It has occasionally been used as an English given name since the 16th century. It was moderately popular in the 1940s, but had a more notable upswing in the early 2000s. This may have been inspired by the Spanish actress Penélope Cruz (1974-), who gained prominence in English-language movies at that time. It was already rapidly rising when celebrities Kourtney Kardashian and Scott Disick gave it to their baby daughter in 2012.
In England, it began to be used as a given name after the Protestant Reformation. It was moderately common in the 19th century. It began to rise in popularity again in the late 1980s, probably helped along by characters on the American television shows Friends (1994-2004) and Charmed (1998-2006). It is currently much more common in the United Kingdom, Australia and New Zealand than the United States.
A moon of Saturn bears this name, in honour of the Titan.