diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9b03eaf4c861..183d82e4f5d5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -14,6 +14,7 @@
 ### Fixes
 
 - [#8714](https://github.com/blockscout/blockscout/pull/8714) - Fix sourcify check 
+- [#8706](https://github.com/blockscout/blockscout/pull/8706) - Add address name updating on contract re-verification
 - [#8705](https://github.com/blockscout/blockscout/pull/8705) - Fix sourcify enabled flag
 - [#8695](https://github.com/blockscout/blockscout/pull/8695) - Don't override internal transaction error if it's present already
 - [#8685](https://github.com/blockscout/blockscout/pull/8685) - Fix db pool size exceeds Postgres max connections
diff --git a/apps/explorer/lib/explorer/chain.ex b/apps/explorer/lib/explorer/chain.ex
index 09a01377cd05..bc0dde821ba8 100644
--- a/apps/explorer/lib/explorer/chain.ex
+++ b/apps/explorer/lib/explorer/chain.ex
@@ -3683,6 +3683,7 @@ defmodule Explorer.Chain do
     # Enforce ShareLocks tables order (see docs: sharelocks.md)
     insert_contract_query =
       Multi.new()
+      |> Multi.run(:clear_primary_address_names, fn repo, _ -> clear_primary_address_names(repo, address_hash) end)
       |> Multi.update(:smart_contract, smart_contract_changeset)
 
     insert_contract_query_with_additional_sources =
@@ -3696,6 +3697,8 @@ defmodule Explorer.Chain do
       insert_contract_query_with_additional_sources
       |> Repo.transaction()
 
+    create_address_name(Repo, Changeset.get_field(smart_contract_changeset, :name), address_hash)
+
     case insert_result do
       {:ok, %{smart_contract: smart_contract}} ->
         {:ok, smart_contract}