diff --git a/docker/services/octavia/octavia-deployment-config.yaml b/docker/services/octavia/octavia-deployment-config.yaml
index 9fe1b08983..8600512f6e 100644
--- a/docker/services/octavia/octavia-deployment-config.yaml
+++ b/docker/services/octavia/octavia-deployment-config.yaml
@@ -83,21 +83,21 @@ parameters:
   OctaviaControlSubnetCidr:
     description: Subnet for amphora control subnet in CIDR form.
     type: string
-    default: '192.168.199.0/24'
+    default: '172.24.0.0/16'
   OctaviaControlSubnetGateway:
     description: IP address for control network gateway
     type: string
-    default: '192.168.199.1'
+    default: '172.24.0.1'
   OctaviaControlSubnetPoolStart:
     description: First address in amphora control subnet address
                  pool.
     type: string
-    default: '192.168.199.50'
+    default: '172.24.0.2'
   OctaviaControlSubnetPoolEnd:
     description: First address in amphora control subnet address
                  pool.
     type: string
-    default: '192.168.199.200'
+    default: '172.24.255.254'
   OctaviaCaCertFile:
     type: string
     default: '/etc/octavia/certs/ca_01.pem'
diff --git a/releasenotes/notes/update-lb-mgmt-subnet-to-class-b-1cd832ef08a30c85.yaml b/releasenotes/notes/update-lb-mgmt-subnet-to-class-b-1cd832ef08a30c85.yaml
new file mode 100644
index 0000000000..ea04e38966
--- /dev/null
+++ b/releasenotes/notes/update-lb-mgmt-subnet-to-class-b-1cd832ef08a30c85.yaml
@@ -0,0 +1,11 @@
+---
+features:
+  -
+    Enhance lb-mgmt-subnet to be a class B subnet, so the global amount
+    of Octavia loadbalancers won't be constrained to a very low number.
+upgrade:
+  -
+    This fix is changing the default mask for lb-mgmt-subnet.
+    Operators can either manually modify the already existing subnet or create
+    a new one and update Octavia to use it. Newly create loadbalancer will use
+    The newly created subnet.
\ No newline at end of file