diff --git a/esphome/components/graphical_layout/text_panel.cpp b/esphome/components/graphical_layout/text_panel.cpp
index 71c5caec20..47884a4b34 100644
--- a/esphome/components/graphical_layout/text_panel.cpp
+++ b/esphome/components/graphical_layout/text_panel.cpp
@@ -8,6 +8,8 @@ namespace esphome {
 namespace graphical_layout {
 
 static const char *const TAG = "textpanel";
+static const int TEXT_ALIGN_X_MASK = (int)display::TextAlign::RIGHT | (int)display::TextAlign::CENTER_HORIZONTAL;
+static const int TEXT_ALIGN_Y_MASK = (int)display::TextAlign::BOTTOM | (int)display::TextAlign::BASELINE | (int)display::TextAlign::CENTER_VERTICAL;
 
 void TextPanel::dump_config(int indent_depth, int additional_level_depth) {
   ESP_LOGCONFIG(TAG, "%*sText: %s", indent_depth, "", this->text_.c_str());
@@ -18,15 +20,61 @@ display::Rect TextPanel::measure_item_internal(display::Display *display) {
   int y1;
   int width;
   int height;
-
-  display->get_text_bounds(0, 0, this->text_.c_str(), this->font_, display::TextAlign::TOP_LEFT, &x1, &y1, &width,
+  display->get_text_bounds(0, 0, this->text_.c_str(), this->font_, this->text_align_, &x1, &y1, &width,
                            &height);
-
   return display::Rect(0, 0, width, height);
 }
 
 void TextPanel::render_internal(display::Display *display, display::Rect bounds) {
-  display->print(0, 0, this->font_, this->foreground_color_, display::TextAlign::TOP_LEFT, this->text_.c_str());
+  int width, height, x_offset, baseline;
+
+  this->font_->measure(this->text_.c_str(), &width, &x_offset, &baseline, &height);
+  
+  const auto x_align = display::TextAlign(int(this->text_align_) & TEXT_ALIGN_X_MASK);
+  const auto y_align = display::TextAlign(int(this->text_align_) & TEXT_ALIGN_Y_MASK);
+
+  display::Rect text_bounds(0, 0, bounds.w, bounds.h);
+
+  switch (x_align) {
+    case display::TextAlign::RIGHT: {
+        bounds.x = bounds.w - width;
+      break;
+    }
+    case display::TextAlign::CENTER_HORIZONTAL: {
+      bounds.x = (bounds.w - width) / 2;
+      break;
+    }
+    case display::TextAlign::LEFT:
+    default: {
+      // LEFT
+      bounds.x = 0;
+      break;
+    }
+  }
+
+  switch (y_align) {
+    case display::TextAlign::BOTTOM: {
+      bounds.y = bounds.h - height;
+      break;
+    }
+    case display::TextAlign::BASELINE: {
+      bounds.y = (bounds.h  - height) + baseline;
+      break;
+    }
+    case display::TextAlign::CENTER_VERTICAL: {
+      bounds.y = (bounds.h - height) / 2;
+      break;
+    }
+    case display::TextAlign::TOP:
+    default: {
+      bounds.y = 0;
+      break;
+    }
+  }
+
+  auto rendered_alignment = display::TextAlign::TOP_LEFT;
+  display->print(bounds.x, bounds.y, this->font_, this->foreground_color_, rendered_alignment, this->text_.c_str());
+
 }
 
 }  // namespace graphical_layout
diff --git a/esphome/components/graphical_layout/text_panel.h b/esphome/components/graphical_layout/text_panel.h
index 8a5c1e7315..66610630e3 100644
--- a/esphome/components/graphical_layout/text_panel.h
+++ b/esphome/components/graphical_layout/text_panel.h
@@ -23,11 +23,13 @@ class TextPanel : public LayoutItem {
   void set_font(display::BaseFont *font) { this->font_ = font; };
   void set_foreground_color(Color foreground_color) { this->foreground_color_ = foreground_color; };
   void set_background_color(Color background_color) { this->background_color_ = background_color; };
+  void set_text_align(display::TextAlign text_align) { this->text_align_ = text_align; };
 
  protected:
   int item_padding_{0};
   std::string text_{};
   display::BaseFont *font_{nullptr};
+  display::TextAlign text_align_{display::TextAlign::TOP_LEFT};
   Color foreground_color_{COLOR_ON};
   Color background_color_{COLOR_OFF};
 };
diff --git a/esphome/components/graphical_layout/text_panel.py b/esphome/components/graphical_layout/text_panel.py
index 5a22f9d346..f646343a7e 100644
--- a/esphome/components/graphical_layout/text_panel.py
+++ b/esphome/components/graphical_layout/text_panel.py
@@ -1,9 +1,11 @@
 import esphome.codegen as cg
 import esphome.config_validation as cv
 from esphome.components import font, color
+from esphome.components.display import display_ns
 
 graphical_layout_ns = cg.esphome_ns.namespace("graphical_layout")
 TextPanel = graphical_layout_ns.class_("TextPanel")
+TextAlign = display_ns.enum("TextAlign", is_class=True)
 
 CONF_ITEM_PADDING = "item_padding"
 CONF_TEXT_PANEL = "text_panel"
@@ -11,8 +13,24 @@ CONF_FONT = "font"
 CONF_FOREGROUND_COLOR = "foreground_color"
 CONF_BACKGROUND_COLOR = "background_color"
 CONF_TEXT = "text"
+CONF_TEXT_ALIGN = "text_align"
 
 
+TEXT_ALIGN = {
+    "TOP_LEFT": TextAlign.TOP_LEFT,
+    "TOP_CENTER": TextAlign.TOP_CENTER,
+    "TOP_RIGHT": TextAlign.TOP_RIGHT,
+    "CENTER_LEFT": TextAlign.CENTER_LEFT,
+    "CENTER": TextAlign.CENTER,
+    "CENTER_RIGHT": TextAlign.CENTER_RIGHT,
+    "BASELINE_LEFT": TextAlign.BASELINE_LEFT,
+    "BASELINE_CENTER": TextAlign.BASELINE_CENTER,
+    "BASELINE_RIGHT": TextAlign.BASELINE_RIGHT,
+    "BOTTOM_LEFT": TextAlign.BOTTOM_LEFT,
+    "BOTTOM_CENTER": TextAlign.BOTTOM_CENTER,
+    "BOTTOM_RIGHT": TextAlign.BOTTOM_RIGHT,
+}
+
 def get_config_schema(base_item_schema, item_type_schema):
     return base_item_schema.extend(
         {
@@ -22,6 +40,7 @@ def get_config_schema(base_item_schema, item_type_schema):
             cv.Optional(CONF_FOREGROUND_COLOR): cv.use_id(color.ColorStruct),
             cv.Optional(CONF_BACKGROUND_COLOR): cv.use_id(color.ColorStruct),
             cv.Required(CONF_TEXT): cv.templatable(cv.string),
+            cv.Optional(CONF_TEXT_ALIGN): cv.enum(TEXT_ALIGN, upper=True)
         }
     )
 
@@ -46,4 +65,7 @@ async def config_to_layout_item(pvariable_builder, item_config, child_item_build
     text = await cg.templatable(item_config[CONF_TEXT], args=[], output_type=str)
     cg.add(var.set_text(text))
 
+    if text_align := item_config.get(CONF_TEXT_ALIGN):
+        cg.add(var.set_text_align(text_align))
+
     return var