diff --git a/CODEOWNERS b/CODEOWNERS
index 56ec0a93cb..fce4534d7b 100644
--- a/CODEOWNERS
+++ b/CODEOWNERS
@@ -155,6 +155,7 @@ esphome/components/iaqcore/* @yozik04
 esphome/components/ili9xxx/* @clydebarrow @nielsnl68
 esphome/components/improv_base/* @esphome/core
 esphome/components/improv_serial/* @esphome/core
+esphome/components/ina226/* @Sergio303 @latonita
 esphome/components/ina260/* @mreditor97
 esphome/components/inkbird_ibsth1_mini/* @fkirill
 esphome/components/inkplate6/* @jesserockz
diff --git a/esphome/components/ina226/__init__.py b/esphome/components/ina226/__init__.py
index e69de29bb2..ca1f2caa31 100644
--- a/esphome/components/ina226/__init__.py
+++ b/esphome/components/ina226/__init__.py
@@ -0,0 +1 @@
+CODEOWNERS = ["@Sergio303", "@latonita"]
diff --git a/esphome/components/ina226/ina226.cpp b/esphome/components/ina226/ina226.cpp
index 1fb859da66..94016ad302 100644
--- a/esphome/components/ina226/ina226.cpp
+++ b/esphome/components/ina226/ina226.cpp
@@ -33,31 +33,37 @@ static const uint8_t INA226_REGISTER_POWER = 0x03;
 static const uint8_t INA226_REGISTER_CURRENT = 0x04;
 static const uint8_t INA226_REGISTER_CALIBRATION = 0x05;
 
+static const uint16_t INA226_ADC_TIMES[] = {140, 204, 332, 588, 1100, 2116, 4156, 8244};
+static const uint16_t INA226_ADC_AVG_SAMPLES[] = {1, 4, 16, 64, 128, 256, 512, 1024};
+
 void INA226Component::setup() {
   ESP_LOGCONFIG(TAG, "Setting up INA226...");
-  // Config Register
-  // 0bx000000000000000 << 15 RESET Bit (1 -> trigger reset)
-  if (!this->write_byte_16(INA226_REGISTER_CONFIG, 0x8000)) {
+
+  ConfigurationRegister config;
+
+  config.reset = 1;
+  if (!this->write_byte_16(INA226_REGISTER_CONFIG, config.raw)) {
     this->mark_failed();
     return;
   }
   delay(1);
 
-  uint16_t config = 0x0000;
+  config.raw = 0;
+  config.reserved = 0b100;  // as per datasheet
 
   // Averaging Mode AVG Bit Settings[11:9] (000 -> 1 sample, 001 -> 4 sample, 111 -> 1024 samples)
-  config |= 0b0000001000000000;
+  config.avg_samples = this->adc_avg_samples_;
 
   // Bus Voltage Conversion Time VBUSCT Bit Settings [8:6] (100 -> 1.1ms, 111 -> 8.244 ms)
-  config |= 0b0000000100000000;
+  config.bus_voltage_conversion_time = this->adc_time_;
 
   // Shunt Voltage Conversion Time VSHCT Bit Settings [5:3] (100 -> 1.1ms, 111 -> 8.244 ms)
-  config |= 0b0000000000100000;
+  config.shunt_voltage_conversion_time = this->adc_time_;
 
   // Mode Settings [2:0] Combinations (111 -> Shunt and Bus, Continuous)
-  config |= 0b0000000000000111;
+  config.mode = 0b111;
 
-  if (!this->write_byte_16(INA226_REGISTER_CONFIG, config)) {
+  if (!this->write_byte_16(INA226_REGISTER_CONFIG, config.raw)) {
     this->mark_failed();
     return;
   }
@@ -87,6 +93,9 @@ void INA226Component::dump_config() {
   }
   LOG_UPDATE_INTERVAL(this);
 
+  ESP_LOGCONFIG(TAG, "  ADC Conversion Time: %d", INA226_ADC_TIMES[this->adc_time_ & 0b111]);
+  ESP_LOGCONFIG(TAG, "  ADC Averaging Samples: %d", INA226_ADC_AVG_SAMPLES[this->adc_avg_samples_ & 0b111]);
+
   LOG_SENSOR("  ", "Bus Voltage", this->bus_voltage_sensor_);
   LOG_SENSOR("  ", "Shunt Voltage", this->shunt_voltage_sensor_);
   LOG_SENSOR("  ", "Current", this->current_sensor_);
@@ -102,7 +111,9 @@ void INA226Component::update() {
       this->status_set_warning();
       return;
     }
-    float bus_voltage_v = int16_t(raw_bus_voltage) * 0.00125f;
+    // Convert for 2's compliment and signed value (though always positive)
+    float bus_voltage_v = this->twos_complement_(raw_bus_voltage, 16);
+    bus_voltage_v *= 0.00125f;
     this->bus_voltage_sensor_->publish_state(bus_voltage_v);
   }
 
@@ -112,7 +123,9 @@ void INA226Component::update() {
       this->status_set_warning();
       return;
     }
-    float shunt_voltage_v = int16_t(raw_shunt_voltage) * 0.0000025f;
+    // Convert for 2's compliment and signed value
+    float shunt_voltage_v = this->twos_complement_(raw_shunt_voltage, 16);
+    shunt_voltage_v *= 0.0000025f;
     this->shunt_voltage_sensor_->publish_state(shunt_voltage_v);
   }
 
@@ -122,7 +135,9 @@ void INA226Component::update() {
       this->status_set_warning();
       return;
     }
-    float current_ma = int16_t(raw_current) * (this->calibration_lsb_ / 1000.0f);
+    // Convert for 2's compliment and signed value
+    float current_ma = this->twos_complement_(raw_current, 16);
+    current_ma *= (this->calibration_lsb_ / 1000.0f);
     this->current_sensor_->publish_state(current_ma / 1000.0f);
   }
 
@@ -139,5 +154,12 @@ void INA226Component::update() {
   this->status_clear_warning();
 }
 
+int32_t INA226Component::twos_complement_(int32_t val, uint8_t bits) {
+  if (val & ((uint32_t) 1 << (bits - 1))) {
+    val -= (uint32_t) 1 << bits;
+  }
+  return val;
+}
+
 }  // namespace ina226
 }  // namespace esphome
diff --git a/esphome/components/ina226/ina226.h b/esphome/components/ina226/ina226.h
index a551cb3430..2af9c8c195 100644
--- a/esphome/components/ina226/ina226.h
+++ b/esphome/components/ina226/ina226.h
@@ -7,6 +7,40 @@
 namespace esphome {
 namespace ina226 {
 
+enum AdcTime : uint16_t {
+  ADC_TIME_140US = 0,
+  ADC_TIME_204US = 1,
+  ADC_TIME_332US = 2,
+  ADC_TIME_588US = 3,
+  ADC_TIME_1100US = 4,
+  ADC_TIME_2116US = 5,
+  ADC_TIME_4156US = 6,
+  ADC_TIME_8244US = 7
+};
+
+enum AdcAvgSamples : uint16_t {
+  ADC_AVG_SAMPLES_1 = 0,
+  ADC_AVG_SAMPLES_4 = 1,
+  ADC_AVG_SAMPLES_16 = 2,
+  ADC_AVG_SAMPLES_64 = 3,
+  ADC_AVG_SAMPLES_128 = 4,
+  ADC_AVG_SAMPLES_256 = 5,
+  ADC_AVG_SAMPLES_512 = 6,
+  ADC_AVG_SAMPLES_1024 = 7
+};
+
+union ConfigurationRegister {
+  uint16_t raw;
+  struct {
+    uint16_t mode : 3;
+    AdcTime shunt_voltage_conversion_time : 3;
+    AdcTime bus_voltage_conversion_time : 3;
+    AdcAvgSamples avg_samples : 3;
+    uint16_t reserved : 3;
+    uint16_t reset : 1;
+  } __attribute__((packed));
+};
+
 class INA226Component : public PollingComponent, public i2c::I2CDevice {
  public:
   void setup() override;
@@ -16,6 +50,9 @@ class INA226Component : public PollingComponent, public i2c::I2CDevice {
 
   void set_shunt_resistance_ohm(float shunt_resistance_ohm) { shunt_resistance_ohm_ = shunt_resistance_ohm; }
   void set_max_current_a(float max_current_a) { max_current_a_ = max_current_a; }
+  void set_adc_time(AdcTime time) { adc_time_ = time; }
+  void set_adc_avg_samples(AdcAvgSamples samples) { adc_avg_samples_ = samples; }
+
   void set_bus_voltage_sensor(sensor::Sensor *bus_voltage_sensor) { bus_voltage_sensor_ = bus_voltage_sensor; }
   void set_shunt_voltage_sensor(sensor::Sensor *shunt_voltage_sensor) { shunt_voltage_sensor_ = shunt_voltage_sensor; }
   void set_current_sensor(sensor::Sensor *current_sensor) { current_sensor_ = current_sensor; }
@@ -24,11 +61,15 @@ class INA226Component : public PollingComponent, public i2c::I2CDevice {
  protected:
   float shunt_resistance_ohm_;
   float max_current_a_;
+  AdcTime adc_time_{AdcTime::ADC_TIME_1100US};
+  AdcAvgSamples adc_avg_samples_{AdcAvgSamples::ADC_AVG_SAMPLES_4};
   uint32_t calibration_lsb_;
   sensor::Sensor *bus_voltage_sensor_{nullptr};
   sensor::Sensor *shunt_voltage_sensor_{nullptr};
   sensor::Sensor *current_sensor_{nullptr};
   sensor::Sensor *power_sensor_{nullptr};
+
+  int32_t twos_complement_(int32_t val, uint8_t bits);
 };
 
 }  // namespace ina226
diff --git a/esphome/components/ina226/sensor.py b/esphome/components/ina226/sensor.py
index ee4036ce7e..32fca504a9 100644
--- a/esphome/components/ina226/sensor.py
+++ b/esphome/components/ina226/sensor.py
@@ -20,11 +20,44 @@ from esphome.const import (
 
 DEPENDENCIES = ["i2c"]
 
+CONF_ADC_AVERAGING = "adc_averaging"
+CONF_ADC_TIME = "adc_time"
+
 ina226_ns = cg.esphome_ns.namespace("ina226")
 INA226Component = ina226_ns.class_(
     "INA226Component", cg.PollingComponent, i2c.I2CDevice
 )
 
+AdcTime = ina226_ns.enum("AdcTime")
+ADC_TIMES = {
+    140: AdcTime.ADC_TIME_140US,
+    204: AdcTime.ADC_TIME_204US,
+    332: AdcTime.ADC_TIME_332US,
+    588: AdcTime.ADC_TIME_588US,
+    1100: AdcTime.ADC_TIME_1100US,
+    2116: AdcTime.ADC_TIME_2116US,
+    4156: AdcTime.ADC_TIME_4156US,
+    8244: AdcTime.ADC_TIME_8244US,
+}
+
+AdcAvgSamples = ina226_ns.enum("AdcAvgSamples")
+ADC_AVG_SAMPLES = {
+    1: AdcAvgSamples.ADC_AVG_SAMPLES_1,
+    4: AdcAvgSamples.ADC_AVG_SAMPLES_4,
+    16: AdcAvgSamples.ADC_AVG_SAMPLES_16,
+    64: AdcAvgSamples.ADC_AVG_SAMPLES_64,
+    128: AdcAvgSamples.ADC_AVG_SAMPLES_128,
+    256: AdcAvgSamples.ADC_AVG_SAMPLES_256,
+    512: AdcAvgSamples.ADC_AVG_SAMPLES_512,
+    1024: AdcAvgSamples.ADC_AVG_SAMPLES_1024,
+}
+
+
+def validate_adc_time(value):
+    value = cv.positive_time_period_microseconds(value).total_microseconds
+    return cv.enum(ADC_TIMES, int=True)(value)
+
+
 CONFIG_SCHEMA = (
     cv.Schema(
         {
@@ -59,6 +92,10 @@ CONFIG_SCHEMA = (
             cv.Optional(CONF_MAX_CURRENT, default=3.2): cv.All(
                 cv.current, cv.Range(min=0.0)
             ),
+            cv.Optional(CONF_ADC_TIME, default="1100 us"): validate_adc_time,
+            cv.Optional(CONF_ADC_AVERAGING, default=4): cv.enum(
+                ADC_AVG_SAMPLES, int=True
+            ),
         }
     )
     .extend(cv.polling_component_schema("60s"))
@@ -72,8 +109,9 @@ async def to_code(config):
     await i2c.register_i2c_device(var, config)
 
     cg.add(var.set_shunt_resistance_ohm(config[CONF_SHUNT_RESISTANCE]))
-
     cg.add(var.set_max_current_a(config[CONF_MAX_CURRENT]))
+    cg.add(var.set_adc_time(config[CONF_ADC_TIME]))
+    cg.add(var.set_adc_avg_samples(config[CONF_ADC_AVERAGING]))
 
     if CONF_BUS_VOLTAGE in config:
         sens = await sensor.new_sensor(config[CONF_BUS_VOLTAGE])