diff --git a/ui/components/component-library/component-library-components.scss b/ui/components/component-library/component-library-components.scss
index af5003d1e..e360bf5f9 100644
--- a/ui/components/component-library/component-library-components.scss
+++ b/ui/components/component-library/component-library-components.scss
@@ -10,6 +10,7 @@
 @import 'button-primary/button-primary';
 @import 'button-secondary/button-secondary';
 @import 'icon/icon';
+@import 'label/label';
 @import 'tag/tag';
 @import 'text/text';
 @import 'text-field/text-field';
diff --git a/ui/components/component-library/label/README.mdx b/ui/components/component-library/label/README.mdx
new file mode 100644
index 000000000..66868610f
--- /dev/null
+++ b/ui/components/component-library/label/README.mdx
@@ -0,0 +1,95 @@
+import { Story, Canvas, ArgsTable } from '@storybook/addon-docs';
+
+import { Label } from './label';
+
+# Label
+
+The `Label` is a component used to label form inputs.
+
+<Canvas>
+  <Story id="ui-components-component-library-label-label-stories-js--default-story" />
+</Canvas>
+
+## Props
+
+The `Label` accepts all props below as well as all [Text](/docs/ui-components-component-library-text-text-stories-js--default-story#props) and [Box](/docs/ui-components-ui-box-box-stories-js--default-story#props) component props.
+
+<ArgsTable of={Label} />
+
+### Children
+
+The `children` of the label can be text or a react node.
+
+<Canvas>
+  <Story id="ui-components-component-library-label-label-stories-js--children" />
+</Canvas>
+
+```jsx
+import { DISPLAY, ALIGN_ITEMS, FLEX_DIRECTION, SIZES, COLORS } from '../../../helpers/constants/design-system';
+import { Icon, ICON_NAMES } from '../../ui/component-library/icon';
+import { Label } from '../../ui/component-library/label';
+import { TextFieldBase } from '../../ui/component-library/text-field-base'
+
+<Label>Plain text</Label>
+<Label display={DISPLAY.FLEX} alignItems={ALIGN_ITEMS.FLEX_START}>
+  Text and icon
+  <Icon
+    color={COLORS.ICON_ALTERNATIVE}
+    name={ICON_NAMES.INFO_FILLED}
+    size={SIZES.AUTO}
+  />
+</Label>
+<Label
+  display={DISPLAY.INLINE_FLEX}
+  flexDirection={FLEX_DIRECTION.COLUMN}
+  alignItems={ALIGN_ITEMS.FLEX_START}
+>
+  Label that wraps an input
+  {/* TODO: replace with TextField component */}
+  <TextFieldBase placeholder="Click label to focus" />
+</Label>
+```
+
+### Html For
+
+Use the `htmlFor` prop to allow the `Label` to focus on an input with the same id when clicked. The cursor will also change to a `pointer` when the `htmlFor` has a value
+
+<Canvas>
+  <Story id="ui-components-component-library-label-label-stories-js--html-for" />
+</Canvas>
+
+```jsx
+import { TextFieldBase } from '../../ui/component-library/text-field-base';
+import { Label } from '../../ui/component-library/label';
+
+<Label htmlFor="add-network">Add network</Label>
+<TextFieldBase  id="add-network" placeholder="Enter network name" />
+```
+
+### Required
+
+Use the `required` prop to add a required red asterisk next to the `children` of the `Label`. Note the required asterisk will always render after the `children`.
+
+<Canvas>
+  <Story id="ui-components-component-library-label-label-stories-js--required" />
+</Canvas>
+
+```jsx
+import { Label } from '../../ui/component-library/label';
+
+<Label required>Label</Label>;
+```
+
+### Disabled
+
+Use the `disabled` prop to set the `Label` in disabled state
+
+<Canvas>
+  <Story id="ui-components-component-library-label-label-stories-js--disabled" />
+</Canvas>
+
+```jsx
+import { Label } from '../../ui/component-library/label';
+
+<Label disabled>Label</Label>;
+```
diff --git a/ui/components/component-library/label/index.js b/ui/components/component-library/label/index.js
new file mode 100644
index 000000000..f28365d90
--- /dev/null
+++ b/ui/components/component-library/label/index.js
@@ -0,0 +1 @@
+export { Label } from './label';
diff --git a/ui/components/component-library/label/label.js b/ui/components/component-library/label/label.js
new file mode 100644
index 000000000..aece4d958
--- /dev/null
+++ b/ui/components/component-library/label/label.js
@@ -0,0 +1,73 @@
+import React from 'react';
+import PropTypes from 'prop-types';
+import classnames from 'classnames';
+
+import {
+  COLORS,
+  FONT_WEIGHT,
+  TEXT,
+  DISPLAY,
+  ALIGN_ITEMS,
+} from '../../../helpers/constants/design-system';
+import { Text } from '../text';
+
+export const Label = ({
+  htmlFor,
+  required,
+  disabled,
+  className,
+  children,
+  ...props
+}) => (
+  <Text
+    as="label"
+    disabled={disabled}
+    htmlFor={htmlFor}
+    className={classnames(
+      'mm-label',
+      { 'mm-label--disabled': disabled },
+      { 'mm-label--html-for': htmlFor && !disabled },
+      className,
+    )}
+    variant={TEXT.BODY_MD}
+    fontWeight={FONT_WEIGHT.BOLD}
+    display={DISPLAY.INLINE_FLEX}
+    alignItems={ALIGN_ITEMS.CENTER}
+    {...props}
+  >
+    {children}
+    {required && (
+      <Text
+        as="span"
+        className="mm-label__required-asterisk"
+        aria-hidden="true"
+        color={COLORS.ERROR_DEFAULT}
+      >
+        *
+      </Text>
+    )}
+  </Text>
+);
+
+Label.propTypes = {
+  /**
+   * The content of the label
+   */
+  children: PropTypes.oneOfType([PropTypes.string, PropTypes.node]),
+  /**
+   * The id of the input associated with the label
+   */
+  htmlFor: PropTypes.string,
+  /**
+   * If true the label will display as required
+   */
+  required: PropTypes.bool,
+  /**
+   * Whether the label is disabled or not
+   */
+  disabled: PropTypes.bool,
+  /**
+   * Additional classNames to be added to the label component
+   */
+  className: PropTypes.string,
+};
diff --git a/ui/components/component-library/label/label.scss b/ui/components/component-library/label/label.scss
new file mode 100644
index 000000000..425048540
--- /dev/null
+++ b/ui/components/component-library/label/label.scss
@@ -0,0 +1,11 @@
+.mm-label {
+  --label-opacity-disabled: 0.5; // TODO: replace with design token
+
+  &--html-for {
+    cursor: pointer;
+  }
+
+  &--disabled {
+    opacity: var(--label-opacity-disabled);
+  }
+}
diff --git a/ui/components/component-library/label/label.stories.js b/ui/components/component-library/label/label.stories.js
new file mode 100644
index 000000000..0d3048bbc
--- /dev/null
+++ b/ui/components/component-library/label/label.stories.js
@@ -0,0 +1,112 @@
+import React, { useState } from 'react';
+import {
+  DISPLAY,
+  FLEX_DIRECTION,
+  COLORS,
+  SIZES,
+  ALIGN_ITEMS,
+} from '../../../helpers/constants/design-system';
+
+import Box from '../../ui/box';
+import { Icon, ICON_NAMES } from '../icon';
+import { TextFieldBase } from '../text-field-base';
+
+import { Label } from './label';
+
+import README from './README.mdx';
+
+export default {
+  title: 'Components/ComponentLibrary/Label',
+  id: __filename,
+  component: Label,
+  parameters: {
+    docs: {
+      page: README,
+    },
+  },
+  argTypes: {
+    htmlFor: {
+      control: 'text',
+    },
+    required: {
+      control: 'boolean',
+    },
+    disabled: {
+      control: 'boolean',
+    },
+    children: {
+      control: 'text',
+    },
+    className: {
+      control: 'text',
+    },
+  },
+  args: {
+    children: 'Label',
+  },
+};
+
+const Template = (args) => <Label {...args} />;
+
+export const DefaultStory = Template.bind({});
+DefaultStory.storyName = 'Default';
+
+export const Children = (args) => (
+  <Box
+    display={DISPLAY.INLINE_FLEX}
+    flexDirection={FLEX_DIRECTION.COLUMN}
+    gap={2}
+  >
+    <Label {...args}>Plain text</Label>
+    <Label {...args} display={DISPLAY.FLEX} alignItems={ALIGN_ITEMS.FLEX_START}>
+      Text and icon
+      <Icon
+        color={COLORS.ICON_ALTERNATIVE}
+        name={ICON_NAMES.INFO_FILLED}
+        size={SIZES.AUTO}
+      />
+    </Label>
+    <Label
+      {...args}
+      display={DISPLAY.INLINE_FLEX}
+      flexDirection={FLEX_DIRECTION.COLUMN}
+      alignItems={ALIGN_ITEMS.FLEX_START}
+    >
+      Label that wraps an input
+      {/* TODO: replace with TextField component */}
+      <TextFieldBase placeholder="Click label to focus" />
+    </Label>
+  </Box>
+);
+
+export const HtmlFor = (args) => {
+  const [value, setValue] = useState('');
+  const handleOnChange = (e) => {
+    setValue(e.target.value);
+  };
+  return (
+    <Box display={DISPLAY.INLINE_FLEX} flexDirection={FLEX_DIRECTION.COLUMN}>
+      <Label {...args} />
+      <TextFieldBase
+        id="add-network"
+        value={value}
+        onChange={handleOnChange}
+        placeholder="Enter network name"
+      />
+    </Box>
+  );
+};
+HtmlFor.args = {
+  children: 'Network name',
+  htmlFor: 'add-network',
+};
+
+export const Required = Template.bind({});
+Required.args = {
+  required: true,
+};
+
+export const Disabled = Template.bind({});
+Disabled.args = {
+  disabled: true,
+};
diff --git a/ui/components/component-library/label/label.test.js b/ui/components/component-library/label/label.test.js
new file mode 100644
index 000000000..44c703912
--- /dev/null
+++ b/ui/components/component-library/label/label.test.js
@@ -0,0 +1,67 @@
+/* eslint-disable jest/require-top-level-describe */
+import { fireEvent, render } from '@testing-library/react';
+import React from 'react';
+import { Icon, ICON_NAMES } from '../icon';
+import { TextFieldBase } from '../text-field-base';
+
+import { Label } from './label';
+
+describe('label', () => {
+  it('should render text inside the label', () => {
+    const { getByText } = render(<Label>label</Label>);
+    expect(getByText('label')).toBeDefined();
+  });
+  it('should render text and react nodes as children', () => {
+    const { getByText, getByTestId } = render(
+      <Label>
+        label
+        <Icon name={ICON_NAMES.INFO_FILLED} data-testid="icon" />
+      </Label>,
+    );
+    expect(getByText('label')).toBeDefined();
+    expect(getByTestId('icon')).toBeDefined();
+  });
+  it('should be able to accept an htmlFor prop and focus an input of a given id', () => {
+    const { getByText, getByRole } = render(
+      <>
+        <Label htmlFor="input">label</Label>
+        <TextFieldBase id="input" />
+      </>,
+    );
+    const input = getByRole('textbox');
+    const label = getByText('label');
+    expect(label).toBeDefined();
+    expect(input).not.toHaveFocus();
+    fireEvent.click(label);
+    expect(input).toHaveFocus();
+  });
+  it('should render when wrapping an input and focus input when clicked without htmlFor', () => {
+    const { getByText, getByRole } = render(
+      <>
+        <Label>
+          Label text
+          <TextFieldBase />
+        </Label>
+      </>,
+    );
+    const input = getByRole('textbox');
+    const label = getByText('Label text');
+    expect(label).toBeDefined();
+    expect(input).not.toHaveFocus();
+    fireEvent.click(label);
+    expect(input).toHaveFocus();
+  });
+  it('should render with required asterisk', () => {
+    const { getByText } = render(<Label required>label</Label>);
+    expect(getByText('label')).toBeDefined();
+    expect(getByText('*')).toBeDefined();
+  });
+  it('should render with disabled state and have disabled class', () => {
+    const { getByText } = render(<Label disabled>label</Label>);
+    expect(getByText('label')).toHaveClass('mm-label--disabled');
+  });
+  it('should render with additional className', () => {
+    const { getByText } = render(<Label className="test-class">label</Label>);
+    expect(getByText('label')).toHaveClass('test-class');
+  });
+});