diff --git a/README.md b/README.md
index 49e15ab1..15a1da13 100644
--- a/README.md
+++ b/README.md
@@ -30,6 +30,7 @@ Name | Description |
 [linode.cloud.firewall_device](./docs/modules/firewall_device.md)|Manage Linode Firewall Devices.|
 [linode.cloud.image](./docs/modules/image.md)|Manage a Linode Image.|
 [linode.cloud.instance](./docs/modules/instance.md)|Manage Linode Instances, Configs, and Disks.|
+[linode.cloud.ip](./docs/modules/ip.md)|Allocates a new IPv4 Address on your Account. The Linode must be configured to support additional addresses - please Open a support ticket requesting additional addresses before attempting allocation.|
 [linode.cloud.ip_assign](./docs/modules/ip_assign.md)|Assign IPs to Linodes in a given Region.|
 [linode.cloud.ip_rdns](./docs/modules/ip_rdns.md)|Manage a Linode IP address's rDNS.|
 [linode.cloud.ip_share](./docs/modules/ip_share.md)|Manage the Linode shared IPs.|
diff --git a/docs/modules/ip.md b/docs/modules/ip.md
new file mode 100644
index 00000000..f9175fce
--- /dev/null
+++ b/docs/modules/ip.md
@@ -0,0 +1,38 @@
+# ip
+
+Allocates a new IPv4 Address on your Account. The Linode must be configured to support additional addresses - please Open a support ticket requesting additional addresses before attempting allocation.
+
+- [Minimum Required Fields](#minimum-required-fields)
+- [Examples](#examples)
+- [Parameters](#parameters)
+- [Return Values](#return-values)
+
+## Minimum Required Fields
+| Field       | Type  | Required     | Description                                                                                                                                                                                                              |
+|-------------|-------|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
+| `api_token` | `str` | **Required** | The Linode account personal access token. It is necessary to run the module. <br/>It can be exposed by the environment variable `LINODE_API_TOKEN` instead. <br/>See details in [Usage](https://github.com/linode/ansible_linode?tab=readme-ov-file#usage). |
+
+## Examples
+
+```yaml
+- name: Allocate IP to Linode
+  linode.cloud.ip:
+    linode_id: 123
+    public: true
+    type: ipv4
+    state: present
+```
+
+
+## Parameters
+
+| Field     | Type | Required | Description                                                                  |
+|-----------|------|----------|------------------------------------------------------------------------------|
+| `state` | <center>`str`</center> | <center>**Required**</center> | The state of this IP.  **(Choices: `present`, `absent`)** |
+| `linode_id` | <center>`int`</center> | <center>Optional</center> | The ID of a Linode you have access to that this address will be allocated to.   |
+| `public` | <center>`bool`</center> | <center>Optional</center> | Whether to create a public or private IPv4 address.   |
+| `type` | <center>`str`</center> | <center>Optional</center> | The type of address you are requesting. Only IPv4 addresses may be allocated through this operation.  **(Choices: `ipv4`)** |
+| `address` | <center>`str`</center> | <center>Optional</center> | The IP address to delete.  **(Conflicts With: `linode_id`,`public`,`type`)** |
+
+## Return Values
+
diff --git a/plugins/module_utils/doc_fragments/ip.py b/plugins/module_utils/doc_fragments/ip.py
new file mode 100644
index 00000000..aefaed91
--- /dev/null
+++ b/plugins/module_utils/doc_fragments/ip.py
@@ -0,0 +1,25 @@
+"""Documentation fragments for the ip module"""
+specdoc_examples = ['''
+- name: Allocate IP to Linode
+  linode.cloud.ip:
+    linode_id: 123
+    public: true
+    type: ipv4
+    state: present''']
+
+result_ip_samples = ['''{
+  "address": "97.107.143.141",
+  "gateway": "97.107.143.1",
+  "linode_id": 123,
+  "prefix": 24,
+  "public": true,
+  "rdns": "test.example.org",
+  "region": "us-east",
+  "subnet_mask": "255.255.255.0",
+  "type": "ipv4",
+  "vpc_nat_1_1": {
+    "vpc_id": 242,
+    "subnet_id": 194,
+    "address": "139.144.244.36"
+  }
+}''']
diff --git a/plugins/modules/ip.py b/plugins/modules/ip.py
new file mode 100644
index 00000000..073d437d
--- /dev/null
+++ b/plugins/modules/ip.py
@@ -0,0 +1,137 @@
+#!/usr/bin/python
+# -*- coding: utf-8 -*-
+"""This module allows users to allocate a new IPv4 Address on their accounts."""
+
+from __future__ import absolute_import, division, print_function
+
+from typing import Any, Optional
+
+import ansible_collections.linode.cloud.plugins.module_utils.doc_fragments.ip as docs
+from ansible_collections.linode.cloud.plugins.module_utils.linode_common import (
+    LinodeModuleBase,
+)
+from ansible_collections.linode.cloud.plugins.module_utils.linode_docs import (
+    global_authors,
+    global_requirements,
+)
+from ansible_collections.linode.cloud.plugins.module_utils.linode_helper import (
+    filter_null_values,
+)
+from ansible_specdoc.objects import FieldType, SpecDocMeta, SpecField
+
+spec: dict = {
+    "linode_id": SpecField(
+        type=FieldType.integer,
+        description=[
+            "The ID of a Linode you have access to "
+            "that this address will be allocated to."
+        ],
+    ),
+    "public": SpecField(
+        type=FieldType.bool,
+        description=["Whether to create a public or private IPv4 address."],
+    ),
+    "type": SpecField(
+        type=FieldType.string,
+        choices=["ipv4"],
+        description=[
+            "The type of address you are requesting. "
+            "Only IPv4 addresses may be allocated through this operation."
+        ],
+    ),
+    "address": SpecField(
+        type=FieldType.string,
+        description=["The IP address to delete."],
+        conflicts_with=["linode_id", "public", "type"],
+    ),
+    "state": SpecField(
+        type=FieldType.string,
+        choices=["present", "absent"],
+        required=True,
+        description=["The state of this IP."],
+    ),
+}
+
+SPECDOC_META = SpecDocMeta(
+    description=[
+        "Allocates a new IPv4 Address on your Account. "
+        "The Linode must be configured to support "
+        "additional addresses - "
+        "please Open a support ticket "
+        "requesting additional addresses before attempting allocation.",
+    ],
+    requirements=global_requirements,
+    author=global_authors,
+    options=spec,
+    examples=docs.specdoc_examples,
+    return_values={},
+)
+
+DOCUMENTATION = r"""
+"""
+EXAMPLES = r"""
+"""
+RETURN = r"""
+"""
+
+
+class Module(LinodeModuleBase):
+    """Module for allocating a new IP"""
+
+    def __init__(self) -> None:
+        self.module_arg_spec = SPECDOC_META.ansible_spec
+        self.results = {
+            "changed": False,
+            "actions": [],
+            "ip": None,
+        }
+        super().__init__(
+            module_arg_spec=self.module_arg_spec,
+            required_together=[
+                ("linode_id", "public", "type"),
+            ],
+        )
+
+    def _handle_present(self) -> None:
+        params = filter_null_values(self.module.params)
+        linode_id = params.get("linode_id")
+        public = params.get("public")
+
+        try:
+            ip = self.client.networking.ip_allocate(linode_id, public)
+            self.register_action(
+                f"IP allocation to Linode {linode_id} completed."
+            )
+        except Exception as exc:
+            self.fail(msg=f"failed to allocate IP to Linode {linode_id}: {exc}")
+
+        self.results["ip"] = ip._raw_json
+
+    def _handle_absent(self) -> None:
+        # TODO: Implement deleting IP once it's available in python-sdk.
+        #  Raise an error for now when user reaches deleting IP.
+        self.fail(
+            msg="failed to delete IP: IP deleting is currently not supported."
+        )
+
+    def exec_module(self, **kwargs: Any) -> Optional[dict]:
+        """Entrypoint for IP module"""
+
+        state = kwargs.get("state")
+
+        if state == "absent":
+            self._handle_absent()
+            return self.results
+
+        self._handle_present()
+
+        return self.results
+
+
+def main() -> None:
+    """Constructs and calls the module"""
+    Module()
+
+
+if __name__ == "__main__":
+    main()
diff --git a/tests/integration/targets/ip_basic/tasks/main.yaml b/tests/integration/targets/ip_basic/tasks/main.yaml
new file mode 100644
index 00000000..ce9e7524
--- /dev/null
+++ b/tests/integration/targets/ip_basic/tasks/main.yaml
@@ -0,0 +1,53 @@
+- name: ip
+  block:
+    - set_fact:
+        r: "{{ 1000000000 | random }}"
+
+    - name: Create a Linode Instance
+      linode.cloud.instance:
+        label: 'ansible-test-{{ r }}'
+        region: us-southeast
+        type: g6-standard-1
+        image: linode/alpine3.19
+        state: present
+        firewall_id: '{{ firewall_id }}'
+      register: create_instance
+
+    - name: Allocate a new IP to the Linode
+      linode.cloud.ip:
+        linode_id: '{{ create_instance.instance.id }}'
+        public: true
+        type: ipv4
+        state: present
+      register: allocate_ip
+
+    - name: Assert changes
+      assert:
+        that:
+          - allocate_ip.ip.linode_id == create_instance.instance.id
+          - allocate_ip.ip.type == 'ipv4'
+          - allocate_ip.ip.region == create_instance.instance.region
+
+#    - name: Delete an IP
+#      linode.cloud.ip:
+#        address: allocate_ip.ip.address
+#        state: absent
+#      register: delete_ip
+
+  always:
+    - ignore_errors: true
+      block:
+        - name: Delete instance
+          linode.cloud.instance:
+            label: '{{ create_instance.instance.label }}'
+            state: absent
+
+
+  environment:
+    LINODE_UA_PREFIX: '{{ ua_prefix }}'
+    LINODE_API_TOKEN: '{{ api_token }}'
+    LINODE_API_URL: '{{ api_url }}'
+    LINODE_API_VERSION: '{{ api_version }}'
+    LINODE_CA: '{{ ca_file or "" }}'
+
+