diff --git a/cli/wallet/multisig.go b/cli/wallet/multisig.go
index 9f8176dd7..4f1411503 100644
--- a/cli/wallet/multisig.go
+++ b/cli/wallet/multisig.go
@@ -27,7 +27,7 @@ func newMultisigCommands() []cli.Command {
 		{
 			Name:      "sign",
 			Usage:     "sign a transaction",
-			UsageText: "multisig sign --path <path> --addr <addr> --in <file.in> --out <file.out>",
+			UsageText: "multisig sign --wallet <path> --addr <addr> --in <file.in> --out <file.out>",
 			Action:    signMultisig,
 			Flags:     signFlags,
 		},
diff --git a/cli/wallet/nep5.go b/cli/wallet/nep5.go
index 99e267620..69175ba69 100644
--- a/cli/wallet/nep5.go
+++ b/cli/wallet/nep5.go
@@ -60,21 +60,21 @@ func newNEP5Commands() []cli.Command {
 		{
 			Name:      "balance",
 			Usage:     "get address balance",
-			UsageText: "balance --path <path> --rpc-endpoint <node> --timeout <time> --addr <addr> [--token <hash-or-name>]",
+			UsageText: "balance --wallet <path> --rpc-endpoint <node> --timeout <time> --addr <addr> [--token <hash-or-name>]",
 			Action:    getNEP5Balance,
 			Flags:     balanceFlags,
 		},
 		{
 			Name:      "import",
 			Usage:     "import NEP5 token to a wallet",
-			UsageText: "import --path <path> --rpc-endpoint <node> --timeout <time> --token <hash>",
+			UsageText: "import --wallet <path> --rpc-endpoint <node> --timeout <time> --token <hash>",
 			Action:    importNEP5Token,
 			Flags:     importFlags,
 		},
 		{
 			Name:      "info",
 			Usage:     "print imported NEP5 token info",
-			UsageText: "print --path <path> [--token <hash-or-name>]",
+			UsageText: "print --wallet <path> [--token <hash-or-name>]",
 			Action:    printNEP5Info,
 			Flags: []cli.Flag{
 				walletPathFlag,
@@ -87,7 +87,7 @@ func newNEP5Commands() []cli.Command {
 		{
 			Name:      "remove",
 			Usage:     "remove NEP5 token from the wallet",
-			UsageText: "remove --path <path> <hash-or-name>",
+			UsageText: "remove --wallet <path> <hash-or-name>",
 			Action:    removeNEP5Token,
 			Flags: []cli.Flag{
 				walletPathFlag,
@@ -101,7 +101,7 @@ func newNEP5Commands() []cli.Command {
 		{
 			Name:      "transfer",
 			Usage:     "transfer NEP5 tokens",
-			UsageText: "transfer --path <path> --rpc-endpoint <node> --timeout <time> --from <addr> --to <addr> --token <hash> --amount string",
+			UsageText: "transfer --wallet <path> --rpc-endpoint <node> --timeout <time> --from <addr> --to <addr> --token <hash> --amount string",
 			Action:    transferNEP5,
 			Flags:     transferFlags,
 		},
diff --git a/cli/wallet/wallet.go b/cli/wallet/wallet.go
index dccc6c1a4..f92de3a77 100644
--- a/cli/wallet/wallet.go
+++ b/cli/wallet/wallet.go
@@ -20,13 +20,13 @@ import (
 )
 
 var (
-	errNoPath         = errors.New("target path where the wallet should be stored is mandatory and should be passed using (--path, -p) flags")
+	errNoPath         = errors.New("target path where the wallet should be stored is mandatory and should be passed using (--wallet, -w) flags")
 	errPhraseMismatch = errors.New("the entered pass-phrases do not match. Maybe you have misspelled them")
 )
 
 var (
 	walletPathFlag = cli.StringFlag{
-		Name:  "path, p",
+		Name:  "wallet, w",
 		Usage: "Target location of the wallet file.",
 	}
 	wifFlag = cli.StringFlag{
@@ -123,7 +123,7 @@ func NewCommands() []cli.Command {
 			{
 				Name:      "export",
 				Usage:     "export keys for address",
-				UsageText: "export --path <path> [--decrypt] [<address>]",
+				UsageText: "export --wallet <path> [--decrypt] [<address>]",
 				Action:    exportKeys,
 				Flags: []cli.Flag{
 					walletPathFlag,
@@ -150,7 +150,7 @@ func NewCommands() []cli.Command {
 			{
 				Name:  "import-multisig",
 				Usage: "import multisig contract",
-				UsageText: "import-multisig --path <path> --wif <wif> --min <n>" +
+				UsageText: "import-multisig --wallet <path> --wif <wif> --min <n>" +
 					" [<pubkey1> [<pubkey2> [...]]]",
 				Action: importMultisig,
 				Flags: []cli.Flag{
@@ -169,7 +169,7 @@ func NewCommands() []cli.Command {
 			{
 				Name:      "remove",
 				Usage:     "remove an account from the wallet",
-				UsageText: "remove --path <path> [--force] <addr>",
+				UsageText: "remove --wallet <path> [--force] <addr>",
 				Action:    removeAccount,
 				Flags: []cli.Flag{
 					walletPathFlag,
diff --git a/docs/cli.md b/docs/cli.md
index d1415da15..8cff392e5 100644
--- a/docs/cli.md
+++ b/docs/cli.md
@@ -178,6 +178,6 @@ There is a small subset of commands:
 
 ## Wallet operations
 
-- `./bin/neo-go wallet init -p newWallet` to create new wallet in the path `newWallet`
-- `./bin/neo-go wallet dump -p newWallet` to open created wallet in the path `newWallet`
-- `./bin/neo-go wallet init -p newWallet -a` to create new account
+- `./bin/neo-go wallet init -w newWallet` to create new wallet in the path `newWallet`
+- `./bin/neo-go wallet dump -w newWallet` to open created wallet in the path `newWallet`
+- `./bin/neo-go wallet init -w newWallet -a` to create new account