diff --git a/main.go b/main.go
index 50f4e0451..6bcffcf5a 100644
--- a/main.go
+++ b/main.go
@@ -299,7 +299,7 @@ func main() {
 	case "noop":
 		r, err = registry.NewNoopRegistry(p)
 	case "txt":
-		r, err = registry.NewTXTRegistry(p, cfg.TXTPrefix, cfg.TXTSuffix, cfg.TXTOwnerID, cfg.TXTCacheInterval)
+		r, err = registry.NewTXTRegistry(p, cfg.TXTPrefix, cfg.TXTSuffix, cfg.TXTOwnerID, cfg.TXTCacheInterval, cfg.TXTWildcardReplacement)
 	case "aws-sd":
 		r, err = registry.NewAWSSDRegistry(p.(*awssd.AWSSDProvider), cfg.TXTOwnerID)
 	default:
diff --git a/pkg/apis/externaldns/types.go b/pkg/apis/externaldns/types.go
index 7d718d670..908fae8a7 100644
--- a/pkg/apis/externaldns/types.go
+++ b/pkg/apis/externaldns/types.go
@@ -119,6 +119,7 @@ type Config struct {
 	MetricsAddress                    string
 	LogLevel                          string
 	TXTCacheInterval                  time.Duration
+	TXTWildcardReplacement            string
 	ExoscaleEndpoint                  string
 	ExoscaleAPIKey                    string `secure:"yes"`
 	ExoscaleAPISecret                 string `secure:"yes"`
@@ -210,6 +211,7 @@ var defaultConfig = &Config{
 	TXTPrefix:                   "",
 	TXTSuffix:                   "",
 	TXTCacheInterval:            0,
+	TXTWildcardReplacement:      "",
 	Interval:                    time.Minute,
 	Once:                        false,
 	DryRun:                      false,
@@ -401,6 +403,7 @@ func (cfg *Config) ParseFlags(args []string) error {
 	app.Flag("txt-owner-id", "When using the TXT registry, a name that identifies this instance of ExternalDNS (default: default)").Default(defaultConfig.TXTOwnerID).StringVar(&cfg.TXTOwnerID)
 	app.Flag("txt-prefix", "When using the TXT registry, a custom string that's prefixed to each ownership DNS record (optional). Mutual exclusive with txt-suffix!").Default(defaultConfig.TXTPrefix).StringVar(&cfg.TXTPrefix)
 	app.Flag("txt-suffix", "When using the TXT registry, a custom string that's suffixed to the host portion of each ownership DNS record (optional). Mutual exclusive with txt-prefix!").Default(defaultConfig.TXTSuffix).StringVar(&cfg.TXTSuffix)
+	app.Flag("txt-wildcard-replacement", "When using the TXT registry, a custom string that's used instead of an asterisk for TXT records corresponding to wildcard DNS records (optional)").Default(defaultConfig.TXTWildcardReplacement).StringVar(&cfg.TXTWildcardReplacement)
 
 	// Flags related to the main control loop
 	app.Flag("txt-cache-interval", "The interval between cache synchronizations in duration format (default: disabled)").Default(defaultConfig.TXTCacheInterval.String()).DurationVar(&cfg.TXTCacheInterval)
diff --git a/registry/txt.go b/registry/txt.go
index b4cb97a79..7bae2dfaa 100644
--- a/registry/txt.go
+++ b/registry/txt.go
@@ -40,10 +40,13 @@ type TXTRegistry struct {
 	recordsCache            []*endpoint.Endpoint
 	recordsCacheRefreshTime time.Time
 	cacheInterval           time.Duration
+
+	// optional string to use to replace the asterisk in wildcard entries
+	wildcardReplacement string
 }
 
 // NewTXTRegistry returns new TXTRegistry object
-func NewTXTRegistry(provider provider.Provider, txtPrefix, txtSuffix, ownerID string, cacheInterval time.Duration) (*TXTRegistry, error) {
+func NewTXTRegistry(provider provider.Provider, txtPrefix, txtSuffix, ownerID string, cacheInterval time.Duration, txtWildcardReplacement string) (*TXTRegistry, error) {
 	if ownerID == "" {
 		return nil, errors.New("owner id cannot be empty")
 	}
@@ -52,13 +55,14 @@ func NewTXTRegistry(provider provider.Provider, txtPrefix, txtSuffix, ownerID st
 		return nil, errors.New("txt-prefix and txt-suffix are mutual exclusive")
 	}
 
-	mapper := newaffixNameMapper(txtPrefix, txtSuffix)
+	mapper := newaffixNameMapper(txtPrefix, txtSuffix, txtWildcardReplacement)
 
 	return &TXTRegistry{
-		provider:      provider,
-		ownerID:       ownerID,
-		mapper:        mapper,
-		cacheInterval: cacheInterval,
+		provider:            provider,
+		ownerID:             ownerID,
+		mapper:              mapper,
+		cacheInterval:       cacheInterval,
+		wildcardReplacement: txtWildcardReplacement,
 	}, nil
 }
 
@@ -107,7 +111,13 @@ func (im *TXTRegistry) Records(ctx context.Context) ([]*endpoint.Endpoint, error
 		if ep.Labels == nil {
 			ep.Labels = endpoint.NewLabels()
 		}
-		key := fmt.Sprintf("%s::%s", ep.DNSName, ep.SetIdentifier)
+		dnsNameSplit := strings.Split(ep.DNSName, ".")
+		// If specified, replace a leading asterisk in the generated txt record name with some other string
+		if im.wildcardReplacement != "" && dnsNameSplit[0] == "*" {
+			dnsNameSplit[0] = im.wildcardReplacement
+		}
+		dnsName := strings.Join(dnsNameSplit, ".")
+		key := fmt.Sprintf("%s::%s", dnsName, ep.SetIdentifier)
 		if labels, ok := labelMap[key]; ok {
 			for k, v := range labels {
 				ep.Labels[k] = v
@@ -211,14 +221,15 @@ type nameMapper interface {
 }
 
 type affixNameMapper struct {
-	prefix string
-	suffix string
+	prefix              string
+	suffix              string
+	wildcardReplacement string
 }
 
 var _ nameMapper = affixNameMapper{}
 
-func newaffixNameMapper(prefix string, suffix string) affixNameMapper {
-	return affixNameMapper{prefix: strings.ToLower(prefix), suffix: strings.ToLower(suffix)}
+func newaffixNameMapper(prefix string, suffix string, wildcardReplacement string) affixNameMapper {
+	return affixNameMapper{prefix: strings.ToLower(prefix), suffix: strings.ToLower(suffix), wildcardReplacement: wildcardReplacement}
 }
 
 func (pr affixNameMapper) toEndpointName(txtDNSName string) string {
@@ -238,6 +249,10 @@ func (pr affixNameMapper) toEndpointName(txtDNSName string) string {
 
 func (pr affixNameMapper) toTXTName(endpointDNSName string) string {
 	DNSName := strings.SplitN(endpointDNSName, ".", 2)
+	// If specified, replace a leading asterisk in the generated txt record name with some other string
+	if pr.wildcardReplacement != "" && DNSName[0] == "*" {
+		DNSName[0] = pr.wildcardReplacement
+	}
 	return pr.prefix + DNSName[0] + pr.suffix + "." + DNSName[1]
 }
 
diff --git a/registry/txt_test.go b/registry/txt_test.go
index 5157dd560..d23e728c0 100644
--- a/registry/txt_test.go
+++ b/registry/txt_test.go
@@ -44,20 +44,20 @@ func TestTXTRegistry(t *testing.T) {
 
 func testTXTRegistryNew(t *testing.T) {
 	p := inmemory.NewInMemoryProvider()
-	_, err := NewTXTRegistry(p, "txt", "", "", time.Hour)
+	_, err := NewTXTRegistry(p, "txt", "", "", time.Hour, "")
 	require.Error(t, err)
 
-	_, err = NewTXTRegistry(p, "", "txt", "", time.Hour)
+	_, err = NewTXTRegistry(p, "", "txt", "", time.Hour, "")
 	require.Error(t, err)
 
-	r, err := NewTXTRegistry(p, "txt", "", "owner", time.Hour)
+	r, err := NewTXTRegistry(p, "txt", "", "owner", time.Hour, "")
 	require.NoError(t, err)
 	assert.Equal(t, p, r.provider)
 
-	r, err = NewTXTRegistry(p, "", "txt", "owner", time.Hour)
+	r, err = NewTXTRegistry(p, "", "txt", "owner", time.Hour, "")
 	require.NoError(t, err)
 
-	_, err = NewTXTRegistry(p, "txt", "txt", "owner", time.Hour)
+	_, err = NewTXTRegistry(p, "txt", "txt", "owner", time.Hour, "")
 	require.Error(t, err)
 
 	_, ok := r.mapper.(affixNameMapper)
@@ -65,7 +65,7 @@ func testTXTRegistryNew(t *testing.T) {
 	assert.Equal(t, "owner", r.ownerID)
 	assert.Equal(t, p, r.provider)
 
-	r, err = NewTXTRegistry(p, "", "", "owner", time.Hour)
+	r, err = NewTXTRegistry(p, "", "", "owner", time.Hour, "")
 	require.NoError(t, err)
 
 	_, ok = r.mapper.(affixNameMapper)
@@ -97,6 +97,8 @@ func testTXTRegistryRecordsPrefixed(t *testing.T) {
 			newEndpointWithOwner("multiple.test-zone.example.org", "\"heritage=external-dns,external-dns/owner=owner\"", endpoint.RecordTypeTXT, "").WithSetIdentifier("test-set-1"),
 			newEndpointWithOwner("multiple.test-zone.example.org", "lb2.loadbalancer.com", endpoint.RecordTypeCNAME, "").WithSetIdentifier("test-set-2"),
 			newEndpointWithOwner("multiple.test-zone.example.org", "\"heritage=external-dns,external-dns/owner=owner\"", endpoint.RecordTypeTXT, "").WithSetIdentifier("test-set-2"),
+			newEndpointWithOwner("*.wildcard.test-zone.example.org", "foo.loadbalancer.com", endpoint.RecordTypeCNAME, ""),
+			newEndpointWithOwner("txt.wc.wildcard.test-zone.example.org", "\"heritage=external-dns,external-dns/owner=owner\"", endpoint.RecordTypeTXT, ""),
 		},
 	})
 	expectedRecords := []*endpoint.Endpoint{
@@ -169,15 +171,23 @@ func testTXTRegistryRecordsPrefixed(t *testing.T) {
 				endpoint.OwnerLabelKey: "",
 			},
 		},
+		{
+			DNSName:       "*.wildcard.test-zone.example.org",
+			Targets:       endpoint.Targets{"foo.loadbalancer.com"},
+			RecordType:    endpoint.RecordTypeCNAME,
+			Labels: map[string]string{
+				endpoint.OwnerLabelKey: "owner",
+			},
+		},
 	}
 
-	r, _ := NewTXTRegistry(p, "txt.", "", "owner", time.Hour)
+	r, _ := NewTXTRegistry(p, "txt.", "", "owner", time.Hour, "wc")
 	records, _ := r.Records(ctx)
 
 	assert.True(t, testutils.SameEndpoints(records, expectedRecords))
 
 	// Ensure prefix is case-insensitive
-	r, _ = NewTXTRegistry(p, "TxT.", "", "owner", time.Hour)
+	r, _ = NewTXTRegistry(p, "TxT.", "", "owner", time.Hour, "")
 	records, _ = r.Records(ctx)
 
 	assert.True(t, testutils.SameEndpointLabels(records, expectedRecords))
@@ -276,13 +286,13 @@ func testTXTRegistryRecordsSuffixed(t *testing.T) {
 		},
 	}
 
-	r, _ := NewTXTRegistry(p, "", "-txt", "owner", time.Hour)
+	r, _ := NewTXTRegistry(p, "", "-txt", "owner", time.Hour, "")
 	records, _ := r.Records(ctx)
 
 	assert.True(t, testutils.SameEndpoints(records, expectedRecords))
 
 	// Ensure prefix is case-insensitive
-	r, _ = NewTXTRegistry(p, "", "-TxT", "owner", time.Hour)
+	r, _ = NewTXTRegistry(p, "", "-TxT", "owner", time.Hour, "")
 	records, _ = r.Records(ctx)
 
 	assert.True(t, testutils.SameEndpointLabels(records, expectedRecords))
@@ -357,7 +367,7 @@ func testTXTRegistryRecordsNoPrefix(t *testing.T) {
 		},
 	}
 
-	r, _ := NewTXTRegistry(p, "", "", "owner", time.Hour)
+	r, _ := NewTXTRegistry(p, "", "", "owner", time.Hour, "")
 	records, _ := r.Records(ctx)
 
 	assert.True(t, testutils.SameEndpoints(records, expectedRecords))
@@ -394,7 +404,7 @@ func testTXTRegistryApplyChangesWithPrefix(t *testing.T) {
 			newEndpointWithOwner("txt.multiple.test-zone.example.org", "\"heritage=external-dns,external-dns/owner=owner\"", endpoint.RecordTypeTXT, "").WithSetIdentifier("test-set-2"),
 		},
 	})
-	r, _ := NewTXTRegistry(p, "txt.", "", "owner", time.Hour)
+	r, _ := NewTXTRegistry(p, "txt.", "", "owner", time.Hour, "")
 
 	changes := &plan.Changes{
 		Create: []*endpoint.Endpoint{
@@ -485,12 +495,13 @@ func testTXTRegistryApplyChangesWithSuffix(t *testing.T) {
 			newEndpointWithOwner("multiple-txt.test-zone.example.org", "\"heritage=external-dns,external-dns/owner=owner\"", endpoint.RecordTypeTXT, "").WithSetIdentifier("test-set-2"),
 		},
 	})
-	r, _ := NewTXTRegistry(p, "", "-txt", "owner", time.Hour)
+	r, _ := NewTXTRegistry(p, "", "-txt", "owner", time.Hour, "wildcard")
 
 	changes := &plan.Changes{
 		Create: []*endpoint.Endpoint{
 			newEndpointWithOwnerResource("new-record-1.test-zone.example.org", "new-loadbalancer-1.lb.com", "", "", "ingress/default/my-ingress"),
 			newEndpointWithOwnerResource("multiple.test-zone.example.org", "lb3.loadbalancer.com", "", "", "ingress/default/my-ingress").WithSetIdentifier("test-set-3"),
+			newEndpointWithOwnerResource("*.wildcard.test-zone.example.org", "new-loadbalancer-1.lb.com", "", "", "ingress/default/my-ingress"),
 		},
 		Delete: []*endpoint.Endpoint{
 			newEndpointWithOwner("foobar.test-zone.example.org", "foobar.loadbalancer.com", endpoint.RecordTypeCNAME, "owner"),
@@ -511,6 +522,8 @@ func testTXTRegistryApplyChangesWithSuffix(t *testing.T) {
 			newEndpointWithOwner("new-record-1-txt.test-zone.example.org", "\"heritage=external-dns,external-dns/owner=owner,external-dns/resource=ingress/default/my-ingress\"", endpoint.RecordTypeTXT, ""),
 			newEndpointWithOwnerResource("multiple.test-zone.example.org", "lb3.loadbalancer.com", "", "owner", "ingress/default/my-ingress").WithSetIdentifier("test-set-3"),
 			newEndpointWithOwner("multiple-txt.test-zone.example.org", "\"heritage=external-dns,external-dns/owner=owner,external-dns/resource=ingress/default/my-ingress\"", endpoint.RecordTypeTXT, "").WithSetIdentifier("test-set-3"),
+			newEndpointWithOwnerResource("*.wildcard.test-zone.example.org", "new-loadbalancer-1.lb.com", "", "owner", "ingress/default/my-ingress"),
+			newEndpointWithOwner("wildcard-txt.wildcard.test-zone.example.org", "\"heritage=external-dns,external-dns/owner=owner,external-dns/resource=ingress/default/my-ingress\"", endpoint.RecordTypeTXT, ""),
 		},
 		Delete: []*endpoint.Endpoint{
 			newEndpointWithOwner("foobar.test-zone.example.org", "foobar.loadbalancer.com", endpoint.RecordTypeCNAME, "owner"),
@@ -572,7 +585,7 @@ func testTXTRegistryApplyChangesNoPrefix(t *testing.T) {
 			newEndpointWithOwner("foobar.test-zone.example.org", "\"heritage=external-dns,external-dns/owner=owner\"", endpoint.RecordTypeTXT, ""),
 		},
 	})
-	r, _ := NewTXTRegistry(p, "", "", "owner", time.Hour)
+	r, _ := NewTXTRegistry(p, "", "", "owner", time.Hour, "")
 
 	changes := &plan.Changes{
 		Create: []*endpoint.Endpoint{