diff --git a/src/Components/SetOperation.php b/src/Components/SetOperation.php
index 2faf0c61..d2726180 100644
--- a/src/Components/SetOperation.php
+++ b/src/Components/SetOperation.php
@@ -113,12 +113,17 @@ public static function parse(Parser $parser, TokensList $list, array $options =
                     $commaLastSeenAt = $token;
                 }
             } elseif ($state === 1) {
+                // Reserved keywords like ON are valid values in SET statements
+                // (e.g. SET @@sql_log_bin = ON). Try parsing as expression first,
+                // and if that fails, accept reserved keywords as literal values.
                 $tmp = Expression::parse(
                     $parser,
                     $list,
                     ['breakOnAlias' => true]
                 );
-                if ($tmp === null) {
+                if ($tmp === null && $token->type === Token::TYPE_KEYWORD && $token->value === 'ON') {
+                    $tmp = new Expression($token->token);
+                } elseif ($tmp === null) {
                     $parser->error('Missing expression.', $token);
                     break;
                 }
diff --git a/tests/Parser/SetStatementTest.php b/tests/Parser/SetStatementTest.php
index 7c5e3ed1..f36565a6 100644
--- a/tests/Parser/SetStatementTest.php
+++ b/tests/Parser/SetStatementTest.php
@@ -34,6 +34,7 @@ public static function setProvider(): array
             ['parser/parseSetVariable'],
             ['parser/parseSetVariable2'],
             ['parser/parseSetGlobalVariable'],
+            ['parser/parseSetVariableOn'],
         ];
     }
 }
diff --git a/tests/data/parser/parseSetVariableOn.in b/tests/data/parser/parseSetVariableOn.in
new file mode 100644
index 00000000..d38b504c
--- /dev/null
+++ b/tests/data/parser/parseSetVariableOn.in
@@ -0,0 +1 @@
+SET @@sql_log_bin = ON, autocommit = OFF
\ No newline at end of file
diff --git a/tests/data/parser/parseSetVariableOn.out b/tests/data/parser/parseSetVariableOn.out
new file mode 100644
index 00000000..5d63e765
--- /dev/null
+++ b/tests/data/parser/parseSetVariableOn.out
@@ -0,0 +1,192 @@
+{
+    "query": "SET @@sql_log_bin = ON, autocommit = OFF",
+    "lexer": {
+        "@type": "PhpMyAdmin\\SqlParser\\Lexer",
+        "str": "SET @@sql_log_bin = ON, autocommit = OFF",
+        "len": 40,
+        "last": 40,
+        "list": {
+            "@type": "PhpMyAdmin\\SqlParser\\TokensList",
+            "tokens": [
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": "SET",
+                    "value": "SET",
+                    "keyword": "SET",
+                    "type": 1,
+                    "flags": 11,
+                    "position": 0
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": " ",
+                    "value": " ",
+                    "keyword": null,
+                    "type": 3,
+                    "flags": 0,
+                    "position": 3
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": "@@sql_log_bin",
+                    "value": "sql_log_bin",
+                    "keyword": null,
+                    "type": 8,
+                    "flags": 9,
+                    "position": 4
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": " ",
+                    "value": " ",
+                    "keyword": null,
+                    "type": 3,
+                    "flags": 0,
+                    "position": 17
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": "=",
+                    "value": "=",
+                    "keyword": null,
+                    "type": 2,
+                    "flags": 2,
+                    "position": 18
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": " ",
+                    "value": " ",
+                    "keyword": null,
+                    "type": 3,
+                    "flags": 0,
+                    "position": 19
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": "ON",
+                    "value": "ON",
+                    "keyword": "ON",
+                    "type": 1,
+                    "flags": 3,
+                    "position": 20
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": ",",
+                    "value": ",",
+                    "keyword": null,
+                    "type": 2,
+                    "flags": 16,
+                    "position": 22
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": " ",
+                    "value": " ",
+                    "keyword": null,
+                    "type": 3,
+                    "flags": 0,
+                    "position": 23
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": "autocommit",
+                    "value": "autocommit",
+                    "keyword": null,
+                    "type": 0,
+                    "flags": 0,
+                    "position": 24
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": " ",
+                    "value": " ",
+                    "keyword": null,
+                    "type": 3,
+                    "flags": 0,
+                    "position": 34
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": "=",
+                    "value": "=",
+                    "keyword": null,
+                    "type": 2,
+                    "flags": 2,
+                    "position": 35
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": " ",
+                    "value": " ",
+                    "keyword": null,
+                    "type": 3,
+                    "flags": 0,
+                    "position": 36
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": "OFF",
+                    "value": "OFF",
+                    "keyword": null,
+                    "type": 0,
+                    "flags": 0,
+                    "position": 37
+                },
+                {
+                    "@type": "PhpMyAdmin\\SqlParser\\Token",
+                    "token": null,
+                    "value": null,
+                    "keyword": null,
+                    "type": 9,
+                    "flags": 0,
+                    "position": null
+                }
+            ],
+            "count": 15,
+            "idx": 15
+        },
+        "delimiter": ";",
+        "delimiterLen": 1,
+        "strict": false,
+        "errors": []
+    },
+    "parser": {
+        "@type": "PhpMyAdmin\\SqlParser\\Parser",
+        "list": {
+            "@type": "@1"
+        },
+        "statements": [
+            {
+                "@type": "PhpMyAdmin\\SqlParser\\Statements\\SetStatement",
+                "options": {
+                    "@type": "PhpMyAdmin\\SqlParser\\Components\\OptionsArray",
+                    "options": []
+                },
+                "end_options": null,
+                "set": [
+                    {
+                        "@type": "PhpMyAdmin\\SqlParser\\Components\\SetOperation",
+                        "column": "@@sql_log_bin",
+                        "value": "ON"
+                    },
+                    {
+                        "@type": "PhpMyAdmin\\SqlParser\\Components\\SetOperation",
+                        "column": "autocommit",
+                        "value": "OFF"
+                    }
+                ],
+                "first": 0,
+                "last": 13
+            }
+        ],
+        "brackets": 0,
+        "strict": false,
+        "errors": []
+    },
+    "errors": {
+        "lexer": [],
+        "parser": []
+    }
+}
\ No newline at end of file