diff --git a/qiskit/qpy/__init__.py b/qiskit/qpy/__init__.py
index eccb09ce73d6..579fbe2e587e 100644
--- a/qiskit/qpy/__init__.py
+++ b/qiskit/qpy/__init__.py
@@ -116,6 +116,13 @@
 
 .. autoexception:: QPYLoadingDeprecatedFeatureWarning
 
+.. note::
+
+    When loading a QPY file generated using Qiskit 0.45.x or 0.46.x where :func:`.qpy.dump`
+    was called with the ``use_symengine`` argument set ``True`` these files can not be
+    loaded by Qiskit releases >= 1.0.0 due to API differences in the ``symengine`` library
+    that is used when QPY serializes :class:`.ParameterExpression` objects.
+
 QPY format version history
 --------------------------
 
diff --git a/qiskit/qpy/common.py b/qiskit/qpy/common.py
index 84acebcf335d..6084f53a1701 100644
--- a/qiskit/qpy/common.py
+++ b/qiskit/qpy/common.py
@@ -322,6 +322,17 @@ def load_symengine_payload(payload: bytes) -> symengine.Expr:
     major = payload[2]
     minor = payload[3]
     if int(symengine_version[1]) != minor:
+        if major != "0":
+            raise exceptions.QpyError(
+                "Qiskit doesn't support loading a symengine payload generated with symengine >= 1.0"
+            )
+        if minor == 9:
+            raise exceptions.QpyError(
+                "Qiskit doesn't support loading a historical QPY file with `use_symengine=True` "
+                "generated in an environment using symengine 0.9.0. If you need to load this file "
+                "you can do so with Qiskit 0.45.x or 0.46.x and re-export the QPY file using "
+                "`use_symengine=False`."
+            )
         if minor not in (11, 13):
             raise exceptions.QpyError(
                 f"Incompatible symengine version {major}.{minor} used to generate the QPY "
diff --git a/qiskit/qpy/interface.py b/qiskit/qpy/interface.py
index d89117bc6a1c..dd9eab0809ef 100644
--- a/qiskit/qpy/interface.py
+++ b/qiskit/qpy/interface.py
@@ -144,6 +144,16 @@ def dump(
                 from the QPY format at that version will persist. This should only be used if
                 compatibility with loading the payload with an older version of Qiskit is necessary.
 
+            .. note::
+
+                If serializing a :class:`.QuantumCircuit` or :class:`.ScheduleBlock` that contain
+                :class:`.ParameterExpression` objects with version set to
+                :attr:`.qpy.QPY_COMPATIBILITY_VERSION` with the intent to load the payload using
+                a historical release of Qiskit, ensure you set the ``use_symengine`` flag to
+                ``False``. The symengine versions used between the Qiskit 1.0 major version boundary
+                are not compatible and you will be unable to load the QPY file in those cases.
+
+
     Raises:
         QpyError: When multiple data format is mixed in the output.
         TypeError: When invalid data type is input.
diff --git a/releasenotes/notes/fix-qpy-symengine-compat-858970a9a1d6bc14.yaml b/releasenotes/notes/fix-qpy-symengine-compat-858970a9a1d6bc14.yaml
index b018ac74ef42..328be02bed2c 100644
--- a/releasenotes/notes/fix-qpy-symengine-compat-858970a9a1d6bc14.yaml
+++ b/releasenotes/notes/fix-qpy-symengine-compat-858970a9a1d6bc14.yaml
@@ -11,3 +11,29 @@ fixes:
     mismatch with this version of Qiskit this might not work. You will need to
     install Qiskit >1.3.0 to fix this mismatch issue more broadly for any potential
     future version of symengine.
+issues:
+  - |
+    When dumping a QPY file using :func:`.qpy.dump` with the ``version=10`` flag and there are
+    unbound :class:`.ParameterExpression` in the circuit the output file
+    will not be loadable by Qiskit 0.45.x or 0.46.x due to incompatibilities
+    in the symengine serialization used between the symengine libraries used
+    in the different versions of Qiskit. Qiskit >= 1.0 requires symengine >=
+    0.11 and Qiskit < 1.0 required symengine >= 0.9.0 and < 0.10.0. Symengine
+    0.9.x and 0.11.0 (or 0.13.0) don't have a compatible serialization formats
+    which prevents the files from being loaded. In these cases the only option
+    available to generate a QPY file with unbound
+    :class:`.ParameterExpression` that can be loaded with Qiskit 0.45.x or
+    0.46.x is to set both ``version=10`` and ``use_symengine=False``.
+  - |
+    When loading a QPY file generated with Qiskit 0.45.x or 0.46.x and the
+    ``use_symengine`` flag set to ``True`` (an optional feature), these
+    payloads are not parsable with Qiskit >= 1.0 (including this release).
+    This is due to changes in the required symengine versions across the
+    Qiskit 1.0 major version boundary. Qiskit >= 1.0 requires symengine >=
+    0.11 and Qiskit < 1.0 required symengine >= 0.9.0 and < 0.10.0. Symengine
+    0.9.x and 0.11.0 (or 0.13.0) don't have a compatible serialization formats
+    which prevents newer version of Qiskit from loading those payloads. If you
+    have a QPY file generated with Qiskit 0.45.x or 0.46.x and the
+    ``use_symengine`` flag was set to ``True`` your only option is to load
+    the QPY file using Qiskit 0.46.3 and regenerate it using
+    ``use_symengine=False``.