diff --git a/neutron/services/metering/metering_plugin.py b/neutron/services/metering/metering_plugin.py
index 3ad78b821be..727de098a67 100644
--- a/neutron/services/metering/metering_plugin.py
+++ b/neutron/services/metering/metering_plugin.py
@@ -21,6 +21,10 @@ from neutron.db.metering import metering_db
 from neutron.db.metering import metering_rpc
 from neutron import service
 
+from oslo_log import log as logging
+
+LOG = logging.getLogger(__name__)
+
 
 class MeteringPlugin(metering_db.MeteringDbMixin):
     """Implementation of the Neutron Metering Service Plugin."""
@@ -65,6 +69,14 @@ class MeteringPlugin(metering_db.MeteringDbMixin):
         rule = super(MeteringPlugin, self).create_metering_label_rule(
             context, metering_label_rule)
 
+        if rule.get("remote_ip_prefix"):
+            LOG.warning("The use of 'remote_ip_prefix' in metering label "
+                        "rules is deprecated and will be removed in future "
+                        "releases. One should use instead the "
+                        "'source_ip_prefix' and/or 'destination_ip_prefix' "
+                        "parameters. For more details, you can check the "
+                        "spec: https://review.opendev.org/#/c/744702/.")
+
         data = self.get_sync_data_for_rule(context, rule)
         self.meter_rpc.add_metering_label_rule(context, data)
 
diff --git a/releasenotes/notes/deprecate-remote_ip_prefix-metering-label-rules-5203f681d2fce058.yaml b/releasenotes/notes/deprecate-remote_ip_prefix-metering-label-rules-5203f681d2fce058.yaml
new file mode 100644
index 00000000000..62fb8578c85
--- /dev/null
+++ b/releasenotes/notes/deprecate-remote_ip_prefix-metering-label-rules-5203f681d2fce058.yaml
@@ -0,0 +1,7 @@
+---
+deprecations:
+  - |
+    Deprecate the use of ``remote_ip_prefix`` in metering label rules, and it
+    will be removed in future releases. One should use instead the
+    ``source_ip_prefix`` and/or ``destination_ip_prefix`` parameters. For more
+    details, please refer to the spec: https://review.opendev.org/#/c/744702/.
\ No newline at end of file