diff --git a/platform/lang-impl/src/com/intellij/codeInsight/template/impl/LiveTemplateLookupActionProvider.java b/platform/lang-impl/src/com/intellij/codeInsight/template/impl/LiveTemplateLookupActionProvider.java
new file mode 100644
index 000000000000..121dc776b541
--- /dev/null
+++ b/platform/lang-impl/src/com/intellij/codeInsight/template/impl/LiveTemplateLookupActionProvider.java
@@ -0,0 +1,45 @@
+package com.intellij.codeInsight.template.impl;
+
+import com.intellij.codeInsight.lookup.Lookup;
+import com.intellij.codeInsight.lookup.LookupActionProvider;
+import com.intellij.codeInsight.lookup.LookupElement;
+import com.intellij.codeInsight.lookup.LookupElementAction;
+import com.intellij.openapi.application.ApplicationManager;
+import com.intellij.openapi.options.ShowSettingsUtil;
+import com.intellij.openapi.project.Project;
+import com.intellij.util.Consumer;
+import com.intellij.util.PlatformIcons;
+
+/**
+ * @author peter
+ */
+public class LiveTemplateLookupActionProvider implements LookupActionProvider{
+  @Override
+  public void fillActions(LookupElement element, final Lookup lookup, Consumer<LookupElementAction> consumer) {
+    if (element instanceof LiveTemplateLookupElement) {
+      final TemplateImpl template = ((LiveTemplateLookupElement)element).getTemplate();
+
+      consumer.consume(new LookupElementAction(PlatformIcons.EDIT, "Edit live template settings") {
+        @Override
+        public Result performLookupAction() {
+          final Project project = lookup.getEditor().getProject();
+          assert project != null;
+          ApplicationManager.getApplication().invokeLater(new Runnable() {
+            public void run() {
+              if (project.isDisposed()) return;
+
+              final LiveTemplatesConfigurable configurable = new LiveTemplatesConfigurable();
+              ShowSettingsUtil.getInstance().editConfigurable(project, configurable, new Runnable() {
+                @Override
+                public void run() {
+                  configurable.getTemplateListPanel().editTemplate(template);
+                }
+              });
+            }
+          });
+          return Result.HIDE_LOOKUP;
+        }
+      });
+    }
+  }
+}
diff --git a/platform/platform-resources/src/META-INF/LangExtensions.xml b/platform/platform-resources/src/META-INF/LangExtensions.xml
index 70f1e44912b1..fa464b836fa0 100644
--- a/platform/platform-resources/src/META-INF/LangExtensions.xml
+++ b/platform/platform-resources/src/META-INF/LangExtensions.xml
@@ -317,6 +317,7 @@
 
   <!-- Live Templates -->
   <applicationConfigurable instance="com.intellij.codeInsight.template.impl.LiveTemplatesConfigurable"/>
+  <lookup.actionProvider implementation="com.intellij.codeInsight.template.impl.LiveTemplateLookupActionProvider"/>
 
   <!-- File Templates-->
   <applicationConfigurable instance="com.intellij.ide.fileTemplates.impl.AllFileTemplatesConfigurable"/>