The authors agree that this surname is typical of Sicily, with presence also in the Calabrian area of the Strait of Messina. On its origin, however, there are divergent interpretations.

E. Rossoni and F. Miranda agree that the surname would derive from the Sicilian dialect cannizzu or cannizzi, a term that designates the mats woven with reeds, coming from the Late Latin cannicius ("of reeds"). These mats were used to dry fruit or cheese, or in cylindrical form to store wheat. The surname would have arisen as a trade name: the maker or seller of these mats. Both authors also do not rule out a derivation from the place name Cannizzaro, a hamlet of the municipality of Aci Castello, in the Catania area.

V. Blunda proposes, on the other hand, an Arabic origin of toponymic base: the etymon ʿayn Nyzar, meaning "spring of Nyzar", in reference to a spring identified with a personal name.

G. P. Holmes suggests a possible Spanish origin for the surname, although the available source does not develop this hypothesis in sufficient detail.

Among the notable bearers, Rossoni and Blunda highlight Stanislao Cannizzaro (1826–1910), a Palermitan chemist recognised for his fundamental contribution to the development of modern chemistry.