diff --git a/crates/editor/src/actions.rs b/crates/editor/src/actions.rs
index 70ec8ea00f..e12bdf7a07 100644
--- a/crates/editor/src/actions.rs
+++ b/crates/editor/src/actions.rs
@@ -410,6 +410,8 @@ actions!(
         ToggleFold,
         /// Toggles recursive folding at the current position.
         ToggleFoldRecursive,
+        /// Toggles all folds in a buffer or all excerpts in multibuffer.
+        ToggleFoldAll,
         /// Formats the entire document.
         Format,
         /// Formats only the selected text.
diff --git a/crates/editor/src/editor.rs b/crates/editor/src/editor.rs
index a25a96cdab..5065564fdb 100644
--- a/crates/editor/src/editor.rs
+++ b/crates/editor/src/editor.rs
@@ -17075,6 +17075,46 @@ impl Editor {
         }
     }
 
+    pub fn toggle_fold_all(
+        &mut self,
+        _: &actions::ToggleFoldAll,
+        window: &mut Window,
+        cx: &mut Context<Self>,
+    ) {
+        if self.buffer.read(cx).is_singleton() {
+            let display_map = self.display_map.update(cx, |map, cx| map.snapshot(cx));
+            let has_folds = display_map
+                .folds_in_range(0..display_map.buffer_snapshot.len())
+                .next()
+                .is_some();
+
+            if has_folds {
+                self.unfold_all(&actions::UnfoldAll, window, cx);
+            } else {
+                self.fold_all(&actions::FoldAll, window, cx);
+            }
+        } else {
+            let buffer_ids = self.buffer.read(cx).excerpt_buffer_ids();
+            let should_unfold = buffer_ids
+                .iter()
+                .any(|buffer_id| self.is_buffer_folded(*buffer_id, cx));
+
+            self.toggle_fold_multiple_buffers = cx.spawn_in(window, async move |editor, cx| {
+                editor
+                    .update_in(cx, |editor, _, cx| {
+                        for buffer_id in buffer_ids {
+                            if should_unfold {
+                                editor.unfold_buffer(buffer_id, cx);
+                            } else {
+                                editor.fold_buffer(buffer_id, cx);
+                            }
+                        }
+                    })
+                    .ok();
+            });
+        }
+    }
+
     fn fold_at_level(
         &mut self,
         fold_at: &FoldAtLevel,
diff --git a/crates/editor/src/element.rs b/crates/editor/src/element.rs
index 8355fa1d66..f9a31cffb1 100644
--- a/crates/editor/src/element.rs
+++ b/crates/editor/src/element.rs
@@ -9,7 +9,7 @@ use crate::{
     LineUp, MAX_LINE_LEN, MINIMAP_FONT_SIZE, MULTI_BUFFER_EXCERPT_HEADER_HEIGHT, OpenExcerpts,
     PageDown, PageUp, PhantomBreakpointIndicator, Point, RowExt, RowRangeExt, SelectPhase,
     SelectedTextHighlight, Selection, SelectionDragState, SoftWrap, StickyHeaderExcerpt, ToPoint,
-    ToggleFold,
+    ToggleFold, ToggleFoldAll,
     code_context_menus::{CodeActionsMenu, MENU_ASIDE_MAX_WIDTH, MENU_ASIDE_MIN_WIDTH, MENU_GAP},
     display_map::{
         Block, BlockContext, BlockStyle, ChunkRendererId, DisplaySnapshot, EditorMargins,
@@ -416,6 +416,7 @@ impl EditorElement {
         register_action(editor, window, Editor::fold_recursive);
         register_action(editor, window, Editor::toggle_fold);
         register_action(editor, window, Editor::toggle_fold_recursive);
+        register_action(editor, window, Editor::toggle_fold_all);
         register_action(editor, window, Editor::unfold_lines);
         register_action(editor, window, Editor::unfold_recursive);
         register_action(editor, window, Editor::unfold_all);
@@ -3620,24 +3621,37 @@ impl EditorElement {
                                         .tooltip({
                                             let focus_handle = focus_handle.clone();
                                             move |window, cx| {
-                                                Tooltip::for_action_in(
+                                                Tooltip::with_meta_in(
                                                     "Toggle Excerpt Fold",
-                                                    &ToggleFold,
+                                                    Some(&ToggleFold),
+                                                    "Alt+click to toggle all",
                                                     &focus_handle,
                                                     window,
                                                     cx,
                                                 )
                                             }
                                         })
-                                        .on_click(move |_, _, cx| {
-                                            if is_folded {
+                                        .on_click(move |event, window, cx| {
+                                            if event.modifiers().alt {
+                                                // Alt+click toggles all buffers
                                                 editor.update(cx, |editor, cx| {
-                                                    editor.unfold_buffer(buffer_id, cx);
+                                                    editor.toggle_fold_all(
+                                                        &ToggleFoldAll,
+                                                        window,
+                                                        cx,
+                                                    );
                                                 });
                                             } else {
-                                                editor.update(cx, |editor, cx| {
-                                                    editor.fold_buffer(buffer_id, cx);
-                                                });
+                                                // Regular click toggles single buffer
+                                                if is_folded {
+                                                    editor.update(cx, |editor, cx| {
+                                                        editor.unfold_buffer(buffer_id, cx);
+                                                    });
+                                                } else {
+                                                    editor.update(cx, |editor, cx| {
+                                                        editor.fold_buffer(buffer_id, cx);
+                                                    });
+                                                }
                                             }
                                         }),
                                 ),