The surname is patronymic in origin, deriving from the personal name Augusto, which in turn comes from the imperial title Augustus, meaning "venerable," "majestic," or "favored by good omens." In some cases, it may also be connected to a birth during the month of August.

The name Augusto developed from the Latin Augustus, a title originally bestowed upon Octavian, the first Roman emperor. Adopted son of Julius Caesar, Octavian rose to power through a combination of military ability and political skill. Although Augustus was initially a title rather than a personal name, its widespread prestige eventually led to its adoption as a given name throughout the Roman world and later across Europe.

As a surname, it generally originated as a patronymic, identifying the descendants of a man named Augusto.