diff --git a/CHANGELOG.md b/CHANGELOG.md
index 44314e4fdf4..dad93a2af20 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -495,6 +495,9 @@ Released with 1.0.0-beta.37 code base.
 
 ## [1.7.1]
 
+### Added
+- `transactionPollingInterval` added to web3, contract and method constructor options. defaults to 1 second. (#4584)
+
 ### Fixed
 -  Fix a typo in the documentation for `methods.myMethod.send` (#4599)
 -  Added effectiveGasPrice to TransactionReceipt (#4692)
diff --git a/docs/web3-eth-contract.rst b/docs/web3-eth-contract.rst
index 7490f416638..97b6acfdc2d 100644
--- a/docs/web3-eth-contract.rst
+++ b/docs/web3-eth-contract.rst
@@ -380,6 +380,27 @@ Returns
 
 ------------------------------------------------------------------------------
 
+.. _eth-contract-module-transactionpollinginterval:
+
+transactionPollingInterval
+=====================
+
+.. code-block:: javascript
+
+    web3.eth.Contract.transactionPollingInterval
+    contract.transactionPollingInterval // on contract instance
+
+The ``transactionPollingInterval`` is used over HTTP connections. This option defines the number of seconds between Web3 calls for a receipt which confirms that a transaction was mined by the network.
+
+
+-------
+Returns
+-------
+
+``number``: The current value of transactionPollingInterval (default: 1000ms)
+
+------------------------------------------------------------------------------
+
 .. _eth-contract-module-handlerevert:
 
 handleRevert
diff --git a/docs/web3-eth.rst b/docs/web3-eth.rst
index e5ff527189a..42628007aab 100644
--- a/docs/web3-eth.rst
+++ b/docs/web3-eth.rst
@@ -475,6 +475,26 @@ Example
     web3.eth.transactionPollingTimeout = 1000;
 
 
+------------------------------------------------------------------------------
+
+.. _eth-module-transactionpollinginterval:
+
+transactionPollingInterval
+=====================
+
+.. code-block:: javascript
+
+    web3.eth.transactionPollingInterval
+
+The ``transactionPollingInterval`` is used over HTTP connections. This option defines the number of seconds between Web3 calls for a receipt which confirms that a transaction was mined by the network.
+
+
+-------
+Returns
+-------
+
+``number``: The current value of transactionPollingInterval (default: 1000ms)
+
 ------------------------------------------------------------------------------
 
 .. _web3-module-handlerevert:
diff --git a/packages/web3-core-method/src/index.js b/packages/web3-core-method/src/index.js
index afffc8560a1..e50a286b06e 100644
--- a/packages/web3-core-method/src/index.js
+++ b/packages/web3-core-method/src/index.js
@@ -56,6 +56,7 @@ var Method = function Method(options) {
     this.transactionBlockTimeout = options.transactionBlockTimeout || 50;
     this.transactionConfirmationBlocks = options.transactionConfirmationBlocks || 24;
     this.transactionPollingTimeout = options.transactionPollingTimeout || 750;
+    this.transactionPollingInterval = options.transactionPollingInterval || 1000;
     this.blockHeaderTimeout = options.blockHeaderTimeout || 10; // 10 seconds
     this.defaultCommon = options.defaultCommon;
     this.defaultChain = options.defaultChain;
@@ -553,7 +554,7 @@ Method.prototype._confirmTransaction = function (defer, result, payload) {
         let blockHeaderArrived = false; 
 
         const startInterval = () => {
-            intervalId = setInterval(checkConfirmation.bind(null, existingReceipt, true), 1000);
+            intervalId = setInterval(checkConfirmation.bind(null, existingReceipt, true), method.transactionPollingInterval);
         };
 
         // If provider do not support event subscription use polling
diff --git a/packages/web3-eth-contract/src/index.js b/packages/web3-eth-contract/src/index.js
index 65c028379e5..c04758d22ea 100644
--- a/packages/web3-eth-contract/src/index.js
+++ b/packages/web3-eth-contract/src/index.js
@@ -234,6 +234,19 @@ var Contract = function Contract(jsonInterface, address, options) {
         },
         enumerable: true
     });
+    Object.defineProperty(this, 'transactionPollingInterval', {
+        get: function () {
+            if (_this.options.transactionPollingInterval === 0) {
+                return _this.options.transactionPollingInterval;
+            }
+
+            return _this.options.transactionPollingInterval || this.constructor.transactionPollingInterval;
+        },
+        set: function (val) {
+            _this.options.transactionPollingInterval = val;
+        },
+        enumerable: true
+    });
     Object.defineProperty(this, 'transactionConfirmationBlocks', {
         get: function () {
             if (_this.options.transactionConfirmationBlocks === 0) {
@@ -1045,6 +1058,7 @@ Contract.prototype._executeMethod = function _executeMethod(){
                 transactionBlockTimeout: _this._parent.transactionBlockTimeout,
                 transactionConfirmationBlocks: _this._parent.transactionConfirmationBlocks,
                 transactionPollingTimeout: _this._parent.transactionPollingTimeout,
+                transactionPollingInterval: _this._parent.transactionPollingInterval,
                 defaultCommon: _this._parent.defaultCommon,
                 defaultChain: _this._parent.defaultChain,
                 defaultHardfork: _this._parent.defaultHardfork,
diff --git a/packages/web3-eth/src/index.js b/packages/web3-eth/src/index.js
index a7efae31034..daffdee042b 100644
--- a/packages/web3-eth/src/index.js
+++ b/packages/web3-eth/src/index.js
@@ -100,6 +100,7 @@ var Eth = function Eth() {
     var transactionBlockTimeout = 50;
     var transactionConfirmationBlocks = 24;
     var transactionPollingTimeout = 750;
+    var transactionPollingInterval = 1000;
     var blockHeaderTimeout = 10; // 10 seconds
     var maxListenersWarningThreshold = 100;
     var defaultChain, defaultHardfork, defaultCommon;
@@ -189,6 +190,23 @@ var Eth = function Eth() {
         },
         enumerable: true
     });
+    Object.defineProperty(this, 'transactionPollingInterval', {
+        get: function () {
+            return transactionPollingInterval;
+        },
+        set: function (val) {
+            transactionPollingInterval = val;
+
+            // also set on the Contract object
+            _this.Contract.transactionPollingInterval = transactionPollingInterval;
+
+            // update defaultBlock
+            methods.forEach(function(method) {
+                method.transactionPollingInterval = transactionPollingInterval;
+            });
+        },
+        enumerable: true
+    });
     Object.defineProperty(this, 'transactionConfirmationBlocks', {
         get: function () {
             return transactionConfirmationBlocks;
@@ -351,6 +369,7 @@ var Eth = function Eth() {
     this.Contract.transactionBlockTimeout = this.transactionBlockTimeout;
     this.Contract.transactionConfirmationBlocks = this.transactionConfirmationBlocks;
     this.Contract.transactionPollingTimeout = this.transactionPollingTimeout;
+    this.Contract.transactionPollingInterval = this.transactionPollingInterval;
     this.Contract.blockHeaderTimeout = this.blockHeaderTimeout;
     this.Contract.handleRevert = this.handleRevert;
     this.Contract._requestManager = this._requestManager;
@@ -680,6 +699,7 @@ var Eth = function Eth() {
         method.transactionBlockTimeout = _this.transactionBlockTimeout;
         method.transactionConfirmationBlocks = _this.transactionConfirmationBlocks;
         method.transactionPollingTimeout = _this.transactionPollingTimeout;
+        method.transactionPollingInterval = _this.transactionPollingInterval;
         method.handleRevert = _this.handleRevert;
     });
 
diff --git a/test/contract.js b/test/contract.js
index 3c7352d4383..9a7fa16894d 100644
--- a/test/contract.js
+++ b/test/contract.js
@@ -356,6 +356,21 @@ var runTests = function(contractFactory) {
 
             assert.equal(contract.options.transactionPollingTimeout, 0);
         });
+        it('should define the transactionPollingInterval object property if passed over the options', function() {
+            var provider = new FakeIpcProvider();
+            var contract = contractFactory(abi, address, {transactionPollingInterval: 0}, provider);
+
+            assert.equal(contract.transactionPollingInterval, 0);
+            assert.equal(contract.options.transactionPollingInterval, 0);
+        });
+        it('should update the transactionPollingInterval property in the options object', function() {
+            var provider = new FakeIpcProvider();
+            var contract = contractFactory(abi, address, {transactionPollingInterval: 1}, provider);
+
+            contract.transactionPollingInterval = 0;
+
+            assert.equal(contract.options.transactionPollingInterval, 0);
+        });
         it('should define the transactionConfirmationBlocks object property if passed over the options', function() {
             var provider = new FakeIpcProvider();
             var contract = contractFactory(abi, address, {transactionConfirmationBlocks: 0}, provider);
diff --git a/test/eth.transactionPollingInterval.js b/test/eth.transactionPollingInterval.js
new file mode 100644
index 00000000000..06505e598f8
--- /dev/null
+++ b/test/eth.transactionPollingInterval.js
@@ -0,0 +1,25 @@
+var chai = require('chai');
+var assert = chai.assert;
+var Eth = require('../packages/web3-eth');
+
+var eth = new Eth();
+
+var setValue = 123;
+
+describe('web3.eth', function () {
+    describe('transactionPollingInterval', function () {
+        it('should check if transactionPollingInterval is set to proper value', function () {
+            assert.equal(eth.transactionPollingInterval, 1000);
+            assert.equal(eth.Contract.transactionPollingInterval, 1000);
+            assert.equal(eth.getCode.method.transactionPollingInterval, 1000);
+        });
+        it('should set transactionPollingInterval for all sub packages is set to proper value, if Eth package is changed', function () {
+            eth.transactionPollingInterval = setValue;
+
+            assert.equal(eth.transactionPollingInterval, setValue);
+            assert.equal(eth.Contract.transactionPollingInterval, setValue);
+            assert.equal(eth.getCode.method.transactionPollingInterval, setValue);
+        });
+    });
+});
+