diff --git a/site/src/api/api.ts b/site/src/api/api.ts
index b686b2936594e..1b4c0cd09f46a 100644
--- a/site/src/api/api.ts
+++ b/site/src/api/api.ts
@@ -1,4 +1,4 @@
-import axios, { AxiosRequestHeaders } from "axios"
+import axios from "axios"
 import dayjs from "dayjs"
 import * as Types from "./types"
 import { DeploymentConfig } from "./types"
@@ -64,7 +64,7 @@ if (token !== null && token.getAttribute("content") !== null) {
   }
 }
 
-const CONTENT_TYPE_JSON: AxiosRequestHeaders = {
+const CONTENT_TYPE_JSON = {
   "Content-Type": "application/json",
 }
 
@@ -974,6 +974,41 @@ export class MissingBuildParameters extends Error {
   }
 }
 
+/** Steps to change the workspace version
+ * - Get the latest template to access the latest active version
+ * - Get the current build parameters
+ * - Get the template parameters
+ * - Update the build parameters and check if there are missed parameters for the new version
+ *   - If there are missing parameters raise an error
+ * - Create a build with the version and updated build parameters
+ */
+export const changeWorkspaceVersion = async (
+  workspace: TypesGen.Workspace,
+  templateVersionId: string,
+  newBuildParameters: TypesGen.WorkspaceBuildParameter[] = [],
+): Promise<TypesGen.WorkspaceBuild> => {
+  const [currentBuildParameters, templateParameters] = await Promise.all([
+    getWorkspaceBuildParameters(workspace.latest_build.id),
+    getTemplateVersionRichParameters(templateVersionId),
+  ])
+
+  const missingParameters = getMissingParameters(
+    currentBuildParameters,
+    newBuildParameters,
+    templateParameters,
+  )
+
+  if (missingParameters.length > 0) {
+    throw new MissingBuildParameters(missingParameters)
+  }
+
+  return postWorkspaceBuild(workspace.id, {
+    transition: "start",
+    template_version_id: templateVersionId,
+    rich_parameter_values: newBuildParameters,
+  })
+}
+
 /** Steps to update the workspace
  * - Get the latest template to access the latest active version
  * - Get the current build parameters
diff --git a/site/src/components/AvatarData/AvatarData.tsx b/site/src/components/AvatarData/AvatarData.tsx
index c88ddc07af779..324a1d828060d 100644
--- a/site/src/components/AvatarData/AvatarData.tsx
+++ b/site/src/components/AvatarData/AvatarData.tsx
@@ -31,7 +31,7 @@ export const AvatarData: FC<PropsWithChildren<AvatarDataProps>> = ({
     >
       {avatar}
 
-      <Stack spacing={0}>
+      <Stack spacing={0} className={styles.info}>
         <span className={styles.title}>{title}</span>
         {subtitle && <span className={styles.subtitle}>{subtitle}</span>}
       </Stack>
@@ -42,6 +42,11 @@ export const AvatarData: FC<PropsWithChildren<AvatarDataProps>> = ({
 const useStyles = makeStyles((theme) => ({
   root: {
     minHeight: theme.spacing(5), // Make it predictable for the skeleton
+    width: "100%",
+  },
+
+  info: {
+    width: "100%",
   },
 
   title: {
diff --git a/site/src/components/DropdownButton/ActionCtas.tsx b/site/src/components/DropdownButton/ActionCtas.tsx
index 29b63c5fd6a6a..85031e8256ab0 100644
--- a/site/src/components/DropdownButton/ActionCtas.tsx
+++ b/site/src/components/DropdownButton/ActionCtas.tsx
@@ -4,6 +4,7 @@ import { makeStyles } from "@material-ui/core/styles"
 import BlockIcon from "@material-ui/icons/Block"
 import CloudQueueIcon from "@material-ui/icons/CloudQueue"
 import SettingsOutlined from "@material-ui/icons/SettingsOutlined"
+import HistoryOutlined from "@material-ui/icons/HistoryOutlined"
 import CropSquareIcon from "@material-ui/icons/CropSquare"
 import DeleteOutlineIcon from "@material-ui/icons/DeleteOutline"
 import PlayCircleOutlineIcon from "@material-ui/icons/PlayCircleOutline"
@@ -53,6 +54,23 @@ export const SettingsButton: FC<React.PropsWithChildren<WorkspaceAction>> = ({
   )
 }
 
+export const ChangeVersionButton: FC<
+  React.PropsWithChildren<WorkspaceAction>
+> = ({ handleAction }) => {
+  const styles = useStyles()
+
+  return (
+    <Button
+      variant="outlined"
+      className={styles.actionButton}
+      startIcon={<HistoryOutlined />}
+      onClick={handleAction}
+    >
+      Change version
+    </Button>
+  )
+}
+
 export const StartButton: FC<React.PropsWithChildren<WorkspaceAction>> = ({
   handleAction,
 }) => {
diff --git a/site/src/components/UserAutocomplete/UserAutocomplete.tsx b/site/src/components/UserAutocomplete/UserAutocomplete.tsx
index 4d3f55d1d0399..3ca4ce7529c43 100644
--- a/site/src/components/UserAutocomplete/UserAutocomplete.tsx
+++ b/site/src/components/UserAutocomplete/UserAutocomplete.tsx
@@ -26,7 +26,6 @@ export const UserAutocomplete: FC<UserAutocompleteProps> = ({
 }) => {
   const styles = useStyles()
   const { t } = useTranslation("common")
-
   const [isAutocompleteOpen, setIsAutocompleteOpen] = useState(false)
   const [searchState, sendSearch] = useMachine(searchUserMachine)
   const { searchResults } = searchState.context
diff --git a/site/src/components/Workspace/Workspace.tsx b/site/src/components/Workspace/Workspace.tsx
index a8479fa68cae0..ceb18f2483107 100644
--- a/site/src/components/Workspace/Workspace.tsx
+++ b/site/src/components/Workspace/Workspace.tsx
@@ -47,12 +47,14 @@ export interface WorkspaceProps {
   handleUpdate: () => void
   handleCancel: () => void
   handleSettings: () => void
+  handleChangeVersion: () => void
   isUpdating: boolean
   workspace: TypesGen.Workspace
   resources?: TypesGen.WorkspaceResource[]
   builds?: TypesGen.WorkspaceBuild[]
   canUpdateWorkspace: boolean
   canUpdateTemplate: boolean
+  canChangeVersions: boolean
   hideSSHButton?: boolean
   hideVSCodeDesktopButton?: boolean
   workspaceErrors: Partial<Record<WorkspaceErrors, Error | unknown>>
@@ -76,12 +78,14 @@ export const Workspace: FC<React.PropsWithChildren<WorkspaceProps>> = ({
   handleUpdate,
   handleCancel,
   handleSettings,
+  handleChangeVersion,
   workspace,
   isUpdating,
   resources,
   builds,
   canUpdateWorkspace,
   canUpdateTemplate,
+  canChangeVersions,
   workspaceErrors,
   hideSSHButton,
   hideVSCodeDesktopButton,
@@ -142,6 +146,8 @@ export const Workspace: FC<React.PropsWithChildren<WorkspaceProps>> = ({
               handleUpdate={handleUpdate}
               handleCancel={handleCancel}
               handleSettings={handleSettings}
+              handleChangeVersion={handleChangeVersion}
+              canChangeVersions={canChangeVersions}
               isUpdating={isUpdating}
             />
           </Stack>
diff --git a/site/src/components/WorkspaceActions/WorkspaceActions.tsx b/site/src/components/WorkspaceActions/WorkspaceActions.tsx
index c4e9fde2d25d9..7a1c4e3aba14d 100644
--- a/site/src/components/WorkspaceActions/WorkspaceActions.tsx
+++ b/site/src/components/WorkspaceActions/WorkspaceActions.tsx
@@ -4,6 +4,7 @@ import { useTranslation } from "react-i18next"
 import { WorkspaceStatus } from "../../api/typesGenerated"
 import {
   ActionLoadingButton,
+  ChangeVersionButton,
   DeleteButton,
   DisabledButton,
   SettingsButton,
@@ -22,8 +23,10 @@ export interface WorkspaceActionsProps {
   handleUpdate: () => void
   handleCancel: () => void
   handleSettings: () => void
+  handleChangeVersion: () => void
   isUpdating: boolean
   children?: ReactNode
+  canChangeVersions: boolean
 }
 
 export const WorkspaceActions: FC<WorkspaceActionsProps> = ({
@@ -35,7 +38,9 @@ export const WorkspaceActions: FC<WorkspaceActionsProps> = ({
   handleUpdate,
   handleCancel,
   handleSettings,
+  handleChangeVersion,
   isUpdating,
+  canChangeVersions,
 }) => {
   const { t } = useTranslation("workspacePage")
   const { canCancel, canAcceptJobs, actions } = buttonAbilities(workspaceStatus)
@@ -50,6 +55,11 @@ export const WorkspaceActions: FC<WorkspaceActionsProps> = ({
     [ButtonTypesEnum.settings]: (
       <SettingsButton handleAction={handleSettings} />
     ),
+    [ButtonTypesEnum.changeVersion]: canChangeVersions ? (
+      <ChangeVersionButton handleAction={handleChangeVersion} />
+    ) : (
+      <></>
+    ),
     [ButtonTypesEnum.start]: <StartButton handleAction={handleStart} />,
     [ButtonTypesEnum.starting]: (
       <ActionLoadingButton label={t("actionButton.starting")} />
diff --git a/site/src/components/WorkspaceActions/constants.ts b/site/src/components/WorkspaceActions/constants.ts
index 383a708f73011..ada352871f2c3 100644
--- a/site/src/components/WorkspaceActions/constants.ts
+++ b/site/src/components/WorkspaceActions/constants.ts
@@ -12,6 +12,7 @@ export enum ButtonTypesEnum {
   update = "update",
   updating = "updating",
   settings = "settings",
+  changeVersion = "changeVersion",
   // disabled buttons
   canceling = "canceling",
   deleted = "deleted",
@@ -44,6 +45,7 @@ const statusToAbilities: Record<WorkspaceStatus, WorkspaceAbilities> = {
     actions: [
       ButtonTypesEnum.stop,
       ButtonTypesEnum.settings,
+      ButtonTypesEnum.changeVersion,
       ButtonTypesEnum.delete,
     ],
     canCancel: false,
@@ -58,6 +60,7 @@ const statusToAbilities: Record<WorkspaceStatus, WorkspaceAbilities> = {
     actions: [
       ButtonTypesEnum.start,
       ButtonTypesEnum.settings,
+      ButtonTypesEnum.changeVersion,
       ButtonTypesEnum.delete,
     ],
     canCancel: false,
@@ -68,6 +71,7 @@ const statusToAbilities: Record<WorkspaceStatus, WorkspaceAbilities> = {
       ButtonTypesEnum.start,
       ButtonTypesEnum.stop,
       ButtonTypesEnum.settings,
+      ButtonTypesEnum.changeVersion,
       ButtonTypesEnum.delete,
     ],
     canCancel: false,
@@ -79,6 +83,7 @@ const statusToAbilities: Record<WorkspaceStatus, WorkspaceAbilities> = {
       ButtonTypesEnum.start,
       ButtonTypesEnum.stop,
       ButtonTypesEnum.settings,
+      ButtonTypesEnum.changeVersion,
       ButtonTypesEnum.delete,
     ],
     canCancel: false,
diff --git a/site/src/pages/WorkspacePage/ChangeVersionDialog.tsx b/site/src/pages/WorkspacePage/ChangeVersionDialog.tsx
new file mode 100644
index 0000000000000..7dd8a7a2cfbec
--- /dev/null
+++ b/site/src/pages/WorkspacePage/ChangeVersionDialog.tsx
@@ -0,0 +1,125 @@
+import { DialogProps } from "components/Dialogs/Dialog"
+import { FC, useRef, useState } from "react"
+import { FormFields } from "components/Form/Form"
+import TextField from "@material-ui/core/TextField"
+import { ConfirmDialog } from "components/Dialogs/ConfirmDialog/ConfirmDialog"
+import { Stack } from "components/Stack/Stack"
+import { Template, TemplateVersion } from "api/typesGenerated"
+import { Loader } from "components/Loader/Loader"
+import Autocomplete from "@material-ui/lab/Autocomplete"
+import { createDayString } from "util/createDayString"
+import { AvatarData } from "components/AvatarData/AvatarData"
+import { Pill } from "components/Pill/Pill"
+import { Avatar } from "components/Avatar/Avatar"
+import CircularProgress from "@material-ui/core/CircularProgress"
+
+export type ChangeVersionDialogProps = DialogProps & {
+  template: Template | undefined
+  templateVersions: TemplateVersion[] | undefined
+  defaultTemplateVersion: TemplateVersion | undefined
+  onClose: () => void
+  onConfirm: (templateVersion: TemplateVersion) => void
+}
+
+export const ChangeVersionDialog: FC<ChangeVersionDialogProps> = ({
+  onConfirm,
+  onClose,
+  template,
+  templateVersions,
+  defaultTemplateVersion,
+  ...dialogProps
+}) => {
+  const [isAutocompleteOpen, setIsAutocompleteOpen] = useState(false)
+  const selectedTemplateVersion = useRef<TemplateVersion | undefined>()
+
+  return (
+    <ConfirmDialog
+      {...dialogProps}
+      onClose={onClose}
+      onConfirm={() => {
+        if (selectedTemplateVersion.current) {
+          onConfirm(selectedTemplateVersion.current)
+        }
+      }}
+      hideCancel={false}
+      type="success"
+      cancelText="Cancel"
+      confirmText="Change"
+      title="Change version"
+      description={
+        <Stack>
+          <p>You are about to change the version of this workspace.</p>
+          {templateVersions ? (
+            <FormFields>
+              <Autocomplete
+                disableClearable
+                options={templateVersions}
+                defaultValue={defaultTemplateVersion}
+                id="template-version-autocomplete"
+                open={isAutocompleteOpen}
+                onChange={(_, newTemplateVersion) => {
+                  selectedTemplateVersion.current =
+                    newTemplateVersion ?? undefined
+                }}
+                onOpen={() => {
+                  setIsAutocompleteOpen(true)
+                }}
+                onClose={() => {
+                  setIsAutocompleteOpen(false)
+                }}
+                getOptionSelected={(
+                  option: TemplateVersion,
+                  value: TemplateVersion,
+                ) => option.id === value.id}
+                getOptionLabel={(option) => option.name}
+                renderOption={(option: TemplateVersion) => (
+                  <AvatarData
+                    avatar={
+                      <Avatar src={option.created_by.avatar_url}>
+                        {option.name}
+                      </Avatar>
+                    }
+                    title={
+                      <Stack
+                        direction="row"
+                        justifyContent="space-between"
+                        style={{ width: "100%" }}
+                      >
+                        {option.name}
+                        {template?.active_version_id === option.id && (
+                          <Pill text="Active" type="success" />
+                        )}
+                      </Stack>
+                    }
+                    subtitle={createDayString(option.created_at)}
+                  />
+                )}
+                renderInput={(params) => (
+                  <TextField
+                    {...params}
+                    fullWidth
+                    variant="outlined"
+                    placeholder="Template version name"
+                    InputProps={{
+                      ...params.InputProps,
+                      endAdornment: (
+                        <>
+                          {!templateVersions ? (
+                            <CircularProgress size={16} />
+                          ) : null}
+                          {params.InputProps.endAdornment}
+                        </>
+                      ),
+                    }}
+                  />
+                )}
+              />
+            </FormFields>
+          ) : (
+            <Loader />
+          )}
+        </Stack>
+      }
+    />
+  )
+}
diff --git a/site/src/pages/WorkspacePage/WorkspaceReadyPage.tsx b/site/src/pages/WorkspacePage/WorkspaceReadyPage.tsx
index 98077e4a0548f..c688735974787 100644
--- a/site/src/pages/WorkspacePage/WorkspaceReadyPage.tsx
+++ b/site/src/pages/WorkspacePage/WorkspaceReadyPage.tsx
@@ -3,7 +3,7 @@ import { ProvisionerJobLog } from "api/typesGenerated"
 import { useDashboard } from "components/Dashboard/DashboardProvider"
 import dayjs from "dayjs"
 import { useFeatureVisibility } from "hooks/useFeatureVisibility"
-import { useEffect } from "react"
+import { useEffect, useState } from "react"
 import { Helmet } from "react-helmet-async"
 import { useTranslation } from "react-i18next"
 import { useNavigate } from "react-router-dom"
@@ -27,6 +27,9 @@ import {
   workspaceMachine,
 } from "../../xServices/workspace/workspaceXService"
 import { UpdateBuildParametersDialog } from "./UpdateBuildParametersDialog"
+import { ChangeVersionDialog } from "./ChangeVersionDialog"
+import { useQuery } from "@tanstack/react-query"
+import { getTemplateVersions } from "api/api"
 
 interface WorkspaceReadyPageProps {
   workspaceState: StateFrom<typeof workspaceMachine>
@@ -67,6 +70,13 @@ export const WorkspaceReadyPage = ({
   const { t } = useTranslation("workspacePage")
   const favicon = getFaviconByStatus(workspace.latest_build)
   const navigate = useNavigate()
+  const [changeVersionDialogOpen, setChangeVersionDialogOpen] = useState(false)
+  const { data: templateVersions } = useQuery({
+    queryKey: ["template", "versions", workspace.template_id],
+    queryFn: () => getTemplateVersions(workspace.template_id),
+    enabled: changeVersionDialogOpen,
+  })
+  const dashboard = useDashboard()
 
   // keep banner machine in sync with workspace
   useEffect(() => {
@@ -119,10 +129,16 @@ export const WorkspaceReadyPage = ({
         handleCancel={() => workspaceSend({ type: "CANCEL" })}
         handleSettings={() => navigate("settings")}
         handleBuildRetry={() => workspaceSend({ type: "RETRY_BUILD" })}
+        handleChangeVersion={() => {
+          setChangeVersionDialogOpen(true)
+        }}
         resources={workspace.latest_build.resources}
         builds={builds}
         canUpdateWorkspace={canUpdateWorkspace}
         canUpdateTemplate={canUpdateTemplate}
+        canChangeVersions={
+          canUpdateTemplate && dashboard.experiments.includes("template_editor")
+        }
         hideSSHButton={featureVisibility["browser_only"]}
         hideVSCodeDesktopButton={featureVisibility["browser_only"]}
         workspaceErrors={{
@@ -160,6 +176,24 @@ export const WorkspaceReadyPage = ({
           workspaceSend({ type: "UPDATE", buildParameters })
         }}
       />
+      <ChangeVersionDialog
+        templateVersions={templateVersions?.reverse()}
+        template={template}
+        defaultTemplateVersion={templateVersions?.find(
+          (v) => workspace.latest_build.template_version_id === v.id,
+        )}
+        open={changeVersionDialogOpen}
+        onClose={() => {
+          setChangeVersionDialogOpen(false)
+        }}
+        onConfirm={(templateVersion) => {
+          setChangeVersionDialogOpen(false)
+          workspaceSend({
+            type: "CHANGE_VERSION",
+            templateVersionId: templateVersion.id,
+          })
+        }}
+      />
     </>
   )
 }
diff --git a/site/src/xServices/workspace/workspaceXService.ts b/site/src/xServices/workspace/workspaceXService.ts
index 1c888e2d2576a..2188f33d70949 100644
--- a/site/src/xServices/workspace/workspaceXService.ts
+++ b/site/src/xServices/workspace/workspaceXService.ts
@@ -80,6 +80,8 @@ export interface WorkspaceContext {
   createBuildLogLevel?: TypesGen.CreateWorkspaceBuildRequest["log_level"]
   // SSH Config
   sshPrefix?: string
+  // Change version
+  templateVersionIdToChange?: TypesGen.TemplateVersion["id"]
 }
 
 export type WorkspaceEvent =
@@ -90,6 +92,11 @@ export type WorkspaceEvent =
   | { type: "DELETE" }
   | { type: "CANCEL_DELETE" }
   | { type: "UPDATE"; buildParameters?: TypesGen.WorkspaceBuildParameter[] }
+  | {
+      type: "CHANGE_VERSION"
+      templateVersionId: TypesGen.TemplateVersion["id"]
+      buildParameters?: TypesGen.WorkspaceBuildParameter[]
+    }
   | { type: "CANCEL" }
   | {
       type: "REFRESH_TIMELINE"
@@ -157,6 +164,9 @@ export const workspaceMachine = createMachine(
         updateWorkspace: {
           data: TypesGen.WorkspaceBuild
         }
+        changeWorkspaceVersion: {
+          data: TypesGen.WorkspaceBuild
+        }
         startWorkspace: {
           data: TypesGen.WorkspaceBuild
         }
@@ -290,6 +300,10 @@ export const workspaceMachine = createMachine(
                   STOP: "requestingStop",
                   ASK_DELETE: "askingDelete",
                   UPDATE: "requestingUpdate",
+                  CHANGE_VERSION: {
+                    target: "requestingChangeVersion",
+                    actions: ["assignTemplateVersionIdToChange"],
+                  },
                   CANCEL: "requestingCancel",
                   RETRY_BUILD: [
                     {
@@ -341,10 +355,37 @@ export const workspaceMachine = createMachine(
                   ],
                 },
               },
+              requestingChangeVersion: {
+                entry: ["clearBuildError"],
+                invoke: {
+                  src: "changeWorkspaceVersion",
+                  onDone: {
+                    target: "idle",
+                    actions: ["assignBuild", "clearTemplateVersionIdToChange"],
+                  },
+                  onError: [
+                    {
+                      target: "askingForMissedBuildParameters",
+                      cond: "isMissingBuildParameterError",
+                      actions: ["assignMissedParameters"],
+                    },
+                    {
+                      target: "idle",
+                      actions: ["assignBuildError"],
+                    },
+                  ],
+                },
+              },
               askingForMissedBuildParameters: {
                 on: {
                   CANCEL: "idle",
-                  UPDATE: "requestingUpdate",
+                  UPDATE: [
+                    {
+                      target: "requestingChangeVersion",
+                      cond: "isChangingVersion",
+                    },
+                    { target: "requestingUpdate" },
+                  ],
                 },
               },
               requestingStart: {
@@ -669,6 +710,14 @@ export const workspaceMachine = createMachine(
       // Debug mode when build fails
       enableDebugMode: assign({ createBuildLogLevel: (_) => "debug" as const }),
       disableDebugMode: assign({ createBuildLogLevel: (_) => undefined }),
+      // Change version
+      assignTemplateVersionIdToChange: assign({
+        templateVersionIdToChange: (_, { templateVersionId }) =>
+          templateVersionId,
+      }),
+      clearTemplateVersionIdToChange: assign({
+        templateVersionIdToChange: (_) => undefined,
+      }),
     },
     guards: {
       moreBuildsAvailable,
@@ -684,6 +733,8 @@ export const workspaceMachine = createMachine(
       lastBuildWasDeleting: ({ workspace }) => {
         return workspace?.latest_build.transition === "delete"
       },
+      isChangingVersion: ({ templateVersionIdToChange }) =>
+        Boolean(templateVersionIdToChange),
     },
     services: {
       getWorkspace: async ({ username, workspaceName }) => {
@@ -708,6 +759,23 @@ export const workspaceMachine = createMachine(
           send({ type: "REFRESH_TIMELINE" })
           return build
         },
+      changeWorkspaceVersion:
+        ({ workspace, templateVersionIdToChange }, { buildParameters }) =>
+        async (send) => {
+          if (!workspace) {
+            throw new Error("Workspace is not set")
+          }
+          if (!templateVersionIdToChange) {
+            throw new Error("Template version id to change is not set")
+          }
+          const build = await API.changeWorkspaceVersion(
+            workspace,
+            templateVersionIdToChange,
+            buildParameters,
+          )
+          send({ type: "REFRESH_TIMELINE" })
+          return build
+        },
       startWorkspace: (context) => async (send) => {
         if (context.workspace) {
           const startWorkspacePromise = await API.startWorkspace(