diff --git a/erpnext/crm/doctype/prospect/test_prospect.py b/erpnext/crm/doctype/prospect/test_prospect.py
index c3930ee6c93..286b91e2086 100644
--- a/erpnext/crm/doctype/prospect/test_prospect.py
+++ b/erpnext/crm/doctype/prospect/test_prospect.py
@@ -27,6 +27,26 @@ class TestProspect(unittest.TestCase):
 		address_doc.reload()
 		self.assertEqual(address_doc.has_link("Prospect", prospect_doc.name), True)
 
+	def test_make_customer_from_prospect(self):
+		from erpnext.crm.doctype.prospect.prospect import make_customer as make_customer_from_prospect
+
+		frappe.delete_doc_if_exists("Customer", "_Test Prospect")
+
+		prospect = frappe.get_doc({
+			"doctype": "Prospect",
+			"company_name": "_Test Prospect",
+			"customer_group": "_Test Customer Group",
+		})
+		prospect.insert()
+
+		customer = make_customer_from_prospect("_Test Prospect")
+
+		self.assertEqual(customer.doctype, "Customer")
+		self.assertEqual(customer.company_name, "_Test Prospect")
+		self.assertEqual(customer.customer_group, "_Test Customer Group")
+
+		customer.company = "_Test Company"
+		customer.insert()
 
 def make_prospect(**args):
 	args = frappe._dict(args)
diff --git a/erpnext/selling/doctype/customer/customer.json b/erpnext/selling/doctype/customer/customer.json
index 4ce8d942154..961a4b3f8b5 100644
--- a/erpnext/selling/doctype/customer/customer.json
+++ b/erpnext/selling/doctype/customer/customer.json
@@ -21,6 +21,7 @@
   "gender",
   "lead_name",
   "opportunity_name",
+  "prospect_name",
   "account_manager",
   "image",
   "defaults_tab",
@@ -570,6 +571,14 @@
   {
    "fieldname": "column_break_nwor",
    "fieldtype": "Column Break"
+  },
+  {
+   "fieldname": "prospect_name",
+   "fieldtype": "Link",
+   "label": "From Prospect",
+   "no_copy": 1,
+   "options": "Prospect",
+   "print_hide": 1
   }
  ],
  "icon": "fa fa-user",
diff --git a/erpnext/selling/doctype/customer/customer.py b/erpnext/selling/doctype/customer/customer.py
index 0610c11fa9f..134ae753421 100644
--- a/erpnext/selling/doctype/customer/customer.py
+++ b/erpnext/selling/doctype/customer/customer.py
@@ -76,6 +76,7 @@ class Customer(TransactionBase):
 		payment_terms: DF.Link | None
 		portal_users: DF.Table[PortalUser]
 		primary_address: DF.Text | None
+		prospect_name: DF.Link | None
 		represents_company: DF.Link | None
 		sales_team: DF.Table[SalesTeam]
 		salutation: DF.Link | None
diff --git a/erpnext/selling/doctype/quotation/quotation.py b/erpnext/selling/doctype/quotation/quotation.py
index 4381531fc4b..1d7d3fcfbe0 100644
--- a/erpnext/selling/doctype/quotation/quotation.py
+++ b/erpnext/selling/doctype/quotation/quotation.py
@@ -513,14 +513,23 @@ def _make_customer(source_name, ignore_permissions=False):
 	if quotation.quotation_to == "Customer":
 		return frappe.get_doc("Customer", quotation.party_name)
 
-	# If the Quotation is not to a Customer, it must be to a Lead.
-	# Check if a Customer already exists for the Lead.
-	existing_customer_for_lead = frappe.db.get_value("Customer", {"lead_name": quotation.party_name})
-	if existing_customer_for_lead:
-		return frappe.get_doc("Customer", existing_customer_for_lead)
+	# Check if a Customer already exists for the Lead or Prospect.
+	existing_customer = None
+	if quotation.quotation_to == "Lead":
+		existing_customer = frappe.db.get_value("Customer", {"lead_name": quotation.party_name})
+	elif quotation.quotation_to == "Prospect":
+		existing_customer = frappe.db.get_value("Customer", {"prospect_name": quotation.party_name})
 
-	# If no Customer exists for the Lead, create a new Customer.
-	return create_customer_from_lead(quotation.party_name, ignore_permissions=ignore_permissions)
+	if existing_customer:
+		return frappe.get_doc("Customer", existing_customer)
+
+	# If no Customer exists, create a new Customer or Prospect.
+	if quotation.quotation_to == "Lead":
+		return create_customer_from_lead(quotation.party_name, ignore_permissions=ignore_permissions)
+	elif quotation.quotation_to == "Prospect":
+		return create_customer_from_prospect(quotation.party_name, ignore_permissions=ignore_permissions)
+
+	return None
 
 
 def create_customer_from_lead(lead_name, ignore_permissions=False):
@@ -536,6 +545,19 @@ def create_customer_from_lead(lead_name, ignore_permissions=False):
 		handle_mandatory_error(e, customer, lead_name)
 
 
+def create_customer_from_prospect(prospect_name, ignore_permissions=False):
+	from erpnext.crm.doctype.prospect.prospect import make_customer as make_customer_from_prospect
+
+	customer = make_customer_from_prospect(prospect_name)
+	customer.flags.ignore_permissions = ignore_permissions
+
+	try:
+		customer.insert()
+		return customer
+	except frappe.MandatoryError as e:
+		handle_mandatory_error(e, customer, prospect_name)
+
+
 def handle_mandatory_error(e, customer, lead_name):
 	from frappe.utils import get_link_to_form