diff --git a/esphome/components/waveshare_epaper/display.py b/esphome/components/waveshare_epaper/display.py
index fe5b51290e..a9d8350404 100644
--- a/esphome/components/waveshare_epaper/display.py
+++ b/esphome/components/waveshare_epaper/display.py
@@ -50,6 +50,9 @@ WaveshareEPaper7P5InBV2 = waveshare_epaper_ns.class_(
 WaveshareEPaper7P5InV2 = waveshare_epaper_ns.class_(
     "WaveshareEPaper7P5InV2", WaveshareEPaper
 )
+WaveshareEPaper7P5InV2alt = waveshare_epaper_ns.class_(
+    "WaveshareEPaper7P5InV2alt", WaveshareEPaper
+)
 WaveshareEPaper7P5InHDB = waveshare_epaper_ns.class_(
     "WaveshareEPaper7P5InHDB", WaveshareEPaper
 )
@@ -79,6 +82,7 @@ MODELS = {
     "7.50in-bv2": ("b", WaveshareEPaper7P5InBV2),
     "7.50in-bc": ("b", WaveshareEPaper7P5InBC),
     "7.50inv2": ("b", WaveshareEPaper7P5InV2),
+    "7.50inv2alt": ("b", WaveshareEPaper7P5InV2alt),
     "7.50in-hd-b": ("b", WaveshareEPaper7P5InHDB),
     "2.13in-ttgo-dke": ("c", WaveshareEPaper2P13InDKE),
 }
diff --git a/esphome/components/waveshare_epaper/waveshare_epaper.cpp b/esphome/components/waveshare_epaper/waveshare_epaper.cpp
index 59b3e90b03..5580674c34 100644
--- a/esphome/components/waveshare_epaper/waveshare_epaper.cpp
+++ b/esphome/components/waveshare_epaper/waveshare_epaper.cpp
@@ -1137,6 +1137,143 @@ void HOT WaveshareEPaper7P5InV2::display() {
 int WaveshareEPaper7P5InV2::get_width_internal() { return 800; }
 int WaveshareEPaper7P5InV2::get_height_internal() { return 480; }
 void WaveshareEPaper7P5InV2::dump_config() {
+  LOG_DISPLAY("", "Waveshare E-Paper", this);
+  ESP_LOGCONFIG(TAG, "  Model: 7.5inV2rev2");
+  LOG_PIN("  Reset Pin: ", this->reset_pin_);
+  LOG_PIN("  DC Pin: ", this->dc_pin_);
+  LOG_PIN("  Busy Pin: ", this->busy_pin_);
+  LOG_UPDATE_INTERVAL(this);
+}
+
+/* 7.50inV2alt */
+bool WaveshareEPaper7P5InV2alt::wait_until_idle_() {
+  if (this->busy_pin_ == nullptr) {
+    return true;
+  }
+
+  const uint32_t start = millis();
+  while (this->busy_pin_->digital_read()) {
+    this->command(0x71);
+    if (millis() - start > this->idle_timeout_()) {
+      ESP_LOGI(TAG, "Timeout while displaying image!");
+      return false;
+    }
+    delay(10);
+  }
+  return true;
+}
+
+void WaveshareEPaper7P5InV2alt::initialize() {
+  this->reset_();
+
+  // COMMAND POWER SETTING
+  this->command(0x01);
+
+  // 1-0=11: internal power
+  this->data(0x17);
+
+  this->data(0x17);  // VGH&VGL
+  this->data(0x3F);  // VSH
+  this->data(0x3F);  // VSL
+  this->data(0x11);  // VSHR
+
+  // VCOM DC Setting
+  this->command(0x82);
+  this->data(0x24);  // VCOM
+
+  // Booster Setting
+  this->command(0x06);
+  this->data(0x27);
+  this->data(0x27);
+  this->data(0x2F);
+  this->data(0x17);
+
+  // OSC Setting
+  this->command(0x30);
+  this->data(0x06);  // 2-0=100: N=4  ; 5-3=111: M=7  ;  3C=50Hz     3A=100HZ
+
+  // POWER ON
+  this->command(0x04);
+
+  delay(100);  // NOLINT
+  this->wait_until_idle_();
+  // COMMAND PANEL SETTING
+  this->command(0x00);
+  this->data(0x3F);  // KW-3f   KWR-2F BWROTP 0f BWOTP 1f
+
+  // COMMAND RESOLUTION SETTING
+  this->command(0x61);
+  this->data(0x03);  // source 800
+  this->data(0x20);
+  this->data(0x01);  // gate 480
+  this->data(0xE0);
+  // COMMAND ...?
+  this->command(0x15);
+  this->data(0x00);
+  // COMMAND VCOM AND DATA INTERVAL SETTING
+  this->command(0x50);
+  this->data(0x10);
+  this->data(0x07);
+  // COMMAND TCON SETTING
+  this->command(0x60);
+  this->data(0x22);
+  // Resolution setting
+  this->command(0x65);
+  this->data(0x00);
+  this->data(0x00);  // 800*480
+  this->data(0x00);
+  this->data(0x00);
+
+  this->wait_until_idle_();
+
+  uint8_t lut_vcom_7_i_n5_v2[] = {
+      0x0, 0xF, 0xF, 0x0, 0x0, 0x1, 0x0, 0xF, 0x1, 0xF, 0x1, 0x2, 0x0, 0xF, 0xF, 0x0, 0x0, 0x1, 0x0, 0x0, 0x0,
+      0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0,
+  };
+
+  uint8_t lut_ww_7_i_n5_v2[] = {
+      0x10, 0xF, 0xF, 0x0, 0x0, 0x1, 0x84, 0xF, 0x1, 0xF, 0x1, 0x2, 0x20, 0xF, 0xF, 0x0, 0x0, 0x1, 0x0, 0x0, 0x0,
+      0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0,
+  };
+
+  uint8_t lut_bw_7_i_n5_v2[] = {
+      0x10, 0xF, 0xF, 0x0, 0x0, 0x1, 0x84, 0xF, 0x1, 0xF, 0x1, 0x2, 0x20, 0xF, 0xF, 0x0, 0x0, 0x1, 0x0, 0x0, 0x0,
+      0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0,
+  };
+
+  uint8_t lut_wb_7_i_n5_v2[] = {
+      0x80, 0xF, 0xF, 0x0, 0x0, 0x3, 0x84, 0xF, 0x1, 0xF, 0x1, 0x4, 0x40, 0xF, 0xF, 0x0, 0x0, 0x3, 0x0, 0x0, 0x0,
+      0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0,
+  };
+
+  uint8_t lut_bb_7_i_n5_v2[] = {
+      0x80, 0xF, 0xF, 0x0, 0x0, 0x1, 0x84, 0xF, 0x1, 0xF, 0x1, 0x2, 0x40, 0xF, 0xF, 0x0, 0x0, 0x1, 0x0, 0x0, 0x0,
+      0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0,  0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0, 0x0,
+  };
+
+  uint8_t count;
+  this->command(0x20);  // VCOM
+  for (count = 0; count < 42; count++)
+    this->data(lut_vcom_7_i_n5_v2[count]);
+
+  this->command(0x21);  // LUTBW
+  for (count = 0; count < 42; count++)
+    this->data(lut_ww_7_i_n5_v2[count]);
+
+  this->command(0x22);  // LUTBW
+  for (count = 0; count < 42; count++)
+    this->data(lut_bw_7_i_n5_v2[count]);
+
+  this->command(0x23);  // LUTWB
+  for (count = 0; count < 42; count++)
+    this->data(lut_wb_7_i_n5_v2[count]);
+
+  this->command(0x24);  // LUTBB
+  for (count = 0; count < 42; count++)
+    this->data(lut_bb_7_i_n5_v2[count]);
+}
+
+void WaveshareEPaper7P5InV2alt::dump_config() {
   LOG_DISPLAY("", "Waveshare E-Paper", this);
   ESP_LOGCONFIG(TAG, "  Model: 7.5inV2");
   LOG_PIN("  Reset Pin: ", this->reset_pin_);
diff --git a/esphome/components/waveshare_epaper/waveshare_epaper.h b/esphome/components/waveshare_epaper/waveshare_epaper.h
index 41b93978ab..7a88fecbdb 100644
--- a/esphome/components/waveshare_epaper/waveshare_epaper.h
+++ b/esphome/components/waveshare_epaper/waveshare_epaper.h
@@ -350,6 +350,25 @@ class WaveshareEPaper7P5InV2 : public WaveshareEPaper {
   int get_height_internal() override;
 };
 
+class WaveshareEPaper7P5InV2alt : public WaveshareEPaper7P5InV2 {
+ public:
+  bool wait_until_idle_();
+  void initialize() override;
+  void dump_config() override;
+
+ protected:
+  void reset_() {
+    if (this->reset_pin_ != nullptr) {
+      this->reset_pin_->digital_write(true);
+      delay(200);  // NOLINT
+      this->reset_pin_->digital_write(false);
+      delay(2);
+      this->reset_pin_->digital_write(true);
+      delay(20);
+    }
+  };
+};
+
 class WaveshareEPaper7P5InHDB : public WaveshareEPaper {
  public:
   void initialize() override;