The event had previously been referred to as HostCo in Games-related communications during the bid process.
"The Pan/Parapan Games will be an incredible event with strong regional representation across 17 municipalities in Southern Ontario," said Ian Troop, chief executive officer of Toronto 2015.
"We chose to use Toronto as the focus as it has widespread and immediate recognition beyond our boundaries.
"Similar to other cities that have hosted international, multi-sport events, our new name leverages the city's international reputation as well as the upcoming timeframe."
The Games comprise a mix of Summer Olympic Games sports, as well as traditional Pan American sports.
The Toronto 2015 Pan/Parapan American Games will draw 10,000 athletes and officials and feature 48 sports in 17 municipalities across the Greater Golden Horseshoe area.
The Toronto 2015 Pan American Games take place from July 10-26 and the Parapan American Games from August 7-14.
October 2010: Toronto 2015 logo will create "unforgettable experience"
July 2010: Olympic medallist appointed to Board of Toronto 2015
February 2010: Troop picked as chief executive of Toronto 2015
December 2009: Toronto appoints chairman and Board for 2015 Pan Am Games
November 2009: Toronto awarded 2015 Pan American Games