Eldon

Eldon is derived from an English surname derived from a place name meaning "Ella's hill" composed from given name Ella (the Norman form of Alia, which comes from Germanic element alja meaning "other") and dun meaning "hill.

I've also seen another meaning, coming from Old English ælf (elf) and denu (valley) meaning "elf valley". 

Origin: Old English, Germanic 

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Variants:

• Elden 
• Aldon