diff --git a/doc/hardware/peripherals/can/shell.rst b/doc/hardware/peripherals/can/shell.rst
index ed36379c55ffe6..0457203438d7e9 100644
--- a/doc/hardware/peripherals/can/shell.rst
+++ b/doc/hardware/peripherals/can/shell.rst
@@ -101,7 +101,7 @@ stopping the processing of CAN frames.
 .. note::
    The CAN controller mode and timing can only be changed while the CAN controller is stopped, which
    is the initial setting upon boot-up. The initial CAN controller mode is set to ``normal`` and the
-   initial timing is set according to the ``bus-speed``, ``sample-point``, ``bus-speed-data``, and
+   initial timing is set according to the ``bitrate``, ``sample-point``, ``bitrate-data``, and
    ``sample-point-data`` :ref:`devicetree` properties.
 
 Timing
diff --git a/doc/releases/migration-guide-3.7.rst b/doc/releases/migration-guide-3.7.rst
index b18522722e1b11..ce86715258151e 100644
--- a/doc/releases/migration-guide-3.7.rst
+++ b/doc/releases/migration-guide-3.7.rst
@@ -247,8 +247,9 @@ Controller Area Network (CAN)
 =============================
 
 * Removed the following deprecated CAN controller devicetree properties. Out-of-tree boards using
-  these properties need to switch to using the ``bus-speed``, ``sample-point``, ``bus-speed-data``,
-  and ``sample-point-data`` devicetree properties for specifying the initial CAN bitrate:
+  these properties can switch to using the ``bitrate``, ``sample-point``, ``bitrate-data``, and
+  ``sample-point-data`` devicetree properties (or rely on :kconfig:option:`CAN_DEFAULT_BITRATE` and
+  :kconfig:option:`CAN_DEFAULT_BITRATE_DATA`) for specifying the initial CAN bitrate:
 
   * ``sjw``
   * ``prop-seg``
@@ -259,6 +260,9 @@ Controller Area Network (CAN)
   * ``phase-seg1-data``
   * ``phase-seg1-data``
 
+  The ``bus-speed`` and ``bus-speed-data`` CAN controller devicetree properties have been
+  deprecated.
+
   (:github:`68714`)
 
 * Support for manual bus-off recovery was reworked (:github:`69460`):
diff --git a/drivers/can/Kconfig b/drivers/can/Kconfig
index df1bf5f7f6c57f..5aa956353dc21c 100644
--- a/drivers/can/Kconfig
+++ b/drivers/can/Kconfig
@@ -28,7 +28,7 @@ config CAN_DEFAULT_BITRATE
 	default 125000
 	help
 	  Default initial CAN bitrate in bits/s. This can be overridden per CAN controller using the
-	  "bus-speed" devicetree property.
+	  "bitrate" devicetree property.
 
 config CAN_DEFAULT_BITRATE_DATA
 	int "Default CAN data phase bitrate"
@@ -36,7 +36,7 @@ config CAN_DEFAULT_BITRATE_DATA
 	depends on CAN_FD_MODE
 	help
 	  Default initial CAN data phase bitrate in bits/s. This can be overridden per CAN controller
-	  using the "bus-speed-data" devicetree property.
+	  using the "bitrate-data" devicetree property.
 
 config CAN_SHELL
 	bool "CAN shell"
diff --git a/dts/bindings/can/can-controller.yaml b/dts/bindings/can/can-controller.yaml
index 55322b50a21e9d..e2825b6e6763b8 100644
--- a/dts/bindings/can/can-controller.yaml
+++ b/dts/bindings/can/can-controller.yaml
@@ -4,6 +4,14 @@ include: base.yaml
 
 properties:
   bus-speed:
+    type: int
+    deprecated: true
+    description: |
+      Deprecated. This property has been renamed to bitrate.
+
+      Initial bitrate in bit/s. If this is unset, the initial bitrate is set to
+      CONFIG_CAN_DEFAULT_BITRATE.
+  bitrate:
     type: int
     description: |
       Initial bitrate in bit/s. If this is unset, the initial bitrate is set to
diff --git a/dts/bindings/can/can-fd-controller.yaml b/dts/bindings/can/can-fd-controller.yaml
index 9efc7823f94fd4..ea357b832240e3 100644
--- a/dts/bindings/can/can-fd-controller.yaml
+++ b/dts/bindings/can/can-fd-controller.yaml
@@ -4,6 +4,14 @@ include: can-controller.yaml
 
 properties:
   bus-speed-data:
+    type: int
+    deprecated: true
+    description: |
+      Deprecated. This property has been renamed to bitrate-data.
+
+      Initial data phase bitrate in bit/s.  If this is unset, the initial data phase bitrate is set
+      to CONFIG_CAN_DEFAULT_BITRATE_DATA.
+  bitrate-data:
     type: int
     description: |
       Initial data phase bitrate in bit/s.  If this is unset, the initial data phase bitrate is set
diff --git a/include/zephyr/drivers/can.h b/include/zephyr/drivers/can.h
index bf3af29ede29e7..8dbf7c89e48e97 100644
--- a/include/zephyr/drivers/can.h
+++ b/include/zephyr/drivers/can.h
@@ -374,11 +374,12 @@ struct can_driver_config {
 		.phy = DEVICE_DT_GET_OR_NULL(DT_PHANDLE(node_id, phys)),			\
 		.min_bitrate = DT_CAN_TRANSCEIVER_MIN_BITRATE(node_id, _min_bitrate),		\
 		.max_bitrate = DT_CAN_TRANSCEIVER_MAX_BITRATE(node_id, _max_bitrate),		\
-		.bus_speed = DT_PROP_OR(node_id, bus_speed, CONFIG_CAN_DEFAULT_BITRATE),	\
+		.bus_speed = DT_PROP_OR(node_id, bitrate,					\
+			DT_PROP_OR(node_id, bus_speed, CONFIG_CAN_DEFAULT_BITRATE)),            \
 		.sample_point = DT_PROP_OR(node_id, sample_point, 0),				\
 		IF_ENABLED(CONFIG_CAN_FD_MODE,							\
-			(.bus_speed_data = DT_PROP_OR(node_id, bus_speed_data,			\
-						      CONFIG_CAN_DEFAULT_BITRATE_DATA),		\
+			(.bus_speed_data = DT_PROP_OR(node_id, bitrate_data,                    \
+			 DT_PROP_OR(node_id, bus_speed_data, CONFIG_CAN_DEFAULT_BITRATE_DATA)), \
 			 .sample_point_data = DT_PROP_OR(node_id, sample_point_data, 0),))	\
 	}
 
diff --git a/samples/modules/canopennode/src/main.c b/samples/modules/canopennode/src/main.c
index 60c3ebaa6dfe6f..e741f569466aee 100644
--- a/samples/modules/canopennode/src/main.c
+++ b/samples/modules/canopennode/src/main.c
@@ -15,8 +15,9 @@
 LOG_MODULE_REGISTER(app);
 
 #define CAN_INTERFACE DEVICE_DT_GET(DT_CHOSEN(zephyr_canbus))
-#define CAN_BITRATE (DT_PROP_OR(DT_CHOSEN(zephyr_canbus), bus_speed, \
-				CONFIG_CAN_DEFAULT_BITRATE) / 1000)
+#define CAN_BITRATE (DT_PROP_OR(DT_CHOSEN(zephyr_canbus), bitrate, \
+					  DT_PROP_OR(DT_CHOSEN(zephyr_canbus), bus_speed, \
+						     CONFIG_CAN_DEFAULT_BITRATE)) / 1000)
 
 static struct gpio_dt_spec led_green_gpio = GPIO_DT_SPEC_GET_OR(
 		DT_ALIAS(green_led), gpios, {0});
diff --git a/tests/drivers/can/host/README.rst b/tests/drivers/can/host/README.rst
index 7f8b15936afce3..bc1dca4d73c05d 100644
--- a/tests/drivers/can/host/README.rst
+++ b/tests/drivers/can/host/README.rst
@@ -22,7 +22,7 @@ The Zephyr end of the CAN fixture can be configured as follows:
 * The CAN controller to be used is set using the ``zephyr,canbus`` chosen devicetree node.
 * The CAN bitrates are set using :kconfig:option:`CONFIG_CAN_DEFAULT_BITRATE` and
   :kconfig:option:`CONFIG_CAN_DEFAULT_BITRATE_DATA`, but can be overridden on a board level using
-  the ``bus-speed`` and ``bus-speed-data`` CAN controller devicetree properties if needed. Default
+  the ``bitrate`` and ``bitrate-data`` CAN controller devicetree properties if needed. Default
   bitrates are 125 kbits/s for the arbitration phase/CAN classic and 1 Mbit/s for the CAN FD data
   phase when using bitrate switching (BRS).