diff --git a/netbox/vpn/migrations/0003_ipaddress_multiple_tunnel_terminations.py b/netbox/vpn/migrations/0003_ipaddress_multiple_tunnel_terminations.py
new file mode 100644
index 00000000000..2747669ae31
--- /dev/null
+++ b/netbox/vpn/migrations/0003_ipaddress_multiple_tunnel_terminations.py
@@ -0,0 +1,20 @@
+# Generated by Django 4.2.8 on 2024-01-05 19:31
+
+from django.db import migrations, models
+import django.db.models.deletion
+
+
+class Migration(migrations.Migration):
+
+    dependencies = [
+        ('ipam', '0069_gfk_indexes'),
+        ('vpn', '0002_move_l2vpn'),
+    ]
+
+    operations = [
+        migrations.AlterField(
+            model_name='tunneltermination',
+            name='outside_ip',
+            field=models.ForeignKey(blank=True, null=True, on_delete=django.db.models.deletion.PROTECT, related_name='tunnel_terminations', to='ipam.ipaddress'),
+        ),
+    ]
diff --git a/netbox/vpn/models/tunnels.py b/netbox/vpn/models/tunnels.py
index be1e40142f3..6f4fa4182c6 100644
--- a/netbox/vpn/models/tunnels.py
+++ b/netbox/vpn/models/tunnels.py
@@ -129,10 +129,10 @@ class TunnelTermination(CustomFieldsMixin, CustomLinksMixin, TagsMixin, ChangeLo
         ct_field='termination_type',
         fk_field='termination_id'
     )
-    outside_ip = models.OneToOneField(
+    outside_ip = models.ForeignKey(
         to='ipam.IPAddress',
         on_delete=models.PROTECT,
-        related_name='tunnel_termination',
+        related_name='tunnel_terminations',
         blank=True,
         null=True
     )