diff --git a/packages/block-editor/src/components/block-styles/index.js b/packages/block-editor/src/components/block-styles/index.js
index a9fdbe94356ef6..b9d53a3fc2bac1 100644
--- a/packages/block-editor/src/components/block-styles/index.js
+++ b/packages/block-editor/src/components/block-styles/index.js
@@ -1,28 +1,50 @@
-/**
- * External dependencies
- */
-import classnames from 'classnames';
-
 /**
  * WordPress dependencies
  */
-import { useState } from '@wordpress/element';
-import { debounce, useViewportMatch } from '@wordpress/compose';
 import {
-	Button,
-	__experimentalTruncate as Truncate,
+	ColorIndicator,
+	Flex,
+	FlexItem,
 	Popover,
+	privateApis as componentsPrivateApis,
+	__experimentalHStack as HStack,
+	__experimentalZStack as ZStack,
 } from '@wordpress/components';
+import { debounce, useViewportMatch } from '@wordpress/compose';
+import { useState } from '@wordpress/element';
+import { __ } from '@wordpress/i18n';
 
 /**
  * Internal dependencies
  */
+import { unlock } from '../../lock-unlock';
 import BlockStylesPreviewPanel from './preview-panel';
 import useStylesForBlocks from './use-styles-for-block';
+import { getDefaultStyle } from './utils';
 
 const noop = () => {};
+const { CustomSelect, CustomSelectItem } = unlock( componentsPrivateApis );
+
+const BlockStyleItem = ( { blockStyle } ) => {
+	const indicators = [
+		blockStyle.styles?.color?.background,
+		blockStyle.styles?.color?.text,
+	];
+
+	return (
+		<HStack justify="flex-start">
+			<ZStack isLayered={ false } offset={ -8 }>
+				{ indicators.map( ( indicator, index ) => (
+					<Flex key={ index } expanded={ false }>
+						<ColorIndicator colorValue={ indicator } />
+					</Flex>
+				) ) }
+			</ZStack>
+			<FlexItem title={ blockStyle.label }>{ blockStyle.label }</FlexItem>
+		</HStack>
+	);
+};
 
-// Block Styles component for the Settings Sidebar.
 function BlockStyles( { clientId, onSwitch = noop, onHoverClassName = noop } ) {
 	const {
 		onSelect,
@@ -30,10 +52,8 @@ function BlockStyles( { clientId, onSwitch = noop, onHoverClassName = noop } ) {
 		activeStyle,
 		genericPreviewBlock,
 		className: previewClassName,
-	} = useStylesForBlocks( {
-		clientId,
-		onSwitch,
-	} );
+	} = useStylesForBlocks( { clientId, onSwitch } );
+
 	const [ hoveredStyle, setHoveredStyle ] = useState( null );
 	const isMobileViewport = useViewportMatch( 'medium', '<' );
 
@@ -43,58 +63,64 @@ function BlockStyles( { clientId, onSwitch = noop, onHoverClassName = noop } ) {
 
 	const debouncedSetHoveredStyle = debounce( setHoveredStyle, 250 );
 
-	const onSelectStylePreview = ( style ) => {
-		onSelect( style );
+	const handleOnChange = ( style ) => {
+		onSelect( { name: style } );
 		onHoverClassName( null );
 		setHoveredStyle( null );
 		debouncedSetHoveredStyle.cancel();
 	};
 
-	const styleItemHandler = ( item ) => {
-		if ( hoveredStyle === item ) {
+	const hoverStyleHandler = ( style ) => {
+		if ( hoveredStyle === style ) {
 			debouncedSetHoveredStyle.cancel();
 			return;
 		}
-		debouncedSetHoveredStyle( item );
-		onHoverClassName( item?.name ?? null );
+
+		debouncedSetHoveredStyle( style );
+		onHoverClassName( style?.name ?? null );
+	};
+
+	const renderSelectedBlockStlye = ( currentStyle ) => {
+		const currentBlockStyle = stylesToRender.find(
+			( style ) => style.name === currentStyle
+		);
+
+		if ( ! currentBlockStyle ) {
+			return null;
+		}
+
+		return <BlockStyleItem blockStyle={ currentBlockStyle } />;
 	};
 
+	const defaultStyle = getDefaultStyle( stylesToRender );
+
 	return (
 		<div className="block-editor-block-styles">
-			<div className="block-editor-block-styles__variants">
-				{ stylesToRender.map( ( style ) => {
-					const buttonText = style.label || style.name;
-
-					return (
-						<Button
-							__next40pxDefaultSize
-							className={ classnames(
-								'block-editor-block-styles__item',
-								{
-									'is-active':
-										activeStyle.name === style.name,
-								}
-							) }
-							key={ style.name }
-							variant="secondary"
-							label={ buttonText }
-							onMouseEnter={ () => styleItemHandler( style ) }
-							onFocus={ () => styleItemHandler( style ) }
-							onMouseLeave={ () => styleItemHandler( null ) }
-							onBlur={ () => styleItemHandler( null ) }
-							onClick={ () => onSelectStylePreview( style ) }
-							aria-current={ activeStyle.name === style.name }
-						>
-							<Truncate
-								numberOfLines={ 1 }
-								className="block-editor-block-styles__item-text"
-							>
-								{ buttonText }
-							</Truncate>
-						</Button>
-					);
-				} ) }
-			</div>
+			<CustomSelect
+				className="block-editor-block-styles__button"
+				defaultValue={ defaultStyle?.name }
+				label={ __( 'Select a block style' ) }
+				onChange={ handleOnChange }
+				renderSelectedValue={ renderSelectedBlockStlye }
+				value={ activeStyle?.name }
+				hideLabelFromVision
+				popoverProps={ {
+					wrapperProps: { style: { zIndex: 1000000 } },
+				} }
+			>
+				{ stylesToRender.map( ( blockStyle, index ) => (
+					<CustomSelectItem
+						key={ index }
+						value={ blockStyle.name }
+						onMouseEnter={ () => hoverStyleHandler( blockStyle ) }
+						onMouseLeave={ () => hoverStyleHandler( null ) }
+						onFocus={ () => hoverStyleHandler( blockStyle ) }
+						onBlur={ () => hoverStyleHandler( null ) }
+					>
+						<BlockStyleItem blockStyle={ blockStyle } />
+					</CustomSelectItem>
+				) ) }
+			</CustomSelect>
 			{ hoveredStyle && ! isMobileViewport && (
 				<Popover
 					placement="left-start"
@@ -103,7 +129,7 @@ function BlockStyles( { clientId, onSwitch = noop, onHoverClassName = noop } ) {
 				>
 					<div
 						className="block-editor-block-styles__preview-panel"
-						onMouseLeave={ () => styleItemHandler( null ) }
+						onMouseLeave={ () => hoverStyleHandler( null ) }
 					>
 						<BlockStylesPreviewPanel
 							activeStyle={ activeStyle }
diff --git a/packages/block-editor/src/components/block-styles/style.scss b/packages/block-editor/src/components/block-styles/style.scss
index b2747df04c1c05..5a49779d61e171 100644
--- a/packages/block-editor/src/components/block-styles/style.scss
+++ b/packages/block-editor/src/components/block-styles/style.scss
@@ -17,51 +17,6 @@
 	}
 }
 
-.block-editor-block-styles__variants {
-	display: flex;
-	flex-wrap: wrap;
-	justify-content: space-between;
-	gap: $grid-unit-10;
-
-	button.components-button.block-editor-block-styles__item {
-		color: $gray-900;
-		box-shadow: inset 0 0 0 $border-width $gray-300;
-		display: inline-block;
-		width: calc(50% - #{$grid-unit-05});
-
-		&:hover {
-			color: var(--wp-admin-theme-color);
-			box-shadow: inset 0 0 0 $border-width $gray-300;
-		}
-
-		&.is-active,
-		&.is-active:hover {
-			background-color: $gray-900;
-			box-shadow: none;
-		}
-
-		&.is-active .block-editor-block-styles__item-text,
-		&.is-active:hover .block-editor-block-styles__item-text {
-			color: $white;
-		}
-
-		&:focus,
-		&.is-active:focus {
-			@include block-toolbar-button-style__focus();
-		}
-	}
-
-	.block-editor-block-styles__item-text {
-		word-break: break-all;
-		// The Button component is white-space: nowrap, and that won't work with line-clamp.
-		white-space: normal;
-
-		// Without this, the ellipsis can sometimes be partially hidden by the Button padding.
-		text-align: start;
-		text-align-last: center;
-	}
-}
-
 // To prevent overflow in the preview container,
 // ensure that block contents' margin and padding
 // do not add to the block container's width.
@@ -69,3 +24,10 @@
 .block-editor-block-styles__block-preview-container * {
 	box-sizing: border-box !important;
 }
+
+.block-editor-block-styles__button {
+	/* Increased specificity required to overcome default button padding. */
+	&#{&} {
+		padding: 6px 12px;
+	}
+}
diff --git a/packages/block-editor/src/components/block-styles/use-styles-for-block.js b/packages/block-editor/src/components/block-styles/use-styles-for-block.js
index 6d73dca557b058..f17e4245e2db70 100644
--- a/packages/block-editor/src/components/block-styles/use-styles-for-block.js
+++ b/packages/block-editor/src/components/block-styles/use-styles-for-block.js
@@ -53,19 +53,34 @@ function useGenericPreviewBlock( block, type ) {
  */
 export default function useStylesForBlocks( { clientId, onSwitch } ) {
 	const selector = ( select ) => {
-		const { getBlock } = select( blockEditorStore );
+		const { getBlock, getSettings } = select( blockEditorStore );
 		const block = getBlock( clientId );
 
 		if ( ! block ) {
 			return {};
 		}
+
 		const blockType = getBlockType( block.name );
 		const { getBlockStyles } = select( blocksStore );
+		const styles = getBlockStyles( block.name );
+
+		// Add theme.json styles for each block style if available.
+		const variations =
+			getSettings().__experimentalStyles?.blocks?.[ block.name ]
+				?.variations ?? {};
+
+		if ( variations ) {
+			styles?.forEach( ( style, index ) => {
+				if ( variations[ style.name ] ) {
+					styles[ index ].styles = variations[ style.name ];
+				}
+			} );
+		}
 
 		return {
 			block,
 			blockType,
-			styles: getBlockStyles( block.name ),
+			styles,
 			className: block.attributes.className || '',
 		};
 	};