diff --git a/esphome/components/script/__init__.py b/esphome/components/script/__init__.py
index 9702878475..907d7bf0e3 100644
--- a/esphome/components/script/__init__.py
+++ b/esphome/components/script/__init__.py
@@ -2,7 +2,8 @@ import esphome.codegen as cg
 import esphome.config_validation as cv
 from esphome import automation
 from esphome.automation import maybe_simple_id
-from esphome.const import CONF_ID, CONF_MODE
+from esphome.const import CONF_ID, CONF_MODE, CONF_PARAMETERS
+from esphome.core import CORE, EsphomeError
 
 CODEOWNERS = ["@esphome/core"]
 script_ns = cg.esphome_ns.namespace("script")
@@ -16,6 +17,7 @@ RestartScript = script_ns.class_("RestartScript", Script)
 QueueingScript = script_ns.class_("QueueingScript", Script, cg.Component)
 ParallelScript = script_ns.class_("ParallelScript", Script)
 
+CONF_SCRIPT = "script"
 CONF_SINGLE = "single"
 CONF_RESTART = "restart"
 CONF_QUEUED = "queued"
@@ -29,6 +31,18 @@ SCRIPT_MODES = {
     CONF_PARALLEL: ParallelScript,
 }
 
+PARAMETER_TYPE_TRANSLATIONS = {
+    "string": "std::string",
+}
+
+
+def get_script(script_id):
+    scripts = CORE.config.get(CONF_SCRIPT, {})
+    for script in scripts:
+        if script.get(CONF_ID, None) == script_id:
+            return script
+    raise cv.Invalid(f"Script id '{script_id}' not found")
+
 
 def check_max_runs(value):
     if CONF_MAX_RUNS not in value:
@@ -47,6 +61,44 @@ def assign_declare_id(value):
     return value
 
 
+def parameters_to_template(args):
+
+    template_args = []
+    func_args = []
+    script_arg_names = []
+    for name, type_ in args.items():
+        array = False
+        if type_.endswith("[]"):
+            array = True
+            type_ = type_[:-2]
+        type_ = PARAMETER_TYPE_TRANSLATIONS.get(type_, type_)
+        if array:
+            type_ = f"std::vector<{type_}>"
+        type_ = cg.esphome_ns.namespace(type_)
+        template_args.append(type_)
+        func_args.append((type_, name))
+        script_arg_names.append(name)
+    template = cg.TemplateArguments(*template_args)
+    return template, func_args
+
+
+def validate_parameter_name(value):
+    value = cv.string(value)
+    if value != CONF_ID:
+        return value
+    raise cv.Invalid(f"Script's parameter name cannot be {CONF_ID}")
+
+
+ALLOWED_PARAM_TYPE_CHARSET = set("abcdefghijklmnopqrstuvwxyz0123456789_:*&[]")
+
+
+def validate_parameter_type(value):
+    value = cv.string_strict(value)
+    if set(value.lower()) <= ALLOWED_PARAM_TYPE_CHARSET:
+        return value
+    raise cv.Invalid("Parameter type contains invalid characters")
+
+
 CONFIG_SCHEMA = automation.validate_automation(
     {
         # Don't declare id as cv.declare_id yet, because the ID type
@@ -56,6 +108,11 @@ CONFIG_SCHEMA = automation.validate_automation(
             *SCRIPT_MODES, lower=True
         ),
         cv.Optional(CONF_MAX_RUNS): cv.positive_int,
+        cv.Optional(CONF_PARAMETERS, default={}): cv.Schema(
+            {
+                validate_parameter_name: validate_parameter_type,
+            }
+        ),
     },
     extra_validators=cv.All(check_max_runs, assign_declare_id),
 )
@@ -65,7 +122,8 @@ async def to_code(config):
     # Register all variables first, so that scripts can use other scripts
     triggers = []
     for conf in config:
-        trigger = cg.new_Pvariable(conf[CONF_ID])
+        template, func_args = parameters_to_template(conf[CONF_PARAMETERS])
+        trigger = cg.new_Pvariable(conf[CONF_ID], template)
         # Add a human-readable name to the script
         cg.add(trigger.set_name(conf[CONF_ID].id))
 
@@ -75,10 +133,10 @@ async def to_code(config):
         if conf[CONF_MODE] == CONF_QUEUED:
             await cg.register_component(trigger, conf)
 
-        triggers.append((trigger, conf))
+        triggers.append((trigger, func_args, conf))
 
-    for trigger, conf in triggers:
-        await automation.build_automation(trigger, [], conf)
+    for trigger, func_args, conf in triggers:
+        await automation.build_automation(trigger, func_args, conf)
 
 
 @automation.register_action(
@@ -87,12 +145,39 @@ async def to_code(config):
     maybe_simple_id(
         {
             cv.Required(CONF_ID): cv.use_id(Script),
-        }
+            cv.Optional(validate_parameter_name): cv.templatable(cv.valid),
+        },
     ),
 )
 async def script_execute_action_to_code(config, action_id, template_arg, args):
+    async def get_ordered_args(config, script_params):
+        config_args = config.copy()
+        config_args.pop(CONF_ID)
+
+        # match script_args to the formal parameter order
+        script_args = []
+        for type, name in script_params:
+            if name not in config_args:
+                raise EsphomeError(
+                    f"Missing parameter: '{name}' in script.execute {config[CONF_ID]}"
+                )
+            arg = await cg.templatable(config_args[name], args, type)
+            script_args.append(arg)
+        return script_args
+
+    script = get_script(config[CONF_ID])
+    params = script.get(CONF_PARAMETERS, [])
+    template, script_params = parameters_to_template(params)
+    script_args = await get_ordered_args(config, script_params)
+
+    # We need to use the parent class 'Script' as the template argument
+    # to match the partial specialization of the ScriptExecuteAction template
+    template_arg = cg.TemplateArguments(Script.template(template), *template_arg)
+
     paren = await cg.get_variable(config[CONF_ID])
-    return cg.new_Pvariable(action_id, template_arg, paren)
+    var = cg.new_Pvariable(action_id, template_arg, paren)
+    cg.add(var.set_args(*script_args))
+    return var
 
 
 @automation.register_action(
@@ -101,7 +186,8 @@ async def script_execute_action_to_code(config, action_id, template_arg, args):
     maybe_simple_id({cv.Required(CONF_ID): cv.use_id(Script)}),
 )
 async def script_stop_action_to_code(config, action_id, template_arg, args):
-    paren = await cg.get_variable(config[CONF_ID])
+    full_id, paren = await cg.get_variable_with_full_id(config[CONF_ID])
+    template_arg = cg.TemplateArguments(full_id.type, *template_arg)
     return cg.new_Pvariable(action_id, template_arg, paren)
 
 
@@ -111,7 +197,8 @@ async def script_stop_action_to_code(config, action_id, template_arg, args):
     maybe_simple_id({cv.Required(CONF_ID): cv.use_id(Script)}),
 )
 async def script_wait_action_to_code(config, action_id, template_arg, args):
-    paren = await cg.get_variable(config[CONF_ID])
+    full_id, paren = await cg.get_variable_with_full_id(config[CONF_ID])
+    template_arg = cg.TemplateArguments(full_id.type, *template_arg)
     var = cg.new_Pvariable(action_id, template_arg, paren)
     await cg.register_component(var, {})
     return var
@@ -123,5 +210,6 @@ async def script_wait_action_to_code(config, action_id, template_arg, args):
     automation.maybe_simple_id({cv.Required(CONF_ID): cv.use_id(Script)}),
 )
 async def script_is_running_to_code(config, condition_id, template_arg, args):
-    paren = await cg.get_variable(config[CONF_ID])
+    full_id, paren = await cg.get_variable_with_full_id(config[CONF_ID])
+    template_arg = cg.TemplateArguments(full_id.type, *template_arg)
     return cg.new_Pvariable(condition_id, template_arg, paren)
diff --git a/esphome/components/script/script.cpp b/esphome/components/script/script.cpp
index 46bcef905b..331f7dcd65 100644
--- a/esphome/components/script/script.cpp
+++ b/esphome/components/script/script.cpp
@@ -6,61 +6,8 @@ namespace script {
 
 static const char *const TAG = "script";
 
-void SingleScript::execute() {
-  if (this->is_action_running()) {
-    ESP_LOGW(TAG, "Script '%s' is already running! (mode: single)", this->name_.c_str());
-    return;
-  }
-
-  this->trigger();
-}
-
-void RestartScript::execute() {
-  if (this->is_action_running()) {
-    ESP_LOGD(TAG, "Script '%s' restarting (mode: restart)", this->name_.c_str());
-    this->stop_action();
-  }
-
-  this->trigger();
-}
-
-void QueueingScript::execute() {
-  if (this->is_action_running()) {
-    // num_runs_ is the number of *queued* instances, so total number of instances is
-    // num_runs_ + 1
-    if (this->max_runs_ != 0 && this->num_runs_ + 1 >= this->max_runs_) {
-      ESP_LOGW(TAG, "Script '%s' maximum number of queued runs exceeded!", this->name_.c_str());
-      return;
-    }
-
-    ESP_LOGD(TAG, "Script '%s' queueing new instance (mode: queued)", this->name_.c_str());
-    this->num_runs_++;
-    return;
-  }
-
-  this->trigger();
-  // Check if the trigger was immediate and we can continue right away.
-  this->loop();
-}
-
-void QueueingScript::stop() {
-  this->num_runs_ = 0;
-  Script::stop();
-}
-
-void QueueingScript::loop() {
-  if (this->num_runs_ != 0 && !this->is_action_running()) {
-    this->num_runs_--;
-    this->trigger();
-  }
-}
-
-void ParallelScript::execute() {
-  if (this->max_runs_ != 0 && this->automation_parent_->num_running() >= this->max_runs_) {
-    ESP_LOGW(TAG, "Script '%s' maximum number of parallel runs exceeded!", this->name_.c_str());
-    return;
-  }
-  this->trigger();
+void ScriptLogger::esp_log_(int level, int line, const char *format, const char *param) {
+  esp_log_printf_(level, TAG, line, format, param);
 }
 
 }  // namespace script
diff --git a/esphome/components/script/script.h b/esphome/components/script/script.h
index 5663d32ce8..f3a83cd6ec 100644
--- a/esphome/components/script/script.h
+++ b/esphome/components/script/script.h
@@ -2,27 +2,48 @@
 
 #include "esphome/core/automation.h"
 #include "esphome/core/component.h"
+#include "esphome/core/log.h"
 
 namespace esphome {
 namespace script {
 
+class ScriptLogger {
+ protected:
+  void esp_logw_(int line, const char *format, const char *param) {
+    esp_log_(ESPHOME_LOG_LEVEL_WARN, line, format, param);
+  }
+  void esp_logd_(int line, const char *format, const char *param) {
+    esp_log_(ESPHOME_LOG_LEVEL_DEBUG, line, format, param);
+  }
+  void esp_log_(int level, int line, const char *format, const char *param);
+};
+
 /// The abstract base class for all script types.
-class Script : public Trigger<> {
+template<typename... Ts> class Script : public ScriptLogger, public Trigger<Ts...> {
  public:
   /** Execute a new instance of this script.
    *
    * The behavior of this function when a script is already running is defined by the subtypes
    */
-  virtual void execute() = 0;
+  virtual void execute(Ts...) = 0;
   /// Check if any instance of this script is currently running.
   virtual bool is_running() { return this->is_action_running(); }
   /// Stop all instances of this script.
   virtual void stop() { this->stop_action(); }
 
+  // execute this script using a tuple that contains the arguments
+  void execute_tuple(const std::tuple<Ts...> &tuple) {
+    this->execute_tuple_(tuple, typename gens<sizeof...(Ts)>::type());
+  }
+
   // Internal function to give scripts readable names.
   void set_name(const std::string &name) { name_ = name; }
 
  protected:
+  template<int... S> void execute_tuple_(const std::tuple<Ts...> &tuple, seq<S...> /*unused*/) {
+    this->execute(std::get<S>(tuple)...);
+  }
+
   std::string name_;
 };
 
@@ -31,9 +52,16 @@ class Script : public Trigger<> {
  * If a new instance is executed while the previous one hasn't finished yet,
  * a warning is printed and the new instance is discarded.
  */
-class SingleScript : public Script {
+template<typename... Ts> class SingleScript : public Script<Ts...> {
  public:
-  void execute() override;
+  void execute(Ts... x) override {
+    if (this->is_action_running()) {
+      this->esp_logw_(__LINE__, "Script '%s' is already running! (mode: single)", this->name_.c_str());
+      return;
+    }
+
+    this->trigger(x...);
+  }
 };
 
 /** A script type that restarts scripts from the beginning when a new instance is started.
@@ -41,20 +69,55 @@ class SingleScript : public Script {
  * If a new instance is started but another one is already running, the existing
  * script is stopped and the new instance starts from the beginning.
  */
-class RestartScript : public Script {
+template<typename... Ts> class RestartScript : public Script<Ts...> {
  public:
-  void execute() override;
+  void execute(Ts... x) override {
+    if (this->is_action_running()) {
+      this->esp_logd_(__LINE__, "Script '%s' restarting (mode: restart)", this->name_.c_str());
+      this->stop_action();
+    }
+
+    this->trigger(x...);
+  }
 };
 
 /** A script type that queues new instances that are created.
  *
  * Only one instance of the script can be active at a time.
  */
-class QueueingScript : public Script, public Component {
+template<typename... Ts> class QueueingScript : public Script<Ts...>, public Component {
  public:
-  void execute() override;
-  void stop() override;
-  void loop() override;
+  void execute(Ts... x) override {
+    if (this->is_action_running()) {
+      // num_runs_ is the number of *queued* instances, so total number of instances is
+      // num_runs_ + 1
+      if (this->max_runs_ != 0 && this->num_runs_ + 1 >= this->max_runs_) {
+        this->esp_logw_(__LINE__, "Script '%s' maximum number of queued runs exceeded!", this->name_.c_str());
+        return;
+      }
+
+      this->esp_logd_(__LINE__, "Script '%s' queueing new instance (mode: queued)", this->name_.c_str());
+      this->num_runs_++;
+      return;
+    }
+
+    this->trigger(x...);
+    // Check if the trigger was immediate and we can continue right away.
+    this->loop();
+  }
+
+  void stop() override {
+    this->num_runs_ = 0;
+    Script<Ts...>::stop();
+  }
+
+  void loop() override {
+    if (this->num_runs_ != 0 && !this->is_action_running()) {
+      this->num_runs_--;
+      this->trigger();
+    }
+  }
+
   void set_max_runs(int max_runs) { max_runs_ = max_runs; }
 
  protected:
@@ -67,48 +130,84 @@ class QueueingScript : public Script, public Component {
  * If a new instance is started while previous ones haven't finished yet,
  * the new one is executed in parallel to the other instances.
  */
-class ParallelScript : public Script {
+template<typename... Ts> class ParallelScript : public Script<Ts...> {
  public:
-  void execute() override;
+  void execute(Ts... x) override {
+    if (this->max_runs_ != 0 && this->automation_parent_->num_running() >= this->max_runs_) {
+      this->esp_logw_(__LINE__, "Script '%s' maximum number of parallel runs exceeded!", this->name_.c_str());
+      return;
+    }
+    this->trigger(x...);
+  }
   void set_max_runs(int max_runs) { max_runs_ = max_runs; }
 
  protected:
   int max_runs_ = 0;
 };
 
-template<typename... Ts> class ScriptExecuteAction : public Action<Ts...> {
- public:
-  ScriptExecuteAction(Script *script) : script_(script) {}
+template<class S, typename... Ts> class ScriptExecuteAction;
 
-  void play(Ts... x) override { this->script_->execute(); }
+template<class... As, typename... Ts> class ScriptExecuteAction<Script<As...>, Ts...> : public Action<Ts...> {
+ public:
+  ScriptExecuteAction(Script<As...> *script) : script_(script) {}
+
+  using Args = std::tuple<TemplatableValue<As, Ts...>...>;
+
+  template<typename... F> void set_args(F... x) { args_ = Args{x...}; }
+
+  void play(Ts... x) override { this->script_->execute_tuple(this->eval_args_(x...)); }
 
  protected:
-  Script *script_;
+  // NOTE:
+  //  `eval_args_impl` functions evaluates `I`th the functions in `args` member.
+  //  and then recursively calls `eval_args_impl` for the `I+1`th arg.
+  //  if `I` = `N` all args have been stored, and nothing is done.
+
+  template<std::size_t N>
+  void eval_args_impl_(std::tuple<As...> & /*unused*/, std::integral_constant<std::size_t, N> /*unused*/,
+                       std::integral_constant<std::size_t, N> /*unused*/, Ts... /*unused*/) {}
+
+  template<std::size_t I, std::size_t N>
+  void eval_args_impl_(std::tuple<As...> &evaled_args, std::integral_constant<std::size_t, I> /*unused*/,
+                       std::integral_constant<std::size_t, N> n, Ts... x) {
+    std::get<I>(evaled_args) = std::get<I>(args_).value(x...);  // NOTE: evaluate `i`th arg, and store in tuple.
+    eval_args_impl_(evaled_args, std::integral_constant<std::size_t, I + 1>{}, n,
+                    x...);  // NOTE: recurse to next index.
+  }
+
+  std::tuple<As...> eval_args_(Ts... x) {
+    std::tuple<As...> evaled_args;
+    eval_args_impl_(evaled_args, std::integral_constant<std::size_t, 0>{}, std::tuple_size<Args>{}, x...);
+    return evaled_args;
+  }
+
+  Script<As...> *script_;
+  Args args_;
 };
 
-template<typename... Ts> class ScriptStopAction : public Action<Ts...> {
+template<class C, typename... Ts> class ScriptStopAction : public Action<Ts...> {
  public:
-  ScriptStopAction(Script *script) : script_(script) {}
+  ScriptStopAction(C *script) : script_(script) {}
 
   void play(Ts... x) override { this->script_->stop(); }
 
  protected:
-  Script *script_;
+  C *script_;
 };
 
-template<typename... Ts> class IsRunningCondition : public Condition<Ts...> {
+template<class C, typename... Ts> class IsRunningCondition : public Condition<Ts...> {
  public:
-  explicit IsRunningCondition(Script *parent) : parent_(parent) {}
+  explicit IsRunningCondition(C *parent) : parent_(parent) {}
 
   bool check(Ts... x) override { return this->parent_->is_running(); }
 
  protected:
-  Script *parent_;
+  C *parent_;
 };
 
-template<typename... Ts> class ScriptWaitAction : public Action<Ts...>, public Component {
+template<class C, typename... Ts> class ScriptWaitAction : public Action<Ts...>, public Component {
  public:
-  ScriptWaitAction(Script *script) : script_(script) {}
+  ScriptWaitAction(C *script) : script_(script) {}
 
   void play_complex(Ts... x) override {
     this->num_running_++;
@@ -137,7 +236,7 @@ template<typename... Ts> class ScriptWaitAction : public Action<Ts...>, public C
   }
 
  protected:
-  Script *script_;
+  C *script_;
   std::tuple<Ts...> var_{};
 };
 
diff --git a/esphome/const.py b/esphome/const.py
index 56f48d2f92..c19da541eb 100644
--- a/esphome/const.py
+++ b/esphome/const.py
@@ -491,6 +491,7 @@ CONF_PACKAGES = "packages"
 CONF_PAGE_ID = "page_id"
 CONF_PAGES = "pages"
 CONF_PANASONIC = "panasonic"
+CONF_PARAMETERS = "parameters"
 CONF_PASSWORD = "password"
 CONF_PATH = "path"
 CONF_PAYLOAD = "payload"
diff --git a/tests/test2.yaml b/tests/test2.yaml
index d485d3f16c..7d4cb4cbb2 100644
--- a/tests/test2.yaml
+++ b/tests/test2.yaml
@@ -532,6 +532,16 @@ text_sensor:
                 ESP_LOGD("main", "The state is %s=%s", x.c_str(), id(version_sensor).state.c_str());
             # yamllint enable rule:line-length
       - script.execute: my_script
+      - script.execute:
+          id: my_script_with_params
+          prefix: Running my_script_with_params
+          param2: 100
+          param3: true
+      - script.execute:
+          id: my_script_with_params
+          prefix: Running my_script_with_params using lambda parameters
+          param2: !lambda return 200;
+          param3: !lambda return true;
       - homeassistant.service:
           service: notify.html5
           data:
@@ -597,6 +607,13 @@ script:
     mode: restart
     then:
       - lambda: 'ESP_LOGD("main", "Hello World!");'
+  - id: my_script_with_params
+    parameters:
+      prefix: string
+      param2: int
+      param3: bool
+    then:
+      - lambda: 'ESP_LOGD("main", (prefix + " Hello World!" + to_string(param2) + " " + to_string(param3)).c_str());'
 
 stepper:
   - platform: uln2003