diff --git a/homeassistant/components/modbus/modbus.py b/homeassistant/components/modbus/modbus.py
index fdb7be3d3cf84..238df4466c432 100644
--- a/homeassistant/components/modbus/modbus.py
+++ b/homeassistant/components/modbus/modbus.py
@@ -34,6 +34,7 @@
 from homeassistant.helpers.discovery import async_load_platform
 from homeassistant.helpers.dispatcher import async_dispatcher_send
 from homeassistant.helpers.event import async_call_later
+from homeassistant.helpers.issue_registry import IssueSeverity, async_create_issue
 from homeassistant.helpers.reload import async_setup_reload_service
 from homeassistant.helpers.typing import ConfigType
 
@@ -255,6 +256,24 @@ class ModbusHub:
     def __init__(self, hass: HomeAssistant, client_config: dict[str, Any]) -> None:
         """Initialize the Modbus hub."""
 
+        if CONF_CLOSE_COMM_ON_ERROR in client_config:
+            async_create_issue(  # pragma: no cover
+                hass,
+                DOMAIN,
+                "deprecated_close_comm_config",
+                breaks_in_ha_version="2024.4.0",
+                is_fixable=False,
+                severity=IssueSeverity.WARNING,
+                translation_key="deprecated_close_comm_config",
+                translation_placeholders={
+                    "config_key": "close_comm_on_error",
+                    "integration": DOMAIN,
+                    "url": "https://www.home-assistant.io/integrations/modbus",
+                },
+            )
+            _LOGGER.warning(
+                "`close_comm_on_error`: is deprecated and will be remove in version 2024.4"
+            )
         # generic configuration
         self._client: ModbusBaseClient | None = None
         self._async_cancel_listener: Callable[[], None] | None = None
@@ -274,7 +293,6 @@ def __init__(self, hass: HomeAssistant, client_config: dict[str, Any]) -> None:
         self._pb_params = {
             "port": client_config[CONF_PORT],
             "timeout": client_config[CONF_TIMEOUT],
-            "reset_socket": client_config[CONF_CLOSE_COMM_ON_ERROR],
             "retries": client_config[CONF_RETRIES],
             "retry_on_empty": client_config[CONF_RETRY_ON_EMPTY],
         }
diff --git a/homeassistant/components/modbus/strings.json b/homeassistant/components/modbus/strings.json
index 61694074d7920..780757a3eeb8b 100644
--- a/homeassistant/components/modbus/strings.json
+++ b/homeassistant/components/modbus/strings.json
@@ -68,5 +68,11 @@
         }
       }
     }
+  },
+  "issues": {
+    "deprecated_close_comm_config": {
+      "title": "`{config_key}` configuration key is being removed",
+      "description": "Please remove the `{config_key}` key from the {integration} entry in your configuration.yaml file and restart Home Assistant to fix this issue.\n\nCommunication is automatically closed on errors, see [the documentation]({url}) for other error handling parameters."
+    }
   }
 }