diff --git a/charts/ingress-nginx/README.md b/charts/ingress-nginx/README.md
index 8086014395..8b5d92d378 100644
--- a/charts/ingress-nginx/README.md
+++ b/charts/ingress-nginx/README.md
@@ -408,6 +408,7 @@ As of version `1.26.0` of this chart, by simply not providing any clusterIP valu
 | controller.service.externalIPs | list | `[]` | List of IP addresses at which the controller services are available # Ref: https://kubernetes.io/docs/concepts/services-networking/service/#external-ips # |
 | controller.service.internal.annotations | object | `{}` | Annotations are mandatory for the load balancer to come up. Varies with the cloud service. |
 | controller.service.internal.enabled | bool | `false` | Enables an additional internal load balancer (besides the external one). |
+| controller.service.internal.loadBalancerIP | string | `""` | Used by cloud providers to connect the resulting internal LoadBalancer to a pre-existing static IP. Make sure to add to the service the needed annotation to specify the subnet which the static IP belongs to. For instance, `networking.gke.io/internal-load-balancer-subnet` for GCP and `service.beta.kubernetes.io/aws-load-balancer-subnets` for AWS. |
 | controller.service.internal.loadBalancerSourceRanges | list | `[]` | Restrict access For LoadBalancer service. Defaults to 0.0.0.0/0. |
 | controller.service.internal.ports | object | `{}` | Custom port mapping for internal service |
 | controller.service.internal.targetPorts | object | `{}` | Custom target port mapping for internal service |
diff --git a/charts/ingress-nginx/values.yaml b/charts/ingress-nginx/values.yaml
index cc8bddf286..b313643f32 100644
--- a/charts/ingress-nginx/values.yaml
+++ b/charts/ingress-nginx/values.yaml
@@ -478,7 +478,9 @@ controller:
       enabled: false
       # -- Annotations are mandatory for the load balancer to come up. Varies with the cloud service.
       annotations: {}
-      # loadBalancerIP: ""
+
+      # -- Used by cloud providers to connect the resulting internal LoadBalancer to a pre-existing static IP. Make sure to add to the service the needed annotation to specify the subnet which the static IP belongs to. For instance, `networking.gke.io/internal-load-balancer-subnet` for GCP and `service.beta.kubernetes.io/aws-load-balancer-subnets` for AWS.
+      loadBalancerIP: ""
 
       # -- Restrict access For LoadBalancer service. Defaults to 0.0.0.0/0.
       loadBalancerSourceRanges: []