diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9827cdfa72a..e9d048cbb3c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,8 @@
 - Added `paddingSize` prop to `EuiSelectableList` ([#5581](https://github.com/elastic/eui/pull/5581))
 - Added `errorMessage` prop to `EuiSelectable` ([#5581](https://github.com/elastic/eui/pull/5581))
 - Refactored `EuiSelectable` accessibility ([#5581](https://github.com/elastic/eui/pull/5581))
+- Updated `tokenTag` design to look more like a tag ([#5553](https://github.com/elastic/eui/pull/5553))
+- Lowered border radius of `.euiToken--square` to look more like a square ([#5553](https://github.com/elastic/eui/pull/5553))
 
 **Bug fixes**
 
diff --git a/src/components/icon/__snapshots__/icon.test.tsx.snap b/src/components/icon/__snapshots__/icon.test.tsx.snap
index 8419c5b717a..afc12e659a9 100644
--- a/src/components/icon/__snapshots__/icon.test.tsx.snap
+++ b/src/components/icon/__snapshots__/icon.test.tsx.snap
@@ -9637,11 +9637,10 @@ exports[`EuiIcon props type tokenTag is rendered 1`] = `
   xmlns="http://www.w3.org/2000/svg"
 >
   <path
-    d="M5.75 7.375a.25.25 0 00-.25.25v.75c0 .138.112.25.25.25h3.5a.25.25 0 00.25-.25v-.75a.25.25 0 00-.25-.25h-3.5z"
+    d="M10 8a1 1 0 11-2 0 1 1 0 012 0z"
   />
   <path
-    clip-rule="evenodd"
-    d="M3 5a1 1 0 011-1h5.989a1 1 0 01.825.436l2.05 3a1 1 0 010 1.128l-2.05 3A1 1 0 019.99 12H4a1 1 0 01-1-1V5zm1.25.75a.5.5 0 01.5-.5h4.745a.5.5 0 01.405.206l1.636 2.25a.5.5 0 010 .588L9.9 10.544a.5.5 0 01-.405.206H4.75a.5.5 0 01-.5-.5v-4.5z"
+    d="M4 4a1 1 0 00-1 1v6a1 1 0 001 1h6.989a1 1 0 00.825-.436l2.05-3a1 1 0 000-1.128l-2.05-3A1 1 0 0010.99 4H4zm.75 1.25a.5.5 0 00-.5.5v4.5a.5.5 0 00.5.5h5.745a.5.5 0 00.405-.206l1.636-2.25a.5.5 0 000-.588L10.9 5.456a.5.5 0 00-.405-.206H4.75z"
     fill-rule="evenodd"
   />
 </svg>
diff --git a/src/components/icon/assets/tokenTag.tsx b/src/components/icon/assets/tokenTag.tsx
index 3f11f4a012e..a61ab632b61 100644
--- a/src/components/icon/assets/tokenTag.tsx
+++ b/src/components/icon/assets/tokenTag.tsx
@@ -28,11 +28,10 @@ const EuiIconTokenTag = ({
     {...props}
   >
     {title ? <title id={titleId}>{title}</title> : null}
-    <path d="M5.75 7.375a.25.25 0 00-.25.25v.75c0 .138.112.25.25.25h3.5a.25.25 0 00.25-.25v-.75a.25.25 0 00-.25-.25h-3.5z" />
+    <path d="M10 8a1 1 0 11-2 0 1 1 0 012 0z" />
     <path
       fillRule="evenodd"
-      clipRule="evenodd"
-      d="M3 5a1 1 0 011-1h5.989a1 1 0 01.825.436l2.05 3a1 1 0 010 1.128l-2.05 3A1 1 0 019.99 12H4a1 1 0 01-1-1V5zm1.25.75a.5.5 0 01.5-.5h4.745a.5.5 0 01.405.206l1.636 2.25a.5.5 0 010 .588L9.9 10.544a.5.5 0 01-.405.206H4.75a.5.5 0 01-.5-.5v-4.5z"
+      d="M4 4a1 1 0 00-1 1v6a1 1 0 001 1h6.989a1 1 0 00.825-.436l2.05-3a1 1 0 000-1.128l-2.05-3A1 1 0 0010.99 4H4zm.75 1.25a.5.5 0 00-.5.5v4.5a.5.5 0 00.5.5h5.745a.5.5 0 00.405-.206l1.636-2.25a.5.5 0 000-.588L10.9 5.456a.5.5 0 00-.405-.206H4.75z"
     />
   </svg>
 );
diff --git a/src/components/icon/svgs/tokens/tokenTag.svg b/src/components/icon/svgs/tokens/tokenTag.svg
index e9a384246e9..e9c465e3e4d 100644
--- a/src/components/icon/svgs/tokens/tokenTag.svg
+++ b/src/components/icon/svgs/tokens/tokenTag.svg
@@ -1,6 +1,4 @@
 <svg width="16" height="16" viewBox="0 0 16 16" xmlns="http://www.w3.org/2000/svg">
-  <g>
-    <path d="M5.75 7.375C5.61193 7.375 5.5 7.48693 5.5 7.625V8.375C5.5 8.51307 5.61193 8.625 5.75 8.625H9.25C9.38807 8.625 9.5 8.51307 9.5 8.375V7.625C9.5 7.48693 9.38807 7.375 9.25 7.375H5.75Z"/>
-    <path fill-rule="evenodd" clip-rule="evenodd" d="M3 5C3 4.44772 3.44772 4 4 4H9.98882C10.3191 4 10.6281 4.1631 10.8145 4.43581L12.8645 7.43581C13.0969 7.77601 13.0969 8.22398 12.8645 8.56419L10.8145 11.5642C10.6281 11.8369 10.3191 12 9.98883 12H4C3.44772 12 3 11.5523 3 11V5ZM4.25 5.75C4.25 5.47386 4.47386 5.25 4.75 5.25H9.49539C9.65536 5.25 9.80567 5.32654 9.89976 5.45591L11.5361 7.70591C11.6636 7.88124 11.6636 8.11876 11.5361 8.29409L9.89976 10.5441C9.80567 10.6735 9.65536 10.75 9.49539 10.75H4.75C4.47386 10.75 4.25 10.5261 4.25 10.25V5.75Z"/>
-</g>
+  <path d="M10 8a1 1 0 1 1-2 0 1 1 0 0 1 2 0Z"/>
+  <path fill-rule="evenodd" d="M4 4a1 1 0 0 0-1 1v6a1 1 0 0 0 1 1h6.989a1 1 0 0 0 .825-.436l2.05-3a1 1 0 0 0 0-1.128l-2.05-3A1 1 0 0 0 10.99 4H4Zm.75 1.25a.5.5 0 0 0-.5.5v4.5a.5.5 0 0 0 .5.5h5.745a.5.5 0 0 0 .405-.206l1.636-2.25a.5.5 0 0 0 0-.588L10.9 5.456a.5.5 0 0 0-.405-.206H4.75Z"/>
 </svg>
\ No newline at end of file
diff --git a/src/themes/amsterdam/overrides/_index.scss b/src/themes/amsterdam/overrides/_index.scss
index fcb4c891e5e..2e6753aca4a 100644
--- a/src/themes/amsterdam/overrides/_index.scss
+++ b/src/themes/amsterdam/overrides/_index.scss
@@ -45,4 +45,5 @@
 @import 'tabs';
 @import 'text';
 @import 'toast';
+@import 'token';
 @import 'tooltip';
diff --git a/src/themes/amsterdam/overrides/_token.scss b/src/themes/amsterdam/overrides/_token.scss
new file mode 100644
index 00000000000..7302be7663c
--- /dev/null
+++ b/src/themes/amsterdam/overrides/_token.scss
@@ -0,0 +1,4 @@
+.euiToken--square {
+  // Same border radius as the legacy theme
+  border-radius: $euiBorderRadiusSmall - 1px;
+}