diff --git a/src/modules/color/index.ts b/src/modules/color/index.ts
index 57b906a376d..a9b39377668 100644
--- a/src/modules/color/index.ts
+++ b/src/modules/color/index.ts
@@ -389,7 +389,7 @@ export class ColorModule extends ModuleBase {
 
     color = Array.from({ length: 3 }, () => this.faker.number.int(255));
     if (includeAlpha) {
-      color.push(this.faker.number.float({ precision: 0.01 }));
+      color.push(this.faker.number.float({ multipleOf: 0.01 }));
       cssFunction = 'rgba';
     }
 
@@ -470,7 +470,7 @@ export class ColorModule extends ModuleBase {
   }): string | number[];
   cmyk(options?: { format?: ColorFormat }): string | number[] {
     const color: string | number[] = Array.from({ length: 4 }, () =>
-      this.faker.number.float({ precision: 0.01 })
+      this.faker.number.float({ multipleOf: 0.01 })
     );
     return toColorFormat(color, options?.format || 'decimal', 'cmyk');
   }
@@ -580,7 +580,7 @@ export class ColorModule extends ModuleBase {
   }): string | number[] {
     const hsl: number[] = [this.faker.number.int(360)];
     for (let i = 0; i < (options?.includeAlpha ? 3 : 2); i++) {
-      hsl.push(this.faker.number.float({ precision: 0.01 }));
+      hsl.push(this.faker.number.float({ multipleOf: 0.01 }));
     }
 
     return toColorFormat(
@@ -686,7 +686,7 @@ export class ColorModule extends ModuleBase {
   }): string | number[] {
     const hsl: number[] = [this.faker.number.int(360)];
     for (let i = 0; i < 2; i++) {
-      hsl.push(this.faker.number.float({ precision: 0.01 }));
+      hsl.push(this.faker.number.float({ multipleOf: 0.01 }));
     }
 
     return toColorFormat(hsl, options?.format || 'decimal', 'hwb');
@@ -765,10 +765,10 @@ export class ColorModule extends ModuleBase {
     format?: ColorFormat;
   }): string | number[];
   lab(options?: { format?: ColorFormat }): string | number[] {
-    const lab = [this.faker.number.float({ precision: 0.000001 })];
+    const lab = [this.faker.number.float({ multipleOf: 0.000001 })];
     for (let i = 0; i < 2; i++) {
       lab.push(
-        this.faker.number.float({ min: -100, max: 100, precision: 0.0001 })
+        this.faker.number.float({ min: -100, max: 100, multipleOf: 0.0001 })
       );
     }
 
@@ -860,9 +860,9 @@ export class ColorModule extends ModuleBase {
     format?: ColorFormat;
   }): string | number[];
   lch(options?: { format?: ColorFormat }): string | number[] {
-    const lch = [this.faker.number.float({ precision: 0.000001 })];
+    const lch = [this.faker.number.float({ multipleOf: 0.000001 })];
     for (let i = 0; i < 2; i++) {
-      lch.push(this.faker.number.float({ max: 230, precision: 0.1 }));
+      lch.push(this.faker.number.float({ max: 230, multipleOf: 0.1 }));
     }
 
     return toColorFormat(lch, options?.format || 'decimal', 'lch');
@@ -970,7 +970,7 @@ export class ColorModule extends ModuleBase {
     }
 
     const color = Array.from({ length: 3 }, () =>
-      this.faker.number.float({ precision: 0.0001 })
+      this.faker.number.float({ multipleOf: 0.0001 })
     );
     return toColorFormat(
       color,
diff --git a/src/modules/datatype/index.ts b/src/modules/datatype/index.ts
index b8830610548..daec9640dca 100644
--- a/src/modules/datatype/index.ts
+++ b/src/modules/datatype/index.ts
@@ -75,7 +75,7 @@ export class DatatypeModule extends SimpleModuleBase {
 
     const { min = 0, max = min + 99999, precision = 1 } = options;
 
-    return this.faker.number.float({ min, max, precision });
+    return this.faker.number.float({ min, max, multipleOf: precision });
   }
 
   /**
@@ -142,7 +142,7 @@ export class DatatypeModule extends SimpleModuleBase {
 
     const { min = 0, max = min + 99999, precision = 0.01 } = options;
 
-    return this.faker.number.float({ min, max, precision });
+    return this.faker.number.float({ min, max, multipleOf: precision });
   }
 
   /**
diff --git a/src/modules/finance/index.ts b/src/modules/finance/index.ts
index 576ca0dbc92..4caa77b028c 100644
--- a/src/modules/finance/index.ts
+++ b/src/modules/finance/index.ts
@@ -601,7 +601,7 @@ export class FinanceModule extends ModuleBase {
     const randValue = this.faker.number.float({
       max,
       min,
-      precision: 10 ** -dec,
+      multipleOf: 10 ** -dec,
     });
 
     const formattedString = autoFormat
diff --git a/src/modules/helpers/index.ts b/src/modules/helpers/index.ts
index edc00ea9a01..635b3e09d4f 100644
--- a/src/modules/helpers/index.ts
+++ b/src/modules/helpers/index.ts
@@ -979,7 +979,6 @@ export class SimpleHelpersModule extends SimpleModuleBase {
     const random = this.faker.number.float({
       min: 0,
       max: total,
-      precision: 1e-9,
     });
     let current = 0;
     for (const { weight, value } of array) {
diff --git a/src/modules/location/index.ts b/src/modules/location/index.ts
index 6d15741dc7e..b06af49e656 100644
--- a/src/modules/location/index.ts
+++ b/src/modules/location/index.ts
@@ -579,7 +579,7 @@ export class LocationModule extends ModuleBase {
 
     const { max = 90, min = legacyMin, precision = legacyPrecision } = options;
 
-    return this.faker.number.float({ min, max, precision: 10 ** -precision });
+    return this.faker.number.float({ min, max, multipleOf: 10 ** -precision });
   }
 
   /**
@@ -732,7 +732,7 @@ export class LocationModule extends ModuleBase {
 
     const { max = 180, min = legacyMin, precision = legacyPrecision } = options;
 
-    return this.faker.number.float({ max, min, precision: 10 ** -precision });
+    return this.faker.number.float({ max, min, multipleOf: 10 ** -precision });
   }
 
   /**
@@ -1207,7 +1207,7 @@ export class LocationModule extends ModuleBase {
 
     const angleRadians = this.faker.number.float({
       max: 2 * Math.PI,
-      precision: 0.00001,
+      multipleOf: 0.00001,
     }); // in ° radians
 
     const radiusMetric = isMetric ? radius : radius * 1.60934; // in km
@@ -1215,7 +1215,7 @@ export class LocationModule extends ModuleBase {
     const distanceInKm =
       this.faker.number.float({
         max: radiusMetric,
-        precision: 0.001,
+        multipleOf: 0.001,
       }) * errorCorrection; // in km
 
     /**
diff --git a/src/modules/number/index.ts b/src/modules/number/index.ts
index 4becb3480d4..2d1af9ccbd9 100644
--- a/src/modules/number/index.ts
+++ b/src/modules/number/index.ts
@@ -1,4 +1,5 @@
 import { FakerError } from '../../errors/faker-error';
+import { deprecated } from '../../internal/deprecated';
 import { SimpleModuleBase } from '../../internal/module-base';
 
 /**
@@ -85,14 +86,18 @@ export class NumberModule extends SimpleModuleBase {
   }
 
   /**
-   * Returns a single random floating-point number for a given precision or range and precision.
-   * The lower bound is inclusive, the upper bound is exclusive, unless precision is passed.
+   * Returns a single random floating-point number.
+   * The lower bound is inclusive, the upper bound is exclusive, unless `multipleOf` is passed.
    *
    * @param options Upper bound or options object.
    * @param options.min Lower bound for generated number. Defaults to `0.0`.
    * @param options.max Upper bound for generated number. Defaults to `1.0`.
    * @param options.precision Precision of the generated number, for example `0.01` will round to 2 decimal points.
    * If precision is passed, the upper bound is inclusive.
+   * @param options.multipleOf The generated number will be a multiple of this property.
+   * This property can be used to limit the result to a specific number of decimal digits.
+   * For example `0.01` will round to 2 decimal points.
+   * If multipleOf is passed, the upper bound is inclusive.
    *
    * @throws When `min` is greater than `max`.
    * @throws When `precision` is negative.
@@ -102,8 +107,8 @@ export class NumberModule extends SimpleModuleBase {
    * faker.number.float(3) // 2.367973240558058
    * faker.number.float({ min: -1000000 }) //-780678.849672846
    * faker.number.float({ max: 100 }) // 17.3687307164073
-   * faker.number.float({ precision: 0.1 }) // 0.9
-   * faker.number.float({ min: 10, max: 100, precision: 0.001 }) // 35.415
+   * faker.number.float({ multipleOf: 0.25 }) // 3.75
+   * faker.number.float({ min: 10, max: 100, multipleOf: 0.001 }) // 35.415
    *
    * @since 8.0.0
    */
@@ -125,8 +130,15 @@ export class NumberModule extends SimpleModuleBase {
           max?: number;
           /**
            * Precision of the generated number.
+           *
+           * @deprecated Use `multipleOf` instead.
            */
           precision?: number;
+          /**
+           * The generated number will be a multiple of this property.
+           * If multipleOf is passed, the upper bound is inclusive.
+           */
+          multipleOf?: number;
         } = {}
   ): number {
     if (typeof options === 'number') {
@@ -135,7 +147,17 @@ export class NumberModule extends SimpleModuleBase {
       };
     }
 
-    const { min = 0, max = 1, precision } = options;
+    // eslint-disable-next-line deprecation/deprecation
+    const { min = 0, max = 1, precision, multipleOf = precision } = options;
+
+    if (precision !== undefined) {
+      deprecated({
+        deprecated: 'faker.number.float({ precision })',
+        proposed: 'faker.number.float({ multipleOf })',
+        since: '8.4',
+        until: '9.0',
+      });
+    }
 
     if (max === min) {
       return min;
@@ -145,17 +167,18 @@ export class NumberModule extends SimpleModuleBase {
       throw new FakerError(`Max ${max} should be greater than min ${min}.`);
     }
 
-    if (precision !== undefined) {
-      if (precision <= 0) {
-        throw new FakerError(`Precision should be greater than 0.`);
+    if (multipleOf !== undefined) {
+      if (multipleOf <= 0) {
+        // TODO @xDivisionByZerox: Clean up in v9.0
+        throw new FakerError(`multipleOf/precision should be greater than 0.`);
       }
 
-      const logPrecision = Math.log10(precision);
-      // Workaround to get integer values for the inverse of all precisions of the form 10^-n
+      const logPrecision = Math.log10(multipleOf);
+      // Workaround to get integer values for the inverse of all multiples of the form 10^-n
       const factor =
-        precision < 1 && Number.isInteger(logPrecision)
+        multipleOf < 1 && Number.isInteger(logPrecision)
           ? 10 ** -logPrecision
-          : 1 / precision;
+          : 1 / multipleOf;
       const int = this.int({
         min: min * factor,
         max: max * factor,
diff --git a/test/modules/__snapshots__/number.spec.ts.snap b/test/modules/__snapshots__/number.spec.ts.snap
index 3d10ddb4477..c04b4fe561e 100644
--- a/test/modules/__snapshots__/number.spec.ts.snap
+++ b/test/modules/__snapshots__/number.spec.ts.snap
@@ -26,6 +26,8 @@ exports[`number > 42 > float > with min 1`] = `-25.894775084685534`;
 
 exports[`number > 42 > float > with min and max 1`] = `-0.4260473116301`;
 
+exports[`number > 42 > float > with min, max and multipleOf 1`] = `-0.4261`;
+
 exports[`number > 42 > float > with min, max and precision 1`] = `-0.4261`;
 
 exports[`number > 42 > float > with plain number 1`] = `1.498160457238555`;
@@ -74,6 +76,8 @@ exports[`number > 1211 > float > with min 1`] = `-2.073633389081806`;
 
 exports[`number > 1211 > float > with min and max 1`] = `61.06573706539348`;
 
+exports[`number > 1211 > float > with min, max and multipleOf 1`] = `61.0658`;
+
 exports[`number > 1211 > float > with min, max and precision 1`] = `61.0658`;
 
 exports[`number > 1211 > float > with plain number 1`] = `3.7140806149691343`;
@@ -122,6 +126,8 @@ exports[`number > 1337 > float > with min 1`] = `-30.732938923640177`;
 
 exports[`number > 1337 > float > with min and max 1`] = `-12.915260942419991`;
 
+exports[`number > 1337 > float > with min, max and multipleOf 1`] = `-12.9153`;
+
 exports[`number > 1337 > float > with min, max and precision 1`] = `-12.9153`;
 
 exports[`number > 1337 > float > with plain number 1`] = `1.048098704777658`;
diff --git a/test/modules/datatype.spec.ts b/test/modules/datatype.spec.ts
index 3d65797d780..75f2897cf28 100644
--- a/test/modules/datatype.spec.ts
+++ b/test/modules/datatype.spec.ts
@@ -236,7 +236,9 @@ describe('datatype', () => {
         it('should throw when precision is negative', () => {
           expect(() => {
             faker.datatype.number({ precision: -0.01 });
-          }).toThrow(new FakerError('Precision should be greater than 0.'));
+          }).toThrow(
+            new FakerError('multipleOf/precision should be greater than 0.')
+          );
         });
       });
 
@@ -327,7 +329,9 @@ describe('datatype', () => {
         it('should throw when precision is negative', () => {
           expect(() => {
             faker.datatype.float({ precision: -0.01 });
-          }).toThrow(new FakerError('Precision should be greater than 0.'));
+          }).toThrow(
+            new FakerError('multipleOf/precision should be greater than 0.')
+          );
         });
       });
 
diff --git a/test/modules/number.spec.ts b/test/modules/number.spec.ts
index 81a1e992c72..c61498fab91 100644
--- a/test/modules/number.spec.ts
+++ b/test/modules/number.spec.ts
@@ -27,6 +27,11 @@ describe('number', () => {
           min: -42,
           max: 69,
           precision: 0.0001,
+        })
+        .it('with min, max and multipleOf', {
+          min: -42,
+          max: 69,
+          multipleOf: 0.0001,
         });
     });
 
@@ -244,6 +249,22 @@ describe('number', () => {
         expect(results).toEqual([0, 0.5, 1, 1.5]);
       });
 
+      it('provides numbers with a given multipleOf of 0.5 steps', () => {
+        const results = [
+          ...new Set(
+            Array.from({ length: 50 }, () =>
+              faker.number.float({
+                min: 0,
+                max: 1.5,
+                multipleOf: 0.5,
+              })
+            )
+          ),
+        ].sort();
+
+        expect(results).toEqual([0, 0.5, 1, 1.5]);
+      });
+
       it('provides numbers with a given precision of 0.4 steps', () => {
         const results = [
           ...new Set(
@@ -292,13 +313,25 @@ describe('number', () => {
 
       it('throws an error for precision 0', () => {
         expect(() => faker.number.float({ precision: 0 })).toThrow(
-          new FakerError('Precision should be greater than 0.')
+          new FakerError('multipleOf/precision should be greater than 0.')
+        );
+      });
+
+      it('throws an error for multipleOf 0', () => {
+        expect(() => faker.number.float({ multipleOf: 0 })).toThrow(
+          new FakerError('multipleOf/precision should be greater than 0.')
         );
       });
 
       it('throws an error for negative precision', () => {
         expect(() => faker.number.float({ precision: -0.01 })).toThrow(
-          new FakerError('Precision should be greater than 0.')
+          new FakerError('multipleOf/precision should be greater than 0.')
+        );
+      });
+
+      it('throws an error for negative multipleOf', () => {
+        expect(() => faker.number.float({ multipleOf: -0.01 })).toThrow(
+          new FakerError('multipleOf/precision should be greater than 0.')
         );
       });