diff --git a/cli/src/commands/operation.rs b/cli/src/commands/operation.rs
index 105008bc1e..980102cd94 100644
--- a/cli/src/commands/operation.rs
+++ b/cli/src/commands/operation.rs
@@ -18,10 +18,10 @@ use std::slice;
 use clap::Subcommand;
 use itertools::Itertools as _;
 use jj_lib::object_id::ObjectId;
-use jj_lib::op_store::OperationId;
+use jj_lib::op_store::{OpStoreResult, OperationId};
 use jj_lib::op_walk;
 use jj_lib::operation::Operation;
-use jj_lib::repo::Repo;
+use jj_lib::repo::{Repo, RepoLoader};
 
 use crate::cli_util::{format_template, short_operation_hash, CommandHelper, LogContentFormat};
 use crate::command_error::{user_error, user_error_with_hint, CommandError};
@@ -39,6 +39,7 @@ pub enum OperationCommand {
     Log(OperationLogArgs),
     Undo(OperationUndoArgs),
     Restore(OperationRestoreArgs),
+    Waypoint(OperationWaypointArgs),
 }
 
 /// Show the operation log
@@ -70,6 +71,10 @@ pub struct OperationRestoreArgs {
     /// state of the repo at that operation.
     operation: String,
 
+    /// Restore using a waypoint instead of an operation id
+    #[arg(long, short)]
+    waypoint: bool,
+
     /// What portions of the local state to restore (can be repeated)
     ///
     /// This option is EXPERIMENTAL.
@@ -113,6 +118,22 @@ pub struct OperationAbandonArgs {
     operation: String,
 }
 
+/// Create a new operation that restores the repo to an earlier state
+///
+/// This restores the repo to the state at the specified operation, effectively
+/// undoing all later operations. It does so by creating a new operation.
+#[derive(clap::Args, Clone, Debug)]
+pub struct OperationWaypointArgs {
+    /// The name for the waypoint
+    waypoint: String,
+
+    /// The operation to add a named waypoint to
+    ///
+    /// Use `jj op log` to find an operation to undo.
+    #[arg(default_value = "@")]
+    operation: String,
+}
+
 #[derive(Copy, Clone, Debug, PartialEq, Eq, PartialOrd, Ord, clap::ValueEnum)]
 enum UndoWhatToRestore {
     /// The jj repo state and local branches
@@ -291,7 +312,25 @@ fn cmd_op_restore(
     args: &OperationRestoreArgs,
 ) -> Result<(), CommandError> {
     let mut workspace_command = command.workspace_helper(ui)?;
-    let target_op = workspace_command.resolve_single_op(&args.operation)?;
+    let target_op = if args.waypoint {
+        let workspace = command.load_workspace()?;
+        let repo_loader = workspace.repo_loader();
+        let ops = find_tagged_ops(repo_loader, "waypoint", &args.operation)?;
+        let [op] = ops.as_slice() else {
+            return Err(if ops.is_empty() {
+                user_error("There no op log entries with this waypoint!")
+            } else {
+                user_error("There is more than one op log entry with this waypoint!").hinted(
+                    "Try setting the waypoint again, this should clear all other waypoints with \
+                     this name.",
+                )
+            });
+        };
+        op.to_owned()
+    } else {
+        workspace_command.resolve_single_op(&args.operation)?
+    };
+
     let mut tx = workspace_command.start_transaction();
     let new_view = view_with_desired_portions_restored(
         target_op.view()?.store_view(),
@@ -395,6 +434,56 @@ fn cmd_op_abandon(
     Ok(())
 }
 
+pub fn cmd_op_waypoint(
+    ui: &mut Ui,
+    command: &CommandHelper,
+    args: &OperationWaypointArgs,
+) -> Result<(), CommandError> {
+    let workspace = command.load_workspace()?;
+    let repo_loader = workspace.repo_loader();
+    let workspace_command = command.workspace_helper(ui)?;
+    let target_op = workspace_command.resolve_single_op(&args.operation)?;
+    let op_store = workspace_command.repo().op_store();
+
+    let tagged_ops = find_tagged_ops(repo_loader, "waypoint", &args.waypoint)?;
+    for op in tagged_ops {
+        op_store.update_tag(op.id(), "waypoint".to_string(), None)?;
+    }
+
+    op_store.update_tag(
+        target_op.id(),
+        "waypoint".to_string(),
+        Some(args.waypoint.clone()),
+    )?;
+
+    Ok(())
+}
+
+fn find_tagged_ops(
+    repo_loader: &RepoLoader,
+    tag: &str,
+    value: &str,
+) -> OpStoreResult<Vec<Operation>> {
+    let current_op = op_walk::resolve_op_for_load(repo_loader, "@").ok();
+    let head_ops = if let Some(op) = current_op {
+        vec![op]
+    } else {
+        op_walk::get_current_head_ops(
+            repo_loader.op_store(),
+            repo_loader.op_heads_store().as_ref(),
+        )?
+    };
+    let ops = op_walk::walk_ancestors(&head_ops);
+    ops.filter_ok(|op| {
+        op.metadata()
+            .tags
+            .get(tag)
+            .map(|val| val == value)
+            .unwrap_or(false)
+    })
+    .collect()
+}
+
 pub fn cmd_operation(
     ui: &mut Ui,
     command: &CommandHelper,
@@ -405,5 +494,6 @@ pub fn cmd_operation(
         OperationCommand::Log(args) => cmd_op_log(ui, command, args),
         OperationCommand::Restore(args) => cmd_op_restore(ui, command, args),
         OperationCommand::Undo(args) => cmd_op_undo(ui, command, args),
+        OperationCommand::Waypoint(args) => cmd_op_waypoint(ui, command, args),
     }
 }
diff --git a/lib/src/op_store.rs b/lib/src/op_store.rs
index 1eb072c80a..53f7f33390 100644
--- a/lib/src/op_store.rs
+++ b/lib/src/op_store.rs
@@ -432,6 +432,13 @@ pub trait OpStore: Send + Sync + Debug {
 
     fn write_operation(&self, contents: &Operation) -> OpStoreResult<OperationId>;
 
+    fn update_tag(
+        &self,
+        id: &OperationId,
+        name: String,
+        value: Option<String>,
+    ) -> OpStoreResult<()>;
+
     /// Resolves an unambiguous operation ID prefix.
     fn resolve_operation_id_prefix(
         &self,
diff --git a/lib/src/simple_op_store.rs b/lib/src/simple_op_store.rs
index 1b43841c5d..0f7f901525 100644
--- a/lib/src/simple_op_store.rs
+++ b/lib/src/simple_op_store.rs
@@ -181,6 +181,44 @@ impl OpStore for SimpleOpStore {
         Ok(id)
     }
 
+    fn update_tag(
+        &self,
+        id: &OperationId,
+        tag: String,
+        value: Option<String>,
+    ) -> OpStoreResult<()> {
+        let operation = self.read_operation(id)?;
+
+        let temp_file =
+            NamedTempFile::new_in(&self.path).map_err(|err| io_to_write_error(err, "operation"))?;
+
+        let mut tags = operation.metadata.tags;
+
+        if let Some(value) = value {
+            tags.insert(tag, value);
+        } else {
+            tags.remove(&tag);
+        }
+
+        let operation = op_store::Operation {
+            metadata: op_store::OperationMetadata {
+                tags,
+                ..operation.metadata
+            },
+            ..operation
+        };
+
+        let proto = operation_to_proto(&operation);
+        temp_file
+            .as_file()
+            .write_all(&proto.encode_to_vec())
+            .map_err(|err| io_to_write_error(err, "operation"))?;
+
+        persist_content_addressed_temp_file(temp_file, self.operation_path(id))
+            .map_err(|err| io_to_write_error(err, "operation"))?;
+        Ok(())
+    }
+
     fn resolve_operation_id_prefix(
         &self,
         prefix: &HexPrefix,