diff --git a/lib/phoenix_component.ex b/lib/phoenix_component.ex
index 943b92e4cb..03ec372397 100644
--- a/lib/phoenix_component.ex
+++ b/lib/phoenix_component.ex
@@ -1313,6 +1313,50 @@ defmodule Phoenix.Component do
     raise_bad_socket_or_assign!("assign_new/3", assigns)
   end
 
+  @doc """
+  Assigns the given `key` with value from `fun` into `socket` if one does not yet exist
+  or if any of the dependencies have changed.
+
+  This function is similar to `assign_new/3` but adds support for dependencies. When any
+  of the dependencies listed in `deps` have changed (as tracked by the socket's `__changed__`
+  map), the function will be called to compute a new value for `key`.
+
+  This is particularly useful for extracting common logic that depends on certain assigns
+  and needs to be recomputed only when those specific assigns change. It helps write
+  in a more declarative style by allowing the same function to be called in multiple
+  event handlers.
+
+  ## Examples
+
+  Imagine a LiveView that loads a user based on a user_id, and needs to recompute
+  user-related data whenever the user_id changes:
+
+      # In your LiveView module
+      def mount(_params, _session, socket) do
+        {:ok, assign(socket, user_id: nil) |> load_user_data()}
+      end
+
+      def handle_event("select_user", %{"id" => user_id}, socket) do
+        {:noreply, assign(socket, user_id: user_id) |> assign_dependencies()}
+      end
+
+      # This shared function keeps all dependent data in sync
+      # It will only recompute values when their dependencies change
+      defp assign_dependencies(socket) do
+        socket
+        |> assign_new(:user, [:user_id], &load_user(&1.user_id))
+      end
+
+  In this example, `:user` will be recomputed whenever `:user_id` changes.
+
+  The function can be either a zero-arity function or a one-arity function that receives
+  the current assigns.
+  """
+  def assign_new(%Socket{} = socket, key, deps, fun) when is_list(deps) do
+    validate_assign_key!(key)
+    Phoenix.LiveView.Utils.assign_new(socket, key, deps, fun)
+  end
+
   defp raise_bad_socket_or_assign!(name, assigns) do
     extra =
       case assigns do
diff --git a/lib/phoenix_live_view/utils.ex b/lib/phoenix_live_view/utils.ex
index 245a89428b..d68b5dd726 100644
--- a/lib/phoenix_live_view/utils.ex
+++ b/lib/phoenix_live_view/utils.ex
@@ -83,6 +83,74 @@ defmodule Phoenix.LiveView.Utils do
     end
   end
 
+  @doc """
+  Assigns the given `key` with value from `fun` into `socket` if one does not yet exist
+  or if any of the dependencies have changed.
+
+  This function is particularly useful for computing derived values that depend on other assigns.
+  When any of the dependencies listed in `deps` have changed (as tracked by the socket's `__changed__`
+  map), the function will be called to compute a new value for `key`.
+
+  ## Example
+
+  Imagine a LiveView that manages a user profile where we need to fetch user data when the user ID changes.
+  We can factor out the refresh logic into a common function:
+
+      def mount(_params, _session, socket) do
+        {:ok, assign(socket, :user_id, nil) |> refresh_assigns()}
+      end
+
+      def handle_event("select_user", %{"id" => user_id}, socket) do
+        {:noreply, socket |> assign(:user_id, user_id) |> refresh_assigns()}
+      end
+
+      def handle_event("update_profile", params, socket) do
+        {:noreply, socket |> handle_profile_update(params) |> refresh_assigns()}
+      end
+
+      def handle_params(%{"user_id" => user_id}, _uri, socket) do
+        {:noreply, socket |> assign(:user_id, user_id) |> refresh_assigns()}
+      end
+
+      # Centralized refresh function that can be called from any event handler
+      defp refresh_assigns(socket) do
+        socket
+        |> assign_new(:user, [:user_id], &fetch_user_data/1)
+      end
+
+      defp fetch_user_data(%{user_id: user_id}) when is_nil(user_id), do: nil
+      defp fetch_user_data(%{user_id: user_id}) do
+        # This expensive database query only runs when user_id changes
+        Repo.get(User, user_id)
+      end
+
+  In this example, we've factored out the assign refresh logic into a common `refresh_assigns/1` 
+  function that we can call from any event handler or callback. The `user` struct is only fetched 
+  when `user_id` changes, even though we call `refresh_assigns/1` in multiple places.
+
+  This approach keeps your code DRY and ensures expensive operations only run when necessary.
+  """
+  def assign_new(%Socket{} = socket, key, deps, fun)
+      when is_list(deps) and
+             (is_function(fun, 0) or is_function(fun, 1)) do
+    # If any dependency has changed, always recompute the value
+    if deps_in_changed?(socket, deps) do
+      case fun do
+        fun when is_function(fun, 1) -> force_assign(socket, key, fun.(socket.assigns))
+        fun when is_function(fun, 0) -> force_assign(socket, key, fun.())
+      end
+    else
+      # Otherwise, use the standard assign_new behavior
+      assign_new(socket, key, fun)
+    end
+  end
+
+  defp deps_in_changed?(%Socket{assigns: %{__changed__: changed}}, deps) when is_map(changed) do
+    Enum.any?(deps, &Map.has_key?(changed, &1))
+  end
+
+  defp deps_in_changed?(%Socket{}, _deps), do: false
+
   @doc """
   Forces an assign on a socket.
   """
diff --git a/test/phoenix_component_test.exs b/test/phoenix_component_test.exs
index 964f20e1df..8efffdaf95 100644
--- a/test/phoenix_component_test.exs
+++ b/test/phoenix_component_test.exs
@@ -170,6 +170,124 @@ defmodule Phoenix.ComponentUnitTest do
     end
   end
 
+  describe "assign_new with dependencies" do
+    test "recomputes value when dependencies change" do
+      socket =
+        @socket
+        |> assign(user_id: 123)
+        |> assign_new(:user, [:user_id], fn %{user_id: user_id} -> "User #{user_id}" end)
+
+      assert socket.assigns.user == "User 123"
+
+      # Change a dependency
+      socket =
+        socket
+        |> Utils.clear_changed()
+        |> assign(user_id: 456)
+        |> assign_new(:user, [:user_id], fn %{user_id: user_id} -> "User #{user_id}" end)
+
+      assert socket.assigns.user == "User 456"
+      assert changed?(socket, :user)
+    end
+
+    test "doesn't recompute when dependencies don't change" do
+      socket =
+        @socket
+        |> assign(user_id: 123, counter: 0)
+        |> assign_new(:user, [:user_id], fn %{user_id: user_id} -> "User #{user_id}" end)
+
+      assert socket.assigns.user == "User 123"
+
+      # Change an unrelated assign
+      socket =
+        socket
+        |> Utils.clear_changed()
+        |> assign(counter: 1)
+        |> assign_new(:user, [:user_id], fn %{user_id: user_id} -> "User #{user_id}" end)
+
+      assert socket.assigns.user == "User 123"
+      refute changed?(socket, :user)
+    end
+
+    test "works with zero-arity functions" do
+      socket =
+        @socket
+        |> assign(user_id: 123)
+        |> assign_new(:random_value, [:user_id], fn -> :rand.uniform(100) end)
+
+      assert is_integer(socket.assigns.random_value)
+      assert socket.assigns.random_value > 0 && socket.assigns.random_value <= 100
+
+      # Change a dependency
+      socket =
+        socket
+        |> Utils.clear_changed()
+        |> assign(user_id: 456)
+        |> assign_new(:random_value, [:user_id], fn -> :rand.uniform(100) end)
+
+      # Value should be recomputed
+      assert is_integer(socket.assigns.random_value)
+      assert socket.assigns.random_value > 0 && socket.assigns.random_value <= 100
+      # It's theoretically possible but extremely unlikely that we'd get the same random number
+      assert changed?(socket, :random_value)
+    end
+
+    test "works with multiple dependencies" do
+      socket =
+        @socket
+        |> assign(first_name: "John", last_name: "Doe")
+        |> assign_new(:full_name, [:first_name, :last_name], fn %{first_name: first, last_name: last} -> 
+          "#{first} #{last}" 
+        end)
+
+      assert socket.assigns.full_name == "John Doe"
+
+      # Change first dependency
+      socket =
+        socket
+        |> Utils.clear_changed()
+        |> assign(first_name: "Jane")
+        |> assign_new(:full_name, [:first_name, :last_name], fn %{first_name: first, last_name: last} -> 
+          "#{first} #{last}" 
+        end)
+
+      assert socket.assigns.full_name == "Jane Doe"
+      assert changed?(socket, :full_name)
+
+      # Change second dependency
+      socket =
+        socket
+        |> Utils.clear_changed()
+        |> assign(last_name: "Smith")
+        |> assign_new(:full_name, [:first_name, :last_name], fn %{first_name: first, last_name: last} -> 
+          "#{first} #{last}" 
+        end)
+
+      assert socket.assigns.full_name == "Jane Smith"
+      assert changed?(socket, :full_name)
+    end
+
+    test "behaves like assign_new when key doesn't exist" do
+      socket =
+        @socket
+        |> assign(user_id: 123)
+        |> assign_new(:user, [:user_id], fn %{user_id: user_id} -> "User #{user_id}" end)
+
+      assert socket.assigns.user == "User 123"
+      assert changed?(socket, :user)
+    end
+
+    test "uses parent assigns when present" do
+      socket =
+        put_in(@socket.private[:assign_new], {%{user_id: 999}, []})
+        |> assign(user_id: 123)
+        |> assign_new(:user, [:user_id], fn %{user_id: user_id} -> "User #{user_id}" end)
+
+      assert socket.assigns.user == "User 123"
+      assert changed?(socket, :user)
+    end
+  end
+
   describe "assign_new with assigns" do
     test "tracks changes" do
       assigns = assign_new(@assigns_changes, :key, fn -> raise "won't be invoked" end)
diff --git a/test/phoenix_live_view/integrations/assigns_test.exs b/test/phoenix_live_view/integrations/assigns_test.exs
index 9fd2debce0..553420c87c 100644
--- a/test/phoenix_live_view/integrations/assigns_test.exs
+++ b/test/phoenix_live_view/integrations/assigns_test.exs
@@ -50,6 +50,38 @@ defmodule Phoenix.LiveView.AssignsTest do
     end
   end
 
+  describe "assign_new with dependencies" do
+    test "recomputes value when dependencies change", %{conn: conn} do
+      {:ok, view, _html} = live(conn, "/deps")
+      
+      # Initial state
+      assert render(view) =~ "user_id: 123"
+      assert render(view) =~ "user_name: User 123"
+      
+      # Update user_id which should trigger recomputation of user_name
+      view |> element("button", "Change User ID") |> render_click()
+      
+      assert render(view) =~ "user_id: 456"
+      assert render(view) =~ "user_name: User 456"
+    end
+    
+    test "doesn't recompute when dependencies don't change", %{conn: conn} do
+      {:ok, view, _html} = live(conn, "/deps")
+      
+      # Initial state
+      assert render(view) =~ "counter: 0"
+      assert render(view) =~ "user_id: 123"
+      assert render(view) =~ "user_name: User 123"
+      
+      # Update counter which should not trigger recomputation of user_name
+      view |> element("button", "Increment Counter") |> render_click()
+      
+      assert render(view) =~ "counter: 1"
+      assert render(view) =~ "user_id: 123"
+      assert render(view) =~ "user_name: User 123"
+    end
+  end
+
   describe "temporary assigns" do
     test "can be configured with mount options", %{conn: conn} do
       {:ok, conf_live, html} =
diff --git a/test/support/live_views/deps_live.ex b/test/support/live_views/deps_live.ex
new file mode 100644
index 0000000000..eceaf4fc04
--- /dev/null
+++ b/test/support/live_views/deps_live.ex
@@ -0,0 +1,44 @@
+defmodule Phoenix.LiveViewTest.Support.DepsLive do
+  use Phoenix.LiveView
+
+  def render(assigns) do
+    ~H"""
+    <div>
+      <div>counter: <%= @counter %></div>
+      <div>user_id: <%= @user_id %></div>
+      <div>user_name: <%= @user_name %></div>
+      <button phx-click="increment">Increment Counter</button>
+      <button phx-click="change_user_id">Change User ID</button>
+    </div>
+    """
+  end
+
+  def mount(_params, _session, socket) do
+    socket =
+      socket
+      |> assign(:counter, 0)
+      |> assign(:user_id, 123)
+      |> assign_new(:user_name, [:user_id], fn %{user_id: user_id} ->
+        # In a real app, this would be a database query
+        "User #{user_id}"
+      end)
+
+    {:ok, socket}
+  end
+
+  def handle_event("increment", _, socket) do
+    {:noreply, update(socket, :counter, &(&1 + 1))}
+  end
+
+  def handle_event("change_user_id", _, socket) do
+    socket =
+      socket
+      |> assign(:user_id, 456)
+      |> assign_new(:user_name, [:user_id], fn %{user_id: user_id} ->
+        # In a real app, this would be a database query
+        "User #{user_id}"
+      end)
+
+    {:noreply, socket}
+  end
+end
diff --git a/test/support/router.ex b/test/support/router.ex
index 1192591421..d60c872a3a 100644
--- a/test/support/router.ex
+++ b/test/support/router.ex
@@ -36,6 +36,7 @@ defmodule Phoenix.LiveViewTest.Support.Router do
     live "/same-child", SameChildLive
     live "/root", RootLive
     live "/opts", OptsLive
+    live "/deps", DepsLive
     live "/shuffle", ShuffleLive
     live "/components", WithComponentLive
     live "/multi-targets", WithMultipleTargets