diff --git a/packages/keyring-controller/CHANGELOG.md b/packages/keyring-controller/CHANGELOG.md
index 9bb57e1f03..2ede2fe3b0 100644
--- a/packages/keyring-controller/CHANGELOG.md
+++ b/packages/keyring-controller/CHANGELOG.md
@@ -7,6 +7,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+### Added
+
+- Allow `exportSeedPhrase` to accept `{ encryptionKey }` credentials ([#8996](https://github.com/MetaMask/core/pull/8996))
+
 ### Fixed
 
 - Automatically remove and destroy non-primary keyrings whose last account is removed during a `withKeyring` or `withKeyringV2` callback ([#8951](https://github.com/MetaMask/core/pull/8951))
diff --git a/packages/keyring-controller/src/KeyringController-method-action-types.ts b/packages/keyring-controller/src/KeyringController-method-action-types.ts
index 1abd9cf97e..cbd56d701d 100644
--- a/packages/keyring-controller/src/KeyringController-method-action-types.ts
+++ b/packages/keyring-controller/src/KeyringController-method-action-types.ts
@@ -82,7 +82,12 @@ export type KeyringControllerIsUnlockedAction = {
 /**
  * Gets the seed phrase of the HD keyring.
  *
- * @param password - Password of the keyring.
+ * The keyring can be re-authenticated with the wallet password (passed either
+ * as a bare string or as `{ password }`) or with the vault `{ encryptionKey }`.
+ * The bare-string form is kept for backwards compatibility.
+ *
+ * @param credentials - The wallet password, or an object holding either the
+ * `password` or the vault `encryptionKey`.
  * @param keyringId - The id of the keyring.
  * @returns Promise resolving to the seed phrase.
  */
diff --git a/packages/keyring-controller/src/KeyringController.test.ts b/packages/keyring-controller/src/KeyringController.test.ts
index 0924cb581d..e66da72c69 100644
--- a/packages/keyring-controller/src/KeyringController.test.ts
+++ b/packages/keyring-controller/src/KeyringController.test.ts
@@ -891,6 +891,13 @@ describe('KeyringController', () => {
           });
         });
 
+        it('should export seed phrase with a password credential object', async () => {
+          await withController(async ({ controller }) => {
+            const seed = await controller.exportSeedPhrase({ password });
+            expect(seed).not.toBe('');
+          });
+        });
+
         it('should throw error if keyringId is invalid', async () => {
           await withController(async ({ controller }) => {
             await expect(
@@ -926,6 +933,42 @@ describe('KeyringController', () => {
           );
         });
       });
+
+      describe('when correct encryption key is provided', () => {
+        it('should export seed phrase with an encryption key credential', async () => {
+          await withController(async ({ controller }) => {
+            const encryptionKey = await controller.exportEncryptionKey();
+            const seed = await controller.exportSeedPhrase({ encryptionKey });
+            expect(seed).not.toBe('');
+          });
+        });
+
+        it('should export seed phrase with an encryption key and a valid keyringId', async () => {
+          await withController(async ({ controller, initialState }) => {
+            const keyringId = initialState.keyrings[0].metadata.id;
+            const encryptionKey = await controller.exportEncryptionKey();
+            const seed = await controller.exportSeedPhrase(
+              { encryptionKey },
+              keyringId,
+            );
+            expect(seed).not.toBe('');
+          });
+        });
+      });
+
+      describe('when wrong encryption key is provided', () => {
+        it('should throw the decryption error', async () => {
+          await withController(async ({ controller, encryptor }) => {
+            const encryptionKey = await controller.exportEncryptionKey();
+            jest
+              .spyOn(encryptor, 'decryptWithKey')
+              .mockRejectedValueOnce(new Error('Invalid key'));
+            await expect(
+              controller.exportSeedPhrase({ encryptionKey }),
+            ).rejects.toThrow('Invalid key');
+          });
+        });
+      });
     });
 
     it('should throw error when the controller is locked', async () => {
@@ -3616,6 +3659,44 @@ describe('KeyringController', () => {
     });
   });
 
+  describe('verifyEncryptionKey', () => {
+    describe('when correct encryption key is provided', () => {
+      it('should not throw any error', async () => {
+        await withController(async ({ controller }) => {
+          const encryptionKey = await controller.exportEncryptionKey();
+          expect(
+            await controller.verifyEncryptionKey(encryptionKey),
+          ).toBeUndefined();
+        });
+      });
+
+      it('should throw error if vault is missing', async () => {
+        await withController(
+          { skipVaultCreation: true },
+          async ({ controller }) => {
+            await expect(
+              controller.verifyEncryptionKey('encryption-key'),
+            ).rejects.toThrow(KeyringControllerErrorMessage.VaultError);
+          },
+        );
+      });
+    });
+
+    describe('when wrong encryption key is provided', () => {
+      it('should throw the decryption error', async () => {
+        await withController(async ({ controller, encryptor }) => {
+          const encryptionKey = await controller.exportEncryptionKey();
+          jest
+            .spyOn(encryptor, 'decryptWithKey')
+            .mockRejectedValueOnce(new Error('Decryption failed'));
+          await expect(
+            controller.verifyEncryptionKey(encryptionKey),
+          ).rejects.toThrow('Decryption failed');
+        });
+      });
+    });
+  });
+
   describe('withKeyring', () => {
     it('should rollback if an error is thrown', async () => {
       await withController(async ({ controller, initialState }) => {
diff --git a/packages/keyring-controller/src/KeyringController.ts b/packages/keyring-controller/src/KeyringController.ts
index 35603b8395..96283faa94 100644
--- a/packages/keyring-controller/src/KeyringController.ts
+++ b/packages/keyring-controller/src/KeyringController.ts
@@ -1045,6 +1045,23 @@ export class KeyringController<
     await this.#encryptor.decrypt(password, this.state.vault);
   }
 
+  /**
+   * Method to verify a given encryption key validity. Throws an error if the
+   * encryption key is invalid, i.e. it cannot decrypt the vault.
+   *
+   * @param encryptionKey - Serialized vault encryption key.
+   */
+  async verifyEncryptionKey(encryptionKey: string): Promise<void> {
+    if (!this.state.vault) {
+      throw new KeyringControllerError(
+        KeyringControllerErrorMessage.VaultError,
+      );
+    }
+
+    const key = await this.#encryptor.importKey(encryptionKey);
+    await this.#encryptor.decryptWithKey(key, JSON.parse(this.state.vault));
+  }
+
   /**
    * Returns the status of the vault.
    *
@@ -1057,16 +1074,29 @@ export class KeyringController<
   /**
    * Gets the seed phrase of the HD keyring.
    *
-   * @param password - Password of the keyring.
+   * The keyring can be re-authenticated with the wallet password (passed either
+   * as a bare string or as `{ password }`) or with the vault `{ encryptionKey }`.
+   * The bare-string form is kept for backwards compatibility.
+   *
+   * @param credentials - The wallet password, or an object holding either the
+   * `password` or the vault `encryptionKey`.
    * @param keyringId - The id of the keyring.
    * @returns Promise resolving to the seed phrase.
    */
   async exportSeedPhrase(
-    password: string,
+    credentials: string | { password: string } | { encryptionKey: string },
     keyringId?: string,
   ): Promise<Uint8Array> {
     this.#assertIsUnlocked();
-    await this.verifyPassword(password);
+
+    if (typeof credentials === 'string') {
+      await this.verifyPassword(credentials);
+    } else if (hasProperty(credentials, 'password')) {
+      await this.verifyPassword(credentials.password as string);
+    } else {
+      await this.verifyEncryptionKey(credentials.encryptionKey);
+    }
+
     const selectedKeyring = this.#getKeyringByIdOrDefault(keyringId);
     if (!selectedKeyring) {
       throw new KeyringControllerError('Keyring not found');