diff --git a/permission_validators/runtime/Cargo.toml b/permission_validators/runtime/Cargo.toml
index 69acef90f56..5a09f5e479a 100644
--- a/permission_validators/runtime/Cargo.toml
+++ b/permission_validators/runtime/Cargo.toml
@@ -3,6 +3,7 @@ resolver = "2"
 members = [
   "asset/burn",
   "asset/mint",
+  "asset/set_key_value",
   "asset/transfer",
   "asset/unregister",
 ]
diff --git a/permission_validators/runtime/asset/set_key_value/Cargo.toml b/permission_validators/runtime/asset/set_key_value/Cargo.toml
new file mode 100644
index 00000000000..47296750c65
--- /dev/null
+++ b/permission_validators/runtime/asset/set_key_value/Cargo.toml
@@ -0,0 +1,13 @@
+[package]
+name = "iroha_asset_set_key_value_validator"
+version.workspace = true
+authors.workspace = true
+edition.workspace = true
+
+# See more keys and their definitions at https://doc.rust-lang.org/cargo/reference/manifest.html
+
+[lib]
+crate-type = ['rlib']
+
+[dependencies]
+iroha_wasm.workspace = true
diff --git a/permission_validators/runtime/asset/set_key_value/src/lib.rs b/permission_validators/runtime/asset/set_key_value/src/lib.rs
new file mode 100644
index 00000000000..2f18a335d0b
--- /dev/null
+++ b/permission_validators/runtime/asset/set_key_value/src/lib.rs
@@ -0,0 +1,56 @@
+//! Validator that checks [`SetKeyValue`] instruction
+//! related to assets and respective [`Grant`] and [`Revoke`] instructions.
+
+#![no_std]
+#![no_main]
+
+extern crate alloc;
+
+use iroha_wasm::validator::{pass_conditions, prelude::*};
+
+/// Strongly-typed representation of `can_set_key_value_in_user_asset` permission token.
+#[derive(Token, Validate, pass_conditions::derive_conversions::asset::Owner)]
+#[validate(pass_conditions::asset::Owner)]
+pub struct CanSetKeyValueInUserAsset {
+    asset_id: <Asset as Identifiable>::Id,
+}
+
+/// Validate [`SetKeyValue`] instruction as well as [`Grant`] and [`Revoke`] instructions for
+/// [`can_set_key_value_in_user_asset`] permission tokens.
+///
+/// # [`SetKeyValue`]
+///
+/// ## Pass
+///
+/// - [`SetKeyValue`] `object_id` is not an [`AssetId`];
+/// - `authority` is an asset owner;
+/// - `authority` has a corresponding [`can_set_key_value_in_user_asset`] permission token.
+///
+/// ## Deny
+///
+/// If none of the `Pass` conditions are met.
+///
+/// # [`Grant`] and [`Revoke`]
+///
+/// For more details about [`Grant`] and [`Revoke`] instructions validation,
+/// see [`can_set_key_value_in_user_asset`].
+///
+/// [`can_set_key_value_in_user_asset`]: CanSetKeyValueInUserAsset
+pub fn validate(authority: <Account as Identifiable>::Id, instruction: Instruction) -> Verdict {
+    validate_grant_revoke!(<CanSetKeyValueInUserAsset>, (authority, instruction));
+
+    let Instruction::SetKeyValue(set_key_value) = instruction else {
+        pass!();
+    };
+
+    let IdBox::AssetId(asset_id) = set_key_value.object_id
+        .evaluate_on_host()
+        .dbg_expect("Failed to evaluate `SetKeyValue` object id") else {
+        pass!();
+    };
+
+    pass_if!(asset_id.account_id == authority);
+    pass_if!(CanSetKeyValueInUserAsset { asset_id }.is_owned_by(&authority));
+
+    deny!("Can't set value to the asset metadata of another account")
+}