diff --git a/benches/thread_notify.rs b/benches/thread_notify.rs
new file mode 100644
index 0000000000..92932353d8
--- /dev/null
+++ b/benches/thread_notify.rs
@@ -0,0 +1,114 @@
+#![feature(test)]
+
+extern crate futures;
+extern crate test;
+
+use futures::{Future, Poll, Async};
+use futures::task::{self, Task};
+
+use test::Bencher;
+
+#[bench]
+fn thread_yield_single_thread_one_wait(b: &mut Bencher) {
+    const NUM: usize = 10_000;
+
+    struct Yield {
+        rem: usize,
+    }
+
+    impl Future for Yield {
+        type Item = ();
+        type Error = ();
+
+        fn poll(&mut self) -> Poll<(), ()> {
+            if self.rem == 0 {
+                Ok(Async::Ready(()))
+            } else {
+                self.rem -= 1;
+                task::current().notify();
+                Ok(Async::NotReady)
+            }
+        }
+    }
+
+    b.iter(|| {
+        let y = Yield { rem: NUM };
+        y.wait().unwrap();
+    });
+}
+
+#[bench]
+fn thread_yield_single_thread_many_wait(b: &mut Bencher) {
+    const NUM: usize = 10_000;
+
+    struct Yield {
+        rem: usize,
+    }
+
+    impl Future for Yield {
+        type Item = ();
+        type Error = ();
+
+        fn poll(&mut self) -> Poll<(), ()> {
+            if self.rem == 0 {
+                Ok(Async::Ready(()))
+            } else {
+                self.rem -= 1;
+                task::current().notify();
+                Ok(Async::NotReady)
+            }
+        }
+    }
+
+    b.iter(|| {
+        for _ in 0..NUM {
+            let y = Yield { rem: 1 };
+            y.wait().unwrap();
+        }
+    });
+}
+
+#[bench]
+fn thread_yield_multi_thread(b: &mut Bencher) {
+    use std::sync::mpsc;
+    use std::thread;
+
+    const NUM: usize = 1_000;
+
+    let (tx, rx) = mpsc::sync_channel::<Task>(10_000);
+
+    struct Yield {
+        rem: usize,
+        tx: mpsc::SyncSender<Task>,
+    }
+
+    impl Future for Yield {
+        type Item = ();
+        type Error = ();
+
+        fn poll(&mut self) -> Poll<(), ()> {
+            if self.rem == 0 {
+                Ok(Async::Ready(()))
+            } else {
+                self.rem -= 1;
+                self.tx.send(task::current()).unwrap();
+                Ok(Async::NotReady)
+            }
+        }
+    }
+
+    thread::spawn(move || {
+        while let Ok(task) = rx.recv() {
+            task.notify();
+        }
+    });
+
+    b.iter(move || {
+        let y = Yield {
+            rem: NUM,
+            tx: tx.clone(),
+        };
+
+        y.wait().unwrap();
+    });
+}
diff --git a/src/task_impl/std/mod.rs b/src/task_impl/std/mod.rs
index af9fee1008..108c4e575e 100644
--- a/src/task_impl/std/mod.rs
+++ b/src/task_impl/std/mod.rs
@@ -5,9 +5,8 @@ use std::fmt;
 use std::marker::PhantomData;
 use std::mem;
 use std::ptr;
-use std::sync::{Arc, Once, ONCE_INIT};
-use std::sync::atomic::{AtomicBool, Ordering};
-use std::thread;
+use std::sync::{Arc, Mutex, Condvar, Once, ONCE_INIT};
+use std::sync::atomic::{AtomicUsize, Ordering};
 
 use {Future, Stream, Sink, Poll, Async, StartSend, AsyncSink};
 use super::core;
@@ -238,14 +237,15 @@ impl<F: Future> Spawn<F> {
     /// to complete. When a future cannot make progress it will use
     /// `thread::park` to block the current thread.
     pub fn wait_future(&mut self) -> Result<F::Item, F::Error> {
-        let unpark = Arc::new(ThreadNotify::new(thread::current()));
+        ThreadNotify::with_current(|notify| {
 
-        loop {
-            match self.poll_future_notify(&unpark, 0)? {
-                Async::NotReady => unpark.park(),
-                Async::Ready(e) => return Ok(e),
+            loop {
+                match self.poll_future_notify(notify, 0)? {
+                    Async::NotReady => notify.park(),
+                    Async::Ready(e) => return Ok(e),
+                }
             }
-        }
+        })
     }
 
     /// A specialized function to request running a future to completion on the
@@ -296,15 +296,17 @@ impl<S: Stream> Spawn<S> {
     /// Like `wait_future`, except only waits for the next element to arrive on
     /// the underlying stream.
     pub fn wait_stream(&mut self) -> Option<Result<S::Item, S::Error>> {
-        let unpark = Arc::new(ThreadNotify::new(thread::current()));
-        loop {
-            match self.poll_stream_notify(&unpark, 0) {
-                Ok(Async::NotReady) => unpark.park(),
-                Ok(Async::Ready(Some(e))) => return Some(Ok(e)),
-                Ok(Async::Ready(None)) => return None,
-                Err(e) => return Some(Err(e)),
+        ThreadNotify::with_current(|notify| {
+
+            loop {
+                match self.poll_stream_notify(notify, 0) {
+                    Ok(Async::NotReady) => notify.park(),
+                    Ok(Async::Ready(Some(e))) => return Some(Ok(e)),
+                    Ok(Async::Ready(None)) => return None,
+                    Err(e) => return Some(Err(e)),
+                }
             }
-        }
+        })
     }
 }
 
@@ -340,14 +342,16 @@ impl<S: Sink> Spawn<S> {
     /// be blocked until it's able to send the value.
     pub fn wait_send(&mut self, mut value: S::SinkItem)
                      -> Result<(), S::SinkError> {
-        let notify = Arc::new(ThreadNotify::new(thread::current()));
-        loop {
-            value = match self.start_send_notify(value, &notify, 0)? {
-                AsyncSink::NotReady(v) => v,
-                AsyncSink::Ready => return Ok(()),
-            };
-            notify.park();
-        }
+        ThreadNotify::with_current(|notify| {
+
+            loop {
+                value = match self.start_send_notify(value, notify, 0)? {
+                    AsyncSink::NotReady(v) => v,
+                    AsyncSink::Ready => return Ok(()),
+                };
+                notify.park();
+            }
+        })
     }
 
     /// Blocks the current thread until it's able to flush this sink.
@@ -359,13 +363,15 @@ impl<S: Sink> Spawn<S> {
     /// The thread will be blocked until `poll_complete` returns that it's
     /// ready.
     pub fn wait_flush(&mut self) -> Result<(), S::SinkError> {
-        let notify = Arc::new(ThreadNotify::new(thread::current()));
-        loop {
-            if self.poll_flush_notify(&notify, 0)?.is_ready() {
-                return Ok(())
+        ThreadNotify::with_current(|notify| {
+
+            loop {
+                if self.poll_flush_notify(notify, 0)?.is_ready() {
+                    return Ok(())
+                }
+                notify.park();
             }
-            notify.park();
-        }
+        })
     }
 
     /// Blocks the current thread until it's able to close this sink.
@@ -374,13 +380,15 @@ impl<S: Sink> Spawn<S> {
     /// is not ready to be close yet, then the current thread will be blocked
     /// until it's closed.
     pub fn wait_close(&mut self) -> Result<(), S::SinkError> {
-        let notify = Arc::new(ThreadNotify::new(thread::current()));
-        loop {
-            if self.close_notify(&notify, 0)?.is_ready() {
-                return Ok(())
+        ThreadNotify::with_current(|notify| {
+
+            loop {
+                if self.close_notify(notify, 0)?.is_ready() {
+                    return Ok(())
+                }
+                notify.park();
             }
-            notify.park();
-        }
+        })
     }
 }
 
@@ -477,29 +485,88 @@ impl Unpark for RunInner {
 // ===== ThreadNotify =====
 
 struct ThreadNotify {
-    thread: thread::Thread,
-    ready: AtomicBool,
+    state: AtomicUsize,
+    mutex: Mutex<()>,
+    condvar: Condvar,
+}
+
+const IDLE: usize = 0;
+const NOTIFY: usize = 1;
+const SLEEP: usize = 2;
+
+thread_local! {
+    static CURRENT_THREAD_NOTIFY: Arc<ThreadNotify> = Arc::new(ThreadNotify {
+        state: AtomicUsize::new(IDLE),
+        mutex: Mutex::new(()),
+        condvar: Condvar::new(),
+    });
 }
 
 impl ThreadNotify {
-    fn new(thread: thread::Thread) -> ThreadNotify {
-        ThreadNotify {
-            thread: thread,
-            ready: AtomicBool::new(false),
-        }
+    fn with_current<F, R>(f: F) -> R
+        where F: FnOnce(&Arc<ThreadNotify>) -> R,
+    {
+        CURRENT_THREAD_NOTIFY.with(|notify| f(notify))
     }
 
     fn park(&self) {
-        if !self.ready.swap(false, Ordering::SeqCst) {
-            thread::park();
+        // If currently notified, then we skip sleeping. This is checked outside
+        // of the lock to avoid acquiring a mutex if not necessary.
+        match self.state.compare_and_swap(NOTIFY, IDLE, Ordering::SeqCst) {
+            NOTIFY => return,
+            IDLE => {},
+            _ => unreachable!(),
+        }
+
+        // The state is currently idle, so obtain the lock and then try to
+        // transition to a sleeping state.
+        let mut m = self.mutex.lock().unwrap();
+
+        // Transition to sleeping
+        match self.state.compare_and_swap(IDLE, SLEEP, Ordering::SeqCst) {
+            NOTIFY => {
+                // Notified before we could sleep, consume the notification and
+                // exit
+                self.state.store(IDLE, Ordering::SeqCst);
+                return;
+            }
+            IDLE => {},
+            _ => unreachable!(),
+        }
+
+        // Loop until we've been notified
+        loop {
+            m = self.condvar.wait(m).unwrap();
+
+            // Transition back to idle, loop otherwise
+            if NOTIFY == self.state.compare_and_swap(NOTIFY, IDLE, Ordering::SeqCst) {
+                return;
+            }
         }
     }
 }
 
 impl Notify for ThreadNotify {
     fn notify(&self, _unpark_id: usize) {
-        self.ready.store(true, Ordering::SeqCst);
-        self.thread.unpark()
+        // First, try transitioning from IDLE -> NOTIFY, this does not require a
+        // lock.
+        match self.state.compare_and_swap(IDLE, NOTIFY, Ordering::SeqCst) {
+            IDLE | NOTIFY => return,
+            SLEEP => {}
+            _ => unreachable!(),
+        }
+
+        // The other half is sleeping, this requires a lock
+        let _m = self.mutex.lock().unwrap();
+
+        // Transition from SLEEP -> NOTIFY
+        match self.state.compare_and_swap(SLEEP, NOTIFY, Ordering::SeqCst) {
+            SLEEP => {}
+            _ => return,
+        }
+
+        // Wakeup the sleeper
+        self.condvar.notify_one();
     }
 }