diff --git a/.changes/unreleased/Features-20240413-093017.yaml b/.changes/unreleased/Features-20240413-093017.yaml
new file mode 100644
index 00000000000..afbe4cef945
--- /dev/null
+++ b/.changes/unreleased/Features-20240413-093017.yaml
@@ -0,0 +1,6 @@
+kind: Features
+body: Add cli parameter for packages-install-path
+time: 2024-04-13T09:30:17.83824+01:00
+custom:
+  Author: stevenayers
+  Issue: "9932"
diff --git a/core/dbt/cli/params.py b/core/dbt/cli/params.py
index b2716728ce6..67cb4324fb5 100644
--- a/core/dbt/cli/params.py
+++ b/core/dbt/cli/params.py
@@ -614,6 +614,13 @@
     type=click.Path(),
 )
 
+packages_install_path = click.option(
+    "--packages-install-path",
+    envvar="DBT_PACKAGES_INSTALL_PATH",
+    help="Configure the 'packages-install-path'. Only applies this setting for the current run. Overrides the 'DBT_PACKAGES_INSTALL_PATH' if it is set.",
+    type=click.Path(),
+)
+
 upgrade = click.option(
     "--upgrade",
     envvar=None,