diff --git a/sentence_transformers/SentenceTransformer.py b/sentence_transformers/SentenceTransformer.py
index dfcc297c8..438c54bd7 100644
--- a/sentence_transformers/SentenceTransformer.py
+++ b/sentence_transformers/SentenceTransformer.py
@@ -1094,6 +1094,12 @@ def _create_model_card(
         # we don't generate a new model card, but reuse the old one instead.
         if self._model_card_text and self.model_card_data.trainer is None:
             model_card = self._model_card_text
+            if self.model_card_data.model_id:
+                # If the original model card was saved without a model_id, we replace the model_id with the new model_id
+                model_card = model_card.replace(
+                    'model = SentenceTransformer("sentence_transformers_model_id"',
+                    f'model = SentenceTransformer("{self.model_card_data.model_id}"',
+                )
         else:
             try:
                 model_card = generate_model_card(self)
diff --git a/tests/test_sentence_transformer.py b/tests/test_sentence_transformer.py
index 2d789dd4a..9336a54fe 100644
--- a/tests/test_sentence_transformer.py
+++ b/tests/test_sentence_transformer.py
@@ -566,6 +566,28 @@ def test_similarity_score_save(stsb_bert_tiny_model: SentenceTransformer) -> Non
     assert np.not_equal(cosine_scores, dot_scores).all()
 
 
+def test_model_card_save_update_model_id(stsb_bert_tiny_model: SentenceTransformer) -> None:
+    model = stsb_bert_tiny_model
+    # Removing the saved model card will cause a fresh one to be generated when we save
+    model._model_card_text = ""
+    with tempfile.TemporaryDirectory() as tmp_folder:
+        model.save(tmp_folder)
+        with open(Path(tmp_folder) / "README.md", "r", encoding="utf8") as f:
+            model_card_text = f.read()
+            assert 'model = SentenceTransformer("sentence_transformers_model_id"' in model_card_text
+
+        # When we reload this saved model and then re-save it, we want to override the 'sentence_transformers_model_id'
+        # if we have it set
+        loaded_model = SentenceTransformer(tmp_folder)
+
+    with tempfile.TemporaryDirectory() as tmp_folder:
+        loaded_model.save(tmp_folder, model_name="test_user/test_model")
+
+        with open(Path(tmp_folder) / "README.md", "r", encoding="utf8") as f:
+            model_card_text = f.read()
+            assert 'model = SentenceTransformer("test_user/test_model"' in model_card_text
+
+
 def test_override_config_versions(stsb_bert_tiny_model: SentenceTransformer) -> None:
     model = stsb_bert_tiny_model