diff --git a/editor/editor_node.cpp b/editor/editor_node.cpp
index c0eb3efd44..bd7dc78ad7 100644
--- a/editor/editor_node.cpp
+++ b/editor/editor_node.cpp
@@ -3894,6 +3894,12 @@ void EditorNode::_menu_option_confirm(int p_option, bool p_confirmed) {
 		case EDITOR_TAKE_SCREENSHOT: {
 			screenshot_timer->start();
 		} break;
+		case EDITOR_HDR_SCREENSHOT: {
+			bool ischecked = settings_menu->is_item_checked(settings_menu->get_item_index(EDITOR_HDR_SCREENSHOT));
+
+			settings_menu->set_item_checked(settings_menu->get_item_index(EDITOR_HDR_SCREENSHOT), !ischecked);
+			EditorSettings::get_singleton()->set_project_metadata("screenshot", "hdr_screenshot", !ischecked);
+		} break;
 		case SETTINGS_PICK_MAIN_SCENE: {
 			file->set_file_mode(EditorFileDialog::FILE_MODE_OPEN_FILE);
 			List<String> extensions;
@@ -3993,15 +3999,20 @@ void EditorNode::_request_screenshot() {
 }
 
 void EditorNode::_screenshot(bool p_use_utc) {
-	String name = "editor_screenshot_" + Time::get_singleton()->get_datetime_string_from_system(p_use_utc).remove_char(':') + ".png";
+	bool hdr_screenshot = EditorSettings::get_singleton()->get_project_metadata("screenshot", "hdr_screenshot", true);
+	bool hdr = DisplayServer::get_singleton()->window_is_hdr_output_enabled(DisplayServerEnums::MAIN_WINDOW_ID);
+	String name = "editor_screenshot_" + Time::get_singleton()->get_datetime_string_from_system(p_use_utc).remove_char(':') + (hdr && hdr_screenshot ? ".exr" : ".png");
 	String path = String("user://") + name;
 
-	if (!EditorRun::request_screenshot(callable_mp(this, &EditorNode::_save_screenshot_with_embedded_process).bind(path))) {
+	if (!EditorRun::request_screenshot(callable_mp(this, &EditorNode::_save_screenshot_with_embedded_process).bind(path), hdr_screenshot)) {
 		_save_screenshot(path);
 	}
 }
 
 void EditorNode::_save_screenshot_with_embedded_process(int64_t p_w, int64_t p_h, const String &p_emb_path, const Rect2i &p_rect, const String &p_path) {
+	bool hdr_screenshot = EditorSettings::get_singleton()->get_project_metadata("screenshot", "hdr_screenshot", true);
+	bool hdr = DisplayServer::get_singleton()->window_is_hdr_output_enabled(DisplayServerEnums::MAIN_WINDOW_ID);
+
 	Control *main_screen_control = editor_main_screen->get_control();
 	ERR_FAIL_NULL_MSG(main_screen_control, "Cannot get the editor main screen control.");
 	Viewport *viewport = main_screen_control->get_viewport();
@@ -4010,15 +4021,36 @@ void EditorNode::_save_screenshot_with_embedded_process(int64_t p_w, int64_t p_h
 	ERR_FAIL_COND_MSG(texture.is_null(), "Cannot get a viewport texture from the editor main screen.");
 	Ref<Image> img = texture->get_image();
 	ERR_FAIL_COND_MSG(img.is_null(), "Cannot get an image from a viewport texture of the editor main screen.");
-	img->convert(Image::FORMAT_RGBA8);
+	if (hdr && hdr_screenshot) {
+		img->convert(Image::FORMAT_RGBAH);
+	} else {
+		Image::Format fmt = img->get_format();
+		img->convert(Image::FORMAT_RGBA8);
+		if (fmt == Image::FORMAT_RGBAH) {
+			img->linear_to_srgb();
+		}
+	}
 	ERR_FAIL_COND(p_emb_path.is_empty());
 	Ref<Image> overlay = Image::load_from_file(p_emb_path);
 	DirAccess::remove_absolute(p_emb_path);
 	ERR_FAIL_COND_MSG(overlay.is_null(), "Cannot get an image from a embedded process.");
-	overlay->convert(Image::FORMAT_RGBA8);
+	if (hdr && hdr_screenshot) {
+		overlay->convert(Image::FORMAT_RGBAH);
+	} else {
+		Image::Format fmt = overlay->get_format();
+		overlay->convert(Image::FORMAT_RGBA8);
+		if (fmt == Image::FORMAT_RGBAH) {
+			overlay->linear_to_srgb();
+		}
+	}
 	overlay->resize(p_rect.size.x, p_rect.size.y);
 	img->blend_rect(overlay, Rect2i(0, 0, p_w, p_h), p_rect.position);
-	Error error = img->save_png(p_path);
+	Error error = OK;
+	if (hdr) {
+		error = img->save_exr(p_path, false, true, DisplayServer::get_singleton()->window_get_output_max_linear_value(DisplayServerEnums::MAIN_WINDOW_ID));
+	} else {
+		error = img->save_png(p_path);
+	}
 	ERR_FAIL_COND_MSG(error != OK, "Cannot save screenshot to file '" + p_path + "'.");
 
 	if (EDITOR_GET("interface/editor/behavior/automatically_open_screenshots")) {
@@ -4034,8 +4066,24 @@ void EditorNode::_save_screenshot(const String &p_path) {
 	Ref<ViewportTexture> texture = viewport->get_texture();
 	ERR_FAIL_COND_MSG(texture.is_null(), "Cannot get a viewport texture from the editor main screen.");
 	Ref<Image> img = texture->get_image();
+	bool hdr = DisplayServer::get_singleton()->window_is_hdr_output_enabled(DisplayServerEnums::MAIN_WINDOW_ID);
+	bool hdr_screenshot = EditorSettings::get_singleton()->get_project_metadata("screenshot", "hdr_screenshot", true);
+	if (hdr && hdr_screenshot) {
+		img->convert(Image::FORMAT_RGBAH);
+	} else {
+		Image::Format fmt = img->get_format();
+		img->convert(Image::FORMAT_RGBA8);
+		if (fmt == Image::FORMAT_RGBAH) {
+			img->linear_to_srgb();
+		}
+	}
 	ERR_FAIL_COND_MSG(img.is_null(), "Cannot get an image from a viewport texture of the editor main screen.");
-	Error error = img->save_png(p_path);
+	Error error = OK;
+	if (hdr) {
+		error = img->save_exr(p_path, false, true, DisplayServer::get_singleton()->window_get_output_max_linear_value(DisplayServerEnums::MAIN_WINDOW_ID));
+	} else {
+		error = img->save_png(p_path);
+	}
 	ERR_FAIL_COND_MSG(error != OK, "Cannot save screenshot to file '" + p_path + "'.");
 
 	if (EDITOR_GET("interface/editor/behavior/automatically_open_screenshots")) {
@@ -8115,6 +8163,11 @@ void EditorNode::_build_settings_menu() {
 	settings_menu->add_shortcut(ED_GET_SHORTCUT("editor/take_screenshot"), EDITOR_TAKE_SCREENSHOT);
 	settings_menu->set_item_tooltip(-1, TTRC("Screenshots are stored in the user data folder (\"user://\")."));
 
+	settings_menu->add_check_shortcut(ED_SHORTCUT("editor/hdr_screenshot", TTRC("Save HDR screenshots")), EDITOR_HDR_SCREENSHOT);
+	settings_menu->set_item_tooltip(-1, TTRC("If selected, screenshots are saved in EXR format, otherwise screenshots are converted to SDR and saved in PNG format."));
+	settings_menu->set_item_checked(-1, EditorSettings::get_singleton()->get_project_metadata("screenshot", "hdr_screenshot", true));
+	settings_menu->add_separator();
+
 	settings_menu->add_shortcut(ED_GET_SHORTCUT("editor/fullscreen_mode"), EDITOR_TOGGLE_FULLSCREEN);
 	settings_menu->add_separator();
 
diff --git a/editor/editor_node.h b/editor/editor_node.h
index 337c7484a5..d6556da7e7 100644
--- a/editor/editor_node.h
+++ b/editor/editor_node.h
@@ -187,6 +187,7 @@ public:
 		EDITOR_OPEN_SETTINGS,
 		EDITOR_COMMAND_PALETTE,
 		EDITOR_TAKE_SCREENSHOT,
+		EDITOR_HDR_SCREENSHOT,
 		EDITOR_TOGGLE_FULLSCREEN,
 		EDITOR_OPEN_DATA_FOLDER,
 		EDITOR_OPEN_CONFIG_FOLDER,
diff --git a/editor/run/editor_run.cpp b/editor/run/editor_run.cpp
index 83998765b4..d7dbb3a328 100644
--- a/editor/run/editor_run.cpp
+++ b/editor/run/editor_run.cpp
@@ -195,9 +195,9 @@ Error EditorRun::run(const String &p_scene, const String &p_write_movie, const V
 	return OK;
 }
 
-bool EditorRun::request_screenshot(const Callable &p_callback) {
+bool EditorRun::request_screenshot(const Callable &p_callback, bool p_hdr) {
 	if (instance_rq_screenshot_callback) {
-		return instance_rq_screenshot_callback(p_callback);
+		return instance_rq_screenshot_callback(p_callback, p_hdr);
 	} else {
 		return false;
 	}
diff --git a/editor/run/editor_run.h b/editor/run/editor_run.h
index 7c6b7909f9..f501062742 100644
--- a/editor/run/editor_run.h
+++ b/editor/run/editor_run.h
@@ -39,7 +39,7 @@
 #include <climits> // INT_MAX
 
 typedef void (*EditorRunInstanceStarting)(int p_index, List<String> &r_arguments);
-typedef bool (*EditorRunInstanceRequestScreenshot)(const Callable &p_callback);
+typedef bool (*EditorRunInstanceRequestScreenshot)(const Callable &p_callback, bool p_hdr);
 
 class EditorRun {
 public:
@@ -79,7 +79,7 @@ public:
 	int get_child_process_count() const { return pids.size(); }
 	ProcessID get_current_process() const;
 
-	static bool request_screenshot(const Callable &p_callback);
+	static bool request_screenshot(const Callable &p_callback, bool p_hdr);
 
 	static WindowPlacement get_window_placement();
 
diff --git a/editor/run/game_view_plugin.cpp b/editor/run/game_view_plugin.cpp
index 97cd210e83..f9eada9fd5 100644
--- a/editor/run/game_view_plugin.cpp
+++ b/editor/run/game_view_plugin.cpp
@@ -361,7 +361,7 @@ void GameViewDebugger::_bind_methods() {
 	ADD_SIGNAL(MethodInfo("hdr_state_received", PropertyInfo(Variant::ARRAY, "hdr_state")));
 }
 
-bool GameViewDebugger::add_screenshot_callback(const Callable &p_callaback, const Rect2i &p_rect) {
+bool GameViewDebugger::add_screenshot_callback(const Callable &p_callaback, const Rect2i &p_rect, bool p_hdr) {
 	bool found = false;
 	for (Ref<EditorDebuggerSession> &I : sessions) {
 		if (I->is_active()) {
@@ -372,6 +372,7 @@ bool GameViewDebugger::add_screenshot_callback(const Callable &p_callaback, cons
 
 			Array arr;
 			arr.append(scr_rq_id);
+			arr.append(p_hdr);
 			I->send_message("scene:rq_screenshot", arr);
 			scr_rq_id++;
 			found = true;
@@ -487,12 +488,12 @@ void GameView::_instance_starting(int p_idx, List<String> &r_arguments) {
 	_update_arguments_for_instance(p_idx, r_arguments);
 }
 
-bool GameView::_instance_rq_screenshot_static(const Callable &p_callback) {
+bool GameView::_instance_rq_screenshot_static(const Callable &p_callback, bool p_hdr) {
 	ERR_FAIL_NULL_V(singleton, false);
-	return singleton->_instance_rq_screenshot(p_callback);
+	return singleton->_instance_rq_screenshot(p_callback, p_hdr);
 }
 
-bool GameView::_instance_rq_screenshot(const Callable &p_callback) {
+bool GameView::_instance_rq_screenshot(const Callable &p_callback, bool p_hdr) {
 	if (debugger.is_null() || window_wrapper->get_window_enabled() || !embedded_process || !embedded_process->is_embedding_completed()) {
 		return false;
 	}
@@ -501,7 +502,7 @@ bool GameView::_instance_rq_screenshot(const Callable &p_callback) {
 #ifndef MACOS_ENABLED
 	r.position -= embedded_process->get_window()->get_position();
 #endif
-	return debugger->add_screenshot_callback(p_callback, r);
+	return debugger->add_screenshot_callback(p_callback, r, p_hdr);
 }
 
 void GameView::_show_update_window_wrapper() {
diff --git a/editor/run/game_view_plugin.h b/editor/run/game_view_plugin.h
index ddcc21dd9d..83b4deebc6 100644
--- a/editor/run/game_view_plugin.h
+++ b/editor/run/game_view_plugin.h
@@ -80,7 +80,7 @@ public:
 	virtual bool capture(const String &p_message, const Array &p_data, int p_session) override;
 	virtual bool has_capture(const String &p_capture) const override;
 
-	bool add_screenshot_callback(const Callable &p_callaback, const Rect2i &p_rect);
+	bool add_screenshot_callback(const Callable &p_callaback, const Rect2i &p_rect, bool p_hdr);
 
 	void window_request_size();
 	void hdr_output_request_state();
@@ -237,8 +237,8 @@ class GameView : public VBoxContainer {
 	void _play_pressed();
 	static void _instance_starting_static(int p_idx, List<String> &r_arguments);
 	void _instance_starting(int p_idx, List<String> &r_arguments);
-	static bool _instance_rq_screenshot_static(const Callable &p_callback);
-	bool _instance_rq_screenshot(const Callable &p_callback);
+	static bool _instance_rq_screenshot_static(const Callable &p_callback, bool p_hdr);
+	bool _instance_rq_screenshot(const Callable &p_callback, bool p_hdr);
 	void _stop_pressed();
 	void _embedding_completed();
 	void _embedding_failed();
diff --git a/scene/debugger/scene_debugger.cpp b/scene/debugger/scene_debugger.cpp
index 9adf9b8943..cbbe16cb0d 100644
--- a/scene/debugger/scene_debugger.cpp
+++ b/scene/debugger/scene_debugger.cpp
@@ -527,7 +527,7 @@ Error SceneDebugger::_msg_transform_camera_3d(const Array &p_args) {
 // region Embedded process screenshot.
 
 Error SceneDebugger::_msg_rq_screenshot(const Array &p_args) {
-	ERR_FAIL_COND_V(p_args.is_empty(), ERR_INVALID_DATA);
+	ERR_FAIL_COND_V(p_args.size() < 2, ERR_INVALID_DATA);
 
 	Viewport *viewport = SceneTree::get_singleton()->get_root();
 	ERR_FAIL_NULL_V_MSG(viewport, ERR_UNCONFIGURED, "Cannot get a viewport from the main screen.");
@@ -537,6 +537,8 @@ Error SceneDebugger::_msg_rq_screenshot(const Array &p_args) {
 	ERR_FAIL_COND_V_MSG(img.is_null(), ERR_UNCONFIGURED, "Cannot get an image from a viewport texture of the main screen.");
 	img->clear_mipmaps();
 
+	bool hdr = DisplayServer::get_singleton()->window_is_hdr_output_enabled(DisplayServerEnums::MAIN_WINDOW_ID);
+	bool hdr_screenshot = p_args[1];
 	const String TEMP_DIR = OS::get_singleton()->get_temp_path();
 	uint32_t suffix_i = 0;
 	String path;
@@ -544,13 +546,17 @@ Error SceneDebugger::_msg_rq_screenshot(const Array &p_args) {
 		String datetime = Time::get_singleton()->get_datetime_string_from_system().remove_chars("-T:");
 		datetime += itos(Time::get_singleton()->get_ticks_usec());
 		String suffix = datetime + (suffix_i > 0 ? itos(suffix_i) : "");
-		path = TEMP_DIR.path_join("scr-" + suffix + ".png");
+		path = TEMP_DIR.path_join("scr-" + suffix + (hdr && hdr_screenshot ? ".exr" : ".png"));
 		if (!DirAccess::exists(path)) {
 			break;
 		}
 		suffix_i += 1;
 	}
-	img->save_png(path);
+	if (hdr && hdr_screenshot) {
+		img->save_exr(path, false, true, DisplayServer::get_singleton()->window_get_output_max_linear_value(DisplayServerEnums::MAIN_WINDOW_ID));
+	} else {
+		img->save_png(path);
+	}
 
 	Array arr;
 	arr.append(p_args[0]);