diff --git a/apps/dashboard/pkg/migration/schemaversion/migrations.go b/apps/dashboard/pkg/migration/schemaversion/migrations.go
index 296e892d573..e8ae5ba6140 100644
--- a/apps/dashboard/pkg/migration/schemaversion/migrations.go
+++ b/apps/dashboard/pkg/migration/schemaversion/migrations.go
@@ -5,7 +5,7 @@ import (
 )
 
 const (
-	MIN_VERSION    = 30
+	MIN_VERSION    = 29
 	LATEST_VERSION = 41
 )
 
@@ -26,6 +26,7 @@ type DataSourceInfoProvider interface {
 
 func GetMigrations(dsInfoProvider DataSourceInfoProvider) map[int]SchemaVersionMigrationFunc {
 	return map[int]SchemaVersionMigrationFunc{
+		30: V30,
 		31: V31,
 		32: V32,
 		33: V33(dsInfoProvider),
diff --git a/apps/dashboard/pkg/migration/schemaversion/v30.go b/apps/dashboard/pkg/migration/schemaversion/v30.go
new file mode 100644
index 00000000000..d892abecb50
--- /dev/null
+++ b/apps/dashboard/pkg/migration/schemaversion/v30.go
@@ -0,0 +1,393 @@
+package schemaversion
+
+import (
+	"strconv"
+)
+
+// V30 upgrades value mappings and migrates tooltip options for panels.
+//
+// This migration addresses two key improvements to panel configurations:
+// 1. Value mappings upgrade: Converts legacy value mapping format to the new structured format
+// 2. Tooltip options migration: Renames tooltipOptions to tooltip in specific panel types: timeseries, xychart, xychart2
+//
+// The migration works by:
+// 1. Iterating through all panels in the dashboard, including nested panels in collapsed rows
+// 2. For each panel, upgrading value mappings in fieldConfig.defaults and fieldConfig.overrides
+// 3. Migrating tooltip options for timeseries, xychart, and xychart2 panels
+// 4. Preserving all other panel configurations and options
+//
+// Value Mappings Migration:
+// - Converts legacy mapping types (1 = ValueToText, 2 = RangeToText) to new format
+// - Handles special "null" values by converting them to SpecialValue mappings
+// - Preserves threshold colors when available
+// - Consolidates multiple value mappings into a single ValueToText mapping
+// - Maintains range mappings as separate RangeToText mappings
+//
+// Tooltip Options Migration:
+// - Renames panel.options.tooltipOptions to panel.options.tooltip
+// - Only applies to timeseries, xychart, and xychart2 panel types
+// - Preserves all tooltip configuration options
+//
+// Example value mappings transformation:
+//
+// Before migration:
+//
+//	panel: {
+//	  "fieldConfig": {
+//	    "defaults": {
+//	      "mappings": [
+//	        { "id": 0, "text": "Up", "type": 1, "value": "1" },
+//	        { "id": 1, "text": "Down", "type": 1, "value": "0" },
+//	        { "from": "10", "to": "20", "text": "Medium", "type": 2 }
+//	      ]
+//	    }
+//	  }
+//	}
+//
+// After migration:
+//
+//	panel: {
+//	  "fieldConfig": {
+//	    "defaults": {
+//	      "mappings": [
+//	        {
+//	          "type": "value",
+//	          "options": {
+//	            "1": { "text": "Up" },
+//	            "0": { "text": "Down" }
+//	          }
+//	        },
+//	        {
+//	          "type": "range",
+//	          "options": {
+//	            "from": 10,
+//	            "to": 20,
+//	            "result": { "text": "Medium" }
+//	          }
+//	        }
+//	      ]
+//	    }
+//	  }
+//	}
+//
+// Example tooltip options transformation:
+//
+// Before migration:
+//
+//	panel: {
+//	  "type": "timeseries",
+//	  "options": {
+//	    "tooltipOptions": { "mode": "multi" }
+//	  }
+//	}
+//
+// After migration:
+//
+//	panel: {
+//	  "type": "timeseries",
+//	  "options": {
+//	    "tooltip": { "mode": "multi" }
+//	  }
+//	}
+func V30(dashboard map[string]interface{}) error {
+	dashboard["schemaVersion"] = 30
+
+	panels, ok := dashboard["panels"].([]interface{})
+	if !ok {
+		return nil
+	}
+
+	for _, panel := range panels {
+		panelMap, ok := panel.(map[string]interface{})
+		if !ok {
+			continue
+		}
+
+		upgradeValueMappingsForPanel(panelMap)
+		migrateTooltipOptions(panelMap)
+
+		// Handle nested panels in collapsed rows
+		nestedPanels, hasNested := panelMap["panels"].([]interface{})
+		if !hasNested {
+			continue
+		}
+
+		for _, nestedPanel := range nestedPanels {
+			nestedPanelMap, ok := nestedPanel.(map[string]interface{})
+			if !ok {
+				continue
+			}
+			upgradeValueMappingsForPanel(nestedPanelMap)
+			migrateTooltipOptions(nestedPanelMap)
+		}
+	}
+
+	return nil
+}
+
+// upgradeValueMappingsForPanel migrates value mappings from old format to new format
+func upgradeValueMappingsForPanel(panel map[string]interface{}) {
+	fieldConfig, ok := panel["fieldConfig"].(map[string]interface{})
+	if !ok {
+		return
+	}
+
+	// Upgrade defaults mappings
+	if defaults, ok := fieldConfig["defaults"].(map[string]interface{}); ok {
+		if mappings, ok := defaults["mappings"].([]interface{}); ok {
+			var thresholds map[string]interface{}
+			if t, ok := defaults["thresholds"].(map[string]interface{}); ok {
+				thresholds = t
+			}
+			defaults["mappings"] = upgradeValueMappings(mappings, thresholds)
+		}
+	}
+
+	// Upgrade overrides mappings
+	overrides, hasOverrides := fieldConfig["overrides"].([]interface{})
+	if !hasOverrides {
+		return
+	}
+
+	for _, override := range overrides {
+		overrideMap, ok := override.(map[string]interface{})
+		if !ok {
+			continue
+		}
+
+		properties, hasProperties := overrideMap["properties"].([]interface{})
+		if !hasProperties {
+			continue
+		}
+
+		for _, property := range properties {
+			propertyMap, ok := property.(map[string]interface{})
+			if !ok {
+				continue
+			}
+
+			if propertyMap["id"] != "mappings" {
+				continue
+			}
+
+			mappings, ok := propertyMap["value"].([]interface{})
+			if !ok {
+				continue
+			}
+
+			propertyMap["value"] = upgradeValueMappings(mappings, nil)
+		}
+	}
+}
+
+// upgradeValueMappings converts legacy value mappings to new format
+func upgradeValueMappings(oldMappings []interface{}, thresholds map[string]interface{}) []interface{} {
+	if len(oldMappings) == 0 {
+		return oldMappings
+	}
+
+	valueMaps := map[string]interface{}{
+		"type":    "value",
+		"options": map[string]interface{}{},
+	}
+
+	var newMappings []interface{}
+	hasValueMappings := false
+
+	for _, mapping := range oldMappings {
+		if mappingMap, ok := mapping.(map[string]interface{}); ok {
+			// Check if this is already the new format
+			if mappingType, ok := mappingMap["type"].(string); ok && mappingType != "" {
+				if mappingType == "value" {
+					// Consolidate existing value mappings
+					if options, ok := mappingMap["options"].(map[string]interface{}); ok {
+						valueMapsOptions := valueMaps["options"].(map[string]interface{})
+						for k, v := range options {
+							valueMapsOptions[k] = v
+						}
+						hasValueMappings = true
+					}
+				} else {
+					newMappings = append(newMappings, mappingMap)
+				}
+				continue
+			}
+
+			// Handle legacy format
+			var color interface{}
+			if thresholds != nil {
+				// Try to get color from threshold based on the mapping value
+				if value, ok := mappingMap["value"]; ok {
+					if valueStr, ok := value.(string); ok {
+						if numeric, err := strconv.ParseFloat(valueStr, 64); err == nil {
+							color = getActiveThresholdColor(numeric, thresholds)
+						}
+					}
+				}
+				// For range mappings, use the 'from' value to determine color
+				if fromVal, ok := mappingMap["from"]; ok {
+					if fromStr, ok := fromVal.(string); ok {
+						if numeric, err := strconv.ParseFloat(fromStr, 64); err == nil {
+							color = getActiveThresholdColor(numeric, thresholds)
+						}
+					}
+				}
+			}
+
+			// Convert legacy type numbers to new format
+			if mappingType, ok := mappingMap["type"].(float64); ok {
+				switch int(mappingType) {
+				case 1: // ValueToText
+					if value, ok := mappingMap["value"]; ok {
+						if valueStr, ok := value.(string); ok && valueStr == "null" {
+							// Handle null values as special value mapping
+							// For null values, use the base threshold color (lowest step)
+							if thresholds != nil {
+								color = getBaseThresholdColor(thresholds)
+							}
+							newMappings = append(newMappings, map[string]interface{}{
+								"type": "special",
+								"options": map[string]interface{}{
+									"match": "null",
+									"result": map[string]interface{}{
+										"text":  mappingMap["text"],
+										"color": color,
+									},
+								},
+							})
+						} else {
+							// Regular value mapping
+							valueMapsOptions := valueMaps["options"].(map[string]interface{})
+							result := map[string]interface{}{
+								"text": mappingMap["text"],
+							}
+							if color != nil {
+								result["color"] = color
+							}
+							valueMapsOptions[stringifyValue(value)] = result
+							hasValueMappings = true
+						}
+					}
+				case 2: // RangeToText
+					result := map[string]interface{}{
+						"text": mappingMap["text"],
+					}
+					if color != nil {
+						result["color"] = color
+					}
+
+					from, _ := strconv.ParseFloat(stringifyValue(mappingMap["from"]), 64)
+					to, _ := strconv.ParseFloat(stringifyValue(mappingMap["to"]), 64)
+
+					newMappings = append(newMappings, map[string]interface{}{
+						"type": "range",
+						"options": map[string]interface{}{
+							"from":   from,
+							"to":     to,
+							"result": result,
+						},
+					})
+				}
+			}
+		}
+	}
+
+	// Add consolidated value mappings at the beginning if any exist
+	if hasValueMappings {
+		newMappings = append([]interface{}{valueMaps}, newMappings...)
+	}
+
+	return newMappings
+}
+
+// getActiveThresholdColor returns the color for a value based on thresholds
+func getActiveThresholdColor(value float64, thresholds map[string]interface{}) interface{} {
+	if steps, ok := thresholds["steps"].([]interface{}); ok {
+		var activeStep map[string]interface{}
+
+		for _, step := range steps {
+			if stepMap, ok := step.(map[string]interface{}); ok {
+				if stepValue, ok := stepMap["value"]; ok {
+					if stepValue == nil {
+						// Null value represents negative infinity - this is always the base color
+						activeStep = stepMap
+						continue
+					}
+
+					if stepNum, ok := stepValue.(float64); ok {
+						if value >= stepNum {
+							activeStep = stepMap
+						}
+					}
+				}
+			}
+		}
+
+		if activeStep != nil {
+			return activeStep["color"]
+		}
+	}
+
+	return nil
+}
+
+// getBaseThresholdColor returns the base threshold color (first step with null value)
+func getBaseThresholdColor(thresholds map[string]interface{}) interface{} {
+	if steps, ok := thresholds["steps"].([]interface{}); ok {
+		for _, step := range steps {
+			if stepMap, ok := step.(map[string]interface{}); ok {
+				if stepValue, ok := stepMap["value"]; ok {
+					if stepValue == nil {
+						// This is the base color (null value step)
+						return stepMap["color"]
+					}
+				}
+			}
+		}
+	}
+
+	return nil
+}
+
+// migrateTooltipOptions renames tooltipOptions to tooltip for specific panel types
+func migrateTooltipOptions(panel map[string]interface{}) {
+	panelType, ok := panel["type"].(string)
+	if !ok {
+		return
+	}
+
+	// Only migrate for specific panel types
+	if panelType != "timeseries" && panelType != "xychart" && panelType != "xychart2" {
+		return
+	}
+
+	options, ok := panel["options"].(map[string]interface{})
+	if !ok {
+		return
+	}
+
+	tooltipOptions, ok := options["tooltipOptions"]
+	if !ok {
+		return
+	}
+
+	// Rename tooltipOptions to tooltip
+	options["tooltip"] = tooltipOptions
+	delete(options, "tooltipOptions")
+}
+
+// stringifyValue converts a value to string
+func stringifyValue(value interface{}) string {
+	switch v := value.(type) {
+	case string:
+		return v
+	case float64:
+		return strconv.FormatFloat(v, 'f', -1, 64)
+	case int:
+		return strconv.Itoa(v)
+	case bool:
+		return strconv.FormatBool(v)
+	default:
+		return ""
+	}
+}
diff --git a/apps/dashboard/pkg/migration/schemaversion/v30_test.go b/apps/dashboard/pkg/migration/schemaversion/v30_test.go
new file mode 100644
index 00000000000..bbae0e9a412
--- /dev/null
+++ b/apps/dashboard/pkg/migration/schemaversion/v30_test.go
@@ -0,0 +1,499 @@
+package schemaversion_test
+
+import (
+	"testing"
+
+	"github.com/grafana/grafana/apps/dashboard/pkg/migration/schemaversion"
+)
+
+func TestV30(t *testing.T) {
+	tests := []migrationTestCase{
+		{
+			name: "panel with legacy value mappings gets upgraded to new format",
+			input: map[string]interface{}{
+				"title":         "V30 Value Mappings Migration Test Dashboard",
+				"schemaVersion": 29,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":  "timeseries",
+						"title": "Panel with legacy value mappings",
+						"id":    1,
+						"fieldConfig": map[string]interface{}{
+							"defaults": map[string]interface{}{
+								"thresholds": map[string]interface{}{
+									"mode": "absolute",
+									"steps": []interface{}{
+										map[string]interface{}{
+											"color": "green",
+											"value": nil,
+										},
+										map[string]interface{}{
+											"color": "red",
+											"value": float64(80),
+										},
+									},
+								},
+								"mappings": []interface{}{
+									map[string]interface{}{
+										"id":    0,
+										"text":  "Up",
+										"type":  float64(1),
+										"value": "1",
+									},
+									map[string]interface{}{
+										"id":    1,
+										"text":  "Down",
+										"type":  float64(1),
+										"value": "0",
+									},
+									map[string]interface{}{
+										"from": "10",
+										"to":   "20",
+										"text": "Medium",
+										"type": float64(2),
+									},
+									map[string]interface{}{
+										"type":  float64(1),
+										"value": "null",
+										"text":  "Null Value",
+									},
+								},
+							},
+							"overrides": []interface{}{
+								map[string]interface{}{
+									"matcher": map[string]interface{}{
+										"id":      "byName",
+										"options": "test-field",
+									},
+									"properties": []interface{}{
+										map[string]interface{}{
+											"id": "mappings",
+											"value": []interface{}{
+												map[string]interface{}{
+													"id":    0,
+													"text":  "Override Up",
+													"type":  float64(1),
+													"value": "1",
+												},
+											},
+										},
+									},
+								},
+							},
+						},
+					},
+				},
+			},
+			expected: map[string]interface{}{
+				"title":         "V30 Value Mappings Migration Test Dashboard",
+				"schemaVersion": 30,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":  "timeseries",
+						"title": "Panel with legacy value mappings",
+						"id":    1,
+						"fieldConfig": map[string]interface{}{
+							"defaults": map[string]interface{}{
+								"thresholds": map[string]interface{}{
+									"mode": "absolute",
+									"steps": []interface{}{
+										map[string]interface{}{
+											"color": "green",
+											"value": nil,
+										},
+										map[string]interface{}{
+											"color": "red",
+											"value": float64(80),
+										},
+									},
+								},
+								"mappings": []interface{}{
+									map[string]interface{}{
+										"type": "value",
+										"options": map[string]interface{}{
+											"1": map[string]interface{}{
+												"text":  "Up",
+												"color": "green",
+											},
+											"0": map[string]interface{}{
+												"text":  "Down",
+												"color": "green",
+											},
+										},
+									},
+									map[string]interface{}{
+										"type": "range",
+										"options": map[string]interface{}{
+											"from": float64(10),
+											"to":   float64(20),
+											"result": map[string]interface{}{
+												"text":  "Medium",
+												"color": "green",
+											},
+										},
+									},
+									map[string]interface{}{
+										"type": "special",
+										"options": map[string]interface{}{
+											"match": "null",
+											"result": map[string]interface{}{
+												"text":  "Null Value",
+												"color": "green",
+											},
+										},
+									},
+								},
+							},
+							"overrides": []interface{}{
+								map[string]interface{}{
+									"matcher": map[string]interface{}{
+										"id":      "byName",
+										"options": "test-field",
+									},
+									"properties": []interface{}{
+										map[string]interface{}{
+											"id": "mappings",
+											"value": []interface{}{
+												map[string]interface{}{
+													"type": "value",
+													"options": map[string]interface{}{
+														"1": map[string]interface{}{
+															"text": "Override Up",
+														},
+													},
+												},
+											},
+										},
+									},
+								},
+							},
+						},
+					},
+				},
+			},
+		},
+		{
+			name: "panel with tooltip options gets migrated to tooltip",
+			input: map[string]interface{}{
+				"title":         "V30 Tooltip Options Migration Test Dashboard",
+				"schemaVersion": 29,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":  "timeseries",
+						"title": "Panel with tooltipOptions",
+						"id":    1,
+						"options": map[string]interface{}{
+							"tooltipOptions": map[string]interface{}{
+								"mode": "multi",
+							},
+						},
+					},
+					map[string]interface{}{
+						"type":  "xychart",
+						"title": "XY Chart with tooltipOptions",
+						"id":    2,
+						"options": map[string]interface{}{
+							"tooltipOptions": map[string]interface{}{
+								"mode": "single",
+							},
+						},
+					},
+					map[string]interface{}{
+						"type":  "xychart2",
+						"title": "XY Chart2 with tooltipOptions",
+						"id":    3,
+						"options": map[string]interface{}{
+							"tooltipOptions": map[string]interface{}{
+								"mode": "single",
+							},
+						},
+					},
+				},
+			},
+			expected: map[string]interface{}{
+				"title":         "V30 Tooltip Options Migration Test Dashboard",
+				"schemaVersion": 30,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":  "timeseries",
+						"title": "Panel with tooltipOptions",
+						"id":    1,
+						"options": map[string]interface{}{
+							"tooltip": map[string]interface{}{
+								"mode": "multi",
+							},
+						},
+					},
+					map[string]interface{}{
+						"type":  "xychart",
+						"title": "XY Chart with tooltipOptions",
+						"id":    2,
+						"options": map[string]interface{}{
+							"tooltip": map[string]interface{}{
+								"mode": "single",
+							},
+						},
+					},
+					map[string]interface{}{
+						"type":  "xychart2",
+						"title": "XY Chart2 with tooltipOptions",
+						"id":    3,
+						"options": map[string]interface{}{
+							"tooltip": map[string]interface{}{
+								"mode": "single",
+							},
+						},
+					},
+				},
+			},
+		},
+		{
+			name: "panel with nested panels in collapsed row gets migrated",
+			input: map[string]interface{}{
+				"title":         "V30 Nested Panels Migration Test Dashboard",
+				"schemaVersion": 29,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":      "row",
+						"title":     "Collapsed Row",
+						"id":        1,
+						"collapsed": true,
+						"panels": []interface{}{
+							map[string]interface{}{
+								"type":  "timeseries",
+								"title": "Nested panel with tooltipOptions",
+								"id":    2,
+								"options": map[string]interface{}{
+									"tooltipOptions": map[string]interface{}{
+										"mode": "multi",
+									},
+								},
+								"fieldConfig": map[string]interface{}{
+									"defaults": map[string]interface{}{
+										"mappings": []interface{}{
+											map[string]interface{}{
+												"id":    0,
+												"text":  "On",
+												"type":  float64(1),
+												"value": "1",
+											},
+										},
+									},
+								},
+							},
+						},
+					},
+				},
+			},
+			expected: map[string]interface{}{
+				"title":         "V30 Nested Panels Migration Test Dashboard",
+				"schemaVersion": 30,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":      "row",
+						"title":     "Collapsed Row",
+						"id":        1,
+						"collapsed": true,
+						"panels": []interface{}{
+							map[string]interface{}{
+								"type":  "timeseries",
+								"title": "Nested panel with tooltipOptions",
+								"id":    2,
+								"options": map[string]interface{}{
+									"tooltip": map[string]interface{}{
+										"mode": "multi",
+									},
+								},
+								"fieldConfig": map[string]interface{}{
+									"defaults": map[string]interface{}{
+										"mappings": []interface{}{
+											map[string]interface{}{
+												"type": "value",
+												"options": map[string]interface{}{
+													"1": map[string]interface{}{
+														"text": "On",
+													},
+												},
+											},
+										},
+									},
+								},
+							},
+						},
+					},
+				},
+			},
+		},
+		{
+			name: "panel with no mappings or tooltip options remains unchanged",
+			input: map[string]interface{}{
+				"title":         "V30 No Changes Test Dashboard",
+				"schemaVersion": 29,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":  "timeseries",
+						"title": "Panel with no relevant configurations",
+						"id":    1,
+						"fieldConfig": map[string]interface{}{
+							"defaults": map[string]interface{}{
+								"unit": "bytes",
+							},
+						},
+						"options": map[string]interface{}{
+							"legend": map[string]interface{}{
+								"displayMode": "list",
+							},
+						},
+					},
+				},
+			},
+			expected: map[string]interface{}{
+				"title":         "V30 No Changes Test Dashboard",
+				"schemaVersion": 30,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":  "timeseries",
+						"title": "Panel with no relevant configurations",
+						"id":    1,
+						"fieldConfig": map[string]interface{}{
+							"defaults": map[string]interface{}{
+								"unit": "bytes",
+							},
+						},
+						"options": map[string]interface{}{
+							"legend": map[string]interface{}{
+								"displayMode": "list",
+							},
+						},
+					},
+				},
+			},
+		},
+		{
+			name: "panels remain unchanged when no V30 specific migrations apply",
+			input: map[string]interface{}{
+				"title":         "V30 Panel Types Unchanged Test Dashboard",
+				"schemaVersion": 29,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":  "graph",
+						"title": "Graph panel",
+						"id":    1,
+					},
+					map[string]interface{}{
+						"type":  "singlestat",
+						"title": "Singlestat panel",
+						"id":    2,
+					},
+					map[string]interface{}{
+						"type":  "timeseries",
+						"title": "Already timeseries panel",
+						"id":    3,
+					},
+				},
+			},
+			expected: map[string]interface{}{
+				"title":         "V30 Panel Types Unchanged Test Dashboard",
+				"schemaVersion": 30,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":  "graph",
+						"title": "Graph panel",
+						"id":    1,
+					},
+					map[string]interface{}{
+						"type":  "singlestat",
+						"title": "Singlestat panel",
+						"id":    2,
+					},
+					map[string]interface{}{
+						"type":  "timeseries",
+						"title": "Already timeseries panel",
+						"id":    3,
+					},
+				},
+			},
+		},
+		{
+			name: "graph panels with different configurations remain unchanged in V30",
+			input: map[string]interface{}{
+				"title":         "V30 Graph Panel Configurations Test Dashboard",
+				"schemaVersion": 29,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":  "graph",
+						"title": "Graph with series mode and legend values",
+						"id":    1,
+						"xaxis": map[string]interface{}{
+							"mode": "series",
+						},
+						"legend": map[string]interface{}{
+							"values": true,
+						},
+					},
+					map[string]interface{}{
+						"type":  "graph",
+						"title": "Graph with series mode",
+						"id":    2,
+						"xaxis": map[string]interface{}{
+							"mode": "series",
+						},
+					},
+					map[string]interface{}{
+						"type":  "graph",
+						"title": "Graph with histogram mode",
+						"id":    3,
+						"xaxis": map[string]interface{}{
+							"mode": "histogram",
+						},
+					},
+					map[string]interface{}{
+						"type":  "graph",
+						"title": "Graph with default configuration",
+						"id":    4,
+					},
+				},
+			},
+			expected: map[string]interface{}{
+				"title":         "V30 Graph Panel Configurations Test Dashboard",
+				"schemaVersion": 30,
+				"panels": []interface{}{
+					map[string]interface{}{
+						"type":  "graph",
+						"title": "Graph with series mode and legend values",
+						"id":    1,
+						"xaxis": map[string]interface{}{
+							"mode": "series",
+						},
+						"legend": map[string]interface{}{
+							"values": true,
+						},
+					},
+					map[string]interface{}{
+						"type":  "graph",
+						"title": "Graph with series mode",
+						"id":    2,
+						"xaxis": map[string]interface{}{
+							"mode": "series",
+						},
+					},
+					map[string]interface{}{
+						"type":  "graph",
+						"title": "Graph with histogram mode",
+						"id":    3,
+						"xaxis": map[string]interface{}{
+							"mode": "histogram",
+						},
+					},
+					map[string]interface{}{
+						"type":  "graph",
+						"title": "Graph with default configuration",
+						"id":    4,
+					},
+				},
+			},
+		},
+	}
+
+	runMigrationTests(t, tests, schemaversion.V30)
+}
diff --git a/apps/dashboard/pkg/migration/testdata/input/v30.value_mappings_and_tooltip_options.json b/apps/dashboard/pkg/migration/testdata/input/v30.value_mappings_and_tooltip_options.json
new file mode 100644
index 00000000000..672a88ed0b6
--- /dev/null
+++ b/apps/dashboard/pkg/migration/testdata/input/v30.value_mappings_and_tooltip_options.json
@@ -0,0 +1,214 @@
+{
+  "title": "V30 Value Mappings and Tooltip Options Migration Test Dashboard",
+  "schemaVersion": 29,
+  "panels": [
+    {
+      "type": "timeseries",
+      "title": "Panel with legacy value mappings and tooltip options",
+      "id": 1,
+      "fieldConfig": {
+        "defaults": {
+          "thresholds": {
+            "mode": "absolute",
+            "steps": [
+              {
+                "color": "green",
+                "value": null
+              },
+              {
+                "color": "red",
+                "value": 80
+              }
+            ]
+          },
+          "mappings": [
+            {
+              "id": 0,
+              "text": "Up",
+              "type": 1,
+              "value": "1"
+            },
+            {
+              "id": 1,
+              "text": "Down",
+              "type": 1,
+              "value": "0"
+            },
+            {
+              "from": "10",
+              "to": "20",
+              "text": "Medium",
+              "type": 2
+            },
+            {
+              "type": 1,
+              "value": "null",
+              "text": "Null Value"
+            }
+          ]
+        },
+        "overrides": [
+          {
+            "matcher": {
+              "id": "byName",
+              "options": "test-field"
+            },
+            "properties": [
+              {
+                "id": "mappings",
+                "value": [
+                  {
+                    "id": 0,
+                    "text": "Override Up",
+                    "type": 1,
+                    "value": "1"
+                  }
+                ]
+              }
+            ]
+          }
+        ]
+      },
+      "options": {
+        "tooltipOptions": {
+          "mode": "multi"
+        }
+      }
+    },
+    {
+      "type": "xychart",
+      "title": "XY Chart with tooltip options only",
+      "id": 2,
+      "options": {
+        "tooltipOptions": {
+          "mode": "single"
+        }
+      }
+    },
+    {
+      "type": "xychart2",
+      "title": "XY Chart2 with tooltip options",
+      "id": 3,
+      "options": {
+        "tooltipOptions": {
+          "mode": "single",
+          "sort": "none"
+        }
+      }
+    },
+    {
+      "type": "graph",
+      "title": "Graph panel gets migrated to timeseries and tooltip",
+      "id": 4,
+      "options": {
+        "tooltip": {
+          "mode": "single"
+        }
+      }
+    },
+    {
+      "type": "stat",
+      "title": "Panel with complex value mappings",
+      "id": 5,
+      "fieldConfig": {
+        "defaults": {
+          "mappings": [
+            {
+              "id": 0,
+              "text": "Critical",
+              "type": 1,
+              "value": "100"
+            },
+            {
+              "from": "50",
+              "to": "99",
+              "text": "Warning",
+              "type": 2
+            },
+            {
+              "from": "0",
+              "to": "49",
+              "text": "OK",
+              "type": 2
+            }
+          ]
+        }
+      }
+    },
+    {
+      "type": "row",
+      "title": "Collapsed Row with nested panels",
+      "id": 6,
+      "collapsed": true,
+      "panels": [
+        {
+          "type": "timeseries",
+          "title": "Nested panel with both migrations",
+          "id": 7,
+          "fieldConfig": {
+            "defaults": {
+              "mappings": [
+                {
+                  "id": 0,
+                  "text": "On",
+                  "type": 1,
+                  "value": "1"
+                },
+                {
+                  "id": 1,
+                  "text": "Off",
+                  "type": 1,
+                  "value": "0"
+                }
+              ]
+            }
+          },
+          "options": {
+            "tooltipOptions": {
+              "mode": "multi"
+            }
+          }
+        }
+      ]
+    },
+    {
+      "type": "timeseries",
+      "title": "Panel with no relevant configurations",
+      "id": 8,
+      "fieldConfig": {
+        "defaults": {
+          "unit": "bytes"
+        }
+      },
+      "options": {
+        "legend": {
+          "displayMode": "list"
+        }
+      }
+    },
+    {
+      "type": "stat",
+      "title": "Panel with empty mappings array - should return null",
+      "id": 9,
+      "fieldConfig": {
+        "defaults": {
+          "mappings": []
+        },
+        "overrides": [
+          {
+            "matcher": {
+              "id": "byName",
+              "options": "empty-field"
+            },
+            "properties": [
+              {
+                "id": "mappings",
+                "value": []
+              }
+            ]
+          }
+        ]
+      }
+    }
+  ]
+} 
\ No newline at end of file
diff --git a/apps/dashboard/pkg/migration/testdata/output/v30.value_mappings_and_tooltip_options.json b/apps/dashboard/pkg/migration/testdata/output/v30.value_mappings_and_tooltip_options.json
new file mode 100644
index 00000000000..508e41cb1f6
--- /dev/null
+++ b/apps/dashboard/pkg/migration/testdata/output/v30.value_mappings_and_tooltip_options.json
@@ -0,0 +1,373 @@
+{
+  "panels": [
+    {
+      "datasource": {
+        "apiVersion": "v1",
+        "type": "prometheus",
+        "uid": "default-ds-uid"
+      },
+      "fieldConfig": {
+        "defaults": {
+          "mappings": [
+            {
+              "options": {
+                "0": {
+                  "color": "green",
+                  "text": "Down"
+                },
+                "1": {
+                  "color": "green",
+                  "text": "Up"
+                }
+              },
+              "type": "value"
+            },
+            {
+              "options": {
+                "from": 10,
+                "result": {
+                  "color": "green",
+                  "text": "Medium"
+                },
+                "to": 20
+              },
+              "type": "range"
+            },
+            {
+              "options": {
+                "match": "null",
+                "result": {
+                  "color": "green",
+                  "text": "Null Value"
+                }
+              },
+              "type": "special"
+            }
+          ],
+          "thresholds": {
+            "mode": "absolute",
+            "steps": [
+              {
+                "color": "green",
+                "value": null
+              },
+              {
+                "color": "red",
+                "value": 80
+              }
+            ]
+          }
+        },
+        "overrides": [
+          {
+            "matcher": {
+              "id": "byName",
+              "options": "test-field"
+            },
+            "properties": [
+              {
+                "id": "mappings",
+                "value": [
+                  {
+                    "options": {
+                      "1": {
+                        "text": "Override Up"
+                      }
+                    },
+                    "type": "value"
+                  }
+                ]
+              }
+            ]
+          }
+        ]
+      },
+      "id": 1,
+      "options": {
+        "tooltip": {
+          "mode": "multi"
+        }
+      },
+      "targets": [
+        {
+          "datasource": {
+            "apiVersion": "v1",
+            "type": "prometheus",
+            "uid": "default-ds-uid"
+          },
+          "refId": "A"
+        }
+      ],
+      "title": "Panel with legacy value mappings and tooltip options",
+      "type": "timeseries"
+    },
+    {
+      "datasource": {
+        "apiVersion": "v1",
+        "type": "prometheus",
+        "uid": "default-ds-uid"
+      },
+      "id": 2,
+      "options": {
+        "tooltip": {
+          "mode": "single"
+        }
+      },
+      "targets": [
+        {
+          "datasource": {
+            "apiVersion": "v1",
+            "type": "prometheus",
+            "uid": "default-ds-uid"
+          },
+          "refId": "A"
+        }
+      ],
+      "title": "XY Chart with tooltip options only",
+      "type": "xychart"
+    },
+    {
+      "datasource": {
+        "apiVersion": "v1",
+        "type": "prometheus",
+        "uid": "default-ds-uid"
+      },
+      "id": 3,
+      "options": {
+        "tooltip": {
+          "mode": "single",
+          "sort": "none"
+        }
+      },
+      "targets": [
+        {
+          "datasource": {
+            "apiVersion": "v1",
+            "type": "prometheus",
+            "uid": "default-ds-uid"
+          },
+          "refId": "A"
+        }
+      ],
+      "title": "XY Chart2 with tooltip options",
+      "type": "xychart2"
+    },
+    {
+      "datasource": {
+        "apiVersion": "v1",
+        "type": "prometheus",
+        "uid": "default-ds-uid"
+      },
+      "id": 4,
+      "options": {
+        "tooltip": {
+          "mode": "single"
+        }
+      },
+      "targets": [
+        {
+          "datasource": {
+            "apiVersion": "v1",
+            "type": "prometheus",
+            "uid": "default-ds-uid"
+          },
+          "refId": "A"
+        }
+      ],
+      "title": "Graph panel gets migrated to timeseries and tooltip",
+      "type": "graph"
+    },
+    {
+      "datasource": {
+        "apiVersion": "v1",
+        "type": "prometheus",
+        "uid": "default-ds-uid"
+      },
+      "fieldConfig": {
+        "defaults": {
+          "mappings": [
+            {
+              "options": {
+                "100": {
+                  "text": "Critical"
+                }
+              },
+              "type": "value"
+            },
+            {
+              "options": {
+                "from": 50,
+                "result": {
+                  "text": "Warning"
+                },
+                "to": 99
+              },
+              "type": "range"
+            },
+            {
+              "options": {
+                "from": 0,
+                "result": {
+                  "text": "OK"
+                },
+                "to": 49
+              },
+              "type": "range"
+            }
+          ]
+        }
+      },
+      "id": 5,
+      "targets": [
+        {
+          "datasource": {
+            "apiVersion": "v1",
+            "type": "prometheus",
+            "uid": "default-ds-uid"
+          },
+          "refId": "A"
+        }
+      ],
+      "title": "Panel with complex value mappings",
+      "type": "stat"
+    },
+    {
+      "collapsed": true,
+      "datasource": {
+        "apiVersion": "v1",
+        "type": "prometheus",
+        "uid": "default-ds-uid"
+      },
+      "id": 6,
+      "panels": [
+        {
+          "datasource": {
+            "apiVersion": "v1",
+            "type": "prometheus",
+            "uid": "default-ds-uid"
+          },
+          "fieldConfig": {
+            "defaults": {
+              "mappings": [
+                {
+                  "options": {
+                    "0": {
+                      "text": "Off"
+                    },
+                    "1": {
+                      "text": "On"
+                    }
+                  },
+                  "type": "value"
+                }
+              ]
+            }
+          },
+          "id": 7,
+          "options": {
+            "tooltip": {
+              "mode": "multi"
+            }
+          },
+          "targets": [
+            {
+              "datasource": {
+                "apiVersion": "v1",
+                "type": "prometheus",
+                "uid": "default-ds-uid"
+              },
+              "refId": "A"
+            }
+          ],
+          "title": "Nested panel with both migrations",
+          "type": "timeseries"
+        }
+      ],
+      "targets": [
+        {
+          "datasource": {
+            "apiVersion": "v1",
+            "type": "prometheus",
+            "uid": "default-ds-uid"
+          },
+          "refId": "A"
+        }
+      ],
+      "title": "Collapsed Row with nested panels",
+      "type": "row"
+    },
+    {
+      "datasource": {
+        "apiVersion": "v1",
+        "type": "prometheus",
+        "uid": "default-ds-uid"
+      },
+      "fieldConfig": {
+        "defaults": {
+          "unit": "bytes"
+        }
+      },
+      "id": 8,
+      "options": {
+        "legend": {
+          "displayMode": "list",
+          "showLegend": true
+        }
+      },
+      "targets": [
+        {
+          "datasource": {
+            "apiVersion": "v1",
+            "type": "prometheus",
+            "uid": "default-ds-uid"
+          },
+          "refId": "A"
+        }
+      ],
+      "title": "Panel with no relevant configurations",
+      "type": "timeseries"
+    },
+    {
+      "datasource": {
+        "apiVersion": "v1",
+        "type": "prometheus",
+        "uid": "default-ds-uid"
+      },
+      "fieldConfig": {
+        "defaults": {
+          "mappings": []
+        },
+        "overrides": [
+          {
+            "matcher": {
+              "id": "byName",
+              "options": "empty-field"
+            },
+            "properties": [
+              {
+                "id": "mappings",
+                "value": []
+              }
+            ]
+          }
+        ]
+      },
+      "id": 9,
+      "targets": [
+        {
+          "datasource": {
+            "apiVersion": "v1",
+            "type": "prometheus",
+            "uid": "default-ds-uid"
+          },
+          "refId": "A"
+        }
+      ],
+      "title": "Panel with empty mappings array - should return null",
+      "type": "stat"
+    }
+  ],
+  "refresh": "",
+  "schemaVersion": 41,
+  "title": "V30 Value Mappings and Tooltip Options Migration Test Dashboard"
+}
\ No newline at end of file