diff --git a/CHANGELOG.md b/CHANGELOG.md
index 065c0768f06c..0c9cf3f83191 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -233,6 +233,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ### Bug Fixes
 
+* (CLI) [#12075](https://github.com/cosmos/cosmos-sdk/pull/12075) Add `p2p-port` to the `gentx` and `create-validator` CLI commands to support custom P2P ports.
 * [#11969](https://github.com/cosmos/cosmos-sdk/pull/11969) Fix the panic error in `x/upgrade` when `AppVersion` is not set.
 * (tests) [\#11940](https://github.com/cosmos/cosmos-sdk/pull/11940) Fix some client tests in the `x/gov` module
 * [\#11772](https://github.com/cosmos/cosmos-sdk/pull/11772) Limit types.Dec length to avoid overflow.
diff --git a/x/staking/client/cli/flags.go b/x/staking/client/cli/flags.go
index 85879567a6af..2bdc93168b6a 100644
--- a/x/staking/client/cli/flags.go
+++ b/x/staking/client/cli/flags.go
@@ -31,6 +31,7 @@ const (
 	FlagGenesisFormat = "genesis-format"
 	FlagNodeID        = "node-id"
 	FlagIP            = "ip"
+	FlagP2PPort       = "p2p-port"
 )
 
 // common flagsets to add to various functions
diff --git a/x/staking/client/cli/tx.go b/x/staking/client/cli/tx.go
index f184d27d6a94..6426df2f31fe 100644
--- a/x/staking/client/cli/tx.go
+++ b/x/staking/client/cli/tx.go
@@ -397,10 +397,11 @@ func newBuildCreateValidatorMsg(clientCtx client.Context, txf tx.Factory, fs *fl
 	genOnly, _ := fs.GetBool(flags.FlagGenerateOnly)
 	if genOnly {
 		ip, _ := fs.GetString(FlagIP)
+		p2pPort, _ := fs.GetUint(FlagP2PPort)
 		nodeID, _ := fs.GetString(FlagNodeID)
 
-		if nodeID != "" && ip != "" {
-			txf = txf.WithMemo(fmt.Sprintf("%s@%s:26656", nodeID, ip))
+		if nodeID != "" && ip != "" && p2pPort > 0 {
+			txf = txf.WithMemo(fmt.Sprintf("%s@%s:%d", nodeID, ip, p2pPort))
 		}
 	}
 
@@ -411,7 +412,8 @@ func newBuildCreateValidatorMsg(clientCtx client.Context, txf tx.Factory, fs *fl
 // this is anticipated to be used with the gen-tx
 func CreateValidatorMsgFlagSet(ipDefault string) (fs *flag.FlagSet, defaultsDesc string) {
 	fsCreateValidator := flag.NewFlagSet("", flag.ContinueOnError)
-	fsCreateValidator.String(FlagIP, ipDefault, "The node's public IP")
+	fsCreateValidator.String(FlagIP, ipDefault, "The node's public P2P IP")
+	fsCreateValidator.Uint(FlagP2PPort, 26656, "The node's public P2P port")
 	fsCreateValidator.String(FlagNodeID, "", "The node's NodeID")
 	fsCreateValidator.String(FlagMoniker, "", "The validator's (optional) moniker")
 	fsCreateValidator.String(FlagWebsite, "", "The validator's (optional) website")
@@ -451,6 +453,7 @@ type TxCreateValidatorConfig struct {
 	PubKey cryptotypes.PubKey
 
 	IP              string
+	P2PPort         uint
 	Website         string
 	SecurityContact string
 	Details         string
@@ -464,35 +467,35 @@ func PrepareConfigForTxCreateValidator(flagSet *flag.FlagSet, moniker, nodeID, c
 	if err != nil {
 		return c, err
 	}
+
 	if ip == "" {
-		_, _ = fmt.Fprintf(os.Stderr, "couldn't retrieve an external IP; "+
-			"the tx's memo field will be unset")
+		_, _ = fmt.Fprintf(os.Stderr, "failed to retrieve an external IP; the tx's memo field will be unset")
+	}
+
+	p2pPort, err := flagSet.GetUint(FlagP2PPort)
+	if err != nil {
+		return c, err
 	}
-	c.IP = ip
 
 	website, err := flagSet.GetString(FlagWebsite)
 	if err != nil {
 		return c, err
 	}
-	c.Website = website
 
 	securityContact, err := flagSet.GetString(FlagSecurityContact)
 	if err != nil {
 		return c, err
 	}
-	c.SecurityContact = securityContact
 
 	details, err := flagSet.GetString(FlagDetails)
 	if err != nil {
 		return c, err
 	}
-	c.SecurityContact = details
 
 	identity, err := flagSet.GetString(FlagIdentity)
 	if err != nil {
 		return c, err
 	}
-	c.Identity = identity
 
 	c.Amount, err = flagSet.GetString(FlagAmount)
 	if err != nil {
@@ -519,6 +522,11 @@ func PrepareConfigForTxCreateValidator(flagSet *flag.FlagSet, moniker, nodeID, c
 		return c, err
 	}
 
+	c.IP = ip
+	c.P2PPort = p2pPort
+	c.Website = website
+	c.SecurityContact = securityContact
+	c.Identity = identity
 	c.NodeID = nodeID
 	c.PubKey = valPubKey
 	c.Website = website
@@ -586,17 +594,24 @@ func BuildCreateValidatorMsg(clientCtx client.Context, config TxCreateValidatorC
 	}
 
 	msg, err := types.NewMsgCreateValidator(
-		sdk.ValAddress(valAddr), config.PubKey, amount, description, commissionRates, minSelfDelegation,
+		sdk.ValAddress(valAddr),
+		config.PubKey,
+		amount,
+		description,
+		commissionRates,
+		minSelfDelegation,
 	)
 	if err != nil {
 		return txBldr, msg, err
 	}
+
 	if generateOnly {
 		ip := config.IP
+		p2pPort := config.P2PPort
 		nodeID := config.NodeID
 
-		if nodeID != "" && ip != "" {
-			txBldr = txBldr.WithMemo(fmt.Sprintf("%s@%s:26656", nodeID, ip))
+		if nodeID != "" && ip != "" && p2pPort > 0 {
+			txBldr = txBldr.WithMemo(fmt.Sprintf("%s@%s:%d", nodeID, ip, p2pPort))
 		}
 	}
 
diff --git a/x/staking/client/cli/tx_test.go b/x/staking/client/cli/tx_test.go
index 243780bc6e03..a60a2a309731 100644
--- a/x/staking/client/cli/tx_test.go
+++ b/x/staking/client/cli/tx_test.go
@@ -22,6 +22,7 @@ func TestPrepareConfigForTxCreateValidator(t *testing.T) {
 			IP:                      ip,
 			ChainID:                 chainID,
 			NodeID:                  nodeID,
+			P2PPort:                 26656,
 			PubKey:                  valPubKey,
 			Moniker:                 moniker,
 			Amount:                  amount,