diff --git a/tokio/src/io/mod.rs b/tokio/src/io/mod.rs
index 9e0e06319..37da942ff 100644
--- a/tokio/src/io/mod.rs
+++ b/tokio/src/io/mod.rs
@@ -236,6 +236,7 @@ cfg_io_util! {
 
     cfg_stream! {
         pub use util::{stream_reader, StreamReader};
+        pub use util::{reader_stream, ReaderStream};
     }
 }
 
diff --git a/tokio/src/io/util/mod.rs b/tokio/src/io/util/mod.rs
index 609ff2386..782a02a8f 100644
--- a/tokio/src/io/util/mod.rs
+++ b/tokio/src/io/util/mod.rs
@@ -66,6 +66,9 @@ cfg_io_util! {
     cfg_stream! {
         mod stream_reader;
         pub use stream_reader::{stream_reader, StreamReader};
+
+        mod reader_stream;
+        pub use reader_stream::{reader_stream, ReaderStream};
     }
 
     mod take;
diff --git a/tokio/src/io/util/reader_stream.rs b/tokio/src/io/util/reader_stream.rs
new file mode 100644
index 000000000..51651cede
--- /dev/null
+++ b/tokio/src/io/util/reader_stream.rs
@@ -0,0 +1,105 @@
+use crate::io::AsyncRead;
+use crate::stream::Stream;
+use bytes::{Bytes, BytesMut};
+use pin_project_lite::pin_project;
+use std::pin::Pin;
+use std::task::{Context, Poll};
+
+pin_project! {
+    /// Convert an [`AsyncRead`] implementor into a
+    /// [`Stream`] of Result<[`Bytes`], std::io::Error>.
+    /// After first error it will stop.
+    /// Additionally, this stream is fused: after it returns None at some
+    /// moment, it is guaranteed that further `next()`, `poll_next()` and
+    /// similar functions will instantly return None.
+    ///
+    /// This type can be created using the [`reader_stream`] function
+    ///
+    /// [`AsyncRead`]: crate::io::AsyncRead
+    /// [`Stream`]: crate::stream::Stream
+    /// [`Bytes`]: bytes::Bytes
+    /// [`reader_stream`]: crate::io::reader_stream
+    #[derive(Debug)]
+    #[cfg_attr(docsrs, doc(cfg(feature = "stream")))]
+    #[cfg_attr(docsrs, doc(cfg(feature = "io-util")))]
+    pub struct ReaderStream<R> {
+        // Reader itself.
+        // None if we had error reading from the `reader` in the past.
+        #[pin]
+        reader: Option<R>,
+        // Working buffer, used to optimize allocations.
+        // # Capacity behavior
+        // Initially `buf` is empty. Also it's getting smaller and smaller
+        // during polls (because its chunks are returned to stream user).
+        // But when it's capacity reaches 0, it is growed.
+        buf: BytesMut,
+    }
+}
+
+/// Convert an [`AsyncRead`] implementor into a
+/// [`Stream`] of Result<[`Bytes`], std::io::Error>.
+///
+/// # Example
+///
+/// ```
+/// # #[tokio::main]
+/// # async fn main() -> std::io::Result<()> {
+/// use tokio::stream::StreamExt;
+///
+/// let data: &[u8] = b"hello, world!";
+/// let mut stream = tokio::io::reader_stream(data);
+/// let mut stream_contents = Vec::new();
+/// while let Some(chunk) = stream.next().await {
+///    stream_contents.extend_from_slice(chunk?.as_ref());
+/// }
+/// assert_eq!(stream_contents, data);
+/// # Ok(())
+/// # }
+/// ```
+///
+/// [`AsyncRead`]: crate::io::AsyncRead
+/// [`Stream`]: crate::stream::Stream
+/// [`Bytes`]: bytes::Bytes
+pub fn reader_stream<R>(reader: R) -> ReaderStream<R>
+where
+    R: AsyncRead,
+{
+    ReaderStream {
+        reader: Some(reader),
+        buf: BytesMut::new(),
+    }
+}
+
+const CAPACITY: usize = 4096;
+
+impl<R> Stream for ReaderStream<R>
+where
+    R: AsyncRead,
+{
+    type Item = std::io::Result<Bytes>;
+    fn poll_next(mut self: Pin<&mut Self>, cx: &mut Context<'_>) -> Poll<Option<Self::Item>> {
+        let mut this = self.as_mut().project();
+        let reader = match this.reader.as_pin_mut() {
+            Some(r) => r,
+            None => return Poll::Ready(None),
+        };
+        if this.buf.capacity() == 0 {
+            this.buf.reserve(CAPACITY);
+        }
+        match reader.poll_read_buf(cx, &mut this.buf) {
+            Poll::Pending => Poll::Pending,
+            Poll::Ready(Err(err)) => {
+                self.project().reader.set(None);
+                Poll::Ready(Some(Err(err)))
+            }
+            Poll::Ready(Ok(0)) => {
+                self.project().reader.set(None);
+                Poll::Ready(None)
+            }
+            Poll::Ready(Ok(_)) => {
+                let chunk = this.buf.split();
+                Poll::Ready(Some(Ok(chunk.freeze())))
+            }
+        }
+    }
+}
diff --git a/tokio/tests/io_reader_stream.rs b/tokio/tests/io_reader_stream.rs
new file mode 100644
index 000000000..6546a0ef4
--- /dev/null
+++ b/tokio/tests/io_reader_stream.rs
@@ -0,0 +1,64 @@
+#![warn(rust_2018_idioms)]
+#![cfg(feature = "full")]
+
+use std::pin::Pin;
+use std::task::{Context, Poll};
+use tokio::io::AsyncRead;
+use tokio::stream::StreamExt;
+
+/// produces at most `remaining` zeros, that returns error.
+/// each time it reads at most 31 byte.
+struct Reader {
+    remaining: usize,
+}
+
+impl AsyncRead for Reader {
+    fn poll_read(
+        self: Pin<&mut Self>,
+        _cx: &mut Context<'_>,
+        buf: &mut [u8],
+    ) -> Poll<std::io::Result<usize>> {
+        let this = Pin::into_inner(self);
+        assert_ne!(buf.len(), 0);
+        if this.remaining > 0 {
+            let n = std::cmp::min(this.remaining, buf.len());
+            let n = std::cmp::min(n, 31);
+            for x in &mut buf[..n] {
+                *x = 0;
+            }
+            this.remaining -= n;
+            Poll::Ready(Ok(n))
+        } else {
+            Poll::Ready(Err(std::io::Error::from_raw_os_error(22)))
+        }
+    }
+}
+
+#[tokio::test]
+async fn correct_behavior_on_errors() {
+    let reader = Reader { remaining: 8000 };
+    let mut stream = tokio::io::reader_stream(reader);
+    let mut zeros_received = 0;
+    let mut had_error = false;
+    loop {
+        let item = stream.next().await.unwrap();
+        match item {
+            Ok(bytes) => {
+                let bytes = &*bytes;
+                for byte in bytes {
+                    assert_eq!(*byte, 0);
+                    zeros_received += 1;
+                }
+            }
+            Err(_) => {
+                assert!(!had_error);
+                had_error = true;
+                break;
+            }
+        }
+    }
+
+    assert!(had_error);
+    assert_eq!(zeros_received, 8000);
+    assert!(stream.next().await.is_none());
+}