diff --git a/src/aimcore/cli/cli.py b/src/aimcore/cli/cli.py
index 7325dd48a2..d8800fdc8d 100644
--- a/src/aimcore/cli/cli.py
+++ b/src/aimcore/cli/cli.py
@@ -7,6 +7,7 @@
 from aimcore.cli.server import commands as server_commands
 from aimcore.cli.telemetry import commands as telemetry_commands
 from aimcore.cli.package import commands as package_commands
+from aimcore.cli.migrate import commands as migrate_commands
 
 core._verify_python3_env = lambda: None
 
@@ -22,3 +23,4 @@ def cli_entry_point():
 cli_entry_point.add_command(server_commands.server)
 cli_entry_point.add_command(telemetry_commands.telemetry)
 cli_entry_point.add_command(package_commands.package)
+cli_entry_point.add_command(migrate_commands.migrate)
diff --git a/src/aimcore/cli/migrate/__init__.py b/src/aimcore/cli/migrate/__init__.py
new file mode 100644
index 0000000000..e69de29bb2
diff --git a/src/aimcore/cli/migrate/commands.py b/src/aimcore/cli/migrate/commands.py
new file mode 100644
index 0000000000..a76c245ce0
--- /dev/null
+++ b/src/aimcore/cli/migrate/commands.py
@@ -0,0 +1,46 @@
+import click
+import pathlib
+import shutil
+
+from aim import Repo
+from aim._sdk.configs import get_aim_repo_name, get_data_version
+from aimcore.cli.migrate import utils
+
+
+@click.command('migrate')
+@click.option('--repo', required=True, type=click.Path(exists=True,
+                                                       file_okay=False,
+                                                       dir_okay=True,
+                                                       writable=True))
+@click.option('--run', required=False, type=str, default=None)
+@click.option('-y', '--yes', is_flag=True, help='Automatically confirm prompt')
+def migrate(repo, run, yes):
+    data_version = Repo.get_version(repo)
+    if data_version is None:
+        click.secho(f'Cannot run migration for directory \'{repo}\'. Data version is unknown.')
+        exit(1)
+    elif data_version == get_data_version():
+        click.secho(f'Aim Repo \'{repo}\' is already up-to-date. Skipping.')
+        exit(0)
+    repo_path = pathlib.Path(repo)
+    aim_dir_path = repo_path / get_aim_repo_name()
+    aim_v3_dir_path = repo_path / f'{get_aim_repo_name()}_v3'
+    if data_version[0] == 1:
+        if yes or click.confirm(f'This command will convert Aim Runs at \'{repo}\' to a new format. '
+                                f'This might take a while. Would you like to continue?'):
+            shutil.move(aim_dir_path, aim_v3_dir_path)
+            try:
+                Repo.init(repo)
+                repo_inst = Repo.from_path(repo, read_only=False)
+                if run is not None:
+                    utils.migrate_v3_run_data(repo_inst, aim_v3_dir_path, run_hash=run)
+                else:
+                    utils.migrate_v3_data(repo_inst, aim_v3_dir_path)
+            except Exception as e:
+                shutil.rmtree(aim_dir_path)
+                click.secho(f'Failed to migrate Aim repo \'{repo}\'. Reason: {e}.')
+                click.secho(f'Old repository backup is available at \'{aim_v3_dir_path}\'.')
+                raise
+            else:
+                click.secho(f'Successfully migrated Aim repo \'{repo}\'.')
+                click.secho(f'Old repository backup is available at \'{aim_v3_dir_path}\'.')
diff --git a/src/aimcore/cli/migrate/utils.py b/src/aimcore/cli/migrate/utils.py
new file mode 100644
index 0000000000..3ec9c05853
--- /dev/null
+++ b/src/aimcore/cli/migrate/utils.py
@@ -0,0 +1,188 @@
+import json
+import pathlib
+
+import click
+import tqdm
+import logging
+
+from typing import Dict
+
+from aim import Repo
+from aim._core.storage.rockscontainer import RocksContainer
+from aim._core.storage.treeview import TreeView
+from aimstack.asp import Run, SystemMetric
+
+logger = logging.getLogger(__name__)
+
+RUN_DATA_QUERY_TEMPLATE = """
+SELECT 
+    run.hash as hash,
+    run.name as name,
+    run.description as description,
+    run.is_archived as archived,
+    experiment.name as experiment,
+    json_group_array(tag.name) as tags,
+    {select_notes} as notes
+FROM
+    run 
+    LEFT OUTER JOIN experiment ON run.experiment_id = experiment.id
+    {notes_join_clause}
+    LEFT OUTER JOIN run_tag ON run.id = run_tag.run_id LEFT JOIN tag ON run_tag.tag_id = tag.id
+GROUP BY
+    run.hash;
+"""
+
+
+SEQUENCE_TYPE_MAP = {
+    'float': Run.get_metric,
+    'int': Run.get_metric,
+    'number': Run.get_metric,
+    'aim.image': Run.get_image_sequence,
+    'list(aim.image)': Run.get_image_sequence,
+    'aim.audio': Run.get_audio_sequence,
+    'list(aim.audio)': Run.get_audio_sequence,
+    'aim.text': Run.get_text_sequence,
+    'list(aim.text)': Run.get_text_sequence,
+    'aim.distribution': Run.get_distribution_sequence,
+    'aim.figure': Run.get_figure_sequence,
+}
+
+
+def migrate_v1_sequence_data(run: Run, trace_data_tree: TreeView, length: int, item_type: str, name: str, context: Dict):
+    if name.startswith('__system'):
+        seq = run.sequences.typed_sequence(SystemMetric, name, context)
+    elif item_type == 'aim.log_line':
+        seq = run.logs
+    else:
+        get_seq_method = SEQUENCE_TYPE_MAP.get(item_type)
+        if get_seq_method is None:
+            logger.warning(f'Unknown type of sequence element \'{item_type}\'. Skipping.')
+            return
+        seq = get_seq_method(run, name, context)
+    trace_iter = zip(trace_data_tree.subtree('val').items(),
+                     trace_data_tree.subtree('time').items(),
+                     trace_data_tree.subtree('epoch').items())
+    trace_iter = tqdm.tqdm(trace_iter, leave=False, total=length)
+    context_str = str(context)
+    if len(context_str) > 20:
+        context_str = context_str[:16] + '...}'
+    for (step, value), (_, time), (_, epoch) in trace_iter:
+        trace_iter.set_description(f'Processing sequence context={context_str}, name=\'{name}\'')
+        seq.track(value, step=step, epoch=epoch, time=time)
+
+
+def migrate_v2_sequence_data(run: Run, trace_data_tree: TreeView, length: int, name: str, context: Dict):
+    if name.startswith('__system'):
+        seq = run.sequences.typed_sequence(SystemMetric, name, context)
+    else:
+        seq = run.get_metric(name, context)  # only Metric sequences had V2 data format
+    trace_iter = zip(trace_data_tree.subtree('step').items(),
+                     trace_data_tree.subtree('val').items(),
+                     trace_data_tree.subtree('time').items(),
+                     trace_data_tree.subtree('epoch').items())
+    trace_iter = tqdm.tqdm(trace_iter, leave=False, total=length)
+    context_str = str(context)
+    if len(context_str) > 20:
+        context_str = context_str[:16] + '...}'
+    for (_, step), (_, value), (_, time), (_, epoch) in trace_iter:
+        trace_iter.set_description(f'Processing sequence context={context_str}, name=\'{name}\'')
+        seq.track(value, step=step, epoch=epoch, time=time)
+
+
+def migrate_single_run(repo: Repo, v3_repo_path: pathlib.Path, run_hash: str, run_data: Dict):
+    meta_container_path = v3_repo_path / 'meta' / 'chunks' / run_hash
+    meta_container = RocksContainer(str(meta_container_path), read_only=True)
+    meta_tree: TreeView = meta_container.tree()
+    run_info_tree = meta_tree.subtree('meta').subtree('chunks').subtree(run_hash)
+    context_info = run_info_tree.collect('contexts')
+    trace_info = run_info_tree.collect('traces')
+
+    new_run = Run(repo=repo, mode='WRITE')
+    new_run[...] = run_info_tree.get('attrs', {})
+    new_run['hash_'] = run_hash
+
+    if run_data is not None:
+        new_run.name = run_data['name']
+        new_run.archived = run_data['archived']
+        new_run.description = run_data['description']
+        new_run['experiment_name'] = run_data['experiment']
+        if len(run_data['tags']) > 0 and run_data['tags'][0] is not None:
+            new_run['tags'] = run_data['tags']
+        if len(run_data['notes']) > 0 and run_data['notes'][0] is not None:
+            new_run['notes'] = run_data['notes']
+
+    trace_container_path = v3_repo_path / 'seqs' / 'chunks' / run_hash
+    trace_container = RocksContainer(str(trace_container_path), read_only=True)
+    trace_tree: TreeView = trace_container.tree()
+    traces_data_tree = trace_tree.subtree('seqs').subtree('chunks').subtree(run_hash)
+    v2_traces_data_tree = trace_tree.subtree('seqs').subtree('v2').subtree('chunks').subtree(run_hash)
+
+    for context_idx, context_data in trace_info.items():
+        for name, info in context_data.items():
+            if info.get('version', 1) == 1:
+                trace_data_tree = traces_data_tree.subtree(context_idx).subtree(name)
+                item_type = info.get('dtype', 'float')
+                migrate_v1_sequence_data(
+                    new_run, trace_data_tree,
+                    length=info.get('last_step'), item_type=item_type, name=name, context=context_info[context_idx]
+                )
+            else:  # v2 sequence
+                trace_data_tree = v2_traces_data_tree.subtree(context_idx).subtree(name)
+                migrate_v2_sequence_data(
+                    new_run, trace_data_tree,
+                    length=info.get('last_step'), name=name, context=context_info[context_idx]
+                )
+
+
+def get_relational_data(sql_db_path: pathlib.Path) -> Dict:
+    def table_exists(tbl):
+        res = cursor.execute(f'SELECT count(name) FROM sqlite_master WHERE type=\'table\' AND name=\'{tbl}\';')
+        return res.fetchone()[0] == 1
+
+    try:
+        import sqlite3
+    except ModuleNotFoundError:
+        if not click.confirm(f'Missing package \'sqlite3\'. Cannot migrate Run experiment, tags and notes info. '
+                             f'Would you like to proceed?'):
+            exit(0)
+        return {}
+    else:
+        conn = sqlite3.connect(str(sql_db_path))
+        cursor = conn.cursor()
+        runs_data = {}
+
+        notes_table_exists = table_exists('note')
+        select_notes = 'json_group_array(note.content)' if notes_table_exists else '\'[]\''
+        notes_join_clause = 'LEFT OUTER JOIN note ON run.id = note.run_id' if notes_table_exists else ''
+        query = RUN_DATA_QUERY_TEMPLATE.format(select_notes=select_notes, notes_join_clause=notes_join_clause)
+        for (run_hash, name, desc, archived, exp, tags, notes) in cursor.execute(query):
+            runs_data[run_hash] = {
+                'name': name,
+                'description': desc,
+                'archived': archived != 0,
+                'experiment': exp,
+                'tags': json.loads(tags),
+                'notes': json.loads(notes)
+            }
+        return runs_data
+
+
+def migrate_v3_data(repo: Repo, v3_repo_path: pathlib.Path):
+    chunks_dir = v3_repo_path / 'meta' / 'chunks'
+    sql_db_path = v3_repo_path / 'run_metadata.sqlite'
+    run_hash_list = []
+    if chunks_dir.exists():
+        run_hash_list = list(map(lambda x: x.relative_to(chunks_dir).name, chunks_dir.glob('*')))
+
+    runs_data = get_relational_data(sql_db_path)
+    runs_iter = tqdm.tqdm(run_hash_list, leave=False)
+    for run_hash in runs_iter:
+        runs_iter.set_description(f'Processing Run "{run_hash}"')
+        migrate_single_run(repo, v3_repo_path, run_hash=run_hash, run_data=runs_data.get(run_hash))
+
+
+def migrate_v3_run_data(repo: Repo, v3_repo_path: pathlib.Path, run_hash: str):
+    sql_db_path = v3_repo_path / 'run_metadata.sqlite'
+
+    runs_data = get_relational_data(sql_db_path)
+    migrate_single_run(repo, v3_repo_path, run_hash=run_hash, run_data=runs_data.get(run_hash))
diff --git a/src/aimcore/cli/package/commands.py b/src/aimcore/cli/package/commands.py
index 7b17d46aab..c4fe73cd65 100644
--- a/src/aimcore/cli/package/commands.py
+++ b/src/aimcore/cli/package/commands.py
@@ -5,6 +5,7 @@
 from .utils import init_template, pyproject_toml_template, get_pkg_distribution_sources
 from .watcher import PackageSourceWatcher
 
+
 @click.group('package')
 def package():
     pass