diff --git a/packages/editor/src/components/post-url/panel.js b/packages/editor/src/components/post-url/panel.js
index 15804db6f30723..aca36566c04727 100644
--- a/packages/editor/src/components/post-url/panel.js
+++ b/packages/editor/src/components/post-url/panel.js
@@ -10,6 +10,7 @@ import {
 } from '@wordpress/components';
 import { __, sprintf } from '@wordpress/i18n';
 import { safeDecodeURIComponent } from '@wordpress/url';
+import { store as coreStore } from '@wordpress/core-data';
 
 /**
  * Internal dependencies
@@ -43,7 +44,7 @@ export default function PostURLPanel() {
 
 	return (
 		<PostURLCheck>
-			<PostPanelRow label={ __( 'Permalink' ) } ref={ setPopoverAnchor }>
+			<PostPanelRow label={ __( 'Link' ) } ref={ setPopoverAnchor }>
 				<Dropdown
 					popoverProps={ popoverProps }
 					className="editor-post-url__panel-dropdown"
@@ -62,10 +63,19 @@ export default function PostURLPanel() {
 }
 
 function PostURLToggle( { isOpen, onClick } ) {
-	const { slug, postLink } = useSelect( ( select ) => {
-		const { getCurrentPost } = select( editorStore );
+	const { slug, isFrontPage, postLink } = useSelect( ( select ) => {
+		const { getCurrentPostId, getCurrentPost } = select( editorStore );
+		const { getEditedEntityRecord, canUser } = select( coreStore );
+		const siteSettings = canUser( 'read', {
+			kind: 'root',
+			name: 'site',
+		} )
+			? getEditedEntityRecord( 'root', 'site' )
+			: undefined;
+		const _id = getCurrentPostId();
 		return {
 			slug: select( editorStore ).getEditedPostSlug(),
+			isFrontPage: siteSettings?.page_on_front === _id,
 			postLink: getCurrentPost()?.link,
 		};
 	}, [] );
@@ -80,7 +90,9 @@ function PostURLToggle( { isOpen, onClick } ) {
 			aria-label={ sprintf( __( 'Change link: %s' ), decodedSlug ) }
 			onClick={ onClick }
 		>
-			<Truncate numberOfLines={ 1 }>{ postLink }</Truncate>
+			<Truncate numberOfLines={ 1 }>
+				{ isFrontPage ? postLink : `/${ decodedSlug }` }
+			</Truncate>
 		</Button>
 	);
 }