diff --git a/src/assets/scss/_utilities.scss b/src/assets/scss/_utilities.scss
index 1cdaf84bab..2caa9558e5 100644
--- a/src/assets/scss/_utilities.scss
+++ b/src/assets/scss/_utilities.scss
@@ -9,3 +9,7 @@
 .mw-300px {
   max-width: 300px;
 }
+
+.right-0 {
+  right: 0;
+}
diff --git a/src/library-authoring/LibraryBlock/LibraryBlock.tsx b/src/library-authoring/LibraryBlock/LibraryBlock.tsx
new file mode 100644
index 0000000000..87defc0d83
--- /dev/null
+++ b/src/library-authoring/LibraryBlock/LibraryBlock.tsx
@@ -0,0 +1,93 @@
+import { useEffect, useRef, useState } from 'react';
+import { useIntl } from '@edx/frontend-platform/i18n';
+import { getConfig } from '@edx/frontend-platform';
+
+import messages from './messages';
+
+interface LibraryBlockProps {
+  onBlockNotification?: (event: { eventType: string; [key: string]: any }) => void;
+  usageKey: string;
+}
+/**
+ * React component that displays an XBlock in a sandboxed IFrame.
+ *
+ * The IFrame is resized responsively so that it fits the content height.
+ *
+ * We use an IFrame so that the XBlock code, including user-authored HTML,
+ * cannot access things like the user's cookies, nor can it make GET/POST
+ * requests as the user. However, it is allowed to call any XBlock handlers.
+ */
+const LibraryBlock = ({ onBlockNotification, usageKey }: LibraryBlockProps) => {
+  const iframeRef = useRef<HTMLIFrameElement>(null);
+  const [iFrameHeight, setIFrameHeight] = useState(600);
+  const lmsBaseUrl = getConfig().LMS_BASE_URL;
+
+  const intl = useIntl();
+
+  /**
+   * Handle any messages we receive from the XBlock Runtime code in the IFrame.
+   * See wrap.ts to see the code that sends these messages.
+   */
+  /* istanbul ignore next */
+  const receivedWindowMessage = async (event) => {
+    if (!iframeRef.current || event.source !== iframeRef.current.contentWindow) {
+      return; // This is some other random message.
+    }
+
+    const { method, replyKey, ...args } = event.data;
+
+    if (method === 'update_frame_height') {
+      setIFrameHeight(args.height);
+    } else if (method?.indexOf('xblock:') === 0) {
+      // This is a notification from the XBlock's frontend via 'runtime.notify(event, args)'
+      if (onBlockNotification) {
+        onBlockNotification({
+          eventType: method.substr(7), // Remove the 'xblock:' prefix that we added in wrap.ts
+          ...args,
+        });
+      }
+    }
+  };
+
+  /**
+   * Prepare to receive messages from the IFrame.
+   */
+  useEffect(() => {
+    // Messages are the only way that the code in the IFrame can communicate
+    // with the surrounding UI.
+    window.addEventListener('message', receivedWindowMessage);
+
+    return () => {
+      window.removeEventListener('message', receivedWindowMessage);
+    };
+  }, []);
+
+  return (
+    <div style={{
+      height: `${iFrameHeight}px`,
+      boxSizing: 'content-box',
+      position: 'relative',
+      overflow: 'hidden',
+      minHeight: '200px',
+    }}
+    >
+      <iframe
+        ref={iframeRef}
+        title={intl.formatMessage(messages.iframeTitle)}
+        src={`${lmsBaseUrl}/xblocks/v2/${usageKey}/embed/student_view/`}
+        data-testid="block-preview"
+        style={{
+          width: '100%',
+          height: '100%',
+          minHeight: '200px',
+          border: '0 none',
+        }}
+        // allowing 'autoplay' is required to allow the video XBlock to control the YouTube iframe it has.
+        allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture"
+
+      />
+    </div>
+  );
+};
+
+export default LibraryBlock;
diff --git a/src/library-authoring/LibraryBlock/index.ts b/src/library-authoring/LibraryBlock/index.ts
new file mode 100644
index 0000000000..a6bb1665df
--- /dev/null
+++ b/src/library-authoring/LibraryBlock/index.ts
@@ -0,0 +1,2 @@
+/* eslint-disable-next-line import/prefer-default-export */
+export { default as LibraryBlock } from './LibraryBlock';
diff --git a/src/library-authoring/LibraryBlock/messages.ts b/src/library-authoring/LibraryBlock/messages.ts
new file mode 100644
index 0000000000..f325b60d3f
--- /dev/null
+++ b/src/library-authoring/LibraryBlock/messages.ts
@@ -0,0 +1,11 @@
+import { defineMessages } from '@edx/frontend-platform/i18n';
+
+const messages = defineMessages({
+  iframeTitle: {
+    id: 'course-authoring.library-authoring.library-block.iframe-title',
+    defaultMessage: 'Preview',
+    description: 'The title for the LibraryBlock iframe',
+  },
+});
+
+export default messages;
diff --git a/src/library-authoring/component-info/ComponentInfo.tsx b/src/library-authoring/component-info/ComponentInfo.tsx
index f17dbff3e4..3e71570170 100644
--- a/src/library-authoring/component-info/ComponentInfo.tsx
+++ b/src/library-authoring/component-info/ComponentInfo.tsx
@@ -11,13 +11,14 @@ import { Link } from 'react-router-dom';
 import { getEditUrl } from '../components/utils';
 import { ComponentMenu } from '../components';
 import { ComponentDeveloperInfo } from './ComponentDeveloperInfo';
+import ComponentPreview from './ComponentPreview';
 import messages from './messages';
 
 interface ComponentInfoProps {
   usageKey: string;
 }
 
-const ComponentInfo = ({ usageKey } : ComponentInfoProps) => {
+const ComponentInfo = ({ usageKey }: ComponentInfoProps) => {
   const intl = useIntl();
   const editUrl = getEditUrl(usageKey);
 
@@ -42,7 +43,7 @@ const ComponentInfo = ({ usageKey } : ComponentInfoProps) => {
         defaultActiveKey="preview"
       >
         <Tab eventKey="preview" title={intl.formatMessage(messages.previewTabTitle)}>
-          Preview tab placeholder
+          <ComponentPreview usageKey={usageKey} />
         </Tab>
         <Tab eventKey="manage" title={intl.formatMessage(messages.manageTabTitle)}>
           Manage tab placeholder
diff --git a/src/library-authoring/component-info/ComponentPreview.scss b/src/library-authoring/component-info/ComponentPreview.scss
new file mode 100644
index 0000000000..0baf5ebcb2
--- /dev/null
+++ b/src/library-authoring/component-info/ComponentPreview.scss
@@ -0,0 +1,3 @@
+.component-preview-modal {
+  min-width: map-get($grid-breakpoints, "md");
+}
diff --git a/src/library-authoring/component-info/ComponentPreview.tsx b/src/library-authoring/component-info/ComponentPreview.tsx
new file mode 100644
index 0000000000..b3a12315ae
--- /dev/null
+++ b/src/library-authoring/component-info/ComponentPreview.tsx
@@ -0,0 +1,64 @@
+import React from 'react';
+import { useIntl } from '@edx/frontend-platform/i18n';
+import { Button, StandardModal, useToggle } from '@openedx/paragon';
+import { OpenInFull } from '@openedx/paragon/icons';
+
+import { LibraryBlock } from '../LibraryBlock';
+import messages from './messages';
+
+// This is a simple overlay to prevent interaction with the preview
+const PreviewOverlay = () => (
+  <div className="position-absolute w-100 h-100 zindex-9" />
+);
+
+interface ModalComponentPreviewProps {
+  isOpen: boolean;
+  close: () => void;
+  usageKey: string;
+}
+
+const ModalComponentPreview = ({ isOpen, close, usageKey }: ModalComponentPreviewProps) => {
+  const intl = useIntl();
+
+  return (
+    <StandardModal
+      title={intl.formatMessage(messages.previewModalTitle)}
+      isOpen={isOpen}
+      onClose={close}
+      className="component-preview-modal"
+    >
+      <LibraryBlock usageKey={usageKey} />
+    </StandardModal>
+  );
+};
+
+interface ComponentPreviewProps {
+  usageKey: string;
+}
+
+const ComponentPreview = ({ usageKey }: ComponentPreviewProps) => {
+  const intl = useIntl();
+
+  const [isModalOpen, openModal, closeModal] = useToggle();
+
+  return (
+    <>
+      <div className="position-relative m-2">
+        <PreviewOverlay />
+        <Button
+          size="sm"
+          variant="light"
+          iconBefore={OpenInFull}
+          onClick={openModal}
+          className="position-absolute right-0 zindex-10 m-1"
+        >
+          {intl.formatMessage(messages.previewExpandButtonTitle)}
+        </Button>
+        <LibraryBlock usageKey={usageKey} />
+      </div>
+      <ModalComponentPreview isOpen={isModalOpen} close={closeModal} usageKey={usageKey} />
+    </>
+  );
+};
+
+export default ComponentPreview;
diff --git a/src/library-authoring/component-info/messages.ts b/src/library-authoring/component-info/messages.ts
index 000a51946c..e945064cee 100644
--- a/src/library-authoring/component-info/messages.ts
+++ b/src/library-authoring/component-info/messages.ts
@@ -41,6 +41,16 @@ const messages = defineMessages({
     defaultMessage: 'Details',
     description: 'Title for details tab',
   },
+  previewExpandButtonTitle: {
+    id: 'course-authoring.library-authoring.component.preview.expand.title',
+    defaultMessage: 'Expand',
+    description: 'Title for expand preview button',
+  },
+  previewModalTitle: {
+    id: 'course-authoring.library-authoring.component.preview.modal.title',
+    defaultMessage: 'Component Preview',
+    description: 'Title for preview modal',
+  },
 });
 
 export default messages;
diff --git a/src/library-authoring/data/api.ts b/src/library-authoring/data/api.ts
index e5ca502c56..2b4f775307 100644
--- a/src/library-authoring/data/api.ts
+++ b/src/library-authoring/data/api.ts
@@ -7,23 +7,29 @@ const getApiBaseUrl = () => getConfig().STUDIO_BASE_URL;
  * Get the URL for the content library API.
  */
 export const getContentLibraryApiUrl = (libraryId: string) => `${getApiBaseUrl()}/api/libraries/v2/${libraryId}/`;
+
 /**
  * Get the URL for getting block types of a library (what types can be created).
  */
 export const getLibraryBlockTypesUrl = (libraryId: string) => `${getApiBaseUrl()}/api/libraries/v2/${libraryId}/block_types/`;
+
 /**
  * Get the URL for create content in library.
  */
 export const getCreateLibraryBlockUrl = (libraryId: string) => `${getApiBaseUrl()}/api/libraries/v2/${libraryId}/blocks/`;
+
 export const getContentLibraryV2ListApiUrl = () => `${getApiBaseUrl()}/api/libraries/v2/`;
+
 /**
  * Get the URL for commit/revert changes in library.
  */
 export const getCommitLibraryChangesUrl = (libraryId: string) => `${getApiBaseUrl()}/api/libraries/v2/${libraryId}/commit/`;
+
 /**
  * Get the URL for paste clipboard content into library.
  */
 export const getLibraryPasteClipboardUrl = (libraryId: string) => `${getApiBaseUrl()}/api/libraries/v2/${libraryId}/paste_clipboard/`;
+
 /**
   * Get the URL for the xblock fields/metadata API.
   */
diff --git a/src/library-authoring/index.scss b/src/library-authoring/index.scss
index a2acbe2a81..a82de4942f 100644
--- a/src/library-authoring/index.scss
+++ b/src/library-authoring/index.scss
@@ -1,3 +1,4 @@
+@import "library-authoring/component-info/ComponentPreview";
 @import "library-authoring/components/ComponentCard";
 @import "library-authoring/library-info/LibraryPublishStatus";
 @import "library-authoring/LibraryAuthoringPage";