diff --git a/docs/rules/prefer-ternary.md b/docs/rules/prefer-ternary.md
index 67f916852b..e66bb90853 100644
--- a/docs/rules/prefer-ternary.md
+++ b/docs/rules/prefer-ternary.md
@@ -120,3 +120,26 @@ if (test) {
 	baz = 2;
 }
 ```
+
+## Options
+
+Type: `string`\
+Default: `'always'`
+
+- `'always'` (default)
+	- Always report when using an `IfStatement` where a ternary expression can be used.
+- `'only-single-line'`
+	- Only check if the content of the `if` and/or `else` block is less than one line long.
+
+The following case is considered valid:
+
+```js
+// eslint unicorn/prefer-ternary: ["error", "only-single-line"]
+if (test) {
+	foo = [
+		'multiple line array'
+	];
+} else {
+	bar = baz;
+}
+```
diff --git a/rules/prefer-ternary.js b/rules/prefer-ternary.js
index 40524dbe6e..69b5641416 100644
--- a/rules/prefer-ternary.js
+++ b/rules/prefer-ternary.js
@@ -56,6 +56,7 @@ const getScopes = scope => [
 ];
 
 const create = context => {
+	const onlySingleLine = context.options[0] === 'only-single-line';
 	const sourceCode = context.getSourceCode();
 	const scopeToNamesGeneratedByFixer = new WeakMap();
 	const isSafeName = (name, scopes) => scopes.every(scope => {
@@ -76,6 +77,11 @@ const create = context => {
 			`(${text})` : text;
 	};
 
+	const isSingleLineNode = node => {
+		const [start, end] = node.range.map(index => sourceCode.getLocFromIndex(index));
+		return start.line === end.line;
+	};
+
 	function merge(options, mergeOptions) {
 		const {
 			before = '',
@@ -189,6 +195,13 @@ const create = context => {
 			const consequent = getNodeBody(node.consequent);
 			const alternate = getNodeBody(node.alternate);
 
+			if (
+				onlySingleLine &&
+				[consequent, alternate, node.test].some(node => !isSingleLineNode(node))
+			) {
+				return;
+			}
+
 			const result = merge({node, consequent, alternate}, {
 				checkThrowStatement: true,
 				returnFalseIfNotMergeable: true
@@ -199,7 +212,6 @@ const create = context => {
 			}
 
 			const scope = context.getScope();
-			const sourceCode = context.getSourceCode();
 
 			context.report({
 				node,
@@ -252,6 +264,13 @@ const create = context => {
 	};
 };
 
+const schema = [
+	{
+		enum: ['always', 'only-single-line'],
+		default: 'always'
+	}
+];
+
 module.exports = {
 	create,
 	meta: {
@@ -262,6 +281,7 @@ module.exports = {
 		messages: {
 			[messageId]: 'This `if` statement can be replaced by a ternary expression.'
 		},
+		schema,
 		fixable: 'code'
 	}
 };
diff --git a/test/prefer-ternary.js b/test/prefer-ternary.js
index c120340c3e..54c352d923 100644
--- a/test/prefer-ternary.js
+++ b/test/prefer-ternary.js
@@ -4,6 +4,8 @@ import {test} from './utils/test.js';
 const messageId = 'prefer-ternary';
 const errors = [{messageId}];
 
+const onlySingleLineOptions = ['only-single-line'];
+
 // ReturnStatement
 test({
 	valid: [
@@ -957,6 +959,134 @@ test({
 	]
 });
 
+// `only-single-line`
+test({
+	valid: [
+		{
+			code: outdent`
+				if (test) {
+					a = {
+						multiline: 'in consequent'
+					};
+				} else{
+					a = foo;
+				}
+			`,
+			options: onlySingleLineOptions
+		},
+		{
+			code: outdent`
+				if (test) {
+					a = foo;
+				} else{
+					a = {
+						multiline: 'in alternate'
+					};
+				}
+			`,
+			options: onlySingleLineOptions
+		},
+		{
+			code: outdent`
+				if (
+					test({
+						multiline: 'in test'
+					})
+				) {
+					a = foo;
+				} else{
+					a = bar;
+				}
+			`,
+			options: onlySingleLineOptions
+		},
+		{
+			code: outdent`
+				if (test) {
+					a = foo; b = 1;
+				} else{
+					a = bar;
+				}
+			`,
+			options: onlySingleLineOptions
+		}
+	],
+	invalid: [
+		{
+			code: outdent`
+				if (test) {
+					a = foo;
+				} else {
+					a = bar;
+				}
+			`,
+			output: 'a = test ? foo : bar;',
+			options: onlySingleLineOptions,
+			errors
+		},
+		// Parentheses are not considered part of `Node`
+		{
+			code: outdent`
+				if (
+					(
+						test
+					)
+				) {
+					a = foo;
+				} else {
+					a = bar;
+				}
+			`,
+			output: 'a = (test) ? foo : bar;',
+			options: onlySingleLineOptions,
+			errors
+		},
+		{
+			code: outdent`
+				if (test) {
+					(
+						a = foo
+					);
+				} else {
+					a = bar;
+				}
+			`,
+			output: 'a = test ? foo : bar;',
+			options: onlySingleLineOptions,
+			errors
+		},
+		// Semicolon of `ExpressionStatement` is not considered part of `Node`
+		{
+			code: outdent`
+				if (test) {
+					a = foo
+					;
+				} else {
+					a = bar;
+				}
+			`,
+			output: 'a = test ? foo : bar;',
+			options: onlySingleLineOptions,
+			errors
+		},
+		// `EmptyStatement`s are excluded
+		{
+			code: outdent`
+				if (test) {
+					;;;;;;
+					a = foo;
+					;;;;;;
+				} else {
+					a = bar;
+				}
+			`,
+			output: 'a = test ? foo : bar;',
+			options: onlySingleLineOptions,
+			errors
+		}
+	]
+});
+
 test({
 	valid: [
 		// No `consequent` / `alternate`