Ostrom or Öström is a Swedish surname meaning "island stream". Notable people with the surname include:
Elinor Ostrom (1933-2012), American political economistEllen Ostrom, dancer in the New York City Ballet's corps de balletGilbert Wellington Ostrom (born 1837), Ontario lawyer and political figureHans Ostrom (born 1954), American professor, writer, editor, and scholarJohn Ostrom (1928–2005), American paleontologistMagnus Öström, drummer for the Esbjörn Svensson TrioMeredith Ostrom (born 1977), American actress, model, and painterTom Ostrom (1936–1994), American psychologistVincent Ostrom (1919-2012), American political scientistWalter Ostrom, ceramic artist