diff --git a/components/RangeSelector/src/RangeSelector.Input.Drag.cs b/components/RangeSelector/src/RangeSelector.Input.Drag.cs
index 5e5e051c..80904df9 100644
--- a/components/RangeSelector/src/RangeSelector.Input.Drag.cs
+++ b/components/RangeSelector/src/RangeSelector.Input.Drag.cs
@@ -136,7 +136,7 @@ private void Thumb_DragStarted(Thumb thumb)
 
         if (_toolTip != null)
         {
-            if (Orientation == Orientation.Vertical && VerticalToolTipPlacement == VerticalToolTipPlacement.None)
+            if (!IsThumbToolTipEnabled || (Orientation == Orientation.Vertical && VerticalToolTipPlacement == VerticalToolTipPlacement.None))
             {
                 _toolTip.Visibility = Visibility.Collapsed;
             }
diff --git a/components/RangeSelector/src/RangeSelector.Input.Key.cs b/components/RangeSelector/src/RangeSelector.Input.Key.cs
index 9e29c4ed..390f5f53 100644
--- a/components/RangeSelector/src/RangeSelector.Input.Key.cs
+++ b/components/RangeSelector/src/RangeSelector.Input.Key.cs
@@ -77,6 +77,7 @@ private void MaxThumb_KeyDown(object sender, KeyRoutedEventArgs e)
 
     private void ShowToolTip()
     {
+        if (!IsThumbToolTipEnabled) return;
         var isHorizontal = Orientation == Orientation.Horizontal;
         if (!isHorizontal && VerticalToolTipPlacement == VerticalToolTipPlacement.None) return;
         if (_toolTip != null)
diff --git a/components/RangeSelector/src/RangeSelector.Properties.cs b/components/RangeSelector/src/RangeSelector.Properties.cs
index 264a1ec0..7fdefb24 100644
--- a/components/RangeSelector/src/RangeSelector.Properties.cs
+++ b/components/RangeSelector/src/RangeSelector.Properties.cs
@@ -79,6 +79,26 @@ public partial class RangeSelector : Control
             typeof(RangeSelector),
             new PropertyMetadata(VerticalToolTipPlacement.Right));
 
+    /// <summary>
+    /// Identifies the <see cref="IsThumbToolTipEnabled"/> property.
+    /// </summary>
+    public static readonly DependencyProperty IsThumbToolTipEnabledProperty =
+        DependencyProperty.Register(
+            nameof(IsThumbToolTipEnabled),
+            typeof(bool),
+            typeof(RangeSelector),
+            new PropertyMetadata(true));
+
+    /// <summary>
+    /// Identifies the <see cref="ThumbToolTipValueConverter"/> property.
+    /// </summary>
+    public static readonly DependencyProperty ThumbToolTipValueConverterProperty =
+        DependencyProperty.Register(
+            nameof(ThumbToolTipValueConverter),
+            typeof(IValueConverter),
+            typeof(RangeSelector),
+            new PropertyMetadata(null));
+
     /// <summary>
     /// Gets or sets the absolute minimum value of the range.
     /// </summary>
@@ -164,6 +184,32 @@ public VerticalToolTipPlacement VerticalToolTipPlacement
         set => SetValue(VerticalToolTipPlacementProperty, value);
     }
 
+    /// <summary>
+    /// Gets or sets a value that indicates whether a tooltip that displays the current value
+    /// is shown for the min and max thumbs.
+    /// </summary>
+    /// <value>
+    /// true if a tooltip is shown for the min and max thumbs; otherwise, false. The default is true.
+    /// </value>
+    public bool IsThumbToolTipEnabled
+    {
+        get => (bool)GetValue(IsThumbToolTipEnabledProperty);
+        set => SetValue(IsThumbToolTipEnabledProperty, value);
+    }
+
+    /// <summary>
+    /// Gets or sets a custom <see cref="IValueConverter"/> to be used for the tooltip text conversion
+    /// when <see cref="IsThumbToolTipEnabled"/> is set to true.
+    /// </summary>
+    /// <value>
+    /// The converter used to convert the thumb value to a display string. The default is null.
+    /// </value>
+    public IValueConverter ThumbToolTipValueConverter
+    {
+        get => (IValueConverter)GetValue(ThumbToolTipValueConverterProperty);
+        set => SetValue(ThumbToolTipValueConverterProperty, value);
+    }
+
     private static void OrientationChangedCallback(DependencyObject d, DependencyPropertyChangedEventArgs e)
     {
         var rangeSelector = d as RangeSelector;
diff --git a/components/RangeSelector/src/RangeSelector.cs b/components/RangeSelector/src/RangeSelector.cs
index c539d6a2..2ddba6b8 100644
--- a/components/RangeSelector/src/RangeSelector.cs
+++ b/components/RangeSelector/src/RangeSelector.cs
@@ -165,7 +165,9 @@ private static void UpdateToolTipText(RangeSelector rangeSelector, TextBlock too
     {
         if (toolTip != null)
         {
-            toolTip.Text = string.Format("{0:0.##}", newValue);
+            var converter = rangeSelector.ThumbToolTipValueConverter;
+            var convertedText = converter?.Convert(newValue, typeof(string), null, string.Empty) as string;
+            toolTip.Text = convertedText ?? string.Format("{0:0.##}", newValue);
         }
     }