diff --git a/ansible/module_utils/kolla_podman_worker.py b/ansible/module_utils/kolla_podman_worker.py
index dd215174e9..e0aee7bd52 100644
--- a/ansible/module_utils/kolla_podman_worker.py
+++ b/ansible/module_utils/kolla_podman_worker.py
@@ -176,7 +176,11 @@ class PodmanWorker(ContainerWorker):
                 mounts.append(mount_item)
             else:
                 try:
-                    src, dest = item.split(':')
+                    mode = 'rw'
+                    if item.count(':') == 2:
+                        src, dest, mode = item.split(':')
+                    else:
+                        src, dest = item.split(':')
                 except ValueError:
                     self.module.fail_json(
                         msg="Wrong format of volume: {}".format(item),
@@ -191,7 +195,7 @@ class PodmanWorker(ContainerWorker):
                 else:
                     filtered_volumes[src] = dict(
                         bind=dest,
-                        mode='rw'
+                        mode=mode
                     )
 
     def parse_dimensions(self, dimensions):
diff --git a/releasenotes/notes/fixes-podman-named-volume-issues-when-using-mode-36b9862321eb9e68.yaml b/releasenotes/notes/fixes-podman-named-volume-issues-when-using-mode-36b9862321eb9e68.yaml
new file mode 100644
index 0000000000..06821859ee
--- /dev/null
+++ b/releasenotes/notes/fixes-podman-named-volume-issues-when-using-mode-36b9862321eb9e68.yaml
@@ -0,0 +1,6 @@
+---
+fixes:
+  - |
+    Fixes an issue, when using podman, with named volumes that use a mode
+    specifier. See `LP#2054834
+    <https://bugs.launchpad.net/kolla-ansible/+bug/2054834>`_ for more details.