diff --git a/src/Illuminate/Foundation/Console/KeyGenerateCommand.php b/src/Illuminate/Foundation/Console/KeyGenerateCommand.php
index d51fce79f45e..b392eef8d2e2 100644
--- a/src/Illuminate/Foundation/Console/KeyGenerateCommand.php
+++ b/src/Illuminate/Foundation/Console/KeyGenerateCommand.php
@@ -35,10 +35,18 @@ class KeyGenerateCommand extends Command
      */
     public function handle()
     {
+        if ($this->shouldSaveExistingKey()) {
+            $this->call('key:rotate');
+
+            return;
+        }
+
         $key = $this->generateRandomKey();
 
         if ($this->option('show')) {
-            return $this->line('<comment>'.$key.'</comment>');
+            $this->line('<comment>'.$key.'</comment>');
+
+            return;
         }
 
         // Next, we will replace the application key in the environment file so it is
@@ -53,6 +61,23 @@ public function handle()
         $this->components->info('Application key set successfully.');
     }
 
+    /**
+     * Ask the user if they want to save the existing key.
+     */
+    protected function shouldSaveExistingKey(): bool
+    {
+        $currentKey = $this->laravel['config']['app.key'];
+
+        if (! empty($currentKey) && $this->confirm(
+            'There is already an app key. Do you want to store the old key before generating a new one?',
+            true
+        )) {
+            return true;
+        }
+
+        return false;
+    }
+
     /**
      * Generate a random key for the application.
      *
diff --git a/src/Illuminate/Foundation/Console/RotateKeyCommand.php b/src/Illuminate/Foundation/Console/RotateKeyCommand.php
new file mode 100644
index 000000000000..0e36df468aa8
--- /dev/null
+++ b/src/Illuminate/Foundation/Console/RotateKeyCommand.php
@@ -0,0 +1,93 @@
+<?php
+
+namespace Illuminate\Foundation\Console;
+
+use Illuminate\Console\Command;
+use Illuminate\Support\Arr;
+use Symfony\Component\Console\Attribute\AsCommand;
+
+#[AsCommand(name: 'key:rotate')]
+class RotateKeyCommand extends Command
+{
+    /**
+     * The name and signature of the console command.
+     *
+     * @var string
+     */
+    protected $signature = 'key:rotate 
+                    {--force : Force the operation to run when in production}';
+
+    /**
+     * The console command description.
+     *
+     * @var string
+     */
+    protected $description = 'Rotate application encryption key and store previous keys';
+
+    /**
+     * Execute the console command.
+     */
+    public function handle(): void
+    {
+        // 1. Get current APP_KEY
+        $currentKey = $this->laravel['config']['app.key'];
+
+        // 2. Get current APP_PREVIOUS_KEYS as array and prepend the current key
+        $previousKeys = Arr::prepend($this->laravel['config']['app.previous_keys'] ?? [], $currentKey);
+
+        // 3. Update .env file with the new APP_PREVIOUS_KEYS and clear APP_KEY
+        if (! $this->updateEnvFile($currentKey, $previousKeys)) {
+            $this->components->error('Failed to update the environment file.');
+
+            return;
+        }
+
+        // 4. Notify the user and generate a new key
+        $this->components->info('Current application key has been saved successfully. Running php artisan key:generate --force to generate a new key.');
+        $this->call('key:generate', ['--force' => true]);
+        $this->components->info('Application key has been rotated successfully.');
+    }
+
+    /**
+     * Update the .env file with the new APP_PREVIOUS_KEYS and clear APP_KEY.
+     */
+    protected function updateEnvFile(string $currentKey, array $previousKeys): bool
+    {
+        $envPath = $this->laravel->environmentFilePath();
+        $contents = file_get_contents($envPath);
+
+        // Convert array to comma-separated string and wrap in quotes
+        $quotedPreviousKeys = '"'.implode(',', $previousKeys).'"';
+
+        // Update APP_PREVIOUS_KEYS
+        if (str_contains($contents, 'APP_PREVIOUS_KEYS=')) {
+            // If APP_PREVIOUS_KEYS already exists, update its value
+            $contents = preg_replace($this->previousKeysPattern(), 'APP_PREVIOUS_KEYS='.$quotedPreviousKeys, $contents);
+        } else {
+            // If APP_PREVIOUS_KEYS does not exist, insert it after APP_KEY
+            $contents = preg_replace($this->keyPattern(), "APP_KEY=\nAPP_PREVIOUS_KEYS=".$quotedPreviousKeys, $contents);
+        }
+
+        // Clear APP_KEY
+        $contents = preg_replace($this->keyPattern(), 'APP_KEY=', $contents);
+        $this->laravel['config']['app.key'] = null;
+
+        return file_put_contents($envPath, $contents) !== false;
+    }
+
+    /**
+     * Generate a regex pattern to match the current APP_KEY line.
+     */
+    protected function keyPattern(): string
+    {
+        return '/^APP_KEY='.preg_quote($this->laravel['config']['app.key'], '/').'/m';
+    }
+
+    /**
+     * Generate a regex pattern to match the current APP_PREVIOUS_KEYS line.
+     */
+    protected function previousKeysPattern(): string
+    {
+        return '/^APP_PREVIOUS_KEYS="'.preg_quote(implode(',', (array) $this->laravel['config']['app.previous_keys']), '/').'"/m';
+    }
+}