diff --git a/docs/plugins/development/templates.md b/docs/plugins/development/templates.md
index 64616c442..20838149f 100644
--- a/docs/plugins/development/templates.md
+++ b/docs/plugins/development/templates.md
@@ -215,6 +215,8 @@ The following custom template tags are available in NetBox.
 
 ::: utilities.templatetags.builtins.tags.checkmark
 
+::: utilities.templatetags.builtins.tags.customfield_value
+
 ::: utilities.templatetags.builtins.tags.tag
 
 ## Filters
diff --git a/docs/release-notes/version-3.3.md b/docs/release-notes/version-3.3.md
index ea9e67a38..f5cb8eee1 100644
--- a/docs/release-notes/version-3.3.md
+++ b/docs/release-notes/version-3.3.md
@@ -40,6 +40,7 @@
 * [#9075](https://github.com/netbox-community/netbox/issues/9075) - Introduce `AbortRequest` exception for cleanly interrupting object mutations
 * [#9092](https://github.com/netbox-community/netbox/issues/9092) - Add support for `ObjectChildrenView` generic view
 * [#9414](https://github.com/netbox-community/netbox/issues/9414) - Add `clone()` method to NetBoxModel for copying instance attributes
+* [#9647](https://github.com/netbox-community/netbox/issues/9647) - Introduce `customfield_value` template tag
 
 ### Other Changes
 
diff --git a/netbox/templates/inc/panels/custom_fields.html b/netbox/templates/inc/panels/custom_fields.html
index b18d44030..90059447f 100644
--- a/netbox/templates/inc/panels/custom_fields.html
+++ b/netbox/templates/inc/panels/custom_fields.html
@@ -16,33 +16,7 @@
                   <span title="{{ field.description|escape }}">{{ field }}</span>
                 </td>
                 <td>
-                  {% if field.type == 'integer' and value is not None %}
-                    {{ value }}
-                  {% elif field.type == 'longtext' and value %}
-                    {{ value|markdown }}
-                  {% elif field.type == 'boolean' and value == True %}
-                    {% checkmark value true="True" %}
-                  {% elif field.type == 'boolean' and value == False %}
-                    {% checkmark value false="False" %}
-                  {% elif field.type == 'url' and value %}
-                    <a href="{{ value }}">{{ value|truncatechars:70 }}</a>
-                  {% elif field.type == 'json' and value %}
-                    <pre>{{ value|json }}</pre>
-                  {% elif field.type == 'multiselect' and value %}
-                    {{ value|join:", " }}
-                  {% elif field.type == 'object' and value %}
-                    {{ value|linkify }}
-                  {% elif field.type == 'multiobject' and value %}
-                    {% for obj in value %}
-                      {{ obj|linkify }}{% if not forloop.last %}<br />{% endif %}
-                    {% endfor %}
-                  {% elif value %}
-                    {{ value }}
-                  {% elif field.required %}
-                    <span class="text-warning"><i class="mdi mdi-alert"></i> Not defined</span>
-                  {% else %}
-                    {{ ''|placeholder }}
-                  {% endif %}
+                  {% customfield_value field value %}
                 </td>
               </tr>
             {% endfor %}
diff --git a/netbox/utilities/templates/builtins/customfield_value.html b/netbox/utilities/templates/builtins/customfield_value.html
new file mode 100644
index 000000000..8fedb03d5
--- /dev/null
+++ b/netbox/utilities/templates/builtins/customfield_value.html
@@ -0,0 +1,27 @@
+{% if field.type == 'integer' and value is not None %}
+  {{ value }}
+{% elif field.type == 'longtext' and value %}
+  {{ value|markdown }}
+{% elif field.type == 'boolean' and value == True %}
+  {% checkmark value true="True" %}
+{% elif field.type == 'boolean' and value == False %}
+  {% checkmark value false="False" %}
+{% elif field.type == 'url' and value %}
+  <a href="{{ value }}">{{ value|truncatechars:70 }}</a>
+{% elif field.type == 'json' and value %}
+  <pre>{{ value|json }}</pre>
+{% elif field.type == 'multiselect' and value %}
+  {{ value|join:", " }}
+{% elif field.type == 'object' and value %}
+  {{ value|linkify }}
+{% elif field.type == 'multiobject' and value %}
+  {% for object in value %}
+    {{ object|linkify }}{% if not forloop.last %}<br />{% endif %}
+  {% endfor %}
+{% elif value %}
+  {{ value }}
+{% elif field.required %}
+  <span class="text-warning"><i class="mdi mdi-alert"></i> Not defined</span>
+{% else %}
+  {{ ''|placeholder }}
+{% endif %}
diff --git a/netbox/utilities/templatetags/builtins/tags.py b/netbox/utilities/templatetags/builtins/tags.py
index 666b6a31c..ed464b332 100644
--- a/netbox/utilities/templatetags/builtins/tags.py
+++ b/netbox/utilities/templatetags/builtins/tags.py
@@ -18,6 +18,21 @@ def tag(value, viewname=None):
     }
 
 
+@register.inclusion_tag('builtins/customfield_value.html')
+def customfield_value(customfield, value):
+    """
+    Render a custom field value according to the field type.
+
+    Args:
+        customfield: A CustomField instance
+        value: The custom field value applied to an object
+    """
+    return {
+        'customfield': customfield,
+        'value': value,
+    }
+
+
 @register.inclusion_tag('builtins/badge.html')
 def badge(value, bg_color=None, show_empty=False):
     """