diff --git a/packages/ckeditor5-engine/src/view/placeholder.ts b/packages/ckeditor5-engine/src/view/placeholder.ts
index 0e374d08f48..fbad1525bd5 100644
--- a/packages/ckeditor5-engine/src/view/placeholder.ts
+++ b/packages/ckeditor5-engine/src/view/placeholder.ts
@@ -15,11 +15,13 @@ import type EditableElement from './editableelement';
 import type Element from './element';
 import type View from './view';
 
-import type { ObservableChangeEvent } from '@ckeditor/ckeditor5-utils';
+import { logWarning, type ObservableChangeEvent } from '@ckeditor/ckeditor5-utils';
 
 // Each document stores information about its placeholder elements and check functions.
 const documentPlaceholders = new WeakMap<Document, Map<Element, PlaceholderConfig>>();
 
+let hasDisplayedPlaceholderDeprecationWarning = false;
+
 /**
  * A helper that enables a placeholder on the provided view element (also updates its visibility).
  * The placeholder is a CSS pseudo–element (with a text content) attached to the element.
@@ -35,12 +37,15 @@ const documentPlaceholders = new WeakMap<Document, Map<Element, PlaceholderConfi
  * in the passed `element` but in one of its children (selected automatically, i.e. a first empty child element).
  * Useful when attaching placeholders to elements that can host other elements (not just text), for instance,
  * editable root elements.
+ * @param options.text Placeholder text. It's **deprecated** and will be removed soon. Use
+ * {@link module:engine/view/placeholder~PlaceholderableElement#placeholder `options.element.placeholder`} instead.
  * @param options.keepOnFocus If set `true`, the placeholder stay visible when the host element is focused.
  */
-export function enablePlaceholder( { view, element, isDirectHost = true, keepOnFocus = false }: {
+export function enablePlaceholder( { view, element, text, isDirectHost = true, keepOnFocus = false }: {
 	view: View;
 	element: PlaceholderableElement | EditableElement;
 	isDirectHost?: boolean;
+	text?: string;
 	keepOnFocus?: boolean;
 } ): void {
 	const doc = view.document;
@@ -67,6 +72,12 @@ export function enablePlaceholder( { view, element, isDirectHost = true, keepOnF
 
 	if ( element.placeholder ) {
 		setPlaceholder( element.placeholder );
+	} else if ( text ) {
+		setPlaceholder( text );
+	}
+
+	if ( text ) {
+		showPlaceholderTextDeprecationWarning();
 	}
 
 	function setPlaceholder( text: string ) {
@@ -299,6 +310,26 @@ function getChildPlaceholderHostSubstitute( parent: Element ): Element | null {
 	return null;
 }
 
+/**
+ * Displays a deprecation warning message in the console, but only once per page load.
+ */
+function showPlaceholderTextDeprecationWarning() {
+	if ( !hasDisplayedPlaceholderDeprecationWarning ) {
+		/**
+		 * The "text" option in the {@link module:engine/view/placeholder~enablePlaceholder `enablePlaceholder()`}
+		 * function is deprecated and will be removed soon.
+		 *
+		 * See the {@glink updating/guides/update-to-39#view-element-placeholder Migration to v39} guide for
+		 * more information on how to apply this change.
+		 *
+		 * @error enableplaceholder-deprecated-text-option
+		 */
+		logWarning( 'enableplaceholder-deprecated-text-option' );
+	}
+
+	hasDisplayedPlaceholderDeprecationWarning = true;
+}
+
 /**
  * Configuration of the placeholder.
  */
diff --git a/packages/ckeditor5-engine/tests/view/placeholder.js b/packages/ckeditor5-engine/tests/view/placeholder.js
index afb25bb29c7..d520d8793ce 100644
--- a/packages/ckeditor5-engine/tests/view/placeholder.js
+++ b/packages/ckeditor5-engine/tests/view/placeholder.js
@@ -3,6 +3,8 @@
  * For licensing, see LICENSE.md or https://ckeditor.com/legal/ckeditor-oss-license
  */
 
+/* globals console */
+
 import {
 	enablePlaceholder,
 	disablePlaceholder,
@@ -618,8 +620,7 @@ describe( 'placeholder', () => {
 
 			enablePlaceholder( {
 				view,
-				element: viewRoot,
-				text: 'foo bar baz'
+				element: viewRoot
 			} );
 			viewRoot.placeholder = 'new placeholder';
 
@@ -632,12 +633,60 @@ describe( 'placeholder', () => {
 			enablePlaceholder( {
 				view,
 				element: viewRoot,
-				text: 'foo bar baz',
 				isDirectHost: false
 			} );
 			viewRoot.placeholder = 'new placeholder';
 
 			expect( viewRoot.getChild( 0 ).getAttribute( 'data-placeholder' ) ).to.equal( 'new placeholder' );
 		} );
+
+		it( 'should through warning once if "text" is used as argument', () => {
+			sinon.stub( console, 'warn' );
+
+			setData( view, '<div></div><div>{another div}</div>' );
+
+			enablePlaceholder( {
+				view,
+				element: viewRoot,
+				isDirectHost: false,
+				text: 'foo bar'
+			} );
+
+			enablePlaceholder( {
+				view,
+				element: viewRoot,
+				isDirectHost: false,
+				text: 'foo bar baz'
+			} );
+
+			sinon.assert.calledOnce( console.warn );
+			expect( console.warn.calledWith( sinon.match( /^enableplaceholder-deprecated-text-option/ ) ) ).to.be.true;
+		} );
+
+		it( 'should set placeholder using "text" argument', () => {
+			setData( view, '<div></div><div>{another div}</div>' );
+
+			enablePlaceholder( {
+				view,
+				element: viewRoot,
+				text: 'placeholder'
+			} );
+
+			expect( viewRoot.getAttribute( 'data-placeholder' ) ).to.equal( 'placeholder' );
+		} );
+
+		it( 'should prefer element\'s placeholder value over text parameter', () => {
+			setData( view, '<div></div><div>{another div}</div>' );
+
+			enablePlaceholder( {
+				view,
+				element: viewRoot,
+				text: 'foo'
+			} );
+
+			viewRoot.placeholder = 'bar';
+
+			expect( viewRoot.getAttribute( 'data-placeholder' ) ).to.equal( 'bar' );
+		} );
 	} );
 } );