diff --git a/app/scripts/controllers/preferences.js b/app/scripts/controllers/preferences.js
index ddb14755a..bd2c91a09 100644
--- a/app/scripts/controllers/preferences.js
+++ b/app/scripts/controllers/preferences.js
@@ -51,6 +51,7 @@ export default class PreferencesController {
       useNonceField: false,
       usePhishDetect: true,
       dismissSeedBackUpReminder: false,
+      useStaticTokenList: false,
 
       // WARNING: Do not use feature flags for security-sensitive things.
       // Feature flag toggling is available in the global namespace
@@ -138,6 +139,16 @@ export default class PreferencesController {
     this.store.updateState({ usePhishDetect: val });
   }
 
+  /**
+   * Setter for the `useStaticTokenList` property
+   *
+   * @param {boolean} val - Whether or not the user prefers to use the static token list or dynamic token list from the API
+   *
+   */
+  setUseStaticTokenList(val) {
+    this.store.updateState({ useStaticTokenList: val });
+  }
+
   /**
    * Setter for the `firstTimeFlowType` property
    *
diff --git a/app/scripts/controllers/preferences.test.js b/app/scripts/controllers/preferences.test.js
index 5e454d55a..f088199ed 100644
--- a/app/scripts/controllers/preferences.test.js
+++ b/app/scripts/controllers/preferences.test.js
@@ -869,4 +869,22 @@ describe('preferences controller', function () {
       );
     });
   });
+  describe('setUseStaticTokenList', function () {
+    it('should default to false', function () {
+      const state = preferencesController.store.getState();
+      assert.equal(state.useStaticTokenList, false);
+    });
+
+    it('should set the useStaticTokenList property in state', function () {
+      assert.equal(
+        preferencesController.store.getState().useStaticTokenList,
+        false,
+      );
+      preferencesController.setUseStaticTokenList(true);
+      assert.equal(
+        preferencesController.store.getState().useStaticTokenList,
+        true,
+      );
+    });
+  });
 });
diff --git a/app/scripts/metamask-controller.js b/app/scripts/metamask-controller.js
index f74041946..b45a1a613 100644
--- a/app/scripts/metamask-controller.js
+++ b/app/scripts/metamask-controller.js
@@ -25,6 +25,7 @@ import {
   PhishingController,
   NotificationController,
   GasFeeController,
+  TokenListController,
 } from '@metamask/controllers';
 import { TRANSACTION_STATUSES } from '../../shared/constants/transaction';
 import { MAINNET_CHAIN_ID } from '../../shared/constants/network';
@@ -32,6 +33,7 @@ import { UI_NOTIFICATIONS } from '../../shared/notifications';
 import { toChecksumHexAddress } from '../../shared/modules/hexstring-utils';
 import { MILLISECOND } from '../../shared/constants/time';
 
+import { hexToDecimal } from '../../ui/helpers/utils/conversions.util';
 import ComposableObservableStore from './lib/ComposableObservableStore';
 import AccountTracker from './lib/account-tracker';
 import createLoggerMiddleware from './lib/createLoggerMiddleware';
@@ -219,6 +221,31 @@ export default class MetamaskController extends EventEmitter {
       state: initState.CurrencyController,
     });
 
+    const tokenListMessenger = controllerMessenger.getRestricted({
+      name: 'TokenListController',
+    });
+    this.tokenListController = new TokenListController({
+      chainId: hexToDecimal(this.networkController.getCurrentChainId()),
+      useStaticTokenList: this.preferencesController.store.getState()
+        .useStaticTokenList,
+      onNetworkStateChange: (cb) =>
+        this.networkController.store.subscribe((networkState) => {
+          const modifiedNetworkState = {
+            ...networkState,
+            provider: {
+              ...networkState.provider,
+              chainId: hexToDecimal(networkState.provider.chainId),
+            },
+          };
+          return cb(modifiedNetworkState);
+        }),
+      onPreferencesStateChange: this.preferencesController.store.subscribe.bind(
+        this.preferencesController.store,
+      ),
+      messenger: tokenListMessenger,
+      state: initState.tokenListController,
+    });
+
     this.phishingController = new PhishingController();
 
     this.notificationController = new NotificationController(
@@ -275,11 +302,13 @@ export default class MetamaskController extends EventEmitter {
         this.incomingTransactionsController.start();
         this.tokenRatesController.start();
         this.currencyRateController.start();
+        this.tokenListController.start();
       } else {
         this.accountTracker.stop();
         this.incomingTransactionsController.stop();
         this.tokenRatesController.stop();
         this.currencyRateController.stop();
+        this.tokenListController.stop();
       }
     });
 
@@ -498,6 +527,7 @@ export default class MetamaskController extends EventEmitter {
       ThreeBoxController: this.threeBoxController.store,
       NotificationController: this.notificationController,
       GasFeeController: this.gasFeeController,
+      TokenListController: this.tokenListController,
     });
 
     this.memStore = new ComposableObservableStore({
@@ -530,6 +560,7 @@ export default class MetamaskController extends EventEmitter {
         ApprovalController: this.approvalController,
         NotificationController: this.notificationController,
         GasFeeController: this.gasFeeController,
+        TokenListController: this.tokenListController,
       },
       controllerMessenger,
     });
@@ -723,6 +754,10 @@ export default class MetamaskController extends EventEmitter {
       setUseBlockie: this.setUseBlockie.bind(this),
       setUseNonceField: this.setUseNonceField.bind(this),
       setUsePhishDetect: this.setUsePhishDetect.bind(this),
+      setUseStaticTokenList: nodeify(
+        this.preferencesController.setUseStaticTokenList,
+        this.preferencesController,
+      ),
       setIpfsGateway: this.setIpfsGateway.bind(this),
       setParticipateInMetaMetrics: this.setParticipateInMetaMetrics.bind(this),
       setFirstTimeFlowType: this.setFirstTimeFlowType.bind(this),
diff --git a/ui/store/actions.js b/ui/store/actions.js
index d9f629952..312324990 100644
--- a/ui/store/actions.js
+++ b/ui/store/actions.js
@@ -2046,6 +2046,19 @@ export function setUsePhishDetect(val) {
   };
 }
 
+export function setUseStaticTokenList(val) {
+  return (dispatch) => {
+    dispatch(showLoadingIndication());
+    log.debug(`background.setUseStaticTokenList`);
+    background.setUseStaticTokenList(val, (err) => {
+      dispatch(hideLoadingIndication());
+      if (err) {
+        dispatch(displayWarning(err.message));
+      }
+    });
+  };
+}
+
 export function setIpfsGateway(val) {
   return (dispatch) => {
     dispatch(showLoadingIndication());