I think Azarel is supposed to be an angelic name or something like that. There's an angel named Azarel in the story Sin-Eater that Buddhathebob's working on. He's in love with a demon named Damian. If you're wondering how an angel and a demon fell in love, I don't know but it's cool!
I agree with the above comment. Azarel may be related to Azriel. I like Azrael better than Azriel though. I am very fond of names for boys that start wit "Az".
This name sounds very similar to Azriel to me. This could possibly be because they may be linguistically related. They come from the same language and have similar meanings.