diff --git a/awx/ui_next/src/screens/Host/HostList/HostList.jsx b/awx/ui_next/src/screens/Host/HostList/HostList.jsx
index 1f5e0833bf..d62bae0d32 100644
--- a/awx/ui_next/src/screens/Host/HostList/HostList.jsx
+++ b/awx/ui_next/src/screens/Host/HostList/HostList.jsx
@@ -1,8 +1,8 @@
 import React, { useState, useEffect, useCallback } from 'react';
-import { useLocation, useRouteMatch } from 'react-router-dom';
+import { useHistory, useLocation, useRouteMatch } from 'react-router-dom';
 import { withI18n } from '@lingui/react';
 import { t } from '@lingui/macro';
-import { Card, PageSection } from '@patternfly/react-core';
+import { Button, Card, PageSection, Tooltip } from '@patternfly/react-core';
 
 import { HostsAPI } from '../../../api';
 import AlertModal from '../../../components/AlertModal';
@@ -13,7 +13,11 @@ import PaginatedDataList, {
   ToolbarDeleteButton,
 } from '../../../components/PaginatedDataList';
 import useRequest, { useDeleteItems } from '../../../util/useRequest';
-import { getQSConfig, parseQueryString } from '../../../util/qs';
+import {
+  encodeQueryString,
+  getQSConfig,
+  parseQueryString,
+} from '../../../util/qs';
 
 import HostListItem from './HostListItem';
 
@@ -24,9 +28,21 @@ const QS_CONFIG = getQSConfig('host', {
 });
 
 function HostList({ i18n }) {
+  const history = useHistory();
   const location = useLocation();
   const match = useRouteMatch();
   const [selected, setSelected] = useState([]);
+  const parsedQueryStrings = parseQueryString(QS_CONFIG, location.search);
+  const nonDefaultSearchParams = {};
+
+  Object.keys(parsedQueryStrings).forEach(key => {
+    if (!QS_CONFIG.defaultParams[key]) {
+      nonDefaultSearchParams[key] = parsedQueryStrings[key];
+    }
+  });
+
+  const hasNonDefaultSearchParams =
+    Object.keys(nonDefaultSearchParams).length > 0;
 
   const {
     result: { hosts, count, actions, relatedSearchableKeys, searchableKeys },
@@ -99,6 +115,14 @@ function HostList({ i18n }) {
     }
   };
 
+  const handleSmartInventoryClick = () => {
+    history.push(
+      `/inventories/smart_inventory/add?host_filter=${encodeURIComponent(
+        encodeQueryString(nonDefaultSearchParams)
+      )}`
+    );
+  };
+
   const canAdd =
     actions && Object.prototype.hasOwnProperty.call(actions, 'POST');
 
@@ -157,6 +181,34 @@ function HostList({ i18n }) {
                   itemsToDelete={selected}
                   pluralizedItemName={i18n._(t`Hosts`)}
                 />,
+                ...(canAdd
+                  ? [
+                      <Tooltip
+                        key="smartInventory"
+                        content={
+                          hasNonDefaultSearchParams
+                            ? i18n._(
+                                t`Create a new Smart Inventory with the applied filter`
+                              )
+                            : i18n._(
+                                t`Enter at least one search filter to create a new Smart Inventory`
+                              )
+                        }
+                        position="top"
+                      >
+                        <div>
+                          <Button
+                            onClick={() => handleSmartInventoryClick()}
+                            aria-label={i18n._(t`Smart Inventory`)}
+                            variant="secondary"
+                            isDisabled={!hasNonDefaultSearchParams}
+                          >
+                            {i18n._(t`Smart Inventory`)}
+                          </Button>
+                        </div>
+                      </Tooltip>,
+                    ]
+                  : []),
               ]}
             />
           )}
diff --git a/awx/ui_next/src/screens/Host/HostList/HostList.test.jsx b/awx/ui_next/src/screens/Host/HostList/HostList.test.jsx
index b65c98b67b..5b502979e1 100644
--- a/awx/ui_next/src/screens/Host/HostList/HostList.test.jsx
+++ b/awx/ui_next/src/screens/Host/HostList/HostList.test.jsx
@@ -1,5 +1,6 @@
 import React from 'react';
 import { act } from 'react-dom/test-utils';
+import { createMemoryHistory } from 'history';
 import { HostsAPI } from '../../../api';
 import {
   mountWithContexts,
@@ -257,7 +258,7 @@ describe('<HostList />', () => {
     expect(modal.prop('title')).toEqual('Error!');
   });
 
-  test('should show Add button according to permissions', async () => {
+  test('should show Add and Smart Inventory buttons according to permissions', async () => {
     let wrapper;
     await act(async () => {
       wrapper = mountWithContexts(<HostList />);
@@ -265,9 +266,10 @@ describe('<HostList />', () => {
     await waitForLoaded(wrapper);
 
     expect(wrapper.find('ToolbarAddButton').length).toBe(1);
+    expect(wrapper.find('Button[aria-label="Smart Inventory"]').length).toBe(1);
   });
 
-  test('should hide Add button according to permissions', async () => {
+  test('should hide Add and Smart Inventory buttons according to permissions', async () => {
     HostsAPI.readOptions.mockResolvedValue({
       data: {
         actions: {
@@ -282,5 +284,44 @@ describe('<HostList />', () => {
     await waitForLoaded(wrapper);
 
     expect(wrapper.find('ToolbarAddButton').length).toBe(0);
+    expect(wrapper.find('Button[aria-label="Smart Inventory"]').length).toBe(0);
+  });
+
+  test('Smart Inventory button should be disabled when no search params are present', async () => {
+    let wrapper;
+    await act(async () => {
+      wrapper = mountWithContexts(<HostList />);
+    });
+    await waitForLoaded(wrapper);
+    expect(
+      wrapper.find('Button[aria-label="Smart Inventory"]').props().isDisabled
+    ).toBe(true);
+  });
+
+  test('Clicking Smart Inventory button should navigate to smart inventory form with correct query param', async () => {
+    let wrapper;
+    const history = createMemoryHistory({
+      initialEntries: ['/hosts?host.name__icontains=foo'],
+    });
+    await act(async () => {
+      wrapper = mountWithContexts(<HostList />, {
+        context: { router: { history } },
+      });
+    });
+
+    await waitForLoaded(wrapper);
+    expect(
+      wrapper.find('Button[aria-label="Smart Inventory"]').props().isDisabled
+    ).toBe(false);
+    await act(async () => {
+      wrapper.find('Button[aria-label="Smart Inventory"]').simulate('click');
+    });
+    wrapper.update();
+    expect(history.location.pathname).toEqual(
+      '/inventories/smart_inventory/add'
+    );
+    expect(history.location.search).toEqual(
+      '?host_filter=name__icontains%3Dfoo'
+    );
   });
 });
diff --git a/awx/ui_next/src/screens/Inventory/shared/SmartInventoryForm.jsx b/awx/ui_next/src/screens/Inventory/shared/SmartInventoryForm.jsx
index 9b82b25a8b..4d5805db64 100644
--- a/awx/ui_next/src/screens/Inventory/shared/SmartInventoryForm.jsx
+++ b/awx/ui_next/src/screens/Inventory/shared/SmartInventoryForm.jsx
@@ -2,7 +2,8 @@ import React, { useEffect, useCallback } from 'react';
 import { Formik, useField, useFormikContext } from 'formik';
 import { withI18n } from '@lingui/react';
 import { t } from '@lingui/macro';
-import { func, shape, arrayOf } from 'prop-types';
+import { useLocation } from 'react-router-dom';
+import { func, shape, object, arrayOf } from 'prop-types';
 import { Form } from '@patternfly/react-core';
 import { InstanceGroup } from '../../../types';
 import { VariablesField } from '../../../components/CodeMirrorInput';
@@ -14,6 +15,10 @@ import {
   FormColumnLayout,
   FormFullWidthLayout,
 } from '../../../components/FormLayout';
+import {
+  toHostFilter,
+  toSearchParams,
+} from '../../../components/Lookup/shared/HostFilterUtils';
 import HostFilterLookup from '../../../components/Lookup/HostFilterLookup';
 import InstanceGroupsLookup from '../../../components/Lookup/InstanceGroupsLookup';
 import OrganizationLookup from '../../../components/Lookup/OrganizationLookup';
@@ -109,9 +114,17 @@ function SmartInventoryForm({
   onCancel,
   submitError,
 }) {
+  const { search } = useLocation();
+  const queryParams = new URLSearchParams(search);
+  const hostFilterFromParams = queryParams.get('host_filter');
+
   const initialValues = {
     description: inventory.description || '',
-    host_filter: inventory.host_filter || '',
+    host_filter:
+      inventory.host_filter ||
+      (hostFilterFromParams
+        ? toHostFilter(toSearchParams(hostFilterFromParams))
+        : ''),
     instance_groups: instanceGroups || [],
     kind: 'smart',
     name: inventory.name || '',
diff --git a/awx/ui_next/src/screens/Inventory/shared/SmartInventoryForm.test.jsx b/awx/ui_next/src/screens/Inventory/shared/SmartInventoryForm.test.jsx
index 1f3c1127cc..382a4cea80 100644
--- a/awx/ui_next/src/screens/Inventory/shared/SmartInventoryForm.test.jsx
+++ b/awx/ui_next/src/screens/Inventory/shared/SmartInventoryForm.test.jsx
@@ -1,5 +1,6 @@
 import React from 'react';
 import { act } from 'react-dom/test-utils';
+import { createMemoryHistory } from 'history';
 import {
   mountWithContexts,
   waitForElement,
@@ -135,6 +136,29 @@ describe('<SmartInventoryForm />', () => {
     });
   });
 
+  test('should pre-fill the host filter when query param present and not editing', async () => {
+    let wrapper;
+    const history = createMemoryHistory({
+      initialEntries: [
+        '/inventories/smart_inventory/add?host_filter=name__icontains%3Dfoo',
+      ],
+    });
+    await act(async () => {
+      wrapper = mountWithContexts(
+        <SmartInventoryForm onCancel={() => {}} onSubmit={() => {}} />,
+        {
+          context: { router: { history } },
+        }
+      );
+    });
+    wrapper.update();
+    const nameChipGroup = wrapper.find(
+      'HostFilterLookup ChipGroup[categoryName="Name"]'
+    );
+    expect(nameChipGroup.find('Chip').length).toBe(1);
+    wrapper.unmount();
+  });
+
   test('should throw content error when option request fails', async () => {
     let wrapper;
     InventoriesAPI.readOptions.mockImplementationOnce(() =>