diff --git a/src/app/directives/grafanaGraph.js b/src/app/directives/grafanaGraph.js
index 1affce16e5c..6004b6e366c 100755
--- a/src/app/directives/grafanaGraph.js
+++ b/src/app/directives/grafanaGraph.js
@@ -212,6 +212,10 @@ function (angular, $, kbn, moment, _) {
             if (override.linewidth !== void 0) { series.lines.lineWidth = override.linewidth; }
             if (override.pointradius !== void 0) { series.points.radius = override.pointradius; }
             if (override.steppedLine !== void 0) { series.lines.steps = override.steppedLine; }
+            if (override.yaxis !== void 0) {
+              series.yaxis = override.yaxis;
+              series.info.yaxis = override.yaxis;
+            }
           }
         }
 
diff --git a/src/app/panels/graph/module.js b/src/app/panels/graph/module.js
index b0de8f190c7..6897cc090b0 100644
--- a/src/app/panels/graph/module.js
+++ b/src/app/panels/graph/module.js
@@ -166,7 +166,6 @@ function (angular, app, $, _, kbn, moment, TimeSeries) {
       targets: [{}],
 
       aliasColors: {},
-      aliasYAxis: {},
 
       seriesOverrides: [],
     };
@@ -247,13 +246,10 @@ function (angular, app, $, _, kbn, moment, TimeSeries) {
       var datapoints = seriesData.datapoints;
       var alias = seriesData.target;
       var color = $scope.panel.aliasColors[alias] || $rootScope.colors[index];
-      var yaxis = $scope.panel.aliasYAxis[alias] || 1;
 
       var seriesInfo = {
         alias: alias,
         color:  color,
-        enable: true,
-        yaxis: yaxis
       };
 
       $scope.legend.push(seriesInfo);
@@ -336,8 +332,12 @@ function (angular, app, $, _, kbn, moment, TimeSeries) {
     };
 
     $scope.toggleYAxis = function(info) {
-      info.yaxis = info.yaxis === 2 ? 1 : 2;
-      $scope.panel.aliasYAxis[info.alias] = info.yaxis;
+      var override = _.findWhere($scope.panel.seriesOverrides, { alias: info.alias });
+      if (!override) {
+        override = { alias: info.alias };
+        $scope.panel.seriesOverrides.push(override);
+      }
+      override.yaxis = info.yaxis === 2 ? 1 : 2;
       $scope.render();
     };
 
diff --git a/src/app/panels/graph/seriesOverridesCtrl.js b/src/app/panels/graph/seriesOverridesCtrl.js
index 0d7f3b4838d..4616e6ac1f8 100644
--- a/src/app/panels/graph/seriesOverridesCtrl.js
+++ b/src/app/panels/graph/seriesOverridesCtrl.js
@@ -65,6 +65,7 @@ define([
     $scope.addOverrideOption('Points', 'points', [true, false]);
     $scope.addOverrideOption('Points Radius', 'pointradius', [1,2,3,4,5]);
     $scope.addOverrideOption('Stack', 'stack', [true, false]);
+    $scope.addOverrideOption('Y-axis', 'yaxis', [1, 2]);
     $scope.updateCurrentOverrides();
 
   });
diff --git a/src/app/services/dashboard/dashboardSrv.js b/src/app/services/dashboard/dashboardSrv.js
index ff1e149c3b7..f2d67bf1839 100644
--- a/src/app/services/dashboard/dashboardSrv.js
+++ b/src/app/services/dashboard/dashboardSrv.js
@@ -144,80 +144,97 @@ function (angular, $, kbn, _, moment) {
     };
 
     p.updateSchema = function(old) {
-      var i, j, row, panel;
       var oldVersion = this.version;
-      this.version = 3;
+      var panelUpgrades = [];
+      this.version = 4;
 
-      if (oldVersion === 3) {
+      if (oldVersion === 4) {
         return;
       }
 
-      // Version 3 schema changes
-      // ensure panel ids
-      var maxId = this.getNextPanelId();
-      for (i = 0; i < this.rows.length; i++) {
-        row = this.rows[i];
-        for (j = 0; j < row.panels.length; j++) {
-          panel = row.panels[j];
-          if (!panel.id) {
-            panel.id = maxId;
-            maxId += 1;
+      // version 2 schema changes
+      if (oldVersion < 2) {
+
+        if (old.services) {
+          if (old.services.filter) {
+            this.time = old.services.filter.time;
+            this.templating.list = old.services.filter.list;
           }
+          delete this.services;
         }
-      }
 
-      if (oldVersion === 2) {
-        return;
-      }
-
-      // Version 2 schema changes
-      if (old.services) {
-        if (old.services.filter) {
-          this.time = old.services.filter.time;
-          this.templating.list = old.services.filter.list;
-        }
-        delete this.services;
-      }
-
-      for (i = 0; i < this.rows.length; i++) {
-        row = this.rows[i];
-        for (j = 0; j < row.panels.length; j++) {
-          panel = row.panels[j];
+        panelUpgrades.push(function(panel) {
+          // rename panel type
           if (panel.type === 'graphite') {
             panel.type = 'graph';
           }
 
-          if (panel.type === 'graph') {
-            if (_.isBoolean(panel.legend)) {
-              panel.legend = { show: panel.legend };
+          if (panel.type !== 'graph') {
+            return;
+          }
+
+          if (_.isBoolean(panel.legend)) { panel.legend = { show: panel.legend }; }
+
+          if (panel.grid) {
+            if (panel.grid.min) {
+              panel.grid.leftMin = panel.grid.min;
+              delete panel.grid.min;
             }
 
-            if (panel.grid) {
-              if (panel.grid.min) {
-                panel.grid.leftMin = panel.grid.min;
-                delete panel.grid.min;
-              }
-
-              if (panel.grid.max) {
-                panel.grid.leftMax = panel.grid.max;
-                delete panel.grid.max;
-              }
+            if (panel.grid.max) {
+              panel.grid.leftMax = panel.grid.max;
+              delete panel.grid.max;
             }
+          }
 
-            if (panel.y_format) {
-              panel.y_formats[0] = panel.y_format;
-              delete panel.y_format;
-            }
+          if (panel.y_format) {
+            panel.y_formats[0] = panel.y_format;
+            delete panel.y_format;
+          }
 
-            if (panel.y2_format) {
-              panel.y_formats[1] = panel.y2_format;
-              delete panel.y2_format;
-            }
+          if (panel.y2_format) {
+            panel.y_formats[1] = panel.y2_format;
+            delete panel.y2_format;
+          }
+        });
+      }
+
+      // schema version 3 changes
+      if (oldVersion < 3) {
+        // ensure panel ids
+        var maxId = this.getNextPanelId();
+        panelUpgrades.push(function(panel) {
+          if (!panel.id) {
+            panel.id = maxId;
+            maxId += 1;
+          }
+        });
+      }
+
+      // schema version 4 changes
+      if (oldVersion < 4) {
+        // move aliasYAxis changes
+        panelUpgrades.push(function(panel) {
+          if (panel.type !== 'graph') { return; }
+          _.each(panel.aliasYAxis, function(value, key) {
+            panel.seriesOverrides = [{ alias: key, yaxis: value }];
+          });
+          delete panel.aliasYAxis;
+        });
+      }
+
+      if (panelUpgrades.length === 0) {
+        return;
+      }
+
+      for (var i = 0; i < this.rows.length; i++) {
+        var row = this.rows[i];
+        for (var j = 0; j < row.panels.length; j++) {
+          for (var k = 0; k < panelUpgrades.length; k++) {
+            panelUpgrades[k](row.panels[j]);
           }
         }
       }
-
-      this.version = 3;
     };
 
     return {
diff --git a/src/test/specs/dashboardSrv-specs.js b/src/test/specs/dashboardSrv-specs.js
index 5e4e96401de..a2c7c1772f6 100644
--- a/src/test/specs/dashboardSrv-specs.js
+++ b/src/test/specs/dashboardSrv-specs.js
@@ -97,6 +97,7 @@ define([
               {
                 type: 'graphite',
                 legend: true,
+                aliasYAxis: { test: 2 },
                 grid: { min: 1, max: 10 }
               }
             ]
@@ -134,8 +135,13 @@ define([
       expect(graph.grid.leftMax).to.be(10);
     });
 
+    it('move aliasYAxis to series override', function() {
+      expect(graph.seriesOverrides[0].alias).to.be("test");
+      expect(graph.seriesOverrides[0].yaxis).to.be(2);
+    });
+
     it('dashboard schema version should be set to latest', function() {
-      expect(model.version).to.be(3);
+      expect(model.version).to.be(4);
     });
 
   });
diff --git a/src/test/specs/grafanaGraph-specs.js b/src/test/specs/grafanaGraph-specs.js
index 6d83467daa7..f5ad344c1c5 100644
--- a/src/test/specs/grafanaGraph-specs.js
+++ b/src/test/specs/grafanaGraph-specs.js
@@ -153,12 +153,27 @@ define([
         data[1].info.alias = 'test_01';
       });
 
-      it('should match second series and set pointradius, and set steppedLine', function() {
+      it('should match second series', function() {
         expect(ctx.plotData[0].lines.show).to.be(undefined);
         expect(ctx.plotData[1].lines.show).to.be(false);
       });
     });
 
+    graphScenario('override series y-axis', function(ctx) {
+      ctx.setup(function(scope, data) {
+        scope.panel.lines = true;
+        scope.panel.seriesOverrides = [
+          { alias: 'test', yaxis: 2 }
+        ];
+
+        data[1].info.alias = 'test';
+      });
+
+      it('should match second series and set yaxis', function() {
+        expect(ctx.plotData[1].yaxis).to.be(2);
+      });
+    });
+
   });
 });