diff --git a/doc/source/topics/settings.rst b/doc/source/topics/settings.rst
index 696d701a34..231614f5cb 100644
--- a/doc/source/topics/settings.rst
+++ b/doc/source/topics/settings.rst
@@ -1063,8 +1063,6 @@ Default::
             'supported_vnic_types': ["*"],
             'segmentation_id_range': {},
             'enable_fip_topology_check': True,
-            'default_ipv4_subnet_pool_label': None,
-            'default_ipv6_subnet_pool_label': None,
         }
 
 A dictionary of settings which can be used to enable optional services provided
@@ -1258,6 +1256,11 @@ Neutron can be configured with a default Subnet Pool to be used for IPv4
 subnet-allocation. Specify the label you wish to display in the Address pool
 selector on the create subnet step if you want to use this feature.
 
+This option is now marked as "deprecated" and will be removed in Newton or
+a later release. If there exists a default Subnet Pool it will be automatically
+detected through the Neutron API and the label will be set to the name of the
+default Subnet Pool.
+
 ``default_ipv6_subnet_pool_label``
 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
 
@@ -1269,7 +1272,13 @@ Neutron can be configured with a default Subnet Pool to be used for IPv6
 subnet-allocation. Specify the label you wish to display in the Address pool
 selector on the create subnet step if you want to use this feature.
 
-You must set this to enable IPv6 Prefix Delegation in a PD-capable environment.
+When using Liberty Neutron you must set this to enable IPv6 Prefix Delegation
+in a PD-capable environment.
+
+This option is now marked as "deprecated" and will be removed in Newton or
+a later release. If there exists a default Subnet Pool it will be automatically
+detected through the Neutron API and the label will be set to the name of the
+default Subnet Pool.
 
 ``OPENSTACK_SSL_CACERT``
 ------------------------
diff --git a/releasenotes/notes/deprecation-of-default-subnet-pool-label-options-b05ebccbf6f68ecf.yaml b/releasenotes/notes/deprecation-of-default-subnet-pool-label-options-b05ebccbf6f68ecf.yaml
new file mode 100644
index 0000000000..6d56f7d8d1
--- /dev/null
+++ b/releasenotes/notes/deprecation-of-default-subnet-pool-label-options-b05ebccbf6f68ecf.yaml
@@ -0,0 +1,7 @@
+---
+deprecations:
+    - The 'default_ipv4_subnet_pool_label' and 'default_ipv6_subnet_pool_label'
+      options has been deprecated and will be removed in the Newton release.
+      Starting with Mitaka you can create one default subnet pool per address
+      family through the Neutron API. These subnet pools will automatically
+      show up in the subnet pool list using the name of the pool as label.