The story
From the medieval legend of Faust, who made a contract with the Devil, exchanging his soul for unlimited knowledge and worldly pleasures. The story first appeared in print in an anonymously written chapbook, Historia von D. Johann Fausten (1587), which purported to contain tales about the life of the German alchemist and magician Johann Georg Faust (c. 1466 or 1480 – c. 1541). It was particularly popularized by two plays, Christopher Marlowe’s The Tragicall History of D. Faustus (first published 1604) and Johann Wolfgang von Goethe’s Faust (published 1808 and 1832).
Etymology from Wiktionary, CC BY-SA 4.0.