fem. of ouranios, lit. "heavenly." Planet discovered and identified as such in 1781 by Sir William Herschel (it had been observed before, but mistaken for a star, cf. 1690 when John Flamsteed cataloged it as 34 Tauri); Herschel proposed calling it Georgium Sidus, lit. "George's Star," in honour of his patron, King George III of England.
"I cannot but wish to take this opportunity of expressing my sense of gratitude, by giving the name of Georgium Sidus ... to a star which (with respect to us) first began to shine under His auspicious reign." [Sir William Herschel, 1783]
The planet was known in Eng. in 1780s as the Georgian Planet; Fr. astronomers began calling Herschel, and ult. Ger. astronomer Johann Bode proposed Uranus as in conformity with other planet names. However, the name didn't come into common usage until c.1850.