diff --git a/changelogs/fragments/20241206-ec2_nat_gateway-retry-on-invalid-elastic-ip-id.yaml b/changelogs/fragments/20241206-ec2_nat_gateway-retry-on-invalid-elastic-ip-id.yaml
new file mode 100644
index 0000000000..2fa96054fb
--- /dev/null
+++ b/changelogs/fragments/20241206-ec2_nat_gateway-retry-on-invalid-elastic-ip-id.yaml
@@ -0,0 +1,3 @@
+---
+minor_changes:
+  - module_utils/ec2 - catch error code ``InvalidElasticIpID.NotFound`` on function ``create_nat_gateway()``, sometimes the ``allocate_address`` API calls will return the ID for a new elastic IP resource before it can be consistently referenced (https://github.com/ansible-collections/amazon.aws/issues/1872).
\ No newline at end of file
diff --git a/plugins/module_utils/ec2.py b/plugins/module_utils/ec2.py
index 0dd15e41ff..4490044bb1 100644
--- a/plugins/module_utils/ec2.py
+++ b/plugins/module_utils/ec2.py
@@ -482,7 +482,7 @@ def delete_nat_gateway(client, nat_gateway_id: str) -> bool:
 
 
 @EC2NatGatewayErrorHandler.common_error_handler("create nat gateway")
-@AWSRetry.jittered_backoff()
+@AWSRetry.jittered_backoff(catch_extra_error_codes=["InvalidElasticIpID.NotFound"])
 def create_nat_gateway(
     client, **params: Dict[str, Union[str, bool, int, EC2TagSpecifications, List[str]]]
 ) -> Dict[str, Any]: