diff --git a/Code/Framework/AzCore/Tests/AssetJsonSerializerTests.cpp b/Code/Framework/AzCore/Tests/AssetJsonSerializerTests.cpp
index e04c5190f9..e3a2c5c23b 100644
--- a/Code/Framework/AzCore/Tests/AssetJsonSerializerTests.cpp
+++ b/Code/Framework/AzCore/Tests/AssetJsonSerializerTests.cpp
@@ -64,6 +64,91 @@ namespace JsonSerializationTests
 
     };
 
+    class TestSerializedAssetTracker
+        : public BaseJsonSerializerFixture
+    {
+    public:
+        void SetUp() override
+        {
+            BaseJsonSerializerFixture::SetUp();
+
+            AZ::AllocatorInstance<AZ::PoolAllocator>::Create();
+            AZ::AllocatorInstance<AZ::ThreadPoolAllocator>::Create();
+
+            // Set up the Job Manager with 1 thread so that the Asset Manager is able to load assets.
+            AZ::JobManagerDesc jobDesc;
+            AZ::JobManagerThreadDesc threadDesc;
+            jobDesc.m_workerThreads.push_back(threadDesc);
+            m_jobManager = aznew AZ::JobManager(jobDesc);
+            m_jobContext = aznew AZ::JobContext(*m_jobManager);
+            AZ::JobContext::SetGlobalContext(m_jobContext);
+
+            AZ::Data::AssetManager::Descriptor descriptor;
+            AZ::Data::AssetManager::Create(descriptor);
+            AZ::Data::AssetManager::Instance().RegisterHandler(&m_assetHandler, azrtti_typeid<TestAssetData>());
+
+            m_serializeContext->RegisterGenericType<AZ::Data::Asset<TestAssetData>>();
+            m_jsonRegistrationContext->Serializer<AZ::Data::AssetJsonSerializer>()->HandlesType<AZ::Data::Asset>();
+        }
+
+        void TearDown() override
+        {
+            m_jsonRegistrationContext->EnableRemoveReflection();
+            m_jsonRegistrationContext->Serializer<AZ::Data::AssetJsonSerializer>()->HandlesType<AZ::Data::Asset>();
+            m_jsonRegistrationContext->DisableRemoveReflection();
+
+            AZ::Data::AssetManager::Instance().UnregisterHandler(&m_assetHandler);
+            AZ::Data::AssetManager::Destroy();
+
+            AZ::JobContext::SetGlobalContext(nullptr);
+            delete m_jobContext;
+            delete m_jobManager;
+
+            AZ::AllocatorInstance<AZ::ThreadPoolAllocator>::Destroy();
+            AZ::AllocatorInstance<AZ::PoolAllocator>::Destroy();
+
+            BaseJsonSerializerFixture::TearDown();
+        }
+
+    private:
+        TestAssetHandler m_assetHandler;
+        AZ::JobManager* m_jobManager{ nullptr };
+        AZ::JobContext* m_jobContext{ nullptr };
+    };
+
+    TEST_F(TestSerializedAssetTracker, AssetTracker_Callback_Works)
+    {
+        auto assetCallback = [](AZ::Data::Asset<AZ::Data::AssetData>& asset)
+        {
+            if (!asset.GetId().IsValid() && !asset.GetHint().empty())
+            {
+                if (asset.GetHint() == "test/path/foo.asset")
+                {
+                    asset.SetHint("passed");
+                }
+            }
+        };
+        auto tracker = AZ::Data::SerializedAssetTracker{};
+        tracker.SetAssetFixUp(assetCallback);
+
+        AZ::JsonDeserializerSettings settings;
+        settings.m_metadata.Add(tracker);
+        settings.m_registrationContext = this->m_jsonRegistrationContext.get();
+        settings.m_serializeContext = this->m_serializeContext.get();
+
+        AZStd::string_view assetHintOnlyTestAsset = R"(
+                {
+                    "assetHint" : "test/path/foo.asset"
+                })";
+        rapidjson::Document jsonDom;
+        jsonDom.Parse(assetHintOnlyTestAsset.data());
+
+        AZ::Data::Asset<TestAssetData> instance;
+        auto result = AZ::JsonSerialization::Load(instance, jsonDom, settings);
+        EXPECT_NE(result.GetProcessing(), AZ::JsonSerializationResult::Processing::Halted);
+        EXPECT_STREQ(instance.GetHint().c_str(), "passed");
+    }
+
     class AssetSerializerTestDescription final
         : public JsonSerializerConformityTestDescriptor<AZ::Data::Asset<TestAssetData>>
     {