Named after Yurii Naumovich Lipskiy - Soviet selenographer (1909-1978).
Lipskiy is a lunar crater on the far side. It lies just to the south of the lunar equator, and is the closest named crater to the antipode of the Earth zenith point. That is, it lies in the region that is the most distant from the Earth. Lipskiy is located less than one crater diameter to the north of the prominent crater Daedalus. (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.