diff --git a/qemu-img-cmds.hx b/qemu-img-cmds.hx
index 641bd87..f28ef36 100644
--- a/qemu-img-cmds.hx
+++ b/qemu-img-cmds.hx
@@ -43,5 +43,11 @@ DEF("snapshot", img_snapshot,
     "snapshot [-l | -a snapshot | -c snapshot | -d snapshot] filename")
 STEXI
 @item snapshot [-l | -a @var{snapshot} | -c @var{snapshot} | -d @var{snapshot}] @var{filename}
+ETEXI
+
+DEF("rebase", img_rebase,
+    "rebase [-u] -b backing_file [-F backing_fmt] filename")
+STEXI
+@item rebase [-u] -b @var{backing_file} [-F @var{backing_fmt}] @var{filename}
 @end table
 ETEXI
diff --git a/qemu-img.c b/qemu-img.c
index 5ad88bf..48b9315 100644
--- a/qemu-img.c
+++ b/qemu-img.c
@@ -81,6 +81,9 @@ static void help(void)
            "    name=value format. Use -o ? for an overview of the options supported by the\n"
            "    used format\n"
            "  '-c' indicates that target image must be compressed (qcow format only)\n"
+           "  '-u' enables unsafe rebasing. It is assumed that old and new backing file\n"
+           "       match exactly. The image doesn't need a working backing file before\n"
+           "       rebasing in this case (useful for renaming the backing file)\n"
            "  '-h' with or without a command shows this help and lists the supported formats\n"
            "\n"
            "Parameters to snapshot subcommand:\n"
@@ -527,6 +530,37 @@ static int is_allocated_sectors(const uint8_t *buf, int n, int *pnum)
     return v;
 }
 
+/*
+ * Compares two buffers sector by sector. Returns 0 if the first sector of both
+ * buffers matches, non-zero otherwise.
+ *
+ * pnum is set to the number of sectors (including and immediately following
+ * the first one) that are known to have the same comparison result
+ */
+static int compare_sectors(const uint8_t *buf1, const uint8_t *buf2, int n,
+    int *pnum)
+{
+    int res, i;
+
+    if (n <= 0) {
+        *pnum = 0;
+        return 0;
+    }
+
+    res = !!memcmp(buf1, buf2, 512);
+    for(i = 1; i < n; i++) {
+        buf1 += 512;
+        buf2 += 512;
+
+        if (!!memcmp(buf1, buf2, 512) != res) {
+            break;
+        }
+    }
+
+    *pnum = i;
+    return res;
+}
+
 #define IO_BUF_SIZE (2 * 1024 * 1024)
 
 static int img_convert(int argc, char **argv)
@@ -1033,6 +1067,197 @@ static int img_snapshot(int argc, char **argv)
     return 0;
 }
 
+static int img_rebase(int argc, char **argv)
+{
+    BlockDriverState *bs, *bs_old_backing, *bs_new_backing;
+    BlockDriver *old_backing_drv, *new_backing_drv;
+    char *filename;
+    const char *out_basefmt, *out_baseimg;
+    int c, flags, ret;
+    int unsafe = 0;
+
+    /* Parse commandline parameters */
+    out_baseimg = NULL;
+    out_basefmt = NULL;
+
+    for(;;) {
+        c = getopt(argc, argv, "uhF:b:");
+        if (c == -1)
+            break;
+        switch(c) {
+        case 'h':
+            help();
+            return 0;
+        case 'F':
+            out_basefmt = optarg;
+            break;
+        case 'b':
+            out_baseimg = optarg;
+            break;
+        case 'u':
+            unsafe = 1;
+            break;
+        }
+    }
+
+    if ((optind >= argc) || !out_baseimg)
+        help();
+    filename = argv[optind++];
+
+    /*
+     * Open the images.
+     *
+     * Ignore the old backing file for unsafe rebase in case we want to correct
+     * the reference to a renamed or moved backing file.
+     */
+    bs = bdrv_new("");
+    if (!bs)
+        error("Not enough memory");
+
+    flags = BRDV_O_FLAGS | (unsafe ? BDRV_O_NO_BACKING : 0);
+    if (bdrv_open2(bs, filename, flags, NULL) < 0) {
+        error("Could not open '%s'", filename);
+    }
+
+    /* Find the right drivers for the backing files */
+    old_backing_drv = NULL;
+    new_backing_drv = NULL;
+
+    if (!unsafe && bs->backing_format[0] != '\0') {
+        old_backing_drv = bdrv_find_format(bs->backing_format);
+        if (old_backing_drv == NULL) {
+            error("Invalid format name: '%s'", bs->backing_format);
+        }
+    }
+
+    if (out_basefmt != NULL) {
+        new_backing_drv = bdrv_find_format(out_basefmt);
+        if (new_backing_drv == NULL) {
+            error("Invalid format name: '%s'", out_basefmt);
+        }
+    }
+
+    /* For safe rebasing we need to compare old and new backing file */
+    if (unsafe) {
+        /* Make the compiler happy */
+        bs_old_backing = NULL;
+        bs_new_backing = NULL;
+    } else {
+        char backing_name[1024];
+
+        bs_old_backing = bdrv_new("old_backing");
+        bdrv_get_backing_filename(bs, backing_name, sizeof(backing_name));
+        if (bdrv_open2(bs_old_backing, backing_name, BRDV_O_FLAGS,
+            old_backing_drv))
+        {
+            error("Could not open old backing file '%s'", backing_name);
+            return -1;
+        }
+
+        bs_new_backing = bdrv_new("new_backing");
+        if (bdrv_open2(bs_new_backing, out_baseimg, BRDV_O_FLAGS,
+            new_backing_drv))
+        {
+            error("Could not open new backing file '%s'", backing_name);
+            return -1;
+        }
+    }
+
+    /*
+     * Check each unallocated cluster in the COW file. If it is unallocated,
+     * accesses go to the backing file. We must therefore compare this cluster
+     * in the old and new backing file, and if they differ we need to copy it
+     * from the old backing file into the COW file.
+     *
+     * If qemu-img crashes during this step, no harm is done. The content of
+     * the image is the same as the original one at any time.
+     */
+    if (!unsafe) {
+        uint64_t num_sectors;
+        uint64_t sector;
+        int n, n1;
+        uint8_t buf_old[IO_BUF_SIZE];
+        uint8_t buf_new[IO_BUF_SIZE];
+
+        bdrv_get_geometry(bs, &num_sectors);
+
+        for (sector = 0; sector < num_sectors; sector += n) {
+
+            /* How many sectors can we handle with the next read? */
+            if (sector + (IO_BUF_SIZE / 512) <= num_sectors) {
+                n = (IO_BUF_SIZE / 512);
+            } else {
+                n = num_sectors - sector;
+            }
+
+            /* If the cluster is allocated, we don't need to take action */
+            if (bdrv_is_allocated(bs, sector, n, &n1)) {
+                n = n1;
+                continue;
+            }
+
+            /* Read old and new backing file */
+            if (bdrv_read(bs_old_backing, sector, buf_old, n) < 0) {
+                error("error while reading from old backing file");
+            }
+            if (bdrv_read(bs_new_backing, sector, buf_new, n) < 0) {
+                error("error while reading from new backing file");
+            }
+
+            /* If they differ, we need to write to the COW file */
+            uint64_t written = 0;
+
+            while (written < n) {
+                int pnum;
+
+                if (compare_sectors(buf_old + written * 512,
+                    buf_new + written * 512, n, &pnum))
+                {
+                    ret = bdrv_write(bs, sector + written,
+                        buf_old + written * 512, pnum);
+                    if (ret < 0) {
+                        error("Error while writing to COW image: %s",
+                            strerror(-ret));
+                    }
+                }
+
+                written += pnum;
+            }
+        }
+    }
+
+    /*
+     * Change the backing file. All clusters that are different from the old
+     * backing file are overwritten in the COW file now, so the visible content
+     * doesn't change when we switch the backing file.
+     */
+    ret = bdrv_change_backing_file(bs, out_baseimg, out_basefmt);
+    if (ret == -ENOSPC) {
+        error("Could not change the backing file to '%s': No space left in "
+            "the file header", out_baseimg);
+    } else if (ret < 0) {
+        error("Could not change the backing file to '%s': %s",
+            out_baseimg, strerror(-ret));
+    }
+
+    /*
+     * TODO At this point it is possible to check if any clusters that are
+     * allocated in the COW file are the same in the backing file. If so, they
+     * could be dropped from the COW file. Don't do this before switching the
+     * backing file, in case of a crash this would lead to corruption.
+     */
+
+    /* Cleanup */
+    if (!unsafe) {
+        bdrv_delete(bs_old_backing);
+        bdrv_delete(bs_new_backing);
+    }
+
+    bdrv_delete(bs);
+
+    return 0;
+}
+
 static const img_cmd_t img_cmds[] = {
 #define DEF(option, callback, arg_string)        \
     { option, callback },
