diff --git a/manifests/00-custom-resource-definition.yaml b/manifests/00-custom-resource-definition.yaml
index 6adf7cd357..65cfdc9d24 100644
--- a/manifests/00-custom-resource-definition.yaml
+++ b/manifests/00-custom-resource-definition.yaml
@@ -574,6 +574,24 @@ spec:
                                 - PROXY
                                 type: string
                             type: object
+                          openstack:
+                            description: "openstack provides configuration settings
+                              that are specific to OpenStack load balancers. \n If
+                              empty, defaults will be applied. See specific openstack
+                              fields for details about their defaults."
+                            properties:
+                              loadBalancerIP:
+                                description: loadBalancerIP specifies the floating
+                                  IP address that the load balancer will use. When
+                                  not specified, an IP address will be assigned randomly
+                                  by the OpenStack cloud provider. This value must
+                                  be a valid IPv4 or IPv6 address.
+                                type: string
+                                x-kubernetes-validations:
+                                - message: loadBalancerIP must be a valid IPv4 or
+                                    IPv6 address
+                                  rule: isIP(self)
+                            type: object
                           type:
                             description: type is the underlying infrastructure provider
                               for the load balancer. Allowed values are "AWS", "Azure",
@@ -592,6 +610,10 @@ spec:
                         required:
                         - type
                         type: object
+                        x-kubernetes-validations:
+                        - message: openstack is not permitted when type is not OpenStack
+                          rule: 'has(self.type) && self.type == ''OpenStack'' ? true
+                            : !has(self.openstack)'
                       scope:
                         description: scope indicates the scope at which the load balancer
                           is exposed. Possible values are "External" and "Internal".
@@ -2440,6 +2462,24 @@ spec:
                                 - PROXY
                                 type: string
                             type: object
+                          openstack:
+                            description: "openstack provides configuration settings
+                              that are specific to OpenStack load balancers. \n If
+                              empty, defaults will be applied. See specific openstack
+                              fields for details about their defaults."
+                            properties:
+                              loadBalancerIP:
+                                description: loadBalancerIP specifies the floating
+                                  IP address that the load balancer will use. When
+                                  not specified, an IP address will be assigned randomly
+                                  by the OpenStack cloud provider. This value must
+                                  be a valid IPv4 or IPv6 address.
+                                type: string
+                                x-kubernetes-validations:
+                                - message: loadBalancerIP must be a valid IPv4 or
+                                    IPv6 address
+                                  rule: isIP(self)
+                            type: object
                           type:
                             description: type is the underlying infrastructure provider
                               for the load balancer. Allowed values are "AWS", "Azure",
@@ -2458,6 +2498,10 @@ spec:
                         required:
                         - type
                         type: object
+                        x-kubernetes-validations:
+                        - message: openstack is not permitted when type is not OpenStack
+                          rule: 'has(self.type) && self.type == ''OpenStack'' ? true
+                            : !has(self.openstack)'
                       scope:
                         description: scope indicates the scope at which the load balancer
                           is exposed. Possible values are "External" and "Internal".
diff --git a/pkg/operator/controller/ingress/controller.go b/pkg/operator/controller/ingress/controller.go
index 43984ec1a4..38a9d22c24 100644
--- a/pkg/operator/controller/ingress/controller.go
+++ b/pkg/operator/controller/ingress/controller.go
@@ -617,6 +617,27 @@ func setDefaultPublishingStrategy(ic *operatorv1.IngressController, platformStat
 					statusLB.ProviderParameters.IBM.Protocol = specProtocol
 					changed = true
 				}
+			case operatorv1.OpenStackLoadBalancerProvider:
+				// The only provider parameter that is supported
+				// for OpenStack is the LoadBalancerIP parameter.
+				var statusLoadBalancerIP string
+				specLoadBalancerIP := specLB.ProviderParameters.OpenStack.LoadBalancerIP
+				if statusLB.ProviderParameters != nil && statusLB.ProviderParameters.OpenStack != nil {
+					statusLoadBalancerIP = statusLB.ProviderParameters.OpenStack.LoadBalancerIP
+				}
+				if specLoadBalancerIP != statusLoadBalancerIP {
+					if statusLB.ProviderParameters == nil {
+						statusLB.ProviderParameters = &operatorv1.ProviderLoadBalancerParameters{}
+					}
+					if len(statusLB.ProviderParameters.Type) == 0 {
+						statusLB.ProviderParameters.Type = operatorv1.OpenStackLoadBalancerProvider
+					}
+					if statusLB.ProviderParameters.OpenStack == nil {
+						statusLB.ProviderParameters.OpenStack = &operatorv1.OpenStackLoadBalancerParameters{}
+					}
+					statusLB.ProviderParameters.OpenStack.LoadBalancerIP = specLoadBalancerIP
+					changed = true
+				}
 			}
 			return changed
 		}
@@ -739,6 +760,14 @@ func setDefaultProviderParameters(lbs *operatorv1.LoadBalancerStrategy, ingressC
 		if lbs.ProviderParameters.IBM == nil {
 			lbs.ProviderParameters.IBM = &operatorv1.IBMLoadBalancerParameters{}
 		}
+	case operatorv1.OpenStackLoadBalancerProvider:
+		if lbs.ProviderParameters == nil {
+			lbs.ProviderParameters = &operatorv1.ProviderLoadBalancerParameters{}
+		}
+		lbs.ProviderParameters.Type = provider
+		if lbs.ProviderParameters.OpenStack == nil {
+			lbs.ProviderParameters.OpenStack = &operatorv1.OpenStackLoadBalancerParameters{}
+		}
 	}
 }
 
diff --git a/pkg/operator/controller/ingress/load_balancer_service.go b/pkg/operator/controller/ingress/load_balancer_service.go
index 7cef35dda3..a2ebf364b4 100644
--- a/pkg/operator/controller/ingress/load_balancer_service.go
+++ b/pkg/operator/controller/ingress/load_balancer_service.go
@@ -398,6 +398,15 @@ func desiredLoadBalancerService(ci *operatorv1.IngressController, deploymentRef
 			for name, value := range annotation {
 				service.Annotations[name] = value
 			}
+
+			// Set the Load Balancer IP for external load balancers on OpenStack only
+			if platform.Type == configv1.OpenStackPlatformType {
+				if lb != nil && lb.ProviderParameters != nil &&
+					lb.ProviderParameters.Type == operatorv1.OpenStackLoadBalancerProvider &&
+					lb.ProviderParameters.OpenStack != nil {
+					service.Spec.LoadBalancerIP = lb.ProviderParameters.OpenStack.LoadBalancerIP
+				}
+			}
 		}
 		switch platform.Type {
 		case configv1.AWSPlatformType: