diff --git a/Applications/FileManager/DirectoryModel.cpp b/Applications/FileManager/DirectoryModel.cpp
index 8ec45ea55a..0b3bd1d50a 100644
--- a/Applications/FileManager/DirectoryModel.cpp
+++ b/Applications/FileManager/DirectoryModel.cpp
@@ -6,6 +6,8 @@
 #include <pwd.h>
 #include <AK/FileSystemPath.h>
 #include <AK/StringBuilder.h>
+#include <SharedGraphics/GraphicsBitmap.h>
+#include <SharedGraphics/Painter.h>
 
 DirectoryModel::DirectoryModel()
 {
@@ -79,8 +81,18 @@ const GraphicsBitmap& DirectoryModel::icon_for(const Entry& entry) const
         return *m_socket_icon;
     if (entry.mode & S_IXUSR)
         return *m_executable_icon;
-    if (entry.name.ends_with(".png"))
-        return *m_filetype_image_icon;
+    if (entry.name.ends_with(".png")) {
+        if (!entry.thumbnail) {
+            if (auto png_bitmap = GraphicsBitmap::load_from_file(entry.full_path(*this))) {
+                entry.thumbnail = GraphicsBitmap::create(png_bitmap->format(), { 32, 32 });
+                Painter painter(*entry.thumbnail);
+                painter.draw_scaled_bitmap(entry.thumbnail->rect(), *png_bitmap, png_bitmap->rect());
+            }
+        }
+        if (!entry.thumbnail)
+            return *m_filetype_image_icon;
+        return *entry.thumbnail;
+    }
     return *m_file_icon;
 }
 
diff --git a/Applications/FileManager/DirectoryModel.h b/Applications/FileManager/DirectoryModel.h
index 592eac9887..6e743596e5 100644
--- a/Applications/FileManager/DirectoryModel.h
+++ b/Applications/FileManager/DirectoryModel.h
@@ -45,8 +45,10 @@ private:
         uid_t uid { 0 };
         uid_t gid { 0 };
         ino_t inode { 0 };
+        mutable RetainPtr<GraphicsBitmap> thumbnail;
         bool is_directory() const { return S_ISDIR(mode); }
         bool is_executable() const { return mode & S_IXUSR; }
+        String full_path(const DirectoryModel& model) const { return String::format("%s/%s", model.path().characters(), name.characters()); }
     };
 
     const Entry& entry(int index) const
diff --git a/SharedGraphics/GraphicsBitmap.h b/SharedGraphics/GraphicsBitmap.h
index 26f3efa396..e48584df69 100644
--- a/SharedGraphics/GraphicsBitmap.h
+++ b/SharedGraphics/GraphicsBitmap.h
@@ -30,6 +30,7 @@ public:
     int shared_buffer_id() const { return m_shared_buffer ? m_shared_buffer->shared_buffer_id() : -1; }
 
     bool has_alpha_channel() const { return m_format == Format::RGBA32; }
+    Format format() const { return m_format; }
 
 private:
     GraphicsBitmap(Format, const Size&);