Do you mean the League of Nations Mandate for Palestine, administered by the British between 1920-1948 after the Ottoman Empire collapsed?
Yes, the name Palestine is derived from the Philistines who used to inhabit the area 3500 years ago. The region has been urbanized for 7-9k years and inhabited by many different groups. Jews, Greeks, Romans, Muslims, and I’m sure there’s more. It has an exceedingly complex history.