diff --git a/InvenTree/common/models.py b/InvenTree/common/models.py
index 33800e2387..8e7e61303e 100644
--- a/InvenTree/common/models.py
+++ b/InvenTree/common/models.py
@@ -1228,6 +1228,13 @@ class InvenTreeSetting(BaseInvenTreeSetting):
             'validator': bool,
         },
 
+        'STOCK_DELETE_DEPLETED_DEFAULT': {
+            'name': _('Delete Depleted Stock'),
+            'description': _('Determines default behaviour when a stock item is depleted'),
+            'default': True,
+            'validator': bool,
+        },
+
         'STOCK_BATCH_CODE_TEMPLATE': {
             'name': _('Batch Code Template'),
             'description': _('Template for generating default batch codes for stock items'),
diff --git a/InvenTree/stock/migrations/0091_alter_stockitem_delete_on_deplete.py b/InvenTree/stock/migrations/0091_alter_stockitem_delete_on_deplete.py
new file mode 100644
index 0000000000..18ea2c0cd7
--- /dev/null
+++ b/InvenTree/stock/migrations/0091_alter_stockitem_delete_on_deplete.py
@@ -0,0 +1,19 @@
+# Generated by Django 3.2.16 on 2022-12-24 12:29
+
+from django.db import migrations, models
+import stock.models
+
+
+class Migration(migrations.Migration):
+
+    dependencies = [
+        ('stock', '0090_stocklocation_structural'),
+    ]
+
+    operations = [
+        migrations.AlterField(
+            model_name='stockitem',
+            name='delete_on_deplete',
+            field=models.BooleanField(default=stock.models.default_delete_on_deplete, help_text='Delete this Stock Item when stock is depleted', verbose_name='Delete on deplete'),
+        ),
+    ]
diff --git a/InvenTree/stock/models.py b/InvenTree/stock/models.py
index a4a9124a2a..00f20cf93c 100644
--- a/InvenTree/stock/models.py
+++ b/InvenTree/stock/models.py
@@ -13,6 +13,7 @@ from django.db import models, transaction
 from django.db.models import Q, Sum
 from django.db.models.functions import Coalesce
 from django.db.models.signals import post_delete, post_save, pre_delete
+from django.db.utils import IntegrityError, OperationalError
 from django.dispatch import receiver
 from django.urls import reverse
 from django.utils.translation import gettext_lazy as _
@@ -251,6 +252,20 @@ def generate_batch_code():
     return Template(batch_template).render(context)
 
 
+def default_delete_on_deplete():
+    """Return a default value for the 'delete_on_deplete' field.
+
+    Prior to 2022-12-24, this field was set to True by default.
+    Now, there is a user-configurable setting to govern default behaviour.
+    """
+
+    try:
+        return common.models.InvenTreeSetting.get_setting('STOCK_DELETE_DEPLETED_DEFAULT', True)
+    except (IntegrityError, OperationalError):
+        # Revert to original default behaviour
+        return True
+
+
 class StockItem(InvenTreeBarcodeMixin, MetadataMixin, MPTTModel):
     """A StockItem object represents a quantity of physical instances of a part.
 
@@ -760,7 +775,10 @@ class StockItem(InvenTreeBarcodeMixin, MetadataMixin, MPTTModel):
 
     review_needed = models.BooleanField(default=False)
 
-    delete_on_deplete = models.BooleanField(default=True, verbose_name=_('Delete on deplete'), help_text=_('Delete this Stock Item when stock is depleted'))
+    delete_on_deplete = models.BooleanField(
+        default=default_delete_on_deplete,
+        verbose_name=_('Delete on deplete'), help_text=_('Delete this Stock Item when stock is depleted')
+    )
 
     status = models.PositiveIntegerField(
         default=StockStatus.OK,
diff --git a/InvenTree/templates/InvenTree/settings/stock.html b/InvenTree/templates/InvenTree/settings/stock.html
index f45bf16e3c..149fdd8e2f 100644
--- a/InvenTree/templates/InvenTree/settings/stock.html
+++ b/InvenTree/templates/InvenTree/settings/stock.html
@@ -13,6 +13,7 @@
     <tbody>
         {% include "InvenTree/settings/setting.html" with key="SERIAL_NUMBER_GLOBALLY_UNIQUE" icon="fa-hashtag" %}
         {% include "InvenTree/settings/setting.html" with key="SERIAL_NUMBER_AUTOFILL" icon="fa-magic" %}
+        {% include "InvenTree/settings/setting.html" with key="STOCK_DELETE_DEPLETED_DEFAULT" icon="fa-trash-alt" %}
         {% include "InvenTree/settings/setting.html" with key="STOCK_BATCH_CODE_TEMPLATE" icon="fa-layer-group" %}
         {% include "InvenTree/settings/setting.html" with key="STOCK_ENABLE_EXPIRY" icon="fa-stopwatch" %}
         {% include "InvenTree/settings/setting.html" with key="STOCK_STALE_DAYS" icon="fa-calendar" %}