diff --git a/homeassistant/components/config/label_registry.py b/homeassistant/components/config/label_registry.py
index d1bb74393af..1d5d526016d 100644
--- a/homeassistant/components/config/label_registry.py
+++ b/homeassistant/components/config/label_registry.py
@@ -10,6 +10,35 @@ from homeassistant.core import HomeAssistant, callback
 from homeassistant.helpers import config_validation as cv
 from homeassistant.helpers.label_registry import LabelEntry, async_get
 
+SUPPORTED_LABEL_THEME_COLORS = {
+    "primary",
+    "accent",
+    "disabled",
+    "red",
+    "pink",
+    "purple",
+    "deep-purple",
+    "indigo",
+    "blue",
+    "light-blue",
+    "cyan",
+    "teal",
+    "green",
+    "light-green",
+    "lime",
+    "yellow",
+    "amber",
+    "orange",
+    "deep-orange",
+    "brown",
+    "light-grey",
+    "grey",
+    "dark-grey",
+    "blue-grey",
+    "black",
+    "white",
+}
+
 
 @callback
 def async_setup(hass: HomeAssistant) -> bool:
@@ -42,7 +71,9 @@ def websocket_list_labels(
     {
         vol.Required("type"): "config/label_registry/create",
         vol.Required("name"): str,
-        vol.Optional("color"): vol.Any(cv.color_hex, None),
+        vol.Optional("color"): vol.Any(
+            cv.color_hex, vol.In(SUPPORTED_LABEL_THEME_COLORS), None
+        ),
         vol.Optional("description"): vol.Any(str, None),
         vol.Optional("icon"): vol.Any(cv.icon, None),
     }
@@ -93,7 +124,9 @@ def websocket_delete_label(
     {
         vol.Required("type"): "config/label_registry/update",
         vol.Required("label_id"): str,
-        vol.Optional("color"): vol.Any(cv.color_hex, None),
+        vol.Optional("color"): vol.Any(
+            cv.color_hex, vol.In(SUPPORTED_LABEL_THEME_COLORS), None
+        ),
         vol.Optional("description"): vol.Any(str, None),
         vol.Optional("icon"): vol.Any(cv.icon, None),
         vol.Optional("name"): str,
diff --git a/tests/components/config/test_label_registry.py b/tests/components/config/test_label_registry.py
index aa082a3de38..040b3bfe28a 100644
--- a/tests/components/config/test_label_registry.py
+++ b/tests/components/config/test_label_registry.py
@@ -99,6 +99,27 @@ async def test_create_label(
         "name": "MOCKERY",
     }
 
+    await client.send_json_auto_id(
+        {
+            "name": "MAGIC",
+            "type": "config/label_registry/create",
+            "color": "indigo",
+            "description": "This is the third label",
+            "icon": "mdi:three",
+        }
+    )
+
+    msg = await client.receive_json()
+
+    assert len(label_registry.labels) == 3
+    assert msg["result"] == {
+        "color": "indigo",
+        "description": "This is the third label",
+        "icon": "mdi:three",
+        "label_id": "magic",
+        "name": "MAGIC",
+    }
+
 
 async def test_create_label_with_name_already_in_use(
     client: MockHAClientWebSocket,
@@ -210,6 +231,28 @@ async def test_update_label(
         "name": "UPDATED AGAIN",
     }
 
+    await client.send_json_auto_id(
+        {
+            "label_id": label.label_id,
+            "name": "UPDATED YET AGAIN",
+            "icon": None,
+            "color": "primary",
+            "description": None,
+            "type": "config/label_registry/update",
+        }
+    )
+
+    msg = await client.receive_json()
+
+    assert len(label_registry.labels) == 1
+    assert msg["result"] == {
+        "color": "primary",
+        "description": None,
+        "icon": None,
+        "label_id": "mock",
+        "name": "UPDATED YET AGAIN",
+    }
+
 
 async def test_update_with_name_already_in_use(
     client: MockHAClientWebSocket,