diff --git a/CODEOWNERS b/CODEOWNERS
index 4065e52c2c..c582728e76 100644
--- a/CODEOWNERS
+++ b/CODEOWNERS
@@ -562,6 +562,7 @@ esphome/components/template/datetime/* @rfdarter
 esphome/components/template/event/* @nohat
 esphome/components/template/fan/* @ssieb
 esphome/components/text/* @mauritskorse
+esphome/components/tfluna/* @candrews
 esphome/components/thermopro_ble/* @sittner
 esphome/components/thermostat/* @kbx81
 esphome/components/time/* @esphome/core
diff --git a/esphome/components/tfluna/__init__.py b/esphome/components/tfluna/__init__.py
new file mode 100644
index 0000000000..6ba821b1ab
--- /dev/null
+++ b/esphome/components/tfluna/__init__.py
@@ -0,0 +1,34 @@
+import esphome.codegen as cg
+from esphome.components import i2c
+import esphome.config_validation as cv
+from esphome.const import CONF_ID
+from esphome.types import ConfigType
+
+CODEOWNERS = ["@candrews"]
+DEPENDENCIES = ["i2c"]
+MULTI_CONF = True
+
+tfluna_ns = cg.esphome_ns.namespace("tfluna")
+
+TFLunaComponent = tfluna_ns.class_("TFLuna", cg.PollingComponent, i2c.I2CDevice)
+
+CONF_TFLUNA_ID = "tfluna_id"
+CONF_TIMESTAMP = "timestamp"
+
+FACTORY_DEFAULT_ADDRESS = 0x10
+
+CONFIG_SCHEMA = (
+    cv.Schema(
+        {
+            cv.GenerateID(): cv.declare_id(TFLunaComponent),
+        }
+    )
+    .extend(cv.polling_component_schema("1s"))
+    .extend(i2c.i2c_device_schema(FACTORY_DEFAULT_ADDRESS))
+)
+
+
+async def to_code(config: ConfigType) -> None:
+    var = cg.new_Pvariable(config[CONF_ID])
+    await cg.register_component(var, config)
+    await i2c.register_i2c_device(var, config)
diff --git a/esphome/components/tfluna/button/__init__.py b/esphome/components/tfluna/button/__init__.py
new file mode 100644
index 0000000000..deb2ba8ffb
--- /dev/null
+++ b/esphome/components/tfluna/button/__init__.py
@@ -0,0 +1,72 @@
+import esphome.codegen as cg
+from esphome.components import button
+import esphome.config_validation as cv
+from esphome.const import (
+    CONF_ADDRESS,
+    CONF_FACTORY_RESET,
+    CONF_RESTART,
+    DEVICE_CLASS_RESTART,
+    ENTITY_CATEGORY_CONFIG,
+    ENTITY_CATEGORY_DIAGNOSTIC,
+    ICON_RESTART,
+    ICON_RESTART_ALERT,
+)
+import esphome.final_validate as fv
+from esphome.types import ConfigType
+
+from .. import CONF_TFLUNA_ID, FACTORY_DEFAULT_ADDRESS, TFLunaComponent, tfluna_ns
+
+DEPENDENCIES = ["tfluna"]
+
+ResetButton = tfluna_ns.class_("ResetButton", button.Button)
+RestartButton = tfluna_ns.class_("RestartButton", button.Button)
+
+CONFIG_SCHEMA = {
+    cv.GenerateID(CONF_TFLUNA_ID): cv.use_id(TFLunaComponent),
+    cv.Optional(CONF_FACTORY_RESET): button.button_schema(
+        ResetButton,
+        device_class=DEVICE_CLASS_RESTART,
+        entity_category=ENTITY_CATEGORY_CONFIG,
+        icon=ICON_RESTART_ALERT,
+    ),
+    cv.Optional(CONF_RESTART): button.button_schema(
+        RestartButton,
+        device_class=DEVICE_CLASS_RESTART,
+        entity_category=ENTITY_CATEGORY_DIAGNOSTIC,
+        icon=ICON_RESTART,
+    ),
+}
+
+
+def _validate_factory_default_address(config: ConfigType) -> ConfigType:
+    if config.get(CONF_ADDRESS) != FACTORY_DEFAULT_ADDRESS:
+        raise cv.Invalid(
+            f"'{CONF_FACTORY_RESET}' requires the TF-Luna to use its factory default "
+            f"I2C address 0x{FACTORY_DEFAULT_ADDRESS:02X}, as a factory reset "
+            "restores that address",
+            path=[CONF_ADDRESS],
+        )
+    return config
+
+
+def _final_validate(config: ConfigType) -> ConfigType:
+    if CONF_FACTORY_RESET in config:
+        fv.id_declaration_match_schema(_validate_factory_default_address)(
+            config[CONF_TFLUNA_ID]
+        )
+    return config
+
+
+FINAL_VALIDATE_SCHEMA = _final_validate
+
+
+async def to_code(config: ConfigType) -> None:
+    tfluna_component = await cg.get_variable(config[CONF_TFLUNA_ID])
+    if factory_reset_config := config.get(CONF_FACTORY_RESET):
+        b = await button.new_button(factory_reset_config)
+        await cg.register_parented(b, config[CONF_TFLUNA_ID])
+        cg.add(tfluna_component.set_reset_button(b))
+    if restart_config := config.get(CONF_RESTART):
+        b = await button.new_button(restart_config)
+        await cg.register_parented(b, config[CONF_TFLUNA_ID])
+        cg.add(tfluna_component.set_restart_button(b))
diff --git a/esphome/components/tfluna/button/reset_button.cpp b/esphome/components/tfluna/button/reset_button.cpp
new file mode 100644
index 0000000000..b973f66864
--- /dev/null
+++ b/esphome/components/tfluna/button/reset_button.cpp
@@ -0,0 +1,7 @@
+#include "reset_button.h"
+
+namespace esphome::tfluna {
+
+void ResetButton::press_action() { this->parent_->factory_reset(); }
+
+}  // namespace esphome::tfluna
diff --git a/esphome/components/tfluna/button/reset_button.h b/esphome/components/tfluna/button/reset_button.h
new file mode 100644
index 0000000000..a52f479eea
--- /dev/null
+++ b/esphome/components/tfluna/button/reset_button.h
@@ -0,0 +1,13 @@
+#pragma once
+
+#include "esphome/components/button/button.h"
+#include "../tfluna.h"
+
+namespace esphome::tfluna {
+
+class ResetButton : public button::Button, public Parented<TFLuna> {
+ protected:
+  void press_action() override;
+};
+
+}  // namespace esphome::tfluna
diff --git a/esphome/components/tfluna/button/restart_button.cpp b/esphome/components/tfluna/button/restart_button.cpp
new file mode 100644
index 0000000000..546be2742d
--- /dev/null
+++ b/esphome/components/tfluna/button/restart_button.cpp
@@ -0,0 +1,7 @@
+#include "restart_button.h"
+
+namespace esphome::tfluna {
+
+void RestartButton::press_action() { this->parent_->restart(); }
+
+}  // namespace esphome::tfluna
diff --git a/esphome/components/tfluna/button/restart_button.h b/esphome/components/tfluna/button/restart_button.h
new file mode 100644
index 0000000000..7caaebe6b3
--- /dev/null
+++ b/esphome/components/tfluna/button/restart_button.h
@@ -0,0 +1,13 @@
+#pragma once
+
+#include "esphome/components/button/button.h"
+#include "../tfluna.h"
+
+namespace esphome::tfluna {
+
+class RestartButton : public button::Button, public Parented<TFLuna> {
+ protected:
+  void press_action() override;
+};
+
+}  // namespace esphome::tfluna
diff --git a/esphome/components/tfluna/sensor.py b/esphome/components/tfluna/sensor.py
new file mode 100644
index 0000000000..d101d12ae0
--- /dev/null
+++ b/esphome/components/tfluna/sensor.py
@@ -0,0 +1,75 @@
+import esphome.codegen as cg
+from esphome.components import sensor
+import esphome.config_validation as cv
+from esphome.const import (
+    CONF_DISTANCE,
+    CONF_SIGNAL_STRENGTH,
+    CONF_TEMPERATURE,
+    DEVICE_CLASS_DISTANCE,
+    DEVICE_CLASS_DURATION,
+    DEVICE_CLASS_SIGNAL_STRENGTH,
+    DEVICE_CLASS_TEMPERATURE,
+    ENTITY_CATEGORY_DIAGNOSTIC,
+    ICON_ARROW_EXPAND_VERTICAL,
+    ICON_SIGNAL,
+    ICON_THERMOMETER,
+    ICON_TIMER,
+    STATE_CLASS_MEASUREMENT,
+    UNIT_CELSIUS,
+    UNIT_CENTIMETER,
+    UNIT_MILLISECOND,
+)
+from esphome.types import ConfigType
+
+from . import CONF_TFLUNA_ID, CONF_TIMESTAMP, TFLunaComponent
+
+DEPENDENCIES = ["tfluna"]
+
+CONFIG_SCHEMA = {
+    cv.GenerateID(CONF_TFLUNA_ID): cv.use_id(TFLunaComponent),
+    cv.Optional(CONF_DISTANCE): sensor.sensor_schema(
+        unit_of_measurement=UNIT_CENTIMETER,
+        icon=ICON_ARROW_EXPAND_VERTICAL,
+        accuracy_decimals=0,
+        device_class=DEVICE_CLASS_DISTANCE,
+        state_class=STATE_CLASS_MEASUREMENT,
+    ),
+    cv.Optional(CONF_TEMPERATURE): sensor.sensor_schema(
+        unit_of_measurement=UNIT_CELSIUS,
+        icon=ICON_THERMOMETER,
+        accuracy_decimals=2,
+        device_class=DEVICE_CLASS_TEMPERATURE,
+        state_class=STATE_CLASS_MEASUREMENT,
+        entity_category=ENTITY_CATEGORY_DIAGNOSTIC,
+    ),
+    cv.Optional(CONF_SIGNAL_STRENGTH): sensor.sensor_schema(
+        icon=ICON_SIGNAL,
+        accuracy_decimals=0,
+        device_class=DEVICE_CLASS_SIGNAL_STRENGTH,
+        state_class=STATE_CLASS_MEASUREMENT,
+        entity_category=ENTITY_CATEGORY_DIAGNOSTIC,
+    ),
+    cv.Optional(CONF_TIMESTAMP): sensor.sensor_schema(
+        icon=ICON_TIMER,
+        accuracy_decimals=0,
+        unit_of_measurement=UNIT_MILLISECOND,
+        device_class=DEVICE_CLASS_DURATION,
+        entity_category=ENTITY_CATEGORY_DIAGNOSTIC,
+    ),
+}
+
+
+async def to_code(config: ConfigType) -> None:
+    tfluna_component = await cg.get_variable(config[CONF_TFLUNA_ID])
+    if distance_config := config.get(CONF_DISTANCE):
+        sens = await sensor.new_sensor(distance_config)
+        cg.add(tfluna_component.set_distance_sensor(sens))
+    if temperature_config := config.get(CONF_TEMPERATURE):
+        sens = await sensor.new_sensor(temperature_config)
+        cg.add(tfluna_component.set_temperature_sensor(sens))
+    if signal_strength_config := config.get(CONF_SIGNAL_STRENGTH):
+        sens = await sensor.new_sensor(signal_strength_config)
+        cg.add(tfluna_component.set_signal_strength_sensor(sens))
+    if timestamp_config := config.get(CONF_TIMESTAMP):
+        sens = await sensor.new_sensor(timestamp_config)
+        cg.add(tfluna_component.set_timestamp_sensor(sens))
diff --git a/esphome/components/tfluna/text_sensor.py b/esphome/components/tfluna/text_sensor.py
new file mode 100644
index 0000000000..6bce14252b
--- /dev/null
+++ b/esphome/components/tfluna/text_sensor.py
@@ -0,0 +1,23 @@
+import esphome.codegen as cg
+from esphome.components import text_sensor
+import esphome.config_validation as cv
+from esphome.const import CONF_VERSION, ENTITY_CATEGORY_DIAGNOSTIC, ICON_CHIP
+from esphome.types import ConfigType
+
+from . import CONF_TFLUNA_ID, TFLunaComponent
+
+DEPENDENCIES = ["tfluna"]
+
+CONFIG_SCHEMA = {
+    cv.GenerateID(CONF_TFLUNA_ID): cv.use_id(TFLunaComponent),
+    cv.Optional(CONF_VERSION): text_sensor.text_sensor_schema(
+        entity_category=ENTITY_CATEGORY_DIAGNOSTIC, icon=ICON_CHIP
+    ),
+}
+
+
+async def to_code(config: ConfigType) -> None:
+    tfluna_component = await cg.get_variable(config[CONF_TFLUNA_ID])
+    if version_config := config.get(CONF_VERSION):
+        sens = await text_sensor.new_text_sensor(version_config)
+        cg.add(tfluna_component.set_version_text_sensor(sens))
diff --git a/esphome/components/tfluna/tfluna.cpp b/esphome/components/tfluna/tfluna.cpp
new file mode 100644
index 0000000000..1466ba8947
--- /dev/null
+++ b/esphome/components/tfluna/tfluna.cpp
@@ -0,0 +1,158 @@
+#include "tfluna.h"
+#include <cstddef>
+#include "esphome/core/log.h"
+#include "esphome/core/helpers.h"
+
+namespace esphome::tfluna {
+
+// see https://files.waveshare.com/upload/a/ac/SJ-PM-TF-Luna_A05_Product_Manual.pdf
+static constexpr uint8_t SAVE_REGISTER = 0x20;
+static constexpr uint8_t VERSION_REVISION_REGISTER = 0x0A;
+static constexpr uint8_t DISTANCE_LOW_REGISTER = 0x00;
+static constexpr uint8_t RESTORE_FACTORY_DEFAULTS_REGISTER = 0x29;
+static constexpr uint8_t SHUTDOWN_REBOOT_REGISTER = 0x21;
+static constexpr uint8_t MODE_REGISTER = 0x23;
+static constexpr uint8_t MODE_TRIGGER = 0x01;
+static constexpr uint8_t TRIGGER_ONESHOT_REGISTER = 0x24;
+static constexpr uint8_t MAX_READ_ATTEMPTS = 5;
+static constexpr uint8_t READ_RETRY_MS = 5;
+static const char *const TAG = "tfluna";
+static const char *const READ_RETRY_TIMEOUT = "read_retry";
+
+void TFLuna::dump_config() {
+  ESP_LOGCONFIG(TAG, "TF-Luna (i2c):");
+  LOG_I2C_DEVICE(this);
+  LOG_UPDATE_INTERVAL(this);
+  ESP_LOGCONFIG(TAG, "  Firmware: %s", this->version_);
+
+#ifdef USE_SENSOR
+  LOG_SENSOR("  ", "Distance:", this->distance_sensor_);
+  LOG_SENSOR("  ", "Temperature:", this->temperature_sensor_);
+  LOG_SENSOR("  ", "Signal Strength:", this->signal_strength_sensor_);
+  LOG_SENSOR("  ", "Timestamp:", this->timestamp_sensor_);
+#endif
+#ifdef USE_TEXT_SENSOR
+  LOG_TEXT_SENSOR("  ", "Version:", this->version_text_sensor_);
+#endif
+#ifdef USE_BUTTON
+  LOG_BUTTON("  ", "Factory Reset:", this->reset_button_);
+  LOG_BUTTON("  ", "Restart:", this->restart_button_);
+#endif
+}
+
+void TFLuna::setup() {
+  uint8_t mode;
+  if (!this->read_byte(MODE_REGISTER, &mode)) {
+    ESP_LOGE(TAG, ESP_LOG_MSG_COMM_FAIL);
+    this->mark_failed();
+    return;
+  }
+  if (mode != MODE_TRIGGER) {
+    if (!this->write_byte(MODE_REGISTER, MODE_TRIGGER)) {
+      ESP_LOGE(TAG, ESP_LOG_MSG_COMM_FAIL);
+      this->mark_failed();
+      return;
+    }
+
+    if (!this->write_byte(SAVE_REGISTER, 1)) {
+      ESP_LOGE(TAG, ESP_LOG_MSG_COMM_FAIL);
+      this->mark_failed();
+      return;
+    }
+  }
+
+  uint8_t raw_version[3];
+  if (!this->read_bytes(VERSION_REVISION_REGISTER, raw_version, sizeof(raw_version))) {
+    this->status_set_warning(ESP_LOG_MSG_COMM_FAIL);
+    return;
+  } else {
+    snprintf(this->version_, sizeof(this->version_), "%d.%d.%d", raw_version[2], raw_version[1], raw_version[0]);
+#ifdef USE_TEXT_SENSOR
+    if (this->version_text_sensor_ != nullptr) {
+      this->version_text_sensor_->publish_state(version_);
+    }
+#endif
+  }
+}
+
+bool TFLuna::read_data_() {
+  uint8_t buf[8];
+  if (!this->read_bytes(DISTANCE_LOW_REGISTER, buf, sizeof(buf))) {
+    this->status_set_warning(ESP_LOG_MSG_COMM_FAIL);
+    return false;
+  }
+  // Layout:
+  // buf[0..1] = distance (LE), buf[2..3] = signal (LE),
+  // buf[4..5] = temperature (LE), buf[6..7] = timestamp (LE)
+  uint16_t distance = encode_uint16(buf[1], buf[0]);
+  uint16_t signal_strength = encode_uint16(buf[3], buf[2]);
+  int16_t temperature_raw = encode_uint16(buf[5], buf[4]);
+  uint16_t timestamp = encode_uint16(buf[7], buf[6]);
+
+  if (timestamp == this->previous_timestamp_) {
+    return false;
+  }
+
+#ifdef USE_SENSOR
+  if (this->timestamp_sensor_ != nullptr) {
+    this->timestamp_sensor_->publish_state(timestamp);
+  }
+  if (this->distance_sensor_ != nullptr) {
+    // distance is unreliable when strength is below 100 or saturated at 0xFFFF
+    this->distance_sensor_->publish_state(signal_strength < 100 || signal_strength == 0xFFFF ? NAN : distance);
+  }
+
+  if (this->temperature_sensor_ != nullptr) {
+    this->temperature_sensor_->publish_state(temperature_raw / (float) 100);
+  }
+
+  if (this->signal_strength_sensor_ != nullptr) {
+    this->signal_strength_sensor_->publish_state(signal_strength);
+  }
+#endif
+  this->status_clear_warning();
+  this->previous_timestamp_ = timestamp;
+  return true;
+}
+
+void TFLuna::read_data_timeout_() {
+  if (this->read_data_()) {
+    this->attempt_ = 0;
+  } else {
+    if (this->attempt_ < MAX_READ_ATTEMPTS) {
+      this->attempt_++;
+      this->set_timeout(READ_RETRY_TIMEOUT, READ_RETRY_MS, [this]() { this->read_data_timeout_(); });
+    } else {
+      this->status_set_warning("Hung device, restarting...");
+      this->restart();
+    }
+  }
+}
+
+void TFLuna::update() {
+  this->cancel_timeout(READ_RETRY_TIMEOUT);
+  this->attempt_ = 0;
+  if (!this->write_byte(TRIGGER_ONESHOT_REGISTER, 0x01)) {
+    this->status_set_warning(ESP_LOG_MSG_COMM_FAIL);
+    return;
+  }
+  this->read_data_timeout_();
+}
+
+void TFLuna::factory_reset() {
+  if (!this->write_byte(RESTORE_FACTORY_DEFAULTS_REGISTER, 1)) {
+    ESP_LOGE(TAG, ESP_LOG_MSG_COMM_FAIL);
+    return;
+  }
+  this->status_set_warning("Factory reset issued; waiting for device to become ready");
+  this->set_timeout("_setup", 100, [this]() { this->setup(); });
+}
+
+void TFLuna::restart() {
+  if (!this->write_byte(SHUTDOWN_REBOOT_REGISTER, 0x02)) {
+    ESP_LOGE(TAG, ESP_LOG_MSG_COMM_FAIL);
+    return;
+  }
+}
+
+}  // namespace esphome::tfluna
diff --git a/esphome/components/tfluna/tfluna.h b/esphome/components/tfluna/tfluna.h
new file mode 100644
index 0000000000..0cc866ef1d
--- /dev/null
+++ b/esphome/components/tfluna/tfluna.h
@@ -0,0 +1,57 @@
+#pragma once
+
+#include "esphome/core/defines.h"
+#include "esphome/core/component.h"
+#ifdef USE_SENSOR
+#include "esphome/components/sensor/sensor.h"
+#endif
+#ifdef USE_TEXT_SENSOR
+#include "esphome/components/text_sensor/text_sensor.h"
+#endif
+#ifdef USE_BUTTON
+#include "esphome/components/button/button.h"
+#endif
+#include "esphome/components/i2c/i2c.h"
+
+namespace esphome::tfluna {
+
+class TFLuna : public i2c::I2CDevice, public PollingComponent {
+#ifdef USE_SENSOR
+  SUB_SENSOR(distance)
+  SUB_SENSOR(temperature)
+  SUB_SENSOR(signal_strength)
+  SUB_SENSOR(timestamp)
+#endif
+#ifdef USE_TEXT_SENSOR
+  SUB_TEXT_SENSOR(version)
+#endif
+#ifdef USE_BUTTON
+  SUB_BUTTON(reset)
+  SUB_BUTTON(restart)
+#endif
+ public:
+  void setup() override;
+
+  float get_setup_priority() const override { return setup_priority::LATE; }
+
+  void dump_config() override;
+
+  void update() override;
+
+  void factory_reset();
+
+  void restart();
+
+ protected:
+  char version_[12] = "unknown";
+
+  uint16_t previous_timestamp_ = 0;
+
+  [[nodiscard]] bool read_data_();
+
+  void read_data_timeout_();
+
+  uint8_t attempt_ = 0;
+};
+
+}  // namespace esphome::tfluna
diff --git a/tests/components/tfluna/common.yaml b/tests/components/tfluna/common.yaml
new file mode 100644
index 0000000000..5804ae6981
--- /dev/null
+++ b/tests/components/tfluna/common.yaml
@@ -0,0 +1,24 @@
+tfluna:
+
+sensor:
+  - platform: tfluna
+    distance:
+      name: "Distance"
+    signal_strength:
+      name: TF-Luna Signal Strength
+    temperature:
+      name: TF-Luna Temperature
+    timestamp:
+      name: TF-Luna Timestamp
+
+text_sensor:
+  - platform: tfluna
+    version:
+      name: "TF-Luna firmware version"
+
+button:
+  - platform: tfluna
+    factory_reset:
+      name: "factory reset"
+    restart:
+      name: "restart"
diff --git a/tests/components/tfluna/test.esp32-idf.yaml b/tests/components/tfluna/test.esp32-idf.yaml
new file mode 100644
index 0000000000..b47e39c389
--- /dev/null
+++ b/tests/components/tfluna/test.esp32-idf.yaml
@@ -0,0 +1,4 @@
+packages:
+  i2c: !include ../../test_build_components/common/i2c/esp32-idf.yaml
+
+<<: !include common.yaml
diff --git a/tests/components/tfluna/test.esp8266-ard.yaml b/tests/components/tfluna/test.esp8266-ard.yaml
new file mode 100644
index 0000000000..4a98b9388a
--- /dev/null
+++ b/tests/components/tfluna/test.esp8266-ard.yaml
@@ -0,0 +1,4 @@
+packages:
+  i2c: !include ../../test_build_components/common/i2c/esp8266-ard.yaml
+
+<<: !include common.yaml
diff --git a/tests/components/tfluna/test.rp2040-ard.yaml b/tests/components/tfluna/test.rp2040-ard.yaml
new file mode 100644
index 0000000000..319a7c71a6
--- /dev/null
+++ b/tests/components/tfluna/test.rp2040-ard.yaml
@@ -0,0 +1,4 @@
+packages:
+  i2c: !include ../../test_build_components/common/i2c/rp2040-ard.yaml
+
+<<: !include common.yaml