diff --git a/packages/keyring-controller/CHANGELOG.md b/packages/keyring-controller/CHANGELOG.md
index f918e01ef62..10822eb02b9 100644
--- a/packages/keyring-controller/CHANGELOG.md
+++ b/packages/keyring-controller/CHANGELOG.md
@@ -9,6 +9,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ### Changed
 
+- **BREAKING:** The `data` property has been added to the `KeyringObject` type ([#8009](https://github.com/MetaMask/core/pull/8009))
+  - This change is also reflected in the `KeyringControllerState` type, via the `keyrings` property
 - Bump `@metamask/keyring-api` from `^21.0.0` to `^21.5.0` ([#7857](https://github.com/MetaMask/core/pull/7857))
 - Bump `@metamask/keyring-internal-api` from `^9.0.0` to `^10.0.0` ([#7857](https://github.com/MetaMask/core/pull/7857))
 
diff --git a/packages/keyring-controller/src/KeyringController.test.ts b/packages/keyring-controller/src/KeyringController.test.ts
index 9498f4efe78..09e391d5dbc 100644
--- a/packages/keyring-controller/src/KeyringController.test.ts
+++ b/packages/keyring-controller/src/KeyringController.test.ts
@@ -1330,6 +1330,9 @@ describe('KeyringController', () => {
             const newKeyring = {
               accounts: [address],
               type: 'Simple Key Pair',
+              data: [
+                '1e4e6a4c0c077f4ae8ddfbf372918e61dd0fb4a4cfa592cb16e7546d505e68fc',
+              ],
             };
             const importedAccountAddress =
               await controller.importAccountWithStrategy(
@@ -1422,6 +1425,9 @@ describe('KeyringController', () => {
             const newKeyring = {
               accounts: [address],
               type: 'Simple Key Pair',
+              data: [
+                '62390c1fe2fe70071bf6dc7345a872de041dc9663b89b2e28e6ce920427169c7',
+              ],
             };
             const modifiedState = {
               ...initialState,
@@ -2868,16 +2874,14 @@ describe('KeyringController', () => {
     });
 
     it('should unlock succesfully when the controller is instantiated with an existing `keyringsMetadata`', async () => {
-      stubKeyringClassWithAccount(HdKeyring, '0x123');
+      stubKeyringClassWithAccount(MockKeyring, '0x123');
       await withController(
         {
           state: {
             vault: createVault([
               {
-                type: KeyringTypes.hd,
-                data: {
-                  accounts: ['0x123'],
-                },
+                type: MockKeyring.type,
+                data: {},
                 metadata: {
                   id: '123',
                   name: '',
@@ -2885,6 +2889,7 @@ describe('KeyringController', () => {
               },
             ]),
           },
+          keyringBuilders: [keyringBuilderFactory(MockKeyring)],
           skipVaultCreation: true,
         },
         async ({ controller }) => {
@@ -2892,8 +2897,9 @@ describe('KeyringController', () => {
 
           expect(controller.state.keyrings).toStrictEqual([
             {
-              type: KeyringTypes.hd,
+              type: MockKeyring.type,
               accounts: ['0x123'],
+              data: {},
               metadata: {
                 id: '123',
                 name: '',
@@ -2937,6 +2943,9 @@ describe('KeyringController', () => {
             {
               type: KeyringTypes.hd,
               accounts: expect.any(Array),
+              data: {
+                accounts: ['0x123'],
+              },
               metadata: {
                 id: expect.any(String),
                 name: '',
@@ -4406,7 +4415,6 @@ describe('KeyringController', () => {
           ).toMatchInlineSnapshot(`
             {
               "isUnlocked": false,
-              "keyrings": [],
             }
           `);
         },
diff --git a/packages/keyring-controller/src/KeyringController.ts b/packages/keyring-controller/src/KeyringController.ts
index add11e8183b..3fd0725fd9e 100644
--- a/packages/keyring-controller/src/KeyringController.ts
+++ b/packages/keyring-controller/src/KeyringController.ts
@@ -291,6 +291,10 @@ export type KeyringObject = {
    * Keyring type.
    */
   type: string;
+  /**
+   * Keyring serialized data.
+   */
+  data: Json;
   /**
    * Additional data associated with the keyring.
    */
@@ -662,6 +666,7 @@ async function displayForKeyring({
     // Cast to `string[]` here is safe here because `accounts` has no nullish
     // values, and `normalize` returns `string` unless given a nullish value
     accounts: accounts.map(normalize) as string[],
+    data: cloneDeep(await keyring.serialize()),
     metadata,
   };
 }
@@ -770,7 +775,7 @@ export class KeyringController<
           usedInUi: true,
         },
         keyrings: {
-          includeInStateLogs: true,
+          includeInStateLogs: false,
           persist: false,
           includeInDebugSnapshot: false,
           usedInUi: true,
@@ -2303,6 +2308,7 @@ export class KeyringController<
       const updatedKeyrings = await this.#getUpdatedKeyrings();
 
       this.update((state) => {
+        // @ts-expect-error The `Json` type causes the error `Type instantiation is excessively deep and possibly infinite`
         state.keyrings = updatedKeyrings;
         state.encryptionKey = encryptionKey;
         state.encryptionSalt = this.#encryptionKey?.salt;