diff --git a/src/ast/ddl.rs b/src/ast/ddl.rs
index f998143c8..773b119fb 100644
--- a/src/ast/ddl.rs
+++ b/src/ast/ddl.rs
@@ -1458,12 +1458,19 @@ pub struct ProcedureParam {
     pub name: Ident,
     pub data_type: DataType,
     pub mode: Option<ArgMode>,
+    pub default: Option<Expr>,
 }
 
 impl fmt::Display for ProcedureParam {
     fn fmt(&self, f: &mut fmt::Formatter) -> fmt::Result {
         if let Some(mode) = &self.mode {
-            write!(f, "{mode} {} {}", self.name, self.data_type)
+            if let Some(default) = &self.default {
+                write!(f, "{mode} {} {} = {}", self.name, self.data_type, default)
+            } else {
+                write!(f, "{mode} {} {}", self.name, self.data_type)
+            }
+        } else if let Some(default) = &self.default {
+            write!(f, "{} {} = {}", self.name, self.data_type, default)
         } else {
             write!(f, "{} {}", self.name, self.data_type)
         }
diff --git a/src/parser/mod.rs b/src/parser/mod.rs
index d661efd4d..9682804c2 100644
--- a/src/parser/mod.rs
+++ b/src/parser/mod.rs
@@ -7897,10 +7897,17 @@ impl<'a> Parser<'a> {
         };
         let name = self.parse_identifier()?;
         let data_type = self.parse_data_type()?;
+        let default = if self.consume_token(&Token::Eq) {
+            Some(self.parse_expr()?)
+        } else {
+            None
+        };
+
         Ok(ProcedureParam {
             name,
             data_type,
             mode,
+            default,
         })
     }
 
diff --git a/tests/sqlparser_common.rs b/tests/sqlparser_common.rs
index 720c1e492..489ea3f04 100644
--- a/tests/sqlparser_common.rs
+++ b/tests/sqlparser_common.rs
@@ -16497,7 +16497,8 @@ fn parse_create_procedure_with_parameter_modes() {
                             span: fake_span,
                         },
                         data_type: DataType::Integer(None),
-                        mode: Some(ArgMode::In)
+                        mode: Some(ArgMode::In),
+                        default: None,
                     },
                     ProcedureParam {
                         name: Ident {
@@ -16506,7 +16507,8 @@ fn parse_create_procedure_with_parameter_modes() {
                             span: fake_span,
                         },
                         data_type: DataType::Text,
-                        mode: Some(ArgMode::Out)
+                        mode: Some(ArgMode::Out),
+                        default: None,
                     },
                     ProcedureParam {
                         name: Ident {
@@ -16515,7 +16517,8 @@ fn parse_create_procedure_with_parameter_modes() {
                             span: fake_span,
                         },
                         data_type: DataType::Timestamp(None, TimezoneInfo::None),
-                        mode: Some(ArgMode::InOut)
+                        mode: Some(ArgMode::InOut),
+                        default: None,
                     },
                     ProcedureParam {
                         name: Ident {
@@ -16524,13 +16527,60 @@ fn parse_create_procedure_with_parameter_modes() {
                             span: fake_span,
                         },
                         data_type: DataType::Bool,
-                        mode: None
+                        mode: None,
+                        default: None,
                     },
                 ])
             );
         }
         _ => unreachable!(),
     }
+
+    // parameters with default values
+    let sql = r#"CREATE PROCEDURE test_proc (IN a INTEGER = 1, OUT b TEXT = '2', INOUT c TIMESTAMP = NULL, d BOOL = 0) AS BEGIN SELECT 1; END"#;
+    match verified_stmt(sql) {
+        Statement::CreateProcedure {
+            or_alter,
+            name,
+            params,
+            ..
+        } => {
+            assert_eq!(or_alter, false);
+            assert_eq!(name.to_string(), "test_proc");
+            assert_eq!(
+                params,
+                Some(vec![
+                    ProcedureParam {
+                        name: Ident::new("a"),
+                        data_type: DataType::Integer(None),
+                        mode: Some(ArgMode::In),
+                        default: Some(Expr::Value((number("1")).with_empty_span())),
+                    },
+                    ProcedureParam {
+                        name: Ident::new("b"),
+                        data_type: DataType::Text,
+                        mode: Some(ArgMode::Out),
+                        default: Some(Expr::Value(
+                            Value::SingleQuotedString("2".into()).with_empty_span()
+                        )),
+                    },
+                    ProcedureParam {
+                        name: Ident::new("c"),
+                        data_type: DataType::Timestamp(None, TimezoneInfo::None),
+                        mode: Some(ArgMode::InOut),
+                        default: Some(Expr::Value(Value::Null.with_empty_span())),
+                    },
+                    ProcedureParam {
+                        name: Ident::new("d"),
+                        data_type: DataType::Bool,
+                        mode: None,
+                        default: Some(Expr::Value((number("0")).with_empty_span())),
+                    }
+                ]),
+            );
+        }
+        _ => unreachable!(),
+    }
 }
 
 #[test]
diff --git a/tests/sqlparser_mssql.rs b/tests/sqlparser_mssql.rs
index b1ad422ec..181899170 100644
--- a/tests/sqlparser_mssql.rs
+++ b/tests/sqlparser_mssql.rs
@@ -156,6 +156,7 @@ fn parse_create_procedure() {
                     },
                     data_type: DataType::Int(None),
                     mode: None,
+                    default: None,
                 },
                 ProcedureParam {
                     name: Ident {
@@ -168,6 +169,7 @@ fn parse_create_procedure() {
                         unit: None
                     })),
                     mode: None,
+                    default: None,
                 }
             ]),
             name: ObjectName::from(vec![Ident {
@@ -196,6 +198,10 @@ fn parse_mssql_create_procedure() {
     let _ = ms().verified_stmt("CREATE PROCEDURE [foo] AS BEGIN SELECT [foo], CASE WHEN [foo] IS NULL THEN 'empty' ELSE 'notempty' END AS [foo]; END");
     // Multiple statements
     let _ = ms().verified_stmt("CREATE PROCEDURE [foo] AS BEGIN UPDATE bar SET col = 'test'; SELECT [foo] FROM BAR WHERE [FOO] > 10; END");
+
+    // parameters with default values
+    let sql = r#"CREATE PROCEDURE foo (IN @a INTEGER = 1, OUT @b TEXT = '2', INOUT @c DATETIME = NULL, @d BOOL = 0) AS BEGIN SELECT 1; END"#;
+    let _ = ms().verified_stmt(sql);
 }
 
 #[test]