diff --git a/go.mod b/go.mod
index fa376b15ea..3a1b2d8a57 100644
--- a/go.mod
+++ b/go.mod
@@ -55,6 +55,7 @@ require (
 
 require (
 	github.com/aquilax/truncate v1.0.0 // indirect
+	github.com/blang/semver/v4 v4.0.0
 	github.com/opencontainers/image-spec v1.0.2 // indirect
 	gopkg.in/inf.v0 v0.9.1
 )
diff --git a/go.sum b/go.sum
index 70c42b1d47..422fddf196 100644
--- a/go.sum
+++ b/go.sum
@@ -276,6 +276,7 @@ github.com/blakesmith/ar v0.0.0-20190502131153-809d4375e1fb/go.mod h1:PkYb9DJNAw
 github.com/blang/semver v3.5.0+incompatible/go.mod h1:kRBLl5iJ+tD4TcOOxsy/0fnwebNt5EWlYSAyrTnjyyk=
 github.com/blang/semver v3.5.1+incompatible h1:cQNTCjp13qL8KC3Nbxr/y2Bqb63oX6wdnnjpJbkM4JQ=
 github.com/blang/semver v3.5.1+incompatible/go.mod h1:kRBLl5iJ+tD4TcOOxsy/0fnwebNt5EWlYSAyrTnjyyk=
+github.com/blang/semver/v4 v4.0.0 h1:1PFHFE6yCCTv8C1TeyNNarDzntLi7wMI5i/pzqYIsAM=
 github.com/blang/semver/v4 v4.0.0/go.mod h1:IbckMUScFkM3pff0VJDNKRiT6TG/YpiHIM2yvyW5YoQ=
 github.com/blendle/zapdriver v1.3.1/go.mod h1:mdXfREi6u5MArG4j9fewC+FGnXaBR+T4Ox4J2u4eHCc=
 github.com/bmizerany/perks v0.0.0-20141205001514-d9a9656a3a4b/go.mod h1:ac9efd0D1fsDb3EJvhqgXRbFx7bs2wqZ10HQPeU8U/Q=
diff --git a/pkg/engine/jmespath/functions.go b/pkg/engine/jmespath/functions.go
index 801280e18d..8488f48eb7 100644
--- a/pkg/engine/jmespath/functions.go
+++ b/pkg/engine/jmespath/functions.go
@@ -12,6 +12,7 @@ import (
 	"time"
 
 	trunc "github.com/aquilax/truncate"
+	"github.com/blang/semver/v4"
 	gojmespath "github.com/jmespath/go-jmespath"
 	"github.com/minio/pkg/wildcard"
 )
@@ -55,6 +56,7 @@ var (
 	timeSince              = "time_since"
 	pathCanonicalize       = "path_canonicalize"
 	truncate               = "truncate"
+	semverCompare          = "semver_compare"
 )
 
 const errorPrefix = "JMESPath function '%s': "
@@ -252,6 +254,14 @@ func getFunctions() []*gojmespath.FunctionEntry {
 			},
 			Handler: jpTruncate,
 		},
+		{
+			Name: semverCompare,
+			Arguments: []ArgSpec{
+				{Types: []JpType{JpString}},
+				{Types: []JpType{JpString}},
+			},
+			Handler: jpSemverCompare,
+		},
 	}
 
 }
@@ -631,6 +641,30 @@ func jpTruncate(arguments []interface{}) (interface{}, error) {
 	return trunc.Truncator(str.String(), int(normalizedLength), trunc.CutStrategy{}), nil
 }
 
+func jpSemverCompare(arguments []interface{}) (interface{}, error) {
+	var err error
+	v, err := validateArg(semverCompare, arguments, 0, reflect.String)
+	if err != nil {
+		return nil, err
+	}
+
+	r, err := validateArg(semverCompare, arguments, 1, reflect.String)
+	if err != nil {
+		return nil, err
+	}
+
+	version, _ := semver.Parse(v.String())
+	expectedRange, err := semver.ParseRange(r.String())
+	if err != nil {
+		return nil, err
+	}
+
+	if expectedRange(version) {
+		return true, nil
+	}
+	return false, nil
+}
+
 // InterfaceToString casts an interface to a string type
 func ifaceToString(iface interface{}) (string, error) {
 	switch i := iface.(type) {
diff --git a/pkg/engine/jmespath/functions_test.go b/pkg/engine/jmespath/functions_test.go
index b431595afe..8dbbbaa9c1 100644
--- a/pkg/engine/jmespath/functions_test.go
+++ b/pkg/engine/jmespath/functions_test.go
@@ -1023,3 +1023,40 @@ func Test_Truncate(t *testing.T) {
 		})
 	}
 }
+
+func Test_SemverCompare(t *testing.T) {
+	testCases := []struct {
+		jmesPath       string
+		expectedResult bool
+	}{
+		{
+			jmesPath:       "semver_compare('4.1.3','>=4.1.x')",
+			expectedResult: true,
+		},
+		{
+			jmesPath:       "semver_compare('4.1.3','!4.x.x')",
+			expectedResult: false,
+		},
+		{
+			jmesPath:       "semver_compare('1.8.6','>1.0.0 <2.0.0')", // >1.0.0 AND <2.0.0
+			expectedResult: true,
+		},
+		{
+			jmesPath:       "semver_compare('2.1.5','<2.0.0 || >=3.0.0')", // <2.0.0 OR >=3.0.0
+			expectedResult: false,
+		},
+	}
+	for _, tc := range testCases {
+		t.Run(tc.jmesPath, func(t *testing.T) {
+			jp, err := New(tc.jmesPath)
+			assert.NilError(t, err)
+
+			result, err := jp.Search("")
+			assert.NilError(t, err)
+
+			res, ok := result.(bool)
+			assert.Assert(t, ok)
+			assert.Equal(t, res, tc.expectedResult)
+		})
+	}
+}
diff --git a/pkg/engine/variables/evaluate_test.go b/pkg/engine/variables/evaluate_test.go
index 4b600cab15..aa16670f6f 100644
--- a/pkg/engine/variables/evaluate_test.go
+++ b/pkg/engine/variables/evaluate_test.go
@@ -51,6 +51,9 @@ func TestEvaluate(t *testing.T) {
 		{kyverno.Condition{Key: []interface{}{map[string]string{"foo": "bar"}}, Operator: kyverno.Equals, Value: []interface{}{map[string]string{"bar": "foo"}}}, false},
 		{kyverno.Condition{Key: "1h", Operator: kyverno.Equals, Value: 3600}, true},
 		{kyverno.Condition{Key: "2h", Operator: kyverno.Equals, Value: 3600}, false},
+		{kyverno.Condition{Key: "1.5.2", Operator: kyverno.Equals, Value: "1.5.2"}, true},
+		{kyverno.Condition{Key: "1.5.2", Operator: kyverno.Equals, Value: "1.5.*"}, true},
+		{kyverno.Condition{Key: "1.5.0", Operator: kyverno.Equals, Value: "1.5.5"}, false},
 
 		// Not Equals
 		{kyverno.Condition{Key: "string", Operator: kyverno.NotEquals, Value: "string"}, false},
@@ -88,6 +91,9 @@ func TestEvaluate(t *testing.T) {
 		{kyverno.Condition{Key: []interface{}{map[string]string{"foo": "bar"}}, Operator: kyverno.NotEquals, Value: []interface{}{map[string]string{"bar": "foo"}}}, true},
 		{kyverno.Condition{Key: "1h", Operator: kyverno.NotEquals, Value: 3600}, false},
 		{kyverno.Condition{Key: "2h", Operator: kyverno.NotEquals, Value: 3600}, true},
+		{kyverno.Condition{Key: "1.5.2", Operator: kyverno.NotEquals, Value: "1.5.5"}, true},
+		{kyverno.Condition{Key: "1.5.2", Operator: kyverno.NotEquals, Value: "1.5.*"}, false},
+		{kyverno.Condition{Key: "1.5.0", Operator: kyverno.NotEquals, Value: "1.5.0"}, false},
 
 		// Greater Than
 		{kyverno.Condition{Key: 10, Operator: kyverno.GreaterThan, Value: 1}, true},
@@ -129,6 +135,8 @@ func TestEvaluate(t *testing.T) {
 		{kyverno.Condition{Key: -5, Operator: kyverno.GreaterThan, Value: 1}, false},
 		{kyverno.Condition{Key: -5, Operator: kyverno.GreaterThan, Value: -10}, true},
 		{kyverno.Condition{Key: 1, Operator: kyverno.GreaterThan, Value: -10}, true},
+		{kyverno.Condition{Key: "1.5.5", Operator: kyverno.GreaterThan, Value: "1.5.0"}, true},
+		{kyverno.Condition{Key: "1.5.0", Operator: kyverno.GreaterThan, Value: "1.5.5"}, false},
 
 		// Less Than
 		{kyverno.Condition{Key: 10, Operator: kyverno.LessThan, Value: 1}, false},
@@ -170,6 +178,8 @@ func TestEvaluate(t *testing.T) {
 		{kyverno.Condition{Key: -5, Operator: kyverno.LessThan, Value: 1}, true},
 		{kyverno.Condition{Key: -5, Operator: kyverno.LessThan, Value: -10}, false},
 		{kyverno.Condition{Key: 1, Operator: kyverno.LessThan, Value: -10}, false},
+		{kyverno.Condition{Key: "1.5.5", Operator: kyverno.LessThan, Value: "1.5.0"}, false},
+		{kyverno.Condition{Key: "1.5.0", Operator: kyverno.LessThan, Value: "1.5.5"}, true},
 
 		// Greater Than or Equal
 		{kyverno.Condition{Key: 10, Operator: kyverno.GreaterThanOrEquals, Value: 1}, true},
@@ -206,6 +216,9 @@ func TestEvaluate(t *testing.T) {
 		{kyverno.Condition{Key: 1, Operator: kyverno.GreaterThanOrEquals, Value: int64(1)}, true},
 		{kyverno.Condition{Key: 10, Operator: kyverno.GreaterThanOrEquals, Value: int64(1)}, true},
 		{kyverno.Condition{Key: 1, Operator: kyverno.GreaterThanOrEquals, Value: int64(10)}, false},
+		{kyverno.Condition{Key: "1.5.5", Operator: kyverno.GreaterThanOrEquals, Value: "1.5.5"}, true},
+		{kyverno.Condition{Key: "1.5.5", Operator: kyverno.GreaterThanOrEquals, Value: "1.5.0"}, true},
+		{kyverno.Condition{Key: "1.5.0", Operator: kyverno.GreaterThanOrEquals, Value: "1.5.5"}, false},
 
 		// Less Than or Equal
 		{kyverno.Condition{Key: 10, Operator: kyverno.LessThanOrEquals, Value: 1}, false},
@@ -242,6 +255,9 @@ func TestEvaluate(t *testing.T) {
 		{kyverno.Condition{Key: 1, Operator: kyverno.LessThanOrEquals, Value: int64(1)}, true},
 		{kyverno.Condition{Key: 10, Operator: kyverno.LessThanOrEquals, Value: int64(1)}, false},
 		{kyverno.Condition{Key: 1, Operator: kyverno.LessThanOrEquals, Value: int64(10)}, true},
+		{kyverno.Condition{Key: "1.5.5", Operator: kyverno.LessThanOrEquals, Value: "1.5.5"}, true},
+		{kyverno.Condition{Key: "1.5.0", Operator: kyverno.LessThanOrEquals, Value: "1.5.5"}, true},
+		{kyverno.Condition{Key: "1.5.5", Operator: kyverno.LessThanOrEquals, Value: "1.5.0"}, false},
 
 		// In
 		{kyverno.Condition{Key: 1, Operator: kyverno.In, Value: []interface{}{1, 2, 3}}, true},
diff --git a/pkg/engine/variables/operator/numeric.go b/pkg/engine/variables/operator/numeric.go
index 36e16fc996..2a505a62fa 100644
--- a/pkg/engine/variables/operator/numeric.go
+++ b/pkg/engine/variables/operator/numeric.go
@@ -4,6 +4,7 @@ import (
 	"fmt"
 	"strconv"
 
+	"github.com/blang/semver/v4"
 	"github.com/go-logr/logr"
 	kyverno "github.com/kyverno/kyverno/api/kyverno/v1"
 	"github.com/kyverno/kyverno/pkg/engine/context"
@@ -37,14 +38,22 @@ func compareByCondition(key float64, value float64, op kyverno.ConditionOperator
 		return key <= value
 	case kyverno.LessThan:
 		return key < value
-	case kyverno.Equals:
-		return key == value
-	case kyverno.Equal:
-		return key == value
-	case kyverno.NotEquals:
-		return key != value
-	case kyverno.NotEqual:
-		return key != value
+	default:
+		(*log).Info(fmt.Sprintf("Expected operator, one of [GreaterThanOrEquals, GreaterThan, LessThanOrEquals, LessThan, Equals, NotEquals], found %s", op))
+		return false
+	}
+}
+
+func compareVersionByCondition(key semver.Version, value semver.Version, op kyverno.ConditionOperator, log *logr.Logger) bool {
+	switch op {
+	case kyverno.GreaterThanOrEquals:
+		return key.GTE(value)
+	case kyverno.GreaterThan:
+		return key.GT(value)
+	case kyverno.LessThanOrEquals:
+		return key.LTE(value)
+	case kyverno.LessThan:
+		return key.LT(value)
 	default:
 		(*log).Info(fmt.Sprintf("Expected operator, one of [GreaterThanOrEquals, GreaterThan, LessThanOrEquals, LessThan, Equals, NotEquals], found %s", op))
 		return false
@@ -141,6 +150,21 @@ func (noh NumericOperatorHandler) validateValueWithResourcePattern(key resource.
 	}
 }
 
+func (noh NumericOperatorHandler) validateValueWithVersionPattern(key semver.Version, value interface{}) bool {
+	switch typedValue := value.(type) {
+	case string:
+		versionValue, err := semver.Parse(typedValue)
+		if err != nil {
+			noh.log.Error(fmt.Errorf("parse error: "), "Failed to parse value type doesn't match key type")
+			return false
+		}
+		return compareVersionByCondition(key, versionValue, noh.condition, &noh.log)
+	default:
+		noh.log.Info("Expected type string", "value", value, "type", fmt.Sprintf("%T", value))
+		return false
+	}
+}
+
 func (noh NumericOperatorHandler) validateValueWithStringPattern(key string, value interface{}) bool {
 	// We need to check duration first as it's the only type that can be compared to a different type
 	durationKey, durationValue, err := parseDuration(key, value)
@@ -162,6 +186,11 @@ func (noh NumericOperatorHandler) validateValueWithStringPattern(key string, val
 	if err == nil {
 		return noh.validateValueWithResourcePattern(resourceKey, value)
 	}
+	// attempt to extract version from string
+	versionKey, err := semver.Parse(key)
+	if err == nil {
+		return noh.validateValueWithVersionPattern(versionKey, value)
+	}
 
 	noh.log.Error(err, "Failed to parse from the string key, value is not float, int nor resource quantity")
 	return false