diff --git a/extensions/mypy_extensions.py b/extensions/mypy_extensions.py
index 82eea32a31d8..afc3fe9754f1 100644
--- a/extensions/mypy_extensions.py
+++ b/extensions/mypy_extensions.py
@@ -131,3 +131,13 @@ def KwArg(type=Any):
 
 # Return type that indicates a function does not return
 class NoReturn: pass
+
+
+def declared_type(t):
+    """Declare the type of a declaration.
+
+    This is useful for declaring a more specific type for a decorated class or
+    function definition than the decorator provides as a return value.
+    """
+    # Return the identity function -- calling this should be a noop
+    return lambda __x: __x
diff --git a/mypy/checker.py b/mypy/checker.py
index 98bb35474bf9..79f300baa630 100644
--- a/mypy/checker.py
+++ b/mypy/checker.py
@@ -2266,8 +2266,14 @@ def visit_decorator(self, e: Decorator) -> None:
                                                    [nodes.ARG_POS], e,
                                                    callable_name=fullname)
         sig = cast(FunctionLike, sig)
-        sig = set_callable_name(sig, e.func)
-        e.var.type = sig
+        if e.var.type is not None:
+            # We have a declared type, check it.
+            self.check_subtype(sig, e.var.type, e,
+                               subtype_label="inferred decorated type",
+                               supertype_label="declared decorated type")
+        else:
+            e.var.type = sig
+        e.var.type = set_callable_name(e.var.type, e.func)
         e.var.is_ready = True
         if e.func.is_property:
             self.check_incompatible_property_override(e)
diff --git a/mypy/semanal.py b/mypy/semanal.py
index 523edc8563e0..29c55813c4dc 100644
--- a/mypy/semanal.py
+++ b/mypy/semanal.py
@@ -2633,6 +2633,19 @@ def visit_decorator(self, dec: Decorator) -> None:
             elif refers_to_fullname(d, 'typing.no_type_check'):
                 dec.var.type = AnyType()
                 no_type_check = True
+            elif isinstance(d, CallExpr) and (
+                    refers_to_fullname(d.callee, 'typing.declared_type')
+                    or refers_to_fullname(d.callee, 'mypy_extensions.declared_type')):
+                removed.append(i)
+                if i != 0:
+                    self.fail('"declared_type" must be the topmost decorator', d)
+                elif len(d.args) != 1:
+                    self.fail('"declared_type" takes exactly one argument', d)
+                else:
+                    dec.var.type = self.expr_to_analyzed_type(d.args[0])
+            elif (refers_to_fullname(d, 'typing.declared_type') or
+                  refers_to_fullname(d, 'mypy_extensions.declared_type')):
+                self.fail('"declared_type" must have a type as an argument', d)
         for i in reversed(removed):
             del dec.decorators[i]
         if not dec.is_overload or dec.var.is_property:
@@ -3838,6 +3851,13 @@ def visit_decorator(self, dec: Decorator) -> None:
         engine just for decorators.
         """
         super().visit_decorator(dec)
+        if dec.var.type is not None:
+            # We already have a declared type for this decorated thing.
+            return
+        if dec.func.is_awaitable_coroutine:
+            # The type here will be fixed up by checker.py, but we can't infer
+            # anything here.
+            return
         if dec.var.is_property:
             # Decorators are expected to have a callable type (it's a little odd).
             if dec.func.type is None:
diff --git a/test-data/unit/check-functions.test b/test-data/unit/check-functions.test
index fc049053f855..9e901af721c3 100644
--- a/test-data/unit/check-functions.test
+++ b/test-data/unit/check-functions.test
@@ -734,6 +734,188 @@ a = None # type: A
 a.f()
 a.f(None) # E: Too many arguments for "f" of "A"
 
+[case testMethodWithDeclaredDecoratedType]
+
+from typing import Callable, Any
+from mypy_extensions import declared_type
+
+def dec(f): pass
+
+# Note that the decorated type must account for the `self` argument  -- It's applied pre-binding
+class Foo:
+    @declared_type(Callable[[Any, int], str])
+    @dec
+    def f(self): pass
+
+foo = Foo()
+
+foo.f("a")  # E: Argument 1 to "f" of "Foo" has incompatible type "str"; expected "int"
+x: str = foo.f(1)
+y: int = foo.f(1)  # E: Incompatible types in assignment (expression has type "str", variable has type "int")
+
+reveal_type(foo.f)  # E: Revealed type is 'def (builtins.int) -> builtins.str'
+
+[builtins fixtures/dict.pyi]
+
+[case testClassMethodWithDeclaredDecoratedType]
+
+from typing import Callable, Any
+from mypy_extensions import declared_type
+
+def dec(f): pass
+
+# Note that the decorated type must account for the `cls` argument  -- It's applied pre-binding
+class Foo:
+    @declared_type(Callable[[Any, int], str])
+    @classmethod
+    @dec
+    def f(cls): pass
+
+
+Foo.f("a")  # E: Argument 1 to "f" of "Foo" has incompatible type "str"; expected "int"
+x: str = Foo.f(1)
+y: int = Foo.f(1)  # E: Incompatible types in assignment (expression has type "str", variable has type "int")
+
+reveal_type(Foo.f)  # E: Revealed type is 'def (builtins.int) -> builtins.str'
+
+[builtins fixtures/dict.pyi]
+
+[case testStaticMethodWithDeclaredDecoratedType]
+
+from typing import Callable
+from mypy_extensions import declared_type
+
+def dec(f): pass
+
+class Foo:
+    @declared_type(Callable[[int], str])
+    @staticmethod
+    @dec
+    def f(): pass
+
+
+Foo.f("a")  # E: Argument 1 to "f" of "Foo" has incompatible type "str"; expected "int"
+x: str = Foo.f(1)
+y: int = Foo.f(1)  # E: Incompatible types in assignment (expression has type "str", variable has type "int")
+
+reveal_type(Foo.f)  # E: Revealed type is 'def (builtins.int) -> builtins.str'
+
+[builtins fixtures/dict.pyi]
+
+[case testUntypedDecoratorWithDeclaredType]
+
+from typing import Callable
+from mypy_extensions import declared_type
+
+def dec(f): pass
+
+@declared_type(Callable[[int], str])
+@dec
+def f(): pass
+
+f("a")  # E: Argument 1 to "f" has incompatible type "str"; expected "int"
+x: str = f(1)
+y: int = f(1)  # E: Incompatible types in assignment (expression has type "str", variable has type "int")
+
+reveal_type(f)  # E: Revealed type is 'def (builtins.int) -> builtins.str'
+
+[builtins fixtures/dict.pyi]
+
+[case testDecoratorWithDeclaredTypeBare]
+
+from typing import Callable
+from mypy_extensions import declared_type
+
+@declared_type(Callable[[int], str])
+def f(x): pass
+
+f("a")  # E: Argument 1 to "f" has incompatible type "str"; expected "int"
+x: str = f(1)
+y: int = f(1)  # E: Incompatible types in assignment (expression has type "str", variable has type "int")
+reveal_type(f)  # E: Revealed type is 'def (builtins.int) -> builtins.str'
+
+[builtins fixtures/dict.pyi]
+
+[case testDecoratorWithDeclaredTypeIncompatible]
+
+from typing import Callable, TypeVar
+from mypy_extensions import declared_type
+
+T = TypeVar('T')
+
+def dec(f: T) -> T: pass
+
+@declared_type(Callable[[int], str])  # E: Incompatible types (inferred decorated type Callable[[str], str], declared decorated type Callable[[int], str])
+@dec
+def f(x: str) -> str: pass
+
+[builtins fixtures/dict.pyi]
+
+[case testDecoratorWithDeclaredTypeCompatible]
+
+from typing import Callable, TypeVar
+from mypy_extensions import declared_type
+
+T = TypeVar('T')
+
+def dec(f: T) -> T: pass
+
+class A: pass
+class B(A): pass
+
+@declared_type(Callable[[B], str])
+@dec
+def f(x: A) -> str: pass
+
+reveal_type(f)  # E: Revealed type is 'def (__main__.B) -> builtins.str'
+[builtins fixtures/dict.pyi]
+
+[case testDecoratorWithDeclaredTypeNotTop]
+
+from typing import Callable
+from mypy_extensions import declared_type
+
+def dec(f): pass
+
+@dec
+@declared_type(Callable[[int], str])  # E: "declared_type" must be the topmost decorator
+def f(): pass
+
+reveal_type(f)  # E: Revealed type is 'Any'
+
+[builtins fixtures/dict.pyi]
+
+[case testDecoratorWithDeclaredTypeNoArgs]
+
+from typing import Callable
+from mypy_extensions import declared_type
+
+def dec(f): pass
+
+@declared_type()  # E: "declared_type" takes exactly one argument
+@dec
+def f(): pass
+
+reveal_type(f)  # E: Revealed type is 'Any'
+
+[builtins fixtures/dict.pyi]
+
+[case testDecoratorWithDeclaredTypeNoCall]
+
+from typing import Callable
+from mypy_extensions import declared_type
+
+def dec(f): pass
+
+@declared_type  # E: "declared_type" must have a type as an argument
+@dec
+def f(): pass
+
+# NB: The revealed type below is technically correct, as weird as it looks
+reveal_type(f)  # E: Revealed type is 'def [T] (T`-1) -> T`-1'
+
+[builtins fixtures/dict.pyi]
+
 [case testNestedDecorators]
 from typing import Any, Callable
 def dec1(f: Callable[[Any], None]) -> Callable[[], None]: pass
diff --git a/test-data/unit/fixtures/dict.pyi b/test-data/unit/fixtures/dict.pyi
index e920512274dd..84d74d2642f1 100644
--- a/test-data/unit/fixtures/dict.pyi
+++ b/test-data/unit/fixtures/dict.pyi
@@ -41,3 +41,7 @@ class bool: pass
 
 class ellipsis: pass
 class BaseException: pass
+
+# Because all tests that use mypy_extensions need dict, this is easier.
+classmethod = object()
+staticmethod = object()
diff --git a/test-data/unit/lib-stub/mypy_extensions.pyi b/test-data/unit/lib-stub/mypy_extensions.pyi
index fa540b99f4cd..518686391d74 100644
--- a/test-data/unit/lib-stub/mypy_extensions.pyi
+++ b/test-data/unit/lib-stub/mypy_extensions.pyi
@@ -1,4 +1,4 @@
-from typing import Dict, Type, TypeVar, Optional, Any
+from typing import Dict, Type, TypeVar, Callable, Any, Optional
 
 _T = TypeVar('_T')
 
@@ -19,3 +19,5 @@ def KwArg(type: _T = ...) -> _T: ...
 def TypedDict(typename: str, fields: Dict[str, Type[_T]]) -> Type[dict]: ...
 
 class NoReturn: pass
+
+def declared_type(t: Any) -> Callable[[T], T]: pass