diff --git a/pkg/ratelimit/metrics/metrics.go b/pkg/ratelimit/metrics/metrics.go
new file mode 100644
index 0000000000..1f1e6ef435
--- /dev/null
+++ b/pkg/ratelimit/metrics/metrics.go
@@ -0,0 +1,58 @@
+/*
+Copyright 2023 The Kubernetes Authors.
+
+Licensed under the Apache License, Version 2.0 (the "License");
+you may not use this file except in compliance with the License.
+You may obtain a copy of the License at
+
+    http://www.apache.org/licenses/LICENSE-2.0
+
+Unless required by applicable law or agreed to in writing, software
+distributed under the License is distributed on an "AS IS" BASIS,
+WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+See the License for the specific language governing permissions and
+limitations under the License.
+*/
+
+package metrics
+
+import (
+	"sync"
+	"time"
+
+	"github.com/prometheus/client_golang/prometheus"
+)
+
+var register sync.Once
+
+const (
+	rateLimitSubsystem  = "rate_limit"
+	rateLimitLatencyKey = "rate_limit_delay_seconds"
+)
+
+var (
+	rateLimitLatencyMetricsLabels = []string{
+		"key", // rate limiter key
+	}
+
+	RateLimitLatency = prometheus.NewHistogramVec(
+		prometheus.HistogramOpts{
+			Subsystem: rateLimitSubsystem,
+			Name:      rateLimitLatencyKey,
+			Help:      "Latency of the RateLimiter Accept Operation",
+			// custom buckets = [0.5s, 1s, 2s, 4s, 8s, 16s, 32s, 64s, 128s, 256s(~4min), 512s(~8min), 1024s(~17min), 2048s(~34min), 4096s(~68min), +Inf]
+			Buckets: prometheus.ExponentialBuckets(0.5, 2, 14),
+		},
+		rateLimitLatencyMetricsLabels,
+	)
+)
+
+func RegisterMetrics() {
+	register.Do(func() {
+		prometheus.MustRegister(RateLimitLatency)
+	})
+}
+
+func PublishRateLimiterMetrics(key string, start time.Time) {
+	RateLimitLatency.WithLabelValues(key).Observe(time.Since(start).Seconds())
+}
diff --git a/pkg/ratelimit/ratelimit.go b/pkg/ratelimit/ratelimit.go
index 95e6cab7cf..ece2310ade 100644
--- a/pkg/ratelimit/ratelimit.go
+++ b/pkg/ratelimit/ratelimit.go
@@ -27,6 +27,7 @@ import (
 	"github.com/GoogleCloudPlatform/k8s-cloud-provider/pkg/cloud/meta"
 	"k8s.io/client-go/util/flowcontrol"
 	"k8s.io/ingress-gce/pkg/flags"
+	"k8s.io/ingress-gce/pkg/ratelimit/metrics"
 	"k8s.io/klog/v2"
 )
 
@@ -39,6 +40,10 @@ type GCERateLimiter struct {
 	operationPollInterval time.Duration
 }
 
+func init() {
+	metrics.RegisterMetrics()
+}
+
 // NewGCERateLimiter parses the list of rate limiting specs passed in and
 // returns a properly configured cloud.RateLimiter implementation.
 // Expected format of specs: {"[version].[service].[operation],[type],[param1],[param2],..", "..."}
@@ -99,7 +104,10 @@ func (grl *GCERateLimiter) Accept(ctx context.Context, key *cloud.RateLimitKey)
 		}
 	}
 
-	return rl.Accept(ctx, key)
+	start := time.Now()
+	err := rl.Accept(ctx, key)
+	metrics.PublishRateLimiterMetrics(fmt.Sprintf("%s.%s.%s", key.Version, key.Service, key.Operation), start)
+	return err
 }
 
 // rateLimitImpl returns the flowcontrol.RateLimiter implementation