The councillor wants Shoreditch High Street renamed Banglatown
A proposal has been made to change the name of a revamped station due to open in the East End in 2010.
Shoreditch High Street station will open as part of the East London Line.
Tower Hamlets councillor Abdal Ullah said the new station should be called "Banglatown" to reflect the strong Bangladeshi community.
Transport for London (TfL) said changing the name would cost about £2m and warned the proposals could cause some confusion.
"The Bangladeshi community of this area are the custodians of the community," said Mr Ullah.
"This area has been a haven for migrant communities and the Bangladeshi community by far is one of the largest at the moment and they want to leave a symbol for future generations."
But a TfL spokesman said: "The cost of changing the name of a station can be substantial and time consuming, as it is not just the physical station signs that have to be addressed but also maps, leaflets, related publications and pre-recorded announcements.
"It is important that a station name takes into account the street or the official name of its area, as recorded on official maps."
Two years ago, Mr Ullah launched a campaign to rename Aldgate East tube station Brick Lane - without success.