diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4a0c937164c..8a24f796ccb 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -8,6 +8,10 @@ This project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.htm
 
 ## [Unreleased]
 
+### Fixed
+
+- Correct comments for the priority of the `WithEndpoint` and `WithEndpointURL` options and their corresponding environment variables in `go.opentelemetry.io/otel/exporters/otlp/otlptrace/otlptracehttp`. (#5584)
+
 <!-- Released section -->
 <!-- Don't change this section unless doing release -->
 
diff --git a/exporters/otlp/otlptrace/otlptracegrpc/internal/otlpconfig/options_test.go b/exporters/otlp/otlptrace/otlptracegrpc/internal/otlpconfig/options_test.go
index 715c04fd6b3..46d0d105fb4 100644
--- a/exporters/otlp/otlptrace/otlptracegrpc/internal/otlpconfig/options_test.go
+++ b/exporters/otlp/otlptrace/otlptracegrpc/internal/otlpconfig/options_test.go
@@ -127,6 +127,26 @@ func TestConfigs(t *testing.T) {
 				assert.Equal(t, "/v1/traces", c.Traces.URLPath)
 			},
 		},
+		{
+			name: "Test With Endpoint last used",
+			opts: []GenericOption{
+				WithEndpointURL("https://someendpoint/somepath"),
+				WithEndpoint("someendpoint2"),
+			},
+			asserts: func(t *testing.T, c *Config, grpcOption bool) {
+				assert.Equal(t, "someendpoint2", c.Traces.Endpoint)
+			},
+		},
+		{
+			name: "Test With WithEndpointURL last used",
+			opts: []GenericOption{
+				WithEndpoint("someendpoint2"),
+				WithEndpointURL("https://someendpoint/somepath"),
+			},
+			asserts: func(t *testing.T, c *Config, grpcOption bool) {
+				assert.Equal(t, "someendpoint", c.Traces.Endpoint)
+			},
+		},
 		{
 			name: "Test Environment Endpoint",
 			env: map[string]string{
@@ -159,15 +179,31 @@ func TestConfigs(t *testing.T) {
 		{
 			name: "Test Mixed Environment and With Endpoint",
 			opts: []GenericOption{
+				WithEndpointURL("https://traces_endpoint2/somepath"),
 				WithEndpoint("traces_endpoint"),
 			},
 			env: map[string]string{
-				"OTEL_EXPORTER_OTLP_ENDPOINT": "env_endpoint",
+				"OTEL_EXPORTER_OTLP_ENDPOINT":        "env_endpoint",
+				"OTEL_EXPORTER_OTLP_TRACES_ENDPOINT": "env_endpoint2",
 			},
 			asserts: func(t *testing.T, c *Config, grpcOption bool) {
 				assert.Equal(t, "traces_endpoint", c.Traces.Endpoint)
 			},
 		},
+		{
+			name: "Test Mixed Environment and With Endpoint",
+			opts: []GenericOption{
+				WithEndpoint("traces_endpoint"),
+				WithEndpointURL("https://traces_endpoint2/somepath"),
+			},
+			env: map[string]string{
+				"OTEL_EXPORTER_OTLP_ENDPOINT":        "env_endpoint",
+				"OTEL_EXPORTER_OTLP_TRACES_ENDPOINT": "env_endpoint2",
+			},
+			asserts: func(t *testing.T, c *Config, grpcOption bool) {
+				assert.Equal(t, "traces_endpoint2", c.Traces.Endpoint)
+			},
+		},
 		{
 			name: "Test Environment Endpoint with HTTP scheme",
 			env: map[string]string{
diff --git a/exporters/otlp/otlptrace/otlptracehttp/internal/otlpconfig/options_test.go b/exporters/otlp/otlptrace/otlptracehttp/internal/otlpconfig/options_test.go
index 1a4e5aab110..7ac0711d0eb 100644
--- a/exporters/otlp/otlptrace/otlptracehttp/internal/otlpconfig/options_test.go
+++ b/exporters/otlp/otlptrace/otlptracehttp/internal/otlpconfig/options_test.go
@@ -127,6 +127,26 @@ func TestConfigs(t *testing.T) {
 				assert.Equal(t, "/v1/traces", c.Traces.URLPath)
 			},
 		},
+		{
+			name: "Test With Endpoint last used",
+			opts: []GenericOption{
+				WithEndpointURL("https://someendpoint/somepath"),
+				WithEndpoint("someendpoint2"),
+			},
+			asserts: func(t *testing.T, c *Config, grpcOption bool) {
+				assert.Equal(t, "someendpoint2", c.Traces.Endpoint)
+			},
+		},
+		{
+			name: "Test With WithEndpointURL last used",
+			opts: []GenericOption{
+				WithEndpoint("someendpoint2"),
+				WithEndpointURL("https://someendpoint/somepath"),
+			},
+			asserts: func(t *testing.T, c *Config, grpcOption bool) {
+				assert.Equal(t, "someendpoint", c.Traces.Endpoint)
+			},
+		},
 		{
 			name: "Test Environment Endpoint",
 			env: map[string]string{
@@ -159,15 +179,31 @@ func TestConfigs(t *testing.T) {
 		{
 			name: "Test Mixed Environment and With Endpoint",
 			opts: []GenericOption{
+				WithEndpointURL("https://traces_endpoint2/somepath"),
 				WithEndpoint("traces_endpoint"),
 			},
 			env: map[string]string{
-				"OTEL_EXPORTER_OTLP_ENDPOINT": "env_endpoint",
+				"OTEL_EXPORTER_OTLP_ENDPOINT":        "env_endpoint",
+				"OTEL_EXPORTER_OTLP_TRACES_ENDPOINT": "env_endpoint2",
 			},
 			asserts: func(t *testing.T, c *Config, grpcOption bool) {
 				assert.Equal(t, "traces_endpoint", c.Traces.Endpoint)
 			},
 		},
+		{
+			name: "Test Mixed Environment and With Endpoint",
+			opts: []GenericOption{
+				WithEndpoint("traces_endpoint"),
+				WithEndpointURL("https://traces_endpoint2/somepath"),
+			},
+			env: map[string]string{
+				"OTEL_EXPORTER_OTLP_ENDPOINT":        "env_endpoint",
+				"OTEL_EXPORTER_OTLP_TRACES_ENDPOINT": "env_endpoint2",
+			},
+			asserts: func(t *testing.T, c *Config, grpcOption bool) {
+				assert.Equal(t, "traces_endpoint2", c.Traces.Endpoint)
+			},
+		},
 		{
 			name: "Test Environment Endpoint with HTTP scheme",
 			env: map[string]string{
diff --git a/exporters/otlp/otlptrace/otlptracehttp/options.go b/exporters/otlp/otlptrace/otlptracehttp/options.go
index 6497f3ccdd0..3559c5664f4 100644
--- a/exporters/otlp/otlptrace/otlptracehttp/options.go
+++ b/exporters/otlp/otlptrace/otlptracehttp/options.go
@@ -62,8 +62,10 @@ func (w wrappedOption) applyHTTPOption(cfg otlpconfig.Config) otlpconfig.Config
 //
 // If the OTEL_EXPORTER_OTLP_ENDPOINT or OTEL_EXPORTER_OTLP_TRACES_ENDPOINT
 // environment variable is set, and this option is not passed, that variable
-// value will be used. If both are set, OTEL_EXPORTER_OTLP_TRACES_ENDPOINT
-// will take precedence. Note, both environment variables include the full
+// value will be used. If both environment variables are set,
+// OTEL_EXPORTER_OTLP_TRACES_ENDPOINT will take precedence. If an environment
+// variable is set, and this option is passed, this option will take precedence.
+// Note, both environment variables include the full
 // scheme and path, while WithEndpoint sets only the host and port.
 //
 // If both this option and WithEndpointURL are used, the last used option will
@@ -82,8 +84,9 @@ func WithEndpoint(endpoint string) Option {
 //
 // If the OTEL_EXPORTER_OTLP_ENDPOINT or OTEL_EXPORTER_OTLP_TRACES_ENDPOINT
 // environment variable is set, and this option is not passed, that variable
-// value will be used. If both are set, OTEL_EXPORTER_OTLP_TRACES_ENDPOINT
-// will take precedence.
+// value will be used. If both environment variables are set,
+// OTEL_EXPORTER_OTLP_TRACES_ENDPOINT will take precedence. If an environment
+// variable is set, and this option is passed, this option will take precedence.
 //
 // If both this option and WithEndpoint are used, the last used option will
 // take precedence.
diff --git a/internal/shared/otlp/otlptrace/otlpconfig/options_test.go.tmpl b/internal/shared/otlp/otlptrace/otlpconfig/options_test.go.tmpl
index 8d670a5aa9a..2688db9db51 100644
--- a/internal/shared/otlp/otlptrace/otlpconfig/options_test.go.tmpl
+++ b/internal/shared/otlp/otlptrace/otlpconfig/options_test.go.tmpl
@@ -127,6 +127,26 @@ func TestConfigs(t *testing.T) {
 				assert.Equal(t, "/v1/traces", c.Traces.URLPath)
 			},
 		},
+		{
+			name: "Test With Endpoint last used",
+			opts: []GenericOption{
+				WithEndpointURL("https://someendpoint/somepath"),
+				WithEndpoint("someendpoint2"),
+			},
+			asserts: func(t *testing.T, c *Config, grpcOption bool) {
+				assert.Equal(t, "someendpoint2", c.Traces.Endpoint)
+			},
+		},
+		{
+			name: "Test With WithEndpointURL last used",
+			opts: []GenericOption{
+				WithEndpoint("someendpoint2"),
+				WithEndpointURL("https://someendpoint/somepath"),
+			},
+			asserts: func(t *testing.T, c *Config, grpcOption bool) {
+				assert.Equal(t, "someendpoint", c.Traces.Endpoint)
+			},
+		},
 		{
 			name: "Test Environment Endpoint",
 			env: map[string]string{
@@ -159,15 +179,31 @@ func TestConfigs(t *testing.T) {
 		{
 			name: "Test Mixed Environment and With Endpoint",
 			opts: []GenericOption{
+				WithEndpointURL("https://traces_endpoint2/somepath"),
 				WithEndpoint("traces_endpoint"),
 			},
 			env: map[string]string{
-				"OTEL_EXPORTER_OTLP_ENDPOINT": "env_endpoint",
+				"OTEL_EXPORTER_OTLP_ENDPOINT":        "env_endpoint",
+				"OTEL_EXPORTER_OTLP_TRACES_ENDPOINT": "env_endpoint2",
 			},
 			asserts: func(t *testing.T, c *Config, grpcOption bool) {
 				assert.Equal(t, "traces_endpoint", c.Traces.Endpoint)
 			},
 		},
+		{
+			name: "Test Mixed Environment and With Endpoint",
+			opts: []GenericOption{
+				WithEndpoint("traces_endpoint"),
+				WithEndpointURL("https://traces_endpoint2/somepath"),
+			},
+			env: map[string]string{
+				"OTEL_EXPORTER_OTLP_ENDPOINT":        "env_endpoint",
+				"OTEL_EXPORTER_OTLP_TRACES_ENDPOINT": "env_endpoint2",
+			},
+			asserts: func(t *testing.T, c *Config, grpcOption bool) {
+				assert.Equal(t, "traces_endpoint2", c.Traces.Endpoint)
+			},
+		},
 		{
 			name: "Test Environment Endpoint with HTTP scheme",
 			env: map[string]string{