diff --git a/public/component_types/interfaces.ts b/public/component_types/interfaces.ts
index cc373b2f..bff6d22d 100644
--- a/public/component_types/interfaces.ts
+++ b/public/component_types/interfaces.ts
@@ -3,6 +3,7 @@
  * SPDX-License-Identifier: Apache-2.0
  */
 
+import { FormikValues } from 'formik';
 import { COMPONENT_CATEGORY, COMPONENT_CLASS } from '../utils';
 
 /**
@@ -13,10 +14,10 @@ export type FieldType = 'string' | 'json' | 'select';
 // TODO: this may expand to more types in the future. Formik supports 'any' so we can too.
 // For now, limiting scope to expected types.
 export type FieldValue = string | {};
-
-/**
- * ************ Base interfaces ****************
- */
+export type ComponentFormValues = FormikValues;
+export type WorkspaceFormValues = {
+  [componentId: string]: ComponentFormValues;
+};
 
 /**
  * Represents a single base class as an input handle for a component.
diff --git a/public/pages/workflow_detail/component_details/component_details.tsx b/public/pages/workflow_detail/component_details/component_details.tsx
index ab3f37a8..bd4a9016 100644
--- a/public/pages/workflow_detail/component_details/component_details.tsx
+++ b/public/pages/workflow_detail/component_details/component_details.tsx
@@ -5,23 +5,14 @@
 
 import React, { useState, useContext } from 'react';
 import { useOnSelectionChange } from 'reactflow';
-import {
-  EuiFlexGroup,
-  EuiFlexItem,
-  EuiSpacer,
-  EuiPanel,
-  EuiTitle,
-  EuiEmptyPrompt,
-  EuiText,
-} from '@elastic/eui';
-import { Formik, Field, Form, FormikHelpers } from 'formik';
+import { EuiFlexGroup, EuiFlexItem, EuiPanel } from '@elastic/eui';
 import { ReactFlowComponent } from '../../../../common';
 import { rfContext } from '../../../store';
-import { InputFieldList } from './input_field_list';
+import { ComponentInputs } from './component_inputs';
+import { EmptyComponentInputs } from './empty_component_inputs';
 
 // styling
 import '../workspace/workspace-styles.scss';
-import { ComponentInputs } from './component_inputs';
 
 interface ComponentDetailsProps {
   onToggleChange: () => void;
@@ -42,8 +33,6 @@ export function ComponentDetails(props: ComponentDetailsProps) {
     ReactFlowComponent
   >();
 
-  const data = selectedComponent?.data;
-
   /**
    * Hook provided by reactflow to listen on when nodes are selected / de-selected.
    * - populate panel content appropriately
@@ -64,36 +53,20 @@ export function ComponentDetails(props: ComponentDetailsProps) {
   });
 
   return (
-    <Formik initialValues={{}} onSubmit={() => {}}>
-      <Form>
-        <EuiFlexGroup
-          direction="column"
-          gutterSize="none"
-          className="workspace-panel"
-        >
-          <EuiFlexItem className="resizable-panel-border">
-            <EuiPanel paddingSize="m">
-              {selectedComponent ? (
-                <ComponentInputs selectedComponent={selectedComponent} />
-              ) : (
-                <EuiEmptyPrompt
-                  iconType={'cross'}
-                  title={<h2>No component selected</h2>}
-                  titleSize="s"
-                  body={
-                    <>
-                      <EuiText>
-                        Add a component, or select a component to view or edit
-                        its configuration.
-                      </EuiText>
-                    </>
-                  }
-                />
-              )}
-            </EuiPanel>
-          </EuiFlexItem>
-        </EuiFlexGroup>
-      </Form>
-    </Formik>
+    <EuiFlexGroup
+      direction="column"
+      gutterSize="none"
+      className="workspace-panel"
+    >
+      <EuiFlexItem className="resizable-panel-border">
+        <EuiPanel paddingSize="m">
+          {selectedComponent ? (
+            <ComponentInputs selectedComponent={selectedComponent} />
+          ) : (
+            <EmptyComponentInputs />
+          )}
+        </EuiPanel>
+      </EuiFlexItem>
+    </EuiFlexGroup>
   );
 }
diff --git a/public/pages/workflow_detail/component_details/component_inputs.tsx b/public/pages/workflow_detail/component_details/component_inputs.tsx
index e763d9c5..bed3ad72 100644
--- a/public/pages/workflow_detail/component_details/component_inputs.tsx
+++ b/public/pages/workflow_detail/component_details/component_inputs.tsx
@@ -19,7 +19,7 @@ export function ComponentInputs(props: ComponentInputsProps) {
         <h2>{props.selectedComponent.data.label || ''}</h2>
       </EuiTitle>
       <EuiSpacer size="s" />
-      <InputFieldList inputFields={props.selectedComponent.data.fields || []} />
+      <InputFieldList selectedComponent={props.selectedComponent} />
     </>
   );
 }
diff --git a/public/pages/workflow_detail/component_details/empty_component_inputs.tsx b/public/pages/workflow_detail/component_details/empty_component_inputs.tsx
new file mode 100644
index 00000000..18a19880
--- /dev/null
+++ b/public/pages/workflow_detail/component_details/empty_component_inputs.tsx
@@ -0,0 +1,25 @@
+/*
+ * Copyright OpenSearch Contributors
+ * SPDX-License-Identifier: Apache-2.0
+ */
+
+import React from 'react';
+import { EuiEmptyPrompt, EuiText } from '@elastic/eui';
+
+export function EmptyComponentInputs() {
+  return (
+    <EuiEmptyPrompt
+      iconType={'cross'}
+      title={<h2>No component selected</h2>}
+      titleSize="s"
+      body={
+        <>
+          <EuiText>
+            Add a component, or select a component to view or edit its
+            configuration.
+          </EuiText>
+        </>
+      }
+    />
+  );
+}
diff --git a/public/pages/workflow_detail/component_details/input_field_list.tsx b/public/pages/workflow_detail/component_details/input_field_list.tsx
index e37979e6..906e9620 100644
--- a/public/pages/workflow_detail/component_details/input_field_list.tsx
+++ b/public/pages/workflow_detail/component_details/input_field_list.tsx
@@ -5,8 +5,8 @@
 
 import React from 'react';
 import { EuiFlexItem, EuiSpacer } from '@elastic/eui';
-import { IComponentField } from '../../../component_types';
 import { TextField, JsonField, SelectField } from './input_fields';
+import { ReactFlowComponent } from '../../../../common';
 
 /**
  * A helper component to format all of the input fields for a component. Dynamically
@@ -14,21 +14,22 @@ import { TextField, JsonField, SelectField } from './input_fields';
  */
 
 interface InputFieldListProps {
-  inputFields?: IComponentField[];
+  selectedComponent: ReactFlowComponent;
 }
 
 export function InputFieldList(props: InputFieldListProps) {
+  const inputFields = props.selectedComponent.data.fields || [];
   return (
     <EuiFlexItem grow={false}>
-      {props.inputFields?.map((field, idx) => {
+      {inputFields.map((field, idx) => {
         let el;
         switch (field.type) {
           case 'string': {
             el = (
               <EuiFlexItem key={idx}>
                 <TextField
-                  label={field.label}
-                  placeholder={field.placeholder || ''}
+                  field={field}
+                  componentId={props.selectedComponent.id}
                 />
                 <EuiSpacer size="s" />
               </EuiFlexItem>
diff --git a/public/pages/workflow_detail/component_details/input_fields/text_field.tsx b/public/pages/workflow_detail/component_details/input_fields/text_field.tsx
index b22635db..ad92d5ca 100644
--- a/public/pages/workflow_detail/component_details/input_fields/text_field.tsx
+++ b/public/pages/workflow_detail/component_details/input_fields/text_field.tsx
@@ -4,11 +4,13 @@
  */
 
 import React from 'react';
-import { EuiFieldText } from '@elastic/eui';
+import { Field, FieldProps } from 'formik';
+import { EuiFieldText, EuiFormRow } from '@elastic/eui';
+import { IComponentField } from '../../../../../common';
 
 interface TextFieldProps {
-  label: string;
-  placeholder: string;
+  field: IComponentField;
+  componentId: string;
 }
 
 /**
@@ -16,10 +18,18 @@ interface TextFieldProps {
  */
 export function TextField(props: TextFieldProps) {
   return (
-    <EuiFieldText
-      prepend={props.label}
-      compressed={false}
-      placeholder={props.placeholder || ''}
-    />
+    <Field name={`${props.componentId}.${props.field.name}`}>
+      {({ field, form }: FieldProps) => {
+        return (
+          <EuiFormRow label={props.field.label}>
+            <EuiFieldText
+              placeholder={props.field.placeholder || ''}
+              compressed={false}
+              {...field}
+            />
+          </EuiFormRow>
+        );
+      }}
+    </Field>
   );
 }
diff --git a/public/pages/workflow_detail/workspace/resizable_workspace.tsx b/public/pages/workflow_detail/workspace/resizable_workspace.tsx
index fb712e70..66415a91 100644
--- a/public/pages/workflow_detail/workspace/resizable_workspace.tsx
+++ b/public/pages/workflow_detail/workspace/resizable_workspace.tsx
@@ -3,10 +3,15 @@
  * SPDX-License-Identifier: Apache-2.0
  */
 
-import React, { useRef, useState } from 'react';
+import React, { useRef, useState, useEffect } from 'react';
 import { ReactFlowProvider } from 'reactflow';
-import { EuiResizableContainer } from '@elastic/eui';
-import { Workflow } from '../../../../common';
+import { Form, Formik } from 'formik';
+import { EuiButton, EuiResizableContainer } from '@elastic/eui';
+import {
+  Workflow,
+  WorkspaceFormValues,
+  componentDataToFormik,
+} from '../../../../common';
 import { Workspace } from './workspace';
 import { ComponentDetails } from '../component_details';
 
@@ -21,48 +26,78 @@ const COMPONENT_DETAILS_PANEL_ID = 'component_details_panel_id';
  * panels - the ReactFlow workspace panel and the selected component details panel.
  */
 export function ResizableWorkspace(props: ResizableWorkspaceProps) {
+  // Component details side panel state
   const [isOpen, setIsOpen] = useState<boolean>(true);
   const collapseFn = useRef(
     (id: string, options: { direction: 'left' | 'right' }) => {}
   );
-
   const onToggleChange = () => {
     collapseFn.current(COMPONENT_DETAILS_PANEL_ID, { direction: 'left' });
     setIsOpen(!isOpen);
   };
 
+  // Formik form state
+  const [formValues, setFormValues] = useState<WorkspaceFormValues>({});
+
+  // Initialize the form state to an existing workflow, if applicable.
+  useEffect(() => {
+    if (props.workflow?.workspaceFlowState) {
+      const nodes = props.workflow.workspaceFlowState.nodes;
+      const initFormValues = {} as WorkspaceFormValues;
+      nodes.forEach((node) => {
+        initFormValues[node.id] = componentDataToFormik(node.data);
+      });
+      setFormValues(initFormValues);
+    }
+  }, [props.workflow]);
+
   return (
-    <EuiResizableContainer
-      direction="horizontal"
-      style={{ marginLeft: '-14px' }}
+    <Formik
+      enableReinitialize={true}
+      initialValues={formValues}
+      onSubmit={(values) => {
+        console.log('values on submit: ', values);
+      }}
     >
-      {(EuiResizablePanel, EuiResizableButton, { togglePanel }) => {
-        if (togglePanel) {
-          collapseFn.current = (panelId: string, { direction }) =>
-            togglePanel(panelId, { direction });
-        }
+      {(formikProps) => (
+        <Form>
+          <EuiResizableContainer
+            direction="horizontal"
+            style={{ marginLeft: '-14px' }}
+          >
+            {(EuiResizablePanel, EuiResizableButton, { togglePanel }) => {
+              if (togglePanel) {
+                collapseFn.current = (panelId: string, { direction }) =>
+                  togglePanel(panelId, { direction });
+              }
 
-        return (
-          <ReactFlowProvider>
-            <EuiResizablePanel mode="main" initialSize={75} minSize="50%">
-              <Workspace workflow={props.workflow} />
-            </EuiResizablePanel>
-            <EuiResizableButton />
-            <EuiResizablePanel
-              id={COMPONENT_DETAILS_PANEL_ID}
-              mode="collapsible"
-              initialSize={25}
-              minSize="10%"
-              onToggleCollapsedInternal={() => onToggleChange()}
-            >
-              <ComponentDetails
-                onToggleChange={onToggleChange}
-                isOpen={isOpen}
-              />
-            </EuiResizablePanel>
-          </ReactFlowProvider>
-        );
-      }}
-    </EuiResizableContainer>
+              return (
+                <ReactFlowProvider>
+                  <EuiResizablePanel mode="main" initialSize={75} minSize="50%">
+                    <Workspace workflow={props.workflow} />
+                  </EuiResizablePanel>
+                  <EuiResizableButton />
+                  <EuiResizablePanel
+                    id={COMPONENT_DETAILS_PANEL_ID}
+                    mode="collapsible"
+                    initialSize={25}
+                    minSize="10%"
+                    onToggleCollapsedInternal={() => onToggleChange()}
+                  >
+                    <ComponentDetails
+                      onToggleChange={onToggleChange}
+                      isOpen={isOpen}
+                    />
+                  </EuiResizablePanel>
+                </ReactFlowProvider>
+              );
+            }}
+          </EuiResizableContainer>
+          <EuiButton onClick={() => formikProps.handleSubmit()}>
+            Submit
+          </EuiButton>
+        </Form>
+      )}
+    </Formik>
   );
 }
diff --git a/public/pages/workflow_detail/workspace/workspace.tsx b/public/pages/workflow_detail/workspace/workspace.tsx
index a3d7b5b6..f58f077d 100644
--- a/public/pages/workflow_detail/workspace/workspace.tsx
+++ b/public/pages/workflow_detail/workspace/workspace.tsx
@@ -95,6 +95,8 @@ export function Workspace(props: WorkspaceProps) {
         },
       };
 
+      // TODO: on node addition, need to update the formik initial state to include this
+      // new component.
       setNodes((nds) => nds.concat(newNode));
       dispatch(setDirty());
     },
diff --git a/public/pages/workflow_detail/workspace_component/workspace_component.tsx b/public/pages/workflow_detail/workspace_component/workspace_component.tsx
index 20d4953c..59041464 100644
--- a/public/pages/workflow_detail/workspace_component/workspace_component.tsx
+++ b/public/pages/workflow_detail/workspace_component/workspace_component.tsx
@@ -45,6 +45,8 @@ export function WorkspaceComponent(props: WorkspaceComponentProps) {
               iconType="trash"
               onClick={() => {
                 deleteNode(component.id);
+                // TODO: update the form to remove this node based on node ID.
+                // Can fetch & update the values using useFormikContext().
               }}
               aria-label="Delete"
             />
diff --git a/public/store/context/react_flow_context_provider.tsx b/public/store/context/react_flow_context_provider.tsx
index 8268a0c9..1b10eade 100644
--- a/public/store/context/react_flow_context_provider.tsx
+++ b/public/store/context/react_flow_context_provider.tsx
@@ -41,7 +41,6 @@ export function ReactFlowContextProvider({ children }: any) {
           (edge: Edge) => edge.source !== nodeId && edge.target !== nodeId
         )
     );
-
     dispatch(setDirty());
   };
 
diff --git a/public/utils/utils.ts b/public/utils/utils.ts
index bb79dcca..ac352951 100644
--- a/public/utils/utils.ts
+++ b/public/utils/utils.ts
@@ -35,7 +35,7 @@ export function initComponentData(
 
 // Converting stored values in component data to initial formik values
 export function componentDataToFormik(data: IComponentData): FormikValues {
-  let formikValues = {} as FormikValues;
+  const formikValues = {} as FormikValues;
   data.fields?.forEach((field) => {
     formikValues[field.name] = field.value || getInitialValue(field.type);
   });