diff --git a/CHANGELOG.md b/CHANGELOG.md
index b12a0b7..b47761f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,10 @@
 All notable changes to this project will be documented in this file.
 This project adheres to [Semantic Versioning](http://semver.org/).
 
+## [3.18.2] - 2024-10-30
+### Fixed
+- Fixed implementation of `update_access_policy()` API
+
 ## [3.18.1] - 2024-10-29
 ### Fixed
 - Updated `AccessPolicy` model for Admin Organization
diff --git a/docs/clients/admin/admin_client.md b/docs/clients/admin/admin_client.md
index d4dc9e1..7879db6 100644
--- a/docs/clients/admin/admin_client.md
+++ b/docs/clients/admin/admin_client.md
@@ -390,7 +390,7 @@ __Returns__
 <h2 id="spotinst_sdk2.clients.admin.AdminClient.update_access_policy">update_access_policy</h2>
 
 ```python
-AdminClient.update_access_policy(policy_id: str, policy_name: str)
+AdminClient.update_access_policy(policy_id: str, policy: AccessPolicy)
 ```
 
 Updates an access policy settings.
@@ -398,7 +398,7 @@ Updates an access policy settings.
 __Arguments__
 
 - __policy_id (String)__: Policy ID
-- __policy_name (String)__: Name to be set for the policy
+- __policy (AccessPolicy)__: AccessPolicy Object
 
 __Returns__
 
diff --git a/spotinst_sdk2/clients/admin/__init__.py b/spotinst_sdk2/clients/admin/__init__.py
index 70c28c6..5608b8d 100644
--- a/spotinst_sdk2/clients/admin/__init__.py
+++ b/spotinst_sdk2/clients/admin/__init__.py
@@ -556,24 +556,33 @@ def create_access_policy(self, policy: admin_org.AccessPolicy):
 
         return ret_val
 
-    def update_access_policy(self, policy_id: str, policy_name: str):
+    def update_access_policy(self, policy_id: str, policy: admin_org.AccessPolicy):
         """
         Updates an access policy settings.
 
         # Arguments
         policy_id (String): Policy ID
-        policy_name (String): Name to be set for the policy
+        policy (AccessPolicy): AccessPolicy Object
 
         # Returns
         (Object): Spotinst API response
         """
-        response = self.send_put(
-            url=self.__base_setup_url + "/access/policy/" + policy_id,
-            body=json.dumps(dict(policy=dict(name=policy_name))),
-            entity_name="policy")
+        request = admin_org.AccessPolicyUpdationRequest(policy)
+
+        excluded_policy_dict = self.exclude_missing(
+            json.loads(request.toJSON()))
+
+        formatted_policy_dict = self.convert_json(
+            excluded_policy_dict, self.underscore_to_camel)
+
+        body_json = json.dumps(formatted_policy_dict)
+
+        policy_response = self.send_put(
+            body=body_json,
+            url=self.__base_setup_url + "/access/policy/" + policy_id, entity_name="policy")
 
         formatted_response = self.convert_json(
-            response, self.camel_to_underscore)
+            policy_response, self.camel_to_underscore)
 
         return formatted_response["response"]["status"]
 
diff --git a/spotinst_sdk2/models/admin/organization.py b/spotinst_sdk2/models/admin/organization.py
index 3fabd3e..b4a099a 100644
--- a/spotinst_sdk2/models/admin/organization.py
+++ b/spotinst_sdk2/models/admin/organization.py
@@ -109,6 +109,15 @@ def toJSON(self):
                           sort_keys=True, indent=4)
 
 
+class AccessPolicyUpdationRequest:
+    def __init__(self, policy: AccessPolicy):
+        self.policy = policy
+
+    def toJSON(self):
+        return json.dumps(self, default=lambda o: o.__dict__,
+                          sort_keys=True, indent=4)
+
+
 class UserGroupCreationRequest:
     def __init__(self, group: UserGroup):
         self.description = group.description
diff --git a/spotinst_sdk2/version.py b/spotinst_sdk2/version.py
index 12879d5..5f22db9 100644
--- a/spotinst_sdk2/version.py
+++ b/spotinst_sdk2/version.py
@@ -1 +1,2 @@
-__version__ = '3.18.1'
+__version__ = '3.18.2'
+