diff --git a/runpod/serverless/utils/rp_model_cache.py b/runpod/serverless/utils/rp_model_cache.py
new file mode 100644
index 00000000..b16694ca
--- /dev/null
+++ b/runpod/serverless/utils/rp_model_cache.py
@@ -0,0 +1,47 @@
+"""Utility function for transforming HuggingFace repositories into model-cache paths"""
+
+import typing
+from runpod.serverless.modules.rp_logger import RunPodLogger
+
+log = RunPodLogger()
+
+
+def resolve_model_cache_path_from_hugginface_repository(
+    huggingface_repository: str,
+    /,
+    path_template: str = "/runpod/cache/{model}/{revision}",  # TODO: Should we just hardcode this?
+) -> typing.Union[str, None]:
+    """
+    Resolves the model-cache path for a HuggingFace model based on its repository string.
+
+    Args:
+        huggingface_repository (str): Repository string in format "model_name:revision" or
+                                    "org/model_name:revision". If no revision is specified,
+                                    "main" is used. For example:
+                                    - "runwayml/stable-diffusion-v1-5:experimental"
+                                    - "runwayml/stable-diffusion-v1-5" (uses "main" revision)
+                                    - "stable-diffusion-v1-5:main"
+        path_template (str, optional): Template string for the cache path. Must contain {model}
+                                     and {revision} placeholders. Defaults to "/runpod/cache/{model}/{revision}".
+
+    Returns:
+        str | None: Absolute path where the model is cached, following the template provided in path_template. Returns None if no model name could be extracted.
+
+    Examples:
+        >>> resolve_model_cache_path_from_hugginface_repository("runwayml/stable-diffusion-v1-5:experimental")
+        "/runpod/cache/runwayml/stable-diffusion-v1-5/experimental"
+        >>> resolve_model_cache_path_from_hugginface_repository("runwayml/stable-diffusion-v1-5")
+        "/runpod/cache/runwayml/stable-diffusion-v1-5/main"
+        >>> resolve_model_cache_path_from_hugginface_repository(":experimental")
+        None
+    """
+    model, *revision = huggingface_repository.rsplit(":", 1)
+    if not model:
+        # We could throw an exception here but returning None allows us to filter a list of repositories without needing a try/except block
+        log.warn(  # type: ignore in strict mode the typechecker complains about this method being partially unknown
+            f'Unable to resolve the model-cache path for "{huggingface_repository}"'
+        )
+        return None
+    return path_template.format(
+        model=model, revision=revision[0] if revision else "main"
+    )
diff --git a/tests/test_serverless/test_utils/test_model_cache.py b/tests/test_serverless/test_utils/test_model_cache.py
new file mode 100644
index 00000000..28cea0ab
--- /dev/null
+++ b/tests/test_serverless/test_utils/test_model_cache.py
@@ -0,0 +1,53 @@
+import unittest
+
+from runpod.serverless.utils.rp_model_cache import (
+    resolve_model_cache_path_from_hugginface_repository,
+)
+
+
+class TestModelCache(unittest.TestCase):
+    """Tests for rp_model_cache"""
+
+    def test_with_revision(self):
+        """Test with a revision"""
+        path = resolve_model_cache_path_from_hugginface_repository(
+            "runwayml/stable-diffusion-v1-5:experimental"
+        )
+        self.assertEqual(
+            path, "/runpod/cache/runwayml/stable-diffusion-v1-5/experimental"
+        )
+
+    def test_without_revision(self):
+        """Test without a revision"""
+        path = resolve_model_cache_path_from_hugginface_repository(
+            "runwayml/stable-diffusion-v1-5"
+        )
+        self.assertEqual(path, "/runpod/cache/runwayml/stable-diffusion-v1-5/main")
+
+    def test_with_multiple_colons(self):
+        """Test with multiple colons"""
+        path = resolve_model_cache_path_from_hugginface_repository(
+            "runwayml/stable-diffusion:v1-5:experimental"
+        )
+        self.assertEqual(
+            path, "/runpod/cache/runwayml/stable-diffusion:v1-5/experimental"
+        )
+
+    def test_with_custom_path_template(self):
+        """Test with a custom path template"""
+        path = resolve_model_cache_path_from_hugginface_repository(
+            "runwayml/stable-diffusion-v1-5:experimental",
+            "/my-custom-model-cache/{model}/{revision}",
+        )
+        self.assertEqual(
+            path, "/my-custom-model-cache/runwayml/stable-diffusion-v1-5/experimental"
+        )
+
+    def test_with_missing_model_name(self):
+        """Test with a missing model name"""
+        path = resolve_model_cache_path_from_hugginface_repository(":experimental")
+        self.assertIsNone(path)
+
+
+if __name__ == "__main__":
+    unittest.main()