A novel approach is proposed for using the phase conjugation phenomenon for dynamic correction of distortions in beam forming laser systems. The method is based on the well-known application of a special diffraction structure on the surface of corrected optical elements ensuring nonreciprocal beam propagation in a system including a phase conjugate mirror. The main feature of the proposed approach is that it uses the diffraction structure which is not static (as usually) but is written dynamically by a small auxiliary laser source irradiating the corrected element surface simultaneously with the working beam. This makes it possible to extend the capabilities of the known method with respect to scaling-up the size of compensated mirrors and allows replacement of a large solid mirror by a segmented one. The novel method of correction has been tested experimentally by the use of 1.06 μm radiation for recording the dynamic hologram and a 10.6 μm laser beam as the working beam, distorted by a two-segment mirror with a dynamic hologram on its surface and corrected by a phase conjugate mirror. The means of dynamic hologram recording in different spectral ranges are discussed.