diff --git a/docs/changelog/128846.yaml b/docs/changelog/128846.yaml
new file mode 100644
index 0000000000000..245dd26142495
--- /dev/null
+++ b/docs/changelog/128846.yaml
@@ -0,0 +1,5 @@
+pr: 128846
+summary: Generate `IndexOrDocValuesQuery` for term queries in `IpFieldMapper`
+area: Search
+type: enhancement
+issues: []
diff --git a/server/src/main/java/org/elasticsearch/index/mapper/IpFieldMapper.java b/server/src/main/java/org/elasticsearch/index/mapper/IpFieldMapper.java
index 8e7cf41ca21b7..d60dc134bd124 100644
--- a/server/src/main/java/org/elasticsearch/index/mapper/IpFieldMapper.java
+++ b/server/src/main/java/org/elasticsearch/index/mapper/IpFieldMapper.java
@@ -347,7 +347,9 @@ public Query termQuery(Object value, @Nullable SearchExecutionContext context) {
                     query = InetAddressPoint.newExactQuery(name(), address);
                 }
             }
-            if (isIndexed()) {
+            if (isIndexed() && hasDocValues()) {
+                return new IndexOrDocValuesQuery(query, convertToDocValuesQuery(query));
+            } else if (isIndexed()) {
                 return query;
             } else {
                 return convertToDocValuesQuery(query);
diff --git a/server/src/test/java/org/elasticsearch/index/mapper/IpFieldTypeTests.java b/server/src/test/java/org/elasticsearch/index/mapper/IpFieldTypeTests.java
index 895a81a838a9c..82efc524ade5b 100644
--- a/server/src/test/java/org/elasticsearch/index/mapper/IpFieldTypeTests.java
+++ b/server/src/test/java/org/elasticsearch/index/mapper/IpFieldTypeTests.java
@@ -56,13 +56,33 @@ public void testTermQuery() {
         MappedFieldType ft = new IpFieldMapper.IpFieldType("field");
 
         String ip = "2001:db8::2:1";
+        Query query = InetAddressPoint.newExactQuery("field", InetAddresses.forString(ip));
+        assertEquals(new IndexOrDocValuesQuery(query, convertToDocValuesQuery(query)), ft.termQuery(ip, MOCK_CONTEXT));
+
+        ip = "192.168.1.7";
+        query = InetAddressPoint.newExactQuery("field", InetAddresses.forString(ip));
+        assertEquals(new IndexOrDocValuesQuery(query, convertToDocValuesQuery(query)), ft.termQuery(ip, MOCK_CONTEXT));
+
+        ip = "2001:db8::2:1";
+        String prefix = ip + "/64";
+        query = InetAddressPoint.newPrefixQuery("field", InetAddresses.forString(ip), 64);
+        assertEquals(new IndexOrDocValuesQuery(query, convertToDocValuesQuery(query)), ft.termQuery(prefix, MOCK_CONTEXT));
+
+        ip = "192.168.1.7";
+        prefix = ip + "/16";
+        query = InetAddressPoint.newPrefixQuery("field", InetAddresses.forString(ip), 16);
+        assertEquals(new IndexOrDocValuesQuery(query, convertToDocValuesQuery(query)), ft.termQuery(prefix, MOCK_CONTEXT));
+
+        ft = new IpFieldMapper.IpFieldType("field", true, false);
+
+        ip = "2001:db8::2:1";
         assertEquals(InetAddressPoint.newExactQuery("field", InetAddresses.forString(ip)), ft.termQuery(ip, MOCK_CONTEXT));
 
         ip = "192.168.1.7";
         assertEquals(InetAddressPoint.newExactQuery("field", InetAddresses.forString(ip)), ft.termQuery(ip, MOCK_CONTEXT));
 
         ip = "2001:db8::2:1";
-        String prefix = ip + "/64";
+        prefix = ip + "/64";
         assertEquals(InetAddressPoint.newPrefixQuery("field", InetAddresses.forString(ip), 64), ft.termQuery(prefix, MOCK_CONTEXT));
 
         ip = "192.168.1.7";