diff --git a/packages/grafana-ui/src/components/Select/Select.story.tsx b/packages/grafana-ui/src/components/Select/Select.story.tsx
index 4578e210f6b..cafb86f2227 100644
--- a/packages/grafana-ui/src/components/Select/Select.story.tsx
+++ b/packages/grafana-ui/src/components/Select/Select.story.tsx
@@ -24,6 +24,8 @@ export default {
   },
 };
 
+const BEHAVIOUR_GROUP = 'Behaviour props';
+
 const loadAsyncOptions = () => {
   return new Promise<Array<SelectableValue<string>>>(resolve => {
     setTimeout(() => {
@@ -33,7 +35,6 @@ const loadAsyncOptions = () => {
 };
 
 const getKnobs = () => {
-  const BEHAVIOUR_GROUP = 'Behaviour props';
   const disabled = boolean('Disabled', false, BEHAVIOUR_GROUP);
   const invalid = boolean('Invalid', false, BEHAVIOUR_GROUP);
   const loading = boolean('Loading', false, BEHAVIOUR_GROUP);
@@ -66,6 +67,18 @@ const getKnobs = () => {
   };
 };
 
+const getMultiSelectKnobs = () => {
+  const isClearable = boolean('Clearable', false, BEHAVIOUR_GROUP);
+  const closeMenuOnSelect = boolean('Close on Select', false, BEHAVIOUR_GROUP);
+  const maxVisibleValues = number('Max. visible values', 5, undefined, BEHAVIOUR_GROUP);
+
+  return {
+    isClearable,
+    closeMenuOnSelect,
+    maxVisibleValues,
+  };
+};
+
 const getDynamicProps = () => {
   const knobs = getKnobs();
   return {
@@ -177,6 +190,7 @@ export const multiSelect = () => {
           setValue(v);
         }}
         {...getDynamicProps()}
+        {...getMultiSelectKnobs()}
       />
     </>
   );
diff --git a/packages/grafana-ui/src/components/Select/SelectBase.test.tsx b/packages/grafana-ui/src/components/Select/SelectBase.test.tsx
index 99a8c550950..8c1c5cde710 100644
--- a/packages/grafana-ui/src/components/Select/SelectBase.test.tsx
+++ b/packages/grafana-ui/src/components/Select/SelectBase.test.tsx
@@ -2,6 +2,7 @@ import React from 'react';
 import { mount, ReactWrapper } from 'enzyme';
 import { SelectBase } from './SelectBase';
 import { SelectableValue } from '@grafana/data';
+import { MultiValueContainer } from './MultiValue';
 
 const onChangeHandler = () => jest.fn();
 const findMenuElement = (container: ReactWrapper) => container.find({ 'aria-label': 'Select options menu' });
@@ -54,6 +55,107 @@ describe('SelectBase', () => {
     });
   });
 
+  describe('when maxVisibleValues prop', () => {
+    let excessiveOptions: Array<SelectableValue<number>> = [];
+    beforeAll(() => {
+      excessiveOptions = [
+        {
+          label: 'Option 1',
+          value: 1,
+        },
+        {
+          label: 'Option 2',
+          value: 2,
+        },
+        {
+          label: 'Option 3',
+          value: 3,
+        },
+        {
+          label: 'Option 4',
+          value: 4,
+        },
+        {
+          label: 'Option 5',
+          value: 5,
+        },
+      ];
+    });
+
+    describe('is provided', () => {
+      it('should only display maxVisibleValues options, and additional number of values should be displayed as indicator', () => {
+        const container = mount(
+          <SelectBase
+            onChange={onChangeHandler}
+            isMulti={true}
+            maxVisibleValues={3}
+            options={excessiveOptions}
+            value={excessiveOptions}
+            isOpen={false}
+          />
+        );
+
+        expect(container.find(MultiValueContainer)).toHaveLength(3);
+        expect(container.find('#excess-values').text()).toBe('(+2)');
+      });
+
+      describe('and showAllSelectedWhenOpen prop is true', () => {
+        it('should show all selected options when menu is open', () => {
+          const container = mount(
+            <SelectBase
+              onChange={onChangeHandler}
+              isMulti={true}
+              maxVisibleValues={3}
+              options={excessiveOptions}
+              value={excessiveOptions}
+              showAllSelectedWhenOpen={true}
+              isOpen={true}
+            />
+          );
+
+          expect(container.find(MultiValueContainer)).toHaveLength(5);
+          expect(container.find('#excess-values')).toHaveLength(0);
+        });
+      });
+
+      describe('and showAllSelectedWhenOpen prop is false', () => {
+        it('should not show all selected options when menu is open', () => {
+          const container = mount(
+            <SelectBase
+              onChange={onChangeHandler}
+              isMulti={true}
+              maxVisibleValues={3}
+              value={excessiveOptions}
+              options={excessiveOptions}
+              showAllSelectedWhenOpen={false}
+              isOpen={true}
+            />
+          );
+
+          expect(container.find('#excess-values').text()).toBe('(+2)');
+          expect(container.find(MultiValueContainer)).toHaveLength(3);
+        });
+      });
+    });
+
+    describe('is not provided', () => {
+      it('should always show all selected options', () => {
+        const container = mount(
+          <SelectBase
+            onChange={onChangeHandler}
+            isMulti={true}
+            options={excessiveOptions}
+            value={excessiveOptions}
+            isOpen={false}
+          />
+        );
+
+        expect(container.find(MultiValueContainer)).toHaveLength(5);
+        expect(container.find('#excess-values')).toHaveLength(0);
+      });
+    });
+  });
+
   describe('options', () => {
     it('renders menu with provided options', () => {
       const container = mount(<SelectBase options={options} onChange={onChangeHandler} isOpen />);
diff --git a/packages/grafana-ui/src/components/Select/SelectBase.tsx b/packages/grafana-ui/src/components/Select/SelectBase.tsx
index 82f9e219a9d..8cd1fdcfc83 100644
--- a/packages/grafana-ui/src/components/Select/SelectBase.tsx
+++ b/packages/grafana-ui/src/components/Select/SelectBase.tsx
@@ -24,6 +24,31 @@ import { getSelectStyles } from './getSelectStyles';
 import { cleanValue } from './utils';
 import { SelectBaseProps, SelectValue } from './types';
 
+interface ExtraValuesIndicatorProps {
+  maxVisibleValues?: number | undefined;
+  selectedValuesCount: number;
+  menuIsOpen: boolean;
+  showAllSelectedWhenOpen: boolean;
+}
+
+const renderExtraValuesIndicator = (props: ExtraValuesIndicatorProps) => {
+  const { maxVisibleValues, selectedValuesCount, menuIsOpen, showAllSelectedWhenOpen } = props;
+
+  if (
+    maxVisibleValues !== undefined &&
+    selectedValuesCount > maxVisibleValues &&
+    !(showAllSelectedWhenOpen && menuIsOpen)
+  ) {
+    return (
+      <span key="excess-values" id="excess-values">
+        (+{selectedValuesCount - maxVisibleValues})
+      </span>
+    );
+  }
+
+  return null;
+};
+
 const CustomControl = (props: any) => {
   const {
     children,
@@ -66,6 +91,7 @@ export function SelectBase<T>({
   allowCustomValue = false,
   autoFocus = false,
   backspaceRemovesValue = true,
+  closeMenuOnSelect = true,
   components,
   defaultOptions,
   defaultValue,
@@ -83,6 +109,7 @@ export function SelectBase<T>({
   loadOptions,
   loadingMessage = 'Loading options...',
   maxMenuHeight = 300,
+  maxVisibleValues,
   menuPosition,
   menuPlacement = 'auto',
   noOptionsMessage = 'No options found',
@@ -98,6 +125,7 @@ export function SelectBase<T>({
   placeholder = 'Choose',
   prefix,
   renderControl,
+  showAllSelectedWhenOpen = true,
   tabSelectsValue = true,
   className,
   value,
@@ -142,6 +170,7 @@ export function SelectBase<T>({
     autoFocus,
     backspaceRemovesValue,
     captureMenuScroll: false,
+    closeMenuOnSelect,
     defaultValue,
     // Also passing disabled, as this is the new Select API, and I want to use this prop instead of react-select's one
     disabled,
@@ -156,6 +185,7 @@ export function SelectBase<T>({
     isMulti,
     isSearchable,
     maxMenuHeight,
+    maxVisibleValues,
     menuIsOpen: isOpen,
     menuPlacement,
     menuPosition,
@@ -171,6 +201,7 @@ export function SelectBase<T>({
     placeholder,
     prefix,
     renderControl,
+    showAllSelectedWhenOpen,
     tabSelectsValue,
     value: isMulti ? selectedValue : selectedValue[0],
   };
@@ -196,7 +227,22 @@ export function SelectBase<T>({
         components={{
           MenuList: SelectMenu,
           Group: SelectOptionGroup,
-          ValueContainer: ValueContainer,
+          ValueContainer: (props: any) => {
+            const { menuIsOpen } = props.selectProps;
+            if (
+              Array.isArray(props.children) &&
+              Array.isArray(props.children[0]) &&
+              maxVisibleValues !== undefined &&
+              !(showAllSelectedWhenOpen && menuIsOpen)
+            ) {
+              const [valueChildren, ...otherChildren] = props.children;
+              const truncatedValues = valueChildren.slice(0, maxVisibleValues);
+
+              return <ValueContainer {...props} children={[truncatedValues, ...otherChildren]} />;
+            }
+
+            return <ValueContainer {...props} />;
+          },
           Placeholder: (props: any) => (
             <div
               {...props.innerProps}
@@ -216,7 +262,28 @@ export function SelectBase<T>({
               {props.children}
             </div>
           ),
-          IndicatorsContainer: IndicatorsContainer,
+          IndicatorsContainer: (props: any) => {
+            const { selectProps } = props;
+            const { value, showAllSelectedWhenOpen, maxVisibleValues, menuIsOpen } = selectProps;
+
+            if (maxVisibleValues !== undefined) {
+              const selectedValuesCount = value.length;
+              const indicatorChildren = [...props.children];
+              indicatorChildren.splice(
+                -1,
+                0,
+                renderExtraValuesIndicator({
+                  maxVisibleValues,
+                  selectedValuesCount,
+                  showAllSelectedWhenOpen,
+                  menuIsOpen,
+                })
+              );
+              return <IndicatorsContainer {...props} children={indicatorChildren} />;
+            }
+
+            return <IndicatorsContainer {...props} />;
+          },
           IndicatorSeparator: () => <></>,
           Control: CustomControl,
           Option: SelectMenuOptions,
diff --git a/packages/grafana-ui/src/components/Select/types.ts b/packages/grafana-ui/src/components/Select/types.ts
index cfe8fc07a17..038a2a169ba 100644
--- a/packages/grafana-ui/src/components/Select/types.ts
+++ b/packages/grafana-ui/src/components/Select/types.ts
@@ -9,6 +9,7 @@ export interface SelectCommonProps<T> {
   autoFocus?: boolean;
   backspaceRemovesValue?: boolean;
   className?: string;
+  closeMenuOnSelect?: boolean;
   /** Used for custom components. For more information, see `react-select` */
   components?: any;
   defaultValue?: any;
@@ -24,7 +25,9 @@ export interface SelectCommonProps<T> {
   isOpen?: boolean;
   /** Disables the possibility to type into the input*/
   isSearchable?: boolean;
+  showAllSelectedWhenOpen?: boolean;
   maxMenuHeight?: number;
+  maxVisibleValues?: number;
   menuPlacement?: 'auto' | 'bottom' | 'top';
   menuPosition?: 'fixed' | 'absolute';
   /** The message to display when no options could be found */