diff --git a/doc/source/command-objects/network.rst b/doc/source/command-objects/network.rst
index 622568e4e..6d3f505ab 100644
--- a/doc/source/command-objects/network.rst
+++ b/doc/source/command-objects/network.rst
@@ -171,6 +171,7 @@ Set network properties
         [--name <name>]
         [--enable | --disable]
         [--share | --no-share]
+        [--external [--default | --no-default] | --internal]
         <network>
 
 .. option:: --name <name>
@@ -193,6 +194,24 @@ Set network properties
 
     Do not share the network between projects
 
+.. option:: --external
+
+    Set this network as an external network.
+    Requires the "external-net" extension to be enabled.
+
+.. option:: --internal
+
+    Set this network as an internal network
+
+.. option:: --default
+
+    Specify if this network should be used as
+    the default external network
+
+.. option:: --no-default
+
+    Do not use the network as the default external network.
+
 .. _network_set-network:
 .. describe:: <network>
 
diff --git a/openstackclient/network/v2/network.py b/openstackclient/network/v2/network.py
index 20d943ed6..afac471a7 100644
--- a/openstackclient/network/v2/network.py
+++ b/openstackclient/network/v2/network.py
@@ -76,6 +76,16 @@ def _get_attrs(client_manager, parsed_args):
        parsed_args.availability_zone_hints is not None:
         attrs['availability_zone_hints'] = parsed_args.availability_zone_hints
 
+    # update_external_network_options
+    if parsed_args.internal:
+        attrs['router:external'] = False
+    if parsed_args.external:
+        attrs['router:external'] = True
+        if parsed_args.no_default:
+            attrs['is_default'] = False
+        if parsed_args.default:
+            attrs['is_default'] = True
+
     return attrs
 
 
@@ -197,14 +207,6 @@ class CreateNetwork(common.NetworkAndComputeShowOne):
 
     def take_action_network(self, client, parsed_args):
         attrs = _get_attrs(self.app.client_manager, parsed_args)
-        if parsed_args.internal:
-            attrs['router:external'] = False
-        if parsed_args.external:
-            attrs['router:external'] = True
-            if parsed_args.no_default:
-                attrs['is_default'] = False
-            if parsed_args.default:
-                attrs['is_default'] = True
         if parsed_args.provider_network_type:
             attrs['provider:network_type'] = parsed_args.provider_network_type
         if parsed_args.physical_network:
@@ -379,6 +381,26 @@ class SetNetwork(command.Command):
             action='store_true',
             help='Do not share the network between projects',
         )
+        external_router_grp = parser.add_mutually_exclusive_group()
+        external_router_grp.add_argument(
+            '--external',
+            action='store_true',
+            help='Set this network as an external network. '
+                 'Requires the "external-net" extension to be enabled.')
+        external_router_grp.add_argument(
+            '--internal',
+            action='store_true',
+            help='Set this network as an internal network')
+        default_router_grp = parser.add_mutually_exclusive_group()
+        default_router_grp.add_argument(
+            '--default',
+            action='store_true',
+            help='Specify if this network should be used as '
+                 'the default external network')
+        default_router_grp.add_argument(
+            '--no-default',
+            action='store_true',
+            help='Do not use the network as the default external network.')
         return parser
 
     def take_action(self, parsed_args):
diff --git a/openstackclient/tests/network/v2/test_network.py b/openstackclient/tests/network/v2/test_network.py
index 8a75101b5..7d0f8717f 100644
--- a/openstackclient/tests/network/v2/test_network.py
+++ b/openstackclient/tests/network/v2/test_network.py
@@ -482,12 +482,16 @@ class TestSetNetwork(TestNetwork):
             '--enable',
             '--name', 'noob',
             '--share',
+            '--external',
+            '--default',
         ]
         verifylist = [
             ('network', self._network.name),
             ('enable', True),
             ('name', 'noob'),
             ('share', True),
+            ('external', True),
+            ('default', True),
         ]
 
         parsed_args = self.check_parser(self.cmd, arglist, verifylist)
@@ -497,6 +501,8 @@ class TestSetNetwork(TestNetwork):
             'name': 'noob',
             'admin_state_up': True,
             'shared': True,
+            'router:external': True,
+            'is_default': True,
         }
         self.network.update_network.assert_called_once_with(
             self._network, **attrs)
@@ -507,11 +513,13 @@ class TestSetNetwork(TestNetwork):
             self._network.name,
             '--disable',
             '--no-share',
+            '--internal',
         ]
         verifylist = [
             ('network', self._network.name),
             ('disable', True),
             ('no_share', True),
+            ('internal', True),
         ]
 
         parsed_args = self.check_parser(self.cmd, arglist, verifylist)
@@ -520,6 +528,7 @@ class TestSetNetwork(TestNetwork):
         attrs = {
             'admin_state_up': False,
             'shared': False,
+            'router:external': False,
         }
         self.network.update_network.assert_called_once_with(
             self._network, **attrs)
diff --git a/releasenotes/notes/bug-1545537-7a66219d263bb1e5.yaml b/releasenotes/notes/bug-1545537-7a66219d263bb1e5.yaml
index db0e22a1c..30056eb7d 100644
--- a/releasenotes/notes/bug-1545537-7a66219d263bb1e5.yaml
+++ b/releasenotes/notes/bug-1545537-7a66219d263bb1e5.yaml
@@ -2,6 +2,7 @@
 features:
   - |
     Add external network options ``--external|--internal`` and ``--external``
-    suboptions ``--default|--no-default`` to the ``network create`` command.
-    These options are available for Networkv2 only.
-    [Bug `1545537 <https://bugs.launchpad.net/bugs/1545537>`_]
+    suboptions ``--default|--no-default`` to the ``network create`` and
+    ``network set`` commands.
+    These options are available for Network version 2 only.
+    [Bug `1545537 <https://bugs.launchpad.net/bugs/1545537>`_]
\ No newline at end of file