diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2c5b3498be..fccd3b7465 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -21,6 +21,7 @@ This change log adheres to standards from [Keep a CHANGELOG](http://keepachangel
 * [`destructuring-assignment`], component detection: handle default exports edge case ([#3038][] @vedadeepta)
 * [`no-typos`]: fix crash on private methods ([#3043][] @ljharb)
 * [`jsx-no-bind`]: handle local function declarations ([#3048][] @p7g)
+* [`prop-types`], `propTypes`: handle React.* TypeScript types ([#3049][] @vedadeepta)
 
 ### Changed
 * [Docs] [`jsx-no-bind`]: updates discussion of refs ([#2998][] @dimitropoulos)
@@ -29,6 +30,7 @@ This change log adheres to standards from [Keep a CHANGELOG](http://keepachangel
 * [Docs] [`require-default-props`]: fix small typo ([#2994][] @evsasse)
 * [Tests] add weekly scheduled smoke tests ([#2963][] @AriPerkkio)
 
+[#3049]: https://github.com/yannickcr/eslint-plugin-react/pull/3049
 [#3048]: https://github.com/yannickcr/eslint-plugin-react/pull/3048
 [#3043]: https://github.com/yannickcr/eslint-plugin-react/issues/3043
 [#3039]: https://github.com/yannickcr/eslint-plugin-react/pull/3039
diff --git a/lib/util/propTypes.js b/lib/util/propTypes.js
index 95671b9a2f..27ed04b7be 100644
--- a/lib/util/propTypes.js
+++ b/lib/util/propTypes.js
@@ -23,8 +23,8 @@ function isFunctionType(node) {
   if (!node) return false;
   const nodeType = node.type;
   return nodeType === 'FunctionDeclaration'
-        || nodeType === 'FunctionExpression'
-        || nodeType === 'ArrowFunctionExpression';
+    || nodeType === 'FunctionExpression'
+    || nodeType === 'ArrowFunctionExpression';
 }
 
 /**
@@ -100,6 +100,7 @@ module.exports = function propTypesInstructions(context, components, utils) {
   const defaults = {customValidators: []};
   const configuration = Object.assign({}, defaults, context.options[0] || {});
   const customValidators = configuration.customValidators;
+  const allowedGenericTypes = ['React.SFC', 'React.StatelessComponent', 'React.FunctionComponent', 'React.FC'];
 
   /**
    * Returns the full scope.
@@ -547,6 +548,11 @@ module.exports = function propTypesInstructions(context, components, utils) {
       let typeName;
       if (astUtil.isTSTypeReference(node)) {
         typeName = node.typeName.name;
+        if (!typeName && node.typeParameters && node.typeParameters.length !== 0) {
+          const nextNode = node.typeParameters.params[0];
+          this.visitTSNode(nextNode);
+          return;
+        }
       } else if (astUtil.isTSInterfaceHeritage(node)) {
         if (!node.expression && node.id) {
           typeName = node.id.name;
@@ -887,7 +893,15 @@ module.exports = function propTypesInstructions(context, components, utils) {
    *   FunctionDeclaration, or FunctionExpression
    */
   function markAnnotatedFunctionArgumentsAsDeclared(node) {
-    if (!node.params || !node.params.length || !annotations.isAnnotatedFunctionPropsDeclaration(node, context)) {
+    if (!node.params || !node.params.length) {
+      return;
+    }
+
+    const siblingIdentifier = node.parent && node.parent.id;
+    const siblingHasTypeAnnotation = siblingIdentifier && siblingIdentifier.typeAnnotation;
+    const isNodeAnnotated = annotations.isAnnotatedFunctionPropsDeclaration(node, context);
+
+    if (!isNodeAnnotated && !siblingHasTypeAnnotation) {
       return;
     }
 
@@ -901,17 +915,38 @@ module.exports = function propTypesInstructions(context, components, utils) {
       return;
     }
 
-    const param = node.params[0];
-    if (param.typeAnnotation && param.typeAnnotation.typeAnnotation && param.typeAnnotation.typeAnnotation.type === 'UnionTypeAnnotation') {
-      param.typeAnnotation.typeAnnotation.types.forEach((annotation) => {
-        if (annotation.type === 'GenericTypeAnnotation') {
-          markPropTypesAsDeclared(node, resolveTypeAnnotation(annotation));
-        } else {
-          markPropTypesAsDeclared(node, annotation);
-        }
-      });
+    if (isNodeAnnotated) {
+      const param = node.params[0];
+      if (param.typeAnnotation && param.typeAnnotation.typeAnnotation && param.typeAnnotation.typeAnnotation.type === 'UnionTypeAnnotation') {
+        param.typeAnnotation.typeAnnotation.types.forEach((annotation) => {
+          if (annotation.type === 'GenericTypeAnnotation') {
+            markPropTypesAsDeclared(node, resolveTypeAnnotation(annotation));
+          } else {
+            markPropTypesAsDeclared(node, annotation);
+          }
+        });
+      } else {
+        markPropTypesAsDeclared(node, resolveTypeAnnotation(param));
+      }
     } else {
-      markPropTypesAsDeclared(node, resolveTypeAnnotation(param));
+      // implements what's discussed here: https://github.com/yannickcr/eslint-plugin-react/issues/2777#issuecomment-683944481
+      const annotation = siblingIdentifier.typeAnnotation.typeAnnotation;
+
+      if (
+        annotation
+        && annotation.type !== 'TSTypeReference'
+        && annotation.typeParameters == null
+      ) {
+        return;
+      }
+
+      const typeName = context.getSourceCode().getText(annotation.typeName).replace(/ /g, '');
+
+      if (allowedGenericTypes.indexOf(typeName) === -1) {
+        return;
+      }
+
+      markPropTypesAsDeclared(node, resolveTypeAnnotation(siblingIdentifier));
     }
   }
 
diff --git a/tests/lib/rules/prop-types.js b/tests/lib/rules/prop-types.js
index 689e8e14da..27dff143d2 100644
--- a/tests/lib/rules/prop-types.js
+++ b/tests/lib/rules/prop-types.js
@@ -3147,6 +3147,55 @@ ruleTester.run('prop-types', rule, {
           }
         `,
         parser: parsers['@TYPESCRIPT_ESLINT']
+      },
+      {
+        code: `
+          interface PersonProps {
+              username: string;
+          }
+          const Person: React.FunctionComponent<PersonProps> = (props): React.ReactElement => (
+              <div>{props.username}</div>
+          );
+        `,
+        parser: parsers['@TYPESCRIPT_ESLINT']
+      },
+      {
+        code: `
+          const Person: React.FunctionComponent<PersonProps> = (props): React.ReactElement => (
+              <div>{props.username}</div>
+          );
+        `,
+        parser: parsers['@TYPESCRIPT_ESLINT']
+      },
+      {
+        code: `
+          interface PersonProps {
+              username: string;
+          }
+          const Person: React.FC<PersonProps> = (props): React.ReactElement => (
+              <div>{props.username}</div>
+          );
+        `,
+        parser: parsers['@TYPESCRIPT_ESLINT']
+      },
+      {
+        code: `
+          const Person: React.FunctionComponent<{ username: string }> = (props): React.ReactElement => (
+              <div>{props.username}</div>
+          );
+        `,
+        parser: parsers['@TYPESCRIPT_ESLINT']
+      },
+      {
+        code: `
+          type PersonProps = {
+              username: string;
+          }
+          const Person: React.FunctionComponent<PersonProps> = (props): React.ReactElement => (
+              <div>{props.username}</div>
+          );
+        `,
+        parser: parsers['@TYPESCRIPT_ESLINT']
       }
     ]),
     {
@@ -6621,6 +6670,42 @@ ruleTester.run('prop-types', rule, {
           }
         ],
         parser: parsers['@TYPESCRIPT_ESLINT']
+      },
+      {
+        code: `
+          import React from 'react';
+          interface PersonProps {
+              test: string;
+          }
+          const Person: React.FunctionComponent<PersonProps> = (props): React.ReactElement => (
+              <div>{props.username}</div>
+          );
+        `,
+        errors: [
+          {
+            messageId: 'missingPropType',
+            data: {name: 'username'}
+          }
+        ],
+        parser: parsers['@TYPESCRIPT_ESLINT']
+      },
+      {
+        code: `
+          import React from 'react';
+          interface PersonProps {
+              username: string;
+          }
+          const Person: React.FunctionComponent<PersonProps> = (props): React.ReactElement => (
+              <div>{props.test}</div>
+          );
+        `,
+        errors: [
+          {
+            messageId: 'missingPropType',
+            data: {name: 'test'}
+          }
+        ],
+        parser: parsers['@TYPESCRIPT_ESLINT']
       }
     ])
   )