diff --git a/src/Printer/Printer.php b/src/Printer/Printer.php
index db7d3db7..00060544 100644
--- a/src/Printer/Printer.php
+++ b/src/Printer/Printer.php
@@ -69,6 +69,7 @@
 use PHPStan\PhpDocParser\Parser\TokenIterator;
 use function array_keys;
 use function array_map;
+use function array_shift;
 use function assert;
 use function count;
 use function get_class;
@@ -77,6 +78,8 @@
 use function in_array;
 use function is_array;
 use function preg_match_all;
+use function preg_split;
+use function rtrim;
 use function sprintf;
 use function str_replace;
 use function strlen;
@@ -96,6 +99,12 @@ final class Printer
 	/** @var Differ<Node> */
 	private Differ $differ;
 
+	/**
+	 * Inserted before every continuation line of multi-line text inside a printed PhpDocTextNode or tag value.
+	 * printFormatPreserving() sets it to the indentation detected in the original PHPDoc.
+	 */
+	private string $continuationLinePrefix = "\n * ";
+
 	/**
 	 * Map From "{$class}->{$subNode}" to string that should be inserted
 	 * between elements of this list subnode
@@ -187,14 +196,18 @@ public function printFormatPreserving(PhpDocNode $node, PhpDocNode $originalNode
 		});
 
 		$tokenIndex = 0;
-		$result = $this->printArrayFormatPreserving(
-			$node->children,
-			$originalNode->children,
-			$originalTokens,
-			$tokenIndex,
-			PhpDocNode::class,
-			'children',
-		);
+		try {
+			$result = $this->printArrayFormatPreserving(
+				$node->children,
+				$originalNode->children,
+				$originalTokens,
+				$tokenIndex,
+				PhpDocNode::class,
+				'children',
+			);
+		} finally {
+			$this->continuationLinePrefix = "\n * ";
+		}
 		if ($result !== null) {
 			return $result . $originalTokens->getContentBetween($tokenIndex, $originalTokens->getTokenCount());
 		}
@@ -214,7 +227,7 @@ function (PhpDocChildNode $child): string {
 			)) . "\n */";
 		}
 		if ($node instanceof PhpDocTextNode) {
-			return $node->text;
+			return $this->printMultilineText($node->text);
 		}
 		if ($node instanceof PhpDocTagNode) {
 			if ($node->value instanceof DoctrineTagValueNode) {
@@ -224,7 +237,7 @@ function (PhpDocChildNode $child): string {
 			return trim(sprintf('%s %s', $node->name, $this->print($node->value)));
 		}
 		if ($node instanceof PhpDocTagValueNode) {
-			return $this->printTagValue($node);
+			return $this->printMultilineText($this->printTagValue($node));
 		}
 		if ($node instanceof TypeNode) {
 			return $this->printType($node);
@@ -292,6 +305,25 @@ function (PhpDocChildNode $child): string {
 		throw new LogicException(sprintf('Unknown node type %s', get_class($node)));
 	}
 
+	private function printMultilineText(string $text): string
+	{
+		if (strpos($text, "\n") === false) {
+			return $text;
+		}
+
+		$lines = preg_split('~\r?\n~', $text);
+		if ($lines === false) {
+			return $text;
+		}
+
+		$result = array_shift($lines);
+		foreach ($lines as $line) {
+			$result .= $line === '' ? rtrim($this->continuationLinePrefix) : $this->continuationLinePrefix . $line;
+		}
+
+		return $result;
+	}
+
 	private function printTagValue(PhpDocTagValueNode $node): string
 	{
 		// only nodes that contain another node are handled here
@@ -590,6 +622,8 @@ private function printArrayFormatPreserving(array $nodes, array $originalNodes,
 
 		if ($insertStr === "\n * ") {
 			$insertStr = sprintf('%s%s*%s', $originalTokens->getDetectedNewline() ?? "\n", $beforeAsteriskIndent, $afterAsteriskIndent);
+			// the lexer strips exactly one space after the asterisk, any further indentation stays in the text
+			$this->continuationLinePrefix = sprintf('%s%s* ', $originalTokens->getDetectedNewline() ?? "\n", $beforeAsteriskIndent);
 		}
 
 		foreach ($diff as $i => $diffElem) {
diff --git a/tests/PHPStan/Printer/PrinterTest.php b/tests/PHPStan/Printer/PrinterTest.php
index 3f791927..70ef7ff1 100644
--- a/tests/PHPStan/Printer/PrinterTest.php
+++ b/tests/PHPStan/Printer/PrinterTest.php
@@ -24,6 +24,7 @@
 use PHPStan\PhpDocParser\Ast\PhpDoc\ParamTagValueNode;
 use PHPStan\PhpDocParser\Ast\PhpDoc\PhpDocNode;
 use PHPStan\PhpDocParser\Ast\PhpDoc\PhpDocTagNode;
+use PHPStan\PhpDocParser\Ast\PhpDoc\PhpDocTextNode;
 use PHPStan\PhpDocParser\Ast\PhpDoc\PureUnlessCallableIsImpureTagValueNode;
 use PHPStan\PhpDocParser\Ast\PhpDoc\PureUnlessParameterIsPassedTagValueNode;
 use PHPStan\PhpDocParser\Ast\PhpDoc\ReturnTagValueNode;
@@ -2690,6 +2691,88 @@ public function enterNode(Node $node)
 				 */'),
 			$addCommentToObjectShapeItemMiddle,
 		];
+		$changeMultilineText = new class extends AbstractNodeVisitor {
+
+			public function enterNode(Node $node)
+			{
+				if ($node instanceof PhpDocTextNode) {
+					$node->text = str_replace('Foo', 'Bar', $node->text);
+				}
+				if ($node instanceof ParamTagValueNode) {
+					$node->description = str_replace('Foo', 'Bar', $node->description);
+				}
+
+				return $node;
+			}
+
+		};
+
+		yield [
+			self::nowdoc('
+				/**
+				 * First line Foo
+				 * second line Foo
+				 *
+				 * Third line Foo
+				 *
+				 * @param int $a Foo description
+				 *   continues Foo
+				 * @param int $b
+				 */'),
+			self::nowdoc('
+				/**
+				 * First line Bar
+				 * second line Bar
+				 *
+				 * Third line Bar
+				 *
+				 * @param int $a Bar description
+				 *   continues Bar
+				 * @param int $b
+				 */'),
+			$changeMultilineText,
+		];
+
+		yield [
+			self::nowdoc('
+				/**
+				     * First line Foo
+				     * second line Foo
+				     */'),
+			self::nowdoc('
+				/**
+				     * First line Bar
+				     * second line Bar
+				     */'),
+			$changeMultilineText,
+		];
+
+		$addMultilineText = new class extends AbstractNodeVisitor {
+
+			public function enterNode(Node $node)
+			{
+				if ($node instanceof PhpDocNode) {
+					array_unshift($node->children, new PhpDocTextNode("Added first\nadded second"));
+				}
+
+				return $node;
+			}
+
+		};
+
+		yield [
+			self::nowdoc('
+				/**
+				 * @param int $a
+				 */'),
+			self::nowdoc('
+				/**
+				 * Added first
+				 * added second
+				 * @param int $a
+				 */'),
+			$addMultilineText,
+		];
 	}
 
 	/**
@@ -2951,6 +3034,28 @@ public function dataPrintPhpDocNode(): iterable
 			]),
 			'/**
  * @param int $a
+ */',
+		];
+		yield [
+			new PhpDocNode([
+				new PhpDocTextNode("First line\nsecond line\n\nthird line"),
+				new PhpDocTextNode(''),
+				new PhpDocTagNode('@param', new ParamTagValueNode(
+					new IdentifierTypeNode('int'),
+					false,
+					'$a',
+					"description\n  continues",
+					false,
+				)),
+			]),
+			'/**
+ * First line
+ * second line
+ *
+ * third line
+ *
+ * @param int $a description
+ *   continues
  */',
 		];
 	}