diff --git a/packages/block-library/src/social-links/edit.js b/packages/block-library/src/social-links/edit.js
index 068b34a3a70a4e..af39219af25a1a 100644
--- a/packages/block-library/src/social-links/edit.js
+++ b/packages/block-library/src/social-links/edit.js
@@ -22,9 +22,10 @@ import {
 import {
 	MenuGroup,
 	MenuItem,
-	PanelBody,
 	ToggleControl,
 	ToolbarDropdownMenu,
+	__experimentalToolsPanel as ToolsPanel,
+	__experimentalToolsPanelItem as ToolsPanelItem,
 } from '@wordpress/components';
 import { __ } from '@wordpress/i18n';
 import { check } from '@wordpress/icons';
@@ -198,24 +199,52 @@ export function SocialLinksEdit( props ) {
 				</ToolbarDropdownMenu>
 			</BlockControls>
 			<InspectorControls>
-				<PanelBody title={ __( 'Settings' ) }>
-					<ToggleControl
-						__nextHasNoMarginBottom
+				<ToolsPanel
+					label={ __( 'Settings' ) }
+					resetAll={ () => {
+						setAttributes( {
+							openInNewTab: false,
+							showLabels: false,
+						} );
+					} }
+				>
+					<ToolsPanelItem
+						isShownByDefault
 						label={ __( 'Open links in new tab' ) }
-						checked={ openInNewTab }
-						onChange={ () =>
-							setAttributes( { openInNewTab: ! openInNewTab } )
+						hasValue={ () => !! openInNewTab }
+						onDeselect={ () =>
+							setAttributes( { openInNewTab: false } )
 						}
-					/>
-					<ToggleControl
-						__nextHasNoMarginBottom
+					>
+						<ToggleControl
+							__nextHasNoMarginBottom
+							label={ __( 'Open links in new tab' ) }
+							checked={ openInNewTab }
+							onChange={ () =>
+								setAttributes( {
+									openInNewTab: ! openInNewTab,
+								} )
+							}
+						/>
+					</ToolsPanelItem>
+					<ToolsPanelItem
+						isShownByDefault
 						label={ __( 'Show text' ) }
-						checked={ showLabels }
-						onChange={ () =>
-							setAttributes( { showLabels: ! showLabels } )
+						hasValue={ () => !! showLabels }
+						onDeselect={ () =>
+							setAttributes( { showLabels: false } )
 						}
-					/>
-				</PanelBody>
+					>
+						<ToggleControl
+							__nextHasNoMarginBottom
+							label={ __( 'Show text' ) }
+							checked={ showLabels }
+							onChange={ () =>
+								setAttributes( { showLabels: ! showLabels } )
+							}
+						/>
+					</ToolsPanelItem>
+				</ToolsPanel>
 			</InspectorControls>
 			{ colorGradientSettings.hasColorsOrGradients && (
 				<InspectorControls group="color">