diff --git a/README.md b/README.md
index 78b56b2b..4c6bf997 100644
--- a/README.md
+++ b/README.md
@@ -164,7 +164,7 @@ export default Ember.Component.extend({
 `model` Optional string - The dependent property. Must be an ember data model or an object with `modelName` and `id` properties. (It is still experimental)
 
 `options` are:
-- `legacyKey` String
+- `legacyKey` String - **Deprecated see [Deprecations](#deprecations)**
 
 
 #### Methods
@@ -391,6 +391,15 @@ export default Route.extend({
 - `download` Boolean (default `false`)
 - `filename` String (default ember-data.json)
 
+## Deprecations
+
+### storageFor - legacyKey
+until: 2.0.0
+
+id: ember-local-storage.storageFor.options.legacyKey
+
+Using `legacyKey` has been deprecated and will be removed in version 2.0.0. You should migrate your key to the new format. For `storageFor('settings')` that would be `storage:settings`.
+
 ## Running
 
 * `ember serve`
diff --git a/addon/helpers/storage.js b/addon/helpers/storage.js
index 286f82af..2ddd9b0f 100644
--- a/addon/helpers/storage.js
+++ b/addon/helpers/storage.js
@@ -6,7 +6,8 @@ const {
   getOwner,
   String: {
     dasherize
-  }
+  },
+  deprecate
 } = Ember;
 
 const assign = Ember.assign || Ember.merge;
@@ -38,6 +39,7 @@ function getStorage(name) {
 
 let storages = {};
 
+// TODO: v2.0 - Remove options
 function storageFor(key, modelName, options = {}) {
   if (arguments.length === 2 && typeof modelName === 'object') {
     options = modelName;
@@ -85,6 +87,7 @@ function storageFor(key, modelName, options = {}) {
  * Looks up the storage factory on the container and sets initial state
  * on the instance if desired.
  */
+// TODO: v2.0 - Remove options and legacyKey
 function createStorage(context, key, modelKey, options) {
   const owner = getOwner(context);
   const factoryType = 'storage';
@@ -95,6 +98,12 @@ function createStorage(context, key, modelKey, options) {
   owner.registerOptionsForType(factoryType, { instantiate: false });
 
   if (options.legacyKey) {
+    deprecate('Using legacyKey has been deprecated and will be removed in version 2.0.0', false, {
+      id: 'ember-local-storage.storageFor.options.legacyKey',
+      until: '2.0.0',
+      url: 'https://github.com/funkensturm/ember-local-storage#deprecations'
+    });
+
     storageKey = options.legacyKey;
   } else {
     storageKey = modelKey ? `${storageFactory}:${modelKey}` : storageFactory;