The name Timothy in the Bible
There's only one Timothy (or rather: Timotheos) in the Bible. He is the son of Eunice and the grandson of Lois of Lystra (Acts 16:1), and one of the very first to have been raised Christian (2 Timothy 3:15).
Timothy is subsequently devout and faithful (Philippians 2:19-22) and dedicated to the kingdom of God and the gospel of Christ. The apostle Paul loves him and sees him as his son (1 Timothy 1:2 & 18), takes him under his wing (Acts 16:1-3) but leaves him as a very young evangelist at Berea (Acts 17:14), sends him to Thessalonica (1 Thessalonians 3:2) and the broader Macedonia (Acts 19:22). Two of Paul's letters to his young friend were immortalized as books of the Bible.
Etymology of the name Timothy
The name Timotheos (Timothy) was very common in the first century AD and it shows up all over the classics. It consists of two parts:
The final component of the name Timotheos is the word θεος (theos), meaning God or god.
The first part of the name Timothy comes from the common verb τιμη (time), meaning to honor or revere:
For a meaning of the name Timothy, NOBSE Study Bible Name List reads Revere God. Spiros Zodhiates' The Complete Word Study Dictionary New Testament reads Honoring God.