diff --git a/docs/integrations/rest-api.md b/docs/integrations/rest-api.md
index 9b34ad238..bac984a08 100644
--- a/docs/integrations/rest-api.md
+++ b/docs/integrations/rest-api.md
@@ -250,13 +250,16 @@ Similarly, you can opt to omit only specific fields by passing the `omit` parame
 GET /api/dcim/sites/?omit=circuit_count,device_count,virtualmachine_count
 ```
 
-!!! note "The `omit` paramater was introduced in NetBox v4.5.2."
+!!! note "The `omit` parameter was introduced in NetBox v4.5.2."
 
-Strategic use of the `fields` and `omit` parameters can drastically improve REST API performance, as the exclusion of fields which reference related objects reduces the number and compelxity of underlying database queries needed to generate the response.
+Strategic use of the `fields` and `omit` parameters can drastically improve REST API performance, as the exclusion of fields which reference related objects reduces the number and complexity of underlying database queries needed to generate the response.
+
+!!! note
+    The `fields` and `omit` parameters should be considered mutually exclusive. If both are passed, `fields` takes precedence.
 
 #### Brief Format
 
-Most API endpoints support an optional "brief" format, which returns only a minimal representation of each object in the response. This is useful when you need only a list of available objects without any related data, such as when populating a drop-down list in a form. It's also more convenient than listing out individual fileds via the `fields` or `omit` parameters. As an example, the default (complete) format of a prefix looks like this:
+Most API endpoints support an optional "brief" format, which returns only a minimal representation of each object in the response. This is useful when you need only a list of available objects without any related data, such as when populating a drop-down list in a form. It's also more convenient than listing out individual fields via the `fields` or `omit` parameters. As an example, the default (complete) format of a prefix looks like this:
 
 ```no-highlight
 GET /api/ipam/prefixes/13980/
diff --git a/netbox/netbox/api/serializers/base.py b/netbox/netbox/api/serializers/base.py
index 7f66e12c7..16d57fc50 100644
--- a/netbox/netbox/api/serializers/base.py
+++ b/netbox/netbox/api/serializers/base.py
@@ -1,9 +1,8 @@
 from functools import cached_property
 
-from rest_framework import serializers
-from rest_framework.utils.serializer_helpers import BindingDict
-from drf_spectacular.utils import extend_schema_field
 from drf_spectacular.types import OpenApiTypes
+from drf_spectacular.utils import extend_schema_field
+from rest_framework import serializers
 
 from utilities.api import get_related_object_by_attrs
 from .fields import NetBoxAPIHyperlinkedIdentityField, NetBoxURLHyperlinkedIdentityField
@@ -26,9 +25,11 @@ class BaseModelSerializer(serializers.ModelSerializer):
         :param nested: Set to True if this serializer is being employed within a parent serializer
         :param fields: An iterable of fields to include when rendering the serialized object, If nested is
             True but no fields are specified, Meta.brief_fields will be used.
+        :param omit: An iterable of fields to omit from the serialized object
         """
         self.nested = nested
-        self._requested_fields = fields
+        self._include_fields = fields or []
+        self._omit_fields = omit or []
 
         # Disable validators for nested objects (which already exist)
         if self.nested:
@@ -36,8 +37,8 @@ class BaseModelSerializer(serializers.ModelSerializer):
 
         # If this serializer is nested but no fields have been specified,
         # default to using Meta.brief_fields (if set)
-        if self.nested and not fields:
-            self._requested_fields = getattr(self.Meta, 'brief_fields', None)
+        if self.nested and not fields and not omit:
+            self._include_fields = getattr(self.Meta, 'brief_fields', None)
 
         super().__init__(*args, **kwargs)
 
@@ -63,16 +64,20 @@ class BaseModelSerializer(serializers.ModelSerializer):
     @cached_property
     def fields(self):
         """
-        Override the fields property to check for requested fields. If defined,
-        return only the applicable fields.
+        Override the fields property to return only specifically requested fields if needed.
         """
-        if not self._requested_fields:
-            return super().fields
+        fields = super().fields
+
+        # Include only requested fields
+        if self._include_fields:
+            fields = {
+                k: v for k, v in fields.items() if k in self._include_fields
+            }
+
+        # Remove omitted fields
+        for field_name in set(self._omit_fields):
+            fields.pop(field_name, None)
 
-        fields = BindingDict(self)
-        for key, value in self.get_fields().items():
-            if key in self._requested_fields:
-                fields[key] = value
         return fields
 
     @extend_schema_field(OpenApiTypes.STR)
diff --git a/netbox/netbox/api/viewsets/__init__.py b/netbox/netbox/api/viewsets/__init__.py
index 517eeaf4b..ea2195990 100644
--- a/netbox/netbox/api/viewsets/__init__.py
+++ b/netbox/netbox/api/viewsets/__init__.py
@@ -5,13 +5,13 @@ from django.core.exceptions import ObjectDoesNotExist, PermissionDenied
 from django.db import router, transaction
 from django.db.models import ProtectedError, RestrictedError
 from django_pglocks import advisory_lock
-from netbox.constants import ADVISORY_LOCK_KEYS
 from rest_framework import mixins as drf_mixins
 from rest_framework import status
 from rest_framework.response import Response
 from rest_framework.viewsets import GenericViewSet
 
 from netbox.api.serializers.features import ChangeLogMessageSerializer
+from netbox.constants import ADVISORY_LOCK_KEYS
 from utilities.api import get_annotations_for_serializer, get_prefetches_for_serializer
 from utilities.exceptions import AbortRequest
 from utilities.query import reapply_model_ordering
@@ -75,6 +75,7 @@ class BaseViewSet(GenericViewSet):
 
     @cached_property
     def field_kwargs(self):
+        """Return a dictionary of keyword arguments to be passed when instantiating the serializer."""
         # An explicit list of fields was requested
         if requested_fields := self.request.query_params.get('fields'):
             return {'fields': requested_fields.split(',')}