The story
Anglicized form of the Old Norse personal name Þórleifr, which is composed of the elements Þórr (“Thor”) and leifr (“inheritor”) (compare líf). (Note: Tooley Street in London, England, is of Old Norse origin, but is not from Þórleifr. It is a shortening of Sant Ole, meaning Saint Olaf.)
Etymology from Wiktionary, CC BY-SA 4.0.