diff --git a/packages/block-editor/src/store/selectors.js b/packages/block-editor/src/store/selectors.js
index 4ce85afb8cfd1..02378e9e9bce9 100644
--- a/packages/block-editor/src/store/selectors.js
+++ b/packages/block-editor/src/store/selectors.js
@@ -2,6 +2,7 @@
  * WordPress dependencies
  */
 import {
+	getBlockDefaultClassName,
 	getBlockType,
 	getBlockTypes,
 	getBlockVariations,
@@ -1862,6 +1863,14 @@ const canIncludeBlockTypeInInserter = ( state, blockType, rootClientId ) => {
 const getItemFromVariation = ( state, item ) => ( variation ) => {
 	const variationId = `${ item.id }/${ variation.name }`;
 	const { time, count = 0 } = getInsertUsage( state, variationId ) || {};
+	const supportsAlias = variation?.supports?.alias ?? false;
+	const initialAttributes = {
+		...item.initialAttributes,
+		...variation.attributes,
+		...( supportsAlias && {
+			className: getBlockDefaultClassName( variation.name ),
+		} ),
+	};
 	return {
 		...item,
 		id: variationId,
@@ -1874,8 +1883,13 @@ const getItemFromVariation = ( state, item ) => ( variation ) => {
 			? variation.example
 			: item.example,
 		initialAttributes: {
-			...item.initialAttributes,
-			...variation.attributes,
+			...initialAttributes,
+			metadata: {
+				...initialAttributes.metadata,
+				// If the variation supports alias, set the alias attribute to the variation name.
+				// This is needed for convertAliasBlockNameAndAttributes to convert it to/from the alias/canonical block name.
+				...( supportsAlias && { alias: variation.name } ),
+			},
 		},
 		innerBlocks: variation.innerBlocks,
 		keywords: variation.keywords || item.keywords,
diff --git a/packages/blocks/src/api/parser/convert-alias-block.js b/packages/blocks/src/api/parser/convert-alias-block.js
new file mode 100644
index 0000000000000..0f58649842da8
--- /dev/null
+++ b/packages/blocks/src/api/parser/convert-alias-block.js
@@ -0,0 +1,21 @@
+/**
+ * Convert alias blocks to their canonical form. This function is used
+ * both in the parser level for previous content and to convert such blocks
+ * used in Custom Post Types templates.
+ *
+ * @param {string} name       The block's name
+ * @param {Object} attributes The block's attributes
+ *
+ * @return {[string, Object]} The block's name and attributes, changed accordingly if a match was found
+ */
+export function convertAliasBlockNameAndAttributes( name, attributes ) {
+	const canonicalBlockName = attributes.metadata?.alias;
+	let blockName = name;
+	const newAttributes = { ...attributes };
+	if ( canonicalBlockName ) {
+		blockName = canonicalBlockName;
+		newAttributes.metadata.alias = name;
+	}
+
+	return [ blockName, newAttributes ];
+}
diff --git a/packages/blocks/src/api/parser/index.js b/packages/blocks/src/api/parser/index.js
index f8ff0c68964dc..d5b1896e8b7ea 100644
--- a/packages/blocks/src/api/parser/index.js
+++ b/packages/blocks/src/api/parser/index.js
@@ -16,6 +16,7 @@ import { getSaveContent } from '../serializer';
 import { validateBlock } from '../validation';
 import { createBlock } from '../factory';
 import { convertLegacyBlockNameAndAttributes } from './convert-legacy-block';
+import { convertAliasBlockNameAndAttributes } from './convert-alias-block';
 import { serializeRawBlock } from './serialize-raw-block';
 import { getBlockAttributes } from './get-block-attributes';
 import { applyBlockDeprecatedVersions } from './apply-block-deprecated-versions';
@@ -78,6 +79,31 @@ function convertLegacyBlocks( rawBlock ) {
 	};
 }
 
+/**
+ * Convert alias blocks to their canonical form. This function is used
+ * both in the parser level for previous content and to convert such blocks
+ * used in Custom Post Types templates.
+ *
+ * We are swapping the alias value with the block name depending on whether we are serializing or parsing.
+ * This is because the alias is used to serialize the block name, but when parsing, we need to convert the alias to the block name.
+ *
+ * @param {WPRawBlock} rawBlock
+ *
+ * @return {WPRawBlock} The block's name and attributes, changed accordingly if a match was found
+ */
+function convertAliasBlocks( rawBlock ) {
+	const [ correctName, correctedAttributes ] =
+		convertAliasBlockNameAndAttributes(
+			rawBlock.blockName,
+			rawBlock.attrs
+		);
+	return {
+		...rawBlock,
+		blockName: correctName,
+		attrs: correctedAttributes,
+	};
+}
+
 /**
  * Normalize the raw block by applying the fallback block name if none given,
  * sanitize the parsed HTML...
@@ -201,6 +227,9 @@ export function parseRawBlock( rawBlock, options ) {
 	// we added this function to properly parse the old content.
 	normalizedBlock = convertLegacyBlocks( normalizedBlock );
 
+	// Convert alias blocks to their canonical form.
+	normalizedBlock = convertAliasBlocks( normalizedBlock );
+
 	// Try finding the type for known block name.
 	let blockType = getBlockType( normalizedBlock.blockName );
 
diff --git a/packages/blocks/src/api/serializer.js b/packages/blocks/src/api/serializer.js
index 609e62fc7e84b..c2751f79e83e7 100644
--- a/packages/blocks/src/api/serializer.js
+++ b/packages/blocks/src/api/serializer.js
@@ -21,6 +21,7 @@ import {
 } from './registration';
 import { serializeRawBlock } from './parser/serialize-raw-block';
 import { isUnmodifiedDefaultBlock, normalizeBlockType } from './utils';
+import { convertAliasBlockNameAndAttributes } from './parser/convert-alias-block';
 
 /** @typedef {import('./parser').WPBlock} WPBlock */
 
@@ -322,15 +323,18 @@ export function getCommentDelimitedContent(
 	attributes,
 	content
 ) {
+	const [ correctBlockName, correctedAttributes ] =
+		convertAliasBlockNameAndAttributes( rawBlockName, attributes );
+
 	const serializedAttributes =
-		attributes && Object.entries( attributes ).length
-			? serializeAttributes( attributes ) + ' '
+		correctedAttributes && Object.entries( correctedAttributes ).length
+			? serializeAttributes( correctedAttributes ) + ' '
 			: '';
 
 	// Strip core blocks of their namespace prefix.
-	const blockName = rawBlockName?.startsWith( 'core/' )
-		? rawBlockName.slice( 5 )
-		: rawBlockName;
+	const blockName = correctBlockName?.startsWith( 'core/' )
+		? correctBlockName.slice( 5 )
+		: correctBlockName;
 
 	// @todo make the `wp:` prefix potentially configurable.