diff --git a/doc/classes/Node.xml b/doc/classes/Node.xml
index 42418b3e8dd..7d76676854e 100644
--- a/doc/classes/Node.xml
+++ b/doc/classes/Node.xml
@@ -845,6 +845,13 @@
 				Emitted when the node is renamed.
 			</description>
 		</signal>
+		<signal name="replacing_by">
+			<param index="0" name="node" type="Node" />
+			<description>
+				Emitted when this node is being replaced by the [param node], see [method replace_by].
+				This signal is emitted [i]after[/i] [param node] has been added as a child of the original parent node, but [i]before[/i] all original child nodes have been reparented to [param node].
+			</description>
+		</signal>
 		<signal name="tree_entered">
 			<description>
 				Emitted when the node enters the tree.
diff --git a/editor/editor_node.cpp b/editor/editor_node.cpp
index 3681f61cd8b..b441855fc54 100644
--- a/editor/editor_node.cpp
+++ b/editor/editor_node.cpp
@@ -3430,10 +3430,12 @@ void EditorNode::_remove_scene(int index, bool p_change_tab) {
 }
 
 void EditorNode::set_edited_scene(Node *p_scene) {
-	if (get_editor_data().get_edited_scene_root()) {
-		if (get_editor_data().get_edited_scene_root()->get_parent() == scene_root) {
-			scene_root->remove_child(get_editor_data().get_edited_scene_root());
+	Node *old_edited_scene_root = get_editor_data().get_edited_scene_root();
+	if (old_edited_scene_root) {
+		if (old_edited_scene_root->get_parent() == scene_root) {
+			scene_root->remove_child(old_edited_scene_root);
 		}
+		old_edited_scene_root->disconnect(SNAME("replacing_by"), callable_mp(this, &EditorNode::set_edited_scene));
 	}
 	get_editor_data().set_edited_scene_root(p_scene);
 
@@ -3449,6 +3451,7 @@ void EditorNode::set_edited_scene(Node *p_scene) {
 		if (p_scene->get_parent() != scene_root) {
 			scene_root->add_child(p_scene, true);
 		}
+		p_scene->connect(SNAME("replacing_by"), callable_mp(this, &EditorNode::set_edited_scene));
 	}
 }
 
diff --git a/editor/scene_tree_dock.cpp b/editor/scene_tree_dock.cpp
index 96166dab3fe..bdb9cd75c31 100644
--- a/editor/scene_tree_dock.cpp
+++ b/editor/scene_tree_dock.cpp
@@ -2468,11 +2468,6 @@ void SceneTreeDock::replace_node(Node *p_node, Node *p_by_node, bool p_keep_prop
 	}
 	n->replace_by(newnode, true);
 
-	if (n == edited_scene) {
-		edited_scene = newnode;
-		EditorNode::get_singleton()->set_edited_scene(newnode);
-	}
-
 	//small hack to make collisionshapes and other kind of nodes to work
 	for (int i = 0; i < newnode->get_child_count(); i++) {
 		Node *c = newnode->get_child(i);
diff --git a/scene/main/node.cpp b/scene/main/node.cpp
index b947526e968..8f3c8453cc6 100644
--- a/scene/main/node.cpp
+++ b/scene/main/node.cpp
@@ -2500,6 +2500,8 @@ void Node::replace_by(Node *p_node, bool p_keep_groups) {
 		parent->move_child(p_node, index_in_parent);
 	}
 
+	emit_signal(SNAME("replacing_by"), p_node);
+
 	while (get_child_count()) {
 		Node *child = get_child(0);
 		remove_child(child);
@@ -3040,7 +3042,9 @@ void Node::_bind_methods() {
 	ADD_SIGNAL(MethodInfo("tree_exited"));
 	ADD_SIGNAL(MethodInfo("child_entered_tree", PropertyInfo(Variant::OBJECT, "node", PROPERTY_HINT_NONE, "", PROPERTY_USAGE_DEFAULT, "Node")));
 	ADD_SIGNAL(MethodInfo("child_exiting_tree", PropertyInfo(Variant::OBJECT, "node", PROPERTY_HINT_NONE, "", PROPERTY_USAGE_DEFAULT, "Node")));
+
 	ADD_SIGNAL(MethodInfo("child_order_changed"));
+	ADD_SIGNAL(MethodInfo("replacing_by", PropertyInfo(Variant::OBJECT, "node", PROPERTY_HINT_NONE, "", PROPERTY_USAGE_DEFAULT, "Node")));
 
 	ADD_PROPERTY(PropertyInfo(Variant::STRING_NAME, "name", PROPERTY_HINT_NONE, "", PROPERTY_USAGE_NONE), "set_name", "get_name");
 	ADD_PROPERTY(PropertyInfo(Variant::BOOL, "unique_name_in_owner", PROPERTY_HINT_NONE, "", PROPERTY_USAGE_NO_EDITOR), "set_unique_name_in_owner", "is_unique_name_in_owner");