diff --git a/esphome/components/modbus_controller/__init__.py b/esphome/components/modbus_controller/__init__.py
index 488baa245a..5c407d6fff 100644
--- a/esphome/components/modbus_controller/__init__.py
+++ b/esphome/components/modbus_controller/__init__.py
@@ -25,6 +25,8 @@ from .const import (
     CONF_MODBUS_CONTROLLER_ID,
     CONF_OFFLINE_SKIP_UPDATES,
     CONF_ON_COMMAND_SENT,
+    CONF_ON_ONLINE,
+    CONF_ON_OFFLINE,
     CONF_REGISTER_COUNT,
     CONF_REGISTER_TYPE,
     CONF_RESPONSE_SIZE,
@@ -114,6 +116,14 @@ ModbusCommandSentTrigger = modbus_controller_ns.class_(
     "ModbusCommandSentTrigger", automation.Trigger.template(cg.int_, cg.int_)
 )
 
+ModbusOnlineTrigger = modbus_controller_ns.class_(
+    "ModbusOnlineTrigger", automation.Trigger.template(cg.int_, cg.int_)
+)
+
+ModbusOfflineTrigger = modbus_controller_ns.class_(
+    "ModbusOfflineTrigger", automation.Trigger.template(cg.int_, cg.int_)
+)
+
 _LOGGER = logging.getLogger(__name__)
 
 ModbusServerRegisterSchema = cv.Schema(
@@ -146,6 +156,16 @@ CONFIG_SCHEMA = cv.All(
                     ),
                 }
             ),
+            cv.Optional(CONF_ON_ONLINE): automation.validate_automation(
+                {
+                    cv.GenerateID(CONF_TRIGGER_ID): cv.declare_id(ModbusOnlineTrigger),
+                }
+            ),
+            cv.Optional(CONF_ON_OFFLINE): automation.validate_automation(
+                {
+                    cv.GenerateID(CONF_TRIGGER_ID): cv.declare_id(ModbusOnlineTrigger),
+                }
+            ),
         }
     )
     .extend(cv.polling_component_schema("60s"))
@@ -284,7 +304,17 @@ async def to_code(config):
     for conf in config.get(CONF_ON_COMMAND_SENT, []):
         trigger = cg.new_Pvariable(conf[CONF_TRIGGER_ID], var)
         await automation.build_automation(
-            trigger, [(int, "function_code"), (int, "address")], conf
+            trigger, [(cg.int_, "function_code"), (cg.int_, "address")], conf
+        )
+    for conf in config.get(CONF_ON_ONLINE, []):
+        trigger = cg.new_Pvariable(conf[CONF_TRIGGER_ID], var)
+        await automation.build_automation(
+            trigger, [(cg.int_, "function_code"), (cg.int_, "address")], conf
+        )
+    for conf in config.get(CONF_ON_OFFLINE, []):
+        trigger = cg.new_Pvariable(conf[CONF_TRIGGER_ID], var)
+        await automation.build_automation(
+            trigger, [(cg.int_, "function_code"), (cg.int_, "address")], conf
         )
 
 
diff --git a/esphome/components/modbus_controller/automation.h b/esphome/components/modbus_controller/automation.h
index ad8de4b05d..b3338192cc 100644
--- a/esphome/components/modbus_controller/automation.h
+++ b/esphome/components/modbus_controller/automation.h
@@ -15,5 +15,21 @@ class ModbusCommandSentTrigger : public Trigger<int, int> {
   }
 };
 
+class ModbusOnlineTrigger : public Trigger<int, int> {
+ public:
+  ModbusOnlineTrigger(ModbusController *a_modbuscontroller) {
+    a_modbuscontroller->add_on_online_callback(
+        [this](int function_code, int address) { this->trigger(function_code, address); });
+  }
+};
+
+class ModbusOfflineTrigger : public Trigger<int, int> {
+ public:
+  ModbusOfflineTrigger(ModbusController *a_modbuscontroller) {
+    a_modbuscontroller->add_on_offline_callback(
+        [this](int function_code, int address) { this->trigger(function_code, address); });
+  }
+};
+
 }  // namespace modbus_controller
 }  // namespace esphome
diff --git a/esphome/components/modbus_controller/const.py b/esphome/components/modbus_controller/const.py
index 5cf7d230f1..4d39e48dcd 100644
--- a/esphome/components/modbus_controller/const.py
+++ b/esphome/components/modbus_controller/const.py
@@ -9,6 +9,8 @@ CONF_MAX_CMD_RETRIES = "max_cmd_retries"
 CONF_MODBUS_CONTROLLER_ID = "modbus_controller_id"
 CONF_MODBUS_FUNCTIONCODE = "modbus_functioncode"
 CONF_ON_COMMAND_SENT = "on_command_sent"
+CONF_ON_ONLINE = "on_online"
+CONF_ON_OFFLINE = "on_offline"
 CONF_RAW_ENCODE = "raw_encode"
 CONF_REGISTER_COUNT = "register_count"
 CONF_REGISTER_TYPE = "register_type"
diff --git a/esphome/components/modbus_controller/modbus_controller.cpp b/esphome/components/modbus_controller/modbus_controller.cpp
index 1dcb533629..e1102516ca 100644
--- a/esphome/components/modbus_controller/modbus_controller.cpp
+++ b/esphome/components/modbus_controller/modbus_controller.cpp
@@ -32,8 +32,10 @@ bool ModbusController::send_next_command_() {
             r.skip_updates_counter = this->offline_skip_updates_;
           }
         }
+
+        this->module_offline_ = true;
+        this->offline_callback_.call((int) command->function_code, command->register_address);
       }
-      this->module_offline_ = true;
       ESP_LOGD(TAG, "Modbus command to device=%d register=0x%02X no response received - removed from send queue",
                this->address_, command->register_address);
       this->command_queue_.pop_front();
@@ -68,8 +70,10 @@ void ModbusController::on_modbus_data(const std::vector<uint8_t> &data) {
           r.skip_updates_counter = 0;
         }
       }
+      // Restore module online state
+      this->module_offline_ = false;
+      this->online_callback_.call((int) current_command->function_code, current_command->register_address);
     }
-    this->module_offline_ = false;
 
     // Move the commandItem to the response queue
     current_command->payload = data;
@@ -670,5 +674,13 @@ void ModbusController::add_on_command_sent_callback(std::function<void(int, int)
   this->command_sent_callback_.add(std::move(callback));
 }
 
+void ModbusController::add_on_online_callback(std::function<void(int, int)> &&callback) {
+  this->online_callback_.add(std::move(callback));
+}
+
+void ModbusController::add_on_offline_callback(std::function<void(int, int)> &&callback) {
+  this->offline_callback_.add(std::move(callback));
+}
+
 }  // namespace modbus_controller
 }  // namespace esphome
diff --git a/esphome/components/modbus_controller/modbus_controller.h b/esphome/components/modbus_controller/modbus_controller.h
index 1fa35e1535..2a0b936bf5 100644
--- a/esphome/components/modbus_controller/modbus_controller.h
+++ b/esphome/components/modbus_controller/modbus_controller.h
@@ -468,6 +468,10 @@ class ModbusController : public PollingComponent, public modbus::ModbusDevice {
   bool get_module_offline() { return module_offline_; }
   /// Set callback for commands
   void add_on_command_sent_callback(std::function<void(int, int)> &&callback);
+  /// Set callback for online changes
+  void add_on_online_callback(std::function<void(int, int)> &&callback);
+  /// Set callback for offline changes
+  void add_on_offline_callback(std::function<void(int, int)> &&callback);
   /// called by esphome generated code to set the max_cmd_retries.
   void set_max_cmd_retries(uint8_t max_cmd_retries) { this->max_cmd_retries_ = max_cmd_retries; }
   /// get how many times a command will be (re)sent if no response is received
@@ -508,7 +512,12 @@ class ModbusController : public PollingComponent, public modbus::ModbusDevice {
   uint16_t offline_skip_updates_;
   /// How many times we will retry a command if we get no response
   uint8_t max_cmd_retries_{4};
+  /// Command sent callback
   CallbackManager<void(int, int)> command_sent_callback_{};
+  /// Server online callback
+  CallbackManager<void(int, int)> online_callback_{};
+  /// Server offline callback
+  CallbackManager<void(int, int)> offline_callback_{};
 };
 
 /** Convert vector<uint8_t> response payload to float.
diff --git a/tests/components/modbus_controller/test.esp32-ard.yaml b/tests/components/modbus_controller/test.esp32-ard.yaml
index cd95d149cb..f5c5c10125 100644
--- a/tests/components/modbus_controller/test.esp32-ard.yaml
+++ b/tests/components/modbus_controller/test.esp32-ard.yaml
@@ -21,6 +21,9 @@ modbus_controller:
     address: 0x2
     modbus_id: mod_bus1
     allow_duplicate_commands: false
+    on_online:
+      then:
+        logger.log: "Module Online"
   - id: modbus_controller2
     address: 0x2
     modbus_id: mod_bus2
diff --git a/tests/components/modbus_controller/test.esp32-idf.yaml b/tests/components/modbus_controller/test.esp32-idf.yaml
index ba28e94d73..0e1849dd88 100644
--- a/tests/components/modbus_controller/test.esp32-idf.yaml
+++ b/tests/components/modbus_controller/test.esp32-idf.yaml
@@ -13,4 +13,7 @@ modbus_controller:
     address: 0x2
     modbus_id: mod_bus1
     allow_duplicate_commands: true
+    on_offline:
+      then:
+        logger.log: "Module Offline"
     max_cmd_retries: 10