diff --git a/openpype/hosts/unreal/api/pipeline.py b/openpype/hosts/unreal/api/pipeline.py
index 2893550325..60b4886e4f 100644
--- a/openpype/hosts/unreal/api/pipeline.py
+++ b/openpype/hosts/unreal/api/pipeline.py
@@ -13,8 +13,10 @@ from openpype.client import get_asset_by_name, get_assets
 from openpype.pipeline import (
     register_loader_plugin_path,
     register_creator_plugin_path,
+    register_inventory_action_path,
     deregister_loader_plugin_path,
     deregister_creator_plugin_path,
+    deregister_inventory_action_path,
     AYON_CONTAINER_ID,
     legacy_io,
 )
@@ -127,6 +129,7 @@ def install():
     pyblish.api.register_plugin_path(str(PUBLISH_PATH))
     register_loader_plugin_path(str(LOAD_PATH))
     register_creator_plugin_path(str(CREATE_PATH))
+    register_inventory_action_path(str(INVENTORY_PATH))
     _register_callbacks()
     _register_events()
 
@@ -136,6 +139,7 @@ def uninstall():
     pyblish.api.deregister_plugin_path(str(PUBLISH_PATH))
     deregister_loader_plugin_path(str(LOAD_PATH))
     deregister_creator_plugin_path(str(CREATE_PATH))
+    deregister_inventory_action_path(str(INVENTORY_PATH))
 
 
 def _register_callbacks():
diff --git a/openpype/hosts/unreal/plugins/inventory/update_actors.py b/openpype/hosts/unreal/plugins/inventory/update_actors.py
new file mode 100644
index 0000000000..672bb2b32e
--- /dev/null
+++ b/openpype/hosts/unreal/plugins/inventory/update_actors.py
@@ -0,0 +1,60 @@
+import unreal
+
+from openpype.hosts.unreal.api.pipeline import (
+    ls,
+    replace_static_mesh_actors,
+    replace_skeletal_mesh_actors,
+    delete_previous_asset_if_unused,
+)
+from openpype.pipeline import InventoryAction
+
+
+class UpdateActors(InventoryAction):
+    """Update Actors in level to this version.
+    """
+
+    label = "Update Actors in level to this version"
+    icon = "arrow-up"
+
+    def process(self, containers):
+        allowed_families = ["model", "rig"]
+
+        # Get all the containers in the Unreal Project
+        all_containers = ls()
+
+        for container in containers:
+            container_dir = container.get("namespace")
+            if container.get("family") not in allowed_families:
+                unreal.log_warning(
+                    f"Container {container_dir} is not supported.")
+                continue
+
+            # Get all containers with same asset_name but different objectName.
+            # These are the containers that need to be updated in the level.
+            sa_containers = [
+                i
+                for i in all_containers
+                if (
+                    i.get("asset_name") == container.get("asset_name") and
+                    i.get("objectName") != container.get("objectName")
+                )
+            ]
+
+            asset_content = unreal.EditorAssetLibrary.list_assets(
+                container_dir, recursive=True, include_folder=False
+            )
+
+            # Update all actors in level
+            for sa_cont in sa_containers:
+                sa_dir = sa_cont.get("namespace")
+                old_content = unreal.EditorAssetLibrary.list_assets(
+                    sa_dir, recursive=True, include_folder=False
+                )
+
+                if container.get("family") == "rig":
+                    replace_skeletal_mesh_actors(old_content, asset_content)
+                replace_static_mesh_actors(old_content, asset_content)
+
+                unreal.EditorLevelLibrary.save_current_level()
+
+                delete_previous_asset_if_unused(sa_cont, old_content)