diff --git a/packages/cli/BREAKING-CHANGES.md b/packages/cli/BREAKING-CHANGES.md
index 53e0577a53e29..7cc261a90e9a5 100644
--- a/packages/cli/BREAKING-CHANGES.md
+++ b/packages/cli/BREAKING-CHANGES.md
@@ -2,6 +2,20 @@
 
 This list shows all the versions which include breaking changes and how to upgrade.
 
+## 0.198.0
+
+### What changed?
+
+The Merge node list of operations was rearranged.
+
+### When is action necessary?
+
+If you are using the overhauled Merge node and 'Merge By Fields', 'Merge By Position' or 'Multiplex' operation.
+
+### How to upgrade:
+
+Go to the workflows that use the Merge node, select 'Combine' operation and then choose an option from 'Combination Mode' that matches an operation that was previously used. If you want to continue even on error, you can set "Continue on Fail" to true.
+
 ## 0.171.0
 
 ### What changed?
diff --git a/packages/nodes-base/nodes/Merge/v2/GenericFunctions.ts b/packages/nodes-base/nodes/Merge/v2/GenericFunctions.ts
index a5a34b1de30df..8c91967158d2d 100644
--- a/packages/nodes-base/nodes/Merge/v2/GenericFunctions.ts
+++ b/packages/nodes-base/nodes/Merge/v2/GenericFunctions.ts
@@ -35,6 +35,7 @@ type MultipleMatches = 'all' | 'first';
 export type MatchFieldsOutput = 'both' | 'input1' | 'input2';
 
 export type MatchFieldsJoinMode =
+	| 'keepEverything'
 	| 'keepMatches'
 	| 'keepNonMatches'
 	| 'enrichInput2'
@@ -294,12 +295,16 @@ export function selectMergeMethod(clashResolveOptions: ClashResolveOptions) {
 			}
 		}
 		if (mergeMode === 'deepMerge') {
-			return (target: IDataObject, ...source: IDataObject[]) =>
-				mergeWith(target, ...source, customizer);
+			return (target: IDataObject, ...source: IDataObject[]) => {
+				const targetCopy = Object.assign({}, target);
+				return mergeWith(targetCopy, ...source, customizer);
+			};
 		}
 		if (mergeMode === 'shallowMerge') {
-			return (target: IDataObject, ...source: IDataObject[]) =>
-				assignWith(target, ...source, customizer);
+			return (target: IDataObject, ...source: IDataObject[]) => {
+				const targetCopy = Object.assign({}, target);
+				return assignWith(targetCopy, ...source, customizer);
+			};
 		}
 	} else {
 		if (mergeMode === 'deepMerge') {
diff --git a/packages/nodes-base/nodes/Merge/v2/MergeV2.node.ts b/packages/nodes-base/nodes/Merge/v2/MergeV2.node.ts
index 296ed760ea188..942909e1731d1 100644
--- a/packages/nodes-base/nodes/Merge/v2/MergeV2.node.ts
+++ b/packages/nodes-base/nodes/Merge/v2/MergeV2.node.ts
@@ -49,13 +49,31 @@ const versionDescription: INodeTypeDescription = {
 			displayName: 'Mode',
 			name: 'mode',
 			type: 'options',
-			// eslint-disable-next-line n8n-nodes-base/node-param-options-type-unsorted-items
 			options: [
 				{
 					name: 'Append',
 					value: 'append',
 					description: 'All items of input 1, then all items of input 2',
 				},
+				{
+					name: 'Combine',
+					value: 'combine',
+					description: 'Merge matching items together',
+				},
+				{
+					name: 'Choose Branch',
+					value: 'chooseBranch',
+					description: 'Output input data, without modifying it',
+				},
+			],
+			default: 'append',
+			description: 'How data of branches should be merged',
+		},
+		{
+			displayName: 'Combination Mode',
+			name: 'combinationMode',
+			type: 'options',
+			options: [
 				{
 					name: 'Merge By Fields',
 					value: 'mergeByFields',
@@ -71,16 +89,14 @@ const versionDescription: INodeTypeDescription = {
 					value: 'multiplex',
 					description: 'All possible item combinations (cross join)',
 				},
-				{
-					name: 'Choose Branch',
-					value: 'chooseBranch',
-					description: 'Output input data, without modifying it',
-				},
 			],
-			default: 'append',
-			description: 'How data of branches should be merged',
+			default: 'mergeByFields',
+			displayOptions: {
+				show: {
+					mode: ['combine'],
+				},
+			},
 		},
-
 		// mergeByFields ------------------------------------------------------------------
 		{
 			displayName: 'Fields to Match',
@@ -119,7 +135,8 @@ const versionDescription: INodeTypeDescription = {
 			],
 			displayOptions: {
 				show: {
-					mode: ['mergeByFields'],
+					mode: ['combine'],
+					combinationMode: ['mergeByFields'],
 				},
 			},
 		},
@@ -127,6 +144,7 @@ const versionDescription: INodeTypeDescription = {
 			displayName: 'Output Type',
 			name: 'joinMode',
 			type: 'options',
+			// eslint-disable-next-line n8n-nodes-base/node-param-options-type-unsorted-items
 			options: [
 				{
 					name: 'Keep Matches',
@@ -136,7 +154,12 @@ const versionDescription: INodeTypeDescription = {
 				{
 					name: 'Keep Non-Matches',
 					value: 'keepNonMatches',
-					description: "Items that don't match (outer join)",
+					description: "Items that don't match",
+				},
+				{
+					name: 'Keep Everything',
+					value: 'keepEverything',
+					description: "Items that match merged together, plus items that don't match (outer join)",
 				},
 				{
 					name: 'Enrich Input 1',
@@ -152,7 +175,8 @@ const versionDescription: INodeTypeDescription = {
 			default: 'keepMatches',
 			displayOptions: {
 				show: {
-					mode: ['mergeByFields'],
+					mode: ['combine'],
+					combinationMode: ['mergeByFields'],
 				},
 			},
 		},
@@ -177,7 +201,8 @@ const versionDescription: INodeTypeDescription = {
 			default: 'both',
 			displayOptions: {
 				show: {
-					mode: ['mergeByFields'],
+					mode: ['combine'],
+					combinationMode: ['mergeByFields'],
 					joinMode: ['keepMatches'],
 				},
 			},
@@ -203,7 +228,8 @@ const versionDescription: INodeTypeDescription = {
 			default: 'both',
 			displayOptions: {
 				show: {
-					mode: ['mergeByFields'],
+					mode: ['combine'],
+					combinationMode: ['mergeByFields'],
 					joinMode: ['keepNonMatches'],
 				},
 			},
@@ -219,11 +245,6 @@ const versionDescription: INodeTypeDescription = {
 					name: 'Wait for Both Inputs to Arrive',
 					value: 'waitForBoth',
 				},
-				// not MVP
-				// {
-				// 	name: 'Immediately Pass the First Input to Arrive',
-				// 	value: 'passFirst',
-				// },
 			],
 			default: 'waitForBoth',
 			displayOptions: {
@@ -284,36 +305,116 @@ export class MergeV2 implements INodeType {
 			}
 		}
 
-		if (mode === 'multiplex') {
-			const clashHandling = this.getNodeParameter(
-				'options.clashHandling.values',
-				0,
-				{},
-			) as ClashResolveOptions;
+		if (mode === 'combine') {
+			const combinationMode = this.getNodeParameter('combinationMode', 0) as string;
 
-			let input1 = this.getInputData(0);
-			let input2 = this.getInputData(1);
+			if (combinationMode === 'multiplex') {
+				const clashHandling = this.getNodeParameter(
+					'options.clashHandling.values',
+					0,
+					{},
+				) as ClashResolveOptions;
 
-			if (clashHandling.resolveClash === 'preferInput1') {
-				[input1, input2] = [input2, input1];
-			}
+				let input1 = this.getInputData(0);
+				let input2 = this.getInputData(1);
 
-			if (clashHandling.resolveClash === 'addSuffix') {
-				input1 = addSuffixToEntriesKeys(input1, '1');
-				input2 = addSuffixToEntriesKeys(input2, '2');
-			}
+				if (clashHandling.resolveClash === 'preferInput1') {
+					[input1, input2] = [input2, input1];
+				}
+
+				if (clashHandling.resolveClash === 'addSuffix') {
+					input1 = addSuffixToEntriesKeys(input1, '1');
+					input2 = addSuffixToEntriesKeys(input2, '2');
+				}
 
-			const mergeIntoSingleObject = selectMergeMethod(clashHandling);
+				const mergeIntoSingleObject = selectMergeMethod(clashHandling);
 
-			if (!input1 || !input2) {
+				if (!input1 || !input2) {
+					return [returnData];
+				}
+
+				let entry1: INodeExecutionData;
+				let entry2: INodeExecutionData;
+
+				for (entry1 of input1) {
+					for (entry2 of input2) {
+						returnData.push({
+							json: {
+								...mergeIntoSingleObject(entry1.json, entry2.json),
+							},
+							binary: {
+								...merge({}, entry1.binary, entry2.binary),
+							},
+							pairedItem: [
+								entry1.pairedItem as IPairedItemData,
+								entry2.pairedItem as IPairedItemData,
+							],
+						});
+					}
+				}
 				return [returnData];
 			}
 
-			let entry1: INodeExecutionData;
-			let entry2: INodeExecutionData;
+			if (combinationMode === 'mergeByPosition') {
+				const clashHandling = this.getNodeParameter(
+					'options.clashHandling.values',
+					0,
+					{},
+				) as ClashResolveOptions;
+				const includeUnpaired = this.getNodeParameter(
+					'options.includeUnpaired',
+					0,
+					false,
+				) as boolean;
+
+				let input1 = this.getInputData(0);
+				let input2 = this.getInputData(1);
+
+				if (clashHandling.resolveClash === 'preferInput1') {
+					[input1, input2] = [input2, input1];
+				}
+
+				if (clashHandling.resolveClash === 'addSuffix') {
+					input1 = addSuffixToEntriesKeys(input1, '1');
+					input2 = addSuffixToEntriesKeys(input2, '2');
+				}
+
+				if (input1 === undefined || input1.length === 0) {
+					if (includeUnpaired) {
+						return [input2];
+					}
+					return [returnData];
+				}
+
+				if (input2 === undefined || input2.length === 0) {
+					if (includeUnpaired) {
+						return [input1];
+					}
+					return [returnData];
+				}
+
+				let numEntries: number;
+				if (includeUnpaired) {
+					numEntries = Math.max(input1.length, input2.length);
+				} else {
+					numEntries = Math.min(input1.length, input2.length);
+				}
+
+				const mergeIntoSingleObject = selectMergeMethod(clashHandling);
+
+				for (let i = 0; i < numEntries; i++) {
+					if (i >= input1.length) {
+						returnData.push(input2[i]);
+						continue;
+					}
+					if (i >= input2.length) {
+						returnData.push(input1[i]);
+						continue;
+					}
+
+					const entry1 = input1[i];
+					const entry2 = input2[i];
 
-			for (entry1 of input1) {
-				for (entry2 of input2) {
 					returnData.push({
 						json: {
 							...mergeIntoSingleObject(entry1.json, entry2.json),
@@ -328,162 +429,115 @@ export class MergeV2 implements INodeType {
 					});
 				}
 			}
-			return [returnData];
-		}
-
-		if (mode === 'mergeByPosition') {
-			const clashHandling = this.getNodeParameter(
-				'options.clashHandling.values',
-				0,
-				{},
-			) as ClashResolveOptions;
-			const includeUnpaired = this.getNodeParameter('options.includeUnpaired', 0, false) as boolean;
-
-			let input1 = this.getInputData(0);
-			let input2 = this.getInputData(1);
 
-			if (clashHandling.resolveClash === 'preferInput1') {
-				[input1, input2] = [input2, input1];
-			}
-
-			if (clashHandling.resolveClash === 'addSuffix') {
-				input1 = addSuffixToEntriesKeys(input1, '1');
-				input2 = addSuffixToEntriesKeys(input2, '2');
-			}
+			if (combinationMode === 'mergeByFields') {
+				const matchFields = checkMatchFieldsInput(
+					this.getNodeParameter('mergeByFields.values', 0, []) as IDataObject[],
+				);
 
-			if (input1 === undefined || input1.length === 0) {
-				if (includeUnpaired) {
-					return [input2];
-				}
-				return [returnData];
-			}
-
-			if (input2 === undefined || input2.length === 0) {
-				if (includeUnpaired) {
+				const joinMode = this.getNodeParameter('joinMode', 0) as MatchFieldsJoinMode;
+				const outputDataFrom = this.getNodeParameter(
+					'outputDataFrom',
+					0,
+					'both',
+				) as MatchFieldsOutput;
+				const options = this.getNodeParameter('options', 0, {}) as MatchFieldsOptions;
+
+				options.joinMode = joinMode;
+				options.outputDataFrom = outputDataFrom;
+
+				const input1 = checkInput(
+					this.getInputData(0),
+					matchFields.map((pair) => pair.field1 as string),
+					(options.disableDotNotation as boolean) || false,
+					'Input 1',
+				);
+				if (!input1) return [returnData];
+
+				const input2 = checkInput(
+					this.getInputData(1),
+					matchFields.map((pair) => pair.field2 as string),
+					(options.disableDotNotation as boolean) || false,
+					'Input 2',
+				);
+
+				if (!input2 || !matchFields.length) {
+					if (
+						joinMode === 'keepMatches' ||
+						joinMode === 'keepEverything' ||
+						joinMode === 'enrichInput2'
+					) {
+						return [returnData];
+					}
 					return [input1];
 				}
-				return [returnData];
-			}
-
-			let numEntries: number;
-			if (includeUnpaired) {
-				numEntries = Math.max(input1.length, input2.length);
-			} else {
-				numEntries = Math.min(input1.length, input2.length);
-			}
 
-			const mergeIntoSingleObject = selectMergeMethod(clashHandling);
-
-			for (let i = 0; i < numEntries; i++) {
-				if (i >= input1.length) {
-					returnData.push(input2[i]);
-					continue;
-				}
-				if (i >= input2.length) {
-					returnData.push(input1[i]);
-					continue;
-				}
+				const matches = findMatches(input1, input2, matchFields, options);
 
-				const entry1 = input1[i];
-				const entry2 = input2[i];
-
-				returnData.push({
-					json: {
-						...mergeIntoSingleObject(entry1.json, entry2.json),
-					},
-					binary: {
-						...merge({}, entry1.binary, entry2.binary),
-					},
-					pairedItem: [entry1.pairedItem as IPairedItemData, entry2.pairedItem as IPairedItemData],
-				});
-			}
-		}
-
-		if (mode === 'mergeByFields') {
-			const matchFields = checkMatchFieldsInput(
-				this.getNodeParameter('mergeByFields.values', 0, []) as IDataObject[],
-			);
-
-			const joinMode = this.getNodeParameter('joinMode', 0) as MatchFieldsJoinMode;
-			const outputDataFrom = this.getNodeParameter('outputDataFrom', 0, '') as MatchFieldsOutput;
-			const options = this.getNodeParameter('options', 0, {}) as MatchFieldsOptions;
-
-			options.joinMode = joinMode;
-			options.outputDataFrom = outputDataFrom;
-
-			const input1 = checkInput(
-				this.getInputData(0),
-				matchFields.map((pair) => pair.field1 as string),
-				(options.disableDotNotation as boolean) || false,
-				'Input 1',
-			);
-			if (!input1) return [returnData];
-
-			const input2 = checkInput(
-				this.getInputData(1),
-				matchFields.map((pair) => pair.field2 as string),
-				(options.disableDotNotation as boolean) || false,
-				'Input 2',
-			);
-
-			if (!input2 || !matchFields.length) {
-				if (joinMode === 'keepMatches' || joinMode === 'enrichInput2') {
-					return [returnData];
-				}
-				return [input1];
-			}
-
-			const matches = findMatches(input1, input2, matchFields, options);
-
-			if (joinMode === 'keepMatches') {
-				if (outputDataFrom === 'input1') {
-					return [matches.matched.map((match) => match.entry)];
-				}
-				if (outputDataFrom === 'input2') {
-					return [matches.matched2];
-				}
-				if (outputDataFrom === 'both') {
+				if (joinMode === 'keepMatches' || joinMode === 'keepEverything') {
+					let output: INodeExecutionData[] = [];
 					const clashResolveOptions = this.getNodeParameter(
 						'options.clashHandling.values',
 						0,
 						{},
 					) as ClashResolveOptions;
 
-					const mergedEntries = mergeMatched(matches.matched, clashResolveOptions);
-
-					returnData.push(...mergedEntries);
+					if (outputDataFrom === 'input1') {
+						output = matches.matched.map((match) => match.entry);
+					}
+					if (outputDataFrom === 'input2') {
+						output = matches.matched2;
+					}
+					if (outputDataFrom === 'both') {
+						output = mergeMatched(matches.matched, clashResolveOptions);
+					}
+
+					if (joinMode === 'keepEverything') {
+						let unmatched1 = matches.unmatched1;
+						let unmatched2 = matches.unmatched2;
+						if (clashResolveOptions.resolveClash === 'addSuffix') {
+							unmatched1 = addSuffixToEntriesKeys(unmatched1, '1');
+							unmatched2 = addSuffixToEntriesKeys(unmatched2, '2');
+						}
+						output = [...output, ...unmatched1, ...unmatched2];
+					}
+
+					returnData.push(...output);
 				}
-			}
 
-			if (joinMode === 'keepNonMatches') {
-				if (outputDataFrom === 'input1') {
-					return [matches.unmatched1];
-				}
-				if (outputDataFrom === 'input2') {
-					return [matches.unmatched2];
+				if (joinMode === 'keepNonMatches') {
+					if (outputDataFrom === 'input1') {
+						return [matches.unmatched1];
+					}
+					if (outputDataFrom === 'input2') {
+						return [matches.unmatched2];
+					}
+					if (outputDataFrom === 'both') {
+						let output: INodeExecutionData[] = [];
+						output = output.concat(addSourceField(matches.unmatched1, 'input1'));
+						output = output.concat(addSourceField(matches.unmatched2, 'input2'));
+						return [output];
+					}
 				}
-				if (outputDataFrom === 'both') {
-					let output: INodeExecutionData[] = [];
-					output = output.concat(addSourceField(matches.unmatched1, 'input1'));
-					output = output.concat(addSourceField(matches.unmatched2, 'input2'));
-					return [output];
-				}
-			}
-
-			if (joinMode === 'enrichInput1' || joinMode === 'enrichInput2') {
-				const clashResolveOptions = this.getNodeParameter(
-					'options.clashHandling.values',
-					0,
-					{},
-				) as ClashResolveOptions;
 
-				const mergedEntries = mergeMatched(matches.matched, clashResolveOptions, joinMode);
+				if (joinMode === 'enrichInput1' || joinMode === 'enrichInput2') {
+					const clashResolveOptions = this.getNodeParameter(
+						'options.clashHandling.values',
+						0,
+						{},
+					) as ClashResolveOptions;
 
-				if (clashResolveOptions.resolveClash === 'addSuffix') {
-					const suffix = joinMode === 'enrichInput1' ? '1' : '2';
-					returnData.push(...mergedEntries, ...addSuffixToEntriesKeys(matches.unmatched1, suffix));
-				} else {
-					returnData.push(...mergedEntries, ...matches.unmatched1);
+					const mergedEntries = mergeMatched(matches.matched, clashResolveOptions, joinMode);
+
+					if (clashResolveOptions.resolveClash === 'addSuffix') {
+						const suffix = joinMode === 'enrichInput1' ? '1' : '2';
+						returnData.push(
+							...mergedEntries,
+							...addSuffixToEntriesKeys(matches.unmatched1, suffix),
+						);
+					} else {
+						returnData.push(...mergedEntries, ...matches.unmatched1);
+					}
 				}
 			}
 		}
diff --git a/packages/nodes-base/nodes/Merge/v2/OptionsDescription.ts b/packages/nodes-base/nodes/Merge/v2/OptionsDescription.ts
index ea2b6099cf069..f0118be450a04 100644
--- a/packages/nodes-base/nodes/Merge/v2/OptionsDescription.ts
+++ b/packages/nodes-base/nodes/Merge/v2/OptionsDescription.ts
@@ -87,7 +87,8 @@ export const optionsDescription: INodeProperties[] = [
 				...clashHandlingProperties,
 				displayOptions: {
 					show: {
-						'/mode': ['mergeByFields'],
+						'/mode': ['combine'],
+						'/combinationMode': ['mergeByFields'],
 					},
 					hide: {
 						'/joinMode': ['keepMatches', 'keepNonMatches'],
@@ -98,7 +99,8 @@ export const optionsDescription: INodeProperties[] = [
 				...clashHandlingProperties,
 				displayOptions: {
 					show: {
-						'/mode': ['mergeByFields'],
+						'/mode': ['combine'],
+						'/combinationMode': ['mergeByFields'],
 						'/joinMode': ['keepMatches'],
 						'/outputDataFrom': ['both'],
 					},
@@ -108,7 +110,8 @@ export const optionsDescription: INodeProperties[] = [
 				...clashHandlingProperties,
 				displayOptions: {
 					show: {
-						'/mode': ['multiplex', 'mergeByPosition'],
+						'/mode': ['combine'],
+						'/combinationMode': ['multiplex', 'mergeByPosition'],
 					},
 				},
 			},
@@ -121,7 +124,8 @@ export const optionsDescription: INodeProperties[] = [
 					'Whether to disallow referencing child fields using `parent.child` in the field name',
 				displayOptions: {
 					show: {
-						'/mode': ['mergeByFields'],
+						'/mode': ['combine'],
+						'/combinationMode': ['mergeByFields'],
 					},
 				},
 			},
@@ -135,7 +139,8 @@ export const optionsDescription: INodeProperties[] = [
 					'If there are different numbers of items in input 1 and input 2, whether to include the ones at the end with nothing to pair with',
 				displayOptions: {
 					show: {
-						'/mode': ['mergeByPosition'],
+						'/mode': ['combine'],
+						'/combinationMode': ['mergeByPosition'],
 					},
 				},
 			},
@@ -158,7 +163,8 @@ export const optionsDescription: INodeProperties[] = [
 				],
 				displayOptions: {
 					show: {
-						'/mode': ['mergeByFields'],
+						'/mode': ['combine'],
+						'/combinationMode': ['mergeByFields'],
 						'/joinMode': ['keepMatches'],
 						'/outputDataFrom': ['both'],
 					},
@@ -183,8 +189,9 @@ export const optionsDescription: INodeProperties[] = [
 				],
 				displayOptions: {
 					show: {
-						'/mode': ['mergeByFields'],
-						'/joinMode': ['enrichInput1', 'enrichInput2'],
+						'/mode': ['combine'],
+						'/combinationMode': ['mergeByFields'],
+						'/joinMode': ['enrichInput1', 'enrichInput2', 'keepEverything'],
 					},
 				},
 			},