diff --git a/docs/reference-guides/core-blocks.md b/docs/reference-guides/core-blocks.md
index 1dee5a7509d7b1..82d6828bd38363 100644
--- a/docs/reference-guides/core-blocks.md
+++ b/docs/reference-guides/core-blocks.md
@@ -546,7 +546,7 @@ Display a post's excerpt. ([Source](https://github.com/WordPress/gutenberg/tree/
 -	**Name:** core/post-excerpt
 -	**Category:** theme
 -	**Supports:** anchor, color (background, gradients, link, text), spacing (margin, padding), typography (fontSize, lineHeight), ~~html~~
--	**Attributes:** excerptLength, moreText, showMoreOnNewLine, textAlign
+-	**Attributes:** excerptLength, moreText, previewPlaceholder, showMoreOnNewLine, textAlign
 
 ## Post Featured Image
 
diff --git a/packages/block-library/src/post-excerpt/block.json b/packages/block-library/src/post-excerpt/block.json
index 53a92cb0bda639..fd0cb7fcb42c5b 100644
--- a/packages/block-library/src/post-excerpt/block.json
+++ b/packages/block-library/src/post-excerpt/block.json
@@ -20,6 +20,9 @@
 		"excerptLength": {
 			"type": "number",
 			"default": 55
+		},
+		"previewPlaceholder": {
+			"type": "string"
 		}
 	},
 	"usesContext": [ "postId", "postType", "queryId" ],
diff --git a/packages/block-library/src/post-excerpt/edit.js b/packages/block-library/src/post-excerpt/edit.js
index 378aa34cd00baa..9576894e937498 100644
--- a/packages/block-library/src/post-excerpt/edit.js
+++ b/packages/block-library/src/post-excerpt/edit.js
@@ -25,7 +25,13 @@ import { __, _x } from '@wordpress/i18n';
 import { useCanEditEntity } from '../utils/hooks';
 
 export default function PostExcerptEditor( {
-	attributes: { textAlign, moreText, showMoreOnNewLine, excerptLength },
+	attributes: {
+		textAlign,
+		moreText,
+		showMoreOnNewLine,
+		excerptLength,
+		previewPlaceholder,
+	},
 	setAttributes,
 	isSelected,
 	context: { postId, postType, queryId },
@@ -78,14 +84,11 @@ export default function PostExcerptEditor( {
 				</BlockControls>
 				<div { ...blockProps }>
 					<p>
-						{ __(
-							'This is the Post Excerpt block, it will display the excerpt from single posts.'
-						) }
-					</p>
-					<p>
-						{ __(
-							'If there are any Custom Post Types with support for excerpts, the Post Excerpt block can display the excerpts of those entries as well.'
-						) }
+						{ previewPlaceholder
+							? previewPlaceholder
+							: __(
+									'This is the Post Excerpt block, it will display the excerpt'
+							  ) }
 					</p>
 				</div>
 			</>