diff --git a/assets/js/blocks/featured-product/block.js b/assets/js/blocks/featured-product/block.js
index 023ef71118a..a0126cd3665 100644
--- a/assets/js/blocks/featured-product/block.js
+++ b/assets/js/blocks/featured-product/block.js
@@ -3,7 +3,7 @@
 /**
  * External dependencies
  */
-import { useCallback, useState } from 'react';
+import { useCallback, useEffect, useState } from 'react';
 import { __ } from '@wordpress/i18n';
 import {
 	AlignmentToolbar,
@@ -13,6 +13,8 @@ import {
 	MediaReplaceFlow,
 	RichText,
 	__experimentalGetSpacingClassesAndStyles as getSpacingClassesAndStyles,
+	__experimentalImageEditingProvider as ImageEditingProvider,
+	__experimentalImageEditor as ImageEditor,
 	__experimentalPanelColorGradientSettings as PanelColorGradientSettings,
 	__experimentalUseGradient as useGradient,
 } from '@wordpress/block-editor';
@@ -26,6 +28,7 @@ import {
 	ResizableBox,
 	Spinner,
 	ToggleControl,
+	ToolbarButton,
 	ToolbarGroup,
 	withSpokenMessages,
 	__experimentalToggleGroupControl as ToggleGroupControl,
@@ -40,7 +43,7 @@ import ProductControl from '@woocommerce/editor-components/product-control';
 import ErrorPlaceholder from '@woocommerce/editor-components/error-placeholder';
 import TextToolbarButton from '@woocommerce/editor-components/text-toolbar-button';
 import { withProduct } from '@woocommerce/block-hocs';
-import { Icon, starEmpty } from '@wordpress/icons';
+import { crop, Icon, starEmpty } from '@wordpress/icons';
 
 /**
  * Internal dependencies
@@ -52,6 +55,11 @@ import {
 } from '../../utils/products';
 import { useThrottle } from '../../utils/useThrottle';
 
+const DEFAULT_EDITOR_SIZE = {
+	height: 500,
+	width: 500,
+};
+
 export const ConstrainedResizable = ( {
 	className = '',
 	onResize,
@@ -110,10 +118,18 @@ const FeaturedProduct = ( {
 	setAttributes,
 	triggerUrlUpdate = () => void null,
 } ) => {
+	const { mediaId, mediaSrc } = attributes;
+
+	const [ isEditingImage, setIsEditingImage ] = useState( false );
+	const [ backgroundImageSize, setBackgroundImageSize ] = useState( {} );
 	const { setGradient } = useGradient( {
 		gradientAttribute: 'overlayGradient',
 		customGradientAttribute: 'overlayGradient',
 	} );
+
+	const backgroundImageSrc = mediaSrc || getImageSrcFromProduct( product );
+	const backgroundImageId = mediaId || getImageIdFromProduct( product );
+
 	const onResize = useCallback(
 		( _event, _direction, elt ) => {
 			setAttributes( { minHeight: parseInt( elt.style.height, 10 ) } );
@@ -130,6 +146,10 @@ const FeaturedProduct = ( {
 		/>
 	);
 
+	useEffect( () => {
+		setIsEditingImage( false );
+	}, [ isSelected ] );
+
 	const renderEditMode = () => {
 		const onDone = () => {
 			setAttributes( { editMode: false } );
@@ -180,8 +200,7 @@ const FeaturedProduct = ( {
 	};
 
 	const getBlockControls = () => {
-		const { contentAlign, editMode, mediaSrc } = attributes;
-		const mediaId = attributes.mediaId || getImageIdFromProduct( product );
+		const { contentAlign, editMode } = attributes;
 
 		return (
 			<BlockControls>
@@ -192,8 +211,18 @@ const FeaturedProduct = ( {
 					} }
 				/>
 				<ToolbarGroup>
+					{ ! isEditingImage && (
+						<ToolbarButton
+							onClick={ () => setIsEditingImage( true ) }
+							icon={ crop }
+							label={ __(
+								'Edit product image',
+								'woo-gutenberg-products-block'
+							) }
+						/>
+					) }
 					<MediaReplaceFlow
-						mediaId={ mediaId }
+						mediaId={ backgroundImageId }
 						mediaURL={ mediaSrc }
 						accept="image/*"
 						onSelect={ ( media ) => {
@@ -204,7 +233,7 @@ const FeaturedProduct = ( {
 						} }
 						allowedTypes={ [ 'image' ] }
 					/>
-					{ mediaId && mediaSrc ? (
+					{ backgroundImageId && mediaSrc ? (
 						<TextToolbarButton
 							onClick={ () =>
 								setAttributes( { mediaId: 0, mediaSrc: '' } )
@@ -400,7 +429,6 @@ const FeaturedProduct = ( {
 			dimRatio,
 			focalPoint,
 			imageFit,
-			mediaSrc,
 			minHeight,
 			overlayColor,
 			overlayGradient,
@@ -430,9 +458,6 @@ const FeaturedProduct = ( {
 			minHeight,
 		};
 
-		const backgroundImageSrc =
-			mediaSrc || getImageSrcFromProduct( product );
-
 		const backgroundImageStyle = {
 			...calculateBackgroundImagePosition( focalPoint ),
 			objectFit: imageFit,
@@ -465,6 +490,12 @@ const FeaturedProduct = ( {
 							className="wc-block-featured-product__background-image"
 							src={ backgroundImageSrc }
 							style={ backgroundImageStyle }
+							onLoad={ ( e ) => {
+								setBackgroundImageSize( {
+									height: e.target?.naturalHeight,
+									width: e.target?.naturalWidth,
+								} );
+							} }
 						/>
 						<h2
 							className="wc-block-featured-product__title"
@@ -580,6 +611,40 @@ const FeaturedProduct = ( {
 		return renderEditMode();
 	}
 
+	if ( isEditingImage ) {
+		return (
+			<>
+				<ImageEditingProvider
+					id={ backgroundImageId }
+					url={ backgroundImageSrc }
+					naturalHeight={
+						backgroundImageSize.height || DEFAULT_EDITOR_SIZE.height
+					}
+					naturalWidth={
+						backgroundImageSize.width || DEFAULT_EDITOR_SIZE.width
+					}
+					onSaveImage={ ( { id, url } ) => {
+						setAttributes( { mediaId: id, mediaSrc: url } );
+					} }
+					isEditing={ isEditingImage }
+					onFinishEditing={ () => setIsEditingImage( false ) }
+				>
+					<ImageEditor
+						url={ backgroundImageSrc }
+						height={
+							backgroundImageSize.height ||
+							DEFAULT_EDITOR_SIZE.height
+						}
+						width={
+							backgroundImageSize.width ||
+							DEFAULT_EDITOR_SIZE.width
+						}
+					/>
+				</ImageEditingProvider>
+			</>
+		);
+	}
+
 	return (
 		<>
 			{ getBlockControls() }
diff --git a/assets/js/blocks/featured-product/style.scss b/assets/js/blocks/featured-product/style.scss
index 093c1eb6ae9..75b71078946 100644
--- a/assets/js/blocks/featured-product/style.scss
+++ b/assets/js/blocks/featured-product/style.scss
@@ -16,6 +16,21 @@
 			height: auto !important;
 		}
 	}
+
+	// Applying image edits
+	.is-applying {
+		.components-spinner {
+			position: absolute;
+			top: 50%;
+			left: 50%;
+			margin-top: -9px;
+			margin-left: -9px;
+		}
+
+		img {
+			opacity: 0.3;
+		}
+	}
 }
 
 .wc-block-featured-product {