diff --git a/index.d.ts b/index.d.ts
index 7ade21dfc..34dd2b549 100644
--- a/index.d.ts
+++ b/index.d.ts
@@ -16,6 +16,7 @@ export {Opaque} from './source/opaque';
 export {SetOptional} from './source/set-optional';
 export {SetRequired} from './source/set-required';
 export {PromiseValue} from './source/promise-value';
+export {AsyncReturnType} from './source/async-return-type';
 
 // Miscellaneous
 export {PackageJson} from './source/package-json';
diff --git a/readme.md b/readme.md
index c82ea310f..277a8d040 100644
--- a/readme.md
+++ b/readme.md
@@ -74,7 +74,8 @@ Click the type names for complete docs.
 - [`Opaque`](source/opaque.d.ts) - Create an [opaque type](https://codemix.com/opaque-types-in-javascript/).
 - [`SetOptional`](source/set-optional.d.ts) - Create a type that makes the given keys optional.
 - [`SetRequired`](source/set-required.d.ts) - Create a type that makes the given keys required.
-- [`PromiseValue`](source/promise-value.d.ts) - Returns the type that is wrapped inside a `Promise` type.
+- [`PromiseValue`](source/promise-value.d.ts) - Returns the type that is wrapped inside a `Promise`.
+- [`AsyncReturnType`](source/async-return-type.d.ts) - Unwrap the return type of a function that returns a `Promise`.
 
 ### Miscellaneous
 
diff --git a/source/async-return-type.d.ts b/source/async-return-type.d.ts
new file mode 100644
index 000000000..86d7e717b
--- /dev/null
+++ b/source/async-return-type.d.ts
@@ -0,0 +1,23 @@
+import {PromiseValue} from './promise-value';
+
+type AsyncFunction = (...args: unknown[]) => Promise<unknown>;
+
+/**
+Unwrap the return type of a function that returns a `Promise`.
+
+There has been [discussion](https://github.com/microsoft/TypeScript/pull/35998) about implementing this type in TypeScript.
+
+@example
+```ts
+import {AsyncReturnType} from 'type-fest';
+import {asyncFunction} from 'api';
+
+// This type resolves to the unwrapped return type of `asyncFunction`.
+type Value = AsyncReturnType<typeof asyncFunction>;
+
+async function doSomething(value: Value) {}
+
+asyncFunction().then(value => doSomething(value));
+```
+*/
+export type AsyncReturnType<Target extends AsyncFunction> = PromiseValue<ReturnType<Target>>;
diff --git a/test-d/async-return-type.ts b/test-d/async-return-type.ts
new file mode 100644
index 000000000..11555eeaf
--- /dev/null
+++ b/test-d/async-return-type.ts
@@ -0,0 +1,13 @@
+import {expectType, expectError} from 'tsd';
+import {AsyncReturnType} from '..';
+
+async function asyncFunction(): Promise<number> {
+	return Promise.resolve(2);
+}
+
+type Value = AsyncReturnType<typeof asyncFunction>;
+
+asyncFunction().then(value => {
+	expectType<Value>(value);
+	expectError<string>(value);
+});