As would be expected, Albert Street was named after Prince Albert, the consort to Queen Victoria. It was laid out in 1858, and in the early days passed through a Sumatran village called Kampung Bencoolen, after which Bencoolen Street derives its name.
Albert Street was called Thimiri Thidal in Tamil, meaning "fire walking street". This is because the Hindus there used to perform fire-walking ceremonies, before the ritual was relocated to the Sri Mariamman Temple.
Albert Street is also famous for being the original location of Fatty's Restaurant, named after the jolly rotund figure of its proprietor, Au Chun Seng. The restaurant has since relocated from a shophouse into Albert Centre.