diff --git a/resources/css/components/fieldtypes/assets.css b/resources/css/components/fieldtypes/assets.css
index cc7ef23e83..3ba77ac311 100644
--- a/resources/css/components/fieldtypes/assets.css
+++ b/resources/css/components/fieldtypes/assets.css
@@ -7,7 +7,7 @@
 }
 
 .assets-fieldtype .assets-fieldtype-picker {
-    @apply flex flex-col @sm:flex-row items-start @sm:items-center px-4 py-2 bg-gray-200 dark:bg-dark-650 border dark:border-dark-900 rounded;
+    @apply flex items-center px-4 py-2 bg-gray-200 dark:bg-dark-650 border dark:border-dark-900 rounded;
 
     &.is-expanded {
         @apply border-b-0 rounded-b-none;
diff --git a/resources/js/components/fieldtypes/assets/AssetsFieldtype.vue b/resources/js/components/fieldtypes/assets/AssetsFieldtype.vue
index 1d59e98826..b84d4bf0a7 100644
--- a/resources/js/components/fieldtypes/assets/AssetsFieldtype.vue
+++ b/resources/js/components/fieldtypes/assets/AssetsFieldtype.vue
@@ -1,6 +1,12 @@
 <template>
     <div class="@container">
 
+        <div
+            v-if="hasPendingDynamicFolder"
+            class="py-3 px-4 text-sm w-full rounded-md border border-dashed text-gray-700 dark:text-dark-175 dark:border-dark-200"
+            v-html="__('statamic::fieldtypes.assets.dynamic_folder_pending', {field: `<code>${config.dynamic}</code>`})"
+        />
+
         <uploader
             ref="uploader"
             :container="container"
@@ -19,13 +25,12 @@
 
                 <div
                     v-if="!isReadOnly && showPicker"
-                    class="assets-fieldtype-picker"
+                    class="assets-fieldtype-picker space-x-4"
                     :class="{
                         'is-expanded': expanded,
                         'bard-drag-handle': isInBardField
                     }"
                 >
-
                     <button
                         v-if="canBrowse"
                         :class="{'opacity-0': dragging }"
@@ -37,14 +42,21 @@
                         <svg-icon name="folder-image" class="w-4 h-4 text-gray-800 dark:text-dark-150"></svg-icon>
                         {{ __('Browse') }}
                     </button>
-
-                    <p class="asset-upload-control" v-if="canUpload">
+                    <p class="flex-1 asset-upload-control" v-if="canUpload">
                         <button type="button" class="upload-text-button" @click.prevent="uploadFile">
                             {{ __('Upload file') }}
                         </button>
                         <span v-if="soloAsset" class="drag-drop-text" v-text="__('or drag & drop here to replace.')"></span>
                         <span v-else class="drag-drop-text" v-text="__('or drag & drop here.')"></span>
                     </p>
+                    <dropdown-list v-if="meta.rename_folder">
+                        <data-list-inline-actions
+                            :item="folder"
+                            :url="meta.rename_folder.url"
+                            :actions="[meta.rename_folder.action]"
+                            @completed="renameFolderActionCompleted"
+                        />
+                    </dropdown-list>
                 </div>
 
                 <uploads
@@ -189,6 +201,7 @@ export default {
             uploads: [],
             innerDragging: false,
             displayMode: 'grid',
+            lockedDynamicFolder: this.meta.dynamicFolder,
         };
     },
 
@@ -213,15 +226,58 @@ export default {
          * The initial folder to be displayed in the selector.
          */
         folder() {
+            let folder = this.configuredFolder;
+
+            if (this.isUsingDynamicFolder) {
+                folder = folder + '/' + (this.lockedDynamicFolder || this.dynamicFolder);
+            }
+
+            return folder.replace(/^\/+/, '');
+        },
+
+        configuredFolder() {
             return this.config.folder || '/';
         },
 
+        isUsingDynamicFolder() {
+            return !!this.config.dynamic;
+        },
+
+        hasPendingDynamicFolder() {
+            return this.isUsingDynamicFolder && ! this.lockedDynamicFolder && ! this.dynamicFolder;
+        },
+
+        dynamicFolder() {
+            const field = this.config.dynamic;
+            if (! ['id', 'slug', 'author'].includes(field)) {
+                throw new Error(`Dynamic folder field [${field}] is invalid. Must be one of: id, slug, author`);
+            }
+
+            const value = data_get(this.$store.state.publish[this.store].values, field);
+
+            // If value is an array (e.g. a users fieldtype), get the first item.
+            return Array.isArray(value) ? value[0] : value;
+        },
+
+        store() {
+            let store;
+            let parent = this;
+
+            while (! parent.storeName) {
+                parent = parent.$parent;
+                store = parent.storeName;
+                if (parent === this.$root) return null;
+            }
+
+            return store;
+        },
+
         /**
          * Whether assets should be restricted to the specified container
          * and folder. This will prevent navigation to other places.
          */
         restrictNavigation() {
-            return this.config.restrict || false;
+            return this.isUsingDynamicFolder || this.config.restrict || false;
         },
 
         /**
@@ -363,11 +419,19 @@ export default {
         },
 
         canBrowse() {
-            return this.can('configure asset containers') || this.can('view '+ this.container +' assets')
+            const hasPermission = this.can('configure asset containers') || this.can('view '+ this.container +' assets');
+
+            if (! hasPermission) return false;
+
+            return ! this.hasPendingDynamicFolder;
         },
 
         canUpload() {
-            return this.config.allow_uploads && (this.can('configure asset containers') || this.can('upload '+ this.container +' assets'))
+            const hasPermission = this.config.allow_uploads && (this.can('configure asset containers') || this.can('upload '+ this.container +' assets'));
+
+            if (! hasPermission) return false;
+
+            return ! this.hasPendingDynamicFolder;
         },
 
     },
@@ -425,6 +489,7 @@ export default {
          */
         assetsSelected(selections) {
             this.loadAssets(selections);
+            this.lockDynamicFolder();
         },
 
         /**
@@ -462,6 +527,8 @@ export default {
          */
         uploadComplete(asset) {
             this.assets.push(asset);
+
+            this.lockDynamicFolder();
         },
 
         /**
@@ -491,6 +558,46 @@ export default {
             this.update([...this.value.slice(0, index), newId, ...this.value.slice(index + 1)]);
         },
 
+        lockDynamicFolder() {
+            if (this.isUsingDynamicFolder && !this.lockedDynamicFolder) this.lockedDynamicFolder = this.dynamicFolder;
+        },
+
+        syncDynamicFolderFromValue(value) {
+            if (! this.isUsingDynamicFolder) return;
+
+            this.lockedDynamicFolder = null;
+
+            if (value.length === 0) {
+                // If there are no assets, we should get the dynamic folder naturally.
+                this.lockDynamicFolder();
+            } else {
+                // Otherwise, figure it out from the first selected asset.
+                const first = value[0];
+                const segments = first.split('::')[1].split('/');
+                this.lockedDynamicFolder = segments[segments.length - 2];
+            }
+
+            // Set the new folder in the rename action.
+            const meta = this.meta;
+            meta.rename_folder.action.context.folder = this.folder;
+            this.updateMeta(meta);
+        },
+
+        renameFolderActionCompleted(successful=null, response={}) {
+            if (successful === false) return;
+
+            this.$events.$emit('reset-action-modals');
+
+            if (response.message !== false) {
+                this.$toast.success(response.message || __("Action completed"));
+            }
+
+            // Update the folder in the current asset values.
+            // They will be adjusted in the content but not here automatically since there's no refresh.
+            const newFolder = response[0].path;
+            this.update(this.value.map(id => id.replace(`::${this.folder}`, `::${newFolder}`)));
+            this.lockedDynamicFolder = this.configuredFolder ? newFolder.replace(`${this.configuredFolder}/`, '') : newFolder;
+        }
     },
 
 
@@ -516,6 +623,8 @@ export default {
         value(value) {
             if (_.isEqual(value, this.assetIds)) return;
 
+            this.syncDynamicFolderFromValue(value);
+
             this.loadAssets(value);
         },
 
diff --git a/resources/lang/en/fieldtypes.php b/resources/lang/en/fieldtypes.php
index c1263a4240..ed79b0bf87 100644
--- a/resources/lang/en/fieldtypes.php
+++ b/resources/lang/en/fieldtypes.php
@@ -10,6 +10,7 @@
     'array.title' => 'Array',
     'assets.config.allow_uploads' => 'Allow new file uploads.',
     'assets.config.container' => 'Choose which asset container to use for this field.',
+    'assets.config.dynamic' => 'Assets will be placed in a subfolder based on the value of this field.',
     'assets.config.folder' => 'The folder to begin browsing in.',
     'assets.config.max_files' => 'Set a maximum number of selectable assets.',
     'assets.config.min_files' => 'The minimum number of selectable assets.',
@@ -18,6 +19,7 @@
     'assets.config.show_filename' => 'Show the filename next to the preview image.',
     'assets.config.show_set_alt' => 'Show a link to set the Alt Text of any images.',
     'assets.config.query_scopes' => 'Choose which query scopes should be applied when retrieving selectable assets.',
+    'assets.dynamic_folder_pending' => 'This upload folder will be available once :field is set.',
     'assets.title' => 'Assets',
     'bard.config.allow_source' => 'Enable to view the HTML source code while writing.',
     'bard.config.always_show_set_button' => 'Enable to always show the "Add Set" button.',
diff --git a/src/Actions/RenameAssetFolder.php b/src/Actions/RenameAssetFolder.php
index bc61c2f677..2652d1f9bd 100644
--- a/src/Actions/RenameAssetFolder.php
+++ b/src/Actions/RenameAssetFolder.php
@@ -9,7 +9,7 @@ class RenameAssetFolder extends Action
 {
     public static function title()
     {
-        return __('Rename');
+        return __('Rename Folder');
     }
 
     public function visibleTo($item)
diff --git a/src/Fieldtypes/Assets/Assets.php b/src/Fieldtypes/Assets/Assets.php
index 05d6bb861e..f44d58b305 100644
--- a/src/Fieldtypes/Assets/Assets.php
+++ b/src/Fieldtypes/Assets/Assets.php
@@ -3,13 +3,17 @@
 namespace Statamic\Fieldtypes\Assets;
 
 use Illuminate\Support\Collection;
+use Statamic\Actions\RenameAssetFolder;
 use Statamic\Assets\OrderedQueryBuilder;
+use Statamic\Contracts\Entries\Entry;
 use Statamic\Exceptions\AssetContainerNotFoundException;
+use Statamic\Facades\Action;
 use Statamic\Facades\Asset;
 use Statamic\Facades\AssetContainer;
 use Statamic\Facades\Blink;
 use Statamic\Facades\GraphQL;
 use Statamic\Facades\Scope;
+use Statamic\Facades\User;
 use Statamic\Fields\Fieldtype;
 use Statamic\GraphQL\Types\AssetInterface;
 use Statamic\Http\Resources\CP\Assets\Asset as AssetResource;
@@ -69,12 +73,28 @@ protected function configFieldItems(): array
                             'container' => 'not empty',
                         ],
                     ],
+                    'dynamic' => [
+                        'display' => __('Dynamic Folder'),
+                        'instructions' => __('statamic::fieldtypes.assets.config.dynamic'),
+                        'type' => 'select',
+                        'clearable' => true,
+                        'options' => [
+                            'id' => __('ID'),
+                            'slug' => __('Slug'),
+                            'author' => __('Author'),
+                        ],
+                        'validate' => 'in:id,slug,author',
+                        'if' => [
+                            'container' => 'not empty',
+                        ],
+                    ],
                     'restrict' => [
                         'display' => __('Restrict to Folder'),
                         'instructions' => __('statamic::fieldtypes.assets.config.restrict'),
                         'type' => 'toggle',
                         'if' => [
                             'container' => 'not empty',
+                            'dynamic' => 'not true',
                         ],
                     ],
                     'allow_uploads' => [
@@ -150,7 +170,70 @@ public function preload()
     {
         return [
             'data' => $this->getItemData($this->field->value() ?? $this->defaultValue),
-            'container' => $this->container()->handle(),
+            'container' => $container = $this->container()->handle(),
+            'dynamicFolder' => $dynamicFolder = $this->dynamicFolder(),
+            'rename_folder' => $this->renameFolderAction($dynamicFolder),
+        ];
+    }
+
+    private function dynamicFolder()
+    {
+        if (! $this->config('dynamic')) {
+            return null;
+        }
+
+        // If there's already a value, get the folder from the first asset.
+        // The user may have renamed the directory to differ from the entry slug.
+        if (! empty($value = $this->field->value())) {
+            $folder = ($folder = $this->config('folder')) ? $folder.'/' : '';
+            $prefix = $this->container()->handle().'::'.$folder;
+            $file = Str::after($value[0], $prefix);
+
+            return Str::beforeLast($file, '/');
+        }
+
+        // Otherwise, use a given field's value as the folder.
+        if (! in_array($field = $this->config('dynamic'), ['id', 'slug', 'author'])) {
+            throw new \Exception("Dynamic folder field [$field] is invalid. Must be one of: id, slug, author");
+        }
+
+        $parent = $this->field->parent();
+
+        if ($parent instanceof Entry) {
+            $value = $parent->$field;
+
+            // If the author field doesn't have a max_items of 1, it'll be a collection, so grab the first one.
+            if ($value instanceof Collection) {
+                $value = $value->first();
+            }
+
+            // If the author field had max_items 1 it would be a user, or since we got it above, use its id.
+            if (is_object($value)) {
+                $value = $value->id();
+            }
+
+            return $value;
+        }
+    }
+
+    private function renameFolderAction($dynamicFolder)
+    {
+        if (! $dynamicFolder) {
+            return null;
+        }
+
+        $container = $this->container();
+        $folder = (($folder = $this->config('folder')) ? $folder.'/' : '').$dynamicFolder;
+        $assetFolder = $container->assetFolder($folder);
+
+        $action = Action::for($assetFolder, [
+            'container' => $container->handle(),
+            'folder' => $folder,
+        ])->first(fn ($action) => get_class($action) === RenameAssetFolder::class)->toArray();
+
+        return [
+            'url' => cp_route('assets.folders.actions.run', $container),
+            'action' => $action,
         ];
     }