diff --git a/src/Item/ItemVersionHistory/ItemVersionHistory.js b/src/Item/ItemVersionHistory/ItemVersionHistory.js
index 11e3cd47e..4d1d78bb2 100644
--- a/src/Item/ItemVersionHistory/ItemVersionHistory.js
+++ b/src/Item/ItemVersionHistory/ItemVersionHistory.js
@@ -1,10 +1,13 @@
-import { useContext } from 'react';
+import { useContext, useState } from 'react';
 import { useIntl } from 'react-intl';
 import PropTypes from 'prop-types';
 
-import { AuditLogPane } from '@folio/stripes-acq-components';
+import { AuditLogPane } from '@folio/stripes/components';
 
-import { useItemAuditDataQuery } from '../../hooks';
+import {
+  useItemAuditDataQuery,
+  useVersionHistory,
+} from '../../hooks';
 import { DataContext } from '../../contexts';
 import { getDateWithTime } from '../../utils';
 
@@ -42,7 +45,19 @@ const ItemVersionHistory = ({
   const { formatMessage } = useIntl();
   const referenceData = useContext(DataContext);
 
-  const { data, isLoading } = useItemAuditDataQuery(itemId);
+  const [lastVersionEventTs, setLastVersionEventTs] = useState(null);
+
+  const {
+    data,
+    totalRecords,
+    isLoading,
+  } = useItemAuditDataQuery(itemId, lastVersionEventTs);
+
+  const {
+    actionsMap,
+    isLoadedMoreVisible,
+    versionsToDisplay,
+  } = useVersionHistory(data, totalRecords);
 
   const fieldLabelsMap = {
     discoverySuppress: formatMessage({ id: 'ui-inventory.discoverySuppress' }),
@@ -91,13 +106,20 @@ const ItemVersionHistory = ({
 
   const fieldFormatter = createFieldFormatter(referenceData, circulationHistory);
 
+  const handleLoadMore = lastEventTs => {
+    setLastVersionEventTs(lastEventTs);
+  };
+
   return (
     <AuditLogPane
-      versions={data}
-      isLoading={isLoading}
+      versions={versionsToDisplay}
       onClose={onClose}
+      isLoadedMoreVisible={isLoadedMoreVisible}
+      handleLoadMore={handleLoadMore}
+      isLoading={isLoading}
       fieldLabelsMap={fieldLabelsMap}
       fieldFormatter={fieldFormatter}
+      actionsMap={actionsMap}
     />
   );
 };
diff --git a/src/hooks/index.js b/src/hooks/index.js
index d3eab25e8..173cf265f 100644
--- a/src/hooks/index.js
+++ b/src/hooks/index.js
@@ -15,6 +15,7 @@ export { default as useClassificationBrowseConfig } from './useClassificationBro
 export { default as useUpdateOwnership } from './useUpdateOwnership';
 export { default as useLocalStorageItems } from './useLocalStorageItems';
 export { default as useItemAuditDataQuery } from './useItemAuditDataQuery';
+export { default as useVersionHistory } from './useVersionHistory';
 export * from './useQuickExport';
 export * from '@folio/stripes-inventory-components/lib/queries/useInstanceDateTypes';
 export * from './useCallNumberTypesQuery';
diff --git a/src/hooks/useItemAuditDataQuery/useItemAuditDataQuery.js b/src/hooks/useItemAuditDataQuery/useItemAuditDataQuery.js
index 3163baf1f..1d9d627d4 100644
--- a/src/hooks/useItemAuditDataQuery/useItemAuditDataQuery.js
+++ b/src/hooks/useItemAuditDataQuery/useItemAuditDataQuery.js
@@ -5,18 +5,24 @@ import {
   useOkapiKy,
 } from '@folio/stripes/core';
 
-const useItemAuditDataQuery = (itemId) => {
+const useItemAuditDataQuery = (itemId, eventTs) => {
   const ky = useOkapiKy();
   const [namespace] = useNamespace({ key: 'item-audit-data' });
 
+  // eventTs param is used to load more data
   const { isLoading, data = {} } = useQuery({
-    queryKey: [namespace, itemId],
-    queryFn: () => ky.get(`audit-data/inventory/item/${itemId}`).json(),
+    queryKey: [namespace, itemId, eventTs],
+    queryFn: () => ky.get(`audit-data/inventory/item/${itemId}`, {
+      searchParams: {
+        ...(eventTs && { eventTs })
+      }
+    }).json(),
     enabled: Boolean(itemId),
   });
 
   return {
     data: data?.inventoryAuditItems || [],
+    totalRecords: data?.totalRecords,
     isLoading,
   };
 };
diff --git a/src/hooks/useVersionHistory/getActionLabel.js b/src/hooks/useVersionHistory/getActionLabel.js
new file mode 100644
index 000000000..c91228afb
--- /dev/null
+++ b/src/hooks/useVersionHistory/getActionLabel.js
@@ -0,0 +1,12 @@
+/**
+ * Gets translated change type label
+ * @param {function} formatMessage
+ * @returns {{ADDED, MODIFIED, REMOVED}}
+ */
+export const getActionLabel = formatMessage => {
+  return {
+    ADDED: formatMessage({ id: 'stripes-acq-components.audit-log.action.added' }),
+    MODIFIED: formatMessage({ id: 'stripes-acq-components.audit-log.action.edited' }),
+    REMOVED: formatMessage({ id: 'stripes-acq-components.audit-log.action.removed' }),
+  };
+};
diff --git a/src/hooks/useVersionHistory/getActionLabel.test.js b/src/hooks/useVersionHistory/getActionLabel.test.js
new file mode 100644
index 000000000..444a7c5ac
--- /dev/null
+++ b/src/hooks/useVersionHistory/getActionLabel.test.js
@@ -0,0 +1,15 @@
+import { getActionLabel } from './getActionLabel';
+
+const intl = { formatMessage: ({ id }) => id };
+
+describe('getActionLabel', () => {
+  it('should return correct action labels', () => {
+    const labels = {
+      ADDED: 'stripes-acq-components.audit-log.action.added',
+      MODIFIED: 'stripes-acq-components.audit-log.action.edited',
+      REMOVED: 'stripes-acq-components.audit-log.action.removed',
+    };
+
+    expect(getActionLabel(intl.formatMessage)).toEqual(labels);
+  });
+});
diff --git a/src/hooks/useVersionHistory/getChangedFieldsList.js b/src/hooks/useVersionHistory/getChangedFieldsList.js
new file mode 100644
index 000000000..d6c33b7f9
--- /dev/null
+++ b/src/hooks/useVersionHistory/getChangedFieldsList.js
@@ -0,0 +1,28 @@
+import { sortBy } from 'lodash';
+
+/**
+ * Merge fieldChanges and collectionChanges into a list of changed fields and sort by changeType
+ * @param {Object} diff
+ * @param {Array} diff.fieldChanges
+ * @param {Array} diff.collectionChanges
+ * @returns {Array.<{fieldName: String, changeType: String, newValue: any, oldValue: any}>}
+ */
+export const getChangedFieldsList = diff => {
+  const fieldChanges = diff.fieldChanges ? diff.fieldChanges.map(field => ({
+    fieldName: field.fieldName,
+    changeType: field.changeType,
+    newValue: field.newValue,
+    oldValue: field.oldValue,
+  })) : [];
+
+  const collectionChanges = diff.collectionChanges ? diff.collectionChanges.flatMap(collection => {
+    return collection.itemChanges.map(field => ({
+      fieldName: collection.collectionName,
+      changeType: field.changeType,
+      newValue: field.newValue,
+      oldValue: field.oldValue,
+    }));
+  }) : [];
+
+  return sortBy([...fieldChanges, ...collectionChanges], data => data.changeType);
+};
diff --git a/src/hooks/useVersionHistory/index.js b/src/hooks/useVersionHistory/index.js
new file mode 100644
index 000000000..af5a0400f
--- /dev/null
+++ b/src/hooks/useVersionHistory/index.js
@@ -0,0 +1 @@
+export { default } from './useVersionHistory';
diff --git a/src/hooks/useVersionHistory/useVersionHistory.js b/src/hooks/useVersionHistory/useVersionHistory.js
new file mode 100644
index 000000000..4ba1eb1da
--- /dev/null
+++ b/src/hooks/useVersionHistory/useVersionHistory.js
@@ -0,0 +1,104 @@
+import {
+  useEffect,
+  useMemo,
+  useState,
+} from 'react';
+import { useIntl } from 'react-intl';
+import { Link } from 'react-router-dom';
+import {
+  keyBy,
+  uniq,
+} from 'lodash';
+
+import {
+  formatDateTime,
+  useUsersBatch,
+} from '@folio/stripes-acq-components';
+
+import { getChangedFieldsList } from './getChangedFieldsList';
+import { getActionLabel } from './getActionLabel';
+
+const useVersionHistory = (data, totalRecords) => {
+  const intl = useIntl();
+  const anonymousUserLabel = intl.formatMessage({ id: 'stripes-components.versionHistory.anonymousUser' });
+
+  const [versions, setVersions] = useState([]);
+  const [usersId, setUsersId] = useState([]);
+  const [usersMap, setUsersMap] = useState({});
+  const [isLoadedMoreVisible, setIsLoadedMoreVisible] = useState(true);
+
+  const { users } = useUsersBatch(usersId);
+
+  // cleanup when component unmounts
+  useEffect(() => () => {
+    setVersions([]);
+    setUsersMap({});
+  }, []);
+
+  // update usersId when data changes
+  useEffect(() => {
+    if (!data?.length) return;
+
+    const newUsersId = uniq(data.map(version => version.userId));
+
+    setUsersId(newUsersId);
+  }, [data]);
+
+  // update usersMap when new users are fetched
+  useEffect(() => {
+    if (!users?.length) return;
+
+    setUsersMap(prevState => ({
+      ...prevState,
+      ...keyBy(users, 'id'),
+    }));
+  }, [users]);
+
+  useEffect(() => {
+    if (!data?.length) return;
+
+    setVersions(prevState => [...prevState, ...data]);
+  }, [data]);
+
+  useEffect(() => {
+    setIsLoadedMoreVisible(versions.length < totalRecords);
+  }, [versions]);
+
+  const versionsToDisplay = useMemo(
+    () => {
+      const getUserName = userId => {
+        const user = usersMap[userId];
+
+        return user ? `${user.personal.lastName}, ${user.personal.firstName}` : null;
+      };
+      const getSourceLink = userId => {
+        return userId ? <Link to={`/users/preview/${userId}`}>{getUserName(userId)}</Link> : anonymousUserLabel;
+      };
+
+      const transformDiffToVersions = diffArray => {
+        return diffArray
+          .filter(({ action }) => action !== 'CREATE')
+          .map(({ eventDate, eventTs, userId, eventId, diff }) => ({
+            eventDate: formatDateTime(eventDate, intl),
+            source: getSourceLink(userId),
+            userName: getUserName(userId) || anonymousUserLabel,
+            fieldChanges: diff ? getChangedFieldsList(diff) : [],
+            eventId,
+            eventTs,
+          }));
+      };
+
+      return transformDiffToVersions(versions);
+    }, [versions, usersMap],
+  );
+
+  const actionsMap = { ...getActionLabel(intl.formatMessage) };
+
+  return {
+    actionsMap,
+    isLoadedMoreVisible,
+    versionsToDisplay,
+  };
+};
+
+export default useVersionHistory;