Named after Fernao de Magelhaens - Portuguese navigator (1480-1521).
Magelhaens is 105 km long and was named for Ferdinand Magellan, the 16th century Portuguese explorer. It is surrounded by rocky peaks of unknown origin. These forms may be the result of tectonic movements in the Tharsis region, or of meteorite impacts. (wikipedia entry)
A crater is a circular depression likely created by an impact event. On Mars large craters are named after deceased scientists, writers and others who have contributed to the lore of Mars. Small creaters (less than 60km) are named after small towns and villages.