diff --git a/src/box/lua/load_cfg.lua b/src/box/lua/load_cfg.lua
index 85617c8f0b3abb3fee785580dcf91ef493236bf6..5aa6ce7035ade0b3ac59ead82a62d9acb2f21caa 100644
--- a/src/box/lua/load_cfg.lua
+++ b/src/box/lua/load_cfg.lua
@@ -548,6 +548,9 @@ local function load_cfg(cfg)
                 fun()
             end
             if not compare_cfg(val, default_cfg[key]) then
+                if log_cfg_option[key] ~= nil then
+                    val = log_cfg_option[key](val)
+                end
                 log.info("set '%s' configuration option to %s", key, json.encode(val))
             end
         end
diff --git a/test/box/cfg.result b/test/box/cfg.result
index 5370bb8703db81148544913746b3f24c813eeee6..fe20eea011839dbcb7df5c991a6ad02dad1b580e 100644
--- a/test/box/cfg.result
+++ b/test/box/cfg.result
@@ -580,3 +580,33 @@ test_run:cmd("cleanup server cfg_tester6")
  | ---
  | - true
  | ...
+
+--
+-- gh-4493: Replication user password may leak to logs
+--
+test_run:cmd('create server cfg_tester7 with script = "box/lua/cfg_test6.lua"')
+ | ---
+ | - true
+ | ...
+test_run:cmd("start server cfg_tester7")
+ | ---
+ | - true
+ | ...
+-- test there is replication log in log
+test_run:grep_log('cfg_tester7', 'set \'replication\' configuration option to', 1000)
+ | ---
+ | - set 'replication' configuration option to
+ | ...
+-- test there is no password in log
+test_run:grep_log('cfg_tester7', 'test%-cluster%-cookie', 1000)
+ | ---
+ | - null
+ | ...
+test_run:cmd("stop server cfg_tester7")
+ | ---
+ | - true
+ | ...
+test_run:cmd("cleanup server cfg_tester7")
+ | ---
+ | - true
+ | ...
diff --git a/test/box/cfg.test.lua b/test/box/cfg.test.lua
index 56ccb6767df4af7e3ee5e611d165d1ee832a5043..ba273bb73945edd0db2eb63710e600ba7f1ba793 100644
--- a/test/box/cfg.test.lua
+++ b/test/box/cfg.test.lua
@@ -141,3 +141,15 @@ test_run:cmd("start server cfg_tester6")
 test_run:grep_log('cfg_tester6', 'set \'vinyl_memory\' configuration option to 1073741824', 1000)
 test_run:cmd("stop server cfg_tester6")
 test_run:cmd("cleanup server cfg_tester6")
+
+--
+-- gh-4493: Replication user password may leak to logs
+--
+test_run:cmd('create server cfg_tester7 with script = "box/lua/cfg_test6.lua"')
+test_run:cmd("start server cfg_tester7")
+-- test there is replication log in log
+test_run:grep_log('cfg_tester7', 'set \'replication\' configuration option to', 1000)
+-- test there is no password in log
+test_run:grep_log('cfg_tester7', 'test%-cluster%-cookie', 1000)
+test_run:cmd("stop server cfg_tester7")
+test_run:cmd("cleanup server cfg_tester7")
diff --git a/test/box/lua/cfg_test6.lua b/test/box/lua/cfg_test6.lua
new file mode 100644
index 0000000000000000000000000000000000000000..efcfc6f3e1e0467917b500c5fa423117ea061555
--- /dev/null
+++ b/test/box/lua/cfg_test6.lua
@@ -0,0 +1,10 @@
+#!/usr/bin/env tarantool
+os = require('os')
+
+box.cfg{
+    listen = os.getenv("LISTEN"),
+    replication         = "admin:test-cluster-cookie@" .. os.getenv("LISTEN"),
+    replication_connect_timeout = 0.1,
+}
+
+require('console').listen(os.getenv('ADMIN'))