diff --git a/neutron_lib/api/converters.py b/neutron_lib/api/converters.py
index d18052673..47bda4463 100644
--- a/neutron_lib/api/converters.py
+++ b/neutron_lib/api/converters.py
@@ -10,13 +10,17 @@
 #    License for the specific language governing permissions and limitations
 #    under the License.
 
+import uuid
+
 import netaddr
+
 from oslo_config import cfg
 from oslo_utils import strutils
 
 from neutron_lib._i18n import _
 from neutron_lib import constants
 from neutron_lib import exceptions as n_exc
+from neutron_lib.placement import utils as pl_utils
 from neutron_lib.utils import net as net_utils
 
 
@@ -332,3 +336,22 @@ def convert_to_sanitized_mac_address(mac_address):
         return str(netaddr.EUI(mac_address, dialect=netaddr.mac_unix_expanded))
     except netaddr.core.AddrFormatError:
         return mac_address
+
+
+def convert_to_sanitized_binding_profile_allocation(allocation, port_id,
+                                                    min_bw_rules):
+    """Return binding-profile.allocation in the new format
+
+    :param allocation: binding-profile.allocation attribute containting a
+                       string with RP UUID
+    :param port_id: ID of the port that is being sanitized
+    :param min_bw_rules: A list of minimum bandwidth rules associated with the
+                         port.
+    :return: A dict with allocation in {'<group_uuid>': '<rp_uuid>'} format.
+    """
+    if isinstance(allocation, dict):
+        return allocation
+
+    group_id = str(
+        pl_utils.resource_request_group_uuid(uuid.UUID(port_id), min_bw_rules))
+    return {group_id: allocation}
diff --git a/neutron_lib/tests/unit/api/test_conversions.py b/neutron_lib/tests/unit/api/test_conversions.py
index 937fec28f..742018f1d 100644
--- a/neutron_lib/tests/unit/api/test_conversions.py
+++ b/neutron_lib/tests/unit/api/test_conversions.py
@@ -384,3 +384,27 @@ class TestConvertToSanitizedMacAddress(base.BaseTestCase):
         self.assertEqual(
             '00:11:22:33:44:',
             converters.convert_to_sanitized_mac_address('00:11:22:33:44:'))
+
+
+class TestConvertToSanitizedBindingProfileAllocation(base.BaseTestCase):
+
+    RP_UUID = '41d7391e-1f69-11ec-a899-8f9d6d950f8d'
+    PORT_ID = '64d01804-1f83-11ec-987c-7f6caec3998b'
+    MIN_BW_RULE_ID = '52441596-1f83-11ec-93c5-9b759591a493'
+    # uuid -v5 64d01804-1f83-11ec-987c-7f6caec3998b
+    # 52441596-1f83-11ec-93c5-9b759591a493
+    GROUP_UUID = '2a1be6ea-15b0-5ac1-9d70-643e2ae306cb'
+
+    def test_sanitize_binding_profile_allocation(self):
+        old_format = self.RP_UUID
+        new_format = {self.GROUP_UUID: self.RP_UUID}
+        min_bw_rules = [mock.MagicMock(id=self.MIN_BW_RULE_ID)]
+        self.assertEqual(
+            new_format,
+            converters.convert_to_sanitized_binding_profile_allocation(
+                old_format, self.PORT_ID, min_bw_rules))
+
+        self.assertEqual(
+            new_format,
+            converters.convert_to_sanitized_binding_profile_allocation(
+                new_format, self.PORT_ID, min_bw_rules))