diff --git a/doc/release-notes.md b/doc/release-notes.md
index f9e712ed8d0..ebccd4d6fa1 100644
--- a/doc/release-notes.md
+++ b/doc/release-notes.md
@@ -55,6 +55,13 @@ Updated RPCs
   previously deprecated in 23.0. (#23508) Information on soft fork status is
   now only available via the `getdeploymentinfo` RPC.
 
+- The `deprecatedrpc=exclude_coinbase` configuration option has been removed.
+  The `receivedby` RPCs (`listreceivedbyaddress`, `listreceivedbylabel`,
+  `getreceivedbyaddress` and `getreceivedbylabel`) now always return results
+  accounting for received coins from coinbase outputs, without an option to
+  change that behaviour. Excluding coinbases was previously deprecated in 23.0.
+  (#25171)
+
 Changes to wallet related RPCs can be found in the Wallet section below.
 
 New RPCs
diff --git a/src/wallet/rpc/coins.cpp b/src/wallet/rpc/coins.cpp
index 0e7bf34c112..95296b4c9d3 100644
--- a/src/wallet/rpc/coins.cpp
+++ b/src/wallet/rpc/coins.cpp
@@ -49,14 +49,6 @@ static CAmount GetReceived(const CWallet& wallet, const UniValue& params, bool b
 
     const bool include_immature_coinbase{params[2].isNull() ? false : params[2].get_bool()};
 
-    // Excluding coinbase outputs is deprecated
-    // It can be enabled by setting deprecatedrpc=exclude_coinbase
-    const bool include_coinbase{!wallet.chain().rpcEnableDeprecated("exclude_coinbase")};
-
-    if (include_immature_coinbase && !include_coinbase) {
-        throw JSONRPCError(RPC_INVALID_PARAMETER, "include_immature_coinbase is incompatible with deprecated exclude_coinbase");
-    }
-
     // Tally
     CAmount amount = 0;
     for (const std::pair<const uint256, CWalletTx>& wtx_pair : wallet.mapWallet) {
@@ -64,7 +56,7 @@ static CAmount GetReceived(const CWallet& wallet, const UniValue& params, bool b
         int depth{wallet.GetTxDepthInMainChain(wtx)};
         if (depth < min_depth
             // Coinbase with less than 1 confirmation is no longer in the main chain
-            || (wtx.IsCoinBase() && (depth < 1 || !include_coinbase))
+            || (wtx.IsCoinBase() && (depth < 1))
             || (wallet.IsTxImmatureCoinBase(wtx) && !include_immature_coinbase))
         {
             continue;
diff --git a/src/wallet/rpc/transactions.cpp b/src/wallet/rpc/transactions.cpp
index 09dbf16881d..fae9bf3ea5a 100644
--- a/src/wallet/rpc/transactions.cpp
+++ b/src/wallet/rpc/transactions.cpp
@@ -95,14 +95,6 @@ static UniValue ListReceived(const CWallet& wallet, const UniValue& params, cons
         has_filtered_address = true;
     }
 
-    // Excluding coinbase outputs is deprecated
-    // It can be enabled by setting deprecatedrpc=exclude_coinbase
-    const bool include_coinbase{!wallet.chain().rpcEnableDeprecated("exclude_coinbase")};
-
-    if (include_immature_coinbase && !include_coinbase) {
-        throw JSONRPCError(RPC_INVALID_PARAMETER, "include_immature_coinbase is incompatible with deprecated exclude_coinbase");
-    }
-
     // Tally
     std::map<CTxDestination, tallyitem> mapTally;
     for (const std::pair<const uint256, CWalletTx>& pairWtx : wallet.mapWallet) {
@@ -113,7 +105,7 @@ static UniValue ListReceived(const CWallet& wallet, const UniValue& params, cons
             continue;
 
         // Coinbase with less than 1 confirmation is no longer in the main chain
-        if ((wtx.IsCoinBase() && (nDepth < 1 || !include_coinbase))
+        if ((wtx.IsCoinBase() && (nDepth < 1))
             || (wallet.IsTxImmatureCoinBase(wtx) && !include_immature_coinbase))
         {
             continue;
diff --git a/test/functional/wallet_listreceivedby.py b/test/functional/wallet_listreceivedby.py
index a7f4f9ffaf1..c52a127c868 100755
--- a/test/functional/wallet_listreceivedby.py
+++ b/test/functional/wallet_listreceivedby.py
@@ -18,8 +18,6 @@ from test_framework.wallet_util import test_address
 class ReceivedByTest(BitcoinTestFramework):
     def set_test_params(self):
         self.num_nodes = 2
-        # Test deprecated exclude coinbase on second node
-        self.extra_args = [[], ["-deprecatedrpc=exclude_coinbase"]]
 
     def skip_test_if_missing_module(self):
         self.skip_if_no_wallet()
@@ -250,35 +248,6 @@ class ReceivedByTest(BitcoinTestFramework):
                             {"label": label},
                             {}, True)
 
-        # Test exclude_coinbase
-        address2 = self.nodes[1].getnewaddress(label)
-        self.generatetoaddress(self.nodes[1], COINBASE_MATURITY + 1, address2, sync_fun=self.no_op)
-
-        self.log.info("getreceivedbyaddress returns nothing when excluding coinbase")
-        balance = self.nodes[1].getreceivedbyaddress(address2)
-        assert_equal(balance, 0)
-
-        self.log.info("getreceivedbylabel returns nothing when excluding coinbase")
-        balance = self.nodes[1].getreceivedbylabel("label")
-        assert_equal(balance, 0)
-
-        self.log.info("listreceivedbyaddress does not include address when excluding coinbase")
-        assert_array_result(self.nodes[1].listreceivedbyaddress(),
-                            {"address": address2},
-                            {}, True)
-
-        self.log.info("listreceivedbylabel does not include label when excluding coinbase")
-        assert_array_result(self.nodes[1].listreceivedbylabel(),
-                            {"label": label},
-                            {}, True)
-
-        self.log.info("getreceivedbyaddress throws when setting include_immature_coinbase with deprecated exclude_coinbase")
-        assert_raises_rpc_error(-8, 'include_immature_coinbase is incompatible with deprecated exclude_coinbase', self.nodes[1].getreceivedbyaddress, address2, 1, True)
-
-
-        self.log.info("listreceivedbyaddress throws when setting include_immature_coinbase with deprecated exclude_coinbase")
-        assert_raises_rpc_error(-8, 'include_immature_coinbase is incompatible with deprecated exclude_coinbase', self.nodes[1].listreceivedbyaddress, 1, False, False, "", True)
-
 
 if __name__ == '__main__':
     ReceivedByTest().main()