diff --git a/activerecord/CHANGELOG.md b/activerecord/CHANGELOG.md
index bce288aefb3717d708e5182a55c01d0e6c545d23..fc40bd88be8fceecb1bbfae310975a745288d783 100644
--- a/activerecord/CHANGELOG.md
+++ b/activerecord/CHANGELOG.md
@@ -1,9 +1,17 @@
+*   `rename_index` adds the new index before removing the old one. This allows
+    to rename indexes on columns with a foreign key and prevents the following error:
+
+    `Cannot drop index 'index_engines_on_car_id': needed in a foreign key constraint`
+
+    *Cody Cutrer*, *Yves Senn*
+
 *   Raise `ActiveRecord::RecordNotDestroyed` when a replaced child marked with `dependent: destroy` fails to be destroyed.
 
     Fix #12812
 
     *Brian Thomas Storti*
 
+
 *   Fix validation on uniqueness of empty association.
 
     *Evgeny Li*
diff --git a/activerecord/lib/active_record/connection_adapters/abstract/schema_statements.rb b/activerecord/lib/active_record/connection_adapters/abstract/schema_statements.rb
index 4b425494d05d06be5a4195acb748be3c0ca7550b..6268ae48758d0a2e0cfbc2a2040c578cb0522e8c 100644
--- a/activerecord/lib/active_record/connection_adapters/abstract/schema_statements.rb
+++ b/activerecord/lib/active_record/connection_adapters/abstract/schema_statements.rb
@@ -558,8 +558,8 @@ def rename_index(table_name, old_name, new_name)
         # this is a naive implementation; some DBs may support this more efficiently (Postgres, for instance)
         old_index_def = indexes(table_name).detect { |i| i.name == old_name }
         return unless old_index_def
-        remove_index(table_name, :name => old_name)
-        add_index(table_name, old_index_def.columns, :name => new_name, :unique => old_index_def.unique)
+        add_index(table_name, old_index_def.columns, name: new_name, unique: old_index_def.unique)
+        remove_index(table_name, name: old_name)
       end
 
       def index_name(table_name, options) #:nodoc:
diff --git a/activerecord/test/cases/adapters/mysql2/schema_migrations_test.rb b/activerecord/test/cases/adapters/mysql2/schema_migrations_test.rb
index 9ecd901eac2a1b7879da041ecd677efbecad8292..ec73ec35aa6ee2359d603a71f792b96ddc403f41 100644
--- a/activerecord/test/cases/adapters/mysql2/schema_migrations_test.rb
+++ b/activerecord/test/cases/adapters/mysql2/schema_migrations_test.rb
@@ -4,22 +4,35 @@ module ActiveRecord
   module ConnectionAdapters
     class Mysql2Adapter
       class SchemaMigrationsTest < ActiveRecord::TestCase
-        def test_initializes_schema_migrations_for_encoding_utf8mb4
-          conn = ActiveRecord::Base.connection
+        def test_renaming_index_on_foreign_key
+          connection.add_index "engines", "car_id"
+          connection.execute "ALTER TABLE engines ADD CONSTRAINT fk_engines_cars FOREIGN KEY (car_id) REFERENCES cars(id)"
+
+          connection.rename_index("engines", "index_engines_on_car_id", "idx_renamed")
+          assert_equal ["idx_renamed"], connection.indexes("engines").map(&:name)
+        ensure
+          connection.execute "ALTER TABLE engines DROP FOREIGN KEY fk_engines_cars"
+        end
 
+        def test_initializes_schema_migrations_for_encoding_utf8mb4
           smtn = ActiveRecord::Migrator.schema_migrations_table_name
-          conn.drop_table(smtn) if conn.table_exists?(smtn)
+          connection.drop_table(smtn) if connection.table_exists?(smtn)
 
-          config = conn.instance_variable_get(:@config)
+          config = connection.instance_variable_get(:@config)
           original_encoding = config[:encoding]
 
           config[:encoding] = 'utf8mb4'
-          conn.initialize_schema_migrations_table
+          connection.initialize_schema_migrations_table
 
-          assert conn.column_exists?(smtn, :version, :string, limit: Mysql2Adapter::MAX_INDEX_LENGTH_FOR_UTF8MB4)
+          assert connection.column_exists?(smtn, :version, :string, limit: Mysql2Adapter::MAX_INDEX_LENGTH_FOR_UTF8MB4)
         ensure
           config[:encoding] = original_encoding
         end
+
+        private
+        def connection
+          @connection ||= ActiveRecord::Base.connection
+        end
       end
     end
   end