diff --git a/tokio-stream/src/stream_ext.rs b/tokio-stream/src/stream_ext.rs
index 166c31a61c0..05be5ab2f71 100644
--- a/tokio-stream/src/stream_ext.rs
+++ b/tokio-stream/src/stream_ext.rs
@@ -55,6 +55,9 @@ use then::Then;
 mod try_next;
 use try_next::TryNext;
 
+mod peekable;
+use peekable::Peekable;
+
 cfg_time! {
     pub(crate) mod timeout;
     pub(crate) mod timeout_repeating;
@@ -1176,6 +1179,31 @@ pub trait StreamExt: Stream {
         assert!(max_size > 0, "`max_size` must be non-zero.");
         ChunksTimeout::new(self, max_size, duration)
     }
+
+    /// Turns the stream into a peekable stream, whose first element can be peeked at without being
+    /// consumed.
+    /// ```rust
+    /// use tokio_stream::{self as stream, StreamExt};
+    ///
+    /// #[tokio::main]
+    /// # async fn _unused() {}
+    /// # #[tokio::main(flavor = "current_thread", start_paused = true)]
+    /// async fn main() {
+    ///     let iter = vec![1, 2, 3, 4].into_iter();
+    ///     let mut stream = stream::iter(iter).peekable();
+    ///
+    ///     assert_eq!(*stream.peek().await.unwrap(), 1);
+    ///     assert_eq!(*stream.peek().await.unwrap(), 1);
+    ///     assert_eq!(stream.next().await.unwrap(), 1);
+    ///     assert_eq!(*stream.peek().await.unwrap(), 2);
+    /// }
+    /// ```
+    fn peekable(self) -> Peekable<Self>
+    where
+        Self: Sized,
+    {
+        Peekable::new(self)
+    }
 }
 
 impl<St: ?Sized> StreamExt for St where St: Stream {}
diff --git a/tokio-stream/src/stream_ext/peekable.rs b/tokio-stream/src/stream_ext/peekable.rs
new file mode 100644
index 00000000000..7545ee409f0
--- /dev/null
+++ b/tokio-stream/src/stream_ext/peekable.rs
@@ -0,0 +1,50 @@
+use std::pin::Pin;
+use std::task::{Context, Poll};
+
+use futures_core::Stream;
+use pin_project_lite::pin_project;
+
+use crate::stream_ext::Fuse;
+use crate::StreamExt;
+
+pin_project! {
+    /// Stream returned by the [`chain`](super::StreamExt::peekable) method.
+    pub struct Peekable<T: Stream> {
+        peek: Option<T::Item>,
+        #[pin]
+        stream: Fuse<T>,
+    }
+}
+
+impl<T: Stream> Peekable<T> {
+    pub(crate) fn new(stream: T) -> Self {
+        let stream = stream.fuse();
+        Self { peek: None, stream }
+    }
+
+    /// Peek at the next item in the stream.
+    pub async fn peek(&mut self) -> Option<&T::Item>
+    where
+        T: Unpin,
+    {
+        if let Some(ref it) = self.peek {
+            Some(it)
+        } else {
+            self.peek = self.next().await;
+            self.peek.as_ref()
+        }
+    }
+}
+
+impl<T: Stream> Stream for Peekable<T> {
+    type Item = T::Item;
+
+    fn poll_next(self: Pin<&mut Self>, cx: &mut Context<'_>) -> Poll<Option<Self::Item>> {
+        let this = self.project();
+        if let Some(it) = this.peek.take() {
+            Poll::Ready(Some(it))
+        } else {
+            this.stream.poll_next(cx)
+        }
+    }
+}