ðɪ ˈaɪlənd wʌz nˈeɪmd ˈæftɚ sˌɜː dʒˈɑːn kˈuːd, ɐn ˈɪŋɡlɪʃ hˈɑːɹbɚɹ ˌɛndʒɪnˈɪɹ hˌuː wʌz ɛŋɡˈeɪdʒd baɪ ðə mˈɛlbɚn hˈɑːɹbɚ tɹˈʌst tə sᵻlˈɛkt ðɪ ˈɑːptɪməm ɹˈaʊt fɚðə kənˈæl æz pˈɑːɹt ʌvðə pˈoːɹt ʌv mˈɛlbɚn.
The island was named after Sir John Coode, an English harbour engineer who was engaged by the Melbourne Harbor Trust to select the optimum route for the canal as part of the Port of Melbourne.