diff --git a/packages/web3-eth-contract/test/fixtures/Abi.json b/packages/web3-eth-contract/test/fixtures/Abi.json
new file mode 100644
index 00000000000..3538463596d
--- /dev/null
+++ b/packages/web3-eth-contract/test/fixtures/Abi.json
@@ -0,0 +1,82 @@
+{
+    anonymous: false,
+    constant: true,
+    inputs: [
+        {
+            name: 'testMe',
+            type: 'uint256[3]'
+        },
+        {
+            name: 'inputA',
+            type: 'tuple',
+            components: [
+                {
+                    name: 'a',
+                    type: 'uint8'
+                },
+                {
+                    name: 'b',
+                    type: 'uint8'
+                }
+            ]
+        },
+        {
+            name: 'inputB',
+            type: 'tuple[]',
+            components: [
+                {
+                    name: 'a1',
+                    type: 'uint256'
+                },
+                {
+                    name: 'a2',
+                    type: 'uint256'
+                }
+            ]
+        },
+        {
+            name: 'inputC',
+            type: 'uint8',
+            indexed: false
+        }
+    ],
+    name: "testName",
+    outputs: [
+        {
+            name: "test",
+            type: "uint256"
+        },
+        {
+            name: 'outputA',
+            type: 'tuple',
+            components: [
+                {
+                    name: 'a',
+                    type: 'uint8'
+                },
+                {
+                    name: 'b',
+                    type: 'uint8'
+                }
+            ]
+        },
+        {
+            name: 'outputB',
+            type: 'tuple[]',
+            components: [
+                {
+                    name: 'a1',
+                    type: 'uint256'
+                },
+                {
+                    name: 'a2',
+                    type: 'uint256'
+                }
+            ]
+        }
+    ],
+    payable: false,
+    stateMutability: "pure",
+    type: "function",
+    gas: 175875
+}
\ No newline at end of file
diff --git a/packages/web3-eth-contract/test/unit/contract.test.ts b/packages/web3-eth-contract/test/unit/contract.test.ts
index e86d04cc4cd..b2917c86d9c 100644
--- a/packages/web3-eth-contract/test/unit/contract.test.ts
+++ b/packages/web3-eth-contract/test/unit/contract.test.ts
@@ -20,7 +20,8 @@ import { ValidChains, Hardfork, AccessListResult, Address, ETH_DATA_FORMAT , DEF
 import { Web3ContractError } from 'web3-errors';
 import { Web3Context , Web3ConfigEvent } from 'web3-core';
 import { Web3ValidatorError } from 'web3-validator';
-
+import { AbiItem } from 'web3-utils';
+import {Abi} from '../fixtures/Abi.json'
 import { Contract } from '../../src';
 import { sampleStorageContractABI } from '../fixtures/storage';
 import { GreeterAbi, GreeterBytecode } from '../shared_fixtures/build/Greeter';
@@ -110,6 +111,16 @@ describe('Contract', () => {
 			expect(contract).toBeInstanceOf(Contract);
 		});
 
+		it('should init with abiItem, options and context', () => {
+			const contract = new Contract(
+				[Abi as AbiItem],
+				{ gas: '123' },
+				{ config: { defaultAccount: '0x00000000219ab540356cBB839Cbe05303d7705Fa' } },
+			);
+
+			expect(contract).toBeInstanceOf(Contract);
+		});
+
 		it('should init with abi, address and options', () => {
 			const contract = new Contract([], '0x00000000219ab540356cBB839Cbe05303d7705Fa', {
 				gas: '123',
diff --git a/packages/web3-types/CHANGELOG.md b/packages/web3-types/CHANGELOG.md
index 3b48f4ffc68..2dedcbca907 100644
--- a/packages/web3-types/CHANGELOG.md
+++ b/packages/web3-types/CHANGELOG.md
@@ -177,4 +177,8 @@ Documentation:
 -   Interface `MetaMaskProvider` added and is part of `SupportedProviders` (#6534)
 -   `gasPrice` was added to `Transaction1559UnsignedAPI` type. (#6539)
 
-## [Unreleased]
\ No newline at end of file
+## [Unreleased]
+
+### Added
+
+-   Adds missing exported type `AbiItem` from 1.x to v4 for compatabiltiy (#6678)
\ No newline at end of file
diff --git a/packages/web3-types/src/eth_abi_types.ts b/packages/web3-types/src/eth_abi_types.ts
index 0f461693602..07b9374f4db 100644
--- a/packages/web3-types/src/eth_abi_types.ts
+++ b/packages/web3-types/src/eth_abi_types.ts
@@ -139,15 +139,6 @@ export type AbiErrorFragment = AbiBaseFragment & {
 	readonly inputs?: ReadonlyArray<AbiParameter>;
 };
 
-// https://docs.soliditylang.org/en/latest/abi-spec.html#json
-export type AbiFragment =
-	| AbiConstructorFragment
-	| AbiFunctionFragment
-	| AbiEventFragment
-	| AbiErrorFragment
-	| AbiFallbackFragment;
-
-export type ContractAbi = ReadonlyArray<AbiFragment>;
 
 export type AbiInput =
 	| string
@@ -161,6 +152,28 @@ export type AbiInput =
 	  }
 	| { readonly [key: string]: unknown };
 
+	export interface AbiOutput {
+		name: string;
+		type: string;
+		components?: AbiOutput[];
+		internalType?: string;
+	}
+	
+
+
+// https://docs.soliditylang.org/en/latest/abi-spec.html#json
+export type AbiFragment =
+	| AbiConstructorFragment
+	| AbiFunctionFragment
+	| AbiEventFragment
+	| AbiErrorFragment
+	| AbiFallbackFragment
+
+// to be compatible with web3js v1
+export type AbiItem = AbiFragment
+export type ContractAbi = ReadonlyArray<AbiFragment> | ReadonlyArray<AbiItem>
+
+
 // https://docs.soliditylang.org/en/develop/abi-spec.html#json
 export type JsonFunctionInterface = {
 	type: 'function';
diff --git a/packages/web3-utils/CHANGELOG.md b/packages/web3-utils/CHANGELOG.md
index d63c09119cc..1204a73951c 100644
--- a/packages/web3-utils/CHANGELOG.md
+++ b/packages/web3-utils/CHANGELOG.md
@@ -187,4 +187,8 @@ Documentation:
 
 -   Fixed an issue with detecting Uint8Array (#6486)
 
-## [Unreleased]
\ No newline at end of file
+## [Unreleased]
+
+### Added
+
+-   Adds missing exported type `AbiItem` from 1.x to v4 for compatabiltiy (#6678)
\ No newline at end of file
diff --git a/packages/web3-utils/src/index.ts b/packages/web3-utils/src/index.ts
index 52bb219692b..e5f467ec5f8 100644
--- a/packages/web3-utils/src/index.ts
+++ b/packages/web3-utils/src/index.ts
@@ -32,3 +32,5 @@ export * from './uuid.js';
 export * from './web3_eip1193_provider.js';
 export * from './socket_provider.js';
 export * from './uint8array.js';
+// for backwards compatibility with v1
+export {AbiItem} from 'web3-types';
\ No newline at end of file