diff --git a/src/wp-includes/default-filters.php b/src/wp-includes/default-filters.php
index 12ca0045b98b4..d16979c9c8fb5 100644
--- a/src/wp-includes/default-filters.php
+++ b/src/wp-includes/default-filters.php
@@ -545,6 +545,7 @@
 add_action( 'init', 'rest_api_init' );
 add_action( 'rest_api_init', 'rest_api_default_filters', 10, 1 );
 add_action( 'rest_api_init', 'register_initial_settings', 10 );
+add_filter( 'rest_pre_update_setting', 'rest_restrict_privacy_policy_page_setting_update', 10, 2 );
 add_action( 'rest_api_init', 'create_initial_rest_routes', 99 );
 add_action( 'parse_request', 'rest_api_loaded' );
 
diff --git a/src/wp-includes/option.php b/src/wp-includes/option.php
index fb808b7ee4df1..edef0894bc650 100644
--- a/src/wp-includes/option.php
+++ b/src/wp-includes/option.php
@@ -2739,6 +2739,7 @@ function set_site_transient( $transient, $value, $expiration = 0 ) {
  *
  * @since 4.7.0
  * @since 6.0.1 The `show_on_front`, `page_on_front`, and `page_for_posts` options were added.
+ * @since 7.2.0 The `wp_page_for_privacy_policy` option was registered, exposed as `page_for_privacy_policy`.
  */
 function register_initial_settings() {
 	register_setting(
@@ -2931,6 +2932,18 @@ function register_initial_settings() {
 		)
 	);
 
+	register_setting(
+		'reading',
+		'wp_page_for_privacy_policy',
+		array(
+			'show_in_rest' => array(
+				'name' => 'page_for_privacy_policy',
+			),
+			'type'         => 'integer',
+			'description'  => __( 'The ID of the page that should be displayed as the privacy policy page' ),
+		)
+	);
+
 	register_setting(
 		'discussion',
 		'default_ping_status',
diff --git a/src/wp-includes/rest-api.php b/src/wp-includes/rest-api.php
index 892716b5d69e0..4f3e0a1348e06 100644
--- a/src/wp-includes/rest-api.php
+++ b/src/wp-includes/rest-api.php
@@ -3447,6 +3447,27 @@ function rest_get_endpoint_args_for_schema( $schema, $method = WP_REST_Server::C
 	return $endpoint_args;
 }
 
+/**
+ * Prevents users without the `manage_privacy_options` capability from
+ * changing the privacy policy page through the REST API.
+ *
+ * The settings endpoint only checks `manage_options`. On multisite the
+ * `manage_privacy_options` capability maps to `manage_network`, so a site
+ * administrator can read the setting but must not change it, matching the
+ * Settings > Privacy screen.
+ *
+ * @since 7.2.0
+ *
+ * @param bool   $updated Whether the setting update has already been handled.
+ * @param string $name    Setting name (as shown in REST API responses).
+ * @return bool Whether to short-circuit the update.
+ */
+function rest_restrict_privacy_policy_page_setting_update( $updated, $name ) {
+	if ( 'page_for_privacy_policy' === $name && ! current_user_can( 'manage_privacy_options' ) ) {
+		return true;
+	}
+	return $updated;
+}
 
 /**
  * Converts an error to a response object.
diff --git a/tests/phpunit/tests/rest-api/rest-settings-controller.php b/tests/phpunit/tests/rest-api/rest-settings-controller.php
index 981ca3dc684b6..3662e680863e0 100644
--- a/tests/phpunit/tests/rest-api/rest-settings-controller.php
+++ b/tests/phpunit/tests/rest-api/rest-settings-controller.php
@@ -57,9 +57,26 @@ public function tear_down() {
 			}
 		}
 
+		remove_filter( 'map_meta_cap', array( $this, 'deny_manage_privacy_options' ), 10 );
+
 		parent::tear_down();
 	}
 
+	/**
+	 * Maps `manage_privacy_options` to `do_not_allow`, as happens for a site
+	 * administrator on multisite.
+	 *
+	 * @param string[] $caps Primitive capabilities required.
+	 * @param string   $cap  Capability being checked.
+	 * @return string[] Primitive capabilities required.
+	 */
+	public function deny_manage_privacy_options( $caps, $cap ) {
+		if ( 'manage_privacy_options' === $cap ) {
+			return array( 'do_not_allow' );
+		}
+		return $caps;
+	}
+
 	public function test_register_routes() {
 		$routes = rest_get_server()->get_routes();
 		$this->assertArrayHasKey( '/wp/v2/settings', $routes );
@@ -116,6 +133,7 @@ public function test_get_items() {
 			'show_on_front',
 			'page_on_front',
 			'page_for_posts',
+			'page_for_privacy_policy',
 			'default_ping_status',
 			'default_comment_status',
 			'site_icon', // Registered in wp-includes/blocks/site-logo.php
@@ -403,6 +421,37 @@ public function test_update_item() {
 		$this->assertSame( get_option( 'blogname' ), $data['title'] );
 	}
 
+	public function test_update_item_privacy_policy_page() {
+		wp_set_current_user( self::$administrator );
+		$page_id = self::factory()->post->create( array( 'post_type' => 'page' ) );
+
+		$request = new WP_REST_Request( 'PUT', '/wp/v2/settings' );
+		$request->set_param( 'page_for_privacy_policy', $page_id );
+		$response = rest_get_server()->dispatch( $request );
+		$data     = $response->get_data();
+
+		$this->assertSame( 200, $response->get_status() );
+		$this->assertSame( $page_id, $data['page_for_privacy_policy'] );
+		$this->assertSame( $page_id, (int) get_option( 'wp_page_for_privacy_policy' ) );
+	}
+
+	public function test_update_item_privacy_policy_page_without_capability() {
+		wp_set_current_user( self::$administrator );
+		$page_id = self::factory()->post->create( array( 'post_type' => 'page' ) );
+		update_option( 'wp_page_for_privacy_policy', $page_id );
+		$other_page_id = self::factory()->post->create( array( 'post_type' => 'page' ) );
+		add_filter( 'map_meta_cap', array( $this, 'deny_manage_privacy_options' ), 10, 2 );
+
+		$request = new WP_REST_Request( 'PUT', '/wp/v2/settings' );
+		$request->set_param( 'page_for_privacy_policy', $other_page_id );
+		$response = rest_get_server()->dispatch( $request );
+		$data     = $response->get_data();
+
+		$this->assertSame( 200, $response->get_status() );
+		$this->assertSame( $page_id, $data['page_for_privacy_policy'], 'The response should still report the previous page.' );
+		$this->assertSame( $page_id, (int) get_option( 'wp_page_for_privacy_policy' ), 'The option should not change.' );
+	}
+
 	public function update_setting_custom_callback( $result, $name, $value, $args ) {
 		if ( 'title' === $name && 'The new title!' === $value ) {
 			// Do not allow changing the title in this case.
diff --git a/tests/qunit/fixtures/wp-api-generated.js b/tests/qunit/fixtures/wp-api-generated.js
index 4a2d5a3ac7ea8..5d209f1c79820 100644
--- a/tests/qunit/fixtures/wp-api-generated.js
+++ b/tests/qunit/fixtures/wp-api-generated.js
@@ -11237,6 +11237,12 @@ mockedApiResponse.Schema = {
                             "type": "integer",
                             "required": false
                         },
+                        "page_for_privacy_policy": {
+                            "title": "",
+                            "description": "The ID of the page that should be displayed as the privacy policy page",
+                            "type": "integer",
+                            "required": false
+                        },
                         "default_ping_status": {
                             "title": "",
                             "description": "Allow link notifications from other blogs (pingbacks and trackbacks) on new articles.",
@@ -14932,6 +14938,7 @@ mockedApiResponse.settings = {
     "show_on_front": "posts",
     "page_on_front": 0,
     "page_for_posts": 0,
+    "page_for_privacy_policy": 0,
     "default_ping_status": "open",
     "default_comment_status": "open",
     "site_logo": null,