diff --git a/homeassistant/components/generic/__init__.py b/homeassistant/components/generic/__init__.py
index f243f1639b3..cb669d8b906 100644
--- a/homeassistant/components/generic/__init__.py
+++ b/homeassistant/components/generic/__init__.py
@@ -1,8 +1,12 @@
 """The generic component."""
+from __future__ import annotations
+
+from typing import Any
 
 from homeassistant.config_entries import ConfigEntry
 from homeassistant.const import Platform
-from homeassistant.core import HomeAssistant
+from homeassistant.core import HomeAssistant, callback
+from homeassistant.helpers import entity_registry as er
 
 DOMAIN = "generic"
 PLATFORMS = [Platform.CAMERA]
@@ -13,9 +17,25 @@ async def _async_update_listener(hass: HomeAssistant, entry: ConfigEntry) -> Non
     await hass.config_entries.async_reload(entry.entry_id)
 
 
+async def _async_migrate_unique_ids(hass: HomeAssistant, entry: ConfigEntry) -> None:
+    """Migrate entities to the new unique id."""
+
+    @callback
+    def _async_migrator(entity_entry: er.RegistryEntry) -> dict[str, Any] | None:
+        if entity_entry.unique_id == entry.entry_id:
+            # Already correct, nothing to do
+            return None
+        # There is only one entity, and its unique id
+        # should always be the same as the config entry entry_id
+        return {"new_unique_id": entry.entry_id}
+
+    await er.async_migrate_entries(hass, entry.entry_id, _async_migrator)
+
+
 async def async_setup_entry(hass: HomeAssistant, entry: ConfigEntry) -> bool:
     """Set up generic IP camera from a config entry."""
 
+    await _async_migrate_unique_ids(hass, entry)
     hass.config_entries.async_setup_platforms(entry, PLATFORMS)
 
     entry.async_on_unload(entry.add_update_listener(_async_update_listener))
diff --git a/homeassistant/components/generic/camera.py b/homeassistant/components/generic/camera.py
index e83cb0df0aa..d20032e2607 100644
--- a/homeassistant/components/generic/camera.py
+++ b/homeassistant/components/generic/camera.py
@@ -109,7 +109,7 @@ async def async_setup_entry(
     """Set up a generic IP Camera."""
 
     async_add_entities(
-        [GenericCamera(hass, entry.options, entry.unique_id, entry.title)]
+        [GenericCamera(hass, entry.options, entry.entry_id, entry.title)]
     )
 
 
diff --git a/homeassistant/components/generic/config_flow.py b/homeassistant/components/generic/config_flow.py
index 3d15069bca8..4298b473681 100644
--- a/homeassistant/components/generic/config_flow.py
+++ b/homeassistant/components/generic/config_flow.py
@@ -274,7 +274,6 @@ class GenericIPCamConfigFlow(ConfigFlow, domain=DOMAIN):
                         # is always jpeg
                         user_input[CONF_CONTENT_TYPE] = "image/jpeg"
 
-                    await self.async_set_unique_id(self.flow_id)
                     return self.async_create_entry(
                         title=name, data={}, options=user_input
                     )
@@ -302,7 +301,6 @@ class GenericIPCamConfigFlow(ConfigFlow, domain=DOMAIN):
             import_config[CONF_LIMIT_REFETCH_TO_URL_CHANGE] = False
         still_format = import_config.get(CONF_CONTENT_TYPE, "image/jpeg")
         import_config[CONF_CONTENT_TYPE] = still_format
-        await self.async_set_unique_id(self.flow_id)
         return self.async_create_entry(title=name, data={}, options=import_config)
 
 
diff --git a/tests/components/generic/test_config_flow.py b/tests/components/generic/test_config_flow.py
index 3caa1aa7adf..f5411ed3ea0 100644
--- a/tests/components/generic/test_config_flow.py
+++ b/tests/components/generic/test_config_flow.py
@@ -28,6 +28,7 @@ from homeassistant.const import (
     CONF_VERIFY_SSL,
     HTTP_BASIC_AUTHENTICATION,
 )
+from homeassistant.helpers import entity_registry
 
 from tests.common import MockConfigEntry
 
@@ -577,3 +578,36 @@ async def test_reload_on_title_change(hass) -> None:
     await hass.async_block_till_done()
 
     assert hass.states.get("camera.my_title").attributes["friendly_name"] == "New Title"
+
+
+async def test_migrate_existing_ids(hass) -> None:
+    """Test that existing ids are migrated for issue #70568."""
+
+    registry = entity_registry.async_get(hass)
+
+    test_data = TESTDATA_OPTIONS.copy()
+    test_data[CONF_CONTENT_TYPE] = "image/png"
+    old_unique_id = "54321"
+    entity_id = "camera.sample_camera"
+
+    mock_entry = MockConfigEntry(
+        domain=DOMAIN, unique_id=old_unique_id, options=test_data, title="My Title"
+    )
+    new_unique_id = mock_entry.entry_id
+    mock_entry.add_to_hass(hass)
+
+    entity_entry = registry.async_get_or_create(
+        "camera",
+        DOMAIN,
+        old_unique_id,
+        suggested_object_id="sample camera",
+        config_entry=mock_entry,
+    )
+    assert entity_entry.entity_id == entity_id
+    assert entity_entry.unique_id == old_unique_id
+
+    await hass.config_entries.async_setup(mock_entry.entry_id)
+    await hass.async_block_till_done()
+
+    entity_entry = registry.async_get(entity_id)
+    assert entity_entry.unique_id == new_unique_id