In English, name Derek means – Gifted ruler. People ruler. Variant of the Old German TheodoricFamous bearer: Derrick was a 17th century hangman at Tyhurn, whose name became synonymous with gallows and now refers to a type of crane.Gifted ruler. From Theodoric.. Other origins for name Derek include – English, German, German. Name Derek is most often used as a boy name or male name.