Oliver was the only one of Team Arrow and Co. to recognize the name, although he believed the trio of assassins (feared even by the League of Assassins) had been killed back in the 1950s.
The Longbow Hunters were originally mentioned back in the Season 6 finale, when Anatoly revealed that Ricardo Diaz had recruited them.
At this point, it’s difficult to say what traits of the comics characters will be adapted for Arrow.