This hymn is given in the seventh chapter of nrusimha purana which is one of the upapurana that discusses the glories of nrusimha.
This hymn was taught to sage Markendeya by lord Vishnu himself.
Every name of lord mahavishnu in this stotra has an implied meaning that conveys the message I surrender to you as only you can protect me from death, which makes this hymn very special.