Rafe /rafe/ [1 syll.] as a boys' name is pronounced rayf. It is of Old German origin, and the meaning of Rafe is counsel of the wolf.From Raedwulf.afe is an uncommonly occurring first name for men. Rafe is an equivalently uncommon surname too for both adults and children. (2000 U.S. Census). Rafael (#293 last year) , Raul (#423) , Raphael (#596) , Rolf, Raoul and Ralph are the prominent related forms of Rafe (unlisted) ranked in the Top 1000.