diff --git a/x-pack/plugins/alerting/server/saved_objects/migrations/8.8/index.ts b/x-pack/plugins/alerting/server/saved_objects/migrations/8.8/index.ts
index fb90230f64f6f..3f6d2df5192fe 100644
--- a/x-pack/plugins/alerting/server/saved_objects/migrations/8.8/index.ts
+++ b/x-pack/plugins/alerting/server/saved_objects/migrations/8.8/index.ts
@@ -8,7 +8,7 @@
 import { SavedObjectUnsanitizedDoc } from '@kbn/core-saved-objects-server';
 import { EncryptedSavedObjectsPluginSetup } from '@kbn/encrypted-saved-objects-plugin/server';
 import { v4 as uuidv4 } from 'uuid';
-import { createEsoMigration, pipeMigrations } from '../utils';
+import { createEsoMigration, isDetectionEngineAADRuleType, pipeMigrations } from '../utils';
 import { RawRule } from '../../../types';
 
 function addRevision(doc: SavedObjectUnsanitizedDoc<RawRule>): SavedObjectUnsanitizedDoc<RawRule> {
@@ -16,7 +16,7 @@ function addRevision(doc: SavedObjectUnsanitizedDoc<RawRule>): SavedObjectUnsani
     ...doc,
     attributes: {
       ...doc.attributes,
-      revision: 0,
+      revision: isDetectionEngineAADRuleType(doc) ? (doc.attributes.params.version as number) : 0,
     },
   };
 }
diff --git a/x-pack/plugins/alerting/server/saved_objects/migrations/index.test.ts b/x-pack/plugins/alerting/server/saved_objects/migrations/index.test.ts
index aba9b085f70dc..2cd4eb0d05216 100644
--- a/x-pack/plugins/alerting/server/saved_objects/migrations/index.test.ts
+++ b/x-pack/plugins/alerting/server/saved_objects/migrations/index.test.ts
@@ -2660,6 +2660,14 @@ describe('successful migrations', () => {
       const migratedAlert880 = migration880(rule, migrationContext);
       expect(migratedAlert880.attributes.revision).toEqual(0);
     });
+
+    test('migrates security rule version to revision', () => {
+      const migration880 = getMigrations(encryptedSavedObjectsSetup, {}, isPreconfigured)['8.8.0'];
+
+      const rule = getMockData({ alertTypeId: ruleTypeMappings.eql, params: { version: 2 } });
+      const migratedAlert880 = migration880(rule, migrationContext);
+      expect(migratedAlert880.attributes.revision).toEqual(2);
+    });
   });
 
   describe('Metrics Inventory Threshold rule', () => {
diff --git a/x-pack/plugins/security_solution/server/lib/detection_engine/rule_management/logic/crud/update_rules.ts b/x-pack/plugins/security_solution/server/lib/detection_engine/rule_management/logic/crud/update_rules.ts
index 625204efbe4f6..d949fd63136ea 100644
--- a/x-pack/plugins/security_solution/server/lib/detection_engine/rule_management/logic/crud/update_rules.ts
+++ b/x-pack/plugins/security_solution/server/lib/detection_engine/rule_management/logic/crud/update_rules.ts
@@ -66,12 +66,7 @@ export const updateRules = async ({
       references: ruleUpdate.references ?? [],
       namespace: ruleUpdate.namespace,
       note: ruleUpdate.note,
-      // Always use the version from the request if specified. If it isn't specified, leave immutable rules alone and
-      // increment the version of mutable rules by 1.
-      version:
-        ruleUpdate.version ?? existingRule.params.immutable
-          ? existingRule.params.version
-          : existingRule.params.version + 1,
+      version: ruleUpdate.version ?? existingRule.params.version,
       exceptionsList: ruleUpdate.exceptions_list ?? [],
       ...typeSpecificParams,
     },
diff --git a/x-pack/test/detection_engine_api_integration/security_and_spaces/group10/patch_rules.ts b/x-pack/test/detection_engine_api_integration/security_and_spaces/group10/patch_rules.ts
index e8df71ca61a4c..f38a02bdce930 100644
--- a/x-pack/test/detection_engine_api_integration/security_and_spaces/group10/patch_rules.ts
+++ b/x-pack/test/detection_engine_api_integration/security_and_spaces/group10/patch_rules.ts
@@ -70,10 +70,6 @@ export default ({ getService }: FtrProviderContext) => {
           .expect(200);
 
         const outputRule = getSimpleMlRuleOutput();
-        outputRule.version = 2;
-        // TODO: Followup to #147398
-        // NOTE: Once we remove `version` increment, revision will not be updated as `machine_learning_job_id` value doesn't actually change
-        outputRule.revision = 1;
         const bodyToCompare = removeServerGeneratedProperties(body);
         expect(bodyToCompare).to.eql(outputRule);
       });