Named after Alexei Mikhailovich Isaev - Soviet rocket designer (1908-1971).
Isaev is a lunar crater on the far side. It is entirely contained within the much larger walled plain Gagarin, and lies in the northwestern part of Gagarin's interior floor. The northwestern outer rim is attached to the inner rim of Gagarin. Although younger than Gagarin, in which it lies, this is still an eroded crater formation. (wikipedia entry)
A crater is a circular depression likely created by an impact event. On the Moon they are named after deceased scientists, polar explorers, astronauts or cosmonauts.