diff --git a/cmd/Kconfig b/cmd/Kconfig
index bbf9fc9..aec2090 100644
--- a/cmd/Kconfig
+++ b/cmd/Kconfig
@@ -1121,6 +1121,16 @@ config BOOTP_HOSTNAME
 	help
 	  The name may or may not be qualified with the local domain name.
 
+config BOOTP_PREFER_SERVERIP
+	bool "serverip variable takes precedent over DHCP server IP."
+	depends on CMD_BOOTP
+	help
+	  By default a BOOTP/DHCP reply will overwrite the 'serverip' variable.
+
+	  With this option enabled, the 'serverip' variable in the environment
+	  takes precedence over DHCP server IP and will only be set by the DHCP
+	  server if not already set in the environment.
+
 config BOOTP_SUBNETMASK
 	bool "Request & store 'netmask' from BOOTP/DHCP server"
 	default y
diff --git a/net/bootp.c b/net/bootp.c
index fdcb437..9a2b512 100644
--- a/net/bootp.c
+++ b/net/bootp.c
@@ -147,9 +147,14 @@ static void store_net_params(struct bootp_hdr *bp)
 {
 #if !defined(CONFIG_BOOTP_SERVERIP)
 	struct in_addr tmp_ip;
+	bool overwrite_serverip = true;
+
+#if defined(CONFIG_BOOTP_PREFER_SERVERIP)
+	overwrite_serverip = false;
+#endif
 
 	net_copy_ip(&tmp_ip, &bp->bp_siaddr);
-	if (tmp_ip.s_addr != 0)
+	if (tmp_ip.s_addr != 0 && (overwrite_serverip || !net_server_ip.s_addr))
 		net_copy_ip(&net_server_ip, &bp->bp_siaddr);
 	memcpy(net_server_ethaddr,
 	       ((struct ethernet_hdr *)net_rx_packet)->et_src, 6);