diff --git a/Gems/AtomLyIntegration/CommonFeatures/Code/Include/AtomLyIntegration/CommonFeatures/Material/EditorMaterialSystemComponentNotificationBus.h b/Gems/AtomLyIntegration/CommonFeatures/Code/Include/AtomLyIntegration/CommonFeatures/Material/EditorMaterialSystemComponentNotificationBus.h
index 4e655c7835..30762a60ba 100644
--- a/Gems/AtomLyIntegration/CommonFeatures/Code/Include/AtomLyIntegration/CommonFeatures/Material/EditorMaterialSystemComponentNotificationBus.h
+++ b/Gems/AtomLyIntegration/CommonFeatures/Code/Include/AtomLyIntegration/CommonFeatures/Material/EditorMaterialSystemComponentNotificationBus.h
@@ -10,7 +10,6 @@
 #include <Atom/Feature/Material/MaterialAssignmentId.h>
 #include <AzCore/Component/EntityId.h>
 #include <AzCore/EBus/EBus.h>
-#include <AzCore/std/string/string.h>
 
 class QPixmap;
 
@@ -18,11 +17,11 @@ namespace AZ
 {
     namespace Render
     {
-        //! EditorMaterialSystemComponentNotifications provides an interface to communicate with EditorMaterialSystemComponent
+        //! EditorMaterialSystemComponentNotifications is an interface for handling notifications from EditorMaterialSystemComponent, like
+        //! being informed that material preview images are available
         class EditorMaterialSystemComponentNotifications : public AZ::EBusTraits
         {
         public:
-            // Only a single handler is allowed
             static const AZ::EBusAddressPolicy AddressPolicy = AZ::EBusAddressPolicy::Single;
             static const AZ::EBusHandlerPolicy HandlerPolicy = AZ::EBusHandlerPolicy::Multiple;
 
diff --git a/Gems/AtomLyIntegration/CommonFeatures/Code/Include/AtomLyIntegration/CommonFeatures/Material/EditorMaterialSystemComponentRequestBus.h b/Gems/AtomLyIntegration/CommonFeatures/Code/Include/AtomLyIntegration/CommonFeatures/Material/EditorMaterialSystemComponentRequestBus.h
index 059e6dec8e..0bf93fc56f 100644
--- a/Gems/AtomLyIntegration/CommonFeatures/Code/Include/AtomLyIntegration/CommonFeatures/Material/EditorMaterialSystemComponentRequestBus.h
+++ b/Gems/AtomLyIntegration/CommonFeatures/Code/Include/AtomLyIntegration/CommonFeatures/Material/EditorMaterialSystemComponentRequestBus.h
@@ -17,7 +17,8 @@ namespace AZ
 {
     namespace Render
     {
-        //! EditorMaterialSystemComponentRequests provides an interface to communicate with MaterialEditor
+        //! EditorMaterialSystemComponentRequests provides an interface for interacting with EditorMaterialSystemComponent, performing
+        //! different operations like opening the material editor, the material instance inspector, and managing material preview images
         class EditorMaterialSystemComponentRequests : public AZ::EBusTraits
         {
         public:
@@ -35,6 +36,10 @@ namespace AZ
             //! Generate a material preview image
             virtual void RenderMaterialPreview(
                 const AZ::EntityId& entityId, const AZ::Render::MaterialAssignmentId& materialAssignmentId) = 0;
+
+            //! Get recently rendered material preview image
+            virtual QPixmap GetRenderedMaterialPreview(
+                const AZ::EntityId& entityId, const AZ::Render::MaterialAssignmentId& materialAssignmentId) const = 0;
         };
         using EditorMaterialSystemComponentRequestBus = AZ::EBus<EditorMaterialSystemComponentRequests>;
     } // namespace Render
diff --git a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponent.cpp b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponent.cpp
index 8e5e7e2345..a3ae61b14b 100644
--- a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponent.cpp
+++ b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponent.cpp
@@ -148,11 +148,13 @@ namespace AZ
             BaseClass::Activate();
             MaterialReceiverNotificationBus::Handler::BusConnect(GetEntityId());
             MaterialComponentNotificationBus::Handler::BusConnect(GetEntityId());
+            EditorMaterialSystemComponentNotificationBus::Handler::BusConnect();
             UpdateMaterialSlots();
         }
 
         void EditorMaterialComponent::Deactivate()
         {
+            EditorMaterialSystemComponentNotificationBus::Handler::BusDisconnect();
             MaterialReceiverNotificationBus::Handler::BusDisconnect();
             MaterialComponentNotificationBus::Handler::BusDisconnect();
             BaseClass::Deactivate();
@@ -260,6 +262,18 @@ namespace AZ
             }
         }
 
+        void EditorMaterialComponent::OnRenderMaterialPreviewComplete(
+            [[maybe_unused]] const AZ::EntityId& entityId,
+            [[maybe_unused]] const AZ::Render::MaterialAssignmentId& materialAssignmentId,
+            [[maybe_unused]] const QPixmap& pixmap)
+        {
+            if (entityId == GetEntityId())
+            {
+                AzToolsFramework::ToolsApplicationEvents::Bus::Broadcast(
+                    &AzToolsFramework::ToolsApplicationEvents::InvalidatePropertyDisplay, AzToolsFramework::Refresh_AttributesAndValues);
+            }
+        }
+
         AZ::u32 EditorMaterialComponent::OnConfigurationChanged()
         {
             return AZ::Edit::PropertyRefreshLevels::AttributesAndValues;
diff --git a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponent.h b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponent.h
index f8895d994f..ce21ae82ac 100644
--- a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponent.h
+++ b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponent.h
@@ -9,6 +9,7 @@
 #pragma once
 
 #include <Atom/Feature/Utils/EditorRenderComponentAdapter.h>
+#include <AtomLyIntegration/CommonFeatures/Material/EditorMaterialSystemComponentNotificationBus.h>
 #include <AtomLyIntegration/CommonFeatures/Material/MaterialComponentBus.h>
 #include <AtomLyIntegration/CommonFeatures/Material/MaterialComponentConstants.h>
 #include <Material/EditorMaterialComponentSlot.h>
@@ -21,8 +22,9 @@ namespace AZ
         //! In-editor material component for displaying and editing material assignments.
         class EditorMaterialComponent final
             : public EditorRenderComponentAdapter<MaterialComponentController, MaterialComponent, MaterialComponentConfig>
-            , private MaterialReceiverNotificationBus::Handler
-            , private MaterialComponentNotificationBus::Handler
+            , public MaterialReceiverNotificationBus::Handler
+            , public MaterialComponentNotificationBus::Handler
+            , public EditorMaterialSystemComponentNotificationBus::Handler
         {
         public:
             using BaseClass = EditorRenderComponentAdapter<MaterialComponentController, MaterialComponent, MaterialComponentConfig>;
@@ -52,6 +54,10 @@ namespace AZ
             //! MaterialComponentNotificationBus::Handler overrides...
             void OnMaterialInstanceCreated(const MaterialAssignment& materialAssignment) override;
 
+            //! EditorMaterialSystemComponentNotificationBus::Handler overrides...
+            void OnRenderMaterialPreviewComplete(
+                const AZ::EntityId& entityId, const AZ::Render::MaterialAssignmentId& materialAssignmentId, const QPixmap& pixmap) override;
+
             // Regenerates the editor component material slots based on the material and
             // LOD mapping from the model or other consumer of materials.
             // If any corresponding material assignments are found in the component
diff --git a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentInspector.cpp b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentInspector.cpp
index 7562049031..9cf39483fe 100644
--- a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentInspector.cpp
+++ b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentInspector.cpp
@@ -170,6 +170,7 @@ namespace AZ
 
                 m_overviewImage = new QLabel(this);
                 m_overviewImage->setFixedSize(QSize(120, 120));
+                m_overviewImage->setScaledContents(true);
                 m_overviewImage->setVisible(false);
 
                 m_overviewText = new QLabel(this);
@@ -241,8 +242,14 @@ namespace AZ
 
                 m_overviewText->setText(materialInfo);
                 m_overviewText->setAlignment(Qt::AlignLeading | Qt::AlignLeft | Qt::AlignTop);
+
+                QPixmap pixmap;
+                EditorMaterialSystemComponentRequestBus::BroadcastResult(
+                    pixmap, &EditorMaterialSystemComponentRequestBus::Events::GetRenderedMaterialPreview, m_entityId,
+                    m_materialAssignmentId);
+                m_overviewImage->setPixmap(pixmap);
                 m_overviewImage->setVisible(true);
-                m_updatePreview = true;
+                m_updatePreview |= pixmap.isNull();
             }
 
             void MaterialPropertyInspector::AddUvNamesGroup()
@@ -400,7 +407,8 @@ namespace AZ
                     m_internalEditNotification = false;
                 }
 
-                m_updatePreview = true;
+                // m_updatePreview should be set to true here for continuous preview updates as slider/color properties change but needs
+                // throttling
             }
 
             void MaterialPropertyInspector::RunEditorMaterialFunctors()
@@ -779,5 +787,3 @@ namespace AZ
         } // namespace EditorMaterialComponentInspector
     } // namespace Render
 } // namespace AZ
-
-//#include <AtomLyIntegration/CommonFeatures/moc_EditorMaterialComponentInspector.cpp>
diff --git a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentInspector.h b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentInspector.h
index 6199fba179..82f46ebc90 100644
--- a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentInspector.h
+++ b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentInspector.h
@@ -32,8 +32,6 @@ namespace AZ
     {
         namespace EditorMaterialComponentInspector
         {
-            using PropertyChangedCallback = AZStd::function<void(const MaterialPropertyOverrideMap&)>;
-
             class MaterialPropertyInspector
                 : public AtomToolsFramework::InspectorWidget
                 , public AzToolsFramework::IPropertyEditorNotify
diff --git a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentSlot.cpp b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentSlot.cpp
index 21d045a072..d65fd0f2af 100644
--- a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentSlot.cpp
+++ b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentSlot.cpp
@@ -6,23 +6,25 @@
  *
  */
 
-#include <Material/EditorMaterialComponentSlot.h>
-#include <Material/EditorMaterialComponentExporter.h>
-#include <Material/EditorMaterialComponentInspector.h>
-#include <Material/EditorMaterialModelUvNameMapInspector.h>
-#include <AzCore/Asset/AssetSerializer.h>
-#include <AzCore/Serialization/SerializeContext.h>
-#include <AzCore/Serialization/EditContext.h>
-#include <AzCore/RTTI/BehaviorContext.h>
-#include <AzToolsFramework/API/ToolsApplicationAPI.h>
 #include <Atom/RPI.Edit/Common/AssetUtils.h>
 #include <Atom/RPI.Edit/Material/MaterialSourceData.h>
 #include <AtomLyIntegration/CommonFeatures/Material/EditorMaterialSystemComponentRequestBus.h>
+#include <AzCore/Asset/AssetSerializer.h>
+#include <AzCore/RTTI/BehaviorContext.h>
+#include <AzCore/Serialization/EditContext.h>
+#include <AzCore/Serialization/SerializeContext.h>
+#include <AzToolsFramework/API/ToolsApplicationAPI.h>
+#include <Material/EditorMaterialComponentExporter.h>
+#include <Material/EditorMaterialComponentInspector.h>
+#include <Material/EditorMaterialComponentSlot.h>
+#include <Material/EditorMaterialModelUvNameMapInspector.h>
 
 AZ_PUSH_DISABLE_WARNING(4251 4800, "-Wunknown-warning-option") // disable warnings spawned by QT
-#include <QMenu>
-#include <QAction> 
+#include <QAction>
+#include <QByteArray>
 #include <QCursor>
+#include <QDataStream>
+#include <QMenu>
 AZ_POP_DISABLE_WARNING
 
 namespace AZ
@@ -100,6 +102,7 @@ namespace AZ
                             ->Attribute(AZ::Edit::Attributes::NameLabelOverride, &EditorMaterialComponentSlot::GetLabel)
                             ->Attribute(AZ::Edit::Attributes::ShowProductAssetFileName, true)
                             ->Attribute("ThumbnailCallback", &EditorMaterialComponentSlot::OpenPopupMenu)
+                            ->Attribute("ThumbnailIcon", &EditorMaterialComponentSlot::GetPreviewPixmapData)
                         ;
                 }
             }
@@ -118,6 +121,33 @@ namespace AZ
             }
         };
 
+        AZStd::vector<char> EditorMaterialComponentSlot::GetPreviewPixmapData() const
+        {
+            if (!GetActiveAssetId().IsValid())
+            {
+                return {};
+            }
+
+            QPixmap pixmap;
+            EditorMaterialSystemComponentRequestBus::BroadcastResult(
+                pixmap, &EditorMaterialSystemComponentRequestBus::Events::GetRenderedMaterialPreview, m_entityId, m_id);
+            if (pixmap.isNull())
+            {
+                if (m_updatePreview)
+                {
+                    EditorMaterialSystemComponentRequestBus::Broadcast(
+                        &EditorMaterialSystemComponentRequestBus::Events::RenderMaterialPreview, m_entityId, m_id);
+                    m_updatePreview = false;
+                }
+                return {};
+            }
+
+            QByteArray pixmapBytes;
+            QDataStream stream(&pixmapBytes, QIODevice::WriteOnly);
+            stream << pixmap;
+            return AZStd::vector<char>(pixmapBytes.begin(), pixmapBytes.end());
+        }
+
         AZ::Data::AssetId EditorMaterialComponentSlot::GetActiveAssetId() const
         {
             return m_materialAsset.GetId().IsValid() ? m_materialAsset.GetId() : GetDefaultAssetId();
@@ -169,14 +199,6 @@ namespace AZ
             ClearOverrides();
         }
 
-        void EditorMaterialComponentSlot::ClearToDefaultAsset()
-        {
-            m_materialAsset = AZ::Data::Asset<AZ::RPI::MaterialAsset>(GetDefaultAssetId(), AZ::AzTypeInfo<AZ::RPI::MaterialAsset>::Uuid());
-            MaterialComponentRequestBus::Event(
-                m_entityId, &MaterialComponentRequestBus::Events::SetMaterialOverride, m_id, m_materialAsset.GetId());
-            ClearOverrides();
-        }
-
         void EditorMaterialComponentSlot::ClearOverrides()
         {
             MaterialComponentRequestBus::Event(
@@ -317,6 +339,7 @@ namespace AZ
 
             EditorMaterialSystemComponentRequestBus::Broadcast(
                 &EditorMaterialSystemComponentRequestBus::Events::RenderMaterialPreview, m_entityId, m_id);
+            m_updatePreview = false;
 
             MaterialComponentNotificationBus::Event(m_entityId, &MaterialComponentNotifications::OnMaterialsEdited);
 
diff --git a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentSlot.h b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentSlot.h
index 377fe9a18b..78fc7449de 100644
--- a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentSlot.h
+++ b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialComponentSlot.h
@@ -8,37 +8,52 @@
 
 #pragma once
 
-#include <AzCore/std/string/string.h>
-#include <AzCore/std/containers/vector.h>
-
-#include <AzCore/Asset/AssetCommon.h>
-#include <Atom/RPI.Reflect/Material/MaterialAsset.h>
 #include <Atom/Feature/Material/MaterialAssignment.h>
+#include <Atom/RPI.Reflect/Material/MaterialAsset.h>
+#include <AzCore/Asset/AssetCommon.h>
+#include <AzCore/std/containers/vector.h>
+#include <AzCore/std/string/string.h>
+#include <QPixmap>
 
 namespace AZ
 {
     namespace Render
     {
-        static const size_t DefaultMaterialSlotIndex = std::numeric_limits<size_t>::max();
-
         //! Details for a single editable material assignment
         struct EditorMaterialComponentSlot final
         {
             AZ_RTTI(EditorMaterialComponentSlot, "{344066EB-7C3D-4E92-B53D-3C9EBD546488}");
             AZ_CLASS_ALLOCATOR(EditorMaterialComponentSlot, SystemAllocator, 0);
 
-            static void Reflect(ReflectContext* context);
             static bool ConvertVersion(AZ::SerializeContext& context, AZ::SerializeContext::DataElementNode& classElement);
+            static void Reflect(ReflectContext* context);
 
+            //! Get cached preview image as a buffer to use as an RPE attribute
+            //! If a cached image isn't avalible then a request will be made to render one
+            AZStd::vector<char> GetPreviewPixmapData() const;
+
+            //! Returns the overridden asset id if it's valid, otherwise gets the default asseet id
             AZ::Data::AssetId GetActiveAssetId() const;
+
+            //! Returns the default asseet id of the material provded by the model
             AZ::Data::AssetId GetDefaultAssetId() const;
+
+            //! Returns the display name of the material slot
             AZStd::string GetLabel() const;
+
+            //! Returns true if the active material asset has a source material
             bool HasSourceData() const;
 
+            //! Assign a new material override asset
             void SetAsset(const Data::AssetId& assetId);
+
+            //! Assign a new material override asset
             void SetAsset(const Data::Asset<RPI::MaterialAsset>& asset);
+
+            //! Remove material and prperty overrides
             void Clear();
-            void ClearToDefaultAsset();
+
+            //! Remove prperty overrides
             void ClearOverrides();
 
             void OpenMaterialExporter();
@@ -54,6 +69,7 @@ namespace AZ
             void OpenPopupMenu(const AZ::Data::AssetId& assetId, const AZ::Data::AssetType& assetType);
             void OnMaterialChanged() const;
             void OnDataChanged() const;
+            mutable bool m_updatePreview = true;
         };
 
         // Vector of slots for assignable or overridable material data.
@@ -62,8 +78,8 @@ namespace AZ
         // Table containing all editable material data that is displayed in the edit context and inspector
         // The vector represents all the LODs that can have material overrides.
         // The container will be populated with every potential material slot on an associated model, using its default values.
-        // Whenever changes are made to this container, the modified values are copied into the controller configuration material assignment map
-        // as overrides that will be applied to material instances
+        // Whenever changes are made to this container, the modified values are copied into the controller configuration material assignment
+        // map as overrides that will be applied to material instances
         using EditorMaterialComponentSlotsByLodContainer = AZStd::vector<EditorMaterialComponentSlotContainer>;
     } // namespace Render
 } // namespace AZ
diff --git a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialSystemComponent.cpp b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialSystemComponent.cpp
index 96a8e3e8d4..0939c8548b 100644
--- a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialSystemComponent.cpp
+++ b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialSystemComponent.cpp
@@ -88,6 +88,7 @@ namespace AZ
 
         void EditorMaterialSystemComponent::Activate()
         {
+            EditorMaterialSystemComponentNotificationBus::Handler::BusConnect();
             EditorMaterialSystemComponentRequestBus::Handler::BusConnect();
             AzToolsFramework::AssetBrowser::AssetBrowserInteractionNotificationBus::Handler::BusConnect();
             AzToolsFramework::EditorMenuNotificationBus::Handler::BusConnect();
@@ -100,6 +101,7 @@ namespace AZ
         {
             AzFramework::ApplicationLifecycleEvents::Bus::Handler::BusDisconnect();
             AzFramework::AssetCatalogEventBus::Handler::BusDisconnect();
+            EditorMaterialSystemComponentNotificationBus::Handler::BusDisconnect();
             EditorMaterialSystemComponentRequestBus::Handler::BusDisconnect();
             AzToolsFramework::AssetBrowser::AssetBrowserInteractionNotificationBus::Handler::BusDisconnect();
             AzToolsFramework::EditorMenuNotificationBus::Handler::BusDisconnect();
@@ -167,6 +169,10 @@ namespace AZ
                 {
                     MaterialComponentRequestBus::EventResult(
                         materialAssetId, entityId, &MaterialComponentRequestBus::Events::GetDefaultMaterialAssetId, materialAssignmentId);
+                    if (!materialAssetId.IsValid())
+                    {
+                        return;
+                    }
                 }
 
                 AZ::Render::MaterialPropertyOverrideMap propertyOverrides;
@@ -193,6 +199,29 @@ namespace AZ
             }
         }
 
+        QPixmap EditorMaterialSystemComponent::GetRenderedMaterialPreview(
+            const AZ::EntityId& entityId, const AZ::Render::MaterialAssignmentId& materialAssignmentId) const
+        {
+            const auto& itr1 = m_materialPreviews.find(entityId);
+            if (itr1 != m_materialPreviews.end())
+            {
+                const auto& itr2 = itr1->second.find(materialAssignmentId);
+                if (itr2 != itr1->second.end())
+                {
+                    return itr2->second;
+                }
+            }
+            return QPixmap();
+        }
+
+        void EditorMaterialSystemComponent::OnRenderMaterialPreviewComplete(
+            [[maybe_unused]] const AZ::EntityId& entityId,
+            [[maybe_unused]] const AZ::Render::MaterialAssignmentId& materialAssignmentId,
+            [[maybe_unused]] const QPixmap& pixmap)
+        {
+            m_materialPreviews[entityId][materialAssignmentId] = pixmap;
+        }
+
         void EditorMaterialSystemComponent::OnPopulateToolMenuItems()
         {
             if (!m_openMaterialEditorAction)
diff --git a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialSystemComponent.h b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialSystemComponent.h
index f2ccbdc435..e62c9b64dc 100644
--- a/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialSystemComponent.h
+++ b/Gems/AtomLyIntegration/CommonFeatures/Code/Source/Material/EditorMaterialSystemComponent.h
@@ -16,6 +16,7 @@
 #include <AzToolsFramework/AssetBrowser/AssetBrowserBus.h>
 #include <AzToolsFramework/Viewport/ActionBus.h>
 #include <Material/MaterialBrowserInteractions.h>
+#include <QPixmap>
 
 namespace AZ
 {
@@ -24,6 +25,7 @@ namespace AZ
         //! System component that manages launching and maintaining connections with the material editor.
         class EditorMaterialSystemComponent final
             : public AZ::Component
+            , public EditorMaterialSystemComponentNotificationBus::Handler
             , public EditorMaterialSystemComponentRequestBus::Handler
             , public AzToolsFramework::AssetBrowser::AssetBrowserInteractionNotificationBus::Handler
             , public AzToolsFramework::EditorMenuNotificationBus::Handler
@@ -50,8 +52,13 @@ namespace AZ
             //! EditorMaterialSystemComponentRequestBus::Handler overrides...
             void OpenMaterialEditor(const AZStd::string& sourcePath) override;
             void OpenMaterialInspector(const AZ::EntityId& entityId, const AZ::Render::MaterialAssignmentId& materialAssignmentId) override;
-            void RenderMaterialPreview(
-                const AZ::EntityId& entityId, const AZ::Render::MaterialAssignmentId& materialAssignmentId) override;
+            void RenderMaterialPreview(const AZ::EntityId& entityId, const AZ::Render::MaterialAssignmentId& materialAssignmentId) override;
+            QPixmap GetRenderedMaterialPreview(
+                const AZ::EntityId& entityId, const AZ::Render::MaterialAssignmentId& materialAssignmentId) const override;
+
+            //! EditorMaterialSystemComponentNotificationBus::Handler overrides...
+            void OnRenderMaterialPreviewComplete(
+                const AZ::EntityId& entityId, const AZ::Render::MaterialAssignmentId& materialAssignmentId, const QPixmap& pixmap)override;
 
             //! AssetBrowserInteractionNotificationBus::Handler overrides...
             AzToolsFramework::AssetBrowser::SourceFileDetails GetSourceFileDetails(const char* fullSourceFileName) override;
@@ -73,6 +80,7 @@ namespace AZ
             QAction* m_openMaterialEditorAction = nullptr;
             AZStd::unique_ptr<MaterialBrowserInteractions> m_materialBrowserInteractions;
             AZStd::unique_ptr<AtomToolsFramework::PreviewRenderer> m_previewRenderer;
+            AZStd::unordered_map<AZ::EntityId, AZStd::unordered_map<AZ::Render::MaterialAssignmentId, QPixmap>> m_materialPreviews;
         };
     } // namespace Render
 } // namespace AZ