diff --git a/futures-util/src/stream/mod.rs b/futures-util/src/stream/mod.rs
index 789e1ad22..d2885ac87 100644
--- a/futures-util/src/stream/mod.rs
+++ b/futures-util/src/stream/mod.rs
@@ -19,7 +19,7 @@ pub use futures_core::stream::{FusedStream, Stream, TryStream};
 mod stream;
 pub use self::stream::{
     All, Any, Chain, Collect, Concat, Count, Cycle, Enumerate, Filter, FilterMap, FlatMap, Flatten,
-    Fold, ForEach, Fuse, Inspect, Map, Next, NextIf, NextIfEq, Peek, PeekMut, Peekable, Scan,
+    Fold, ForEach, Fuse, Inspect, Last, Map, Next, NextIf, NextIfEq, Peek, PeekMut, Peekable, Scan,
     SelectNextSome, Skip, SkipWhile, StreamExt, StreamFuture, Take, TakeUntil, TakeWhile, Then,
     TryFold, TryForEach, Unzip, Zip,
 };
diff --git a/futures-util/src/stream/stream/last.rs b/futures-util/src/stream/stream/last.rs
new file mode 100644
index 000000000..2473ae3ee
--- /dev/null
+++ b/futures-util/src/stream/stream/last.rs
@@ -0,0 +1,70 @@
+use core::fmt;
+use core::pin::Pin;
+use futures_core::future::{FusedFuture, Future};
+use futures_core::ready;
+use futures_core::stream::{FusedStream, Stream};
+use futures_core::task::{Context, Poll};
+use pin_project_lite::pin_project;
+
+pin_project! {
+    /// Future for the [`last`](super::StreamExt::last) method.
+    #[must_use = "futures do nothing unless you `.await` or poll them"]
+    pub struct Last<St: Stream> {
+        #[pin]
+        stream: St,
+        last: Option<St::Item>,
+        done: bool,
+    }
+}
+
+impl<St> fmt::Debug for Last<St>
+where
+    St: Stream + fmt::Debug,
+{
+    fn fmt(&self, f: &mut fmt::Formatter<'_>) -> fmt::Result {
+        f.debug_struct("Last").field("stream", &self.stream).finish()
+    }
+}
+
+impl<St> Last<St>
+where
+    St: Stream,
+{
+    pub(super) fn new(stream: St) -> Self {
+        Self { stream, last: None, done: false }
+    }
+}
+
+impl<St> FusedFuture for Last<St>
+where
+    St: FusedStream,
+{
+    fn is_terminated(&self) -> bool {
+        self.done
+    }
+}
+
+impl<St> Future for Last<St>
+where
+    St: Stream,
+{
+    type Output = Option<St::Item>;
+
+    fn poll(self: Pin<&mut Self>, cx: &mut Context<'_>) -> Poll<Self::Output> {
+        let mut this = self.project();
+
+        if *this.done {
+            panic!("Last polled after completion");
+        }
+
+        Poll::Ready(loop {
+            match ready!(this.stream.as_mut().poll_next(cx)) {
+                Some(item) => *this.last = Some(item),
+                None => {
+                    *this.done = true;
+                    break this.last.take();
+                }
+            }
+        })
+    }
+}
diff --git a/futures-util/src/stream/stream/mod.rs b/futures-util/src/stream/stream/mod.rs
index ee30f8da6..5b5df2c5a 100644
--- a/futures-util/src/stream/stream/mod.rs
+++ b/futures-util/src/stream/stream/mod.rs
@@ -68,6 +68,9 @@ pub use self::any::Any;
 mod all;
 pub use self::all::All;
 
+mod last;
+pub use self::last::Last;
+
 #[cfg(feature = "sink")]
 mod forward;
 
@@ -716,6 +719,32 @@ pub trait StreamExt: Stream {
         assert_future::<bool, _>(All::new(self, f))
     }
 
+    /// Returns the last element of the stream, or `None` if the stream is empty.
+    ///
+    /// This function will consume the entire stream to return the last item.
+    ///
+    /// # Examples
+    ///
+    /// ```
+    /// # futures::executor::block_on(async {
+    /// use futures::stream::{self, StreamExt};
+    ///
+    /// let number_stream = stream::iter(1..=5);
+    /// let last_number = number_stream.last().await;
+    /// assert_eq!(last_number, Some(5));
+    ///
+    /// let empty_stream = stream::iter(Vec::<i32>::new());
+    /// let last_number = empty_stream.last().await;
+    /// assert_eq!(last_number, None);
+    /// # });
+    /// ```
+    fn last(self) -> Last<Self>
+    where
+        Self: Sized,
+    {
+        assert_future::<Option<Self::Item>, _>(Last::new(self))
+    }
+
     /// Flattens a stream of streams into just one continuous stream.
     ///
     /// # Examples
diff --git a/futures/tests/stream.rs b/futures/tests/stream.rs
index db74b9658..6008fe1eb 100644
--- a/futures/tests/stream.rs
+++ b/futures/tests/stream.rs
@@ -592,3 +592,21 @@ fn any() {
         assert!(!any);
     });
 }
+
+#[test]
+fn last() {
+    block_on(async {
+        let empty: [u8; 0] = [];
+        let st = stream::iter(empty);
+        let last = st.last().await;
+        assert_eq!(last, None);
+
+        let st = stream::iter([1]);
+        let last = st.last().await;
+        assert_eq!(last, Some(1));
+
+        let st = stream::iter([1, 2, 3, 4, 5]);
+        let last = st.last().await;
+        assert_eq!(last, Some(5));
+    });
+}