diff --git a/assets/settings/default.json b/assets/settings/default.json
index d8286685b502fea9d531d4f631f06c979c985be0..74a4e15a044fa5686441f2e8a587595936ea08fb 100644
--- a/assets/settings/default.json
+++ b/assets/settings/default.json
@@ -2532,21 +2532,31 @@
     "format_dap_log_messages": true,
     "button": true,
   },
-  // Configures any number of settings profiles that are temporarily applied on
-  // top of your existing user settings when selected from
-  // `settings profile selector: toggle`.
+  // Configures any number of settings profiles that are temporarily applied
+  // when selected from `settings profile selector: toggle`.
+  //
+  // Each profile has an optional `base` ("user" or "default") and a `settings`
+  // object. When `base` is "user" (the default), the profile applies on top of
+  // your user settings. When `base` is "default", user settings are ignored and
+  // the profile applies on top of Zed's defaults.
+  //
   // Examples:
   // "profiles": {
   //   "Presenting": {
-  //     "agent_ui_font_size": 20.0,
-  //     "buffer_font_size": 20.0,
-  //     "theme": "One Light",
-  //     "ui_font_size": 20.0
+  //     "base": "default",
+  //     "settings": {
+  //       "agent_ui_font_size": 20.0,
+  //       "buffer_font_size": 20.0,
+  //       "theme": "One Light",
+  //       "ui_font_size": 20.0
+  //     }
   //   },
   //   "Python (ty)": {
-  //     "languages": {
-  //       "Python": {
-  //         "language_servers": ["ty"]
+  //     "settings": {
+  //       "languages": {
+  //         "Python": {
+  //           "language_servers": ["ty"]
+  //         }
   //       }
   //     }
   //   }
diff --git a/crates/migrator/src/migrations.rs b/crates/migrator/src/migrations.rs
index bc779908da7542c0bec34f799482929e96362770..625bd27e91e117662f9a47edaaac2ddaa7d2ba1c 100644
--- a/crates/migrator/src/migrations.rs
+++ b/crates/migrator/src/migrations.rs
@@ -322,3 +322,9 @@ pub(crate) mod m_2026_03_30 {
 
     pub(crate) use settings::make_play_sound_when_agent_done_an_enum;
 }
+
+pub(crate) mod m_2026_04_01 {
+    mod settings;
+
+    pub(crate) use settings::restructure_profiles_with_settings_key;
+}
diff --git a/crates/migrator/src/migrations/m_2026_04_01/settings.rs b/crates/migrator/src/migrations/m_2026_04_01/settings.rs
new file mode 100644
index 0000000000000000000000000000000000000000..240572fa7754e29d43b23f178115878a99760729
--- /dev/null
+++ b/crates/migrator/src/migrations/m_2026_04_01/settings.rs
@@ -0,0 +1,29 @@
+use anyhow::Result;
+use serde_json::Value;
+
+pub fn restructure_profiles_with_settings_key(value: &mut Value) -> Result<()> {
+    let Some(root_object) = value.as_object_mut() else {
+        return Ok(());
+    };
+
+    let Some(profiles) = root_object.get_mut("profiles") else {
+        return Ok(());
+    };
+
+    let Some(profiles_map) = profiles.as_object_mut() else {
+        return Ok(());
+    };
+
+    for profile_value in profiles_map.values_mut() {
+        if profile_value
+            .as_object()
+            .is_some_and(|m| m.contains_key("settings") || m.contains_key("base"))
+        {
+            continue;
+        }
+
+        *profile_value = serde_json::json!({ "settings": profile_value });
+    }
+
+    Ok(())
+}
diff --git a/crates/migrator/src/migrator.rs b/crates/migrator/src/migrator.rs
index 136ace8a12c03c831c3eebed97e2f5915ae6afa3..f49d102213c446be17c7d240d272cf4b516d912c 100644
--- a/crates/migrator/src/migrator.rs
+++ b/crates/migrator/src/migrator.rs
@@ -248,6 +248,7 @@ pub fn migrate_settings(text: &str) -> Result<Option<String>> {
             &SETTINGS_QUERY_2026_03_16,
         ),
         MigrationType::Json(migrations::m_2026_03_30::make_play_sound_when_agent_done_an_enum),
+        MigrationType::Json(migrations::m_2026_04_01::restructure_profiles_with_settings_key),
     ];
     run_migrations(text, migrations)
 }
@@ -4607,4 +4608,78 @@ mod tests {
             ),
         );
     }
+
+    #[test]
+    fn test_restructure_profiles_with_settings_key() {
+        assert_migrate_settings(
+            &r#"
+                {
+                    "buffer_font_size": 14,
+                    "profiles": {
+                        "Presenting": {
+                            "buffer_font_size": 20,
+                            "theme": "One Light"
+                        },
+                        "Minimal": {
+                            "vim_mode": true
+                        }
+                    }
+                }
+            "#
+            .unindent(),
+            Some(
+                &r#"
+                {
+                    "buffer_font_size": 14,
+                    "profiles": {
+                        "Presenting": {
+                            "settings": {
+                                "buffer_font_size": 20,
+                                "theme": "One Light"
+                            }
+                        },
+                        "Minimal": {
+                            "settings": {
+                                "vim_mode": true
+                            }
+                        }
+                    }
+                }
+            "#
+                .unindent(),
+            ),
+        );
+    }
+
+    #[test]
+    fn test_restructure_profiles_with_settings_key_already_migrated() {
+        assert_migrate_settings(
+            &r#"
+                {
+                    "profiles": {
+                        "Presenting": {
+                            "settings": {
+                                "buffer_font_size": 20
+                            }
+                        }
+                    }
+                }
+            "#
+            .unindent(),
+            None,
+        );
+    }
+
+    #[test]
+    fn test_restructure_profiles_with_settings_key_no_profiles() {
+        assert_migrate_settings(
+            &r#"
+                {
+                    "buffer_font_size": 14
+                }
+            "#
+            .unindent(),
+            None,
+        );
+    }
 }
diff --git a/crates/settings/src/settings.rs b/crates/settings/src/settings.rs
index 62b577c44520a6922798076cf085defea46d8688..1b75f9395e4f46ec5fd20231956d232c26005107 100644
--- a/crates/settings/src/settings.rs
+++ b/crates/settings/src/settings.rs
@@ -59,13 +59,13 @@ pub struct ActiveSettingsProfileName(pub String);
 impl Global for ActiveSettingsProfileName {}
 
 pub trait UserSettingsContentExt {
-    fn for_profile(&self, cx: &App) -> Option<&SettingsContent>;
+    fn for_profile(&self, cx: &App) -> Option<&SettingsProfile>;
     fn for_release_channel(&self) -> Option<&SettingsContent>;
     fn for_os(&self) -> Option<&SettingsContent>;
 }
 
 impl UserSettingsContentExt for UserSettingsContent {
-    fn for_profile(&self, cx: &App) -> Option<&SettingsContent> {
+    fn for_profile(&self, cx: &App) -> Option<&SettingsProfile> {
         let Some(active_profile) = cx.try_global::<ActiveSettingsProfileName>() else {
             return None;
         };
diff --git a/crates/settings/src/settings_store.rs b/crates/settings/src/settings_store.rs
index daaa8eb6b89c8954ef335f59692fbb059195e627..577ba43e1dd566d32eeec8993ec135633146b020 100644
--- a/crates/settings/src/settings_store.rs
+++ b/crates/settings/src/settings_store.rs
@@ -36,8 +36,8 @@ use crate::{
     LanguageToSettingsMap, LspSettings, LspSettingsMap, SemanticTokenRules, ThemeName,
     UserSettingsContentExt, VsCodeSettings, WorktreeId,
     settings_content::{
-        ExtensionsSettingsContent, ProjectSettingsContent, RootUserSettings, SettingsContent,
-        UserSettingsContent, merge_from::MergeFrom,
+        ExtensionsSettingsContent, ProfileBase, ProjectSettingsContent, RootUserSettings,
+        SettingsContent, UserSettingsContent, merge_from::MergeFrom,
     },
 };
 
@@ -1210,10 +1210,19 @@ impl SettingsStore {
             merged.merge_from_option(self.extension_settings.as_deref());
             merged.merge_from_option(self.global_settings.as_deref());
             if let Some(user_settings) = self.user_settings.as_ref() {
-                merged.merge_from(&user_settings.content);
-                merged.merge_from_option(user_settings.for_release_channel());
-                merged.merge_from_option(user_settings.for_os());
-                merged.merge_from_option(user_settings.for_profile(cx));
+                let active_profile = user_settings.for_profile(cx);
+                let should_merge_user_settings =
+                    active_profile.is_none_or(|profile| profile.base == ProfileBase::User);
+
+                if should_merge_user_settings {
+                    merged.merge_from(&user_settings.content);
+                    merged.merge_from_option(user_settings.for_release_channel());
+                    merged.merge_from_option(user_settings.for_os());
+                }
+
+                if let Some(profile) = active_profile {
+                    merged.merge_from(&profile.settings);
+                }
             }
             merged.merge_from_option(self.server_settings.as_deref());
 
diff --git a/crates/settings_content/src/settings_content.rs b/crates/settings_content/src/settings_content.rs
index f8c64191dfe2602744e783f6d52484c45a7756d2..325e86e9e3af0fb888c2691f4be1b0fdeb06dfb4 100644
--- a/crates/settings_content/src/settings_content.rs
+++ b/crates/settings_content/src/settings_content.rs
@@ -265,6 +265,35 @@ settings_overrides! {
     pub struct PlatformOverrides { macos, linux, windows }
 }
 
+/// Determines what settings a profile starts from before applying its overrides.
+#[derive(
+    Debug, Clone, Copy, Default, PartialEq, Eq, Serialize, Deserialize, JsonSchema, MergeFrom,
+)]
+#[serde(rename_all = "snake_case")]
+pub enum ProfileBase {
+    /// Apply profile settings on top of the user's current settings.
+    #[default]
+    User,
+    /// Apply profile settings on top of Zed's default settings, ignoring user customizations.
+    Default,
+}
+
+/// A named settings profile that can temporarily override settings.
+#[with_fallible_options]
+#[derive(Debug, Default, PartialEq, Clone, Serialize, Deserialize, JsonSchema, MergeFrom)]
+pub struct SettingsProfile {
+    /// What base settings to start from before applying this profile's overrides.
+    ///
+    /// - `user`: Apply on top of user's settings (default)
+    /// - `default`: Apply on top of Zed's default settings, ignoring user customizations
+    #[serde(default)]
+    pub base: ProfileBase,
+
+    /// The settings overrides for this profile.
+    #[serde(default)]
+    pub settings: Box<SettingsContent>,
+}
+
 #[with_fallible_options]
 #[derive(Debug, Default, PartialEq, Clone, Serialize, Deserialize, JsonSchema, MergeFrom)]
 pub struct UserSettingsContent {
@@ -278,7 +307,7 @@ pub struct UserSettingsContent {
     pub platform_overrides: PlatformOverrides,
 
     #[serde(default)]
-    pub profiles: IndexMap<String, SettingsContent>,
+    pub profiles: IndexMap<String, SettingsProfile>,
 }
 
 pub struct ExtensionsSettingsContent {
diff --git a/crates/settings_profile_selector/src/settings_profile_selector.rs b/crates/settings_profile_selector/src/settings_profile_selector.rs
index a948b603e04c43a6740853b7c37aebb2ba8d7ee9..c273a08ce7427880a02cb375561aaaade2607b83 100644
--- a/crates/settings_profile_selector/src/settings_profile_selector.rs
+++ b/crates/settings_profile_selector/src/settings_profile_selector.rs
@@ -291,7 +291,7 @@ mod tests {
     use zed_actions::settings_profile_selector;
 
     async fn init_test(
-        profiles_json: serde_json::Value,
+        user_settings_json: serde_json::Value,
         cx: &mut TestAppContext,
     ) -> (Entity<Workspace>, &mut VisualTestContext) {
         cx.update(|cx| {
@@ -307,13 +307,8 @@ mod tests {
 
         cx.update(|cx| {
             SettingsStore::update_global(cx, |store, cx| {
-                let settings_json = json!({
-                    "buffer_font_size": 10.0,
-                    "profiles": profiles_json,
-                });
-
                 store
-                    .set_user_settings(&settings_json.to_string(), cx)
+                    .set_user_settings(&user_settings_json.to_string(), cx)
                     .unwrap();
             });
         });
@@ -328,7 +323,6 @@ mod tests {
 
         cx.update(|_, cx| {
             assert!(!cx.has_global::<ActiveSettingsProfileName>());
-            assert_eq!(ThemeSettings::get_global(cx).buffer_font_size(cx), px(10.0));
         });
 
         (workspace, cx)
@@ -354,15 +348,22 @@ mod tests {
         let classroom_and_streaming_profile_name = "Classroom / Streaming".to_string();
         let demo_videos_profile_name = "Demo Videos".to_string();
 
-        let profiles_json = json!({
-            classroom_and_streaming_profile_name.clone(): {
-                "buffer_font_size": 20.0,
-            },
-            demo_videos_profile_name.clone(): {
-                "buffer_font_size": 15.0
+        let user_settings_json = json!({
+            "buffer_font_size": 10.0,
+            "profiles": {
+                classroom_and_streaming_profile_name.clone(): {
+                    "settings": {
+                        "buffer_font_size": 20.0,
+                    }
+                },
+                demo_videos_profile_name.clone(): {
+                    "settings": {
+                        "buffer_font_size": 15.0
+                    }
+                }
             }
         });
-        let (workspace, cx) = init_test(profiles_json.clone(), cx).await;
+        let (workspace, cx) = init_test(user_settings_json, cx).await;
 
         cx.dispatch_action(settings_profile_selector::Toggle);
         let picker = active_settings_profile_picker(&workspace, cx);
@@ -575,24 +576,134 @@ mod tests {
         });
     }
 
+    #[gpui::test]
+    async fn test_settings_profile_with_user_base(cx: &mut TestAppContext) {
+        let user_settings_json = json!({
+            "buffer_font_size": 10.0,
+            "profiles": {
+                "Explicit User": {
+                    "base": "user",
+                    "settings": {
+                        "buffer_font_size": 20.0
+                    }
+                },
+                "Implicit User": {
+                    "settings": {
+                        "buffer_font_size": 20.0
+                    }
+                }
+            }
+        });
+        let (workspace, cx) = init_test(user_settings_json, cx).await;
+
+        // Select "Explicit User" (index 1) — profile applies on top of user settings.
+        cx.dispatch_action(settings_profile_selector::Toggle);
+        let picker = active_settings_profile_picker(&workspace, cx);
+        cx.dispatch_action(SelectNext);
+
+        picker.read_with(cx, |picker, cx| {
+            assert_eq!(
+                picker.delegate.selected_profile_name.as_deref(),
+                Some("Explicit User")
+            );
+            assert_eq!(ThemeSettings::get_global(cx).buffer_font_size(cx), px(20.0));
+        });
+
+        cx.dispatch_action(Confirm);
+
+        // Select "Implicit User" (index 2) — no base specified, same behavior.
+        cx.dispatch_action(settings_profile_selector::Toggle);
+        let picker = active_settings_profile_picker(&workspace, cx);
+        cx.dispatch_action(SelectNext);
+
+        picker.read_with(cx, |picker, cx| {
+            assert_eq!(
+                picker.delegate.selected_profile_name.as_deref(),
+                Some("Implicit User")
+            );
+            assert_eq!(ThemeSettings::get_global(cx).buffer_font_size(cx), px(20.0));
+        });
+
+        cx.dispatch_action(Confirm);
+    }
+
+    #[gpui::test]
+    async fn test_settings_profile_with_default_base(cx: &mut TestAppContext) {
+        let user_settings_json = json!({
+            "buffer_font_size": 10.0,
+            "profiles": {
+                "Clean Slate": {
+                    "base": "default"
+                },
+                "Custom on Defaults": {
+                    "base": "default",
+                    "settings": {
+                        "buffer_font_size": 30.0
+                    }
+                }
+            }
+        });
+        let (workspace, cx) = init_test(user_settings_json, cx).await;
+
+        // User has buffer_font_size: 10, factory default is 15.
+        cx.update(|_, cx| {
+            assert_eq!(ThemeSettings::get_global(cx).buffer_font_size(cx), px(10.0));
+        });
+
+        // "Clean Slate" has base: "default" with no settings overrides,
+        // so we get the factory default (15), not the user's value (10).
+        cx.dispatch_action(settings_profile_selector::Toggle);
+        let picker = active_settings_profile_picker(&workspace, cx);
+        cx.dispatch_action(SelectNext);
+
+        picker.read_with(cx, |picker, cx| {
+            assert_eq!(
+                picker.delegate.selected_profile_name.as_deref(),
+                Some("Clean Slate")
+            );
+            assert_eq!(ThemeSettings::get_global(cx).buffer_font_size(cx), px(15.0));
+        });
+
+        // "Custom on Defaults" has base: "default" with buffer_font_size: 30,
+        // so the profile's override (30) applies on top of the factory default,
+        // not on top of the user's value (10).
+        cx.dispatch_action(SelectNext);
+
+        picker.read_with(cx, |picker, cx| {
+            assert_eq!(
+                picker.delegate.selected_profile_name.as_deref(),
+                Some("Custom on Defaults")
+            );
+            assert_eq!(ThemeSettings::get_global(cx).buffer_font_size(cx), px(30.0));
+        });
+
+        cx.dispatch_action(Confirm);
+
+        cx.update(|_, cx| {
+            assert_eq!(ThemeSettings::get_global(cx).buffer_font_size(cx), px(30.0));
+        });
+    }
+
     #[gpui::test]
     async fn test_settings_profile_selector_is_in_user_configuration_order(
         cx: &mut TestAppContext,
     ) {
         // Must be unique names (HashMap)
-        let profiles_json = json!({
-            "z": {},
-            "e": {},
-            "d": {},
-            " ": {},
-            "r": {},
-            "u": {},
-            "l": {},
-            "3": {},
-            "s": {},
-            "!": {},
+        let user_settings_json = json!({
+            "profiles": {
+                "z": { "settings": {} },
+                "e": { "settings": {} },
+                "d": { "settings": {} },
+                " ": { "settings": {} },
+                "r": { "settings": {} },
+                "u": { "settings": {} },
+                "l": { "settings": {} },
+                "3": { "settings": {} },
+                "s": { "settings": {} },
+                "!": { "settings": {} },
+            }
         });
-        let (workspace, cx) = init_test(profiles_json.clone(), cx).await;
+        let (workspace, cx) = init_test(user_settings_json, cx).await;
 
         cx.dispatch_action(settings_profile_selector::Toggle);
         let picker = active_settings_profile_picker(&workspace, cx);
diff --git a/docs/src/reference/all-settings.md b/docs/src/reference/all-settings.md
index ce80fe78f4734135bd6bba0f3329a651059dbfdf..3c944e0807ff1a6b0cda46c3416ad4e2dbc5a279 100644
--- a/docs/src/reference/all-settings.md
+++ b/docs/src/reference/all-settings.md
@@ -3002,21 +3002,36 @@ If you wish to exclude certain hosts from using the proxy, set the `NO_PROXY` en
 
 ## Profiles
 
-- Description: Configuration profiles that can be applied on top of existing settings
+- Description: Configuration profiles that can be temporarily applied on top of existing settings or Zed's defaults.
 - Setting: `profiles`
 - Default: `{}`
 
 **Options**
 
-Configuration object for defining settings profiles. Example:
+Each profile is an object with the following optional fields:
+
+- `base`: What settings to start from before applying the profile's overrides.
+  - `"user"` (default): Apply on top of your current user settings.
+  - `"default"`: Apply on top of Zed's default settings, ignoring user customizations.
+- `settings`: The settings overrides for this profile.
+
+Examples:
 
 ```json [settings]
 {
   "profiles": {
-    "presentation": {
-      "buffer_font_size": 20,
-      "ui_font_size": 18,
-      "theme": "One Light"
+    "Presentation": {
+      "settings": {
+        "buffer_font_size": 20,
+        "ui_font_size": 18,
+        "theme": "One Light"
+      }
+    },
+    "Clean Slate": {
+      "base": "default",
+      "settings": {
+        "theme": "Ayu Dark"
+      }
     }
   }
 }
@@ -5332,12 +5347,12 @@ For example, to use `Nerd Font` as a fallback, add the following to your setting
 
 ## Settings Profiles
 
-- Description: Configure any number of settings profiles that are temporarily applied on top of your existing user settings when selected from `settings profile selector: toggle`.
+- Description: Configure any number of settings profiles that are temporarily applied when selected from `settings profile selector: toggle`.
 - Setting: `profiles`
 - Default: `{}`
 
 In your `settings.json` file, add the `profiles` object.
-Each key within this object is the name of a settings profile, and each value is an object that can include any of Zed's settings.
+Each key within this object is the name of a settings profile. Each profile has an optional `base` field (`"user"` or `"default"`) and a `settings` object containing any of Zed's settings.
 
 Example:
 
@@ -5345,24 +5360,30 @@ Example:
 {
   "profiles": {
     "Presenting (Dark)": {
-      "agent_buffer_font_size": 18.0,
-      "buffer_font_size": 18.0,
-      "theme": "One Dark",
-      "ui_font_size": 18.0
+      "settings": {
+        "agent_buffer_font_size": 18.0,
+        "buffer_font_size": 18.0,
+        "theme": "One Dark",
+        "ui_font_size": 18.0
+      }
     },
     "Presenting (Light)": {
-      "agent_buffer_font_size": 18.0,
-      "buffer_font_size": 18.0,
-      "theme": "One Light",
-      "ui_font_size": 18.0
+      "settings": {
+        "agent_buffer_font_size": 18.0,
+        "buffer_font_size": 18.0,
+        "theme": "One Light",
+        "ui_font_size": 18.0
+      }
     },
     "Writing": {
-      "agent_buffer_font_size": 15.0,
-      "buffer_font_size": 15.0,
-      "theme": "Catppuccin Frappé - No Italics",
-      "ui_font_size": 15.0,
-      "tab_bar": { "show": false },
-      "toolbar": { "breadcrumbs": false }
+      "settings": {
+        "agent_buffer_font_size": 15.0,
+        "buffer_font_size": 15.0,
+        "theme": "Catppuccin Frappé - No Italics",
+        "ui_font_size": 15.0,
+        "tab_bar": { "show": false },
+        "toolbar": { "breadcrumbs": false }
+      }
     }
   }
 }