diff --git a/core/src/components.d.ts b/core/src/components.d.ts
index 55fabe7a3e6..f888b36dca7 100644
--- a/core/src/components.d.ts
+++ b/core/src/components.d.ts
@@ -2698,7 +2698,7 @@ export namespace Components {
          */
         "justify": 'start' | 'end' | 'space-between';
         /**
-          * The visible label associated with the select.
+          * The visible label associated with the select.  Use this if you need to render a plaintext label.  The `label` property will take priority over the `label` slot if both are used.
          */
         "label"?: string;
         /**
@@ -6772,7 +6772,7 @@ declare namespace LocalJSX {
          */
         "justify"?: 'start' | 'end' | 'space-between';
         /**
-          * The visible label associated with the select.
+          * The visible label associated with the select.  Use this if you need to render a plaintext label.  The `label` property will take priority over the `label` slot if both are used.
          */
         "label"?: string;
         /**
diff --git a/core/src/components/select/select.scss b/core/src/components/select/select.scss
index ef32a431950..2128ca099e4 100644
--- a/core/src/components/select/select.scss
+++ b/core/src/components/select/select.scss
@@ -294,7 +294,8 @@ button {
  * works on block-level elements. A flex item is
  * considered blockified (https://www.w3.org/TR/css-display-3/#blockify).
  */
-.label-text {
+.label-text,
+::slotted([slot="label"]) {
   text-overflow: ellipsis;
 
   white-space: nowrap;
@@ -302,6 +303,15 @@ button {
   overflow: hidden;
 }
 
+/**
+ * If no label text is placed into the slot
+ * then the element should be hidden otherwise
+ * there will be additional margins added.
+ */
+.label-text-wrapper-hidden {
+  display: none;
+}
+
 // Select Native Wrapper
 // ----------------------------------------------------------------
 
diff --git a/core/src/components/select/select.tsx b/core/src/components/select/select.tsx
index 5931915cf31..4fb6fe5bdac 100644
--- a/core/src/components/select/select.tsx
+++ b/core/src/components/select/select.tsx
@@ -32,9 +32,12 @@ import type { SelectChangeEventDetail, SelectInterface, SelectCompareFn } from '
 /**
  * @virtualProp {"ios" | "md"} mode - The mode determines which platform styles to use.
  *
+ * @slot label - label - The label text to associate with the select. Use the "labelPlacement" property to control where the label is placed relative to the select. Use this if you need to render a label with custom HTML.
+ *
  * @part placeholder - The text displayed in the select when there is no value.
  * @part text - The displayed value of the select.
  * @part icon - The select icon container.
+ *
  */
 @Component({
   tag: 'ion-select',
@@ -122,6 +125,10 @@ export class Select implements ComponentInterface {
 
   /**
    * The visible label associated with the select.
+   *
+   * Use this if you need to render a plaintext label.
+   *
+   * The `label` property will take priority over the `label` slot if both are used.
    */
   @Prop() label?: string;
 
@@ -566,7 +573,7 @@ export class Select implements ComponentInterface {
      * TODO FW-3194
      * Remove legacyFormController logic.
      * Remove label and labelText vars
-     * Pass `this.label` instead of `labelText`
+     * Pass `this.labelText` instead of `labelText`
      * when setting the header.
      */
     let label: HTMLElement | null;
@@ -576,7 +583,7 @@ export class Select implements ComponentInterface {
       label = this.getLabel();
       labelText = label ? label.textContent : null;
     } else {
-      labelText = this.label;
+      labelText = this.labelText;
     }
 
     const interfaceOptions = this.interfaceOptions;
@@ -649,6 +656,30 @@ export class Select implements ComponentInterface {
     return Array.from(this.el.querySelectorAll('ion-select-option'));
   }
 
+  /**
+   * Returns any plaintext associated with
+   * the label (either prop or slot).
+   * Note: This will not return any custom
+   * HTML. Use the `hasLabel` getter if you
+   * want to know if any slotted label content
+   * was passed.
+   */
+  private get labelText() {
+    const { el, label } = this;
+
+    if (label !== undefined) {
+      return label;
+    }
+
+    const labelSlot = el.querySelector('[slot="label"]');
+
+    if (labelSlot !== null) {
+      return labelSlot.textContent;
+    }
+
+    return;
+  }
+
   private getText(): string {
     const selectedText = this.selectedText;
     if (selectedText != null && selectedText !== '') {
@@ -696,17 +727,29 @@ export class Select implements ComponentInterface {
 
   private renderLabel() {
     const { label } = this;
-    if (label === undefined) {
-      return;
-    }
 
     return (
-      <div class="label-text-wrapper">
-        <div class="label-text">{this.label}</div>
+      <div
+        class={{
+          'label-text-wrapper': true,
+          'label-text-wrapper-hidden': !this.hasLabel,
+        }}
+      >
+        {label === undefined ? <slot name="label"></slot> : <div class="label-text">{label}</div>}
       </div>
     );
   }
 
+  /**
+   * Returns `true` if label content is provided
+   * either by a prop or a content. If you want
+   * to get the plaintext value of the label use
+   * the `labelText` getter instead.
+   */
+  private get hasLabel() {
+    return this.label !== undefined || this.el.querySelector('[slot="label"]') !== null;
+  }
+
   /**
    * Renders the border container
    * when fill="outline".
@@ -902,10 +945,10 @@ Developers can use the "legacy" property to continue using the legacy form marku
   }
 
   private get ariaLabel() {
-    const { placeholder, label, el, inputId, inheritedAttributes } = this;
+    const { placeholder, el, inputId, inheritedAttributes } = this;
     const displayValue = this.getText();
     const { labelText } = getAriaLabel(el, inputId);
-    const definedLabel = label ?? inheritedAttributes['aria-label'] ?? labelText;
+    const definedLabel = this.labelText ?? inheritedAttributes['aria-label'] ?? labelText;
 
     /**
      * If developer has specified a placeholder
diff --git a/core/src/components/select/test/a11y/index.html b/core/src/components/select/test/a11y/index.html
index fd7b9bd55f8..cd859593888 100644
--- a/core/src/components/select/test/a11y/index.html
+++ b/core/src/components/select/test/a11y/index.html
@@ -15,6 +15,7 @@
     <main>
       <h1>Select - a11y</h1>
 
+      <ion-select> <div slot="label">Slotted Label</div> </ion-select><br />
       <ion-select label="My Visible Label"></ion-select><br />
       <ion-select aria-label="My Aria Label"></ion-select><br />
       <ion-select label="My Label" placeholder="Placeholder"></ion-select><br />
diff --git a/core/src/components/select/test/label/select.e2e.ts b/core/src/components/select/test/label/select.e2e.ts
index 1989ffab301..f9c0c570f0a 100644
--- a/core/src/components/select/test/label/select.e2e.ts
+++ b/core/src/components/select/test/label/select.e2e.ts
@@ -267,7 +267,7 @@ configs().forEach(({ title, screenshot, config }) => {
 
 configs({ modes: ['md'], directions: ['ltr'] }).forEach(({ title, screenshot, config }) => {
   test.describe(title('select: label overflow'), () => {
-    test('label should be truncated with ellipses', async ({ page }) => {
+    test('label property should be truncated with ellipses', async ({ page }) => {
       await page.setContent(
         `
             <ion-select label="Label Label Label Label Label" placeholder="Select an Item"></ion-select>
@@ -278,11 +278,24 @@ configs({ modes: ['md'], directions: ['ltr'] }).forEach(({ title, screenshot, co
       const select = page.locator('ion-select');
       expect(await select.screenshot()).toMatchSnapshot(screenshot(`select-label-truncate`));
     });
+    test('label slot should be truncated with ellipses', async ({ page }) => {
+      await page.setContent(
+        `
+            <ion-select placeholder="Select an Item">
+              <div slot="label">Label Label Label Label Label</div>
+            </ion-select>
+          `,
+        config
+      );
+
+      const select = page.locator('ion-select');
+      expect(await select.screenshot()).toMatchSnapshot(screenshot(`select-label-slot-truncate`));
+    });
   });
 });
 configs({ modes: ['ios'], directions: ['ltr'] }).forEach(({ title, config }) => {
   test.describe(title('select: alert label'), () => {
-    test('should use the label to set the default header in an alert', async ({ page }) => {
+    test('should use the label prop to set the default header in an alert', async ({ page }) => {
       await page.setContent(
         `
          <ion-select label="My Alert" interface="alert">
@@ -301,5 +314,47 @@ configs({ modes: ['ios'], directions: ['ltr'] }).forEach(({ title, config }) =>
 
       await expect(alert.locator('.alert-title')).toHaveText('My Alert');
     });
+    test('should use the label slot to set the default header in an alert', async ({ page }) => {
+      await page.setContent(
+        `
+         <ion-select interface="alert">
+            <div slot="label">My Alert</div>
+           <ion-select-option value="a">A</ion-select-option>
+         </ion-select>
+       `,
+        config
+      );
+
+      const select = page.locator('ion-select');
+      const alert = page.locator('ion-alert');
+      const ionAlertDidPresent = await page.spyOnEvent('ionAlertDidPresent');
+
+      await select.click();
+      await ionAlertDidPresent.next();
+
+      await expect(alert.locator('.alert-title')).toHaveText('My Alert');
+    });
+    test('should use the label prop to set the default header in an alert if both prop and slot are set', async ({
+      page,
+    }) => {
+      await page.setContent(
+        `
+         <ion-select label="My Prop Alert" interface="alert">
+            <div slot="label">My Slot Alert</div>
+           <ion-select-option value="a">A</ion-select-option>
+         </ion-select>
+       `,
+        config
+      );
+
+      const select = page.locator('ion-select');
+      const alert = page.locator('ion-alert');
+      const ionAlertDidPresent = await page.spyOnEvent('ionAlertDidPresent');
+
+      await select.click();
+      await ionAlertDidPresent.next();
+
+      await expect(alert.locator('.alert-title')).toHaveText('My Prop Alert');
+    });
   });
 });
diff --git a/core/src/components/select/test/label/select.e2e.ts-snapshots/select-label-slot-truncate-md-ltr-Mobile-Chrome-linux.png b/core/src/components/select/test/label/select.e2e.ts-snapshots/select-label-slot-truncate-md-ltr-Mobile-Chrome-linux.png
new file mode 100644
index 00000000000..5acafac7d00
Binary files /dev/null and b/core/src/components/select/test/label/select.e2e.ts-snapshots/select-label-slot-truncate-md-ltr-Mobile-Chrome-linux.png differ
diff --git a/core/src/components/select/test/label/select.e2e.ts-snapshots/select-label-slot-truncate-md-ltr-Mobile-Firefox-linux.png b/core/src/components/select/test/label/select.e2e.ts-snapshots/select-label-slot-truncate-md-ltr-Mobile-Firefox-linux.png
new file mode 100644
index 00000000000..6d9f6a7c909
Binary files /dev/null and b/core/src/components/select/test/label/select.e2e.ts-snapshots/select-label-slot-truncate-md-ltr-Mobile-Firefox-linux.png differ
diff --git a/core/src/components/select/test/label/select.e2e.ts-snapshots/select-label-slot-truncate-md-ltr-Mobile-Safari-linux.png b/core/src/components/select/test/label/select.e2e.ts-snapshots/select-label-slot-truncate-md-ltr-Mobile-Safari-linux.png
new file mode 100644
index 00000000000..60b208fee5e
Binary files /dev/null and b/core/src/components/select/test/label/select.e2e.ts-snapshots/select-label-slot-truncate-md-ltr-Mobile-Safari-linux.png differ
diff --git a/core/src/components/select/test/select.spec.tsx b/core/src/components/select/test/select.spec.tsx
new file mode 100644
index 00000000000..b2fee23d211
--- /dev/null
+++ b/core/src/components/select/test/select.spec.tsx
@@ -0,0 +1,54 @@
+import { newSpecPage } from '@stencil/core/testing';
+
+import { Select } from '../select';
+
+describe('ion-select', () => {
+  it('should render label prop if only prop provided', async () => {
+    const page = await newSpecPage({
+      components: [Select],
+      html: `
+        <ion-select label="Label Prop Text"></ion-select>
+      `,
+    });
+
+    const select = page.body.querySelector('ion-select');
+
+    const propEl = select.shadowRoot.querySelector('.label-text');
+    const slotEl = select.shadowRoot.querySelector('slot[name="label"]');
+
+    expect(propEl).not.toBe(null);
+    expect(slotEl).toBe(null);
+  });
+  it('should render label slot if only slot provided', async () => {
+    const page = await newSpecPage({
+      components: [Select],
+      html: `
+        <ion-select><div slot="label">Label Prop Slot</div></ion-select>
+      `,
+    });
+
+    const select = page.body.querySelector('ion-select');
+
+    const propEl = select.shadowRoot.querySelector('.label-text');
+    const slotEl = select.shadowRoot.querySelector('slot[name="label"]');
+
+    expect(propEl).toBe(null);
+    expect(slotEl).not.toBe(null);
+  });
+  it('should render label prop if both prop and slot provided', async () => {
+    const page = await newSpecPage({
+      components: [Select],
+      html: `
+        <ion-select label="Label Prop Text"><div slot="label">Label Prop Slot</div></ion-select>
+      `,
+    });
+
+    const select = page.body.querySelector('ion-select');
+
+    const propEl = select.shadowRoot.querySelector('.label-text');
+    const slotEl = select.shadowRoot.querySelector('slot[name="label"]');
+
+    expect(propEl).not.toBe(null);
+    expect(slotEl).toBe(null);
+  });
+});