diff --git a/frame/contracts/src/exec.rs b/frame/contracts/src/exec.rs
index 235ca63442b45..5733d86b42cac 100644
--- a/frame/contracts/src/exec.rs
+++ b/frame/contracts/src/exec.rs
@@ -1026,6 +1026,10 @@ where
 		top_frame.contract_info().code_hash = hash;
 		increment_refcount::<Self::T>(hash)?;
 		decrement_refcount::<Self::T>(prev_hash)?;
+		Contracts::<Self::T>::deposit_event(Event::ContractCodeUpdated {
+			contract: top_frame.account_id.clone(),
+			code_hash: hash,
+		});
 		Ok(())
 	}
 
diff --git a/frame/contracts/src/lib.rs b/frame/contracts/src/lib.rs
index e4a54362c90bc..77c3227179667 100644
--- a/frame/contracts/src/lib.rs
+++ b/frame/contracts/src/lib.rs
@@ -559,6 +559,14 @@ pub mod pallet {
 
 		/// A code with the specified hash was removed.
 		CodeRemoved { code_hash: T::Hash },
+
+		/// Contract code has been updated to one specified with code_hash
+		ContractCodeUpdated {
+			/// The contract that has been updated.
+			contract: T::AccountId,
+			/// New code hash that was set for the contract
+			code_hash: T::Hash,
+		},
 	}
 
 	#[pallet::error]