diff --git a/changelogs/fragments/552-elb_classic_lb-fact.yml b/changelogs/fragments/552-elb_classic_lb-fact.yml
new file mode 100644
index 00000000000..1b63ad0541d
--- /dev/null
+++ b/changelogs/fragments/552-elb_classic_lb-fact.yml
@@ -0,0 +1,3 @@
+deprecated_features:
+- ec2_classic_lb - setting of the ``ec2_elb`` fact has been deprecated and will be removed in release 4.0.0 of the collection.
+  The module now returns ``elb`` which can be accessed using the register keyword (https://github.com/ansible-collections/amazon.aws/pull/552).
diff --git a/plugins/modules/elb_classic_lb.py b/plugins/modules/elb_classic_lb.py
index 91cc5e26f90..1b5172a9102 100644
--- a/plugins/modules/elb_classic_lb.py
+++ b/plugins/modules/elb_classic_lb.py
@@ -288,6 +288,10 @@
     default: true
     version_added: 2.1.0
 
+notes:
+- The ec2_elb fact currently set by this module has been deprecated and will no
+  longer be set after release 4.0.0 of the collection.
+
 extends_documentation_fragment:
 - amazon.aws.aws
 - amazon.aws.ec2