diff --git a/packages/grafana-runtime/src/internal/index.ts b/packages/grafana-runtime/src/internal/index.ts
index 4b085040190..e7119717bf3 100644
--- a/packages/grafana-runtime/src/internal/index.ts
+++ b/packages/grafana-runtime/src/internal/index.ts
@@ -16,3 +16,12 @@ export { type PageInfoItem, setPluginPage } from '../components/PluginPage';
 
 export { ExpressionDatasourceRef } from '../utils/DataSourceWithBackend';
 export { standardStreamOptionsProvider, toStreamingDataResponse } from '../utils/DataSourceWithBackend';
+
+export {
+  setGetObservablePluginComponents,
+  type GetObservablePluginComponents,
+} from '../services/pluginExtensions/getObservablePluginComponents';
+export {
+  setGetObservablePluginLinks,
+  type GetObservablePluginLinks,
+} from '../services/pluginExtensions/getObservablePluginLinks';
diff --git a/packages/grafana-runtime/src/services/pluginExtensions/getObservablePluginComponents.ts b/packages/grafana-runtime/src/services/pluginExtensions/getObservablePluginComponents.ts
new file mode 100644
index 00000000000..923646fafd8
--- /dev/null
+++ b/packages/grafana-runtime/src/services/pluginExtensions/getObservablePluginComponents.ts
@@ -0,0 +1,36 @@
+import { Observable } from 'rxjs';
+
+import { PluginExtensionComponent } from '@grafana/data';
+
+type GetObservablePluginComponentsOptions = {
+  context?: object | Record<string, unknown>;
+  extensionPointId: string;
+  limitPerPlugin?: number;
+};
+
+export type GetObservablePluginComponents = (
+  options: GetObservablePluginComponentsOptions
+) => Observable<PluginExtensionComponent[]>;
+
+let singleton: GetObservablePluginComponents | undefined;
+
+export function setGetObservablePluginComponents(fn: GetObservablePluginComponents): void {
+  // We allow overriding the registry in tests
+  if (singleton && process.env.NODE_ENV !== 'test') {
+    throw new Error(
+      'setGetObservablePluginComponents() function should only be called once, when Grafana is starting.'
+    );
+  }
+
+  singleton = fn;
+}
+
+export function getObservablePluginComponents(
+  options: GetObservablePluginComponentsOptions
+): Observable<PluginExtensionComponent[]> {
+  if (!singleton) {
+    throw new Error('setGetObservablePluginComponents() can only be used after the Grafana instance has started.');
+  }
+
+  return singleton(options);
+}
diff --git a/packages/grafana-runtime/src/services/pluginExtensions/getObservablePluginLinks.ts b/packages/grafana-runtime/src/services/pluginExtensions/getObservablePluginLinks.ts
new file mode 100644
index 00000000000..004108c5696
--- /dev/null
+++ b/packages/grafana-runtime/src/services/pluginExtensions/getObservablePluginLinks.ts
@@ -0,0 +1,30 @@
+import { Observable } from 'rxjs';
+
+import { PluginExtensionLink } from '@grafana/data';
+
+type GetObservablePluginLinksOptions = {
+  context?: object | Record<string | symbol, unknown>;
+  extensionPointId: string;
+  limitPerPlugin?: number;
+};
+
+export type GetObservablePluginLinks = (options: GetObservablePluginLinksOptions) => Observable<PluginExtensionLink[]>;
+
+let singleton: GetObservablePluginLinks | undefined;
+
+export function setGetObservablePluginLinks(fn: GetObservablePluginLinks): void {
+  // We allow overriding the registry in tests
+  if (singleton && process.env.NODE_ENV !== 'test') {
+    throw new Error('setGetObservablePluginLinks() function should only be called once, when Grafana is starting.');
+  }
+
+  singleton = fn;
+}
+
+export function getObservablePluginLinks(options: GetObservablePluginLinksOptions): Observable<PluginExtensionLink[]> {
+  if (!singleton) {
+    throw new Error('setGetObservablePluginLinks() can only be used after the Grafana instance has started.');
+  }
+
+  return singleton(options);
+}
diff --git a/packages/grafana-runtime/src/unstable.ts b/packages/grafana-runtime/src/unstable.ts
index 07bb817ac5b..a399c1e35e1 100644
--- a/packages/grafana-runtime/src/unstable.ts
+++ b/packages/grafana-runtime/src/unstable.ts
@@ -11,3 +11,6 @@
 
 export { useTranslate, setUseTranslateHook, setTransComponent, Trans } from './utils/i18n';
 export type { TransProps } from './types/i18n';
+
+export { getObservablePluginLinks } from './services/pluginExtensions/getObservablePluginLinks';
+export { getObservablePluginComponents } from './services/pluginExtensions/getObservablePluginComponents';
diff --git a/public/app/app.ts b/public/app/app.ts
index 1134fea8dbb..c21cfabd4c8 100644
--- a/public/app/app.ts
+++ b/public/app/app.ts
@@ -40,7 +40,13 @@ import {
   setCorrelationsService,
   setPluginFunctionsHook,
 } from '@grafana/runtime';
-import { setPanelDataErrorView, setPanelRenderer, setPluginPage } from '@grafana/runtime/internal';
+import {
+  setGetObservablePluginComponents,
+  setGetObservablePluginLinks,
+  setPanelDataErrorView,
+  setPanelRenderer,
+  setPluginPage,
+} from '@grafana/runtime/internal';
 import config, { updateConfig } from 'app/core/config';
 import { getStandardTransformers } from 'app/features/transformers/standardTransformers';
 
@@ -74,6 +80,10 @@ import { initGrafanaLive } from './features/live';
 import { PanelDataErrorView } from './features/panel/components/PanelDataErrorView';
 import { PanelRenderer } from './features/panel/components/PanelRenderer';
 import { DatasourceSrv } from './features/plugins/datasource_srv';
+import {
+  getObservablePluginComponents,
+  getObservablePluginLinks,
+} from './features/plugins/extensions/getPluginExtensions';
 import { usePluginComponent } from './features/plugins/extensions/usePluginComponent';
 import { usePluginComponents } from './features/plugins/extensions/usePluginComponents';
 import { usePluginFunctions } from './features/plugins/extensions/usePluginFunctions';
@@ -215,6 +225,8 @@ export class GrafanaApp {
       setPluginComponentHook(usePluginComponent);
       setPluginComponentsHook(usePluginComponents);
       setPluginFunctionsHook(usePluginFunctions);
+      setGetObservablePluginLinks(getObservablePluginLinks);
+      setGetObservablePluginComponents(getObservablePluginComponents);
 
       // initialize chrome service
       const queryParams = locationService.getSearchObject();
diff --git a/public/app/features/plugins/extensions/getPluginExtensions.test.tsx b/public/app/features/plugins/extensions/getPluginExtensions.test.tsx
index 14bf2cd9ba6..e3a2fcb6a71 100644
--- a/public/app/features/plugins/extensions/getPluginExtensions.test.tsx
+++ b/public/app/features/plugins/extensions/getPluginExtensions.test.tsx
@@ -1,13 +1,24 @@
 import * as React from 'react';
 
-import { PluginExtensionAddedComponentConfig, PluginExtensionAddedLinkConfig } from '@grafana/data';
+import {
+  type PluginExtensionAddedLinkConfig,
+  type PluginExtensionAddedComponentConfig,
+  PluginExtensionTypes,
+} from '@grafana/data';
 import { reportInteraction } from '@grafana/runtime';
 
-import { getPluginExtensions } from './getPluginExtensions';
+import {
+  getObservablePluginComponents,
+  getObservablePluginExtensions,
+  getObservablePluginLinks,
+  getPluginExtensions,
+} from './getPluginExtensions';
 import { log } from './logs/log';
 import { resetLogMock } from './logs/testUtils';
 import { AddedComponentsRegistry } from './registry/AddedComponentsRegistry';
 import { AddedLinksRegistry } from './registry/AddedLinksRegistry';
+import { pluginExtensionRegistries } from './registry/setup';
+import type { GetExtensions } from './types';
 import { isReadOnlyProxy } from './utils';
 import { assertPluginExtensionLink } from './validators';
 
@@ -61,9 +72,9 @@ describe('getPluginExtensions()', () => {
   const extensionPoint3 = 'grafana/datasources/config/v1';
   const pluginId = 'grafana-basic-app';
   // Sample extension configs that are used in the tests below
-  let link1: PluginExtensionAddedLinkConfig,
-    link2: PluginExtensionAddedLinkConfig,
-    component1: PluginExtensionAddedComponentConfig;
+  let link1: PluginExtensionAddedLinkConfig;
+  let link2: PluginExtensionAddedLinkConfig;
+  let component1: PluginExtensionAddedComponentConfig;
 
   beforeEach(() => {
     link1 = {
@@ -564,3 +575,174 @@ describe('getPluginExtensions()', () => {
     );
   });
 });
+
+describe('getObservablePluginExtensions()', () => {
+  const extensionPointId = 'grafana/dashboard/panel/menu/v1';
+  const pluginId = 'grafana-basic-app';
+
+  beforeEach(() => {
+    pluginExtensionRegistries.addedLinksRegistry = new AddedLinksRegistry();
+    pluginExtensionRegistries.addedComponentsRegistry = new AddedComponentsRegistry();
+    pluginExtensionRegistries.addedLinksRegistry.register({
+      pluginId,
+      configs: [
+        {
+          title: 'Link 1',
+          description: 'Link 1 description',
+          path: `/a/${pluginId}/declare-incident`,
+          targets: extensionPointId,
+          configure: jest.fn().mockReturnValue({}),
+        },
+      ],
+    });
+
+    pluginExtensionRegistries.addedComponentsRegistry.register({
+      pluginId,
+      configs: [
+        {
+          title: 'Component 1',
+          description: 'Component 1 description',
+          targets: extensionPointId,
+          component: () => {
+            return <div>Hello world!</div>;
+          },
+        },
+      ],
+    });
+  });
+
+  it('should emit the initial state when no changes are made to the registries', () => {
+    const observable = getObservablePluginExtensions({ extensionPointId });
+
+    observable.subscribe((value: ReturnType<GetExtensions>) => {
+      expect(value.extensions).toHaveLength(2);
+      expect(value.extensions[0].pluginId).toBe(pluginId);
+      expect(value.extensions[1].pluginId).toBe(pluginId);
+    });
+  });
+
+  it('should emit the new state when the registries change', () => {
+    const observable = getObservablePluginExtensions({ extensionPointId });
+    const subscriber = jest.fn();
+
+    observable.subscribe(subscriber);
+
+    // Initial state
+    expect(subscriber).toHaveBeenCalledTimes(2);
+    expect(subscriber.mock.calls[1][0].extensions).toHaveLength(2);
+    expect(subscriber.mock.calls[1][0].extensions[0].pluginId).toBe(pluginId);
+    expect(subscriber.mock.calls[1][0].extensions[1].pluginId).toBe(pluginId);
+
+    // Register new link extension
+    pluginExtensionRegistries.addedLinksRegistry.register({
+      pluginId,
+      configs: [
+        {
+          title: 'Link 2',
+          description: 'Link 2 description',
+          path: `/a/${pluginId}/declare-incident`,
+          targets: extensionPointId,
+          configure: jest.fn().mockReturnValue({}),
+        },
+      ],
+    });
+
+    expect(subscriber).toHaveBeenCalledTimes(3);
+    expect(subscriber.mock.calls[2][0].extensions).toHaveLength(3);
+    expect(subscriber.mock.calls[2][0].extensions[0].pluginId).toBe(pluginId);
+    expect(subscriber.mock.calls[2][0].extensions[1].pluginId).toBe(pluginId);
+    expect(subscriber.mock.calls[2][0].extensions[2].pluginId).toBe(pluginId);
+  });
+});
+
+describe('getObservablePluginLinks()', () => {
+  const extensionPointId = 'grafana/dashboard/panel/menu/v1';
+  const pluginId = 'grafana-basic-app';
+
+  beforeEach(() => {
+    pluginExtensionRegistries.addedLinksRegistry = new AddedLinksRegistry();
+    pluginExtensionRegistries.addedComponentsRegistry = new AddedComponentsRegistry();
+    pluginExtensionRegistries.addedLinksRegistry.register({
+      pluginId,
+      configs: [
+        {
+          title: 'Link 1',
+          description: 'Link 1 description',
+          path: `/a/${pluginId}/declare-incident`,
+          targets: extensionPointId,
+          configure: jest.fn().mockReturnValue({}),
+        },
+      ],
+    });
+
+    pluginExtensionRegistries.addedComponentsRegistry.register({
+      pluginId,
+      configs: [
+        {
+          title: 'Component 1',
+          description: 'Component 1 description',
+          targets: extensionPointId,
+          component: () => {
+            return <div>Hello world!</div>;
+          },
+        },
+      ],
+    });
+  });
+
+  it('should only emit the links', () => {
+    const observable = getObservablePluginLinks({ extensionPointId });
+
+    observable.subscribe((value: ReturnType<GetExtensions>) => {
+      expect(value.extensions).toHaveLength(1);
+      expect(value.extensions[0].pluginId).toBe(pluginId);
+      expect(value.extensions[0].type).toBe(PluginExtensionTypes.link);
+    });
+  });
+});
+
+describe('getObservablePluginComponents()', () => {
+  const extensionPointId = 'grafana/dashboard/panel/menu/v1';
+  const pluginId = 'grafana-basic-app';
+
+  beforeEach(() => {
+    pluginExtensionRegistries.addedLinksRegistry = new AddedLinksRegistry();
+    pluginExtensionRegistries.addedComponentsRegistry = new AddedComponentsRegistry();
+    pluginExtensionRegistries.addedLinksRegistry.register({
+      pluginId,
+      configs: [
+        {
+          title: 'Link 1',
+          description: 'Link 1 description',
+          path: `/a/${pluginId}/declare-incident`,
+          targets: extensionPointId,
+          configure: jest.fn().mockReturnValue({}),
+        },
+      ],
+    });
+
+    pluginExtensionRegistries.addedComponentsRegistry.register({
+      pluginId,
+      configs: [
+        {
+          title: 'Component 1',
+          description: 'Component 1 description',
+          targets: extensionPointId,
+          component: () => {
+            return <div>Hello world!</div>;
+          },
+        },
+      ],
+    });
+  });
+
+  it('should only emit the components', () => {
+    const observable = getObservablePluginComponents({ extensionPointId });
+
+    observable.subscribe((value: ReturnType<GetExtensions>) => {
+      expect(value.extensions).toHaveLength(1);
+      expect(value.extensions[0].pluginId).toBe(pluginId);
+      expect(value.extensions[0].type).toBe(PluginExtensionTypes.component);
+    });
+  });
+});
diff --git a/public/app/features/plugins/extensions/getPluginExtensions.ts b/public/app/features/plugins/extensions/getPluginExtensions.ts
index fcf223f9d4d..55d75e07f91 100644
--- a/public/app/features/plugins/extensions/getPluginExtensions.ts
+++ b/public/app/features/plugins/extensions/getPluginExtensions.ts
@@ -1,4 +1,5 @@
 import { isString } from 'lodash';
+import { filter, map, Observable } from 'rxjs';
 
 import {
   PluginExtensionTypes,
@@ -6,13 +7,15 @@ import {
   type PluginExtensionLink,
   type PluginExtensionComponent,
 } from '@grafana/data';
+import { type GetObservablePluginLinks, type GetObservablePluginComponents } from '@grafana/runtime/internal';
 
 import { log } from './logs/log';
 import { AddedComponentRegistryItem } from './registry/AddedComponentsRegistry';
 import { AddedLinkRegistryItem } from './registry/AddedLinksRegistry';
 import { RegistryType } from './registry/Registry';
+import { pluginExtensionRegistries } from './registry/setup';
 import type { PluginExtensionRegistries } from './registry/types';
-import { GetExtensions, GetPluginExtensions } from './types';
+import { GetExtensions, GetExtensionsOptions, GetPluginExtensions } from './types';
 import {
   getReadOnlyProxy,
   generateExtensionId,
@@ -22,6 +25,78 @@ import {
   getLinkExtensionPathWithTracking,
 } from './utils';
 
+/**
+ * Returns an observable that emits plugin extensions whenever the core extensions registries change.
+ * The observable will emit the initial state of the extensions and then emit again whenever
+ * either the added components registry or the added links registry changes.
+ *
+ * @param options - The options for getting plugin extensions
+ * @returns An Observable that emits the plugin extensions for the given extension point any time the registries change
+ */
+
+export const getObservablePluginExtensions = (
+  options: Omit<GetExtensionsOptions, 'addedComponentsRegistry' | 'addedLinksRegistry'>
+): Observable<ReturnType<GetExtensions>> => {
+  return new Observable((subscriber) => {
+    let addedComponentsRegistry: RegistryType<AddedComponentRegistryItem[]> | undefined;
+    let addedLinksRegistry: RegistryType<Array<AddedLinkRegistryItem<object>>> | undefined;
+
+    const emitExtensions = () => {
+      subscriber.next(
+        getPluginExtensions({
+          ...options,
+          addedComponentsRegistry,
+          addedLinksRegistry,
+        })
+      );
+    };
+
+    // Reading the initial state of the registries
+    Promise.all([
+      pluginExtensionRegistries.addedComponentsRegistry.getState(),
+      pluginExtensionRegistries.addedLinksRegistry.getState(),
+    ]).then(([currentAddedComponentsRegistry, currentAddedLinksRegistry]) => {
+      addedComponentsRegistry = currentAddedComponentsRegistry;
+      addedLinksRegistry = currentAddedLinksRegistry;
+      emitExtensions();
+    });
+
+    const addedComponentsSub = pluginExtensionRegistries.addedComponentsRegistry
+      .asObservable()
+      .subscribe((currentAddedComponentsRegistry) => {
+        addedComponentsRegistry = currentAddedComponentsRegistry;
+        emitExtensions();
+      });
+
+    const addedLinksSub = pluginExtensionRegistries.addedLinksRegistry
+      .asObservable()
+      .subscribe((currentAddedLinksRegistry) => {
+        addedLinksRegistry = currentAddedLinksRegistry;
+        emitExtensions();
+      });
+
+    // Cleanup subscriptions
+    return () => {
+      addedComponentsSub?.unsubscribe();
+      addedLinksSub?.unsubscribe();
+    };
+  });
+};
+
+export const getObservablePluginLinks: GetObservablePluginLinks = (options) => {
+  return getObservablePluginExtensions(options).pipe(
+    map((value) => value.extensions.filter((extension) => extension.type === PluginExtensionTypes.link)),
+    filter((extensions) => extensions.length > 0)
+  );
+};
+
+export const getObservablePluginComponents: GetObservablePluginComponents = (options) => {
+  return getObservablePluginExtensions(options).pipe(
+    map((value) => value.extensions.filter((extension) => extension.type === PluginExtensionTypes.component)),
+    filter((extensions) => extensions.length > 0)
+  );
+};  
+
 export function createPluginExtensionsGetter(registries: PluginExtensionRegistries): GetPluginExtensions {
   let addedComponentsRegistry: RegistryType<AddedComponentRegistryItem[]>;
   let addedLinksRegistry: RegistryType<Array<AddedLinkRegistryItem<object>>>;
diff --git a/public/app/features/plugins/extensions/types.ts b/public/app/features/plugins/extensions/types.ts
index 7181c249240..b83c2837fe7 100644
--- a/public/app/features/plugins/extensions/types.ts
+++ b/public/app/features/plugins/extensions/types.ts
@@ -4,19 +4,15 @@ import { AddedComponentRegistryItem } from './registry/AddedComponentsRegistry';
 import { AddedLinkRegistryItem } from './registry/AddedLinksRegistry';
 import { RegistryType } from './registry/Registry';
 
-export type GetExtensions = ({
-  context,
-  extensionPointId,
-  limitPerPlugin,
-  addedLinksRegistry,
-  addedComponentsRegistry,
-}: {
+export type GetExtensionsOptions = {
   context?: object | Record<string | symbol, unknown>;
   extensionPointId: string;
   limitPerPlugin?: number;
   addedComponentsRegistry: RegistryType<AddedComponentRegistryItem[]> | undefined;
   addedLinksRegistry: RegistryType<AddedLinkRegistryItem[]> | undefined;
-}) => { extensions: PluginExtension[] };
+};
+
+export type GetExtensions = (options: GetExtensionsOptions) => { extensions: PluginExtension[] };
 
 export type GetPluginExtensions<T = PluginExtension> = (options: {
   extensionPointId: string;