diff --git a/lower-constraints.txt b/lower-constraints.txt
index db92fef36b..64911cf947 100644
--- a/lower-constraints.txt
+++ b/lower-constraints.txt
@@ -100,7 +100,7 @@ python-mimeparse==1.6.0
 python-mistralclient==3.1.0
 python-muranoclient==0.8.2
 python-neutronclient==6.7.0
-python-novaclient==9.1.0
+python-novaclient==10.0.0
 python-octaviaclient==1.3.0
 python-rsdclient==0.1.0
 python-saharaclient==1.4.0
diff --git a/openstackclient/compute/v2/server.py b/openstackclient/compute/v2/server.py
index 67b4140a4e..5723dae306 100644
--- a/openstackclient/compute/v2/server.py
+++ b/openstackclient/compute/v2/server.py
@@ -1529,6 +1529,22 @@ class RebuildServer(command.ShowOne):
             action='store_true',
             help=_('Wait for rebuild to complete'),
         )
+        key_group = parser.add_mutually_exclusive_group()
+        key_group.add_argument(
+            '--key-name',
+            metavar='<key-name>',
+            help=_("Set the key name of key pair on the rebuilt instance."
+                   " Cannot be specified with the '--key-unset' option."
+                   " (Supported by API versions '2.54' - '2.latest')"),
+        )
+        key_group.add_argument(
+            '--key-unset',
+            action='store_true',
+            default=False,
+            help=_("Unset the key name of key pair on the rebuilt instance."
+                   " Cannot be specified with the '--key-name' option."
+                   " (Supported by API versions '2.54' - '2.latest')"),
+        )
         return parser
 
     def take_action(self, parsed_args):
@@ -1553,6 +1569,16 @@ class RebuildServer(command.ShowOne):
         if parsed_args.property:
             kwargs['meta'] = parsed_args.property
 
+        if parsed_args.key_name or parsed_args.key_unset:
+            if compute_client.api_version < api_versions.APIVersion('2.54'):
+                msg = _('--os-compute-api-version 2.54 or later is required')
+                raise exceptions.CommandError(msg)
+
+        if parsed_args.key_unset:
+            kwargs['key_name'] = None
+        if parsed_args.key_name:
+            kwargs['key_name'] = parsed_args.key_name
+
         server = server.rebuild(image, parsed_args.password, **kwargs)
         if parsed_args.wait:
             if utils.wait_for_status(
diff --git a/openstackclient/tests/unit/compute/v2/test_server.py b/openstackclient/tests/unit/compute/v2/test_server.py
index e938564b50..9adc3cc6df 100644
--- a/openstackclient/tests/unit/compute/v2/test_server.py
+++ b/openstackclient/tests/unit/compute/v2/test_server.py
@@ -2517,6 +2517,96 @@ class TestServerRebuild(TestServer):
         self.server.rebuild.assert_called_with(
             self.image, None, meta=expected_property)
 
+    def test_rebuild_with_keypair_name(self):
+        self.server.key_name = 'mykey'
+        arglist = [
+            self.server.id,
+            '--key-name', self.server.key_name,
+        ]
+        verifylist = [
+            ('server', self.server.id),
+            ('key_name', self.server.key_name)
+        ]
+        parsed_args = self.check_parser(self.cmd, arglist, verifylist)
+
+        self.app.client_manager.compute.api_version = 2.54
+        with mock.patch.object(api_versions,
+                               'APIVersion',
+                               return_value=2.54):
+            self.cmd.take_action(parsed_args)
+            args = (
+                self.image,
+                None,
+            )
+            kwargs = dict(
+                key_name=self.server.key_name,
+            )
+            self.servers_mock.get.assert_called_with(self.server.id)
+            self.images_mock.get.assert_called_with(self.image.id)
+            self.server.rebuild.assert_called_with(*args, **kwargs)
+
+    def test_rebuild_with_keypair_name_older_version(self):
+        self.server.key_name = 'mykey'
+        arglist = [
+            self.server.id,
+            '--key-name', self.server.key_name,
+        ]
+        verifylist = [
+            ('server', self.server.id),
+            ('key_name', self.server.key_name)
+        ]
+        parsed_args = self.check_parser(self.cmd, arglist, verifylist)
+
+        self.app.client_manager.compute.api_version = 2.53
+        with mock.patch.object(api_versions,
+                               'APIVersion',
+                               return_value=2.54):
+            self.assertRaises(exceptions.CommandError,
+                              self.cmd.take_action,
+                              parsed_args)
+
+    def test_rebuild_with_keypair_unset(self):
+        self.server.key_name = 'mykey'
+        arglist = [
+            self.server.id,
+            '--key-unset',
+        ]
+        verifylist = [
+            ('server', self.server.id),
+        ]
+        parsed_args = self.check_parser(self.cmd, arglist, verifylist)
+
+        self.app.client_manager.compute.api_version = 2.54
+        with mock.patch.object(api_versions,
+                               'APIVersion',
+                               return_value=2.54):
+            self.cmd.take_action(parsed_args)
+            args = (
+                self.image,
+                None,
+            )
+            kwargs = dict(
+                key_name=None,
+            )
+            self.servers_mock.get.assert_called_with(self.server.id)
+            self.images_mock.get.assert_called_with(self.image.id)
+            self.server.rebuild.assert_called_with(*args, **kwargs)
+
+    def test_rebuild_with_key_name_and_unset(self):
+        self.server.key_name = 'mykey'
+        arglist = [
+            self.server.id,
+            '--key-name', self.server.key_name,
+            '--key-unset',
+        ]
+        verifylist = [
+            ('server', self.server.id),
+            ('key_name', self.server.key_name)
+        ]
+        self.assertRaises(utils.ParserException,
+                          self.check_parser,
+                          self.cmd, arglist, verifylist)
+
 
 class TestServerRemoveFixedIP(TestServer):
 
diff --git a/releasenotes/notes/server-rebuild-with-keypair-name-83c1aa20db136d91.yaml b/releasenotes/notes/server-rebuild-with-keypair-name-83c1aa20db136d91.yaml
new file mode 100644
index 0000000000..c670740828
--- /dev/null
+++ b/releasenotes/notes/server-rebuild-with-keypair-name-83c1aa20db136d91.yaml
@@ -0,0 +1,6 @@
+---
+features:
+  - Add ``--key-name`` option to ``server rebuild`` command to set keypair of
+    the server. Note that it requires --os-compute-api-version 2.54 or later.
+  - Add ``--key-unset`` option to ``server rebuild`` command to unset
+    keypair. Note that it requires --os-compute-api-version 2.54 or later.
diff --git a/requirements.txt b/requirements.txt
index 205d4e64ec..c986667206 100644
--- a/requirements.txt
+++ b/requirements.txt
@@ -13,5 +13,5 @@ oslo.i18n>=3.15.3 # Apache-2.0
 oslo.utils>=3.33.0 # Apache-2.0
 python-glanceclient>=2.8.0 # Apache-2.0
 python-keystoneclient>=3.17.0 # Apache-2.0
-python-novaclient>=9.1.0 # Apache-2.0
+python-novaclient>=10.0.0 # Apache-2.0
 python-cinderclient>=3.3.0 # Apache-2.0