diff --git a/app/brave_generated_resources.grd b/app/brave_generated_resources.grd
index cd2e08eb564..009f2e5a473 100644
--- a/app/brave_generated_resources.grd
+++ b/app/brave_generated_resources.grd
@@ -1189,6 +1189,15 @@ By installing this extension, you are agreeing to the Google Widevine Terms of U
         <message name="IDS_PAGE_IS_DISTILLED" desc="Speedreader is enabled on this page">
           in Speedreader
         </message>
+        <message name="IDS_SPEEDREADER_ICON_TURN_OFF_READER_MODE" desc="Accessible text shown when a page is in Reader Mode">
+          Turn off reader mode
+        </message>
+        <message name="IDS_SPEEDREADER_ICON_TURN_ON_READER_MODE" desc="Accessible text shown when a page can be distilled">
+          Turn on reader mode
+        </message>
+        <message name="IDS_SPEEDREADER_ICON_SPEEDREADER_SETTINGS" desc="Accessible text shown when a page is in Speedreader Mode">
+          Speedreader settings
+        </message>
       </if>
 
       <!-- Stats -->
diff --git a/browser/speedreader/speedreader_tab_helper.h b/browser/speedreader/speedreader_tab_helper.h
index 31f18cfd879..52c1f33b127 100644
--- a/browser/speedreader/speedreader_tab_helper.h
+++ b/browser/speedreader/speedreader_tab_helper.h
@@ -24,6 +24,9 @@ class SpeedreaderTabHelper
       public content::WebContentsUserData<SpeedreaderTabHelper> {
  public:
   enum class DistillState {
+    // Used as an initialization state
+    kUnknown,
+
     // The web contents is not distilled
     kNone,
 
diff --git a/browser/ui/views/speedreader/speedreader_icon_view.cc b/browser/ui/views/speedreader/speedreader_icon_view.cc
index e2aa5543102..029d1a414ad 100644
--- a/browser/ui/views/speedreader/speedreader_icon_view.cc
+++ b/browser/ui/views/speedreader/speedreader_icon_view.cc
@@ -27,8 +27,6 @@
 #include "ui/views/animation/ink_drop_host_view.h"
 #include "ui/views/animation/ink_drop_state.h"
 
-using DistillState = speedreader::SpeedreaderTabHelper::DistillState;
-
 SpeedreaderIconView::SpeedreaderIconView(
     CommandUpdater* command_updater,
     IconLabelBubbleView::Delegate* icon_label_bubble_delegate,
@@ -58,15 +56,8 @@ void SpeedreaderIconView::UpdateImpl() {
   if (ink_drop()->GetHighlighted() && !IsBubbleShowing())
     ink_drop()->AnimateToState(views::InkDropState::HIDDEN, nullptr);
 
-  auto* tab_helper =
-      speedreader::SpeedreaderTabHelper::FromWebContents(contents);
-  if (!tab_helper) {
-    SetVisible(false);
-    return;
-  }
-
   const ui::ThemeProvider* theme_provider = GetThemeProvider();
-  const DistillState state = tab_helper->PageDistillState();
+  const DistillState state = GetDistillState();
   const bool is_distilled =
       speedreader::SpeedreaderTabHelper::PageStateIsDistilled(state);
 
@@ -99,16 +90,7 @@ void SpeedreaderIconView::UpdateImpl() {
 }
 
 const gfx::VectorIcon& SpeedreaderIconView::GetVectorIcon() const {
-  auto* web_contents = GetWebContents();
-  if (!web_contents)
-    return kBraveReaderModeIcon;
-
-  auto* tab_helper =
-      speedreader::SpeedreaderTabHelper::FromWebContents(web_contents);
-  if (!tab_helper)
-    return kBraveReaderModeIcon;
-
-  const DistillState state = tab_helper->PageDistillState();
+  const DistillState state = GetDistillState();
   if (state == DistillState::kSpeedreaderMode ||
       state == DistillState::kSpeedreaderOnDisabledPage) {
     return kBraveSpeedreaderModeIcon;
@@ -118,8 +100,20 @@ const gfx::VectorIcon& SpeedreaderIconView::GetVectorIcon() const {
 }
 
 std::u16string SpeedreaderIconView::GetTextForTooltipAndAccessibleName() const {
-  return l10n_util::GetStringUTF16(GetActive() ? IDS_EXIT_DISTILLED_PAGE
-                                               : IDS_DISTILL_PAGE);
+  int id;
+  const DistillState state = GetDistillState();
+  switch (state) {
+    case DistillState::kSpeedreaderMode:
+    case DistillState::kSpeedreaderOnDisabledPage:
+      id = IDS_SPEEDREADER_ICON_SPEEDREADER_SETTINGS;
+      break;
+    case DistillState::kReaderMode:
+      id = IDS_SPEEDREADER_ICON_TURN_OFF_READER_MODE;
+      break;
+    default:
+      id = IDS_SPEEDREADER_ICON_TURN_ON_READER_MODE;
+  }
+  return l10n_util::GetStringUTF16(id);
 }
 
 void SpeedreaderIconView::OnExecuting(
@@ -139,5 +133,17 @@ views::BubbleDialogDelegate* SpeedreaderIconView::GetBubble() const {
       tab_helper->speedreader_bubble_view());
 }
 
+DistillState SpeedreaderIconView::GetDistillState() const {
+  DistillState state = DistillState::kUnknown;
+  auto* web_contents = GetWebContents();
+  if (web_contents) {
+    auto* tab_helper =
+        speedreader::SpeedreaderTabHelper::FromWebContents(web_contents);
+    if (tab_helper)
+      state = tab_helper->PageDistillState();
+  }
+  return state;
+}
+
 BEGIN_METADATA(SpeedreaderIconView, PageActionIconView)
 END_METADATA
diff --git a/browser/ui/views/speedreader/speedreader_icon_view.h b/browser/ui/views/speedreader/speedreader_icon_view.h
index 3b85f013cbe..5a31953af08 100644
--- a/browser/ui/views/speedreader/speedreader_icon_view.h
+++ b/browser/ui/views/speedreader/speedreader_icon_view.h
@@ -6,10 +6,13 @@
 #ifndef BRAVE_BROWSER_UI_VIEWS_SPEEDREADER_SPEEDREADER_ICON_VIEW_H_
 #define BRAVE_BROWSER_UI_VIEWS_SPEEDREADER_SPEEDREADER_ICON_VIEW_H_
 
+#include "brave/browser/speedreader/speedreader_tab_helper.h"
 #include "chrome/browser/ui/views/page_action/page_action_icon_view.h"
 #include "content/public/browser/web_contents_observer.h"
 #include "ui/base/metadata/metadata_header_macros.h"
 
+using DistillState = speedreader::SpeedreaderTabHelper::DistillState;
+
 namespace content {
 class NavigationHandle;
 }  // namespace content
@@ -34,6 +37,8 @@ class SpeedreaderIconView : public PageActionIconView {
   views::BubbleDialogDelegate* GetBubble() const override;
   std::u16string GetTextForTooltipAndAccessibleName() const override;
   void UpdateImpl() override;
+ private:
+  DistillState GetDistillState() const;
 };
 
 #endif  // BRAVE_BROWSER_UI_VIEWS_SPEEDREADER_SPEEDREADER_ICON_VIEW_H_