diff --git a/esphome/components/template/number/__init__.py b/esphome/components/template/number/__init__.py
index 557a01c6fa..22bbaacc15 100644
--- a/esphome/components/template/number/__init__.py
+++ b/esphome/components/template/number/__init__.py
@@ -9,6 +9,7 @@ from esphome.const import (
     CONF_MAX_VALUE,
     CONF_MIN_VALUE,
     CONF_OPTIMISTIC,
+    CONF_RESTORE_VALUE,
     CONF_STEP,
 )
 from .. import template_ns
@@ -26,6 +27,17 @@ def validate_min_max(config):
     return config
 
 
+def validate(config):
+    if CONF_LAMBDA in config:
+        if CONF_OPTIMISTIC in config:
+            raise cv.Invalid("optimistic cannot be used with lambda")
+        if CONF_INITIAL_VALUE in config:
+            raise cv.Invalid("initial_value cannot be used with lambda")
+        if CONF_RESTORE_VALUE in config:
+            raise cv.Invalid("restore_value cannot be used with lambda")
+    return config
+
+
 CONFIG_SCHEMA = cv.All(
     number.NUMBER_SCHEMA.extend(
         {
@@ -33,13 +45,15 @@ CONFIG_SCHEMA = cv.All(
             cv.Required(CONF_MAX_VALUE): cv.float_,
             cv.Required(CONF_MIN_VALUE): cv.float_,
             cv.Required(CONF_STEP): cv.positive_float,
-            cv.Exclusive(CONF_LAMBDA, "lambda-optimistic"): cv.returning_lambda,
-            cv.Exclusive(CONF_OPTIMISTIC, "lambda-optimistic"): cv.boolean,
+            cv.Optional(CONF_LAMBDA): cv.returning_lambda,
+            cv.Optional(CONF_OPTIMISTIC): cv.boolean,
             cv.Optional(CONF_SET_ACTION): automation.validate_automation(single=True),
             cv.Optional(CONF_INITIAL_VALUE): cv.float_,
+            cv.Optional(CONF_RESTORE_VALUE): cv.boolean,
         }
     ).extend(cv.polling_component_schema("60s")),
     validate_min_max,
+    validate,
 )
 
 
@@ -60,13 +74,15 @@ async def to_code(config):
         )
         cg.add(var.set_template(template_))
 
-    elif CONF_OPTIMISTIC in config:
-        cg.add(var.set_optimistic(config[CONF_OPTIMISTIC]))
+    else:
+        if CONF_OPTIMISTIC in config:
+            cg.add(var.set_optimistic(config[CONF_OPTIMISTIC]))
+        if CONF_INITIAL_VALUE in config:
+            cg.add(var.set_initial_value(config[CONF_INITIAL_VALUE]))
+        if CONF_RESTORE_VALUE in config:
+            cg.add(var.set_restore_value(config[CONF_RESTORE_VALUE]))
 
     if CONF_SET_ACTION in config:
         await automation.build_automation(
             var.get_set_trigger(), [(float, "x")], config[CONF_SET_ACTION]
         )
-
-    if CONF_INITIAL_VALUE in config:
-        cg.add(var.set_initial_value(config[CONF_INITIAL_VALUE]))
diff --git a/esphome/components/template/number/template_number.cpp b/esphome/components/template/number/template_number.cpp
index 500f9f2272..eb9b17b976 100644
--- a/esphome/components/template/number/template_number.cpp
+++ b/esphome/components/template/number/template_number.cpp
@@ -7,16 +7,20 @@ namespace template_ {
 static const char *const TAG = "template.number";
 
 void TemplateNumber::setup() {
-  if (this->f_.has_value() || !this->optimistic_)
+  if (this->f_.has_value())
     return;
 
-  this->pref_ = global_preferences.make_preference<float>(this->get_object_id_hash());
   float value;
-  if (!this->pref_.load(&value)) {
-    if (!isnan(this->initial_value_))
-      value = this->initial_value_;
-    else
-      value = this->traits.get_min_value();
+  if (!this->restore_value_) {
+    value = this->initial_value_;
+  } else {
+    this->pref_ = global_preferences.make_preference<float>(this->get_object_id_hash());
+    if (!this->pref_.load(&value)) {
+      if (!isnan(this->initial_value_))
+        value = this->initial_value_;
+      else
+        value = this->traits.get_min_value();
+    }
   }
   this->publish_state(value);
 }
@@ -35,10 +39,11 @@ void TemplateNumber::update() {
 void TemplateNumber::control(float value) {
   this->set_trigger_->trigger(value);
 
-  if (this->optimistic_) {
+  if (this->optimistic_)
     this->publish_state(value);
+
+  if (this->restore_value_)
     this->pref_.save(&value);
-  }
 }
 void TemplateNumber::dump_config() {
   LOG_NUMBER("", "Template Number", this);
diff --git a/esphome/components/template/number/template_number.h b/esphome/components/template/number/template_number.h
index 50cd256b7f..9a82e44339 100644
--- a/esphome/components/template/number/template_number.h
+++ b/esphome/components/template/number/template_number.h
@@ -20,11 +20,13 @@ class TemplateNumber : public number::Number, public PollingComponent {
   Trigger<float> *get_set_trigger() const { return set_trigger_; }
   void set_optimistic(bool optimistic) { optimistic_ = optimistic; }
   void set_initial_value(float initial_value) { initial_value_ = initial_value; }
+  void set_restore_value(bool restore_value) { this->restore_value_ = restore_value; }
 
  protected:
   void control(float value) override;
   bool optimistic_{false};
   float initial_value_{NAN};
+  bool restore_value_{false};
   Trigger<float> *set_trigger_ = new Trigger<float>();
   optional<std::function<optional<float>()>> f_;