diff --git a/Code/Framework/AzToolsFramework/AzToolsFramework/UI/PropertyEditor/PropertyAssetCtrl.cpp b/Code/Framework/AzToolsFramework/AzToolsFramework/UI/PropertyEditor/PropertyAssetCtrl.cpp
index 24b2c7466e..e97be57470 100644
--- a/Code/Framework/AzToolsFramework/AzToolsFramework/UI/PropertyEditor/PropertyAssetCtrl.cpp
+++ b/Code/Framework/AzToolsFramework/AzToolsFramework/UI/PropertyEditor/PropertyAssetCtrl.cpp
@@ -1072,10 +1072,10 @@ namespace AzToolsFramework
             RefreshAutocompleter();
         }
 
-        // When focus is lost, clear the field if necessary
+        // When focus is lost, revert to the selected asset
         if (!focus && m_incompleteFilename)
         {
-            HandleFieldClear();
+            SetSelectedAssetID(GetCurrentAssetID());
         }
     }