diff --git a/Cargo.toml b/Cargo.toml
index 8df5441088fbb..91b2d21e63608 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -11,6 +11,7 @@ publish = false
 default-run = "vector"
 autobenches = false # our benchmarks are not runnable on their own either way
 # Minimum supported rust version
+# See docs/DEVELOPING.md for policy
 rust-version = "1.71.1"
 
 [[bin]]
diff --git a/docs/DEVELOPING.md b/docs/DEVELOPING.md
index dca85c077b338..6dfe1aabb7fc9 100644
--- a/docs/DEVELOPING.md
+++ b/docs/DEVELOPING.md
@@ -11,6 +11,7 @@
     - [Panics](#panics)
   - [Feature flags](#feature-flags)
   - [Dependencies](#dependencies)
+  - [Minimum Supported Rust Version](#minimum-supported-rust-version)
 - [Guidelines](#guidelines)
   - [Sink healthchecks](#sink-healthchecks)
 - [Testing](#testing)
@@ -263,6 +264,14 @@ If a dependency is required only by one or multiple components, but not by
 Vector's core, make it optional and add it to the list of dependencies of
 the features corresponding to these components in `Cargo.toml`.
 
+### Minimum Supported Rust Version
+
+Vector's Minimum Supported Rust Version (MSRV) is indicated by the `rust-version` specified in
+`Cargo.toml`.
+
+Currently, Vector has no policy around MSRV. It can be bumped at any time if required by
+a dependency or to take advantage of a new language feature in Vector's codebase.
+
 ## Guidelines
 
 ### Sink healthchecks