diff --git a/pkg/apis/core/types.go b/pkg/apis/core/types.go
index 4477dcdf815..26aff9f8b45 100644
--- a/pkg/apis/core/types.go
+++ b/pkg/apis/core/types.go
@@ -3840,6 +3840,10 @@ type ServiceSpec struct {
 	// This feature depends on whether the underlying cloud-provider supports specifying
 	// the loadBalancerIP when a load balancer is created.
 	// This field will be ignored if the cloud-provider does not support the feature.
+	// Deprecated: This field was under-specified and its meaning varies across implementations,
+	// and it cannot support dual-stack.
+	// As of Kubernetes v1.24, users are encouraged to use implementation-specific annotations when available.
+	// This field may be removed in a future API version.
 	// +optional
 	LoadBalancerIP string
 
diff --git a/staging/src/k8s.io/api/core/v1/types.go b/staging/src/k8s.io/api/core/v1/types.go
index e75c89d00a6..d6ec19621b5 100644
--- a/staging/src/k8s.io/api/core/v1/types.go
+++ b/staging/src/k8s.io/api/core/v1/types.go
@@ -4358,11 +4358,14 @@ type ServiceSpec struct {
 	// +optional
 	SessionAffinity ServiceAffinity `json:"sessionAffinity,omitempty" protobuf:"bytes,7,opt,name=sessionAffinity,casttype=ServiceAffinity"`
 
-	// Only applies to Service Type: LoadBalancer
-	// LoadBalancer will get created with the IP specified in this field.
+	// Only applies to Service Type: LoadBalancer.
 	// This feature depends on whether the underlying cloud-provider supports specifying
 	// the loadBalancerIP when a load balancer is created.
 	// This field will be ignored if the cloud-provider does not support the feature.
+	// Deprecated: This field was under-specified and its meaning varies across implementations,
+	// and it cannot support dual-stack.
+	// As of Kubernetes v1.24, users are encouraged to use implementation-specific annotations when available.
+	// This field may be removed in a future API version.
 	// +optional
 	LoadBalancerIP string `json:"loadBalancerIP,omitempty" protobuf:"bytes,8,opt,name=loadBalancerIP"`