diff --git a/core-tests/shared/src/test/scala/zio/ZIOSpec.scala b/core-tests/shared/src/test/scala/zio/ZIOSpec.scala
index 0c123750dac4..1d3e7d5dc6c9 100644
--- a/core-tests/shared/src/test/scala/zio/ZIOSpec.scala
+++ b/core-tests/shared/src/test/scala/zio/ZIOSpec.scala
@@ -148,7 +148,7 @@ object ZIOSpec extends ZIOBaseSpec {
           d     <- cache
         } yield assert(a)(equalTo(b)) && assert(b)(not(equalTo(c))) && assert(c)(equalTo(d))
       },
-      testM("correctly handled an infinite duration time to live") {
+      testM("correctly handles an infinite duration time to live") {
         for {
           ref            <- Ref.make(0)
           getAndIncrement = ref.modify(curr => (curr, curr + 1))
@@ -159,6 +159,28 @@ object ZIOSpec extends ZIOBaseSpec {
         } yield assert((a, b, c))(equalTo((0, 0, 0)))
       }
     ),
+    suite("cachedWith")(
+      testM("returns new instances after duration") {
+        def incrementAndGet(ref: Ref[Int]): UIO[Int] = ref.updateAndGet(_ + 1)
+        for {
+          ref                 <- Ref.make(0)
+          tuple               <- incrementAndGet(ref).cachedInvalidate(60.minutes)
+          (cached, invalidate) = tuple
+          a                   <- cached
+          _                   <- TestClock.adjust(59.minutes)
+          b                   <- cached
+          _                   <- invalidate
+          c                   <- cached
+          _                   <- TestClock.adjust(1.minute)
+          d                   <- cached
+          _                   <- TestClock.adjust(59.minutes)
+          e                   <- cached
+        } yield assert(a)(equalTo(b)) &&
+          assert(b)(not(equalTo(c))) &&
+          assert(c)(equalTo(d)) &&
+          assert(d)(not(equalTo(e)))
+      }
+    ),
     suite("catchAllDefect")(
       testM("recovers from all defects") {
         val s   = "division by zero"
diff --git a/core/shared/src/main/scala/zio/ZIO.scala b/core/shared/src/main/scala/zio/ZIO.scala
index 0953df13427a..3d7f1c41ab22 100644
--- a/core/shared/src/main/scala/zio/ZIO.scala
+++ b/core/shared/src/main/scala/zio/ZIO.scala
@@ -285,7 +285,16 @@ sealed trait ZIO[-R, +E, +A] extends Serializable with ZIOPlatformSpecific[R, E,
    * Returns an effect that, if evaluated, will return the cached result of
    * this effect. Cached results will expire after `timeToLive` duration.
    */
-  final def cached(timeToLive: Duration): ZIO[R with Clock, Nothing, IO[E, A]] = {
+  final def cached(timeToLive: Duration): ZIO[R with Clock, Nothing, IO[E, A]] =
+    cachedInvalidate(timeToLive).map(_._1)
+
+  /**
+   * Returns an effect that, if evaluated, will return the cached result of
+   * this effect. Cached results will expire after `timeToLive` duration. In
+   * addition, returns an effect that can be used to invalidate the current
+   * cached value before the `timeToLive` duration expires.
+   */
+  final def cachedInvalidate(timeToLive: Duration): ZIO[R with Clock, Nothing, (IO[E, A], UIO[Unit])] = {
 
     def compute(start: Long): ZIO[R with Clock, Nothing, Option[(Long, Promise[E, A])]] =
       for {
@@ -303,10 +312,13 @@ sealed trait ZIO[-R, +E, +A] extends Serializable with ZIOPlatformSpecific[R, E,
         }
       }
 
+    def invalidate(cache: RefM[Option[(Long, Promise[E, A])]]): UIO[Unit] =
+      cache.set(None)
+
     for {
       r     <- ZIO.environment[R with Clock]
       cache <- RefM.make[Option[(Long, Promise[E, A])]](None)
-    } yield get(cache).provide(r)
+    } yield (get(cache).provide(r), invalidate(cache))
   }
 
   /**