diff --git a/src/cdk/schematics/update-tool/target-version.ts b/src/cdk/schematics/update-tool/target-version.ts
index a6371d05e001..299332563558 100644
--- a/src/cdk/schematics/update-tool/target-version.ts
+++ b/src/cdk/schematics/update-tool/target-version.ts
@@ -11,6 +11,7 @@
 // tslint:disable-next-line:prefer-const-enum
 export enum TargetVersion {
   V18 = 'version 18',
+  V19 = 'version 19',
 }
 
 /**
diff --git a/src/material/button/_button-theme.scss b/src/material/button/_button-theme.scss
index f1dac5fed58c..613242ffc145 100644
--- a/src/material/button/_button-theme.scss
+++ b/src/material/button/_button-theme.scss
@@ -280,16 +280,22 @@
     @include _theme-from-tokens(inspection.get-theme-tokens($theme, typography));
   } @else {
     @include sass-utils.current-selector-or-root() {
-      @include mdc-button-text-theme.theme(tokens-mdc-text-button.get-typography-tokens($theme));
-      @include mdc-button-filled-theme.theme(
-        tokens-mdc-filled-button.get-typography-tokens($theme)
+      @include token-utils.create-token-values(
+        tokens-mdc-text-button.$prefix,
+        tokens-mdc-text-button.get-typography-tokens($theme)
       );
-      @include mdc-button-outlined-theme.theme(
-        tokens-mdc-outlined-button.get-typography-tokens($theme)
+      @include token-utils.create-token-values(
+        tokens-mdc-filled-button.$prefix,
+        tokens-mdc-filled-button.get-typography-tokens($theme)
       );
-      @include mdc-button-protected-theme.theme(
+      @include token-utils.create-token-values(
+        tokens-mdc-protected-button.$prefix,
         tokens-mdc-protected-button.get-typography-tokens($theme)
       );
+      @include token-utils.create-token-values(
+        tokens-mdc-outlined-button.$prefix,
+        tokens-mdc-outlined-button.get-typography-tokens($theme)
+      );
 
       @include token-utils.create-token-values(
         tokens-mat-text-button.$prefix,
@@ -318,30 +324,37 @@
     @include _theme-from-tokens(inspection.get-theme-tokens($theme, density));
   } @else {
     @include sass-utils.current-selector-or-root() {
-      @include mdc-button-text-theme.theme(tokens-mdc-text-button.get-density-tokens($theme));
-      @include mdc-button-filled-theme.theme(tokens-mdc-filled-button.get-density-tokens($theme));
-      @include mdc-button-outlined-theme.theme(
-        tokens-mdc-outlined-button.get-density-tokens($theme)
+      @include token-utils.create-token-values(
+        tokens-mdc-text-button.$prefix,
+        tokens-mdc-text-button.get-typography-tokens($theme)
       );
-      @include mdc-button-protected-theme.theme(
-        tokens-mdc-protected-button.get-density-tokens($theme)
+      @include token-utils.create-token-values(
+        tokens-mdc-filled-button.$prefix,
+        tokens-mdc-filled-button.get-typography-tokens($theme)
+      );
+      @include token-utils.create-token-values(
+        tokens-mdc-protected-button.$prefix,
+        tokens-mdc-protected-button.get-typography-tokens($theme)
+      );
+      @include token-utils.create-token-values(
+        tokens-mdc-outlined-button.$prefix,
+        tokens-mdc-outlined-button.get-typography-tokens($theme)
       );
-
       @include token-utils.create-token-values(
         tokens-mat-text-button.$prefix,
-        tokens-mat-text-button.get-density-tokens($theme)
+        tokens-mat-text-button.get-typography-tokens($theme)
       );
       @include token-utils.create-token-values(
         tokens-mat-filled-button.$prefix,
-        tokens-mat-filled-button.get-density-tokens($theme)
+        tokens-mat-filled-button.get-typography-tokens($theme)
       );
       @include token-utils.create-token-values(
         tokens-mat-protected-button.$prefix,
-        tokens-mat-protected-button.get-density-tokens($theme)
+        tokens-mat-protected-button.get-typography-tokens($theme)
       );
       @include token-utils.create-token-values(
         tokens-mat-outlined-button.$prefix,
-        tokens-mat-outlined-button.get-density-tokens($theme)
+        tokens-mat-outlined-button.get-typography-tokens($theme)
       );
     }
   }
diff --git a/src/material/button/_fab-theme.scss b/src/material/button/_fab-theme.scss
index ae9bc25b11c3..80d0290a3835 100644
--- a/src/material/button/_fab-theme.scss
+++ b/src/material/button/_fab-theme.scss
@@ -123,7 +123,10 @@
     @include _theme-from-tokens(inspection.get-theme-tokens($theme, typography));
   } @else {
     @include sass-utils.current-selector-or-root() {
-      @include mdc-extended-fab-theme.theme(tokens-mdc-extended-fab.get-typography-tokens($theme));
+      @include token-utils.create-token-values(
+        tokens-mdc-extended-fab.$prefix,
+        tokens-mdc-extended-fab.get-typography-tokens($theme)
+      );
       @include token-utils.create-token-values(
         tokens-mat-fab.$prefix,
         tokens-mat-fab.get-typography-tokens($theme)
@@ -257,9 +260,13 @@
     tokens-mat-fab-small.$prefix,
     $options...
   );
-  @include mdc-extended-fab-theme.theme($mdc-extended-fab-tokens);
-  @include mdc-fab-theme.theme($mdc-fab-tokens);
-  @include mdc-fab-small-theme.theme($mdc-fab-small-tokens);
+
+  @include token-utils.create-token-values(
+    tokens-mdc-extended-fab.$prefix,
+    $mdc-extended-fab-tokens
+  );
+  @include token-utils.create-token-values(tokens-mdc-fab.$prefix, $mdc-fab-tokens);
+  @include token-utils.create-token-values(tokens-mdc-fab-small.$prefix, $mdc-fab-small-tokens);
   @include token-utils.create-token-values(tokens-mat-fab.$prefix, $mat-fab-tokens);
   @include token-utils.create-token-values(tokens-mat-fab-small.$prefix, $mat-fab-small-tokens);
 }
diff --git a/src/material/core/theming/tests/m3-theme.spec.ts b/src/material/core/theming/tests/m3-theme.spec.ts
index 51d9e11e4cd6..b91bb16ac5cd 100644
--- a/src/material/core/theming/tests/m3-theme.spec.ts
+++ b/src/material/core/theming/tests/m3-theme.spec.ts
@@ -286,7 +286,7 @@ describe('M3 theme', () => {
           (
             (namespace: (mat, minimal-pseudo-checkbox), prefix: 'minimal-'),
             (mat, full-pseudo-checkbox)
-          ), 
+          ),
           (
             minimal-selected-checkmark-color: magenta,
             selected-checkmark-color: cyan
@@ -310,7 +310,7 @@ describe('M3 theme', () => {
         $theme: token-utils.extend-theme($theme,
           (
             (namespace: (mat, minimal-pseudo-checkbox), prefix: 'minimal-'),
-          ), 
+          ),
           (
             selected-checkmark-color: magenta
           )
@@ -334,7 +334,7 @@ describe('M3 theme', () => {
           (
             (namespace: (mat, minimal-pseudo-checkbox), prefix: 'both-'),
             (namespace: (mat, full-pseudo-checkbox), prefix: 'both-')
-          ), 
+          ),
           (
             both-selected-checkmark-color: magenta
           )
diff --git a/src/material/schematics/migration.json b/src/material/schematics/migration.json
index 0fa2742f3b45..4c7657475b18 100644
--- a/src/material/schematics/migration.json
+++ b/src/material/schematics/migration.json
@@ -5,6 +5,11 @@
       "version": "18.0.0-0",
       "description": "Updates Angular Material to v18",
       "factory": "./ng-update/index_bundled#updateToV18"
+    },
+    "migration-v19": {
+      "version": "19.0.0-0",
+      "description": "Updates Angular Material to v19",
+      "factory": "./ng-update/index_bundled#updateToV19"
     }
   }
 }
diff --git a/src/material/schematics/ng-update/index.ts b/src/material/schematics/ng-update/index.ts
index f3ffc7b66686..975353cf6b64 100644
--- a/src/material/schematics/ng-update/index.ts
+++ b/src/material/schematics/ng-update/index.ts
@@ -8,21 +8,33 @@
 
 import {Rule, SchematicContext} from '@angular-devkit/schematics';
 import {
-  createMigrationSchematicRule,
   NullableDevkitMigration,
   TargetVersion,
+  createMigrationSchematicRule,
 } from '@angular/cdk/schematics';
 
-import {materialUpgradeData} from './upgrade-data';
 import {M2ThemingMigration} from './migrations/m2-theming-v18';
+import {TokenOverridesMigration} from './migrations/token-overrides-v19';
+import {materialUpgradeData} from './upgrade-data';
 
-const materialMigrations: NullableDevkitMigration[] = [M2ThemingMigration];
+const materialMigrationsV18: NullableDevkitMigration[] = [M2ThemingMigration];
+const materialMigrationsV19: NullableDevkitMigration[] = [TokenOverridesMigration];
 
 /** Entry point for the migration schematics with target of Angular Material v18 */
 export function updateToV18(): Rule {
   return createMigrationSchematicRule(
     TargetVersion.V18,
-    materialMigrations,
+    materialMigrationsV18,
+    materialUpgradeData,
+    onMigrationComplete,
+  );
+}
+
+/** Entry point for the migration schematics with target of Angular Material v19 */
+export function updateToV19(): Rule {
+  return createMigrationSchematicRule(
+    TargetVersion.V19,
+    materialMigrationsV19,
     materialUpgradeData,
     onMigrationComplete,
   );
diff --git a/src/material/schematics/ng-update/migrations/token-overrides-v19/index.ts b/src/material/schematics/ng-update/migrations/token-overrides-v19/index.ts
new file mode 100644
index 000000000000..9dc4feca52e7
--- /dev/null
+++ b/src/material/schematics/ng-update/migrations/token-overrides-v19/index.ts
@@ -0,0 +1,43 @@
+/**
+ * @license
+ * Copyright Google LLC All Rights Reserved.
+ *
+ * Use of this source code is governed by an MIT-style license that can be
+ * found in the LICENSE file at https://angular.io/license
+ */
+
+import {extname} from '@angular-devkit/core';
+import {DevkitMigration, ResolvedResource, TargetVersion} from '@angular/cdk/schematics';
+import {migrateTokenOverridesUsages} from './migration';
+
+/** Migration that updates usages of the token overrides APIs in v19. */
+export class TokenOverridesMigration extends DevkitMigration<null> {
+  private _potentialThemes: ResolvedResource[] = [];
+
+  /** Whether to run this migration. */
+  enabled = this.targetVersion === TargetVersion.V19;
+
+  override visitStylesheet(stylesheet: ResolvedResource): void {
+    if (
+      extname(stylesheet.filePath) === '.scss' &&
+      // Note: intended to exclude `@angular/material-experimental`.
+      stylesheet.content.match(/@angular\/material["']/)
+    ) {
+      this._potentialThemes.push(stylesheet);
+    }
+  }
+
+  override postAnalysis(): void {
+    for (const theme of this._potentialThemes) {
+      const migrated = migrateTokenOverridesUsages(theme.content);
+
+      if (migrated !== theme.content) {
+        this.fileSystem
+          .edit(theme.filePath)
+          .remove(0, theme.content.length)
+          .insertLeft(0, migrated);
+        this.fileSystem.commitEdits();
+      }
+    }
+  }
+}
diff --git a/src/material/schematics/ng-update/migrations/token-overrides-v19/migration.ts b/src/material/schematics/ng-update/migrations/token-overrides-v19/migration.ts
new file mode 100644
index 000000000000..d711b6f6fcbe
--- /dev/null
+++ b/src/material/schematics/ng-update/migrations/token-overrides-v19/migration.ts
@@ -0,0 +1,510 @@
+/**
+ * @license
+ * Copyright Google LLC All Rights Reserved.
+ *
+ * Use of this source code is governed by an MIT-style license that can be
+ * found in the LICENSE file at https://angular.io/license
+ */
+
+/** Map of override mixins that had some of their tokens renamed. */
+const RENAMED_TOKEN_OVERRIDES: {[key: string]: {[token: string]: string[]}} = {
+  'core-overrides': {
+    'background-color': ['app-background-color'],
+    'text-color': ['app-text-color'],
+    'elevation-shadow-level-0': ['app-elevation-shadow-level-0'],
+    'elevation-shadow-level-1': ['app-elevation-shadow-level-1'],
+    'elevation-shadow-level-2': ['app-elevation-shadow-level-2'],
+    'elevation-shadow-level-3': ['app-elevation-shadow-level-3'],
+    'elevation-shadow-level-4': ['app-elevation-shadow-level-4'],
+    'elevation-shadow-level-5': ['app-elevation-shadow-level-5'],
+    'elevation-shadow-level-6': ['app-elevation-shadow-level-6'],
+    'elevation-shadow-level-7': ['app-elevation-shadow-level-7'],
+    'elevation-shadow-level-8': ['app-elevation-shadow-level-8'],
+    'elevation-shadow-level-9': ['app-elevation-shadow-level-9'],
+    'elevation-shadow-level-10': ['app-elevation-shadow-level-10'],
+    'elevation-shadow-level-11': ['app-elevation-shadow-level-11'],
+    'elevation-shadow-level-12': ['app-elevation-shadow-level-12'],
+    'elevation-shadow-level-13': ['app-elevation-shadow-level-13'],
+    'elevation-shadow-level-14': ['app-elevation-shadow-level-14'],
+    'elevation-shadow-level-15': ['app-elevation-shadow-level-15'],
+    'elevation-shadow-level-16': ['app-elevation-shadow-level-16'],
+    'elevation-shadow-level-17': ['app-elevation-shadow-level-17'],
+    'elevation-shadow-level-18': ['app-elevation-shadow-level-18'],
+    'elevation-shadow-level-19': ['app-elevation-shadow-level-19'],
+    'elevation-shadow-level-20': ['app-elevation-shadow-level-20'],
+    'elevation-shadow-level-21': ['app-elevation-shadow-level-21'],
+    'elevation-shadow-level-22': ['app-elevation-shadow-level-22'],
+    'elevation-shadow-level-23': ['app-elevation-shadow-level-23'],
+    'elevation-shadow-level-24': ['app-elevation-shadow-level-24'],
+    'color': ['ripple-color'],
+    'selected-state-label-text-color': ['option-selected-state-label-text-color'],
+    'label-text-color': ['option-label-text-color', 'optgroup-label-text-color'],
+    'hover-state-layer-color': ['option-hover-state-layer-color'],
+    'focus-state-layer-color': ['option-focus-state-layer-color'],
+    'selected-state-layer-color': ['option-selected-state-layer-color'],
+    'label-text-font': ['option-label-text-font', 'optgroup-label-text-font'],
+    'label-text-line-height': ['option-label-text-line-height', 'optgroup-label-text-line-height'],
+    'label-text-size': ['option-label-text-size', 'optgroup-label-text-size'],
+    'label-text-tracking': ['option-label-text-tracking', 'optgroup-label-text-tracking'],
+    'label-text-weight': ['option-label-text-weight', 'optgroup-label-text-weight'],
+    'selected-icon-color': ['pseudo-checkbox-full-selected-icon-color'],
+    'selected-checkmark-color': [
+      'pseudo-checkbox-full-selected-checkmark-color',
+      'pseudo-checkbox-minimal-selected-checkmark-color',
+    ],
+    'unselected-icon-color': ['pseudo-checkbox-full-unselected-icon-color'],
+    'disabled-selected-checkmark-color': [
+      'pseudo-checkbox-full-disabled-selected-checkmark-color',
+      'pseudo-checkbox-minimal-disabled-selected-checkmark-color',
+    ],
+    'disabled-unselected-icon-color': ['pseudo-checkbox-full-disabled-unselected-icon-color'],
+    'disabled-selected-icon-color': ['pseudo-checkbox-full-disabled-selected-icon-color'],
+  },
+  'pseudo-checkbox-overrides': {
+    'selected-icon-color': ['full-selected-icon-color'],
+    'selected-checkmark-color': [
+      'full-selected-checkmark-color',
+      'minimal-selected-checkmark-color',
+    ],
+    'unselected-icon-color': ['full-unselected-icon-color'],
+    'disabled-selected-checkmark-color': [
+      'full-disabled-selected-checkmark-color',
+      'minimal-disabled-selected-checkmark-color',
+    ],
+    'disabled-unselected-icon-color': ['full-disabled-unselected-icon-color'],
+    'disabled-selected-icon-color': ['full-disabled-selected-icon-color'],
+  },
+  'button-overrides': {
+    'container-shape': [
+      'filled-container-shape',
+      'outlined-container-shape',
+      'protected-container-shape',
+      'text-container-shape',
+    ],
+    'keep-touch-target': [
+      'filled-keep-touch-target',
+      'outlined-keep-touch-target',
+      'protected-keep-touch-target',
+      'text-keep-touch-target',
+    ],
+    'container-color': ['filled-container-color', 'protected-container-color'],
+    'label-text-color': [
+      'filled-label-text-color',
+      'outlined-label-text-color',
+      'protected-label-text-color',
+      'text-label-text-color',
+    ],
+    'disabled-container-color': [
+      'filled-disabled-container-color',
+      'protected-disabled-container-color',
+    ],
+    'disabled-label-text-color': [
+      'filled-disabled-label-text-color',
+      'outlined-disabled-label-text-color',
+      'protected-disabled-label-text-color',
+      'text-disabled-label-text-color',
+    ],
+    'label-text-font': [
+      'filled-label-text-font',
+      'outlined-label-text-font',
+      'protected-label-text-font',
+      'text-label-text-font',
+    ],
+    'label-text-size': [
+      'filled-label-text-size',
+      'outlined-label-text-size',
+      'protected-label-text-size',
+      'text-label-text-size',
+    ],
+    'label-text-tracking': [
+      'filled-label-text-tracking',
+      'outlined-label-text-tracking',
+      'protected-label-text-tracking',
+      'text-label-text-tracking',
+    ],
+    'label-text-weight': [
+      'filled-label-text-weight',
+      'outlined-label-text-weight',
+      'protected-label-text-weight',
+      'text-label-text-weight',
+    ],
+    'label-text-transform': [
+      'filled-label-text-transform',
+      'outlined-label-text-transform',
+      'protected-label-text-transform',
+      'text-label-text-transform',
+    ],
+    'container-height': [
+      'filled-container-height',
+      'outlined-container-height',
+      'protected-container-height',
+      'text-container-height',
+    ],
+    'horizontal-padding': [
+      'filled-horizontal-padding',
+      'outlined-horizontal-padding',
+      'protected-horizontal-padding',
+      'text-horizontal-padding',
+    ],
+    'icon-spacing': [
+      'filled-icon-spacing',
+      'outlined-icon-spacing',
+      'protected-icon-spacing',
+      'text-icon-spacing',
+    ],
+    'icon-offset': [
+      'filled-icon-offset',
+      'outlined-icon-offset',
+      'protected-icon-offset',
+      'text-icon-offset',
+    ],
+    'state-layer-color': [
+      'filled-state-layer-color',
+      'outlined-state-layer-color',
+      'protected-state-layer-color',
+      'text-state-layer-color',
+    ],
+    'disabled-state-layer-color': [
+      'filled-disabled-state-layer-color',
+      'outlined-disabled-state-layer-color',
+      'protected-disabled-state-layer-color',
+      'text-disabled-state-layer-color',
+    ],
+    'ripple-color': [
+      'filled-ripple-color',
+      'outlined-ripple-color',
+      'protected-ripple-color',
+      'text-ripple-color',
+    ],
+    'hover-state-layer-opacity': [
+      'filled-hover-state-layer-opacity',
+      'outlined-hover-state-layer-opacity',
+      'protected-hover-state-layer-opacity',
+      'text-hover-state-layer-opacity',
+    ],
+    'focus-state-layer-opacity': [
+      'filled-focus-state-layer-opacity',
+      'outlined-focus-state-layer-opacity',
+      'protected-focus-state-layer-opacity',
+      'text-focus-state-layer-opacity',
+    ],
+    'pressed-state-layer-opacity': [
+      'filled-pressed-state-layer-opacity',
+      'outlined-pressed-state-layer-opacity',
+      'protected-pressed-state-layer-opacity',
+      'text-pressed-state-layer-opacity',
+    ],
+    'touch-target-display': [
+      'filled-touch-target-display',
+      'outlined-touch-target-display',
+      'protected-touch-target-display',
+      'text-touch-target-display',
+    ],
+    'outline-width': ['outlined-outline-width'],
+    'disabled-outline-color': ['outlined-disabled-outline-color'],
+    'outline-color': ['outlined-outline-color'],
+    'container-elevation': ['protected-container-elevation'],
+    'disabled-container-elevation': ['protected-disabled-container-elevation'],
+    'focus-container-elevation': ['protected-focus-container-elevation'],
+    'hover-container-elevation': ['protected-hover-container-elevation'],
+    'pressed-container-elevation': ['protected-pressed-container-elevation'],
+    'container-shadow-color': ['protected-container-shadow-color'],
+    'with-icon-horizontal-padding': ['text-with-icon-horizontal-padding'],
+  },
+  'fab-overrides': {
+    'container-shape': ['container-shape', 'small-container-shape', 'extended-container-shape'],
+    'icon-size': ['icon-size', 'small-icon-size'],
+    'container-color': ['container-color', 'small-container-color'],
+    'container-elevation': [
+      'container-elevation',
+      'small-container-elevation',
+      'extended-container-elevation',
+    ],
+    'focus-container-elevation': [
+      'focus-container-elevation',
+      'small-focus-container-elevation',
+      'extended-focus-container-elevation',
+    ],
+    'hover-container-elevation': [
+      'hover-container-elevation',
+      'small-hover-container-elevation',
+      'extended-hover-container-elevation',
+    ],
+    'pressed-container-elevation': [
+      'pressed-container-elevation',
+      'small-pressed-container-elevation',
+      'extended-pressed-container-elevation',
+    ],
+    'container-shadow-color': [
+      'container-shadow-color',
+      'small-container-shadow-color',
+      'extended-container-shadow-color',
+    ],
+    'container-height': ['extended-container-height'],
+    'label-text-font': ['extended-label-text-font'],
+    'label-text-size': ['extended-label-text-size'],
+    'label-text-tracking': ['extended-label-text-tracking'],
+    'label-text-weight': ['extended-label-text-weight'],
+    'foreground-color': ['foreground-color', 'small-foreground-color'],
+    'state-layer-color': ['state-layer-color', 'small-state-layer-color'],
+    'disabled-state-layer-color': [
+      'disabled-state-layer-color',
+      'small-disabled-state-layer-color',
+    ],
+    'ripple-color': ['ripple-color', 'small-ripple-color'],
+    'hover-state-layer-opacity': ['hover-state-layer-opacity', 'small-hover-state-layer-opacity'],
+    'focus-state-layer-opacity': ['focus-state-layer-opacity', 'small-focus-state-layer-opacity'],
+    'pressed-state-layer-opacity': [
+      'pressed-state-layer-opacity',
+      'small-pressed-state-layer-opacity',
+    ],
+    'disabled-state-container-color': [
+      'disabled-state-container-color',
+      'small-disabled-state-container-color',
+    ],
+    'disabled-state-foreground-color': [
+      'disabled-state-foreground-color',
+      'small-disabled-state-foreground-color',
+    ],
+    'touch-target-display': ['touch-target-display', 'small-touch-target-display'],
+  },
+  'card-overrides': {
+    'container-shape': ['elevated-container-shape', 'outlined-container-shape'],
+    'container-color': ['elevated-container-color', 'outlined-container-color'],
+    'container-elevation': ['elevated-container-elevation', 'outlined-container-elevation'],
+    'outline-width': ['outlined-outline-width'],
+    'outline-color': ['outlined-outline-color'],
+    'undefined': [''],
+  },
+};
+
+/** Possible pairs of comment characters in a Sass file. */
+const COMMENT_PAIRS = new Map<string, string>([
+  ['/*', '*/'],
+  ['//', '\n'],
+]);
+
+/** Prefix for the placeholder that will be used to escape comments. */
+const COMMENT_PLACEHOLDER_START = '__<<ngM2ThemingMigrationEscapedComment';
+
+/** Suffix for the comment escape placeholder. */
+const COMMENT_PLACEHOLDER_END = '>>__';
+
+/** Replaces all usages of renamed M2 theming APIs in a file. */
+export function migrateTokenOverridesUsages(fileContent: string): string {
+  // Strip out comments, so they don't confuse our migration.
+  let {content, placeholders} = escapeComments(fileContent);
+  const materialNamespaces = getNamespaces('@angular/material', content);
+
+  // TODO: Migrate overide mixins that had their tokens renamed.
+  for (const namespace of materialNamespaces) {
+    for (const overrideMixin of Object.keys(RENAMED_TOKEN_OVERRIDES)) {
+      content = migrateOverrideMixin(
+        content,
+        namespace,
+        overrideMixin,
+        RENAMED_TOKEN_OVERRIDES[overrideMixin],
+      );
+    }
+  }
+
+  return restoreComments(content, placeholders);
+}
+
+/**
+ * Update token names in calls to the given mixin.
+ */
+function migrateOverrideMixin(
+  content: string,
+  namespace: string,
+  mixin: string,
+  tokens: {[token: string]: string[]},
+): string {
+  const usagePrefix = new RegExp(String.raw`\s${namespace}\.${mixin}\(`, 'g');
+  const usages = findAllIndicies(content, usagePrefix).sort((a, b) => b - a);
+  for (const usageStart of usages) {
+    const usageEnd =
+      findMatchingClose(content, usageStart + mixin.length + namespace.length + 2) + 1;
+    let usageText = content.slice(usageStart, usageEnd);
+    for (const [token, replacements] of Object.entries(tokens)) {
+      usageText = migrateTokenNameInOverride(usageText, token, replacements);
+    }
+    content = content.slice(0, usageStart) + usageText + content.slice(usageEnd);
+  }
+  return content;
+}
+
+/**
+ * Update the name of a token in a call to an override mixin.
+ */
+function migrateTokenNameInOverride(
+  content: string,
+  token: string,
+  replacements: string[],
+): string {
+  const match = new RegExp(String.raw`[,(]\s*${token}:`).exec(content);
+  if (match === null) {
+    return content;
+  }
+  const start = match.index + 1;
+  let end = content.indexOf(',', start + 1);
+  if (end === -1) {
+    end = content.length - 2;
+  }
+  const tokenProp = content.slice(start, end);
+  const hasLeadingWhitespace = /\s/.test(content[start]);
+  const hasTrailingComma = content[end - 1] === ',';
+  return (
+    content.slice(0, start) +
+    replacements
+      .map((replacement, i) => {
+        let result = tokenProp.replace(token, replacement);
+        if (!hasLeadingWhitespace && i > 0) {
+          result = ' ' + result;
+        }
+        if (!hasTrailingComma && i < replacements.length - 1) {
+          result = result.trimEnd() + ',';
+        }
+        return result;
+      })
+      .join('') +
+    content.slice(end)
+  );
+}
+
+/**
+ * Find the index of the matching close paren for the open paren at the given index.
+ */
+function findMatchingClose(content: string, start: number) {
+  let index = start;
+  if (content[index] !== '(') {
+    throw Error('Expected open parenthesis.');
+  }
+
+  let count = 1;
+  while (count > 0 && index < content.length) {
+    index++;
+    if (content[index] === '(') {
+      count++;
+    } else if (content[index] === ')') {
+      count--;
+    }
+  }
+
+  if (count !== 0) {
+    throw Error('Could not find matching close parenthesis.');
+  }
+
+  return index;
+}
+
+/**
+ * Find all indicies of the given pattern in the content.
+ */
+function findAllIndicies(content: string, pattern: RegExp) {
+  const indicies = [];
+  let m: RegExpExecArray | null;
+  while ((m = pattern.exec(content)) !== null) {
+    indicies.push(m.index);
+  }
+  return indicies;
+}
+
+/**
+ * Replaces all the comments in a Sass file with placeholders and
+ * returns the list of placeholders, so they can be restored later.
+ */
+function escapeComments(content: string): {content: string; placeholders: Record<string, string>} {
+  const placeholders: Record<string, string> = {};
+  let commentCounter = 0;
+  let [openIndex, closeIndex] = findComment(content);
+
+  while (openIndex > -1 && closeIndex > -1) {
+    const placeholder = COMMENT_PLACEHOLDER_START + commentCounter++ + COMMENT_PLACEHOLDER_END;
+    placeholders[placeholder] = content.slice(openIndex, closeIndex);
+    content = content.slice(0, openIndex) + placeholder + content.slice(closeIndex);
+    [openIndex, closeIndex] = findComment(content);
+  }
+
+  return {content, placeholders};
+}
+
+/** Finds the start and end index of a comment in a file. */
+function findComment(content: string): [openIndex: number, closeIndex: number] {
+  // Add an extra new line at the end so that we can correctly capture single-line comments
+  // at the end of the file. It doesn't really matter that the end index will be out of bounds,
+  // because `String.prototype.slice` will clamp it to the string length.
+  content += '\n';
+
+  for (const [open, close] of COMMENT_PAIRS.entries()) {
+    const openIndex = content.indexOf(open);
+
+    if (openIndex > -1) {
+      const closeIndex = content.indexOf(close, openIndex + 1);
+      return closeIndex > -1 ? [openIndex, closeIndex + close.length] : [-1, -1];
+    }
+  }
+
+  return [-1, -1];
+}
+
+/** Restores the comments that have been escaped by `escapeComments`. */
+function restoreComments(content: string, placeholders: Record<string, string>): string {
+  Object.keys(placeholders).forEach(key => (content = content.replace(key, placeholders[key])));
+  return content;
+}
+
+/** Parses out the namespace from a Sass `@use` statement. */
+function extractNamespaceFromUseStatement(fullImport: string): string {
+  const closeQuoteIndex = Math.max(fullImport.lastIndexOf(`"`), fullImport.lastIndexOf(`'`));
+
+  if (closeQuoteIndex > -1) {
+    const asExpression = 'as ';
+    const asIndex = fullImport.indexOf(asExpression, closeQuoteIndex);
+
+    // If we found an ` as ` expression, we consider the rest of the text as the namespace.
+    if (asIndex > -1) {
+      return fullImport
+        .slice(asIndex + asExpression.length)
+        .split(';')[0]
+        .trim();
+    }
+
+    // Otherwise the namespace is the name of the file that is being imported.
+    const lastSlashIndex = fullImport.lastIndexOf('/', closeQuoteIndex);
+
+    if (lastSlashIndex > -1) {
+      const fileName = fullImport
+        .slice(lastSlashIndex + 1, closeQuoteIndex)
+        // Sass allows for leading underscores to be omitted and it technically supports .scss.
+        .replace(/^_|(\.import)?\.scss$|\.import$/g, '');
+
+      // Sass ignores `/index` and infers the namespace as the next segment in the path.
+      if (fileName === 'index') {
+        const nextSlashIndex = fullImport.lastIndexOf('/', lastSlashIndex - 1);
+
+        if (nextSlashIndex > -1) {
+          return fullImport.slice(nextSlashIndex + 1, lastSlashIndex);
+        }
+      } else {
+        return fileName;
+      }
+    }
+  }
+
+  throw Error(`Could not extract namespace from import "${fullImport}".`);
+}
+
+/** Gets all the namespaces that a module is available under in a specific file. */
+function getNamespaces(moduleName: string, content: string): string[] {
+  const namespaces = new Set<string>();
+  const escapedName = moduleName.replace(/([.*+?^=!:${}()|[\]\/\\])/g, '\\$1');
+  const pattern = new RegExp(`@use +['"]${escapedName}['"].*;?\\r?\\n`, 'g');
+  let match: RegExpExecArray | null = null;
+
+  while ((match = pattern.exec(content))) {
+    namespaces.add(extractNamespaceFromUseStatement(match[0]));
+  }
+
+  return Array.from(namespaces);
+}
diff --git a/src/material/schematics/ng-update/test-cases/token-overrides.spec.ts b/src/material/schematics/ng-update/test-cases/token-overrides.spec.ts
new file mode 100644
index 000000000000..f83f944c2d98
--- /dev/null
+++ b/src/material/schematics/ng-update/test-cases/token-overrides.spec.ts
@@ -0,0 +1,100 @@
+import {createTestCaseSetup} from '@angular/cdk/schematics/testing';
+import {MIGRATION_PATH} from '../../paths';
+
+describe('Token overrides migration', () => {
+  async function setup(originalSource: string): Promise<string> {
+    const themePath = 'projects/cdk-testing/theme.scss';
+    const {runFixers, writeFile, appTree} = await createTestCaseSetup(
+      'migration-v19',
+      MIGRATION_PATH,
+      [],
+    );
+
+    writeFile(themePath, originalSource);
+    await runFixers();
+    return appTree.readContent(themePath);
+  }
+
+  it('should update token names', async () => {
+    const result = await setup(
+      [
+        `@use '@angular/material' as mat;`,
+
+        `@include mat.core-overrides((`,
+        `  background-color: red,`,
+        `));`,
+      ].join('\n'),
+    );
+
+    expect(result.split('\n')).toEqual([
+      `@use '@angular/material' as mat;`,
+
+      `@include mat.core-overrides((`,
+      `  app-background-color: red,`,
+      `));`,
+    ]);
+  });
+
+  it('should split ambiguous tokens into multiple assignments', async () => {
+    const result = await setup(
+      [
+        `@use '@angular/material' as mat;`,
+
+        `@include mat.button-overrides((`,
+        `  container-shape: 5px,`,
+        `));`,
+      ].join('\n'),
+    );
+
+    expect(result.split('\n')).toEqual([
+      `@use '@angular/material' as mat;`,
+
+      `@include mat.button-overrides((`,
+      `  filled-container-shape: 5px,`,
+      `  outlined-container-shape: 5px,`,
+      `  protected-container-shape: 5px,`,
+      `  text-container-shape: 5px,`,
+      `));`,
+    ]);
+  });
+
+  it('should update multiple token names', async () => {
+    const result = await setup(
+      [
+        `@use '@angular/material' as mat;`,
+
+        `@include mat.core-overrides((`,
+        `  background-color: red,`,
+        `  label-text-color: blue`,
+        `));`,
+      ].join('\n'),
+    );
+
+    expect(result.split('\n')).toEqual([
+      `@use '@angular/material' as mat;`,
+
+      `@include mat.core-overrides((`,
+      `  app-background-color: red,`,
+      `  option-label-text-color: blue,`,
+      `  optgroup-label-text-color: blue`,
+      `));`,
+    ]);
+  });
+
+  it('should work with single-line formatting', async () => {
+    const result = await setup(
+      [
+        `@use '@angular/material' as mat;`,
+
+        `@include mat.button-overrides((container-color: green));`,
+      ].join('\n'),
+    );
+
+    expect(result.split('\n')).toEqual([
+      `@use '@angular/material' as mat;`,
+
+      `@include mat.button-overrides((` +
+        `filled-container-color: green, protected-container-color: green));`,
+    ]);
+  });
+});