diff --git a/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/controlPanel.tsx b/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/controlPanel.tsx
index e18ba6ba6b7..e19960e7460 100644
--- a/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/controlPanel.tsx
+++ b/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/controlPanel.tsx
@@ -58,41 +58,109 @@ const config: ControlPanelConfig = {
             },
           },
         ],
+      ],
+    },
+    {
+      label: t('Series settings'),
+      expanded: true,
+      controlSetRows: [
         [
           <ControlSubSectionHeader>
-            {t('Series colors')}
+            {t('Series increase setting')}
           </ControlSubSectionHeader>,
         ],
         [
           {
             name: 'increase_color',
             config: {
-              label: t('Increase'),
+              label: t('Increase color'),
               type: 'ColorPickerControl',
               default: { r: 90, g: 193, b: 137, a: 1 },
               renderTrigger: true,
+              description: t(
+                'Select the color used for values that indicate an increase in the chart',
+              ),
             },
           },
           {
-            name: 'decrease_color',
+            name: 'increase_label',
             config: {
-              label: t('Decrease'),
-              type: 'ColorPickerControl',
-              default: { r: 224, g: 67, b: 85, a: 1 },
-              renderTrigger: true,
-            },
-          },
-          {
-            name: 'total_color',
-            config: {
-              label: t('Total'),
-              type: 'ColorPickerControl',
-              default: { r: 102, g: 102, b: 102, a: 1 },
+              label: t('Increase label'),
+              type: 'TextControl',
               renderTrigger: true,
+              description: t(
+                'Customize the label displayed for increasing values in the chart tooltips and legend.',
+              ),
             },
           },
         ],
-        [<ControlSubSectionHeader>{t('X Axis')}</ControlSubSectionHeader>],
+        [
+          <ControlSubSectionHeader>
+            {t('Series decrease setting')}
+          </ControlSubSectionHeader>,
+        ],
+        [
+          {
+            name: 'decrease_color',
+            config: {
+              label: t('Decrease color'),
+              type: 'ColorPickerControl',
+              default: { r: 224, g: 67, b: 85, a: 1 },
+              renderTrigger: true,
+              description: t(
+                'Select the color used for values ​​that indicate a decrease in the chart.',
+              ),
+            },
+          },
+          {
+            name: 'decrease_label',
+            config: {
+              label: t('Decrease label'),
+              type: 'TextControl',
+              renderTrigger: true,
+              description: t(
+                'Customize the label displayed for decreasing values in the chart tooltips and legend.',
+              ),
+            },
+          },
+        ],
+        [
+          <ControlSubSectionHeader>
+            {t('Series total setting')}
+          </ControlSubSectionHeader>,
+        ],
+        [
+          {
+            name: 'total_color',
+            config: {
+              label: t('Total color'),
+              type: 'ColorPickerControl',
+              default: { r: 102, g: 102, b: 102, a: 1 },
+              renderTrigger: true,
+              description: t(
+                'Select the color used for values that represent total bars in the chart',
+              ),
+            },
+          },
+
+          {
+            name: 'total_label',
+            config: {
+              label: t('Total label'),
+              type: 'TextControl',
+              renderTrigger: true,
+              description: t(
+                'Customize the label displayed for total values in the chart tooltips, legend, and chart axis.',
+              ),
+            },
+          },
+        ],
+      ],
+    },
+    {
+      label: t('X Axis'),
+      expanded: true,
+      controlSetRows: [
         [
           {
             name: 'x_axis_label',
@@ -134,7 +202,12 @@ const config: ControlPanelConfig = {
             },
           },
         ],
-        [<ControlSubSectionHeader>{t('Y Axis')}</ControlSubSectionHeader>],
+      ],
+    },
+    {
+      label: t('Y Axis'),
+      expanded: true,
+      controlSetRows: [
         [
           {
             name: 'y_axis_label',
diff --git a/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/transformProps.ts b/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/transformProps.ts
index e2fc17e2398..62c9724f423 100644
--- a/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/transformProps.ts
+++ b/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/transformProps.ts
@@ -51,11 +51,13 @@ function formatTooltip({
   breakdownName,
   defaultFormatter,
   xAxisFormatter,
+  totalMark,
 }: {
   params: ICallbackDataParams[];
   breakdownName?: string;
   defaultFormatter: NumberFormatter | CurrencyFormatter;
   xAxisFormatter: (value: number | string, index: number) => string;
+  totalMark: string;
 }) {
   const series = params.find(
     param => param.seriesName !== ASSIST_MARK && param.data.value !== TOKEN,
@@ -66,7 +68,7 @@ function formatTooltip({
     return '';
   }
 
-  const isTotal = series?.seriesName === LEGEND.TOTAL;
+  const isTotal = series?.seriesName === totalMark;
   if (!series) {
     return NULL_STRING;
   }
@@ -82,7 +84,7 @@ function formatTooltip({
       defaultFormatter(series.data.originalValue),
     ]);
   }
-  rows.push([TOTAL_MARK, defaultFormatter(series.data.totalSum)]);
+  rows.push([totalMark, defaultFormatter(series.data.totalSum)]);
   return tooltipHtml(rows, title);
 }
 
@@ -91,11 +93,13 @@ function transformer({
   xAxis,
   metric,
   breakdown,
+  totalMark,
 }: {
   data: DataRecord[];
   xAxis: string;
   metric: string;
   breakdown?: string;
+  totalMark: string;
 }) {
   // Group by series (temporary map)
   const groupedData = data.reduce((acc, cur) => {
@@ -119,7 +123,7 @@ function transformer({
       // Push total per period to the end of period values array
       tempValue.push({
         [xAxis]: key,
-        [breakdown]: TOTAL_MARK,
+        [breakdown]: totalMark,
         [metric]: sum,
       });
       transformedData.push(...tempValue);
@@ -138,7 +142,7 @@ function transformer({
       total += sum;
     });
     transformedData.push({
-      [xAxis]: TOTAL_MARK,
+      [xAxis]: totalMark,
       [metric]: total,
     });
   }
@@ -179,11 +183,21 @@ export default function transformProps(
     xAxisLabel,
     yAxisFormat,
     showValue,
+    totalLabel,
+    increaseLabel,
+    decreaseLabel,
   } = formData;
   const defaultFormatter = currencyFormat?.symbol
     ? new CurrencyFormatter({ d3Format: yAxisFormat, currency: currencyFormat })
     : getNumberFormatter(yAxisFormat);
 
+  const totalMark = totalLabel || TOTAL_MARK;
+  const legendNames = {
+    INCREASE: increaseLabel || LEGEND.INCREASE,
+    DECREASE: decreaseLabel || LEGEND.DECREASE,
+    TOTAL: totalLabel || LEGEND.TOTAL,
+  };
+
   const seriesformatter = (params: ICallbackDataParams) => {
     const { data } = params;
     const { originalValue } = data;
@@ -205,6 +219,7 @@ export default function transformProps(
     breakdown: breakdownName,
     xAxis: xAxisName,
     metric: metricLabel,
+    totalMark,
   });
 
   const assistData: ISeriesData[] = [];
@@ -217,18 +232,18 @@ export default function transformProps(
   transformedData.forEach((datum, index, self) => {
     const totalSum = self.slice(0, index + 1).reduce((prev, cur, i) => {
       if (breakdownName) {
-        if (cur[breakdownName] !== TOTAL_MARK || i === 0) {
+        if (cur[breakdownName] !== totalMark || i === 0) {
           return prev + ((cur[metricLabel] as number) ?? 0);
         }
-      } else if (cur[xAxisName] !== TOTAL_MARK) {
+      } else if (cur[xAxisName] !== totalMark) {
         return prev + ((cur[metricLabel] as number) ?? 0);
       }
       return prev;
     }, 0);
 
     const isTotal =
-      (breakdownName && datum[breakdownName] === TOTAL_MARK) ||
-      datum[xAxisName] === TOTAL_MARK;
+      (breakdownName && datum[breakdownName] === totalMark) ||
+      datum[xAxisName] === totalMark;
 
     const originalValue = datum[metricLabel] as number;
     let value = originalValue;
@@ -270,9 +285,9 @@ export default function transformProps(
       : 'transparent';
 
     let opacity = 1;
-    if (legendState?.[LEGEND.INCREASE] === false && value > 0) {
+    if (legendState?.[legendNames.INCREASE] === false && value > 0) {
       opacity = 0;
-    } else if (legendState?.[LEGEND.DECREASE] === false && value < 0) {
+    } else if (legendState?.[legendNames.DECREASE] === false && value < 0) {
       opacity = 0;
     }
 
@@ -301,7 +316,7 @@ export default function transformProps(
   const xAxisData = transformedData.map(row => {
     let column = xAxisName;
     let value = row[xAxisName];
-    if (breakdownName && row[breakdownName] !== TOTAL_MARK) {
+    if (breakdownName && row[breakdownName] !== totalMark) {
       column = breakdownName;
       value = row[breakdownName];
     }
@@ -316,8 +331,8 @@ export default function transformProps(
   });
 
   const xAxisFormatter = (value: number | string, index: number) => {
-    if (value === TOTAL_MARK) {
-      return TOTAL_MARK;
+    if (value === totalMark) {
+      return totalMark;
     }
     if (coltypeMapping[xAxisColumns[index]] === GenericDataType.Temporal) {
       if (typeof value === 'string') {
@@ -370,7 +385,7 @@ export default function transformProps(
     },
     {
       ...seriesProps,
-      name: LEGEND.INCREASE,
+      name: legendNames.INCREASE,
       label: {
         ...labelProps,
         position: 'top',
@@ -382,7 +397,7 @@ export default function transformProps(
     },
     {
       ...seriesProps,
-      name: LEGEND.DECREASE,
+      name: legendNames.DECREASE,
       label: {
         ...labelProps,
         position: 'bottom',
@@ -394,7 +409,7 @@ export default function transformProps(
     },
     {
       ...seriesProps,
-      name: LEGEND.TOTAL,
+      name: legendNames.TOTAL,
       label: {
         ...labelProps,
         position: 'top',
@@ -417,7 +432,7 @@ export default function transformProps(
     legend: {
       show: showLegend,
       selected: legendState,
-      data: [LEGEND.INCREASE, LEGEND.DECREASE, LEGEND.TOTAL],
+      data: [legendNames.INCREASE, legendNames.DECREASE, legendNames.TOTAL],
     },
     xAxis: {
       data: xAxisData,
@@ -450,6 +465,7 @@ export default function transformProps(
           breakdownName,
           defaultFormatter,
           xAxisFormatter,
+          totalMark,
         }),
     },
     series: barSeries,
diff --git a/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/types.ts b/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/types.ts
index 71a28dd9f75..10cf1ee4230 100644
--- a/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/types.ts
+++ b/superset-frontend/plugins/plugin-chart-echarts/src/Waterfall/types.ts
@@ -57,6 +57,9 @@ export type EchartsWaterfallFormData = QueryFormData &
     xTicksLayout?: WaterfallFormXTicksLayout;
     yAxisLabel: string;
     yAxisFormat: string;
+    increaseLabel?: string;
+    decreaseLabel?: string;
+    totalLabel?: string;
   };
 
 export const DEFAULT_FORM_DATA: Partial<EchartsWaterfallFormData> = {
diff --git a/superset-frontend/plugins/plugin-chart-echarts/src/controls.tsx b/superset-frontend/plugins/plugin-chart-echarts/src/controls.tsx
index 488ae5ef2e0..695305e1b46 100644
--- a/superset-frontend/plugins/plugin-chart-echarts/src/controls.tsx
+++ b/superset-frontend/plugins/plugin-chart-echarts/src/controls.tsx
@@ -128,7 +128,7 @@ export const showValueControl: ControlSetItem = {
   name: 'show_value',
   config: {
     type: 'CheckboxControl',
-    label: t('Show Value'),
+    label: t('Show value'),
     default: false,
     renderTrigger: true,
     description: t('Show series values on the chart'),
diff --git a/superset-frontend/plugins/plugin-chart-echarts/test/Waterfall/transformProps.test.ts b/superset-frontend/plugins/plugin-chart-echarts/test/Waterfall/transformProps.test.ts
index a4abec6d496..761bc00b972 100644
--- a/superset-frontend/plugins/plugin-chart-echarts/test/Waterfall/transformProps.test.ts
+++ b/superset-frontend/plugins/plugin-chart-echarts/test/Waterfall/transformProps.test.ts
@@ -31,6 +31,14 @@ const extractSeries = (props: WaterfallChartTransformedProps) => {
   return series.map(item => item.data).map(item => item.map(i => i.value));
 };
 
+const extractSeriesName = (props: WaterfallChartTransformedProps) => {
+  const { echartOptions } = props;
+  const { series } = echartOptions as unknown as {
+    series: [{ name: string }];
+  };
+  return series.map(item => item.name);
+};
+
 describe('Waterfall tranformProps', () => {
   const data = [
     { year: '2019', name: 'Sylvester', sum: 10 },
@@ -94,4 +102,44 @@ describe('Waterfall tranformProps', () => {
       ['-', '-', 13, '-', '-', 8],
     ]);
   });
+
+  it('renaming series names, checking legend and X axis labels', () => {
+    const chartProps = new ChartProps({
+      formData: {
+        ...formData,
+        increaseLabel: 'sale increase',
+        decreaseLabel: 'sale decrease',
+        totalLabel: 'sale total',
+      },
+      width: 800,
+      height: 600,
+      queriesData: [
+        {
+          data,
+        },
+      ],
+      theme: supersetTheme,
+    });
+    const transformedProps = transformProps(
+      chartProps as unknown as EchartsWaterfallChartProps,
+    );
+    expect((transformedProps.echartOptions.legend as any).data).toEqual([
+      'sale increase',
+      'sale decrease',
+      'sale total',
+    ]);
+
+    expect((transformedProps.echartOptions.xAxis as any).data).toEqual([
+      '2019',
+      '2020',
+      'sale total',
+    ]);
+
+    expect(extractSeriesName(transformedProps)).toEqual([
+      'Assist',
+      'sale increase',
+      'sale decrease',
+      'sale total',
+    ]);
+  });
 });