The origins of the village can be traced to the son of one of the ruling Kniaz i.e. Duke or King, Prince (Kniazhych) had land with little palace built on it. Soon a little village was grown around the palace and got its present name Kniazhychi.
The first known record of the name Kniazhychi can be found in a letter written by the Polish king Kazimierz to the Kyiv governor Yuriy Pats on July 7, 1489.