diff --git a/esphome/components/ssd1306_base/__init__.py b/esphome/components/ssd1306_base/__init__.py
index 9652d01efa..bc2e558f1b 100644
--- a/esphome/components/ssd1306_base/__init__.py
+++ b/esphome/components/ssd1306_base/__init__.py
@@ -8,12 +8,19 @@ from esphome.const import (
     CONF_MODEL,
     CONF_RESET_PIN,
     CONF_BRIGHTNESS,
+    CONF_CONTRAST,
+    CONF_INVERT,
 )
 
 ssd1306_base_ns = cg.esphome_ns.namespace("ssd1306_base")
 SSD1306 = ssd1306_base_ns.class_("SSD1306", cg.PollingComponent, display.DisplayBuffer)
 SSD1306Model = ssd1306_base_ns.enum("SSD1306Model")
 
+CONF_FLIP_X = "flip_x"
+CONF_FLIP_Y = "flip_y"
+CONF_OFFSET_X = "offset_x"
+CONF_OFFSET_Y = "offset_y"
+
 MODELS = {
     "SSD1306_128X32": SSD1306Model.SSD1306_MODEL_128_32,
     "SSD1306_128X64": SSD1306Model.SSD1306_MODEL_128_64,
@@ -23,21 +30,44 @@ MODELS = {
     "SH1106_128X64": SSD1306Model.SH1106_MODEL_128_64,
     "SH1106_96X16": SSD1306Model.SH1106_MODEL_96_16,
     "SH1106_64X48": SSD1306Model.SH1106_MODEL_64_48,
+    "SSD1305_128X32": SSD1306Model.SSD1305_MODEL_128_32,
+    "SSD1305_128X64": SSD1306Model.SSD1305_MODEL_128_64,
 }
 
 SSD1306_MODEL = cv.enum(MODELS, upper=True, space="_")
 
+
+def _validate(value):
+    model = value[CONF_MODEL]
+    if model not in ("SSD1305_128X32", "SSD1305_128X64"):
+        # Contrast is default value (1.0) while brightness is not
+        # Indicates user is using old `brightness` option
+        if value[CONF_BRIGHTNESS] != 1.0 and value[CONF_CONTRAST] == 1.0:
+            raise cv.Invalid(
+                "SSD1306/SH1106 no longer accepts brightness option, "
+                'please use "contrast" instead.'
+            )
+
+    return value
+
+
 SSD1306_SCHEMA = display.FULL_DISPLAY_SCHEMA.extend(
     {
         cv.Required(CONF_MODEL): SSD1306_MODEL,
         cv.Optional(CONF_RESET_PIN): pins.gpio_output_pin_schema,
         cv.Optional(CONF_BRIGHTNESS, default=1.0): cv.percentage,
+        cv.Optional(CONF_CONTRAST, default=1.0): cv.percentage,
         cv.Optional(CONF_EXTERNAL_VCC): cv.boolean,
+        cv.Optional(CONF_FLIP_X, default=True): cv.boolean,
+        cv.Optional(CONF_FLIP_Y, default=True): cv.boolean,
+        cv.Optional(CONF_OFFSET_X, default=0): cv.int_range(min=0, max=15),
+        cv.Optional(CONF_OFFSET_Y, default=0): cv.int_range(min=0, max=15),
+        cv.Optional(CONF_INVERT, default=False): cv.boolean,
     }
 ).extend(cv.polling_component_schema("1s"))
 
 
-async def setup_ssd1036(var, config):
+async def setup_ssd1306(var, config):
     await cg.register_component(var, config)
     await display.register_display(var, config)
 
@@ -47,8 +77,20 @@ async def setup_ssd1036(var, config):
         cg.add(var.set_reset_pin(reset))
     if CONF_BRIGHTNESS in config:
         cg.add(var.init_brightness(config[CONF_BRIGHTNESS]))
+    if CONF_CONTRAST in config:
+        cg.add(var.init_contrast(config[CONF_CONTRAST]))
     if CONF_EXTERNAL_VCC in config:
         cg.add(var.set_external_vcc(config[CONF_EXTERNAL_VCC]))
+    if CONF_FLIP_X in config:
+        cg.add(var.init_flip_x(config[CONF_FLIP_X]))
+    if CONF_FLIP_Y in config:
+        cg.add(var.init_flip_y(config[CONF_FLIP_X]))
+    if CONF_OFFSET_X in config:
+        cg.add(var.init_offset_x(config[CONF_OFFSET_X]))
+    if CONF_OFFSET_Y in config:
+        cg.add(var.init_offset_y(config[CONF_OFFSET_Y]))
+    if CONF_INVERT in config:
+        cg.add(var.init_invert(config[CONF_INVERT]))
     if CONF_LAMBDA in config:
         lambda_ = await cg.process_lambda(
             config[CONF_LAMBDA], [(display.DisplayBufferRef, "it")], return_type=cg.void
diff --git a/esphome/components/ssd1306_base/ssd1306_base.cpp b/esphome/components/ssd1306_base/ssd1306_base.cpp
index d321933e8f..b1a2538ebd 100644
--- a/esphome/components/ssd1306_base/ssd1306_base.cpp
+++ b/esphome/components/ssd1306_base/ssd1306_base.cpp
@@ -8,12 +8,13 @@ namespace ssd1306_base {
 static const char *const TAG = "ssd1306";
 
 static const uint8_t SSD1306_MAX_CONTRAST = 255;
+static const uint8_t SSD1305_MAX_BRIGHTNESS = 255;
 
 static const uint8_t SSD1306_COMMAND_DISPLAY_OFF = 0xAE;
 static const uint8_t SSD1306_COMMAND_DISPLAY_ON = 0xAF;
 static const uint8_t SSD1306_COMMAND_SET_DISPLAY_CLOCK_DIV = 0xD5;
 static const uint8_t SSD1306_COMMAND_SET_MULTIPLEX = 0xA8;
-static const uint8_t SSD1306_COMMAND_SET_DISPLAY_OFFSET = 0xD3;
+static const uint8_t SSD1306_COMMAND_SET_DISPLAY_OFFSET_Y = 0xD3;
 static const uint8_t SSD1306_COMMAND_SET_START_LINE = 0x40;
 static const uint8_t SSD1306_COMMAND_CHARGE_PUMP = 0x8D;
 static const uint8_t SSD1306_COMMAND_MEMORY_MODE = 0x20;
@@ -28,33 +29,60 @@ static const uint8_t SSD1306_COMMAND_DISPLAY_ALL_ON_RESUME = 0xA4;
 static const uint8_t SSD1306_COMMAND_DEACTIVATE_SCROLL = 0x2E;
 static const uint8_t SSD1306_COMMAND_COLUMN_ADDRESS = 0x21;
 static const uint8_t SSD1306_COMMAND_PAGE_ADDRESS = 0x22;
+static const uint8_t SSD1306_COMMAND_NORMAL_DISPLAY = 0xA6;
+static const uint8_t SSD1306_COMMAND_INVERSE_DISPLAY = 0xA7;
 
-static const uint8_t SSD1306_NORMAL_DISPLAY = 0xA6;
+static const uint8_t SSD1305_COMMAND_SET_BRIGHTNESS = 0x82;
+static const uint8_t SSD1305_COMMAND_SET_AREA_COLOR = 0xD8;
 
 void SSD1306::setup() {
   this->init_internal_(this->get_buffer_length_());
 
+  // Turn off display during initialization (0xAE)
   this->command(SSD1306_COMMAND_DISPLAY_OFF);
-  this->command(SSD1306_COMMAND_SET_DISPLAY_CLOCK_DIV);
-  this->command(0x80);  // suggested ratio
 
+  // Set oscillator frequency to 4'b1000 with no clock division (0xD5)
+  this->command(SSD1306_COMMAND_SET_DISPLAY_CLOCK_DIV);
+  // Oscillator frequency <= 4'b1000, no clock division
+  this->command(0x80);
+
+  // Enable low power display mode for SSD1305 (0xD8)
+  if (this->is_ssd1305_()) {
+    this->command(SSD1305_COMMAND_SET_AREA_COLOR);
+    this->command(0x05);
+  }
+
+  // Set mux ratio to [Y pixels - 1] (0xA8)
   this->command(SSD1306_COMMAND_SET_MULTIPLEX);
   this->command(this->get_height_internal() - 1);
 
-  this->command(SSD1306_COMMAND_SET_DISPLAY_OFFSET);
-  this->command(0x00);                                   // no offset
-  this->command(SSD1306_COMMAND_SET_START_LINE | 0x00);  // start at line 0
-  this->command(SSD1306_COMMAND_CHARGE_PUMP);
-  if (this->external_vcc_)
-    this->command(0x10);
-  else
-    this->command(0x14);
+  // Set Y offset (0xD3)
+  this->command(SSD1306_COMMAND_SET_DISPLAY_OFFSET_Y);
+  this->command(0x00 + this->offset_y_);
+  // Set start line at line 0 (0x40)
+  this->command(SSD1306_COMMAND_SET_START_LINE | 0x00);
 
+  // SSD1305 does not have charge pump
+  if (!this->is_ssd1305_()) {
+    // Enable charge pump (0x8D)
+    this->command(SSD1306_COMMAND_CHARGE_PUMP);
+    if (this->external_vcc_)
+      this->command(0x10);
+    else
+      this->command(0x14);
+  }
+
+  // Set addressing mode to horizontal (0x20)
   this->command(SSD1306_COMMAND_MEMORY_MODE);
   this->command(0x00);
-  this->command(SSD1306_COMMAND_SEGRE_MAP | 0x01);
-  this->command(SSD1306_COMMAND_COM_SCAN_DEC);
 
+  // X flip mode (0xA0, 0xA1)
+  this->command(SSD1306_COMMAND_SEGRE_MAP | this->flip_x_);
+
+  // Y flip mode (0xC0, 0xC8)
+  this->command(SSD1306_COMMAND_COM_SCAN_INC | (this->flip_y_ << 3));
+
+  // Set pin configuration (0xDA)
   this->command(SSD1306_COMMAND_SET_COM_PINS);
   switch (this->model_) {
     case SSD1306_MODEL_128_32:
@@ -67,25 +95,37 @@ void SSD1306::setup() {
     case SH1106_MODEL_128_64:
     case SSD1306_MODEL_64_48:
     case SH1106_MODEL_64_48:
+    case SSD1305_MODEL_128_32:
+    case SSD1305_MODEL_128_64:
       this->command(0x12);
       break;
   }
 
+  // Pre-charge period (0xD9)
   this->command(SSD1306_COMMAND_SET_PRE_CHARGE);
   if (this->external_vcc_)
     this->command(0x22);
   else
     this->command(0xF1);
 
+  // Set V_COM (0xDB)
   this->command(SSD1306_COMMAND_SET_VCOM_DETECT);
   this->command(0x00);
 
+  // Display output follow RAM (0xA4)
   this->command(SSD1306_COMMAND_DISPLAY_ALL_ON_RESUME);
-  this->command(SSD1306_NORMAL_DISPLAY);
 
+  // Inverse display mode (0xA6, 0xA7)
+  this->command(SSD1306_COMMAND_NORMAL_DISPLAY | this->invert_);
+
+  // Disable scrolling mode (0x2E)
   this->command(SSD1306_COMMAND_DEACTIVATE_SCROLL);
 
-  set_brightness(this->brightness_);
+  // Contrast and brighrness
+  // SSD1306 does not have brightness setting
+  set_contrast(this->contrast_);
+  if (this->is_ssd1305_())
+    set_brightness(this->brightness_);
 
   this->fill(Color::BLACK);  // clear display - ensures we do not see garbage at power-on
   this->display();           // ...write buffer, which actually clears the display's memory
@@ -101,12 +141,12 @@ void SSD1306::display() {
   this->command(SSD1306_COMMAND_COLUMN_ADDRESS);
   switch (this->model_) {
     case SSD1306_MODEL_64_48:
-      this->command(0x20);
-      this->command(0x20 + this->get_width_internal() - 1);
+      this->command(0x20 + this->offset_x_);
+      this->command(0x20 + this->offset_x_ + this->get_width_internal() - 1);
       break;
     default:
-      this->command(0);  // Page start address, 0
-      this->command(this->get_width_internal() - 1);
+      this->command(0 + this->offset_x_);  // Page start address, 0
+      this->command(this->get_width_internal() + this->offset_x_ - 1);
       break;
   }
 
@@ -122,16 +162,28 @@ bool SSD1306::is_sh1106_() const {
   return this->model_ == SH1106_MODEL_96_16 || this->model_ == SH1106_MODEL_128_32 ||
          this->model_ == SH1106_MODEL_128_64;
 }
+bool SSD1306::is_ssd1305_() const {
+  return this->model_ == SSD1305_MODEL_128_64 || this->model_ == SSD1305_MODEL_128_64;
+}
 void SSD1306::update() {
   this->do_update_();
   this->display();
 }
+void SSD1306::set_contrast(float contrast) {
+  // validation
+  this->contrast_ = clamp(contrast, 0.0F, 1.0F);
+  // now write the new contrast level to the display (0x81)
+  this->command(SSD1306_COMMAND_SET_CONTRAST);
+  this->command(int(SSD1306_MAX_CONTRAST * (this->contrast_)));
+}
 void SSD1306::set_brightness(float brightness) {
   // validation
+  if (!this->is_ssd1305_())
+    return;
   this->brightness_ = clamp(brightness, 0.0F, 1.0F);
-  // now write the new brightness level to the display
-  this->command(SSD1306_COMMAND_SET_CONTRAST);
-  this->command(int(SSD1306_MAX_CONTRAST * (this->brightness_)));
+  // now write the new brightness level to the display (0x82)
+  this->command(SSD1305_COMMAND_SET_BRIGHTNESS);
+  this->command(int(SSD1305_MAX_BRIGHTNESS * (this->brightness_)));
 }
 bool SSD1306::is_on() { return this->is_on_; }
 void SSD1306::turn_on() {
@@ -146,9 +198,11 @@ int SSD1306::get_height_internal() {
   switch (this->model_) {
     case SSD1306_MODEL_128_32:
     case SH1106_MODEL_128_32:
+    case SSD1305_MODEL_128_32:
       return 32;
     case SSD1306_MODEL_128_64:
     case SH1106_MODEL_128_64:
+    case SSD1305_MODEL_128_64:
       return 64;
     case SSD1306_MODEL_96_16:
     case SH1106_MODEL_96_16:
@@ -166,6 +220,8 @@ int SSD1306::get_width_internal() {
     case SH1106_MODEL_128_32:
     case SSD1306_MODEL_128_64:
     case SH1106_MODEL_128_64:
+    case SSD1305_MODEL_128_32:
+    case SSD1305_MODEL_128_64:
       return 128;
     case SSD1306_MODEL_96_16:
     case SH1106_MODEL_96_16:
@@ -227,6 +283,10 @@ const char *SSD1306::model_str_() {
       return "SH1106 96x16";
     case SH1106_MODEL_64_48:
       return "SH1106 64x48";
+    case SSD1305_MODEL_128_32:
+      return "SSD1305 128x32";
+    case SSD1305_MODEL_128_64:
+      return "SSD1305 128x32";
     default:
       return "Unknown";
   }
diff --git a/esphome/components/ssd1306_base/ssd1306_base.h b/esphome/components/ssd1306_base/ssd1306_base.h
index 2c54af7a67..54cb10d153 100644
--- a/esphome/components/ssd1306_base/ssd1306_base.h
+++ b/esphome/components/ssd1306_base/ssd1306_base.h
@@ -16,6 +16,8 @@ enum SSD1306Model {
   SH1106_MODEL_128_64,
   SH1106_MODEL_96_16,
   SH1106_MODEL_64_48,
+  SSD1305_MODEL_128_32,
+  SSD1305_MODEL_128_64,
 };
 
 class SSD1306 : public PollingComponent, public display::DisplayBuffer {
@@ -29,8 +31,15 @@ class SSD1306 : public PollingComponent, public display::DisplayBuffer {
   void set_model(SSD1306Model model) { this->model_ = model; }
   void set_reset_pin(GPIOPin *reset_pin) { this->reset_pin_ = reset_pin; }
   void set_external_vcc(bool external_vcc) { this->external_vcc_ = external_vcc; }
+  void init_contrast(float contrast) { this->contrast_ = contrast; }
+  void set_contrast(float contrast);
   void init_brightness(float brightness) { this->brightness_ = brightness; }
   void set_brightness(float brightness);
+  void init_flip_x(boolean flip_x) { this->flip_x_ = flip_x; }
+  void init_flip_y(boolean flip_y) { this->flip_y_ = flip_y; }
+  void init_offset_x(uint8_t offset_x) { this->offset_x_ = offset_x; }
+  void init_offset_y(uint8_t offset_y) { this->offset_y_ = offset_y; }
+  void init_invert(boolean invert) { this->invert_ = invert; }
   bool is_on();
   void turn_on();
   void turn_off();
@@ -43,6 +52,7 @@ class SSD1306 : public PollingComponent, public display::DisplayBuffer {
   void init_reset_();
 
   bool is_sh1106_() const;
+  bool is_ssd1305_() const;
 
   void draw_absolute_pixel_internal(int x, int y, Color color) override;
 
@@ -55,7 +65,13 @@ class SSD1306 : public PollingComponent, public display::DisplayBuffer {
   GPIOPin *reset_pin_{nullptr};
   bool external_vcc_{false};
   bool is_on_{false};
+  float contrast_{1.0};
   float brightness_{1.0};
+  bool flip_x_{true};
+  bool flip_y_{true};
+  uint8_t offset_x_{0};
+  uint8_t offset_y_{0};
+  bool invert_{false};
 };
 
 }  // namespace ssd1306_base
diff --git a/esphome/components/ssd1306_i2c/display.py b/esphome/components/ssd1306_i2c/display.py
index 4b51a90431..c51ab5f93e 100644
--- a/esphome/components/ssd1306_i2c/display.py
+++ b/esphome/components/ssd1306_i2c/display.py
@@ -1,6 +1,7 @@
 import esphome.codegen as cg
 import esphome.config_validation as cv
 from esphome.components import ssd1306_base, i2c
+from esphome.components.ssd1306_base import _validate
 from esphome.const import CONF_ID, CONF_LAMBDA, CONF_PAGES
 
 AUTO_LOAD = ["ssd1306_base"]
@@ -18,10 +19,11 @@ CONFIG_SCHEMA = cv.All(
     .extend(cv.COMPONENT_SCHEMA)
     .extend(i2c.i2c_device_schema(0x3C)),
     cv.has_at_most_one_key(CONF_PAGES, CONF_LAMBDA),
+    _validate,
 )
 
 
 async def to_code(config):
     var = cg.new_Pvariable(config[CONF_ID])
-    await ssd1306_base.setup_ssd1036(var, config)
+    await ssd1306_base.setup_ssd1306(var, config)
     await i2c.register_i2c_device(var, config)
diff --git a/esphome/components/ssd1306_i2c/ssd1306_i2c.cpp b/esphome/components/ssd1306_i2c/ssd1306_i2c.cpp
index 45fda4870e..fddea25fc8 100644
--- a/esphome/components/ssd1306_i2c/ssd1306_i2c.cpp
+++ b/esphome/components/ssd1306_i2c/ssd1306_i2c.cpp
@@ -25,6 +25,11 @@ void I2CSSD1306::dump_config() {
   ESP_LOGCONFIG(TAG, "  Model: %s", this->model_str_());
   LOG_PIN("  Reset Pin: ", this->reset_pin_);
   ESP_LOGCONFIG(TAG, "  External VCC: %s", YESNO(this->external_vcc_));
+  ESP_LOGCONFIG(TAG, "  Flip X: %s", YESNO(this->flip_x_));
+  ESP_LOGCONFIG(TAG, "  Flip Y: %s", YESNO(this->flip_y_));
+  ESP_LOGCONFIG(TAG, "  Offset X: %d", this->offset_x_);
+  ESP_LOGCONFIG(TAG, "  Offset Y: %d", this->offset_y_);
+  ESP_LOGCONFIG(TAG, "  Inverted Color: %s", YESNO(this->invert_));
   LOG_UPDATE_INTERVAL(this);
 
   if (this->error_code_ == COMMUNICATION_FAILED) {
diff --git a/esphome/components/ssd1306_spi/display.py b/esphome/components/ssd1306_spi/display.py
index f7dd1553ba..0af1168bde 100644
--- a/esphome/components/ssd1306_spi/display.py
+++ b/esphome/components/ssd1306_spi/display.py
@@ -2,6 +2,7 @@ import esphome.codegen as cg
 import esphome.config_validation as cv
 from esphome import pins
 from esphome.components import spi, ssd1306_base
+from esphome.components.ssd1306_base import _validate
 from esphome.const import CONF_DC_PIN, CONF_ID, CONF_LAMBDA, CONF_PAGES
 
 AUTO_LOAD = ["ssd1306_base"]
@@ -20,12 +21,13 @@ CONFIG_SCHEMA = cv.All(
     .extend(cv.COMPONENT_SCHEMA)
     .extend(spi.spi_device_schema()),
     cv.has_at_most_one_key(CONF_PAGES, CONF_LAMBDA),
+    _validate,
 )
 
 
 async def to_code(config):
     var = cg.new_Pvariable(config[CONF_ID])
-    await ssd1306_base.setup_ssd1036(var, config)
+    await ssd1306_base.setup_ssd1306(var, config)
     await spi.register_spi_device(var, config)
 
     dc = await cg.gpio_pin_expression(config[CONF_DC_PIN])
diff --git a/esphome/components/ssd1306_spi/ssd1306_spi.cpp b/esphome/components/ssd1306_spi/ssd1306_spi.cpp
index 5ef25b8139..33d474a8ee 100644
--- a/esphome/components/ssd1306_spi/ssd1306_spi.cpp
+++ b/esphome/components/ssd1306_spi/ssd1306_spi.cpp
@@ -22,6 +22,11 @@ void SPISSD1306::dump_config() {
   LOG_PIN("  DC Pin: ", this->dc_pin_);
   LOG_PIN("  Reset Pin: ", this->reset_pin_);
   ESP_LOGCONFIG(TAG, "  External VCC: %s", YESNO(this->external_vcc_));
+  ESP_LOGCONFIG(TAG, "  Flip X: %s", YESNO(this->flip_x_));
+  ESP_LOGCONFIG(TAG, "  Flip Y: %s", YESNO(this->flip_y_));
+  ESP_LOGCONFIG(TAG, "  Offset X: %d", this->offset_x_);
+  ESP_LOGCONFIG(TAG, "  Offset Y: %d", this->offset_y_);
+  ESP_LOGCONFIG(TAG, "  Inverted Color: %s", YESNO(this->invert_));
   LOG_UPDATE_INTERVAL(this);
 }
 void SPISSD1306::command(uint8_t value) {
diff --git a/tests/test1.yaml b/tests/test1.yaml
index 5bec56c80f..6109e9f5c2 100644
--- a/tests/test1.yaml
+++ b/tests/test1.yaml
@@ -2072,7 +2072,7 @@ display:
     reset_pin: GPIO23
     address: 0x3C
     id: display1
-    brightness: 60%
+    contrast: 60%
     pages:
       - id: page1
         lambda: |-