Charles Ellicott Commentary Genesis 33:20

"And he erected there an altar, and called it El-elohe-israel." — Genesis 33:20 (ASV)

He erected there an altar. —Abraham had already built an altar in this neighbourhood (Genesis 12:7), and Jacob now followed his example—partly as a thankoffering for his safe return, partly also as taking possession of the country; but chiefly as a profession of faith, and public recognition of the new relation in which he stood to God. This especially appears in his calling the altar “El, the Elohim of Israel.” Of course, the title of Jehovah could not be used here, as the altar had a special reference to the change of Jacob’s name, and was an acknowledgment on his own part of his now being Israel, a prince with El, that is, with God.