diff --git a/public/app/plugins/panel/nodeGraph/NodeGraphPanel.tsx b/public/app/plugins/panel/nodeGraph/NodeGraphPanel.tsx
index d98d0597789..19425c96a6f 100644
--- a/public/app/plugins/panel/nodeGraph/NodeGraphPanel.tsx
+++ b/public/app/plugins/panel/nodeGraph/NodeGraphPanel.tsx
@@ -6,10 +6,15 @@ import { PanelProps } from '@grafana/data';
 import { useLinks } from '../../../features/explore/utils/links';
 
 import { NodeGraph } from './NodeGraph';
-import { Options } from './types';
+import { NodeGraphOptions } from './types';
 import { getNodeGraphDataFrames } from './utils';
 
-export const NodeGraphPanel: React.FunctionComponent<PanelProps<Options>> = ({ width, height, data }) => {
+export const NodeGraphPanel: React.FunctionComponent<PanelProps<NodeGraphOptions>> = ({
+  width,
+  height,
+  data,
+  options,
+}) => {
   const getLinks = useLinks(data.timeRange);
   if (!data || !data.series.length) {
     return (
@@ -22,7 +27,7 @@ export const NodeGraphPanel: React.FunctionComponent<PanelProps<Options>> = ({ w
   const memoizedGetNodeGraphDataFrames = memoizeOne(getNodeGraphDataFrames);
   return (
     <div style={{ width, height }}>
-      <NodeGraph dataFrames={memoizedGetNodeGraphDataFrames(data.series)} getLinks={getLinks} />
+      <NodeGraph dataFrames={memoizedGetNodeGraphDataFrames(data.series, options)} getLinks={getLinks} />
     </div>
   );
 };
diff --git a/public/app/plugins/panel/nodeGraph/editor/ArcOptionsEditor.tsx b/public/app/plugins/panel/nodeGraph/editor/ArcOptionsEditor.tsx
new file mode 100644
index 00000000000..eabd4d5d980
--- /dev/null
+++ b/public/app/plugins/panel/nodeGraph/editor/ArcOptionsEditor.tsx
@@ -0,0 +1,76 @@
+import { css } from '@emotion/css';
+import React from 'react';
+
+import { Field, FieldNamePickerConfigSettings, StandardEditorProps, StandardEditorsRegistryItem } from '@grafana/data';
+import { Button, ColorPicker, useStyles2 } from '@grafana/ui';
+import { FieldNamePicker } from '@grafana/ui/src/components/MatchersUI/FieldNamePicker';
+
+import { ArcOption, NodeGraphOptions } from '../types';
+
+type ArcOptionsEditorProps = StandardEditorProps<ArcOption[], any, NodeGraphOptions, any>;
+
+const fieldNamePickerSettings: StandardEditorsRegistryItem<string, FieldNamePickerConfigSettings> = {
+  settings: { filter: (field: Field) => field.name.includes('arc__') },
+} as any;
+
+export const ArcOptionsEditor = ({ value, onChange, context }: ArcOptionsEditorProps) => {
+  const styles = useStyles2(getStyles);
+
+  const addArc = () => {
+    const newArc = { field: '', color: '' };
+    onChange(value ? [...value, newArc] : [newArc]);
+  };
+
+  const removeArc = (idx: number) => {
+    const copy = value?.slice();
+    copy.splice(idx, 1);
+    onChange(copy);
+  };
+
+  const updateField = <K extends keyof ArcOption>(idx: number, field: K, newValue: ArcOption[K]) => {
+    let arcs = value?.slice() ?? [];
+    arcs[idx][field] = newValue;
+    onChange(arcs);
+  };
+
+  return (
+    <>
+      {value?.map((arc, i) => {
+        return (
+          <div className={styles.section} key={i}>
+            <FieldNamePicker
+              context={context}
+              value={arc.field ?? ''}
+              onChange={(val) => {
+                updateField(i, 'field', val);
+              }}
+              item={fieldNamePickerSettings}
+            />
+            <ColorPicker
+              color={arc.color || '#808080'}
+              onChange={(val) => {
+                updateField(i, 'color', val);
+              }}
+            />
+            <Button size="sm" icon="minus" variant="secondary" onClick={() => removeArc(i)} title="Remove arc" />
+          </div>
+        );
+      })}
+      <Button size={'sm'} icon="plus" onClick={addArc} variant="secondary">
+        Add arc
+      </Button>
+    </>
+  );
+};
+
+const getStyles = () => {
+  return {
+    section: css`
+      display: flex;
+      align-items: center;
+      justify-content: space-between;
+      gap: 0 8px;
+      margin-bottom: 8px;
+    `,
+  };
+};
diff --git a/public/app/plugins/panel/nodeGraph/module.tsx b/public/app/plugins/panel/nodeGraph/module.tsx
index 15416636639..5d444e17e3c 100644
--- a/public/app/plugins/panel/nodeGraph/module.tsx
+++ b/public/app/plugins/panel/nodeGraph/module.tsx
@@ -1,6 +1,42 @@
 import { PanelPlugin } from '@grafana/data';
 
 import { NodeGraphPanel } from './NodeGraphPanel';
-import { Options } from './types';
+import { ArcOptionsEditor } from './editor/ArcOptionsEditor';
+import { NodeGraphOptions } from './types';
 
-export const plugin = new PanelPlugin<Options>(NodeGraphPanel);
+export const plugin = new PanelPlugin<NodeGraphOptions>(NodeGraphPanel).setPanelOptions((builder, context) => {
+  builder.addNestedOptions({
+    category: ['Nodes'],
+    path: 'nodes',
+    build: (builder) => {
+      builder.addUnitPicker({
+        name: 'Main stat unit',
+        path: 'mainStatUnit',
+      });
+      builder.addUnitPicker({
+        name: 'Secondary stat unit',
+        path: 'secondaryStatUnit',
+      });
+      builder.addCustomEditor({
+        name: 'Arc sections',
+        path: 'arcs',
+        id: 'arcs',
+        editor: ArcOptionsEditor,
+      });
+    },
+  });
+  builder.addNestedOptions({
+    category: ['Edges'],
+    path: 'edges',
+    build: (builder) => {
+      builder.addUnitPicker({
+        name: 'Main stat unit',
+        path: 'mainStatUnit',
+      });
+      builder.addUnitPicker({
+        name: 'Secondary stat unit',
+        path: 'secondaryStatUnit',
+      });
+    },
+  });
+});
diff --git a/public/app/plugins/panel/nodeGraph/types.ts b/public/app/plugins/panel/nodeGraph/types.ts
index 1c15b9e5688..a7758a1e43c 100644
--- a/public/app/plugins/panel/nodeGraph/types.ts
+++ b/public/app/plugins/panel/nodeGraph/types.ts
@@ -2,7 +2,26 @@ import { SimulationNodeDatum, SimulationLinkDatum } from 'd3-force';
 
 import { Field } from '@grafana/data';
 
-export interface Options {}
+export interface NodeGraphOptions {
+  nodes?: NodeOptions;
+  edges?: EdgeOptions;
+}
+
+interface NodeOptions {
+  mainStatUnit?: string;
+  secondaryStatUnit?: string;
+  arcs?: ArcOption[];
+}
+
+export interface ArcOption {
+  field?: string;
+  color?: any;
+}
+
+interface EdgeOptions {
+  mainStatUnit?: string;
+  secondaryStatUnit?: string;
+}
 
 export type NodeDatum = SimulationNodeDatum & {
   id: string;
diff --git a/public/app/plugins/panel/nodeGraph/utils.test.ts b/public/app/plugins/panel/nodeGraph/utils.test.ts
index 9ca99d86ac5..8e382a38829 100644
--- a/public/app/plugins/panel/nodeGraph/utils.test.ts
+++ b/public/app/plugins/panel/nodeGraph/utils.test.ts
@@ -1,5 +1,6 @@
 import { ArrayVector, createTheme, DataFrame, FieldType, MutableDataFrame } from '@grafana/data';
 
+import { NodeGraphOptions } from './types';
 import {
   getEdgeFields,
   getNodeFields,
@@ -293,4 +294,68 @@ describe('processNodes', () => {
     expect(edgeFields.mainStat).toBeDefined();
     expect(edgeFields.secondaryStat).toBeDefined();
   });
+
+  it('interpolates panel options correctly', () => {
+    const frames = [
+      new MutableDataFrame({
+        refId: 'nodes',
+        fields: [
+          { name: 'id', type: FieldType.string },
+          { name: 'mainStat', type: FieldType.string },
+          { name: 'secondaryStat', type: FieldType.string },
+          { name: 'arc__primary', type: FieldType.string },
+          { name: 'arc__secondary', type: FieldType.string },
+          { name: 'arc__tertiary', type: FieldType.string },
+        ],
+      }),
+      new MutableDataFrame({
+        refId: 'edges',
+        fields: [
+          { name: 'id', type: FieldType.string },
+          { name: 'source', type: FieldType.string },
+          { name: 'target', type: FieldType.string },
+          { name: 'mainStat', type: FieldType.string },
+          { name: 'secondaryStat', type: FieldType.string },
+        ],
+      }),
+    ];
+
+    const panelOptions: NodeGraphOptions = {
+      nodes: {
+        mainStatUnit: 'r/min',
+        secondaryStatUnit: 'ms/r',
+        arcs: [
+          { field: 'arc__primary', color: 'red' },
+          { field: 'arc__secondary', color: 'yellow' },
+          { field: 'arc__tertiary', color: '#dd40ec' },
+        ],
+      },
+      edges: {
+        mainStatUnit: 'r/sec',
+        secondaryStatUnit: 'ft^2',
+      },
+    };
+
+    const nodeGraphFrames = getNodeGraphDataFrames(frames, panelOptions);
+    expect(nodeGraphFrames).toHaveLength(2);
+
+    const nodesFrame = nodeGraphFrames.find((f) => f.refId === 'nodes');
+    expect(nodesFrame).toBeDefined();
+    expect(nodesFrame?.fields.find((f) => f.name === 'mainStat')?.config).toEqual({ unit: 'r/min' });
+    expect(nodesFrame?.fields.find((f) => f.name === 'secondaryStat')?.config).toEqual({ unit: 'ms/r' });
+    expect(nodesFrame?.fields.find((f) => f.name === 'arc__primary')?.config).toEqual({
+      color: { mode: 'fixed', fixedColor: 'red' },
+    });
+    expect(nodesFrame?.fields.find((f) => f.name === 'arc__secondary')?.config).toEqual({
+      color: { mode: 'fixed', fixedColor: 'yellow' },
+    });
+    expect(nodesFrame?.fields.find((f) => f.name === 'arc__tertiary')?.config).toEqual({
+      color: { mode: 'fixed', fixedColor: '#dd40ec' },
+    });
+
+    const edgesFrame = nodeGraphFrames.find((f) => f.refId === 'edges');
+    expect(edgesFrame).toBeDefined();
+    expect(edgesFrame?.fields.find((f) => f.name === 'mainStat')?.config).toEqual({ unit: 'r/sec' });
+    expect(edgesFrame?.fields.find((f) => f.name === 'secondaryStat')?.config).toEqual({ unit: 'ft^2' });
+  });
 });
diff --git a/public/app/plugins/panel/nodeGraph/utils.ts b/public/app/plugins/panel/nodeGraph/utils.ts
index 2de6eb997ef..593c6263450 100644
--- a/public/app/plugins/panel/nodeGraph/utils.ts
+++ b/public/app/plugins/panel/nodeGraph/utils.ts
@@ -3,13 +3,14 @@ import {
   DataFrame,
   Field,
   FieldCache,
+  FieldColorModeId,
   FieldType,
   GrafanaTheme2,
   MutableDataFrame,
   NodeGraphDataFrameFieldNames,
 } from '@grafana/data';
 
-import { EdgeDatum, NodeDatum } from './types';
+import { EdgeDatum, NodeDatum, NodeGraphOptions } from './types';
 
 type Line = { x1: number; y1: number; x2: number; y2: number };
 
@@ -327,12 +328,12 @@ export function graphBounds(nodes: NodeDatum[]): Bounds {
   };
 }
 
-export function getNodeGraphDataFrames(frames: DataFrame[]) {
+export function getNodeGraphDataFrames(frames: DataFrame[], options?: NodeGraphOptions) {
   // TODO: this not in sync with how other types of responses are handled. Other types have a query response
   //  processing pipeline which ends up populating redux state with proper data. As we move towards more dataFrame
   //  oriented API it seems like a better direction to move such processing into to visualisations and do minimal
   //  and lazy processing here. Needs bigger refactor so keeping nodeGraph and Traces as they are for now.
-  return frames.filter((frame) => {
+  let nodeGraphFrames = frames.filter((frame) => {
     if (frame.meta?.preferredVisualisationType === 'nodeGraph') {
       return true;
     }
@@ -348,4 +349,58 @@ export function getNodeGraphDataFrames(frames: DataFrame[]) {
 
     return false;
   });
+
+  // If panel options are provided, interpolate their values in to the data frames
+  if (options) {
+    nodeGraphFrames = applyOptionsToFrames(nodeGraphFrames, options);
+  }
+  return nodeGraphFrames;
 }
+
+export const applyOptionsToFrames = (frames: DataFrame[], options: NodeGraphOptions): DataFrame[] => {
+  return frames.map((frame) => {
+    const fieldsCache = new FieldCache(frame);
+
+    // Edges frame has source which can be used to identify nodes vs edges frames
+    if (fieldsCache.getFieldByName(NodeGraphDataFrameFieldNames.source.toLowerCase())) {
+      if (options?.edges?.mainStatUnit) {
+        const field = frame.fields.find((field) => field.name.toLowerCase() === NodeGraphDataFrameFieldNames.mainStat);
+        if (field) {
+          field.config = { ...field.config, unit: options.edges.mainStatUnit };
+        }
+      }
+      if (options?.edges?.secondaryStatUnit) {
+        const field = frame.fields.find(
+          (field) => field.name.toLowerCase() === NodeGraphDataFrameFieldNames.secondaryStat
+        );
+        if (field) {
+          field.config = { ...field.config, unit: options.edges.secondaryStatUnit };
+        }
+      }
+    } else {
+      if (options?.nodes?.mainStatUnit) {
+        const field = frame.fields.find((field) => field.name.toLowerCase() === NodeGraphDataFrameFieldNames.mainStat);
+        if (field) {
+          field.config = { ...field.config, unit: options.nodes.mainStatUnit };
+        }
+      }
+      if (options?.nodes?.secondaryStatUnit) {
+        const field = frame.fields.find(
+          (field) => field.name.toLowerCase() === NodeGraphDataFrameFieldNames.secondaryStat
+        );
+        if (field) {
+          field.config = { ...field.config, unit: options.nodes.secondaryStatUnit };
+        }
+      }
+      if (options?.nodes?.arcs?.length) {
+        for (const arc of options.nodes.arcs) {
+          const field = frame.fields.find((field) => field.name.toLowerCase() === arc.field);
+          if (field && arc.color) {
+            field.config = { ...field.config, color: { fixedColor: arc.color, mode: FieldColorModeId.Fixed } };
+          }
+        }
+      }
+    }
+    return frame;
+  });
+};