diff --git a/Cargo.lock b/Cargo.lock
index a284eb8cce3..9610316c746 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2521,7 +2521,7 @@ dependencies = [
 
 [[package]]
 name = "libp2p-deflate"
-version = "0.40.0"
+version = "0.40.1"
 dependencies = [
  "async-std",
  "flate2",
diff --git a/Cargo.toml b/Cargo.toml
index 4932efb58ee..75354b74596 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -77,7 +77,7 @@ libp2p-autonat = { version = "0.11.0", path = "protocols/autonat" }
 libp2p-connection-limits = { version = "0.2.1", path = "misc/connection-limits" }
 libp2p-core = { version = "0.40.1", path = "core" }
 libp2p-dcutr = { version = "0.10.0", path = "protocols/dcutr" }
-libp2p-deflate = { version = "0.40.0", path = "transports/deflate" }
+libp2p-deflate = { version = "0.40.1", path = "transports/deflate" }
 libp2p-dns = { version = "0.40.1", path = "transports/dns" }
 libp2p-floodsub = { version = "0.43.0", path = "protocols/floodsub" }
 libp2p-gossipsub = { version = "0.45.1", path = "protocols/gossipsub" }
diff --git a/libp2p/src/lib.rs b/libp2p/src/lib.rs
index 0d4ea730dc0..d1e151cc3c9 100644
--- a/libp2p/src/lib.rs
+++ b/libp2p/src/lib.rs
@@ -52,10 +52,15 @@ pub use libp2p_core as core;
 #[cfg(feature = "dcutr")]
 #[doc(inline)]
 pub use libp2p_dcutr as dcutr;
+
 #[cfg(feature = "deflate")]
 #[cfg(not(target_arch = "wasm32"))]
-#[doc(inline)]
-pub use libp2p_deflate as deflate;
+#[deprecated(
+    note = "Will be removed in the next release, see https://github.com/libp2p/rust-libp2p/issues/4522 for details."
+)]
+pub mod deflate {
+    pub use libp2p_deflate::*;
+}
 #[cfg(feature = "dns")]
 #[cfg_attr(docsrs, doc(cfg(feature = "dns")))]
 #[cfg(not(target_arch = "wasm32"))]
diff --git a/transports/deflate/CHANGELOG.md b/transports/deflate/CHANGELOG.md
index f75a7bf2e73..bb1b85d64db 100644
--- a/transports/deflate/CHANGELOG.md
+++ b/transports/deflate/CHANGELOG.md
@@ -1,3 +1,9 @@
+## 0.40.1 - unreleased
+
+- Deprecate in preparation for removal from the workspace.
+  See [issue 4522](https://github.com/libp2p/rust-libp2p/issues/4522) for details.
+  See [PR 4540](https://github.com/libp2p/rust-libp2p/pull/4540).
+
 ## 0.40.0 
 
 - Raise MSRV to 1.65.
diff --git a/transports/deflate/Cargo.toml b/transports/deflate/Cargo.toml
index 1d0963165f0..95f552f63c8 100644
--- a/transports/deflate/Cargo.toml
+++ b/transports/deflate/Cargo.toml
@@ -3,7 +3,7 @@ name = "libp2p-deflate"
 edition = "2021"
 rust-version = { workspace = true }
 description = "Deflate encryption protocol for libp2p"
-version = "0.40.0"
+version = "0.40.1"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
diff --git a/transports/deflate/src/lib.rs b/transports/deflate/src/lib.rs
index 0d83713888e..54367ff2bff 100644
--- a/transports/deflate/src/lib.rs
+++ b/transports/deflate/src/lib.rs
@@ -1,3 +1,4 @@
+#![allow(deprecated)]
 // Copyright 2019 Parity Technologies (UK) Ltd.
 //
 // Permission is hereby granted, free of charge, to any person obtaining a
@@ -17,13 +18,15 @@
 // LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING
 // FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER
 // DEALINGS IN THE SOFTWARE.
-
 #![cfg_attr(docsrs, feature(doc_cfg, doc_auto_cfg))]
 
 use futures::{prelude::*, ready};
 use libp2p_core::{InboundUpgrade, OutboundUpgrade, UpgradeInfo};
 use std::{io, iter, pin::Pin, task::Context, task::Poll};
 
+#[deprecated(
+    note = "Will be removed in the next release, see https://github.com/libp2p/rust-libp2p/issues/4522 for details."
+)]
 #[derive(Debug, Copy, Clone)]
 pub struct DeflateConfig {
     compression: flate2::Compression,
diff --git a/transports/deflate/tests/test.rs b/transports/deflate/tests/test.rs
index 504888a7eca..4224dcf435b 100644
--- a/transports/deflate/tests/test.rs
+++ b/transports/deflate/tests/test.rs
@@ -1,3 +1,5 @@
+#![allow(deprecated)]
+
 // Copyright 2019 Parity Technologies (UK) Ltd.
 //
 // Permission is hereby granted, free of charge, to any person obtaining a