diff --git a/src/components/select/Select.js b/src/components/select/Select.js
index 4fc820f0bc..19fe7539a5 100644
--- a/src/components/select/Select.js
+++ b/src/components/select/Select.js
@@ -254,6 +254,10 @@ export default class SelectComponent extends ListComponent {
     return super.shouldLoad;
   }
 
+  get selectData() {
+    return this.component.selectData || super.selectData;
+  }
+
   isEntireObjectDisplay() {
     return this.component.dataSrc === 'resource' && this.valueProperty === 'data';
   }
diff --git a/src/components/select/Select.unit.js b/src/components/select/Select.unit.js
index 59fdbefad8..85fc394107 100644
--- a/src/components/select/Select.unit.js
+++ b/src/components/select/Select.unit.js
@@ -8,6 +8,9 @@ import { expect } from 'chai';
 import { Formio } from './../../Formio';
 import _ from 'lodash';
 
+global.requestAnimationFrame = (cb) => cb();
+global.cancelAnimationFrame = () => { };
+
 import {
   comp1,
   comp2,
@@ -1212,3 +1215,122 @@ describe('Select Component with Entire Object Value Property', () => {
     });
   });
 });
+
+describe('Select Component selectData property', () => {
+  const originalMakeRequest = Formio.makeRequest;
+
+  before((done) => {
+    Formio.makeRequest = (formio, type, url) => {
+      return new Promise(resolve => {
+        const values = [{
+          label: 'Label 1',
+          value: 'value1',
+        }, {
+          label: 'Label 2',
+          value: 'value2',
+        }];
+
+        resolve(values);
+      });
+    };
+    Harness.builderBefore(done);
+  });
+  afterEach(() => Harness.getBuilder().setForm({ display: 'form', components: [] }));
+
+  it('Should calculate selectData property for url dataSource', (done) => {
+    const builder = Harness.getBuilder();
+    builder.setForm({}).then(() => {
+      Harness.buildComponent('select');
+
+      setTimeout(() => {
+        const dataSrc = builder.editForm.getComponent('dataSrc');
+        dataSrc.setValue('url');
+        const url = builder.editForm.getComponent(['data.url']);
+        const valueProperty = builder.editForm.getComponent('valueProperty');
+        url.setValue('htts//fakeurl.com');
+        valueProperty.setValue('value');
+
+        setTimeout(() => {
+          const defaultValue = builder.editForm.getComponent('defaultValue');
+          defaultValue.setValue('value1');
+          defaultValue.updateItems(null, true);
+
+          setTimeout(() => {
+            assert.deepEqual(builder.editForm.data.selectData, {
+              label: 'Label 1',
+            });
+            Harness.saveComponent();
+            setTimeout(() => {
+              done();
+            }, 150);
+          }, 250);
+        }, 250);
+      }, 150);
+    }).catch(done);
+  });
+
+  it('Should calculate selectData property for resource dataSource', (done) => {
+    const builder = Harness.getBuilder();
+    builder.setForm({}).then(() => {
+      Harness.buildComponent('select');
+
+      setTimeout(() => {
+        const dataSrc = builder.editForm.getComponent('dataSrc');
+        dataSrc.setValue('resource');
+        const resource = builder.editForm.getComponent(['data.resource']);
+        const valueProperty = builder.editForm.getComponent('valueProperty');
+        resource.setValue('12345678');
+        valueProperty.setValue('value');
+
+        setTimeout(() => {
+          const defaultValue = builder.editForm.getComponent('defaultValue');
+          defaultValue.setValue('value1');
+          defaultValue.updateItems(null, true);
+
+          setTimeout(() => {
+            assert.deepEqual(builder.editForm.data.selectData, {
+              label: 'Label 1',
+            });
+            Harness.saveComponent();
+            setTimeout(() => {
+              done();
+            }, 150);
+          }, 250);
+        }, 250);
+      }, 150);
+    }).catch(done);
+  });
+
+  it('Should not calculate selectData property without valueProperty', (done) => {
+    const builder = Harness.getBuilder();
+    builder.setForm({}).then(() => {
+      Harness.buildComponent('select');
+
+      setTimeout(() => {
+        const dataSrc = builder.editForm.getComponent('dataSrc');
+        dataSrc.setValue('url');
+        const url = builder.editForm.getComponent(['data.url']);
+        url.setValue('https://fakeurl.com');
+
+        setTimeout(() => {
+          const defaultValue = builder.editForm.getComponent('defaultValue');
+          defaultValue.setValue('value1');
+          defaultValue.updateItems(null, true);
+
+          setTimeout(() => {
+            assert.equal(builder.editForm.data.selectData, undefined);
+            Harness.saveComponent();
+            setTimeout(() => {
+              done();
+            }, 150);
+          }, 250);
+        }, 250);
+      }, 150);
+    }).catch(done);
+  });
+
+  after((done) => {
+    Formio.makeRequest = originalMakeRequest;
+    Harness.builderAfter(done);
+  });
+});
diff --git a/src/components/select/editForm/Select.edit.data.js b/src/components/select/editForm/Select.edit.data.js
index df6ad3e1df..e860bf6d46 100644
--- a/src/components/select/editForm/Select.edit.data.js
+++ b/src/components/select/editForm/Select.edit.data.js
@@ -1,5 +1,33 @@
+import _ from 'lodash';
 import { eachComponent } from '../../../utils/utils';
 
+const calculateSelectData = (context) => {
+  const { instance, data } = context;
+  const rawDefaultValue = instance.downloadedResources.find(resource => _.get(resource, data.valueProperty) === instance.getValue());
+  const options = { data: {}, noeval: true };
+  instance.interpolate(data.template, {
+    item: rawDefaultValue,
+  }, options);
+  return options.data.item;
+};
+
+const setSelectData = (context) => {
+  // Wait before downloadedResources will be set
+  setTimeout(() => {
+    const { instance, data } = context;
+    const selectDataComponent = instance?.root.getComponent('selectData');
+    // nothing can set if don't have downloaded resources
+    if (!selectDataComponent || !instance.getValue() || !instance.downloadedResources?.length) {
+      return;
+    }
+    // if valueProperty is not provided, we have entire object
+    const shouldCalculateUrlData = data.dataSrc === 'url' && data.data.url && data.valueProperty;
+    const shouldCalculateResourceData = data.dataSrc === 'resource' && data.data.resource && data.valueProperty;
+    const newValue = shouldCalculateUrlData || shouldCalculateResourceData ? calculateSelectData(context) : undefined;
+    selectDataComponent.setValue(newValue);
+  }, 0);
+};
+
 export default [
   {
     key: 'dataSrc',
@@ -625,5 +653,37 @@ export default [
     key: 'useExactSearch',
     label: 'Use exact search',
     tooltip: 'Disables search algorithm threshold.',
-  }
+  },
+  {
+    key: 'defaultValue',
+    onSetItems(component) {
+      setSelectData(component.evalContext());
+    },
+    onChange(context) {
+      if (context && context.flags && context.flags.modified) {
+        setSelectData(context);
+      }
+    },
+  },
+  {
+    key: 'selectData',
+    conditional: {
+      json: { 'and': [
+        { '!==': [{ var: 'data.valueProperty' }, null] },
+        { '!==': [{ var: 'data.valueProperty' }, ''] },
+      ] },
+    },
+  },
+  {
+    key: 'template',
+    onChange(context) {
+      if (context && context.flags && context.flags.modified) {
+        const defaultValueComponent = context.instance.root.getComponent('defaultValue');
+        if (!defaultValueComponent) {
+          return;
+        }
+        setSelectData(defaultValueComponent.evalContext());
+      }
+    },
+  },
 ];