diff --git a/heat/engine/resources/openstack/octavia/pool.py b/heat/engine/resources/openstack/octavia/pool.py
index 9bb541aeab..6254837369 100644
--- a/heat/engine/resources/openstack/octavia/pool.py
+++ b/heat/engine/resources/openstack/octavia/pool.py
@@ -99,8 +99,8 @@ class Pool(octavia_base.OctaviaBase):
               'the pool.'),
             required=True,
             constraints=[
-                constraints.AllowedValues(['ROUND_ROBIN',
-                                           'LEAST_CONNECTIONS', 'SOURCE_IP']),
+                constraints.AllowedValues(['ROUND_ROBIN', 'LEAST_CONNECTIONS',
+                                           'SOURCE_IP', 'SOURCE_IP_PORT']),
             ],
             update_allowed=True,
         ),
diff --git a/releasenotes/notes/SOURCE_IP_PORT-to-LB_ALGORITHM-11f0edf22096df74.yaml b/releasenotes/notes/SOURCE_IP_PORT-to-LB_ALGORITHM-11f0edf22096df74.yaml
new file mode 100644
index 0000000000..6d18f29d52
--- /dev/null
+++ b/releasenotes/notes/SOURCE_IP_PORT-to-LB_ALGORITHM-11f0edf22096df74.yaml
@@ -0,0 +1,4 @@
+---
+features:
+  - The ``lb_algorithm`` property of ``OS::Octavia::Pool`` resource now supports
+    SOURCE_IP_PORT option required for Octavia OVN provider driver.