diff --git a/.changelog/47424.txt b/.changelog/47424.txt
new file mode 100644
index 000000000000..94ec67fbdaec
--- /dev/null
+++ b/.changelog/47424.txt
@@ -0,0 +1,3 @@
+```release-note:bug
+resource/aws_iam_service_specific_credential: Fix `service_password` always being empty in state after resource creation
+```
diff --git a/internal/service/iam/service_specific_credential.go b/internal/service/iam/service_specific_credential.go
index eb2dc13bb4f7..13e85d06cbf1 100644
--- a/internal/service/iam/service_specific_credential.go
+++ b/internal/service/iam/service_specific_credential.go
@@ -175,6 +175,7 @@ func resourceServiceSpecificCredentialRead(ctx context.Context, d *schema.Resour
 	d.Set("service_user_name", cred.ServiceUserName)
 	d.Set(names.AttrStatus, cred.Status)
 	d.Set(names.AttrUserName, cred.UserName)
+	d.Set("service_password", d.Get("service_password"))
 
 	return diags
 }
diff --git a/internal/service/iam/service_specific_credential_test.go b/internal/service/iam/service_specific_credential_test.go
index 6b3c92b7b707..9602cf9dd261 100644
--- a/internal/service/iam/service_specific_credential_test.go
+++ b/internal/service/iam/service_specific_credential_test.go
@@ -39,6 +39,7 @@ func TestAccIAMServiceSpecificCredential_basic(t *testing.T) {
 					resource.TestCheckResourceAttr(resourceName, names.AttrStatus, "Active"),
 					resource.TestCheckResourceAttrSet(resourceName, "service_user_name"),
 					resource.TestCheckResourceAttrSet(resourceName, "service_specific_credential_id"),
+					resource.TestCheckResourceAttrSet(resourceName, "service_password"),
 				),
 			},
 			{