diff --git a/awx/conf/models.py b/awx/conf/models.py
index 7dae8bc77e..d37b634fe0 100644
--- a/awx/conf/models.py
+++ b/awx/conf/models.py
@@ -78,6 +78,14 @@ class Setting(CreatedModifiedModel):
     def get_cache_id_key(self, key):
         return '{}_ID'.format(key)
 
+    def display_value(self):
+        if self.key == 'LICENSE' and 'license_key' in self.value:
+            # don't log the license key in activity stream
+            value = self.value.copy()
+            value['license_key'] = '********'
+            return value
+        return self.value
+
 
 import awx.conf.signals  # noqa