diff --git a/build_variables.bzl b/build_variables.bzl
index ba856c5a97b..25f167191ab 100644
--- a/build_variables.bzl
+++ b/build_variables.bzl
@@ -875,6 +875,7 @@ libtorch_python_xpu_sources = [
     "torch/csrc/xpu/Event.cpp",
     "torch/csrc/xpu/Module.cpp",
     "torch/csrc/xpu/Stream.cpp",
+    "torch/csrc/xpu/XPUPluggableAllocator.cpp",
     "torch/csrc/inductor/aoti_runner/model_container_runner_xpu.cpp",
     "torch/csrc/inductor/aoti_torch/shim_xpu.cpp",
 ]
diff --git a/c10/xpu/XPUCachingAllocator.cpp b/c10/xpu/XPUCachingAllocator.cpp
index dfcccc94c9e..92dffc91539 100644
--- a/c10/xpu/XPUCachingAllocator.cpp
+++ b/c10/xpu/XPUCachingAllocator.cpp
@@ -1353,7 +1353,7 @@ class NativeCachingAllocator : public XPUAllocator {
  public:
   std::vector<std::unique_ptr<DeviceCachingAllocator>> device_allocators;
 
-  void init(DeviceIndex device_count) {
+  void init(DeviceIndex device_count) override {
     const auto size = static_cast<DeviceIndex>(device_allocators.size());
     if (size < device_count) {
       device_allocators.resize(device_count);
@@ -1538,88 +1538,62 @@ class NativeCachingAllocator : public XPUAllocator {
   }
 };
 
-static NativeCachingAllocator allocator;
+static NativeCachingAllocator native_allocator;
 
 void local_raw_delete(void* ptr) {
-  allocator.free(ptr);
+  native_allocator.free(ptr);
 }
 
-Allocator* get() {
-  return &allocator;
-}
+std::atomic<XPUAllocator*> allocator;
 
-void init(DeviceIndex device_count) {
-  return allocator.init(device_count);
-}
+struct NativeAllocatorStaticInitializer {
+  NativeAllocatorStaticInitializer() {
+    allocator.store(&native_allocator);
+    c10::SetAllocator(c10::kXPU, &native_allocator, 0);
+  }
+};
 
-void emptyCache(MempoolId_t mempool_id) {
-  return allocator.emptyCache(mempool_id);
-}
-
-void resetPeakStats(DeviceIndex device) {
-  return allocator.resetPeakStats(device);
-}
-
-void resetAccumulatedStats(DeviceIndex device) {
-  return allocator.resetAccumulatedStats(device);
-}
-
-DeviceStats getDeviceStats(DeviceIndex device) {
-  return allocator.getDeviceStats(device);
-}
-
-void* raw_alloc(size_t size) {
-  return allocator.raw_alloc(size);
-}
-
-void raw_delete(void* ptr) {
-  return allocator.raw_delete(ptr);
-}
-
-void recordStream(const DataPtr& dataPtr, XPUStream stream) {
-  return allocator.recordStream(dataPtr, stream);
-}
+static NativeAllocatorStaticInitializer native_allocator_static_initializer;
 
 void enablePeerAccess(c10::DeviceIndex dev, c10::DeviceIndex dev_to_access) {
-  return allocator.enablePeerAccess(dev, dev_to_access);
+  return native_allocator.enablePeerAccess(dev, dev_to_access);
 }
 
 double getMemoryFraction(DeviceIndex device) {
-  return allocator.getMemoryFraction(device);
+  return native_allocator.getMemoryFraction(device);
 }
 
 void setMemoryFraction(double fraction, DeviceIndex device) {
-  return allocator.setMemoryFraction(fraction, device);
+  return native_allocator.setMemoryFraction(fraction, device);
 }
 
 void createOrIncrefPool(
     c10::DeviceIndex device,
     MempoolId_t mempool_id,
     XPUAllocator* allocator_ptr) {
-  return allocator.createOrIncrefPool(device, mempool_id, allocator_ptr);
+  return native_allocator.createOrIncrefPool(device, mempool_id, allocator_ptr);
 }
 
 void beginAllocateToPool(
     c10::DeviceIndex device,
     MempoolId_t mempool_id,
     std::function<bool(sycl::queue*)> filter) {
-  return allocator.beginAllocateToPool(device, mempool_id, std::move(filter));
+  return native_allocator.beginAllocateToPool(
+      device, mempool_id, std::move(filter));
 }
 
 void endAllocateToPool(c10::DeviceIndex device, MempoolId_t mempool_id) {
-  return allocator.endAllocateToPool(device, mempool_id);
+  return native_allocator.endAllocateToPool(device, mempool_id);
 }
 
 void releasePool(c10::DeviceIndex device, MempoolId_t mempool_id) {
-  return allocator.releasePool(device, mempool_id);
+  return native_allocator.releasePool(device, mempool_id);
 }
 
 int getPoolUseCount(c10::DeviceIndex device, MempoolId_t mempool_id) {
-  return allocator.getPoolUseCount(device, mempool_id);
+  return native_allocator.getPoolUseCount(device, mempool_id);
 }
 
-REGISTER_ALLOCATOR(kXPU, &allocator)
-
 } // namespace c10::xpu::XPUCachingAllocator
 
 namespace c10::xpu {
diff --git a/c10/xpu/XPUCachingAllocator.h b/c10/xpu/XPUCachingAllocator.h
index 0054e359e77..54c7387cc38 100644
--- a/c10/xpu/XPUCachingAllocator.h
+++ b/c10/xpu/XPUCachingAllocator.h
@@ -8,28 +8,49 @@ namespace c10::xpu::XPUCachingAllocator {
 
 class XPUAllocator : public DeviceAllocator {
  public:
+  virtual void init(c10::DeviceIndex device_count) = 0;
   virtual void* raw_alloc(size_t nbytes) = 0;
   virtual void raw_delete(void* ptr) = 0;
 };
 
-C10_XPU_API Allocator* get();
+C10_XPU_API extern std::atomic<XPUAllocator*> allocator;
 
-C10_XPU_API void init(DeviceIndex device_count);
+inline XPUAllocator* get() {
+  return allocator.load();
+}
 
-C10_XPU_API void emptyCache(MempoolId_t mempool_id = {0, 0});
+inline void init(c10::DeviceIndex device_count) {
+  get()->init(device_count);
+}
 
-C10_XPU_API void resetPeakStats(DeviceIndex device);
+inline void emptyCache(MempoolId_t mempool_id = {0, 0}) {
+  get()->emptyCache(mempool_id);
+}
 
-C10_XPU_API void resetAccumulatedStats(DeviceIndex device);
+inline void resetPeakStats(DeviceIndex device) {
+  get()->resetPeakStats(device);
+}
 
-C10_XPU_API c10::CachingDeviceAllocator::DeviceStats getDeviceStats(
-    DeviceIndex device);
+inline void resetAccumulatedStats(DeviceIndex device) {
+  get()->resetAccumulatedStats(device);
+}
 
-C10_XPU_API void* raw_alloc(size_t size);
+inline c10::CachingDeviceAllocator::DeviceStats getDeviceStats(
+    DeviceIndex device) {
+  return get()->getDeviceStats(device);
+}
 
-C10_XPU_API void raw_delete(void* ptr);
+inline void* raw_alloc(size_t size) {
+  return get()->raw_alloc(size);
+}
 
-C10_XPU_API void recordStream(const DataPtr& dataPtr, XPUStream stream);
+inline void raw_delete(void* ptr) {
+  get()->raw_delete(ptr);
+}
+
+inline void recordStream(const DataPtr& dataPtr, XPUStream stream) {
+  get()->recordStream(dataPtr, stream);
+}
 
 C10_XPU_API void enablePeerAccess(
     c10::DeviceIndex dev,
diff --git a/torch/csrc/xpu/XPUPluggableAllocator.cpp b/torch/csrc/xpu/XPUPluggableAllocator.cpp
new file mode 100644
index 00000000000..6534ac94f15
--- /dev/null
+++ b/torch/csrc/xpu/XPUPluggableAllocator.cpp
@@ -0,0 +1,147 @@
+#include <torch/csrc/xpu/XPUPluggableAllocator.h>
+
+namespace torch::xpu::XPUPluggableAllocator {
+
+void custom_raw_deleter(void* ptr);
+
+static c10::DeviceIndex device_count_ = 0;
+
+void* XPUPluggableAllocator::malloc(
+    size_t size,
+    c10::DeviceIndex device,
+    sycl::queue* queue) {
+  void* r = alloc_fn_(size, device, queue);
+  {
+    const std::lock_guard<std::mutex> lock(allocator_mutex_);
+    allocation_metadata_.emplace(r, _AllocationMetadata(size, device, queue));
+  }
+  return r;
+}
+
+c10::DataPtr XPUPluggableAllocator::allocate(size_t size) {
+  auto device = c10::xpu::current_device();
+  sycl::queue& queue = c10::xpu::getCurrentXPUStream(device);
+  void* r = this->malloc(size, device, &queue);
+  return {r, r, raw_deleter(), c10::Device(c10::kXPU, device)};
+}
+
+void* XPUPluggableAllocator::raw_alloc(size_t nbytes) {
+  auto device = c10::xpu::current_device();
+  sycl::queue& queue = c10::xpu::getCurrentXPUStream(device);
+  return malloc(nbytes, device, &queue);
+}
+
+c10::DeleterFnPtr XPUPluggableAllocator::raw_deleter() const {
+  return &custom_raw_deleter;
+}
+
+void XPUPluggableAllocator::raw_delete(void* ptr) {
+  sycl::queue* queue = nullptr;
+  c10::DeviceIndex device_idx = -1;
+  size_t size = 0;
+  {
+    const std::lock_guard<std::mutex> lock(allocator_mutex_);
+    TORCH_CHECK(
+        allocation_metadata_.count(ptr),
+        "Trying to free a pointer not allocated here");
+    _AllocationMetadata& metadata = allocation_metadata_[ptr];
+    size = metadata.size;
+    device_idx = metadata.device_idx;
+    queue = metadata.queue;
+    allocation_metadata_.erase(ptr);
+  }
+  free_fn_(ptr, size, device_idx, queue);
+}
+
+void XPUPluggableAllocator::init(c10::DeviceIndex device_count) {
+  if (init_fn_) {
+    init_fn_(device_count);
+  }
+  device_count_ = device_count;
+  initialized_ = true;
+}
+
+bool XPUPluggableAllocator::initialized() {
+  return initialized_;
+}
+
+void XPUPluggableAllocator::copy_data(
+    void* dest,
+    const void* src,
+    std::size_t count) const {
+  c10::xpu::getCurrentXPUStream().queue().memcpy(dest, src, count);
+}
+
+void XPUPluggableAllocator::recordStream(
+    const c10::DataPtr& ptr,
+    c10::Stream stream) {
+  if (record_stream_fn_) {
+    auto xpu_stream = c10::xpu::XPUStream(stream);
+    record_stream_fn_(ptr.get(), &xpu_stream.queue());
+  }
+}
+
+void XPUPluggableAllocator::emptyCache(
+    /*unused*/ c10::MempoolId_t mempool_id) {
+  TORCH_CHECK(
+      false,
+      "XPUPluggableAllocator does not yet support emptyCache. "
+      "If you need it, please file an issue describing your use case.");
+}
+
+c10::CachingDeviceAllocator::DeviceStats XPUPluggableAllocator::getDeviceStats(
+    c10::DeviceIndex device) {
+  TORCH_CHECK(
+      false,
+      "XPUPluggableAllocator does not yet support getDeviceStats. "
+      "If you need it, please file an issue describing your use case.");
+}
+
+void XPUPluggableAllocator::resetAccumulatedStats(c10::DeviceIndex device) {
+  TORCH_CHECK(
+      false,
+      "XPUPluggableAllocator does not yet support resetAccumulatedStats. "
+      "If you need it, please file an issue describing your use case.");
+}
+
+void XPUPluggableAllocator::resetPeakStats(c10::DeviceIndex device) {
+  TORCH_CHECK(
+      false,
+      "XPUPluggableAllocator does not yet support resetPeakStats. "
+      "If you need it, please file an issue describing your use case.");
+}
+
+std::shared_ptr<c10::xpu::XPUCachingAllocator::XPUAllocator>
+    current_custom_allocator;
+
+std::shared_ptr<c10::xpu::XPUCachingAllocator::XPUAllocator>
+getCurrentAllocator() {
+  return current_custom_allocator;
+}
+
+std::shared_ptr<c10::xpu::XPUCachingAllocator::XPUAllocator>
+createCustomAllocator(
+    std::function<void*(size_t, int, sycl::queue*)> alloc_fn,
+    std::function<void(void*, size_t, int, sycl::queue*)> free_fn) {
+  auto allocator = std::make_shared<XPUPluggableAllocator>(
+      std::move(alloc_fn), std::move(free_fn));
+  allocator->init(device_count_);
+  return allocator;
+}
+
+void changeCurrentAllocator(
+    const std::shared_ptr<c10::xpu::XPUCachingAllocator::XPUAllocator>&
+        allocator) {
+  TORCH_CHECK(
+      !c10::xpu::XPUCachingAllocator::get()->initialized(),
+      "Can't swap an already initialized allocator");
+  c10::xpu::XPUCachingAllocator::allocator.store(allocator.get());
+  c10::SetAllocator(c10::kXPU, allocator.get());
+  current_custom_allocator = allocator;
+}
+
+void custom_raw_deleter(void* ptr) {
+  current_custom_allocator->raw_delete(ptr);
+}
+
+} // namespace torch::xpu::XPUPluggableAllocator
diff --git a/torch/csrc/xpu/XPUPluggableAllocator.h b/torch/csrc/xpu/XPUPluggableAllocator.h
new file mode 100644
index 00000000000..5133955c588
--- /dev/null
+++ b/torch/csrc/xpu/XPUPluggableAllocator.h
@@ -0,0 +1,80 @@
+#pragma once
+
+#include <c10/xpu/XPUCachingAllocator.h>
+#include <torch/csrc/Export.h>
+
+namespace torch::xpu::XPUPluggableAllocator {
+
+struct _AllocationMetadata {
+  _AllocationMetadata() {}
+  _AllocationMetadata(
+      size_t size,
+      c10::DeviceIndex device_idx,
+      sycl::queue* queue)
+      : size(size), device_idx(device_idx), queue(queue) {}
+  size_t size{0};
+  c10::DeviceIndex device_idx{-1};
+  sycl::queue* queue{};
+};
+
+struct TORCH_PYTHON_API XPUPluggableAllocator
+    : public c10::xpu::XPUCachingAllocator::XPUAllocator {
+  XPUPluggableAllocator(
+      std::function<void*(size_t, int, sycl::queue*)> alloc_fn,
+      std::function<void(void*, size_t, int, sycl::queue*)> free_fn)
+      : alloc_fn_(std::move(alloc_fn)), free_fn_(std::move(free_fn)) {}
+
+  C10_DISABLE_COPY_AND_ASSIGN(XPUPluggableAllocator);
+
+  ~XPUPluggableAllocator() override = default;
+
+  void* malloc(size_t size, c10::DeviceIndex device, sycl::queue* stream);
+
+  c10::DataPtr allocate(size_t size) override;
+  c10::DeleterFnPtr raw_deleter() const override;
+
+  void* raw_alloc(size_t nbytes) override;
+  void raw_delete(void* ptr) override;
+  void init(c10::DeviceIndex device_count) override;
+  bool initialized() override;
+  void copy_data(void* dest, const void* src, std::size_t count) const final;
+
+  void recordStream(const c10::DataPtr&, c10::Stream stream) override;
+  void emptyCache(c10::MempoolId_t mempool_id = {0, 0}) override;
+  c10::CachingDeviceAllocator::DeviceStats getDeviceStats(
+      c10::DeviceIndex device) override;
+  void resetAccumulatedStats(c10::DeviceIndex device) override;
+  void resetPeakStats(c10::DeviceIndex device) override;
+
+  void set_init_fn(std::function<void(int)> init_fn) {
+    init_fn_ = std::move(init_fn);
+  }
+  void set_record_stream_fn(
+      std::function<void(void* ptr, sycl::queue* queue)> record_stream_fn) {
+    record_stream_fn_ = std::move(record_stream_fn);
+  }
+
+ protected:
+  std::function<void*(size_t, int, sycl::queue*)> alloc_fn_;
+  std::function<void(void*, size_t, int, sycl::queue*)> free_fn_;
+  std::function<void(int)> init_fn_;
+  std::function<void(void* ptr, sycl::queue*)> record_stream_fn_;
+  std::mutex allocator_mutex_;
+  // We do the bookkeeping here in order to simplify custom allocators
+  std::unordered_map<void*, _AllocationMetadata> allocation_metadata_;
+  bool initialized_ = false;
+};
+
+TORCH_XPU_API std::shared_ptr<c10::xpu::XPUCachingAllocator::XPUAllocator>
+getCurrentAllocator();
+
+TORCH_XPU_API std::shared_ptr<c10::xpu::XPUCachingAllocator::XPUAllocator>
+createCustomAllocator(
+    std::function<void*(size_t, int, sycl::queue*)> alloc_fn,
+    std::function<void(void*, size_t, int, sycl::queue*)> free_fn);
+
+TORCH_XPU_API void changeCurrentAllocator(
+    const std::shared_ptr<c10::xpu::XPUCachingAllocator::XPUAllocator>&
+        allocator);
+
+} // namespace torch::xpu::XPUPluggableAllocator