diff --git a/dvc/command/update.py b/dvc/command/update.py
index 47df68dd6..73f4d097d 100644
--- a/dvc/command/update.py
+++ b/dvc/command/update.py
@@ -14,7 +14,7 @@ class CmdUpdate(CmdBase):
         ret = 0
         for target in self.args.targets:
             try:
-                self.repo.update(target)
+                self.repo.update(target, self.args.rev)
             except DvcException:
                 logger.exception("failed to update '{}'.".format(target))
                 ret = 1
@@ -33,4 +33,7 @@ def add_parser(subparsers, parent_parser):
     update_parser.add_argument(
         "targets", nargs="+", help="DVC-files to update."
     )
+    update_parser.add_argument(
+        "--rev", nargs="?", help="Git revision (e.g. SHA, branch, tag)"
+    )
     update_parser.set_defaults(func=CmdUpdate)
diff --git a/dvc/dependency/base.py b/dvc/dependency/base.py
index 270fdbba7..08fce73a9 100644
--- a/dvc/dependency/base.py
+++ b/dvc/dependency/base.py
@@ -27,5 +27,5 @@ class DependencyBase(object):
     IsNotFileOrDirError = DependencyIsNotFileOrDirError
     IsStageFileError = DependencyIsStageFileError
 
-    def update(self):
+    def update(self, rev=None):
         pass
diff --git a/dvc/dependency/repo.py b/dvc/dependency/repo.py
index 26d58d609..53edac176 100644
--- a/dvc/dependency/repo.py
+++ b/dvc/dependency/repo.py
@@ -80,6 +80,9 @@ class DependencyREPO(DependencyLOCAL):
 
             repo.pull_to(self.def_path, to.path_info)
 
-    def update(self):
+    def update(self, rev=None):
+        if rev:
+            self.def_repo[self.PARAM_REV] = rev
+
         with self._make_repo(locked=False) as repo:
             self.def_repo[self.PARAM_REV_LOCK] = repo.scm.get_rev()
diff --git a/dvc/repo/update.py b/dvc/repo/update.py
index 9533bb6d3..44252d005 100644
--- a/dvc/repo/update.py
+++ b/dvc/repo/update.py
@@ -2,10 +2,12 @@ from . import locked
 
 
 @locked
-def update(self, target):
+def update(self, target, rev=None):
     from dvc.stage import Stage
 
     stage = Stage.load(self, target)
-    stage.update()
+    stage.update(rev)
 
     stage.dump()
+
+    return stage
diff --git a/dvc/stage.py b/dvc/stage.py
index 8c9d79b8a..79e52add9 100644
--- a/dvc/stage.py
+++ b/dvc/stage.py
@@ -405,11 +405,11 @@ class Stage(object):
 
         return self
 
-    def update(self):
+    def update(self, rev=None):
         if not self.is_repo_import and not self.is_import:
             raise StageUpdateError(self.relpath)
 
-        self.deps[0].update()
+        self.deps[0].update(rev=rev)
         locked = self.locked
         self.locked = False
         try:
diff --git a/scripts/completion/dvc.bash b/scripts/completion/dvc.bash
index f84efcf83..0727aa8ce 100644
--- a/scripts/completion/dvc.bash
+++ b/scripts/completion/dvc.bash
@@ -58,7 +58,7 @@ _dvc_run='--no-exec -f --file -c --cwd -d --deps -o --outs -O --outs-no-cache --
 _dvc_status='-j --jobs -r --remote -a --all-branches -T --all-tags -d --with-deps -c --cloud $(compgen -G *.dvc)'
 _dvc_unlock='$(compgen -G *.dvc)'
 _dvc_unprotect='$(compgen -G *)'
-_dvc_update='$(compgen -G *.dvc)'
+_dvc_update='--rev $(compgen -G *.dvc)'
 _dvc_version=''
 
 # Params
diff --git a/scripts/completion/dvc.zsh b/scripts/completion/dvc.zsh
index 7ee7386b2..4549306ac 100644
--- a/scripts/completion/dvc.zsh
+++ b/scripts/completion/dvc.zsh
@@ -273,6 +273,7 @@ _dvc_unprotect=(
 )
 
 _dvc_update=(
+  "--rev[Git revision (e.g. SHA, branch, tag)]:Revision:"
   "*:Stages:_files -g '(*.dvc|Dvcfile)'"
 )
 

Support revisions in dvc update 
```
dvc update --rev hello_world file.dvc
```
it is still not supported but it seems like a very handy alternative to re-importing:
```
dvc import --rev hello_world https://github.com/dmpetrov/dataset file
```
diff --git a/tests/func/test_update.py b/tests/func/test_update.py
index 54a5bacbf..ca69a0430 100644
--- a/tests/func/test_update.py
+++ b/tests/func/test_update.py
@@ -2,7 +2,7 @@ import pytest
 import os
 
 from dvc.stage import Stage
-from dvc.compat import fspath
+from dvc.compat import fspath, fspath_py35
 
 
 @pytest.mark.parametrize("cached", [True, False])
@@ -131,3 +131,37 @@ def test_update_import_url(tmp_dir, dvc, tmp_path_factory):
 
     assert dst.is_file()
     assert dst.read_text() == "updated file content"
+
+
+def test_update_rev(tmp_dir, dvc, scm, git_dir):
+    with git_dir.chdir():
+        git_dir.scm_gen({"foo": "foo"}, commit="first")
+
+    dvc.imp(fspath(git_dir), "foo")
+    assert (tmp_dir / "foo.dvc").exists()
+
+    with git_dir.chdir(), git_dir.branch("branch1", new=True):
+        git_dir.scm_gen({"foo": "foobar"}, commit="branch1 commit")
+        branch1_head = git_dir.scm.get_rev()
+
+    with git_dir.chdir(), git_dir.branch("branch2", new=True):
+        git_dir.scm_gen({"foo": "foobar foo"}, commit="branch2 commit")
+        branch2_head = git_dir.scm.get_rev()
+
+    stage = dvc.update("foo.dvc", rev="branch1")
+    assert stage.deps[0].def_repo == {
+        "url": fspath(git_dir),
+        "rev": "branch1",
+        "rev_lock": branch1_head,
+    }
+    with open(fspath_py35(tmp_dir / "foo")) as f:
+        assert "foobar" == f.read()
+
+    stage = dvc.update("foo.dvc", rev="branch2")
+    assert stage.deps[0].def_repo == {
+        "url": fspath(git_dir),
+        "rev": "branch2",
+        "rev_lock": branch2_head,
+    }
+    with open(fspath_py35(tmp_dir / "foo")) as f:
+        assert "foobar foo" == f.read()
diff --git a/tests/unit/command/test_update.py b/tests/unit/command/test_update.py
index 677b24a5a..468c73136 100644
--- a/tests/unit/command/test_update.py
+++ b/tests/unit/command/test_update.py
@@ -1,15 +1,19 @@
+import pytest
 from dvc.cli import parse_args
 from dvc.command.update import CmdUpdate
 
 
-def test_update(dvc, mocker):
+@pytest.mark.parametrize(
+    "command,rev", [(["update"], None), (["update", "--rev", "REV"], "REV")]
+)
+def test_update(dvc, mocker, command, rev):
     targets = ["target1", "target2", "target3"]
-    cli_args = parse_args(["update"] + targets)
+    cli_args = parse_args(command + targets)
     assert cli_args.func == CmdUpdate
     cmd = cli_args.func(cli_args)
     m = mocker.patch("dvc.repo.Repo.update")
 
     assert cmd.run() == 0
 
-    calls = [mocker.call(target) for target in targets]
+    calls = [mocker.call(target, rev) for target in targets]
     m.assert_has_calls(calls)

pip install -e .[all]
parse_log_pytest
pytest
pytest pytest-timeout pytest-cov pytest-xdist pytest-mock flaky mock xmltodict awscli google-compute-engine Pygments collective.checkdocs flake8 psutil flake8-docstrings pydocstyle jaraco.windows mock-ssh-server moto rangehttpserver
apt-get update apt-get install -y gcc
3.7
pytest --no-header -rA --tb=line --color=no -p no:cacheprovider -W ignore::DeprecationWarning
aliyun-python-sdk-core==2.16.0
aliyun-python-sdk-core-v3==2.13.33
aliyun-python-sdk-kms==2.16.5
appdirs==1.4.4
atpublic==3.1.2
attrs @ file:///croot/attrs_1668696182826/work
autocommand==2.2.2
awscli==1.31.13
azure-common==1.1.28
azure-storage-blob==2.1.0
azure-storage-common==2.1.0
bcrypt==4.2.1
boto==2.49.0
boto3==1.33.13
botocore==1.33.13
cachetools==4.2.4
certifi @ file:///croot/certifi_1671487769961/work/certifi
cffi==1.15.1
charset-normalizer==3.4.1
collective.checkdocs==0.2
colorama==0.4.4
configobj==5.0.9
coverage==7.2.7
crcmod==1.7
cryptography==44.0.2
decorator==5.1.1
distro==1.9.0
docutils==0.16
-e git+https://github.com/iterative/dvc.git@4087b020dbac200afa04586650157bf588870053#egg=dvc
execnet==2.0.2
flake8==5.0.4
flake8-docstrings==1.7.0
flaky==3.8.1
flatten-json==0.1.14
flit_core @ file:///opt/conda/conda-bld/flit-core_1644941570762/work/source/flit_core
flufl.lock==7.1.1
funcy==2.0
future==1.0.0
gitdb==4.0.12
gitdb2==4.0.2
GitPython==3.1.44
google-api-core==2.10.2
google-api-python-client==2.166.0
google-auth==1.35.0
google-auth-httplib2==0.2.0
google-cloud-core==1.7.3
google-cloud-storage==1.19.0
google-compute-engine==2.8.13
google-crc32c==1.5.0
google-resumable-media==2.7.2
googleapis-common-protos==1.69.2
grandalf==0.6
httplib2==0.22.0
humanize==4.6.0
idna==3.10
importlib-metadata==4.2.0
importlib-resources==5.12.0
inflect==3.0.2
iniconfig @ file:///home/linux1/recipes/ci/iniconfig_1610983019677/work
jaraco.classes==3.2.3
jaraco.collections==4.2.0
jaraco.context==4.3.0
jaraco.functools==3.7.0
jaraco.structures==2.1.0
jaraco.text==3.11.1
jaraco.ui==2.3.0
jaraco.windows==5.7.0
Jinja2==3.1.6
jmespath==0.10.0
jsonpath-ng==1.7.0
MarkupSafe==2.1.5
mccabe==0.7.0
mock==5.2.0
mock-ssh-server==0.9.1
more-itertools==9.1.0
moto==4.2.14
nanotime==0.5.2
networkx==2.3
numpy==1.21.6
oauth2client==4.1.3
oss2==2.6.1
packaging @ file:///croot/packaging_1671697413597/work
paramiko==3.5.1
path==16.6.0
pathspec==0.11.2
pluggy @ file:///tmp/build/80754af9/pluggy_1648042572264/work
ply==3.11
protobuf==4.24.4
psutil==7.0.0
py @ file:///opt/conda/conda-bld/py_1644396412707/work
pyarrow==0.15.1
pyasn1==0.5.1
pyasn1-modules==0.3.0
pycodestyle==2.9.1
pycparser==2.21
pycryptodome==3.22.0
pydantic==1.10.21
pydocstyle==6.3.0
pydot==2.0.0
PyDrive2==1.15.4
pyfastcopy==1.0.3
pyflakes==2.5.0
Pygments==2.17.2
PyNaCl==1.5.0
pyOpenSSL==25.0.0
pyparsing==3.1.4
pytest==7.1.2
pytest-cov==4.1.0
pytest-mock==3.11.1
pytest-timeout==2.3.1
pytest-xdist==3.5.0
python-dateutil==2.8.0
PyYAML==5.1.2
rangehttpserver==1.4.0
requests==2.31.0
responses==0.23.3
rsa==4.7.2
ruamel.yaml==0.18.10
ruamel.yaml.clib==0.2.8
s3transfer==0.8.2
shortuuid==1.0.13
six==1.17.0
smmap==5.0.2
snowballstemmer==2.2.0
speedcopy==2.1.5
texttable==1.7.0
tomli @ file:///opt/conda/conda-bld/tomli_1657175507142/work
tqdm==4.67.1
treelib==1.7.1
types-PyYAML==6.0.12.12
typing_extensions @ file:///croot/typing_extensions_1669924550328/work
uritemplate==4.1.1
urllib3==1.26.20
voluptuous==0.14.1
Werkzeug==2.2.3
xmltodict==0.14.2
zc.lockfile==3.0.post1
zipp @ file:///croot/zipp_1672387121353/work

name: dvc
channels:
  - defaults
  - https://repo.anaconda.com/pkgs/main
  - https://repo.anaconda.com/pkgs/r
  - conda-forge
dependencies:
  - _libgcc_mutex=0.1=main
  - _openmp_mutex=5.1=1_gnu
  - attrs=22.1.0=py37h06a4308_0
  - ca-certificates=2025.2.25=h06a4308_0
  - certifi=2022.12.7=py37h06a4308_0
  - flit-core=3.6.0=pyhd3eb1b0_0
  - importlib_metadata=4.11.3=hd3eb1b0_0
  - iniconfig=1.1.1=pyhd3eb1b0_0
  - ld_impl_linux-64=2.40=h12ee557_0
  - libffi=3.4.4=h6a678d5_1
  - libgcc-ng=11.2.0=h1234567_1
  - libgomp=11.2.0=h1234567_1
  - libstdcxx-ng=11.2.0=h1234567_1
  - ncurses=6.4=h6a678d5_0
  - openssl=1.1.1w=h7f8727e_0
  - packaging=22.0=py37h06a4308_0
  - pip=22.3.1=py37h06a4308_0
  - pluggy=1.0.0=py37h06a4308_1
  - py=1.11.0=pyhd3eb1b0_0
  - pytest=7.1.2=py37h06a4308_0
  - python=3.7.16=h7a1cb2a_0
  - readline=8.2=h5eee18b_0
  - setuptools=65.6.3=py37h06a4308_0
  - sqlite=3.45.3=h5eee18b_0
  - tk=8.6.14=h39e8969_0
  - tomli=2.0.1=py37h06a4308_0
  - typing_extensions=4.4.0=py37h06a4308_0
  - wheel=0.38.4=py37h06a4308_0
  - xz=5.6.4=h5eee18b_1
  - zipp=3.11.0=py37h06a4308_0
  - zlib=1.2.13=h5eee18b_1
  - pip:
      - aliyun-python-sdk-core==2.16.0
      - aliyun-python-sdk-core-v3==2.13.33
      - aliyun-python-sdk-kms==2.16.5
      - appdirs==1.4.4
      - atpublic==3.1.2
      - autocommand==2.2.2
      - awscli==1.31.13
      - azure-common==1.1.28
      - azure-storage-blob==2.1.0
      - azure-storage-common==2.1.0
      - bcrypt==4.2.1
      - boto==2.49.0
      - boto3==1.33.13
      - botocore==1.33.13
      - cachetools==4.2.4
      - cffi==1.15.1
      - charset-normalizer==3.4.1
      - collective-checkdocs==0.2
      - colorama==0.4.4
      - configobj==5.0.9
      - coverage==7.2.7
      - crcmod==1.7
      - cryptography==44.0.2
      - decorator==5.1.1
      - distro==1.9.0
      - docutils==0.16
      - dvc==0.85.0
      - execnet==2.0.2
      - flake8==5.0.4
      - flake8-docstrings==1.7.0
      - flaky==3.8.1
      - flatten-json==0.1.14
      - flufl-lock==7.1.1
      - funcy==2.0
      - future==1.0.0
      - gitdb==4.0.12
      - gitdb2==4.0.2
      - gitpython==3.1.44
      - google-api-core==2.10.2
      - google-api-python-client==2.166.0
      - google-auth==1.35.0
      - google-auth-httplib2==0.2.0
      - google-cloud-core==1.7.3
      - google-cloud-storage==1.19.0
      - google-compute-engine==2.8.13
      - google-crc32c==1.5.0
      - google-resumable-media==2.7.2
      - googleapis-common-protos==1.69.2
      - grandalf==0.6
      - httplib2==0.22.0
      - humanize==4.6.0
      - idna==3.10
      - importlib-metadata==4.2.0
      - importlib-resources==5.12.0
      - inflect==3.0.2
      - jaraco-classes==3.2.3
      - jaraco-collections==4.2.0
      - jaraco-context==4.3.0
      - jaraco-functools==3.7.0
      - jaraco-structures==2.1.0
      - jaraco-text==3.11.1
      - jaraco-ui==2.3.0
      - jaraco-windows==5.7.0
      - jinja2==3.1.6
      - jmespath==0.10.0
      - jsonpath-ng==1.7.0
      - markupsafe==2.1.5
      - mccabe==0.7.0
      - mock==5.2.0
      - mock-ssh-server==0.9.1
      - more-itertools==9.1.0
      - moto==4.2.14
      - nanotime==0.5.2
      - networkx==2.3
      - numpy==1.21.6
      - oauth2client==4.1.3
      - oss2==2.6.1
      - paramiko==3.5.1
      - path==16.6.0
      - pathspec==0.11.2
      - ply==3.11
      - protobuf==4.24.4
      - psutil==7.0.0
      - pyarrow==0.15.1
      - pyasn1==0.5.1
      - pyasn1-modules==0.3.0
      - pycodestyle==2.9.1
      - pycparser==2.21
      - pycryptodome==3.22.0
      - pydantic==1.10.21
      - pydocstyle==6.3.0
      - pydot==2.0.0
      - pydrive2==1.15.4
      - pyfastcopy==1.0.3
      - pyflakes==2.5.0
      - pygments==2.17.2
      - pynacl==1.5.0
      - pyopenssl==25.0.0
      - pyparsing==3.1.4
      - pytest-cov==4.1.0
      - pytest-mock==3.11.1
      - pytest-timeout==2.3.1
      - pytest-xdist==3.5.0
      - python-dateutil==2.8.0
      - pyyaml==5.1.2
      - rangehttpserver==1.4.0
      - requests==2.31.0
      - responses==0.23.3
      - rsa==4.7.2
      - ruamel-yaml==0.18.10
      - ruamel-yaml-clib==0.2.8
      - s3transfer==0.8.2
      - shortuuid==1.0.13
      - six==1.17.0
      - smmap==5.0.2
      - snowballstemmer==2.2.0
      - speedcopy==2.1.5
      - texttable==1.7.0
      - tqdm==4.67.1
      - treelib==1.7.1
      - types-pyyaml==6.0.12.12
      - uritemplate==4.1.1
      - urllib3==1.26.20
      - voluptuous==0.14.1
      - werkzeug==2.2.3
      - xmltodict==0.14.2
      - zc-lockfile==3.0.post1
prefix: /opt/conda/envs/dvc

tests/func/test_update.py::test_update_rev tests/unit/command/test_update.py::test_update[command0-None] tests/unit/command/test_update.py::test_update[command1-REV]
tests/func/test_update.py::test_update_import[True] tests/func/test_update.py::test_update_import[False] tests/func/test_update.py::test_update_import_after_remote_updates_to_dvc tests/func/test_update.py::test_update_before_and_after_dvc_init tests/func/test_update.py::test_update_import_url
dvc/stage.py dvc/repo/update.py dvc/command/update.py scripts/completion/dvc.bash scripts/completion/dvc.zsh dvc/dependency/base.py dvc/dependency/repo.py
dvc/stage.py dvc/repo/update.py dvc/command/update.py scripts/completion/dvc.bash scripts/completion/dvc.zsh dvc/dependency/base.py dvc/dependency/repo.py