diff --git a/packages/components/CHANGELOG.md b/packages/components/CHANGELOG.md
index 054877bef45044..93b3f52d6e4915 100644
--- a/packages/components/CHANGELOG.md
+++ b/packages/components/CHANGELOG.md
@@ -13,6 +13,7 @@
 -   `FormTokenField`: Update styling for consistency and increased visibility ([#54402](https://github.com/WordPress/gutenberg/pull/54402)).
 -   `CircularOptionPicker`: Add option to use previous non-listbox behaviour, for contexts where buttons are more appropriate than a list of options ([#54290](https://github.com/WordPress/gutenberg/pull/54290)).
 -   `DuotonePicker/ColorListPicker`: Adds appropriate labels to 'Duotone Filter' color pickers ([#54468](https://github.com/WordPress/gutenberg/pull/54468)).
+-   `SearchControl`: support new `40px` and `32px` sizes ([#54548](https://github.com/WordPress/gutenberg/pull/54548)).
 -   `FormTokenField`: Add `tokenizeOnBlur` prop to add any incompleteTokenValue as a new token when field loses focus ([#54445](https://github.com/WordPress/gutenberg/pull/54445)).
 
 ### Bug Fix
diff --git a/packages/components/src/search-control/README.md b/packages/components/src/search-control/README.md
index 6f79d6cd9efd9a..31c6c21e5222a6 100644
--- a/packages/components/src/search-control/README.md
+++ b/packages/components/src/search-control/README.md
@@ -90,6 +90,13 @@ If true, the label will not be visible, but will be read by screen readers. Defa
 -   Type: `Boolean`
 -   Required: No
 
+#### `size`: `'default'` | `'compact'`
+
+The size of the component.
+
+-   Required: No
+-   Default: `'default'`
+
 ## Related components
 
 -   To offer users more constrained options for input, use TextControl, SelectControl, RadioControl, CheckboxControl, or RangeControl.
diff --git a/packages/components/src/search-control/index.tsx b/packages/components/src/search-control/index.tsx
index 528ae52b26bbc8..723d754ba78ea1 100644
--- a/packages/components/src/search-control/index.tsx
+++ b/packages/components/src/search-control/index.tsx
@@ -23,6 +23,7 @@ import type { ForwardedRef } from 'react';
 function UnforwardedSearchControl(
 	{
 		__nextHasNoMarginBottom,
+		__next40pxDefaultSize = false,
 		className,
 		onChange,
 		onKeyDown,
@@ -32,6 +33,7 @@ function UnforwardedSearchControl(
 		hideLabelFromVision = true,
 		help,
 		onClose,
+		size = 'default',
 		...restProps
 	}: WordPressComponentProps< SearchControlProps, 'input', false >,
 	forwardedRef: ForwardedRef< HTMLInputElement >
@@ -44,9 +46,11 @@ function UnforwardedSearchControl(
 		if ( onClose ) {
 			return (
 				<Button
+					__next40pxDefaultSize={ __next40pxDefaultSize }
 					icon={ closeSmall }
 					label={ __( 'Close search' ) }
 					onClick={ onClose }
+					size={ size }
 				/>
 			);
 		}
@@ -54,12 +58,14 @@ function UnforwardedSearchControl(
 		if ( !! value ) {
 			return (
 				<Button
+					__next40pxDefaultSize={ __next40pxDefaultSize }
 					icon={ closeSmall }
 					label={ __( 'Reset search' ) }
 					onClick={ () => {
 						onChange( '' );
 						searchRef.current?.focus();
 					} }
+					size={ size }
 				/>
 			);
 		}
@@ -74,7 +80,10 @@ function UnforwardedSearchControl(
 			id={ id }
 			hideLabelFromVision={ hideLabelFromVision }
 			help={ help }
-			className={ classnames( className, 'components-search-control' ) }
+			className={ classnames( className, 'components-search-control', {
+				'is-next-40px-default-size': __next40pxDefaultSize,
+				'is-size-compact': size === 'compact',
+			} ) }
 		>
 			<div className="components-search-control__input-wrapper">
 				<input
diff --git a/packages/components/src/search-control/style.scss b/packages/components/src/search-control/style.scss
index d396cfd915083e..d9750721cf42b6 100644
--- a/packages/components/src/search-control/style.scss
+++ b/packages/components/src/search-control/style.scss
@@ -4,7 +4,7 @@
 	input[type="search"].components-search-control__input {
 		@include input-control;
 		display: block;
-		padding: $grid-unit-20 $grid-unit-60 $grid-unit-20 $grid-unit-20;
+		padding: 0 $grid-unit-60 0 $grid-unit-20;
 		background: $gray-100;
 		border: none;
 		width: 100%;
@@ -36,21 +36,28 @@
 			-webkit-appearance: none;
 		}
 	}
+
+	&.is-next-40px-default-size input[type="search"].components-search-control__input {
+		height: $grid-unit-50;
+	}
+
+	&.is-size-compact input[type="search"].components-search-control__input {
+		height: $grid-unit-40;
+	}
+
 }
 
 .components-search-control__icon {
 	position: absolute;
-	top: 0;
-	width: $icon-size;
 	right: ( $grid-unit-60 - $icon-size ) * 0.5;
-	bottom: 0;
+	top: 50%;
+	transform: translateY(-50%);
+
 	display: flex;
 	align-items: center;
 	justify-content: center;
 
-	> svg {
-		margin: $grid-unit-10 0;
-	}
+	width: $icon-size;
 }
 
 .components-search-control__input-wrapper {
diff --git a/packages/components/src/search-control/types.ts b/packages/components/src/search-control/types.ts
index dbaf16ad2feff0..a3ae13b6d4985a 100644
--- a/packages/components/src/search-control/types.ts
+++ b/packages/components/src/search-control/types.ts
@@ -40,4 +40,16 @@ export type SearchControlProps = Pick<
 	 * The current value of the input.
 	 */
 	value?: string;
+	/**
+	 * The size of the component
+	 *
+	 * @default 'default'
+	 */
+	size?: 'default' | 'compact';
+	/**
+	 * Start opting into the larger default height that will become the default size in a future version.
+	 *
+	 * @default false
+	 */
+	__next40pxDefaultSize?: boolean;
 };