diff --git a/.coveragerc b/.coveragerc
index 04fa795c966..bd9995d1c10 100644
--- a/.coveragerc
+++ b/.coveragerc
@@ -1179,6 +1179,7 @@ omit =
     homeassistant/components/synology_dsm/sensor.py
     homeassistant/components/synology_dsm/service.py
     homeassistant/components/synology_dsm/switch.py
+    homeassistant/components/synology_dsm/update.py
     homeassistant/components/synology_srm/device_tracker.py
     homeassistant/components/syslog/notify.py
     homeassistant/components/system_bridge/__init__.py
diff --git a/homeassistant/components/synology_dsm/const.py b/homeassistant/components/synology_dsm/const.py
index 37100f1a759..78f1a1b916d 100644
--- a/homeassistant/components/synology_dsm/const.py
+++ b/homeassistant/components/synology_dsm/const.py
@@ -38,6 +38,7 @@ PLATFORMS = [
     Platform.CAMERA,
     Platform.SENSOR,
     Platform.SWITCH,
+    Platform.UPDATE,
 ]
 COORDINATOR_CAMERAS = "coordinator_cameras"
 COORDINATOR_CENTRAL = "coordinator_central"
@@ -112,9 +113,11 @@ class SynologyDSMSwitchEntityDescription(
 # Binary sensors
 UPGRADE_BINARY_SENSORS: tuple[SynologyDSMBinarySensorEntityDescription, ...] = (
     SynologyDSMBinarySensorEntityDescription(
+        # Deprecated, scheduled to be removed in 2022.6 (#68664)
         api_key=SynoCoreUpgrade.API_KEY,
         key="update_available",
         name="Update Available",
+        entity_registry_enabled_default=False,
         device_class=BinarySensorDeviceClass.UPDATE,
         entity_category=EntityCategory.DIAGNOSTIC,
     ),
diff --git a/homeassistant/components/synology_dsm/manifest.json b/homeassistant/components/synology_dsm/manifest.json
index 1c9df126a89..7dcf7cf702a 100644
--- a/homeassistant/components/synology_dsm/manifest.json
+++ b/homeassistant/components/synology_dsm/manifest.json
@@ -2,7 +2,7 @@
   "domain": "synology_dsm",
   "name": "Synology DSM",
   "documentation": "https://www.home-assistant.io/integrations/synology_dsm",
-  "requirements": ["py-synologydsm-api==1.0.7"],
+  "requirements": ["py-synologydsm-api==1.0.8"],
   "codeowners": ["@hacf-fr", "@Quentame", "@mib1185"],
   "config_flow": true,
   "ssdp": [
diff --git a/homeassistant/components/synology_dsm/update.py b/homeassistant/components/synology_dsm/update.py
new file mode 100644
index 00000000000..a4a958b8c1a
--- /dev/null
+++ b/homeassistant/components/synology_dsm/update.py
@@ -0,0 +1,82 @@
+"""Support for Synology DSM update platform."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+from typing import Final
+
+from synology_dsm.api.core.upgrade import SynoCoreUpgrade
+from yarl import URL
+
+from homeassistant.components.update import UpdateEntity, UpdateEntityDescription
+from homeassistant.config_entries import ConfigEntry
+from homeassistant.core import HomeAssistant
+from homeassistant.helpers.entity import EntityCategory
+from homeassistant.helpers.entity_platform import AddEntitiesCallback
+
+from . import SynoApi, SynologyDSMBaseEntity
+from .const import COORDINATOR_CENTRAL, DOMAIN, SYNO_API, SynologyDSMEntityDescription
+
+
+@dataclass
+class SynologyDSMUpdateEntityEntityDescription(
+    UpdateEntityDescription, SynologyDSMEntityDescription
+):
+    """Describes Synology DSM update entity."""
+
+
+UPDATE_ENTITIES: Final = [
+    SynologyDSMUpdateEntityEntityDescription(
+        api_key=SynoCoreUpgrade.API_KEY,
+        key="update",
+        name="DSM Update",
+        entity_category=EntityCategory.DIAGNOSTIC,
+    )
+]
+
+
+async def async_setup_entry(
+    hass: HomeAssistant, entry: ConfigEntry, async_add_entities: AddEntitiesCallback
+) -> None:
+    """Set up Synology DSM update entities."""
+    data = hass.data[DOMAIN][entry.unique_id]
+    api: SynoApi = data[SYNO_API]
+    coordinator = data[COORDINATOR_CENTRAL]
+
+    async_add_entities(
+        SynoDSMUpdateEntity(api, coordinator, description)
+        for description in UPDATE_ENTITIES
+    )
+
+
+class SynoDSMUpdateEntity(SynologyDSMBaseEntity, UpdateEntity):
+    """Mixin for update entity specific attributes."""
+
+    entity_description: SynologyDSMUpdateEntityEntityDescription
+    _attr_title = "Synology DSM"
+
+    @property
+    def current_version(self) -> str | None:
+        """Version currently in use."""
+        return self._api.information.version_string  # type: ignore[no-any-return]
+
+    @property
+    def latest_version(self) -> str | None:
+        """Latest version available for install."""
+        if not self._api.upgrade.update_available:
+            return self.current_version
+        return self._api.upgrade.available_version  # type: ignore[no-any-return]
+
+    @property
+    def release_url(self) -> str | None:
+        """URL to the full release notes of the latest version available."""
+        if (details := self._api.upgrade.available_version_details) is None:
+            return None
+
+        url = URL("http://update.synology.com/autoupdate/whatsnew.php")
+        query = {"model": self._api.information.model}
+        if details.get("nano") > 0:
+            query["update_version"] = f"{details['buildnumber']}-{details['nano']}"
+        else:
+            query["update_version"] = details["buildnumber"]
+
+        return url.update_query(query).human_repr()
diff --git a/requirements_all.txt b/requirements_all.txt
index 670dfc05b1a..d334ddb070f 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -1285,7 +1285,7 @@ py-nightscout==1.2.2
 py-schluter==0.1.7
 
 # homeassistant.components.synology_dsm
-py-synologydsm-api==1.0.7
+py-synologydsm-api==1.0.8
 
 # homeassistant.components.zabbix
 py-zabbix==1.1.7
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index 40960451ac9..bc8d89d806a 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -855,7 +855,7 @@ py-melissa-climate==2.1.4
 py-nightscout==1.2.2
 
 # homeassistant.components.synology_dsm
-py-synologydsm-api==1.0.7
+py-synologydsm-api==1.0.8
 
 # homeassistant.components.seventeentrack
 py17track==2021.12.2