diff --git a/features/search-replace.feature b/features/search-replace.feature
index 2bccd606..6fdd653f 100644
--- a/features/search-replace.feature
+++ b/features/search-replace.feature
@@ -303,17 +303,102 @@ Feature: Do global search/replace
       http:\/\/example.com
       """
 
-    When I run `wp search-replace 'http://newdomain.com' 'http://example.com' wp_posts --include-columns=post_content --precise`
+  Scenario: Search and replace serialized array keys with --replace-keys
+    Given a WP install
+    And a setup-serialized-array-key.php file:
+      """
+      <?php
+      update_option( 'replace_key_option', array( 'sr-key-old' => 'value' ) );
+      """
+    And I run `wp eval-file setup-serialized-array-key.php`
+
+    When I run `wp search-replace sr-key-old sr-key-new --dry-run`
     Then STDOUT should be a table containing rows:
-      | Table    | Column       | Replacements | Type |
-      | wp_posts | post_content | 1            | PHP  |
+      | Table      | Column       | Replacements | Type |
+      | wp_options | option_value | 0            | PHP  |
 
-    When I run `wp post get {POST_ID} --field=post_content`
-    Then STDOUT should contain:
+    When I run `wp search-replace sr-key-old sr-key-new --replace-keys --dry-run`
+    Then STDOUT should be a table containing rows:
+      | Table      | Column       | Replacements | Type |
+      | wp_options | option_value | 1            | PHP  |
+
+    When I run `wp search-replace sr-key-old sr-key-new --replace-keys`
+    And I run `wp option get replace_key_option --format=json`
+    Then STDOUT should be JSON containing:
       """
-      http:\/\/example.com
+      {"sr-key-new":"value"}
       """
 
+  Scenario: Search and replace nested serialized array keys with --replace-keys
+    Given a WP install
+    And a setup-nested-serialized-array-key.php file:
+      """
+      <?php
+      update_option(
+      	'replace_nested_key_option',
+      	array(
+      		'outer' => array(
+      			'sr-key-old' => 'value',
+      		),
+      	)
+      );
+      """
+    And I run `wp eval-file setup-nested-serialized-array-key.php`
+
+    When I run `wp search-replace sr-key-old sr-key-new --replace-keys --dry-run`
+    Then STDOUT should be a table containing rows:
+      | Table      | Column       | Replacements | Type |
+      | wp_options | option_value | 1            | PHP  |
+
+    When I run `wp search-replace sr-key-old sr-key-new --replace-keys`
+    And I run `wp option get replace_nested_key_option --format=json`
+    Then STDOUT should be JSON containing:
+      """
+      {"outer":{"sr-key-new":"value"}}
+      """
+
+  Scenario: Search and replace key and value with --replace-keys
+    Given a WP install
+    And a setup-key-and-value-option.php file:
+      """
+      <?php
+      update_option( 'replace_key_and_value_option', array( 'sr-key-old' => 'sr-key-old' ) );
+      """
+    And I run `wp eval-file setup-key-and-value-option.php`
+
+    When I run `wp search-replace sr-key-old sr-key-new --replace-keys --dry-run`
+    Then STDOUT should be a table containing rows:
+      | Table      | Column       | Replacements | Type |
+      | wp_options | option_value | 1            | PHP  |
+
+    When I run `wp search-replace sr-key-old sr-key-new --replace-keys`
+    And I run `wp option get replace_key_and_value_option --format=json`
+    Then STDOUT should be JSON containing:
+      """
+      {"sr-key-new":"sr-key-new"}
+      """
+
+  Scenario: Search and replace colliding serialized array keys with --replace-keys
+    Given a WP install
+    And a setup-colliding-keys-option.php file:
+      """
+      <?php
+      update_option(
+      	'replace_colliding_keys_option',
+      	array(
+      		'sr-key-old' => 'from-old',
+      		'sr-key-new' => 'existing',
+      	)
+      );
+      """
+    And I run `wp eval-file setup-colliding-keys-option.php`
+
+    When I run `wp search-replace sr-key-old sr-key-new --replace-keys`
+    And I run `wp option get replace_colliding_keys_option --format=json`
+    Then STDOUT should be JSON containing:
+      """
+      {"sr-key-new":"from-old"}
+      """
   @require-mysql
   Scenario: Search and replace with quoted strings
     Given a WP install
diff --git a/src/Search_Replace_Command.php b/src/Search_Replace_Command.php
index 8423560d..88445ecf 100644
--- a/src/Search_Replace_Command.php
+++ b/src/Search_Replace_Command.php
@@ -37,6 +37,11 @@ class Search_Replace_Command extends WP_CLI_Command {
 	 */
 	private $recurse_objects;
 
+	/**
+	 * @var bool
+	 */
+	private $replace_keys;
+
 	/**
 	 * @var bool
 	 */
@@ -214,6 +219,9 @@ class Search_Replace_Command extends WP_CLI_Command {
 	 * : Enable recursing into objects to replace strings. Defaults to true;
 	 * pass --no-recurse-objects to disable.
 	 *
+	 * [--replace-keys]
+	 * : Enable replacing string keys in serialized arrays.
+	 *
 	 * [--verbose]
 	 * : Prints rows to the console as they're updated.
 	 *
@@ -287,7 +295,7 @@ class Search_Replace_Command extends WP_CLI_Command {
 	 *     fi
 	 *
 	 * @param array<string> $args Positional arguments.
-	 * @param array{'old'?: string, 'new'?: string, 'dry-run'?: bool, 'network'?: bool, 'all-tables-with-prefix'?: bool, 'all-tables'?: bool, 'export'?: string, 'export_insert_size'?: string, 'skip-tables'?: string, 'skip-columns'?: string, 'include-columns'?: string, 'precise'?: bool, 'recurse-objects'?: bool, 'verbose'?: bool, 'regex'?: bool, 'regex-flags'?: string, 'regex-delimiter'?: string, 'regex-limit'?: string, 'format': string, 'report'?: bool, 'report-changed-only'?: bool, 'log'?: string, 'before_context'?: string, 'after_context'?: string} $assoc_args Associative arguments.
+	 * @param array{'old'?: string, 'new'?: string, 'dry-run'?: bool, 'network'?: bool, 'all-tables-with-prefix'?: bool, 'all-tables'?: bool, 'export'?: string, 'export_insert_size'?: string, 'skip-tables'?: string, 'skip-columns'?: string, 'include-columns'?: string, 'precise'?: bool, 'recurse-objects'?: bool, 'replace-keys'?: bool, 'verbose'?: bool, 'regex'?: bool, 'regex-flags'?: string, 'regex-delimiter'?: string, 'regex-limit'?: string, 'format': string, 'report'?: bool, 'report-changed-only'?: bool, 'log'?: string, 'before_context'?: string, 'after_context'?: string} $assoc_args Associative arguments.
 	 */
 	public function __invoke( $args, $assoc_args ) {
 		global $wpdb;
@@ -333,6 +341,7 @@ public function __invoke( $args, $assoc_args ) {
 		$this->dry_run         = Utils\get_flag_value( $assoc_args, 'dry-run', false );
 		$php_only              = Utils\get_flag_value( $assoc_args, 'precise', false );
 		$this->recurse_objects = Utils\get_flag_value( $assoc_args, 'recurse-objects', true );
+		$this->replace_keys    = Utils\get_flag_value( $assoc_args, 'replace-keys', false );
 		$this->verbose         = Utils\get_flag_value( $assoc_args, 'verbose', false );
 		$this->format          = Utils\get_flag_value( $assoc_args, 'format' );
 		$this->regex           = Utils\get_flag_value( $assoc_args, 'regex', false );
@@ -638,7 +647,7 @@ private function php_export_table( $table, $old, $new ) {
 			'chunk_size' => $chunk_size,
 		);
 
-		$replacer   = new SearchReplacer( $old, $new, $this->recurse_objects, $this->regex, $this->regex_flags, $this->regex_delimiter, false, $this->regex_limit );
+		$replacer   = new SearchReplacer( $old, $new, $this->recurse_objects, $this->replace_keys, $this->regex, $this->regex_flags, $this->regex_delimiter, false, $this->regex_limit );
 		$col_counts = array_fill_keys( $all_columns, 0 );
 		if ( $this->verbose && 'table' === $this->format ) {
 			$this->start_time = microtime( true );
@@ -743,7 +752,7 @@ private function php_handle_col( $col, $primary_keys, $table, $old, $new ) {
 		global $wpdb;
 
 		$count    = 0;
-		$replacer = new SearchReplacer( $old, $new, $this->recurse_objects, $this->regex, $this->regex_flags, $this->regex_delimiter, null !== $this->log_handle, $this->regex_limit );
+		$replacer = new SearchReplacer( $old, $new, $this->recurse_objects, $this->replace_keys, $this->regex, $this->regex_flags, $this->regex_delimiter, null !== $this->log_handle, $this->regex_limit );
 
 		$table_sql = self::esc_sql_ident( $table );
 		$col_sql   = self::esc_sql_ident( $col );
diff --git a/src/WP_CLI/SearchReplacer.php b/src/WP_CLI/SearchReplacer.php
index 6f3bea9f..5e00946b 100644
--- a/src/WP_CLI/SearchReplacer.php
+++ b/src/WP_CLI/SearchReplacer.php
@@ -32,6 +32,11 @@ class SearchReplacer {
 	 */
 	private $recurse_objects;
 
+	/**
+	 * @var bool
+	 */
+	private $replace_keys;
+
 	/**
 	 * @var bool
 	 */
@@ -71,16 +76,18 @@ class SearchReplacer {
 	 * @param string  $from            String we're looking to replace.
 	 * @param string  $to              What we want it to be replaced with.
 	 * @param bool    $recurse_objects Should objects be recursively replaced?
+	 * @param bool    $replace_keys    Should array keys be replaced?
 	 * @param bool    $regex           Whether `$from` is a regular expression.
 	 * @param string  $regex_flags     Flags for regular expression.
 	 * @param string  $regex_delimiter Delimiter for regular expression.
 	 * @param bool    $logging         Whether logging.
 	 * @param integer $regex_limit     The maximum possible replacements for each pattern in each subject string.
 	 */
-	public function __construct( $from, $to, $recurse_objects = false, $regex = false, $regex_flags = '', $regex_delimiter = '/', $logging = false, $regex_limit = -1 ) {
+	public function __construct( $from, $to, $recurse_objects = false, $replace_keys = false, $regex = false, $regex_flags = '', $regex_delimiter = '/', $logging = false, $regex_limit = -1 ) {
 		$this->from            = $from;
 		$this->to              = $to;
 		$this->recurse_objects = $recurse_objects;
+		$this->replace_keys    = $replace_keys;
 		$this->regex           = $regex;
 		$this->regex_flags     = $regex_flags;
 		$this->regex_delimiter = $regex_delimiter;
@@ -165,7 +172,17 @@ private function run_recursively( $data, $serialised, $recursion_level = 0, $vis
 			} elseif ( is_array( $data ) ) {
 				$keys = array_keys( $data );
 				foreach ( $keys as $key ) {
-					$data[ $key ] = $this->run_recursively( $data[ $key ], false, $recursion_level + 1, $visited_data );
+					$value = $this->run_recursively( $data[ $key ], false, $recursion_level + 1, $visited_data );
+					if ( $this->replace_keys && is_string( $key ) ) {
+						$replaced_key = $this->run_recursively( $key, false, $recursion_level + 1, $visited_data );
+						if ( $replaced_key !== $key ) {
+							unset( $data[ $key ] );
+							$data[ $replaced_key ] = $value;
+							continue;
+						}
+					}
+
+					$data[ $key ] = $value;
 				}
 			} elseif ( $this->recurse_objects && ( is_object( $data ) || $data instanceof \__PHP_Incomplete_Class ) ) {
 				if ( $data instanceof \__PHP_Incomplete_Class ) {