diff --git a/creator-keys/src/lib.rs b/creator-keys/src/lib.rs
index 46cf9baa..dd08aeb5 100644
--- a/creator-keys/src/lib.rs
+++ b/creator-keys/src/lib.rs
@@ -2385,18 +2385,29 @@ impl CreatorKeysContract {
         admin.require_auth();
         validate_non_zero_address(&env, &recipient)?;
 
-        if env
+        let old_recipient: Option<Address> = env
             .storage()
             .persistent()
-            .get::<DataKey, Address>(&constants::storage::PROTOCOL_FEE_RECIPIENT)
-            .as_ref()
-            == Some(&recipient)
-        {
+            .get(&constants::storage::PROTOCOL_FEE_RECIPIENT);
+
+        if old_recipient.as_ref() == Some(&recipient) {
             return Ok(());
         }
+
         env.storage()
             .persistent()
             .set(&constants::storage::PROTOCOL_FEE_RECIPIENT, &recipient);
+
+        if let Some(old) = old_recipient {
+            env.events().publish(
+                (events::PROTOCOL_FEE_RECIPIENT_UPDATED_EVENT_NAME, admin),
+                events::ProtocolFeeRecipientUpdatedEvent {
+                    old_recipient: old,
+                    new_recipient: recipient,
+                },
+            );
+        }
+
         Ok(())
     }
 
diff --git a/creator-keys/tests/set_protocol_fee_recipient.rs b/creator-keys/tests/set_protocol_fee_recipient.rs
index e0be18e5..7dfcd489 100644
--- a/creator-keys/tests/set_protocol_fee_recipient.rs
+++ b/creator-keys/tests/set_protocol_fee_recipient.rs
@@ -73,3 +73,45 @@ fn test_set_protocol_fee_recipient_idempotent() {
         "recipient unchanged after idempotent set"
     );
 }
+
+#[test]
+fn test_set_protocol_fee_recipient_emits_event_on_update() {
+    use creator_keys::events;
+    use soroban_sdk::{testutils::Events, IntoVal};
+
+    let env = test_env_with_auths();
+    let (client, _) = register_creator_keys(&env);
+
+    let admin = Address::generate(&env);
+    let old_recipient = Address::generate(&env);
+    let new_recipient = Address::generate(&env);
+
+    client.set_protocol_fee_recipient(&admin, &old_recipient);
+    client.set_protocol_fee_recipient(&admin, &new_recipient);
+
+    let all_events = env.events().all();
+    let update_events: Vec<_> = all_events
+        .iter()
+        .filter(|(_, topics, _)| {
+            topics
+                .get(events::TOPIC_EVENT_NAME_INDEX)
+                .map(|v| {
+                    let sym: soroban_sdk::Symbol = v.into_val(&env);
+                    sym == events::PROTOCOL_FEE_RECIPIENT_UPDATED_EVENT_NAME
+                })
+                .unwrap_or(false)
+        })
+        .collect();
+
+    assert_eq!(
+        update_events.len(),
+        1,
+        "updating fee recipient via set_protocol_fee_recipient must emit exactly one event"
+    );
+
+    let (_, _, data) = update_events.last().unwrap();
+    let payload: events::ProtocolFeeRecipientUpdatedEvent = data.into_val(&env);
+
+    assert_eq!(payload.old_recipient, old_recipient);
+    assert_eq!(payload.new_recipient, new_recipient);
+}