diff --git a/packages/grafana-data/src/types/pluginExtensions.ts b/packages/grafana-data/src/types/pluginExtensions.ts
index 9a02e5fac27..47e130afcce 100644
--- a/packages/grafana-data/src/types/pluginExtensions.ts
+++ b/packages/grafana-data/src/types/pluginExtensions.ts
@@ -181,6 +181,15 @@ export type PluginExtensionEventHelpers<Context extends object = object> = {
    * Closes the extension sidebar.
    */
   closeSidebar: () => void;
+  /**
+   * @internal
+   * Toggles the extension sidebar with the registered component.
+   * If the sidebar is open with the same component, it will be closed.
+   * If the sidebar is closed or open with a different component, it will be opened with the specified component.
+   * @param componentTitle The title of the component to be toggled in the sidebar.
+   * @param props The props to be passed to the component.
+   */
+  toggleSidebar: (componentTitle: string, props?: Record<string, unknown>) => void;
 };
 
 // Extension Points & Contexts
diff --git a/public/app/core/components/AppChrome/ExtensionSidebar/ExtensionSidebarProvider.test.tsx b/public/app/core/components/AppChrome/ExtensionSidebar/ExtensionSidebarProvider.test.tsx
index 955c85923b6..c6c8ee37239 100644
--- a/public/app/core/components/AppChrome/ExtensionSidebar/ExtensionSidebarProvider.test.tsx
+++ b/public/app/core/components/AppChrome/ExtensionSidebar/ExtensionSidebarProvider.test.tsx
@@ -1,9 +1,9 @@
 import { render, screen, act } from '@testing-library/react';
 
-import { store, EventBusSrv, EventBus } from '@grafana/data';
+import { store, EventBusSrv, EventBus, ExtensionInfo } from '@grafana/data';
 import { getAppEvents, setAppEvents, locationService } from '@grafana/runtime';
 import { getExtensionPointPluginMeta } from 'app/features/plugins/extensions/utils';
-import { OpenExtensionSidebarEvent, CloseExtensionSidebarEvent } from 'app/types/events';
+import { OpenExtensionSidebarEvent, CloseExtensionSidebarEvent, ToggleExtensionSidebarEvent } from 'app/types/events';
 
 import {
   ExtensionSidebarContextProvider,
@@ -17,11 +17,17 @@ const mockComponent = {
   title: 'Test Component',
   description: 'Test Description',
   targets: [],
-};
+} as ExtensionInfo;
+
+const mockDifferentComponent = {
+  title: 'Different Component',
+  description: 'Different Description',
+  targets: [],
+} as ExtensionInfo;
 
 const mockPluginMeta = {
   pluginId: 'grafana-investigations-app',
-  addedComponents: [mockComponent],
+  addedComponents: [mockComponent, mockDifferentComponent],
   addedLinks: [],
 };
 
@@ -54,6 +60,7 @@ jest.mock('@grafana/runtime', () => ({
         title: mockComponent.title,
       },
     ],
+    isLoading: false,
   })),
 }));
 
@@ -334,8 +341,133 @@ describe('ExtensionSidebarProvider', () => {
     expect(screen.getByTestId('docked-component-id')).toHaveTextContent('undefined');
   });
 
-  it('should unsubscribe from both OpenExtensionSidebarEvent and CloseExtensionSidebarEvent on unmount', () => {
-    const unsubscribeMocks = [jest.fn(), jest.fn()];
+  it('should subscribe to ToggleExtensionSidebarEvent', () => {
+    render(
+      <ExtensionSidebarContextProvider>
+        <TestComponent />
+      </ExtensionSidebarContextProvider>
+    );
+
+    expect(subscribeSpy).toHaveBeenCalledWith(ToggleExtensionSidebarEvent, expect.any(Function));
+  });
+
+  it('should toggle sidebar when receiving ToggleExtensionSidebarEvent', () => {
+    const TestComponentWithProps = () => {
+      const context = useExtensionSidebarContext();
+      return (
+        <div>
+          <div data-testid="is-open">{context.isOpen.toString()}</div>
+          <div data-testid="docked-component-id">{context.dockedComponentId || 'undefined'}</div>
+          <div data-testid="props">{context.props ? JSON.stringify(context.props) : 'undefined'}</div>
+        </div>
+      );
+    };
+
+    render(
+      <ExtensionSidebarContextProvider>
+        <TestComponentWithProps />
+      </ExtensionSidebarContextProvider>
+    );
+
+    // Sidebar is closed
+    expect(screen.getByTestId('is-open')).toHaveTextContent('false');
+
+    // Toggle the sidebar to open it
+    act(() => {
+      // Call the toggle event handler
+      const toggleEventSubscriberCall = subscribeSpy.mock.calls.find((call) => call[0] === ToggleExtensionSidebarEvent);
+      expect(toggleEventSubscriberCall).toBeDefined();
+      const [, subscriberFn] = toggleEventSubscriberCall!;
+
+      subscriberFn(
+        new ToggleExtensionSidebarEvent({
+          pluginId: 'grafana-investigations-app',
+          componentTitle: 'Test Component',
+          props: { testProp: 'test value' },
+        })
+      );
+    });
+
+    // Sidebar is open
+    expect(screen.getByTestId('is-open')).toHaveTextContent('true');
+    expect(screen.getByTestId('props')).toHaveTextContent('{"testProp":"test value"}');
+    const expectedComponentId = JSON.stringify({
+      pluginId: 'grafana-investigations-app',
+      componentTitle: 'Test Component',
+    });
+    expect(screen.getByTestId('docked-component-id')).toHaveTextContent(expectedComponentId);
+
+    // Toggle the sidebar to close it
+    act(() => {
+      // Call the toggle event handler
+      const toggleEventSubscriberCall = subscribeSpy.mock.calls
+        .slice()
+        .reverse()
+        .find((call) => call[0] === ToggleExtensionSidebarEvent);
+      expect(toggleEventSubscriberCall).toBeDefined();
+      const [, subscriberFn] = toggleEventSubscriberCall!;
+
+      subscriberFn(
+        new ToggleExtensionSidebarEvent({
+          pluginId: mockPluginMeta.pluginId,
+          componentTitle: mockComponent.title,
+        })
+      );
+    });
+
+    expect(screen.getByTestId('is-open')).toHaveTextContent('false');
+    expect(screen.getByTestId('docked-component-id')).toHaveTextContent('undefined');
+  });
+
+  it('should toggle to different component when receiving ToggleExtensionSidebarEvent for different component', () => {
+    const componentId = getComponentIdFromComponentMeta(mockPluginMeta.pluginId, mockComponent.title);
+    (store.get as jest.Mock).mockReturnValue(componentId);
+
+    const TestComponentWithProps = () => {
+      const context = useExtensionSidebarContext();
+      return (
+        <div>
+          <div data-testid="is-open">{context.isOpen.toString()}</div>
+          <div data-testid="docked-component-id">{context.dockedComponentId || 'undefined'}</div>
+          <button onClick={() => context.setDockedComponentId(componentId)}>Open Sidebar</button>
+        </div>
+      );
+    };
+
+    render(
+      <ExtensionSidebarContextProvider>
+        <TestComponentWithProps />
+      </ExtensionSidebarContextProvider>
+    );
+
+    act(() => {
+      // Find the ToggleExtensionSidebarEvent subscriber
+      const toggleEventSubscriberCall = subscribeSpy.mock.calls
+        .slice()
+        .reverse()
+        .find((call) => call[0] === ToggleExtensionSidebarEvent);
+      expect(toggleEventSubscriberCall).toBeDefined();
+      const [, subscriberFn] = toggleEventSubscriberCall!;
+
+      // Call the toggle event handler with a different component
+      subscriberFn(
+        new ToggleExtensionSidebarEvent({
+          pluginId: mockPluginMeta.pluginId,
+          componentTitle: 'Different Component',
+        })
+      );
+    });
+
+    expect(screen.getByTestId('is-open')).toHaveTextContent('true');
+    const expectedComponentId = JSON.stringify({
+      pluginId: mockPluginMeta.pluginId,
+      componentTitle: 'Different Component',
+    });
+    expect(screen.getByTestId('docked-component-id')).toHaveTextContent(expectedComponentId);
+  });
+
+  it('should unsubscribe from all event subscriptions on unmount', () => {
+    const unsubscribeMocks = [jest.fn(), jest.fn(), jest.fn()];
     let callIndex = 0;
 
     subscribeSpy.mockImplementation(() => ({
@@ -350,9 +482,10 @@ describe('ExtensionSidebarProvider', () => {
 
     unmount();
 
-    // Both event subscriptions should be unsubscribed
+    // All event subscriptions should be unsubscribed
     expect(unsubscribeMocks[0]).toHaveBeenCalled();
     expect(unsubscribeMocks[1]).toHaveBeenCalled();
+    expect(unsubscribeMocks[2]).toHaveBeenCalled();
   });
 
   it('should subscribe to location service observable', () => {
diff --git a/public/app/core/components/AppChrome/ExtensionSidebar/ExtensionSidebarProvider.tsx b/public/app/core/components/AppChrome/ExtensionSidebar/ExtensionSidebarProvider.tsx
index 9dcb1cf1edb..89073d6779a 100644
--- a/public/app/core/components/AppChrome/ExtensionSidebar/ExtensionSidebarProvider.tsx
+++ b/public/app/core/components/AppChrome/ExtensionSidebar/ExtensionSidebarProvider.tsx
@@ -4,7 +4,7 @@ import { useLocalStorage } from 'react-use';
 import { PluginExtensionPoints, store } from '@grafana/data';
 import { getAppEvents, reportInteraction, usePluginLinks, locationService } from '@grafana/runtime';
 import { ExtensionPointPluginMeta, getExtensionPointPluginMeta } from 'app/features/plugins/extensions/utils';
-import { CloseExtensionSidebarEvent, OpenExtensionSidebarEvent } from 'app/types/events';
+import { CloseExtensionSidebarEvent, OpenExtensionSidebarEvent, ToggleExtensionSidebarEvent } from 'app/types/events';
 
 import { DEFAULT_EXTENSION_SIDEBAR_WIDTH, MAX_EXTENSION_SIDEBAR_WIDTH } from './ExtensionSidebar';
 
@@ -174,13 +174,28 @@ export const ExtensionSidebarContextProvider = ({ children }: ExtensionSidebarCo
       setDockedComponentId(undefined);
     };
 
+    const toggleSidebarHandler = (event: ToggleExtensionSidebarEvent) => {
+      const currentComponentMeta = getComponentMetaFromComponentId(dockedComponentId ?? '');
+      const isCurrentlyOpen =
+        currentComponentMeta?.pluginId === event.payload.pluginId &&
+        currentComponentMeta?.componentTitle === event.payload.componentTitle;
+
+      if (isCurrentlyOpen) {
+        closeSidebarHandler();
+      } else {
+        openSidebarHandler(event);
+      }
+    };
+
     const openSubscription = getAppEvents().subscribe(OpenExtensionSidebarEvent, openSidebarHandler);
     const closeSubscription = getAppEvents().subscribe(CloseExtensionSidebarEvent, closeSidebarHandler);
+    const toggleSubscription = getAppEvents().subscribe(ToggleExtensionSidebarEvent, toggleSidebarHandler);
     return () => {
       openSubscription.unsubscribe();
       closeSubscription.unsubscribe();
+      toggleSubscription.unsubscribe();
     };
-  }, [setDockedComponentWithProps, availableComponents]);
+  }, [setDockedComponentWithProps, availableComponents, dockedComponentId]);
 
   // update the stored docked component id when it changes
   useEffect(() => {
diff --git a/public/app/features/plugins/extensions/utils.tsx b/public/app/features/plugins/extensions/utils.tsx
index ee064c0a387..a10460d786c 100644
--- a/public/app/features/plugins/extensions/utils.tsx
+++ b/public/app/features/plugins/extensions/utils.tsx
@@ -20,7 +20,12 @@ import { reportInteraction, config, AppPluginConfig } from '@grafana/runtime';
 import { Modal } from '@grafana/ui';
 import appEvents from 'app/core/app_events';
 import { getPluginSettings } from 'app/features/plugins/pluginSettings';
-import { CloseExtensionSidebarEvent, OpenExtensionSidebarEvent, ShowModalReactEvent } from 'app/types/events';
+import {
+  CloseExtensionSidebarEvent,
+  OpenExtensionSidebarEvent,
+  ShowModalReactEvent,
+  ToggleExtensionSidebarEvent,
+} from 'app/types/events';
 
 import { RestrictedGrafanaApisProvider } from '../components/restrictedGrafanaApis/RestrictedGrafanaApisProvider';
 
@@ -550,6 +555,15 @@ export function getLinkExtensionOnClick(
         closeSidebar: () => {
           appEvents.publish(new CloseExtensionSidebarEvent());
         },
+        toggleSidebar: (componentTitle, context) => {
+          appEvents.publish(
+            new ToggleExtensionSidebarEvent({
+              props: context,
+              pluginId,
+              componentTitle,
+            })
+          );
+        },
       };
 
       log.debug(`onClick '${config.title}' at '${extensionPointId}'`);
diff --git a/public/app/types/events.ts b/public/app/types/events.ts
index 978dfbf811f..5c7e4ba151b 100644
--- a/public/app/types/events.ts
+++ b/public/app/types/events.ts
@@ -34,6 +34,12 @@ export interface OpenExtensionSidebarPayload {
   componentTitle: string;
 }
 
+export interface ToggleExtensionSidebarPayload {
+  props?: Record<string, unknown>;
+  pluginId: string;
+  componentTitle: string;
+}
+
 export interface ShowConfirmModalPayload {
   title?: string;
   text?: string;
@@ -181,6 +187,10 @@ export class CloseExtensionSidebarEvent extends BusEventBase {
   static type = 'close-extension-sidebar';
 }
 
+export class ToggleExtensionSidebarEvent extends BusEventWithPayload<ToggleExtensionSidebarPayload> {
+  static type = 'toggle-extension-sidebar';
+}
+
 /**
  * @deprecated use ShowModalReactEvent instead that has this capability built in
  */