Daniel 1:7

gave names--designed to mark their new relation, that so they might forget their former religion and country (Gen 41:45). But as in Joseph's case (whom Pharaoh called Zaphnath-paaneah), so in Daniel's, the name indicative of his relation to a heathen court ("Belteshazzar," that is, "Bel's prince"), however flattering to him, is not the one retained by Scripture, but the name marking his relation to God ("Daniel," God my Judge, the theme of his prophecies being God's judgment on the heathen world powers). Hananiah--that is, "whom Jehovah hath favored." Shadrach--from Rak, in Babylonian, "the King," that is, "the Sun"; the same root as in Abrech (Gen 41:43, Margin), inspired or illumined by the Sun-god." Mishael--that is, "who is what God is?" Who is comparable to God? Meshach--The Babylonians retained the first syllable of Mishael, the Hebrew name; but for El, that is, GOD, substituted Shak, the Babylonian goddess, called Sheshach (Jer 25:26; Jer 51:41), answering to the Earth, or else Venus, the goddess of love and mirth; it was during her feast that Cyrus took Babylon. Azariah--that is, "whom Jehovah helps." Abed-nego--that is, "servant of the shining fire." Thus, instead of to Jehovah, these His servants were dedicated by the heathen to their four leading gods [HERODOTUS, Clio]; Bel, the Chief-god, the Sun-god, Earth-god, and Fire-god. To the last the three youths were consigned when refusing to worship the golden image (Dan 3:12). The Chaldee version translates "Lucifer," in Isa 14:12, Nogea, the same as Nego.

— Jamieson-Fausset-Brown Commentary (public domain)