diff --git a/Microsoft.Toolkit.Uwp.UI.Controls.Input/ColorPicker/ColorPickerButton.cs b/Microsoft.Toolkit.Uwp.UI.Controls.Input/ColorPicker/ColorPickerButton.cs
index 34c90a5cb90..dc785d1fbba 100644
--- a/Microsoft.Toolkit.Uwp.UI.Controls.Input/ColorPicker/ColorPickerButton.cs
+++ b/Microsoft.Toolkit.Uwp.UI.Controls.Input/ColorPicker/ColorPickerButton.cs
@@ -81,7 +81,7 @@ public Color SelectedColor
         /// Identifies the <see cref="SelectedColor"/> dependency property.
         /// </summary>
         public static readonly DependencyProperty SelectedColorProperty =
-            DependencyProperty.Register(nameof(SelectedColor), typeof(Color), typeof(ColorPickerButton), new PropertyMetadata(null));
+            DependencyProperty.Register(nameof(SelectedColor), typeof(Color), typeof(ColorPickerButton), new PropertyMetadata(null, new PropertyChangedCallback(SelectedColorChanged)));
 
 #pragma warning disable SA1306 // Field names should begin with lower-case letter
         //// Template Parts
@@ -142,6 +142,14 @@ protected override void OnApplyTemplate()
             }
         }
 
+        private static void SelectedColorChanged(DependencyObject d, DependencyPropertyChangedEventArgs e)
+        {
+            if (d is ColorPickerButton instance && !(instance.ColorPicker is null))
+            {
+                instance.ColorPicker.Color = instance.SelectedColor;
+            }
+        }
+
         private void ColorPicker_ColorChanged(Microsoft.UI.Xaml.Controls.ColorPicker sender, Microsoft.UI.Xaml.Controls.ColorChangedEventArgs args)
         {
             SelectedColor = args.NewColor;
diff --git a/UITests/UITests.Tests.Shared/Controls/ColorPickerButtonTest.cs b/UITests/UITests.Tests.Shared/Controls/ColorPickerButtonTest.cs
new file mode 100644
index 00000000000..f1672919788
--- /dev/null
+++ b/UITests/UITests.Tests.Shared/Controls/ColorPickerButtonTest.cs
@@ -0,0 +1,85 @@
+// Licensed to the .NET Foundation under one or more agreements.
+// The .NET Foundation licenses this file to you under the MIT license.
+// See the LICENSE file in the project root for more information.
+
+using Microsoft.Windows.Apps.Test.Foundation.Controls;
+using Windows.UI.Xaml.Tests.MUXControls.InteractionTests.Common;
+using Windows.UI.Xaml.Tests.MUXControls.InteractionTests.Infra;
+
+#if USING_TAEF
+using WEX.Logging.Interop;
+using WEX.TestExecution;
+using WEX.TestExecution.Markup;
+#else
+using Microsoft.VisualStudio.TestTools.UnitTesting;
+#endif
+
+namespace UITests.Tests
+{
+    [TestClass]
+    public class ColorPickerButtonTest : UITestBase
+    {
+        [ClassInitialize]
+        [TestProperty("RunAs", "User")]
+        [TestProperty("Classification", "ScenarioTestSuite")]
+        [TestProperty("Platform", "Any")]
+        public static void ClassInitialize(TestContext testContext)
+        {
+            TestEnvironment.Initialize(testContext, WinUICsUWPSampleApp);
+        }
+
+        /// <summary>
+        /// This test validates the two way binding of the selected color. It verifies that
+        /// when the bound property changes this change is properly forwarded to the internal colorpicker.
+        /// See also issue #4367
+        /// </summary>
+        [TestMethod]
+        [TestPage("ColorPickerButtonTestPage")]
+        public void TwoWayTestMethod()
+        {
+            var colorpicker = new Button(FindElement.ById("TheColorPickerButton"));
+
+            var redButton = new Button(FindElement.ById("SetRedButton"));
+
+            Verify.IsNotNull(colorpicker);
+            Verify.IsNotNull(redButton);
+
+            colorpicker.Click();
+
+            Wait.ForIdle();
+            var colorInput = GetColorPickerInputField();
+
+            Verify.AreEqual("008000", colorInput.GetText());
+
+            // close the picker
+            colorpicker.Click();
+
+            Wait.ForIdle();
+
+            redButton.Click();
+
+            Wait.ForIdle();
+
+            colorpicker.Click();
+
+            var colorInput_new = GetColorPickerInputField();
+            Verify.AreEqual("FF0000", colorInput_new.GetText());
+        }
+
+        private static Edit GetColorPickerInputField()
+        {
+            var channelButton = new Button(FindElement.ByName("Channels"));
+            Verify.IsNotNull(channelButton);
+
+            Wait.ForIdle();
+
+            channelButton.Click();
+
+            Wait.ForIdle();
+
+            var colorInput = new Edit(FindElement.ByName("Hexadecimal Color Input"));
+            Verify.IsNotNull(colorInput);
+            return colorInput;
+        }
+    }
+}
\ No newline at end of file
diff --git a/UITests/UITests.Tests.Shared/Controls/ColorPickerButtonTestPage.xaml b/UITests/UITests.Tests.Shared/Controls/ColorPickerButtonTestPage.xaml
new file mode 100644
index 00000000000..27f563c0bc4
--- /dev/null
+++ b/UITests/UITests.Tests.Shared/Controls/ColorPickerButtonTestPage.xaml
@@ -0,0 +1,13 @@
+<Page x:Class="UITests.App.Pages.ColorPickerButtonTestPage"
+      xmlns="http://schemas.microsoft.com/winfx/2006/xaml/presentation"
+      xmlns:x="http://schemas.microsoft.com/winfx/2006/xaml"
+      xmlns:d="http://schemas.microsoft.com/expression/blend/2008"
+      xmlns:mc="http://schemas.openxmlformats.org/markup-compatibility/2006"
+      xmlns:controls="using:Microsoft.Toolkit.Uwp.UI.Controls"
+      Background="{ThemeResource ApplicationPageBackgroundThemeBrush}"
+      mc:Ignorable="d">
+    <StackPanel>
+        <controls:ColorPickerButton x:Name="TheColorPickerButton" SelectedColor="{x:Bind TheColor, Mode=TwoWay}" />
+        <Button Name="SetRedButton" Click="Button_Click">Set color to red</Button>
+    </StackPanel>
+</Page>
\ No newline at end of file
diff --git a/UITests/UITests.Tests.Shared/Controls/ColorPickerButtonTestPage.xaml.cs b/UITests/UITests.Tests.Shared/Controls/ColorPickerButtonTestPage.xaml.cs
new file mode 100644
index 00000000000..503105e9603
--- /dev/null
+++ b/UITests/UITests.Tests.Shared/Controls/ColorPickerButtonTestPage.xaml.cs
@@ -0,0 +1,47 @@
+// Licensed to the .NET Foundation under one or more agreements.
+// The .NET Foundation licenses this file to you under the MIT license.
+// See the LICENSE file in the project root for more information.
+
+using System.ComponentModel;
+using Windows.UI;
+using Windows.UI.Xaml;
+using Windows.UI.Xaml.Controls;
+
+namespace UITests.App.Pages
+{
+    /// <summary>
+    /// An empty page that can be used on its own or navigated to within a Frame.
+    /// </summary>
+    public sealed partial class ColorPickerButtonTestPage : Page, INotifyPropertyChanged
+    {
+        private Color _theColor = Colors.Green;
+
+        public Color TheColor
+        {
+            get => _theColor;
+            set
+            {
+                if (_theColor != value)
+                {
+                    _theColor = value;
+                    OnPropertyChanged(nameof(TheColor));
+                }
+            }
+        }
+
+        public ColorPickerButtonTestPage()
+        {
+            DataContext = this;
+            this.InitializeComponent();
+        }
+
+        public event PropertyChangedEventHandler PropertyChanged;
+
+        private void OnPropertyChanged(string propertyName) => PropertyChanged?.Invoke(this, new PropertyChangedEventArgs(propertyName));
+
+        private void Button_Click(object sender, RoutedEventArgs e)
+        {
+            TheColor = Colors.Red;
+        }
+    }
+}
\ No newline at end of file