diff --git a/integration-tests/http/__tests__/product/admin/product-import.spec.ts b/integration-tests/http/__tests__/product/admin/product-import.spec.ts
index 873a507206..5fc1723c92 100644
--- a/integration-tests/http/__tests__/product/admin/product-import.spec.ts
+++ b/integration-tests/http/__tests__/product/admin/product-import.spec.ts
@@ -217,7 +217,20 @@ medusaIntegrationTestRunner({
                   title: "Test variant 2",
                   allow_backorder: false,
                   manage_inventory: true,
-                  // TODO: Since we are doing a product update, there won't be any prices created for the variant
+                  prices: [
+                    expect.objectContaining({
+                      currency_code: "usd",
+                      amount: 200,
+                    }),
+                    expect.objectContaining({
+                      currency_code: "eur",
+                      amount: 65,
+                    }),
+                    expect.objectContaining({
+                      currency_code: "dkk",
+                      amount: 50,
+                    }),
+                  ],
                   options: [
                     expect.objectContaining({
                       value: "small",
diff --git a/integration-tests/http/__tests__/product/admin/product.spec.ts b/integration-tests/http/__tests__/product/admin/product.spec.ts
index 976c8fe496..14578f4200 100644
--- a/integration-tests/http/__tests__/product/admin/product.spec.ts
+++ b/integration-tests/http/__tests__/product/admin/product.spec.ts
@@ -1390,7 +1390,20 @@ medusaIntegrationTestRunner({
                 barcode: "test-barcode",
                 ean: "test-ean",
                 upc: "test-upc",
-                // BREAKING: Price updates are no longer supported through the product update endpoint. There is a batch variants endpoint for this purpose
+                prices: [
+                  {
+                    currency_code: "usd",
+                    amount: 200,
+                  },
+                  {
+                    currency_code: "eur",
+                    amount: 65,
+                  },
+                  {
+                    currency_code: "dkk",
+                    amount: 50,
+                  },
+                ],
               },
             ],
             tags: [{ value: "123" }],
@@ -1478,10 +1491,20 @@ medusaIntegrationTestRunner({
                   origin_country: null,
                   prices: expect.arrayContaining([
                     expect.objectContaining({
-                      amount: 100,
+                      amount: 200,
                       created_at: expect.any(String),
                       currency_code: "usd",
                     }),
+                    expect.objectContaining({
+                      amount: 65,
+                      created_at: expect.any(String),
+                      currency_code: "eur",
+                    }),
+                    expect.objectContaining({
+                      amount: 50,
+                      created_at: expect.any(String),
+                      currency_code: "dkk",
+                    }),
                   ]),
                   product_id: baseProduct.id,
                   title: "New variant",
@@ -1492,6 +1515,88 @@ medusaIntegrationTestRunner({
           )
         })
 
+        it("updates product variants (update price on existing variant, create new variant)", async () => {
+          const payload = {
+            variants: [
+              {
+                id: baseProduct.variants[0].id,
+                prices: [
+                  {
+                    currency_code: "usd",
+                    amount: 200,
+                  },
+                  {
+                    currency_code: "dkk",
+                    amount: 50,
+                  },
+                ],
+              },
+              {
+                title: "New variant",
+                prices: [
+                  {
+                    currency_code: "usd",
+                    amount: 150,
+                  },
+                  {
+                    currency_code: "dkk",
+                    amount: 20,
+                  },
+                ],
+              },
+            ],
+          }
+
+          const response = await api
+            .post(`/admin/products/${baseProduct.id}`, payload, adminHeaders)
+            .catch((err) => {
+              console.log(err)
+            })
+
+          expect(response.status).toEqual(200)
+
+          expect(response.data.product).toEqual(
+            expect.objectContaining({
+              id: baseProduct.id,
+              variants: expect.arrayContaining([
+                expect.objectContaining({
+                  id: baseProduct.variants[0].id,
+                  prices: expect.arrayContaining([
+                    expect.objectContaining({
+                      amount: 200,
+                      created_at: expect.any(String),
+                      currency_code: "usd",
+                    }),
+                    expect.objectContaining({
+                      amount: 50,
+                      created_at: expect.any(String),
+                      currency_code: "dkk",
+                    }),
+                  ]),
+                  product_id: baseProduct.id,
+                }),
+                expect.objectContaining({
+                  id: expect.any(String),
+                  title: "New variant",
+                  prices: expect.arrayContaining([
+                    expect.objectContaining({
+                      amount: 150,
+                      created_at: expect.any(String),
+                      currency_code: "usd",
+                    }),
+                    expect.objectContaining({
+                      amount: 20,
+                      created_at: expect.any(String),
+                      currency_code: "dkk",
+                    }),
+                  ]),
+                  product_id: baseProduct.id,
+                }),
+              ]),
+            })
+          )
+        })
+
         it("updates product (removes images when empty array included)", async () => {
           const payload = {
             images: [],
diff --git a/packages/core/core-flows/src/product/steps/get-variant-ids-for-products.ts b/packages/core/core-flows/src/product/steps/get-variant-ids-for-products.ts
new file mode 100644
index 0000000000..7e1c053017
--- /dev/null
+++ b/packages/core/core-flows/src/product/steps/get-variant-ids-for-products.ts
@@ -0,0 +1,36 @@
+import { StepResponse, createStep } from "@medusajs/workflows-sdk"
+import { UpdateProductsStepInput } from "./update-products"
+import { IProductModuleService } from "@medusajs/types"
+import { ModuleRegistrationName } from "@medusajs/utils"
+
+export const getVariantIdsForProductsStepId = "get-variant-ids-for-products"
+export const getVariantIdsForProductsStep = createStep(
+  getVariantIdsForProductsStepId,
+  async (data: UpdateProductsStepInput, { container }) => {
+    const service = container.resolve<IProductModuleService>(
+      ModuleRegistrationName.PRODUCT
+    )
+    let filters = {}
+    if ("products" in data) {
+      if (!data.products.length) {
+        return new StepResponse([])
+      }
+
+      filters = {
+        id: data.products.map((p) => p.id),
+      }
+    } else {
+      filters = data.selector
+    }
+
+    const products = await service.listProducts(filters, {
+      select: ["variants.id"],
+      relations: ["variants"],
+      take: null,
+    })
+
+    return new StepResponse(
+      products.flatMap((p) => p.variants.map((v) => v.id))
+    )
+  }
+)
diff --git a/packages/core/core-flows/src/product/steps/group-products-for-batch.ts b/packages/core/core-flows/src/product/steps/group-products-for-batch.ts
index 3d1c1c49f9..3b860ed171 100644
--- a/packages/core/core-flows/src/product/steps/group-products-for-batch.ts
+++ b/packages/core/core-flows/src/product/steps/group-products-for-batch.ts
@@ -38,11 +38,6 @@ export const groupProductsForBatchStep = createStep(
             )
           }
 
-          // TODO: Currently the update product workflow doesn't update variant pricing, but we should probably add support for it.
-          product.variants?.forEach((variant: any) => {
-            delete variant.prices
-          })
-
           acc.toUpdate.push(
             product as HttpTypes.AdminUpdateProduct & { id: string }
           )
diff --git a/packages/core/core-flows/src/product/steps/wait-confirmation-product-import.ts b/packages/core/core-flows/src/product/steps/wait-confirmation-product-import.ts
index b1e3af9834..0032c0eab9 100644
--- a/packages/core/core-flows/src/product/steps/wait-confirmation-product-import.ts
+++ b/packages/core/core-flows/src/product/steps/wait-confirmation-product-import.ts
@@ -7,7 +7,7 @@ export const waitConfirmationProductImportStep = createStep(
     name: waitConfirmationProductImportStepId,
     async: true,
     // After an hour we want to timeout and cancel the import so we don't have orphaned workflows
-    timeout: 60 * 60 * 1 * 1000,
+    timeout: 60 * 60 * 1,
   },
   async () => {}
 )
diff --git a/packages/core/core-flows/src/product/workflows/index.ts b/packages/core/core-flows/src/product/workflows/index.ts
index 52ae012987..1eba8091fb 100644
--- a/packages/core/core-flows/src/product/workflows/index.ts
+++ b/packages/core/core-flows/src/product/workflows/index.ts
@@ -22,3 +22,4 @@ export * from "./update-product-variants"
 export * from "./update-products"
 export * from "./export-products"
 export * from "./import-products"
+export * from "./upsert-variant-prices"
diff --git a/packages/core/core-flows/src/product/workflows/update-products.ts b/packages/core/core-flows/src/product/workflows/update-products.ts
index 0c8059fe07..c5dad99fc6 100644
--- a/packages/core/core-flows/src/product/workflows/update-products.ts
+++ b/packages/core/core-flows/src/product/workflows/update-products.ts
@@ -1,6 +1,10 @@
 import { updateProductsStep } from "../steps/update-products"
 
-import { ProductTypes } from "@medusajs/types"
+import {
+  CreateMoneyAmountDTO,
+  ProductTypes,
+  UpdateProductVariantWorkflowInputDTO,
+} from "@medusajs/types"
 import { arrayDifference, Modules } from "@medusajs/utils"
 import {
   createWorkflow,
@@ -12,17 +16,21 @@ import {
   dismissRemoteLinkStep,
   useRemoteQueryStep,
 } from "../../common"
+import { upsertVariantPricesWorkflow } from "./upsert-variant-prices"
+import { getVariantIdsForProductsStep } from "../steps/get-variant-ids-for-products"
 
 type UpdateProductsStepInputSelector = {
   selector: ProductTypes.FilterableProductProps
-  update: ProductTypes.UpdateProductDTO & {
+  update: Omit<ProductTypes.UpdateProductDTO, "variants"> & {
     sales_channels?: { id: string }[]
+    variants?: UpdateProductVariantWorkflowInputDTO[]
   }
 }
 
 type UpdateProductsStepInputProducts = {
-  products: (ProductTypes.UpsertProductDTO & {
+  products: (Omit<ProductTypes.UpsertProductDTO, "variants"> & {
     sales_channels?: { id: string }[]
+    variants?: UpdateProductVariantWorkflowInputDTO[]
   })[]
 }
 
@@ -46,6 +54,10 @@ function prepareUpdateProductInput({
       products: input.products.map((p) => ({
         ...p,
         sales_channels: undefined,
+        variants: p.variants?.map((v) => ({
+          ...v,
+          prices: undefined,
+        })),
       })),
     }
   }
@@ -55,6 +67,10 @@ function prepareUpdateProductInput({
     update: {
       ...input.update,
       sales_channels: undefined,
+      variants: input.update?.variants?.map((v) => ({
+        ...v,
+        prices: undefined,
+      })),
     },
   }
 }
@@ -120,19 +136,67 @@ function prepareSalesChannelLinks({
   return []
 }
 
-function prepareToDeleteLinks({
-  currentLinks,
+function prepareVariantPrices({
+  input,
+  updatedProducts,
 }: {
-  currentLinks: {
+  updatedProducts: ProductTypes.ProductDTO[]
+  input: WorkflowInput
+}): {
+  variant_id: string
+  product_id: string
+  prices?: CreateMoneyAmountDTO[]
+}[] {
+  if ("products" in input) {
+    if (!input.products.length) {
+      return []
+    }
+
+    // Note: We rely on the ordering of input and update here.
+    return input.products.flatMap((product, i) => {
+      if (!product.variants?.length) {
+        return []
+      }
+
+      const updatedProduct = updatedProducts[i]
+      return product.variants.map((variant, j) => {
+        const updatedVariant = updatedProduct.variants[j]
+
+        return {
+          product_id: updatedProduct.id,
+          variant_id: updatedVariant.id,
+          prices: variant.prices,
+        }
+      })
+    })
+  }
+
+  if (input.selector && input.update?.variants?.length) {
+    return updatedProducts.flatMap((p) => {
+      return input.update.variants!.map((variant, i) => ({
+        product_id: p.id,
+        variant_id: p.variants[i].id,
+        prices: variant.prices,
+      }))
+    })
+  }
+
+  return []
+}
+
+function prepareToDeleteSalesChannelLinks({
+  currentSalesChannelLinks,
+}: {
+  currentSalesChannelLinks: {
     product_id: string
     sales_channel_id: string
   }[]
 }) {
-  if (!currentLinks.length) {
+  if (!currentSalesChannelLinks.length) {
     return []
   }
 
-  return currentLinks.map(({ product_id, sales_channel_id }) => ({
+  return currentSalesChannelLinks.map(({ product_id, sales_channel_id }) => ({
     [Modules.PRODUCT]: {
       product_id,
     },
@@ -148,7 +212,7 @@ export const updateProductsWorkflow = createWorkflow(
   (
     input: WorkflowData<WorkflowInput>
   ): WorkflowData<ProductTypes.ProductDTO[]> => {
-    // TODO: Delete price sets for removed variants
+    const previousVariantIds = getVariantIdsForProductsStep(input)
 
     const toUpdateInput = transform({ input }, prepareUpdateProductInput)
     const updatedProducts = updateProductsStep(toUpdateInput)
@@ -157,20 +221,32 @@ export const updateProductsWorkflow = createWorkflow(
       updateProductIds
     )
 
-    const currentLinks = useRemoteQueryStep({
-      entry_point: "product_sales_channel",
-      fields: ["product_id", "sales_channel_id"],
-      variables: { filters: { product_id: updatedProductIds } },
-    })
-
-    const toDeleteLinks = transform({ currentLinks }, prepareToDeleteLinks)
-
     const salesChannelLinks = transform(
       { input, updatedProducts },
       prepareSalesChannelLinks
     )
 
-    dismissRemoteLinkStep(toDeleteLinks)
+    const variantPrices = transform(
+      { input, updatedProducts },
+      prepareVariantPrices
+    )
+
+    const currentSalesChannelLinks = useRemoteQueryStep({
+      entry_point: "product_sales_channel",
+      fields: ["product_id", "sales_channel_id"],
+      variables: { filters: { product_id: updatedProductIds } },
+    })
+
+    const toDeleteSalesChannelLinks = transform(
+      { currentSalesChannelLinks },
+      prepareToDeleteSalesChannelLinks
+    )
+
+    upsertVariantPricesWorkflow.runAsStep({
+      input: { variantPrices, previousVariantIds },
+    })
+
+    dismissRemoteLinkStep(toDeleteSalesChannelLinks)
 
     createRemoteLinkStep(salesChannelLinks)
 
diff --git a/packages/core/core-flows/src/product/workflows/upsert-variant-prices.ts b/packages/core/core-flows/src/product/workflows/upsert-variant-prices.ts
new file mode 100644
index 0000000000..d1bed23686
--- /dev/null
+++ b/packages/core/core-flows/src/product/workflows/upsert-variant-prices.ts
@@ -0,0 +1,116 @@
+import {
+  CreatePricesDTO,
+  UpdatePricesDTO,
+  CreatePriceSetDTO,
+} from "@medusajs/types"
+import { Modules, arrayDifference } from "@medusajs/utils"
+import {
+  WorkflowData,
+  createWorkflow,
+  transform,
+} from "@medusajs/workflows-sdk"
+import { removeRemoteLinkStep, useRemoteQueryStep } from "../../common"
+import { createPriceSetsStep, updatePriceSetsStep } from "../../pricing"
+import { createVariantPricingLinkStep } from "../steps"
+
+type WorkflowInput = {
+  variantPrices: {
+    variant_id: string
+    product_id: string
+    prices?: (CreatePricesDTO | UpdatePricesDTO)[]
+  }[]
+  previousVariantIds: string[]
+}
+
+export const upsertVariantPricesWorkflowId = "upsert-variant-prices"
+export const upsertVariantPricesWorkflow = createWorkflow(
+  upsertVariantPricesWorkflowId,
+  (input: WorkflowData<WorkflowInput>): WorkflowData<void> => {
+    const removedVariantIds = transform({ input }, (data) => {
+      return arrayDifference(
+        data.input.previousVariantIds,
+        data.input.variantPrices.map((v) => v.variant_id)
+      )
+    })
+
+    removeRemoteLinkStep({
+      [Modules.PRODUCT]: { variant_id: removedVariantIds },
+    }).config({ name: "remove-variant-link-step" })
+
+    const { newVariants, existingVariants } = transform({ input }, (data) => {
+      const previousMap = new Set(data.input.previousVariantIds.map((v) => v))
+
+      return {
+        existingVariants: data.input.variantPrices.filter((v) =>
+          previousMap.has(v.variant_id)
+        ),
+        newVariants: data.input.variantPrices.filter(
+          (v) => !previousMap.has(v.variant_id)
+        ),
+      }
+    })
+
+    const existingVariantIds = transform({ existingVariants }, (data) =>
+      data.existingVariants.map((v) => v.variant_id)
+    )
+
+    const existingLinks = useRemoteQueryStep({
+      entry_point: "product_variant_price_set",
+      fields: ["variant_id", "price_set_id"],
+      variables: { filters: { variant_id: existingVariantIds } },
+    })
+
+    const pricesToUpdate = transform(
+      { existingVariants, existingLinks },
+      (data) => {
+        const linksMap = new Map(
+          data.existingLinks.map((l) => [l.variant_id, l.price_set_id])
+        )
+
+        return {
+          price_sets: data.existingVariants
+            .map((v) => {
+              const priceSetId = linksMap.get(v.variant_id)
+
+              if (!priceSetId) {
+                return
+              }
+
+              return {
+                id: priceSetId,
+                prices: v.prices,
+              }
+            })
+            .filter(Boolean),
+        }
+      }
+    )
+
+    updatePriceSetsStep(pricesToUpdate)
+
+    // Note: We rely on the same order of input and output when creating variants here, make sure that assumption holds
+    const pricesToCreate = transform({ newVariants }, (data) =>
+      data.newVariants.map((v) => {
+        return {
+          prices: v.prices,
+        } as CreatePriceSetDTO
+      })
+    )
+
+    const createdPriceSets = createPriceSetsStep(pricesToCreate)
+
+    const variantAndPriceSetLinks = transform(
+      { newVariants, createdPriceSets },
+      (data) => {
+        return {
+          links: data.newVariants.map((variant, i) => ({
+            variant_id: variant.variant_id,
+            price_set_id: data.createdPriceSets[i].id,
+          })),
+        }
+      }
+    )
+
+    createVariantPricingLinkStep(variantAndPriceSetLinks)
+  }
+)
diff --git a/packages/core/types/src/pricing/common/price-set.ts b/packages/core/types/src/pricing/common/price-set.ts
index 486533e8ad..76ca0f8012 100644
--- a/packages/core/types/src/pricing/common/price-set.ts
+++ b/packages/core/types/src/pricing/common/price-set.ts
@@ -5,6 +5,7 @@ import {
   CreateMoneyAmountDTO,
   FilterableMoneyAmountProps,
   MoneyAmountDTO,
+  UpdateMoneyAmountDTO,
 } from "./money-amount"
 
 export interface PricingRepositoryService {
@@ -227,6 +228,18 @@ export interface CreatePricesDTO extends CreateMoneyAmountDTO {
   rules?: CreatePriceSetPriceRules
 }
 
+/**
+ * @interface
+ *
+ * The prices to create part of a price set.
+ */
+export interface UpdatePricesDTO extends UpdateMoneyAmountDTO {
+  /**
+   * The rules to add to the price. The object's keys are the attribute, and values are the value of that rule associated with this price.
+   */
+  rules?: CreatePriceSetPriceRules
+}
+
 /**
  * @interface
  *