diff --git a/.changeset/flat-deers-raise.md b/.changeset/flat-deers-raise.md
new file mode 100644
index 0000000000..2595323e3a
--- /dev/null
+++ b/.changeset/flat-deers-raise.md
@@ -0,0 +1,6 @@
+---
+'@backstage/catalog-model': minor
+'@backstage/plugin-catalog-backend': minor
+---
+
+Add `dependencyOf` prop to catalog model for Component kind to enable building relationship graphs with both directions using `dependsOn` and `dependencyOf`.
diff --git a/docs/features/software-catalog/descriptor-format.md b/docs/features/software-catalog/descriptor-format.md
index 57c2283586..17bdac56e9 100644
--- a/docs/features/software-catalog/descriptor-format.md
+++ b/docs/features/software-catalog/descriptor-format.md
@@ -527,6 +527,8 @@ spec:
   system: artist-engagement-portal
   dependsOn:
     - resource:default/artists-db
+  dependencyOf:
+    - component:default/artist-web-lookup
   providesApis:
     - artist-api
 ```
@@ -636,6 +638,17 @@ field is optional.
 | [`Component`](#kind-component)          | Same as this entity, typically `default`   | [`dependsOn`, and reverse `dependencyOf`](well-known-relations.md#dependson-and-dependencyof) |
 | [`Resource`](#kind-resource)            | Same as this entity, typically `default`   | [`dependsOn`, and reverse `dependencyOf`](well-known-relations.md#dependson-and-dependencyof) |
 
+### `spec.dependencyOf` [optional]
+
+An array of [entity references](references.md#string-references) to the
+components and resources that the component is a dependency of, e.g. `artist-web-lookup`.
+This field is optional.
+
+| [`kind`](#apiversion-and-kind-required) | Default [`namespace`](#namespace-optional) | Generated [relation](well-known-relations.md) type                                            |
+| --------------------------------------- | ------------------------------------------ | --------------------------------------------------------------------------------------------- |
+| [`Component`](#kind-component)          | Same as this entity, typically `default`   | [`dependencyOf`, and reverse `dependsOn`](well-known-relations.md#dependson-and-dependencyof) |
+| [`Resource`](#kind-resource)            | Same as this entity, typically `default`   | [`dependencyOf`, and reverse `dependsOn`](well-known-relations.md#dependson-and-dependencyof) |
+
 ## Kind: Template
 
 The following describes the following entity kind:
diff --git a/packages/catalog-model/api-report.md b/packages/catalog-model/api-report.md
index de941e2502..ec03ce41e1 100644
--- a/packages/catalog-model/api-report.md
+++ b/packages/catalog-model/api-report.md
@@ -87,6 +87,7 @@ interface ComponentEntityV1alpha1 extends Entity {
     providesApis?: string[];
     consumesApis?: string[];
     dependsOn?: string[];
+    dependencyOf?: string[];
     system?: string;
   };
 }
diff --git a/packages/catalog-model/src/kinds/ComponentEntityV1alpha1.ts b/packages/catalog-model/src/kinds/ComponentEntityV1alpha1.ts
index f931eab553..9a68d26cac 100644
--- a/packages/catalog-model/src/kinds/ComponentEntityV1alpha1.ts
+++ b/packages/catalog-model/src/kinds/ComponentEntityV1alpha1.ts
@@ -38,6 +38,7 @@ export interface ComponentEntityV1alpha1 extends Entity {
     providesApis?: string[];
     consumesApis?: string[];
     dependsOn?: string[];
+    dependencyOf?: string[];
     system?: string;
   };
 }
diff --git a/plugins/catalog-backend/src/modules/core/BuiltinKindsEntityProcessor.test.ts b/plugins/catalog-backend/src/modules/core/BuiltinKindsEntityProcessor.test.ts
index e0368d40a6..8fefb62bfc 100644
--- a/plugins/catalog-backend/src/modules/core/BuiltinKindsEntityProcessor.test.ts
+++ b/plugins/catalog-backend/src/modules/core/BuiltinKindsEntityProcessor.test.ts
@@ -46,13 +46,14 @@ describe('BuiltinKindsEntityProcessor', () => {
           providesApis: ['b'],
           consumesApis: ['c'],
           dependsOn: ['Resource:r', 'Component:d'],
+          dependencyOf: ['Resource:f', 'Component:g'],
           system: 's',
         },
       };
 
       await processor.postProcessEntity(entity, location, emit);
 
-      expect(emit).toHaveBeenCalledTimes(14);
+      expect(emit).toHaveBeenCalledTimes(18);
       expect(emit).toHaveBeenCalledWith({
         type: 'relation',
         relation: {
@@ -133,6 +134,38 @@ describe('BuiltinKindsEntityProcessor', () => {
           target: { kind: 'Component', namespace: 'default', name: 'n' },
         },
       });
+      expect(emit).toHaveBeenCalledWith({
+        type: 'relation',
+        relation: {
+          source: { kind: 'Component', namespace: 'default', name: 'n' },
+          type: 'dependencyOf',
+          target: { kind: 'Resource', namespace: 'default', name: 'f' },
+        },
+      });
+      expect(emit).toHaveBeenCalledWith({
+        type: 'relation',
+        relation: {
+          source: { kind: 'Resource', namespace: 'default', name: 'f' },
+          type: 'dependsOn',
+          target: { kind: 'Component', namespace: 'default', name: 'n' },
+        },
+      });
+      expect(emit).toHaveBeenCalledWith({
+        type: 'relation',
+        relation: {
+          source: { kind: 'Component', namespace: 'default', name: 'n' },
+          type: 'dependencyOf',
+          target: { kind: 'Component', namespace: 'default', name: 'g' },
+        },
+      });
+      expect(emit).toHaveBeenCalledWith({
+        type: 'relation',
+        relation: {
+          source: { kind: 'Component', namespace: 'default', name: 'g' },
+          type: 'dependsOn',
+          target: { kind: 'Component', namespace: 'default', name: 'n' },
+        },
+      });
       expect(emit).toHaveBeenCalledWith({
         type: 'relation',
         relation: {
@@ -190,6 +223,29 @@ describe('BuiltinKindsEntityProcessor', () => {
       );
     });
 
+    it('generates an error for component entities with unspecified dependencyOf entity reference kinds', async () => {
+      const entity: ComponentEntity = {
+        apiVersion: 'backstage.io/v1alpha1',
+        kind: 'Component',
+        metadata: { name: 'n' },
+        spec: {
+          type: 'service',
+          owner: 'o',
+          subcomponentOf: 's',
+          lifecycle: 'l',
+          providesApis: ['b'],
+          consumesApis: ['c'],
+          dependencyOf: ['y'],
+          system: 's',
+        },
+      };
+      await expect(
+        processor.postProcessEntity(entity, location, emit),
+      ).rejects.toThrow(
+        'Entity reference "y" had missing or empty kind (e.g. did not start with "component:" or similar)',
+      );
+    });
+
     it('generates relations for api entities', async () => {
       const entity: ApiEntity = {
         apiVersion: 'backstage.io/v1alpha1',
diff --git a/plugins/catalog-backend/src/modules/core/BuiltinKindsEntityProcessor.ts b/plugins/catalog-backend/src/modules/core/BuiltinKindsEntityProcessor.ts
index c9ea0dbdc1..fd1195a13a 100644
--- a/plugins/catalog-backend/src/modules/core/BuiltinKindsEntityProcessor.ts
+++ b/plugins/catalog-backend/src/modules/core/BuiltinKindsEntityProcessor.ts
@@ -166,6 +166,12 @@ export class BuiltinKindsEntityProcessor implements CatalogProcessor {
         RELATION_DEPENDS_ON,
         RELATION_DEPENDENCY_OF,
       );
+      doEmit(
+        component.spec.dependencyOf,
+        { defaultNamespace: selfRef.namespace },
+        RELATION_DEPENDENCY_OF,
+        RELATION_DEPENDS_ON,
+      );
       doEmit(
         component.spec.system,
         { defaultKind: 'System', defaultNamespace: selfRef.namespace },