diff --git a/src/components/link/link-story.ts b/src/components/link/link-story.ts
index fb49d41ab..e2895d24b 100644
--- a/src/components/link/link-story.ts
+++ b/src/components/link/link-story.ts
@@ -1,7 +1,7 @@
 /**
  * @license
  *
- * Copyright IBM Corp. 2019, 2021
+ * Copyright IBM Corp. 2019, 2022
  *
  * This source code is licensed under the Apache-2.0 license found in the
  * LICENSE file in the root directory of this source tree.
@@ -16,7 +16,7 @@ import { boolean, select } from '@storybook/addon-knobs';
 import Download16 from 'carbon-web-components/es/icons/download/16';
 import textNullable from '../../../.storybook/knob-text-nullable';
 import ifNonNull from '../../globals/directives/if-non-null';
-import { LINK_SIZE } from './link';
+import { LINK_SIZE, ICON_PLACEMENT } from './link';
 import storyDocs from './link-story.mdx';
 
 const sizes = {
@@ -25,6 +25,11 @@ const sizes = {
   [`Large size (${LINK_SIZE.LARGE})`]: LINK_SIZE.LARGE,
 };
 
+const placementTypes = {
+  [`${ICON_PLACEMENT.LEFT}`]: ICON_PLACEMENT.LEFT,
+  [`${ICON_PLACEMENT.RIGHT}`]: ICON_PLACEMENT.RIGHT,
+};
+
 export const Default = args => {
   const { disabled, download, href, hreflang, linkRole, ping, rel, size, target, type, onClick } = args?.['bx-link'] ?? {};
   return html`
@@ -48,13 +53,15 @@ export const Default = args => {
 Default.storyName = 'Default';
 
 export const pairedWithIcon = args => {
-  const { disabled, download, href, hreflang, linkRole, ping, rel, size, target, type, onClick } = args?.['bx-link'] ?? {};
+  const { disabled, download, href, hreflang, iconPlacement, linkRole, ping, rel, size, target, type, onClick } =
+    args?.['bx-link-with-icon'] ?? {};
   return html`
     <bx-link
       ?disabled="${disabled}"
       download="${ifNonNull(download)}"
       href="${ifNonNull(href)}"
       hreflang="${ifNonNull(hreflang)}"
+      icon-placement="${iconPlacement}"
       link-role="${ifNonNull(linkRole)}"
       ping="${ifNonNull(ping)}"
       rel="${ifNonNull(rel)}"
@@ -67,6 +74,14 @@ export const pairedWithIcon = args => {
   `;
 };
 
+pairedWithIcon.parameters = {
+  knobs: {
+    'bx-link-with-icon': () => ({
+      iconPlacement: select('Icon Position (icon-placement):', placementTypes, placementTypes[`${ICON_PLACEMENT.RIGHT}`]),
+    }),
+  },
+};
+
 export default {
   title: 'Components/Link',
   parameters: {
diff --git a/src/components/link/link.scss b/src/components/link/link.scss
index a8019d326..a4b4ddfc5 100644
--- a/src/components/link/link.scss
+++ b/src/components/link/link.scss
@@ -1,5 +1,5 @@
 //
-// Copyright IBM Corp. 2019, 2021
+// Copyright IBM Corp. 2019, 2022
 //
 // This source code is licensed under the Apache-2.0 license found in the
 // LICENSE file in the root directory of this source tree.
@@ -20,4 +20,24 @@ $css--plex: true !default;
   .#{$prefix}--link__icon[hidden] {
     display: none;
   }
+
+  &.#{$prefix}--link-with-icon__icon-left,
+  .#{$prefix}--link-with-icon.#{$prefix}--link-with-icon--inline-icon.#{$prefix}--link-with-icon__icon-left {
+    display: flex;
+    justify-content: flex-end;
+    flex-direction: row-reverse;
+
+    .#{$prefix}--link__icon {
+      margin-left: 0;
+    }
+
+    svg,
+    ::slotted(svg[slot='icon']) {
+      align-self: start;
+      position: relative;
+      margin-left: 0;
+      margin-right: $carbon--spacing-03;
+      top: 1px;
+    }
+  }
 }
diff --git a/src/components/link/link.ts b/src/components/link/link.ts
index da8d27e67..6b3f4cbeb 100644
--- a/src/components/link/link.ts
+++ b/src/components/link/link.ts
@@ -1,7 +1,7 @@
 /**
  * @license
  *
- * Copyright IBM Corp. 2019, 2021
+ * Copyright IBM Corp. 2019, 2022
  *
  * This source code is licensed under the Apache-2.0 license found in the
  * LICENSE file in the root directory of this source tree.
@@ -10,10 +10,13 @@
 import { classMap } from 'lit-html/directives/class-map';
 import { html, property, customElement, LitElement, query } from 'lit-element';
 import settings from 'carbon-components/es/globals/js/settings';
+import { ICON_PLACEMENT } from '../../globals/defs';
 import ifNonNull from '../../globals/directives/if-non-null';
 import FocusMixin from '../../globals/mixins/focus';
 import styles from './link.scss';
 
+export { ICON_PLACEMENT };
+
 const { prefix } = settings;
 
 /**
@@ -149,6 +152,18 @@ class BXLink extends FocusMixin(LitElement) {
   @property({ reflect: true })
   hreflang!: string;
 
+  /**
+   * Icon placement(right (default) | left)
+   */
+  @property({ attribute: 'icon-placement', reflect: true })
+  iconPlacement = ICON_PLACEMENT.RIGHT;
+
+  /**
+   * Positions the icon inline with text when `true`
+   */
+  @property({ type: Boolean })
+  iconInline = true;
+
   /**
    * The a11y role for `<a>`.
    */
@@ -192,6 +207,22 @@ class BXLink extends FocusMixin(LitElement) {
     });
   }
 
+  updated() {
+    const { iconInline, iconPlacement, _linkNode: linkNode } = this;
+    if (linkNode) {
+      linkNode.classList.add(`${prefix}--link-with-icon`);
+      linkNode.classList.toggle(`${prefix}--link-with-icon__icon-${ICON_PLACEMENT.LEFT}`, iconPlacement === ICON_PLACEMENT.LEFT);
+      linkNode.classList.toggle(
+        `${prefix}--link-with-icon__icon-${ICON_PLACEMENT.RIGHT}`,
+        iconPlacement === ICON_PLACEMENT.RIGHT
+      );
+
+      if (iconInline && iconPlacement === ICON_PLACEMENT.RIGHT) {
+        linkNode.classList.add(`${prefix}--link-with-icon--inline-icon`);
+      }
+    }
+  }
+
   render() {
     const { disabled } = this;
     return disabled ? this._renderDisabledLink() : this._renderLink();
diff --git a/src/globals/defs.ts b/src/globals/defs.ts
new file mode 100644
index 000000000..993d2427b
--- /dev/null
+++ b/src/globals/defs.ts
@@ -0,0 +1,23 @@
+/**
+ * @license
+ *
+ * Copyright IBM Corp. 2022
+ *
+ * This source code is licensed under the Apache-2.0 license found in the
+ * LICENSE file in the root directory of this source tree.
+ */
+
+/**
+ * Icon Placement.
+ */
+export enum ICON_PLACEMENT {
+  /**
+   * left of footer copy
+   */
+  LEFT = 'left',
+
+  /**
+   * right of footer copy
+   */
+  RIGHT = 'right',
+}