diff --git a/CODEOWNERS b/CODEOWNERS
index 616b18293d..f96e43d5b7 100644
--- a/CODEOWNERS
+++ b/CODEOWNERS
@@ -202,7 +202,7 @@ esphome/components/i2c_device/* @gabest11
 esphome/components/i2s_audio/* @jesserockz
 esphome/components/i2s_audio/media_player/* @jesserockz
 esphome/components/i2s_audio/microphone/* @jesserockz
-esphome/components/i2s_audio/speaker/* @jesserockz
+esphome/components/i2s_audio/speaker/* @jesserockz @kahrendt
 esphome/components/iaqcore/* @yozik04
 esphome/components/ili9xxx/* @clydebarrow @nielsnl68
 esphome/components/improv_base/* @esphome/core
@@ -377,7 +377,7 @@ esphome/components/smt100/* @piechade
 esphome/components/sn74hc165/* @jesserockz
 esphome/components/socket/* @esphome/core
 esphome/components/sonoff_d1/* @anatoly-savchenkov
-esphome/components/speaker/* @jesserockz
+esphome/components/speaker/* @jesserockz @kahrendt
 esphome/components/spi/* @clydebarrow @esphome/core
 esphome/components/spi_device/* @clydebarrow
 esphome/components/spi_led_strip/* @clydebarrow
diff --git a/esphome/components/i2s_audio/speaker/__init__.py b/esphome/components/i2s_audio/speaker/__init__.py
index 9fdaced64c..dd43d6cb39 100644
--- a/esphome/components/i2s_audio/speaker/__init__.py
+++ b/esphome/components/i2s_audio/speaker/__init__.py
@@ -17,7 +17,7 @@ from .. import (
 )
 
 AUTO_LOAD = ["audio"]
-CODEOWNERS = ["@jesserockz"]
+CODEOWNERS = ["@jesserockz", "@kahrendt"]
 DEPENDENCIES = ["i2s_audio"]
 
 I2SAudioSpeaker = i2s_audio_ns.class_(
diff --git a/esphome/components/i2s_audio/speaker/i2s_audio_speaker.cpp b/esphome/components/i2s_audio/speaker/i2s_audio_speaker.cpp
index 4fc489d0a3..cf6c3bbbba 100644
--- a/esphome/components/i2s_audio/speaker/i2s_audio_speaker.cpp
+++ b/esphome/components/i2s_audio/speaker/i2s_audio_speaker.cpp
@@ -32,6 +32,7 @@ enum SpeakerEventGroupBits : uint32_t {
   STATE_RUNNING = (1 << 11),
   STATE_STOPPING = (1 << 12),
   STATE_STOPPED = (1 << 13),
+  ERR_INVALID_FORMAT = (1 << 14),
   ERR_TASK_FAILED_TO_START = (1 << 15),
   ERR_ESP_INVALID_STATE = (1 << 16),
   ERR_ESP_INVALID_ARG = (1 << 17),
@@ -104,16 +105,6 @@ void I2SAudioSpeaker::setup() {
 void I2SAudioSpeaker::loop() {
   uint32_t event_group_bits = xEventGroupGetBits(this->event_group_);
 
-  if (event_group_bits & SpeakerEventGroupBits::ERR_TASK_FAILED_TO_START) {
-    this->status_set_error("Failed to start speaker task");
-  }
-
-  if (event_group_bits & SpeakerEventGroupBits::ALL_ERR_ESP_BITS) {
-    uint32_t error_bits = event_group_bits & SpeakerEventGroupBits::ALL_ERR_ESP_BITS;
-    ESP_LOGW(TAG, "Error writing to I2S: %s", esp_err_to_name(err_bit_to_esp_err(error_bits)));
-    this->status_set_warning();
-  }
-
   if (event_group_bits & SpeakerEventGroupBits::STATE_STARTING) {
     ESP_LOGD(TAG, "Starting Speaker");
     this->state_ = speaker::STATE_STARTING;
@@ -139,12 +130,64 @@ void I2SAudioSpeaker::loop() {
       this->speaker_task_handle_ = nullptr;
     }
   }
+
+  if (event_group_bits & SpeakerEventGroupBits::ERR_TASK_FAILED_TO_START) {
+    this->status_set_error("Failed to start speaker task");
+    xEventGroupClearBits(this->event_group_, SpeakerEventGroupBits::ERR_TASK_FAILED_TO_START);
+  }
+
+  if (event_group_bits & SpeakerEventGroupBits::ERR_INVALID_FORMAT) {
+    this->status_set_error("Failed to adjust I2S bus to match the incoming audio");
+    ESP_LOGE(TAG,
+             "Incompatible audio format: sample rate = %" PRIu32 ", channels = %" PRIu8 ", bits per sample = %" PRIu8,
+             this->audio_stream_info_.sample_rate, this->audio_stream_info_.channels,
+             this->audio_stream_info_.bits_per_sample);
+  }
+
+  if (event_group_bits & SpeakerEventGroupBits::ALL_ERR_ESP_BITS) {
+    uint32_t error_bits = event_group_bits & SpeakerEventGroupBits::ALL_ERR_ESP_BITS;
+    ESP_LOGW(TAG, "Error writing to I2S: %s", esp_err_to_name(err_bit_to_esp_err(error_bits)));
+    this->status_set_warning();
+  }
 }
 
 void I2SAudioSpeaker::set_volume(float volume) {
   this->volume_ = volume;
-  ssize_t decibel_index = remap<ssize_t, float>(volume, 0.0f, 1.0f, 0, Q15_VOLUME_SCALING_FACTORS.size() - 1);
-  this->q15_volume_factor_ = Q15_VOLUME_SCALING_FACTORS[decibel_index];
+#ifdef USE_AUDIO_DAC
+  if (this->audio_dac_ != nullptr) {
+    if (volume > 0.0) {
+      this->audio_dac_->set_mute_off();
+    }
+    this->audio_dac_->set_volume(volume);
+  } else
+#endif
+  {
+    // Fallback to software volume control by using a Q15 fixed point scaling factor
+    ssize_t decibel_index = remap<ssize_t, float>(volume, 0.0f, 1.0f, 0, Q15_VOLUME_SCALING_FACTORS.size() - 1);
+    this->q15_volume_factor_ = Q15_VOLUME_SCALING_FACTORS[decibel_index];
+  }
+}
+
+void I2SAudioSpeaker::set_mute_state(bool mute_state) {
+  this->mute_state_ = mute_state;
+#ifdef USE_AUDIO_DAC
+  if (this->audio_dac_) {
+    if (mute_state) {
+      this->audio_dac_->set_mute_on();
+    } else {
+      this->audio_dac_->set_mute_off();
+    }
+  } else
+#endif
+  {
+    if (mute_state) {
+      // Fallback to software volume control and scale by 0
+      this->q15_volume_factor_ = 0;
+    } else {
+      // Revert to previous volume when unmuting
+      this->set_volume(this->volume_);
+    }
+  }
 }
 
 size_t I2SAudioSpeaker::play(const uint8_t *data, size_t length, TickType_t ticks_to_wait) {
@@ -275,6 +318,9 @@ void I2SAudioSpeaker::speaker_task(void *params) {
         i2s_zero_dma_buffer(this_speaker->parent_->get_port());
       }
     }
+  } else {
+    // Couldn't configure the I2S port to be compatible with the incoming audio
+    xEventGroupSetBits(this_speaker->event_group_, SpeakerEventGroupBits::ERR_INVALID_FORMAT);
   }
   i2s_zero_dma_buffer(this_speaker->parent_->get_port());
 
@@ -288,7 +334,7 @@ void I2SAudioSpeaker::speaker_task(void *params) {
 }
 
 void I2SAudioSpeaker::start() {
-  if (this->is_failed())
+  if (this->is_failed() || this->status_has_error())
     return;
   if ((this->state_ == speaker::STATE_STARTING) || (this->state_ == speaker::STATE_RUNNING))
     return;
diff --git a/esphome/components/i2s_audio/speaker/i2s_audio_speaker.h b/esphome/components/i2s_audio/speaker/i2s_audio_speaker.h
index 245f97d1e7..3c512d4d4d 100644
--- a/esphome/components/i2s_audio/speaker/i2s_audio_speaker.h
+++ b/esphome/components/i2s_audio/speaker/i2s_audio_speaker.h
@@ -49,11 +49,17 @@ class I2SAudioSpeaker : public I2SAudioOut, public speaker::Speaker, public Comp
 
   bool has_buffered_data() const override;
 
-  /// @brief Sets the volume of the speaker. It is implemented as a software volume control.
-  /// Overrides the default setter to convert the floating point volume to a Q15 fixed-point factor.
-  /// @param volume
+  /// @brief Sets the volume of the speaker. Uses the speaker's configured audio dac component. If unavailble, it is
+  /// implemented as a software volume control. Overrides the default setter to convert the floating point volume to a
+  /// Q15 fixed-point factor.
+  /// @param volume between 0.0 and 1.0
   void set_volume(float volume) override;
-  float get_volume() override { return this->volume_; }
+
+  /// @brief Mutes or unmute the speaker. Uses the speaker's configured audio dac component. If unavailble, it is
+  /// implemented as a software volume control. Overrides the default setter to convert the floating point volume to a
+  /// Q15 fixed-point factor.
+  /// @param mute_state true for muting, false for unmuting
+  void set_mute_state(bool mute_state) override;
 
  protected:
   /// @brief Function for the FreeRTOS task handling audio output.
diff --git a/esphome/components/speaker/__init__.py b/esphome/components/speaker/__init__.py
index 1bbc0b02ef..7a668dc2f3 100644
--- a/esphome/components/speaker/__init__.py
+++ b/esphome/components/speaker/__init__.py
@@ -1,15 +1,18 @@
 from esphome import automation
 from esphome.automation import maybe_simple_id
 import esphome.codegen as cg
+from esphome.components import audio_dac
 import esphome.config_validation as cv
 from esphome.const import CONF_DATA, CONF_ID, CONF_VOLUME
 from esphome.core import CORE
 from esphome.coroutine import coroutine_with_priority
 
-CODEOWNERS = ["@jesserockz"]
+CODEOWNERS = ["@jesserockz", "@kahrendt"]
 
 IS_PLATFORM_COMPONENT = True
 
+CONF_AUDIO_DAC = "audio_dac"
+
 speaker_ns = cg.esphome_ns.namespace("speaker")
 
 Speaker = speaker_ns.class_("Speaker")
@@ -26,6 +29,12 @@ FinishAction = speaker_ns.class_(
 VolumeSetAction = speaker_ns.class_(
     "VolumeSetAction", automation.Action, cg.Parented.template(Speaker)
 )
+MuteOnAction = speaker_ns.class_(
+    "MuteOnAction", automation.Action, cg.Parented.template(Speaker)
+)
+MuteOffAction = speaker_ns.class_(
+    "MuteOffAction", automation.Action, cg.Parented.template(Speaker)
+)
 
 
 IsPlayingCondition = speaker_ns.class_("IsPlayingCondition", automation.Condition)
@@ -33,7 +42,9 @@ IsStoppedCondition = speaker_ns.class_("IsStoppedCondition", automation.Conditio
 
 
 async def setup_speaker_core_(var, config):
-    pass
+    if audio_dac_config := config.get(CONF_AUDIO_DAC):
+        aud_dac = await cg.get_variable(audio_dac_config)
+        cg.add(var.set_audio_dac(aud_dac))
 
 
 async def register_speaker(var, config):
@@ -42,8 +53,11 @@ async def register_speaker(var, config):
     await setup_speaker_core_(var, config)
 
 
-SPEAKER_SCHEMA = cv.Schema({})
-
+SPEAKER_SCHEMA = cv.Schema(
+    {
+        cv.Optional(CONF_AUDIO_DAC): cv.use_id(audio_dac.AudioDac),
+    }
+)
 
 SPEAKER_AUTOMATION_SCHEMA = maybe_simple_id({cv.GenerateID(): cv.use_id(Speaker)})
 
@@ -113,6 +127,15 @@ async def speaker_volume_set_action(config, action_id, template_arg, args):
     return var
 
 
+@automation.register_action(
+    "speaker.mute_off", MuteOffAction, SPEAKER_AUTOMATION_SCHEMA
+)
+@automation.register_action("speaker.mute_on", MuteOnAction, SPEAKER_AUTOMATION_SCHEMA)
+async def speaker_mute_action_to_code(config, action_id, template_arg, args):
+    paren = await cg.get_variable(config[CONF_ID])
+    return cg.new_Pvariable(action_id, template_arg, paren)
+
+
 @coroutine_with_priority(100.0)
 async def to_code(config):
     cg.add_global(speaker_ns.using)
diff --git a/esphome/components/speaker/automation.h b/esphome/components/speaker/automation.h
index 9efda011f2..c083796eea 100644
--- a/esphome/components/speaker/automation.h
+++ b/esphome/components/speaker/automation.h
@@ -39,6 +39,26 @@ template<typename... Ts> class VolumeSetAction : public Action<Ts...>, public Pa
   void play(Ts... x) override { this->parent_->set_volume(this->volume_.value(x...)); }
 };
 
+template<typename... Ts> class MuteOnAction : public Action<Ts...> {
+ public:
+  explicit MuteOnAction(Speaker *speaker) : speaker_(speaker) {}
+
+  void play(Ts... x) override { this->speaker_->set_mute_state(true); }
+
+ protected:
+  Speaker *speaker_;
+};
+
+template<typename... Ts> class MuteOffAction : public Action<Ts...> {
+ public:
+  explicit MuteOffAction(Speaker *speaker) : speaker_(speaker) {}
+
+  void play(Ts... x) override { this->speaker_->set_mute_state(false); }
+
+ protected:
+  Speaker *speaker_;
+};
+
 template<typename... Ts> class StopAction : public Action<Ts...>, public Parented<Speaker> {
  public:
   void play(Ts... x) override { this->parent_->stop(); }
diff --git a/esphome/components/speaker/speaker.h b/esphome/components/speaker/speaker.h
index 9390e4edb7..96843e2d5a 100644
--- a/esphome/components/speaker/speaker.h
+++ b/esphome/components/speaker/speaker.h
@@ -8,7 +8,12 @@
 #include <freertos/FreeRTOS.h>
 #endif
 
+#include "esphome/core/defines.h"
+
 #include "esphome/components/audio/audio.h"
+#ifdef USE_AUDIO_DAC
+#include "esphome/components/audio_dac/audio_dac.h"
+#endif
 
 namespace esphome {
 namespace speaker {
@@ -56,9 +61,35 @@ class Speaker {
   bool is_running() const { return this->state_ == STATE_RUNNING; }
   bool is_stopped() const { return this->state_ == STATE_STOPPED; }
 
-  // Volume control must be implemented by each speaker component, otherwise it will have no effect.
-  virtual void set_volume(float volume) { this->volume_ = volume; };
-  virtual float get_volume() { return this->volume_; }
+  // Volume control is handled by a configured audio dac component. Individual speaker components can
+  // override and implement in software if an audio dac isn't available.
+  virtual void set_volume(float volume) {
+    this->volume_ = volume;
+#ifdef USE_AUDIO_DAC
+    if (this->audio_dac_ != nullptr) {
+      this->audio_dac_->set_volume(volume);
+    }
+#endif
+  };
+  float get_volume() { return this->volume_; }
+
+  virtual void set_mute_state(bool mute_state) {
+    this->mute_state_ = mute_state;
+#ifdef USE_AUDIO_DAC
+    if (this->audio_dac_) {
+      if (mute_state) {
+        this->audio_dac_->set_mute_on();
+      } else {
+        this->audio_dac_->set_mute_off();
+      }
+    }
+#endif
+  }
+  bool get_mute_state() { return this->mute_state_; }
+
+#ifdef USE_AUDIO_DAC
+  void set_audio_dac(audio_dac::AudioDac *audio_dac) { this->audio_dac_ = audio_dac; }
+#endif
 
   void set_audio_stream_info(const audio::AudioStreamInfo &audio_stream_info) {
     this->audio_stream_info_ = audio_stream_info;
@@ -68,6 +99,11 @@ class Speaker {
   State state_{STATE_STOPPED};
   audio::AudioStreamInfo audio_stream_info_;
   float volume_{1.0f};
+  bool mute_state_{false};
+
+#ifdef USE_AUDIO_DAC
+  audio_dac::AudioDac *audio_dac_{nullptr};
+#endif
 };
 
 }  // namespace speaker
diff --git a/tests/components/speaker/test.esp32-ard.yaml b/tests/components/speaker/test.esp32-ard.yaml
index 9a24d00f68..396b4d95ea 100644
--- a/tests/components/speaker/test.esp32-ard.yaml
+++ b/tests/components/speaker/test.esp32-ard.yaml
@@ -1,6 +1,8 @@
 esphome:
   on_boot:
     then:
+      - speaker.mute_on:
+      - speaker.mute_off:
       - if:
           condition: speaker.is_stopped
           then:
diff --git a/tests/components/speaker/test.esp32-c3-ard.yaml b/tests/components/speaker/test.esp32-c3-ard.yaml
index f28014337c..636aeba766 100644
--- a/tests/components/speaker/test.esp32-c3-ard.yaml
+++ b/tests/components/speaker/test.esp32-c3-ard.yaml
@@ -1,6 +1,8 @@
 esphome:
   on_boot:
     then:
+      - speaker.mute_on:
+      - speaker.mute_off:
       - if:
           condition: speaker.is_stopped
           then:
diff --git a/tests/components/speaker/test.esp32-c3-idf.yaml b/tests/components/speaker/test.esp32-c3-idf.yaml
index f28014337c..636aeba766 100644
--- a/tests/components/speaker/test.esp32-c3-idf.yaml
+++ b/tests/components/speaker/test.esp32-c3-idf.yaml
@@ -1,6 +1,8 @@
 esphome:
   on_boot:
     then:
+      - speaker.mute_on:
+      - speaker.mute_off:
       - if:
           condition: speaker.is_stopped
           then:
diff --git a/tests/components/speaker/test.esp32-idf.yaml b/tests/components/speaker/test.esp32-idf.yaml
index 9a24d00f68..b69440b133 100644
--- a/tests/components/speaker/test.esp32-idf.yaml
+++ b/tests/components/speaker/test.esp32-idf.yaml
@@ -1,6 +1,8 @@
 esphome:
   on_boot:
     then:
+      - speaker.mute_on:
+      - speaker.mute_off:
       - if:
           condition: speaker.is_stopped
           then:
@@ -17,8 +19,17 @@ i2s_audio:
   i2s_bclk_pin: 17
   i2s_mclk_pin: 15
 
+i2c:
+  scl: 12
+  sda: 10
+
+audio_dac:
+  - platform: aic3204
+    id: internal_dac
+
 speaker:
   - platform: i2s_audio
-    id: speaker_id
+    id: speaker_with_audio_dac_id
+    audio_dac: internal_dac
     dac_type: external
-    i2s_dout_pin: 13
+    i2s_dout_pin: 14