diff --git a/dialogs/replaceclipmediadialog.cpp b/dialogs/replaceclipmediadialog.cpp
index 4bc74182e..9a7bbb11c 100644
--- a/dialogs/replaceclipmediadialog.cpp
+++ b/dialogs/replaceclipmediadialog.cpp
@@ -89,15 +89,9 @@ void ReplaceClipMediaDialog::replace() {
 							c->clip_in = 0;
 						}
 
-						int new_type = get_type_from_tree(new_item);
 						c->media = new_media;
-						c->media_type = new_type;
-
-						if (new_type == MEDIA_TYPE_FOOTAGE) {
-							// TODO: the media streams may be invalid, here we have a BASIC heuristic for getting the right ones that COULD BE BETTER
-							Media* casted_new_media = static_cast<Media*>(new_media);
-							c->media_stream = (c->track < 0) ? casted_new_media->video_tracks.at(0)->file_index : casted_new_media->audio_tracks.at(0)->file_index;
-						}
+						c->media_type = get_type_from_tree(new_item);
+						c->replaced = true;
 
 						c->refresh();
 						changed = true;
diff --git a/io/media.cpp b/io/media.cpp
index 8d5ce4399..b9c0e9e95 100644
--- a/io/media.cpp
+++ b/io/media.cpp
@@ -6,6 +6,8 @@ extern "C" {
 	#include <libavformat/avformat.h>
 }
 
+#include "project/clip.h"
+
 Media::Media() : ready(false) {}
 
 Media::~Media() {
diff --git a/io/media.h b/io/media.h
index 105afa0af..42272a675 100644
--- a/io/media.h
+++ b/io/media.h
@@ -9,6 +9,7 @@
 #include <QPixmap>
 
 struct Sequence;
+struct Clip;
 
 struct MediaStream {
 	int file_index;
@@ -39,7 +40,7 @@ struct Media {
     bool ready;
 
     long get_length_in_frames(double frame_rate);
-    MediaStream* get_stream_from_file_index(int index);
+	MediaStream* get_stream_from_file_index(int index);
     void reset();
 };
 
diff --git a/io/previewgenerator.cpp b/io/previewgenerator.cpp
index 7b26aab03..a81d2cec0 100644
--- a/io/previewgenerator.cpp
+++ b/io/previewgenerator.cpp
@@ -18,7 +18,15 @@ extern "C" {
 #include <libswresample/swresample.h>
 }
 
-PreviewGenerator::PreviewGenerator(QTreeWidgetItem* i, Media* m) : QThread(0), fmt_ctx(NULL), item(i), media(m), retrieve_duration(false), contains_still_image(false) {
+PreviewGenerator::PreviewGenerator(QTreeWidgetItem* i, Media* m, bool r) :
+	QThread(0),
+	fmt_ctx(NULL),
+	item(i),
+	media(m),
+	retrieve_duration(false),
+	contains_still_image(false),
+	replace(r)
+{
     connect(this, SIGNAL(finished()), this, SLOT(deleteLater()));
 }
 
@@ -72,9 +80,9 @@ void PreviewGenerator::finalize_media() {
 	media->ready = true;
 
 	if (media->video_tracks.size() == 0) {
-		emit set_icon(ICON_TYPE_AUDIO);
+		emit set_icon(ICON_TYPE_AUDIO, replace);
 	} else {
-		emit set_icon(ICON_TYPE_VIDEO);
+		emit set_icon(ICON_TYPE_VIDEO, replace);
 	}
 
 	if (!contains_still_image || media->audio_tracks.size() > 0) {
@@ -290,7 +298,7 @@ void PreviewGenerator::run() {
         avformat_close_input(&fmt_ctx);
     }
     if (error) {
-        emit set_icon(ICON_TYPE_ERROR);
+		emit set_icon(ICON_TYPE_ERROR, replace);
     } else {
         item->setToolTip(0, QString());
     }
diff --git a/io/previewgenerator.h b/io/previewgenerator.h
index a08839a3b..15b1e805f 100644
--- a/io/previewgenerator.h
+++ b/io/previewgenerator.h
@@ -16,10 +16,10 @@ class PreviewGenerator : public QThread
 {
     Q_OBJECT
 public:
-    PreviewGenerator(QTreeWidgetItem*, Media*);
+	PreviewGenerator(QTreeWidgetItem*, Media*, bool);
     void run();
 signals:
-    void set_icon(int);
+	void set_icon(int, bool);
 private:
     void parse_media();
     void generate_waveform();
@@ -29,6 +29,7 @@ private:
     AVFormatContext* fmt_ctx;
 	bool retrieve_duration;
 	bool contains_still_image;
+	bool replace;
 };
 
 #endif // PREVIEWGENERATOR_H
diff --git a/panels/project.cpp b/panels/project.cpp
index 19d19baab..04c15d5e9 100644
--- a/panels/project.cpp
+++ b/panels/project.cpp
@@ -117,43 +117,12 @@ void Project::replace_selected_file() {
 }
 
 void Project::replace_media(QTreeWidgetItem* item, QString filename) {
-	Media* m = get_footage_from_tree(item);
-
-	QStringList files;
 	if (filename.isEmpty()) {
-		QString browse_file = QFileDialog::getOpenFileName(this, "Replace '" + item->text(0) + "'", "", "All Files (*)");
-		if (!browse_file.isEmpty()) files.append(browse_file);
-	} else {
-		files.append(filename);
+		filename = QFileDialog::getOpenFileName(this, "Replace '" + item->text(0) + "'", "", "All Files (*)");
 	}
-
-	if (files.size() > 0) {
-		// close any clips currently using this media
-		QVector<Sequence*> all_sequences = list_all_project_sequences();
-		for (int i=0;i<all_sequences.size();i++) {
-			Sequence* s = all_sequences.at(i);
-			for (int j=0;j<s->clip_count();j++) {
-				Clip* c = s->get_clip(j);
-				if (c != NULL && c->media == m && c->open) {
-					close_clip(c);
-					c->cacher->wait();
-				}
-			}
-		}
-
-		process_file_list(NULL, files, NULL, item);
-
-		for (int i=0;i<all_sequences.size();i++) {
-			Sequence* s = all_sequences.at(i);
-			for (int j=0;j<s->clip_count();j++) {
-				Clip* c = s->get_clip(j);
-				if (c != NULL && c->media == m) {
-					c->refresh();
-				}
-			}
-		}
-
-		panel_timeline->redraw_all_clips(true);
+	if (!filename.isEmpty()) {
+		ReplaceMediaCommand* rmc = new ReplaceMediaCommand(item, filename);
+		undo_stack.push(rmc);
 	}
 }
 
@@ -191,12 +160,12 @@ void Project::new_sequence(TimelineAction *ta, Sequence *s, bool open, QTreeWidg
     project_changed = true;
 }
 
-void Project::start_preview_generator(QTreeWidgetItem* item, Media* media) {
+void Project::start_preview_generator(QTreeWidgetItem* item, Media* media, bool replacing) {
     // set up throbber animation
     MediaThrobber* throbber = new MediaThrobber(item);
 
-    PreviewGenerator* pg = new PreviewGenerator(item, media);
-    connect(pg, SIGNAL(set_icon(int)), throbber, SLOT(stop(int)));
+	PreviewGenerator* pg = new PreviewGenerator(item, media, replacing);
+	connect(pg, SIGNAL(set_icon(int, bool)), throbber, SLOT(stop(int, bool)));
     connect(pg, SIGNAL(finished()), pg, SLOT(deleteLater()));
     pg->start(QThread::LowPriority);
 }
@@ -205,14 +174,6 @@ QString Project::get_file_name_from_path(const QString& path) {
 	return path.mid(path.lastIndexOf('/')+1);
 }
 
-void Project::import_file(QTreeWidgetItem* item, Media* m, QString file, QString imported_filename) {
-    m->url = file;
-	m->name = get_file_name_from_path(imported_filename);
-
-    // generate waveform/thumbnail in another thread
-	start_preview_generator(item, m);
-}
-
 QTreeWidgetItem* Project::new_item() {
     QTreeWidgetItem* item = new QTreeWidgetItem();
     item->setFlags(item->flags() | Qt::ItemIsEditable);
@@ -370,10 +331,11 @@ void Project::process_file_list(bool recursive, QStringList& files, QTreeWidgetI
     QVector<bool> image_sequence_importassequence;
     QStringList image_sequence_formats = config.img_seq_formats.split("|");
 
+	bool create_undo_action = (!recursive && replace == NULL);
 	TimelineAction* ta;
-	if (!recursive) ta = new TimelineAction();
+	if (create_undo_action) ta = new TimelineAction();
 
-    for (int i=0;i<files.count();i++) {
+	for (int i=0;i<files.size();i++) {
 		if (QFileInfo(files.at(i)).isDir()) {
 			QString folder_name = get_file_name_from_path(files.at(i));
 			QTreeWidgetItem* folder = new_folder(folder_name);
@@ -390,7 +352,7 @@ void Project::process_file_list(bool recursive, QStringList& files, QTreeWidgetI
 
 			process_file_list(true, subdir_filenames, folder, NULL);
 
-			if (!recursive) {
+			if (create_undo_action) {
 				ta->add_media(folder, parent);
 			} else {
 				parent->addChild(folder);
@@ -483,20 +445,27 @@ void Project::process_file_list(bool recursive, QStringList& files, QTreeWidgetI
 					m = new Media();
 				}
 
-				import_file(item, m, file, files.at(i));
+				m->url = file;
+				m->name = get_file_name_from_path(files.at(i));
+
+				// generate waveform/thumbnail in another thread
+				start_preview_generator(item, m, replace != NULL);
+
 				set_footage_of_tree(item, m);
 
-				if (recursive) {
-					parent->addChild(item);
-				} else {
-					ta->add_media(item, parent);
+				if (replace == NULL) {
+					if (create_undo_action) {
+						ta->add_media(item, parent);
+					} else {
+						parent->addChild(item);
+					}
 				}
 
 				imported = true;
 			}
 		}
     }
-	if (!recursive) {
+	if (create_undo_action) {
 		if (imported) {
 			undo_stack.push(ta);
 		} else {
@@ -520,7 +489,7 @@ void Project::import_dialog() {
 
 	if (fd.exec()) {
 		QStringList files = fd.selectedFiles();
-		process_file_list(NULL, files, get_selected_folder(), NULL);
+		process_file_list(false, files, get_selected_folder(), NULL);
 	}
 }
 
@@ -753,7 +722,7 @@ bool Project::load_worker(QFile& f, QXmlStreamReader& stream, int type) {
                             }
 
                             // analyze media to see if it's the same
-                            start_preview_generator(item, m);
+							start_preview_generator(item, m, true);
 
                             loaded_media.append(m);
                         }
@@ -1285,7 +1254,7 @@ void MediaThrobber::animation_update() {
     animation++;
 }
 
-void MediaThrobber::stop(int icon_type) {
+void MediaThrobber::stop(int icon_type, bool replace) {
     animator.stop();
 
     switch (icon_type) {
@@ -1294,22 +1263,20 @@ void MediaThrobber::stop(int icon_type) {
     case ICON_TYPE_ERROR: item->setIcon(0, QIcon::fromTheme("dialog-error")); break;
     }
 
-    // re-init all effects on all clips
+	// refresh all clips
     QVector<Sequence*> sequences = panel_project->list_all_project_sequences();
     for (int i=0;i<sequences.size();i++) {
         Sequence* s = sequences.at(i);
         for (int j=0;j<s->clip_count();j++) {
             Clip* c = s->get_clip(j);
-            if (c != NULL) {
-                for (int k=0;k<c->effects.size();k++) {
-                    c->effects.at(k)->init();
-                }
+			if (c != NULL) {
+				c->refresh();
             }
         }
-    }
+	}
 
     // redraw clips
-    panel_timeline->redraw_all_clips(false);
+	panel_timeline->redraw_all_clips(replace);
 
     panel_project->source_table->viewport()->update();
     deleteLater();
diff --git a/panels/project.h b/panels/project.h
index f10514fd3..f21daaa61 100644
--- a/panels/project.h
+++ b/panels/project.h
@@ -51,8 +51,7 @@ public:
 	explicit Project(QWidget *parent = 0);
 	~Project();
     bool is_focused();
-    void clear();
-	void import_file(QTreeWidgetItem* item, Media* m, QString url, QString imported_filename);
+	void clear();
     void new_sequence(TimelineAction* ta, Sequence* s, bool open, QTreeWidgetItem* parent);
 	QString get_next_sequence_name();
     void delete_media(QTreeWidgetItem* item);
@@ -96,7 +95,7 @@ private:
     QTreeWidgetItem* find_loaded_folder_by_id(int id);
     void add_recent_project(QString url);
 	void get_all_media_from_table(QList<QTreeWidgetItem*> items, QList<QTreeWidgetItem*>& list, int type);
-    void start_preview_generator(QTreeWidgetItem* item, Media* media);
+	void start_preview_generator(QTreeWidgetItem* item, Media* media, bool replacing);
     void list_all_sequences_worker(QVector<Sequence*>* list, QTreeWidgetItem* parent);
 	QString get_file_name_from_path(const QString &path);
 private slots:
@@ -109,7 +108,7 @@ class MediaThrobber : public QObject {
 public:
     MediaThrobber(QTreeWidgetItem*);
 public slots:
-    void stop(int);
+	void stop(int, bool replace);
 private slots:
     void animation_update();
 private:
diff --git a/project/clip.cpp b/project/clip.cpp
index 65bea6ae2..facf772c8 100644
--- a/project/clip.cpp
+++ b/project/clip.cpp
@@ -26,6 +26,7 @@ Clip::Clip(Sequence* s) :
     opening_transition(NULL),
     closing_transition(NULL),
     pkt(new AVPacket()),
+	replaced(false),
     texture(NULL)
 {
     reset();
@@ -106,6 +107,13 @@ void Clip::reset_audio() {
 }
 
 void Clip::refresh() {
+	// validates media if it was replaced
+	if (replaced && media_type == MEDIA_TYPE_FOOTAGE) {
+		Media* m = static_cast<Media*>(media);
+		media_stream = (track < 0) ? m->video_tracks.at(0)->file_index : m->audio_tracks.at(0)->file_index;
+	}
+	replaced = false;
+
     // reinitializes all effects... just in case
     for (int i=0;i<effects.size();i++) {
         effects.at(i)->init();
diff --git a/project/clip.h b/project/clip.h
index 9c451f9c1..5932d7d19 100644
--- a/project/clip.h
+++ b/project/clip.h
@@ -82,6 +82,7 @@ struct Clip
     bool reached_end;
     bool open;
     bool finished_opening;
+	bool replaced;
 
     // caching functions
     bool multithreaded;
diff --git a/project/undo.cpp b/project/undo.cpp
index 9953572b5..f2e2cee17 100644
--- a/project/undo.cpp
+++ b/project/undo.cpp
@@ -13,6 +13,8 @@
 #include "playback/playback.h"
 #include "ui/sourcetable.h"
 #include "effects/effects.h"
+#include "io/media.h"
+#include "playback/cacher.h"
 
 QUndoStack undo_stack;
 
@@ -506,3 +508,45 @@ void CheckboxCommand::redo() {
         box->setChecked(checked);
     }
 }
+
+ReplaceMediaCommand::ReplaceMediaCommand(QTreeWidgetItem* i, QString s) :
+	item(i),
+	new_filename(s),
+	old_project_changed(project_changed)
+{
+	media = get_footage_from_tree(item);
+	old_filename = media->url;
+}
+
+void ReplaceMediaCommand::replace(QString& filename) {
+	// close any clips currently using this media
+	QVector<Sequence*> all_sequences = panel_project->list_all_project_sequences();
+	for (int i=0;i<all_sequences.size();i++) {
+		Sequence* s = all_sequences.at(i);
+		for (int j=0;j<s->clip_count();j++) {
+			Clip* c = s->get_clip(j);
+			if (c != NULL && c->media == media && c->open) {
+				close_clip(c);
+				c->cacher->wait();
+				c->replaced = true;
+			}
+		}
+	}
+
+	// replace media
+	QStringList files;
+	files.append(filename);
+	panel_project->process_file_list(false, files, NULL, item);
+}
+
+void ReplaceMediaCommand::undo() {
+	replace(old_filename);
+
+	project_changed = old_project_changed;
+}
+
+void ReplaceMediaCommand::redo() {
+	replace(new_filename);
+
+	project_changed = true;
+}
diff --git a/project/undo.h b/project/undo.h
index 12deb4131..98f868144 100644
--- a/project/undo.h
+++ b/project/undo.h
@@ -5,6 +5,7 @@ class QTreeWidgetItem;
 class QCheckBox;
 struct Clip;
 struct Sequence;
+struct Media;
 
 #include <QUndoStack>
 #include <QUndoCommand>
@@ -115,4 +116,18 @@ private:
     bool done;
 };
 
+class ReplaceMediaCommand : public QUndoCommand {
+public:
+	ReplaceMediaCommand(QTreeWidgetItem*, QString);
+	void undo();
+	void redo();
+private:
+	QTreeWidgetItem *item;
+	QString old_filename;
+	QString new_filename;
+	bool old_project_changed;
+	Media* media;
+	void replace(QString& filename);
+};
+
 #endif // UNDO_H
diff --git a/ui/sourcetable.cpp b/ui/sourcetable.cpp
index 7b71e7f61..56adfe77c 100644
--- a/ui/sourcetable.cpp
+++ b/ui/sourcetable.cpp
@@ -169,7 +169,7 @@ void SourceTable::dropEvent(QDropEvent* event) {
 				if (drop_item != NULL && get_type_from_tree(drop_item) == MEDIA_TYPE_FOLDER) {
 					parent = drop_item;
 				}
-				panel_project->process_file_list(NULL, paths, parent, NULL);
+				panel_project->process_file_list(false, paths, parent, NULL);
 			}
         }
         event->acceptProposedAction();