Of German origin.
From Old High Germanic names Audo, Odo, Udo and other names beginning with the name element “aud”, meaning wealth, fortune.
Sources mention association with the Swedish word “åtta”, meaning eight.
Several kings of Germany were bearers of the name.
Chancellor Otto von Bismarck is considered the most notable German with this given name.
Other forms of the name are: Odo, Ottone, Ottorino.