diff --git a/CHANGES/141.feature b/CHANGES/141.feature
new file mode 100644
index 0000000..8c77334
--- /dev/null
+++ b/CHANGES/141.feature
@@ -0,0 +1 @@
+`timeout` can now also be used as function decorator.
\ No newline at end of file
diff --git a/README.rst b/README.rst
index f1174d4..a6202be 100644
--- a/README.rst
+++ b/README.rst
@@ -37,6 +37,13 @@ that cancels a block on *timeout* expiring::
 *timeout* parameter could be ``None`` for skipping timeout functionality.
 
 
+Another possibility is to use ``timeout`` as function decorator::
+
+    @timeout(1.5)
+    async def possibly_long_running():
+        pass
+
+
 Alternatively, ``timeout_at(when)`` can be used for scheduling
 at the absolute time::
 
diff --git a/async_timeout/__init__.py b/async_timeout/__init__.py
index e86b319..51c5198 100644
--- a/async_timeout/__init__.py
+++ b/async_timeout/__init__.py
@@ -128,6 +128,13 @@ async def __aexit__(
         self._do_exit(exc_type)
         return None
 
+    def __call__(self, f):
+        async def inner(*args, **kargs):
+            async with self:
+                return await f(*args, **kargs)
+
+        return inner
+
     @property
     def expired(self) -> bool:
         """Is timeout expired during execution?"""
diff --git a/tests/test_timeout.py b/tests/test_timeout.py
index 28ad4be..41a0603 100644
--- a/tests/test_timeout.py
+++ b/tests/test_timeout.py
@@ -26,6 +26,26 @@ async def long_running_task():
     assert canceled_raised, "CancelledError was not raised"
 
 
+@pytest.mark.asyncio
+async def test_timeout_as_decorator():
+    canceled_raised = False
+
+    @timeout(0.01)
+    async def long_running_task(arg, *, karg):
+        assert arg == 1
+        assert karg == 2
+        try:
+            await asyncio.sleep(10)
+        except asyncio.CancelledError:
+            nonlocal canceled_raised
+            canceled_raised = True
+            raise
+
+    with pytest.raises(asyncio.TimeoutError):
+        await long_running_task(1, karg=2)
+    assert canceled_raised, "CancelledError was not raised"
+
+
 @pytest.mark.asyncio
 async def test_timeout_finish_in_time():
     async def long_running_task():