diff --git a/src/Makefile.bench.include b/src/Makefile.bench.include
index 28b779a5a88..217f123b160 100644
--- a/src/Makefile.bench.include
+++ b/src/Makefile.bench.include
@@ -84,6 +84,7 @@ endif
 if ENABLE_WALLET
 bench_bench_bitcoin_SOURCES += bench/coin_selection.cpp
 bench_bench_bitcoin_SOURCES += bench/wallet_balance.cpp
+bench_bench_bitcoin_SOURCES += bench/wallet_create.cpp
 bench_bench_bitcoin_SOURCES += bench/wallet_loading.cpp
 bench_bench_bitcoin_SOURCES += bench/wallet_create_tx.cpp
 bench_bench_bitcoin_LDADD += $(BDB_LIBS) $(SQLITE_LIBS)
diff --git a/src/bench/wallet_create.cpp b/src/bench/wallet_create.cpp
new file mode 100644
index 00000000000..ba3c25d25e8
--- /dev/null
+++ b/src/bench/wallet_create.cpp
@@ -0,0 +1,55 @@
+// Copyright (c) 2023-present The Bitcoin Core developers
+// Distributed under the MIT software license, see the accompanying
+// file COPYING or https://www.opensource.org/licenses/mit-license.php.
+
+#include <bench/bench.h>
+#include <node/context.h>
+#include <random.h>
+#include <test/util/setup_common.h>
+#include <wallet/context.h>
+#include <wallet/wallet.h>
+
+namespace wallet {
+static void WalletCreate(benchmark::Bench& bench, bool encrypted)
+{
+    auto test_setup = MakeNoLogFileContext<TestingSetup>();
+    FastRandomContext random;
+
+    WalletContext context;
+    context.args = &test_setup->m_args;
+    context.chain = test_setup->m_node.chain.get();
+
+    DatabaseOptions options;
+    options.require_format = DatabaseFormat::SQLITE;
+    options.require_create = true;
+    options.create_flags = WALLET_FLAG_DESCRIPTORS;
+
+    if (encrypted) {
+        options.create_passphrase = random.rand256().ToString();
+    }
+
+    DatabaseStatus status;
+    bilingual_str error_string;
+    std::vector<bilingual_str> warnings;
+
+    fs::path wallet_path = test_setup->m_path_root / strprintf("test_wallet_%d", random.rand32()).c_str();
+    bench.run([&] {
+        auto wallet = CreateWallet(context, wallet_path.u8string(), /*load_on_start=*/std::nullopt, options, status, error_string, warnings);
+        assert(status == DatabaseStatus::SUCCESS);
+        assert(wallet != nullptr);
+
+        // Cleanup
+        wallet.reset();
+        fs::remove_all(wallet_path);
+    });
+}
+
+static void WalletCreatePlain(benchmark::Bench& bench) { WalletCreate(bench, /*encrypted=*/false); }
+static void WalletCreateEncrypted(benchmark::Bench& bench) { WalletCreate(bench, /*encrypted=*/true); }
+
+#ifdef USE_SQLITE
+BENCHMARK(WalletCreatePlain, benchmark::PriorityLevel::LOW);
+BENCHMARK(WalletCreateEncrypted, benchmark::PriorityLevel::LOW);
+#endif
+
+} // namespace wallet