diff --git a/esphome/config_validation.py b/esphome/config_validation.py
index a62c8f2675..8289f56df3 100644
--- a/esphome/config_validation.py
+++ b/esphome/config_validation.py
@@ -1815,6 +1815,8 @@ def one_of(*values, **kwargs):
       - *int* (``bool``, default=False): Whether to convert the incoming values to integers.
       - *float* (``bool``, default=False): Whether to convert the incoming values to floats.
       - *space* (``str``, default=' '): What to convert spaces in the input string to.
+      - *underscore* (``str``, default='_'): What to convert underscores in the input string to.
+      - *hyphen* (``str``, default='-'): What to convert hyphens in the input string to.
     """
     options = ", ".join(f"'{x}'" for x in values)
     lower = kwargs.pop("lower", False)
@@ -1823,8 +1825,11 @@ def one_of(*values, **kwargs):
     to_int = kwargs.pop("int", False)
     to_float = kwargs.pop("float", False)
     space = kwargs.pop("space", " ")
+    underscore = kwargs.pop("underscore", "_")
+    hyphen = kwargs.pop("hyphen", "-")
     if kwargs:
         raise ValueError
+    separators = str.maketrans({" ": space, "_": underscore, "-": hyphen})
 
     @schema_extractor("one_of")
     def validator(value):
@@ -1833,7 +1838,7 @@ def one_of(*values, **kwargs):
 
         if string_:
             value = string(value)
-            value = value.replace(" ", space)
+            value = value.translate(separators)
         if to_int:
             value = int_(value)
         if to_float:
diff --git a/tests/unit_tests/test_config_validation.py b/tests/unit_tests/test_config_validation.py
index 864fbe6475..79bfc303b7 100644
--- a/tests/unit_tests/test_config_validation.py
+++ b/tests/unit_tests/test_config_validation.py
@@ -2428,6 +2428,58 @@ def test_one_of_string_and_space() -> None:
     assert cv.one_of("a_b", string=True, space="_")("a b") == "a_b"
 
 
+def test_one_of_string_and_underscore() -> None:
+    assert cv.one_of("a-b", string=True, underscore="-")("a_b") == "a-b"
+    assert cv.one_of("a-b", string=True, underscore="-")("a-b") == "a-b"
+
+
+def test_one_of_string_lower_space_and_underscore() -> None:
+    validator = cv.one_of("output-mode", lower=True, space="-", underscore="-")
+    assert validator("output_mode") == "output-mode"
+    assert validator("OUTPUT_MODE") == "output-mode"
+    assert validator("output mode") == "output-mode"
+    assert validator("output-mode") == "output-mode"
+
+
+def test_one_of_string_underscore_unknown() -> None:
+    with pytest.raises(Invalid):
+        cv.one_of("a-b", string=True, underscore="-")("c_d")
+
+
+def test_one_of_string_underscore_default_unchanged() -> None:
+    with pytest.raises(Invalid):
+        cv.one_of("a-b", string=True)("a_b")
+
+
+def test_one_of_string_and_hyphen() -> None:
+    assert cv.one_of("a_b", string=True, hyphen="_")("a-b") == "a_b"
+    assert cv.one_of("a_b", string=True, hyphen="_")("a_b") == "a_b"
+
+
+def test_one_of_string_lower_space_and_hyphen() -> None:
+    validator = cv.one_of("output_mode", lower=True, space="_", hyphen="_")
+    assert validator("output-mode") == "output_mode"
+    assert validator("OUTPUT-MODE") == "output_mode"
+    assert validator("output mode") == "output_mode"
+    assert validator("output_mode") == "output_mode"
+
+
+def test_one_of_string_hyphen_unknown() -> None:
+    with pytest.raises(Invalid):
+        cv.one_of("a_b", string=True, hyphen="_")("c-d")
+
+
+def test_one_of_string_hyphen_default_unchanged() -> None:
+    with pytest.raises(Invalid):
+        cv.one_of("a_b", string=True)("a-b")
+
+
+def test_one_of_string_underscore_hyphen_swap_no_cascade() -> None:
+    validator = cv.one_of("a-b", "a_b", string=True, underscore="-", hyphen="_")
+    assert validator("a_b") == "a-b"
+    assert validator("a-b") == "a_b"
+
+
 def test_one_of_int() -> None:
     assert cv.one_of(1, 2, int=True)("2") == 2
 
@@ -2466,6 +2518,20 @@ def test_enum_valid() -> None:
     assert result.enum_value == 10
 
 
+def test_enum_valid_with_underscore() -> None:
+    mapping = {"a-b": 1}
+    result = cv.enum(mapping, string=True, underscore="-")("a_b")
+    assert result == "a-b"
+    assert result.enum_value == 1
+
+
+def test_enum_valid_with_hyphen() -> None:
+    mapping = {"a_b": 1}
+    result = cv.enum(mapping, string=True, hyphen="_")("a-b")
+    assert result == "a_b"
+    assert result.enum_value == 1
+
+
 # ---------------------------------------------------------------------------
 # lambda_ / returning_lambda
 # ---------------------------------------------------------------------------