diff --git a/lib/rackstash/filters/replace.rb b/lib/rackstash/filters/replace.rb
index 40ec694..81c6719 100644
--- a/lib/rackstash/filters/replace.rb
+++ b/lib/rackstash/filters/replace.rb
@@ -14,7 +14,8 @@ module Rackstash
     # new value which is set on the key.
     #
     # If a specified field does not exist in the event hash, it will be created
-    # with the given (or calculated) value anyway.
+    # with the given (or calculated) value anyway. To ignore a missing field,
+    # use the {Update} filter instead.
     #
     # @example
     #   Rackstash::Flow.new(STDOUT) do
diff --git a/lib/rackstash/filters/update.rb b/lib/rackstash/filters/update.rb
new file mode 100644
index 0000000..08b9478
--- /dev/null
+++ b/lib/rackstash/filters/update.rb
@@ -0,0 +1,57 @@
+# frozen_string_literal: true
+#
+# Copyright 2017 Holger Just
+#
+# This software may be modified and distributed under the terms
+# of the MIT license. See the LICENSE.txt file for details.
+
+module Rackstash
+  module Filters
+    # Update fields in the given event with new values. A new value can be
+    # specified as either a fixed value or as a `Proc` (or any other object
+    # responding to `call`). In the latter case, the callable object will be
+    # called with the event as its argument. It is then expected to return the
+    # new value which is set on the key.
+    #
+    # If a specified field does not exist in the event hash yet, it will not be
+    # set and the respective proc will not be called. To set the field with the
+    # specified value anyway, use the {Replace} filter instead.
+    #
+    # @example
+    #   Rackstash::Flow.new(STDOUT) do
+    #     filter :update, {
+    #       "sample" => ->(event) { event['key'] }
+    #     }
+    #   end
+    #
+    # You should make sure to only set a new object of one of the basic types
+    # here, namely `String`, `Integer`, `Float`, `Hash`, `Array`, `nil`, `true`,
+    # or `false`.
+    class Update
+      # @param spec [Hash<#to_s => #call,Object>] a `Hash` specifying new field
+      #   values for the named keys. Values can be given in the form of a fixed
+      #   value or a callable object (e.g. a `Proc`) which accepts the event as
+      #   its argument and returns the new value.
+      def initialize(spec)
+        @update = {}
+        Hash(spec).each_pair do |key, value|
+          @update[key.to_s] = value
+        end
+      end
+
+      # Update existing field fields in the event with a new value.
+      #
+      # @param event [Hash] an event hash
+      # return [Hash] the given `event` with the fields renamed
+      def call(event)
+        @update.each_pair do |key, value|
+          next unless event.key?(key)
+
+          value = value.call(event) if value.respond_to?(:call)
+          event[key] = value
+        end
+        event
+      end
+    end
+  end
+end
diff --git a/spec/rackstash/filters/replace_spec.rb b/spec/rackstash/filters/replace_spec.rb
index 32db849..9d5680f 100644
--- a/spec/rackstash/filters/replace_spec.rb
+++ b/spec/rackstash/filters/replace_spec.rb
@@ -21,7 +21,7 @@ describe Rackstash::Filters::Replace do
     described_class.new(spec).call(event)
   end
 
-  it 'sets evaluates values from callable objects' do
+  it 'sets evaluated values from callable objects' do
     filter!('foo' => ->(event) { event['foo'].upcase } )
     expect(event).to eql 'foo' => 'FOO VALUE', 'bar' => 'bar value'
   end
diff --git a/spec/rackstash/filters/update_spec.rb b/spec/rackstash/filters/update_spec.rb
new file mode 100644
index 0000000..e8011f5
--- /dev/null
+++ b/spec/rackstash/filters/update_spec.rb
@@ -0,0 +1,53 @@
+# frozen_string_literal: true
+#
+# Copyright 2017 Holger Just
+#
+# This software may be modified and distributed under the terms
+# of the MIT license. See the LICENSE.txt file for details.
+
+require 'spec_helper'
+
+require 'rackstash/filters/update'
+
+describe Rackstash::Filters::Update do
+  let(:event) {
+    {
+      'foo' => 'foo value',
+      'bar' => 'bar value'
+    }
+  }
+
+  def filter!(spec)
+    described_class.new(spec).call(event)
+  end
+
+  it 'sets evaluated values from callable objects' do
+    filter!('foo' => ->(event) { event['foo'].upcase } )
+    expect(event).to eql 'foo' => 'FOO VALUE', 'bar' => 'bar value'
+  end
+
+  it 'sets raw values' do
+    filter!('bar' => 123 )
+    expect(event).to eql 'foo' => 'foo value', 'bar' => 123
+  end
+
+  it 'ignores missing fields' do
+    spec = {'baz' => 42, 'boing' => ->(event) { 'quark' }}
+    expect(spec['boing']).not_to receive(:call)
+
+    filter!(spec)
+    expect(event).to eql(
+      'foo' => 'foo value',
+      'bar' => 'bar value'
+    )
+  end
+
+  it 'stringifies keys' do
+    filter!(foo: ->(event) { event['foo'].upcase } )
+    expect(event).to eql 'foo' => 'FOO VALUE', 'bar' => 'bar value'
+  end
+
+  it 'returns the given event object' do
+    expect(filter!('bar' => 'baz')).to equal event
+  end
+end