In August 2022, this planet and its host star were included among 20 systems to be named by the third NameExoWorlds project. The approved names, proposed by a team from Bahrain, were announced in June 2023. WASP-121b is named Tylos after the ancient Greek name for Bahrain, and its host star is named Dilmun after the ancient civilization.
The planetary orbit is inclined to the equatorial plane of the star by 8.1°.
In 2021, the planetary atmosphere was revealed to be slightly more blue and less absorbing, which may be an indication of planetary weather patterns. By mid-2021, the presence of ions of iron, chromium, vanadium and calcium in the planetary atmosphere was confirmed. In 2022, ionized barium was also detected. By 2022, an absence of titanium in the planetary atmosphere was confirmed and attributed to the nightside condensation of highly refractory titanium dioxide. Observations by HST from 2016-2019, published in 2024, confirmed variability in the atmosphere of WASP-121b.
A 2025 study revealed the first 3D structure of its atmosphere, showing it to be formed of at least three layers. The upper layer consists of hydrogen gas, the middle layer contains sodium and the lower layer iron. A super-rotational sodium-containing jet stream moves material around the equator while the layer below moves the gas from the hot side of the planet to the cooler side. Titanium is detected at a lower latitude below the equatorial jet stream. Another study in 2025 constraining the abundance of volatile elements (carbon and oxygen) and refractory elements (iron and nickel) shows that WASP-121b likely have formed faraway from its host star, in an ice-rich environment, before migrating inward.
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