diff --git a/modules/angular2/src/change_detection/change_detection.js b/modules/angular2/src/change_detection/change_detection.js
index 4f76accead..b46743b4ca 100644
--- a/modules/angular2/src/change_detection/change_detection.js
+++ b/modules/angular2/src/change_detection/change_detection.js
@@ -2,6 +2,7 @@ import {DynamicProtoChangeDetector, JitProtoChangeDetector} from './proto_change
 import {PipeRegistry} from './pipes/pipe_registry';
 import {IterableChangesFactory} from './pipes/iterable_changes';
 import {KeyValueChangesFactory} from './pipes/keyvalue_changes';
+import {AsyncPipeFactory} from './pipes/async_pipe';
 import {NullPipeFactory} from './pipes/null_pipe';
 import {DEFAULT} from './constants';
 import {ChangeDetection, ProtoChangeDetector} from './interfaces';
@@ -27,9 +28,20 @@ export var iterableDiff = [
   new NullPipeFactory()
 ];
 
+/**
+ * Async binding to such types as Observable.
+ *
+ * @exportedAs angular2/pipes
+ */
+export var async = [
+  new AsyncPipeFactory(),
+  new NullPipeFactory()
+];
+
 export var defaultPipes = {
   "iterableDiff" : iterableDiff,
-  "keyValDiff" : keyValDiff
+  "keyValDiff" : keyValDiff,
+  "async" : async
 };
 
 
diff --git a/modules/angular2/src/change_detection/pipes/async_pipe.js b/modules/angular2/src/change_detection/pipes/async_pipe.js
new file mode 100644
index 0000000000..9f844a6790
--- /dev/null
+++ b/modules/angular2/src/change_detection/pipes/async_pipe.js
@@ -0,0 +1,112 @@
+import {Observable, ObservableWrapper} from 'angular2/src/facade/async';
+import {isBlank, isPresent} from 'angular2/src/facade/lang';
+import {Pipe, NO_CHANGE} from './pipe';
+import {ChangeDetectorRef} from '../change_detector_ref';
+
+/**
+ * Implements async bindings to Observable.
+ *
+ * # Example
+ *
+ * In this example we bind the description observable to the DOM. The async pipe will convert an observable to the
+ * latest value it emitted. It will also request a change detection check when a new value is emitted.
+ *
+ *  ```
+ * @Component({
+ *   selector: "task-cmp",
+ *   changeDetection: ON_PUSH
+ * })
+ * @View({
+ *  inline: "Task Description {{description|async}}"
+ * })
+ * class Task {
+ *  description:Observable<string>;
+ * }
+ *
+ * ```
+ *
+ * @exportedAs angular2/pipes
+ */
+export class AsyncPipe extends Pipe {
+  _ref:ChangeDetectorRef;
+
+  _latestValue:Object;
+  _latestReturnedValue:Object;
+
+  _subscription:Object;
+  _observable:Observable;
+
+  constructor(ref:ChangeDetectorRef) {
+    super();
+    this._ref = ref;
+    this._latestValue = null;
+    this._latestReturnedValue = null;
+    this._subscription = null;
+    this._observable = null;
+  }
+
+  supports(obs):boolean {
+    return ObservableWrapper.isObservable(obs);
+  }
+
+  onDestroy():void {
+    if (isPresent(this._subscription)) {
+      this._dispose();
+    };
+  }
+
+  transform(obs:Observable):any {
+    if (isBlank(this._subscription)) {
+      this._subscribe(obs);
+      return null;
+    }
+
+    if (obs !== this._observable) {
+      this._dispose();
+      return this.transform(obs);
+    }
+
+    if (this._latestValue === this._latestReturnedValue) {
+      return NO_CHANGE;
+    } else {
+      this._latestReturnedValue = this._latestValue;
+      return this._latestValue;
+    }
+  }
+
+  _subscribe(obs:Observable):void {
+    this._observable = obs;
+    this._subscription = ObservableWrapper.subscribe(obs,
+        value => this._updateLatestValue(value),
+        e => {throw e;}
+    );
+  }
+
+  _dispose():void {
+    ObservableWrapper.dispose(this._subscription);
+    this._latestValue = null;
+    this._latestReturnedValue = null;
+    this._subscription = null;
+    this._observable = null;
+  }
+
+  _updateLatestValue(value:Object) {
+    this._latestValue = value;
+    this._ref.requestCheck();
+  }
+}
+
+/**
+ * Provides a factory for [AsyncPipe].
+ *
+ * @exportedAs angular2/pipes
+ */
+export class AsyncPipeFactory {
+  supports(obs):boolean {
+    return ObservableWrapper.isObservable(obs);
+  }
+
+  create(cdRef):Pipe {
+    return new AsyncPipe(cdRef);
+  }
+}
\ No newline at end of file
diff --git a/modules/angular2/src/facade/async.dart b/modules/angular2/src/facade/async.dart
index a4aa5180d8..5b35448966 100644
--- a/modules/angular2/src/facade/async.dart
+++ b/modules/angular2/src/facade/async.dart
@@ -37,6 +37,14 @@ class ObservableWrapper {
     return s.listen(onNext, onError: onError, onDone: onComplete, cancelOnError: true);
   }
 
+  static bool isObservable(obs) {
+    return obs is Stream;
+  }
+
+  static void dispose(StreamSubscription s) {
+    s.cancel();
+  }
+
   static void callNext(EventEmitter emitter, value) {
     emitter.add(value);
   }
diff --git a/modules/angular2/src/facade/async.es6 b/modules/angular2/src/facade/async.es6
index e9eff1b461..8e9fcff7b1 100644
--- a/modules/angular2/src/facade/async.es6
+++ b/modules/angular2/src/facade/async.es6
@@ -58,6 +58,14 @@ export class ObservableWrapper {
     return emitter.observer({next: onNext, throw: onThrow, return: onReturn});
   }
 
+  static dispose(subscription:any) {
+    subscription.dispose();
+  }
+
+  static isObservable(obs):boolean {
+    return obs instanceof Observable;
+  }
+
   static callNext(emitter:EventEmitter, value:any) {
     emitter.next(value);
   }
diff --git a/modules/angular2/src/facade/async.ts b/modules/angular2/src/facade/async.ts
index 17b5f60eaa..4b3c543c2e 100644
--- a/modules/angular2/src/facade/async.ts
+++ b/modules/angular2/src/facade/async.ts
@@ -54,6 +54,10 @@ export class ObservableWrapper {
     return emitter.observer({next: onNext, throw: onThrow, return: onReturn});
   }
 
+  static isObservable(obs: any): boolean { return obs instanceof Observable; }
+
+  static dispose(subscription: any) { subscription.dispose(); }
+
   static callNext(emitter: EventEmitter, value: any) { emitter.next(value); }
 
   static callThrow(emitter: EventEmitter, error: any) { emitter.throw(error); }
diff --git a/modules/angular2/test/change_detection/pipes/async_pipe_spec.js b/modules/angular2/test/change_detection/pipes/async_pipe_spec.js
new file mode 100644
index 0000000000..218ce31e27
--- /dev/null
+++ b/modules/angular2/test/change_detection/pipes/async_pipe_spec.js
@@ -0,0 +1,115 @@
+import {ddescribe, describe, it, iit, xit, expect, beforeEach, afterEach,
+  AsyncTestCompleter, inject, proxy, SpyObject} from 'angular2/test_lib';
+import {IMPLEMENTS} from 'angular2/src/facade/lang';
+
+import {AsyncPipe} from 'angular2/src/change_detection/pipes/async_pipe';
+import {NO_CHANGE} from 'angular2/src/change_detection/pipes/pipe';
+import {ChangeDetectorRef} from 'angular2/src/change_detection/change_detector_ref';
+import {EventEmitter, Observable, ObservableWrapper, PromiseWrapper} from 'angular2/src/facade/async';
+
+export function main() {
+  describe("AsyncPipe", () => {
+    var emitter;
+    var pipe;
+    var ref;
+    var message = new Object();
+
+    beforeEach(() => {
+      emitter = new EventEmitter();
+      ref = new SpyChangeDetectorRef();
+      pipe = new AsyncPipe(ref);
+    });
+
+    describe("supports", () => {
+      it("should support observables", () => {
+        expect(pipe.supports(emitter)).toBe(true);
+      });
+
+      it("should not support other objects", () => {
+        expect(pipe.supports("string")).toBe(false);
+        expect(pipe.supports(null)).toBe(false);
+      });
+    });
+
+    describe("transform", () => {
+      it("should return null when subscribing to an observable", () => {
+        expect(pipe.transform(emitter)).toBe(null);
+      });
+
+      it("should return the latest available value", inject([AsyncTestCompleter], (async) => {
+        pipe.transform(emitter);
+
+        ObservableWrapper.callNext(emitter, message);
+
+        PromiseWrapper.setTimeout(() => {
+          expect(pipe.transform(emitter)).toEqual(message);
+          async.done();
+        }, 0)
+      }));
+
+      it("should return NO_CHANGE when nothing has changed since the last call",
+          inject([AsyncTestCompleter], (async) => {
+        pipe.transform(emitter);
+        ObservableWrapper.callNext(emitter, message);
+
+        PromiseWrapper.setTimeout(() => {
+          pipe.transform(emitter);
+          expect(pipe.transform(emitter)).toBe(NO_CHANGE);
+          async.done();
+        }, 0)
+      }));
+
+      it("should dispose of the existing subscription when subscribing to a new observable",
+          inject([AsyncTestCompleter], (async) => {
+        pipe.transform(emitter);
+
+        var newEmitter = new EventEmitter();
+        expect(pipe.transform(newEmitter)).toBe(null);
+
+        // this should not affect the pipe, so it should return NO_CHANGE
+        ObservableWrapper.callNext(emitter, message);
+
+        PromiseWrapper.setTimeout(() => {
+          expect(pipe.transform(newEmitter)).toBe(NO_CHANGE);
+          async.done();
+        }, 0)
+      }));
+
+      it("should request a change detection check upon receiving a new value",
+          inject([AsyncTestCompleter], (async) => {
+        pipe.transform(emitter);
+        ObservableWrapper.callNext(emitter, message);
+
+        PromiseWrapper.setTimeout(() => {
+          expect(ref.spy('requestCheck')).toHaveBeenCalled();
+          async.done();
+        }, 0)
+      }));
+    });
+
+    describe("onDestroy", () => {
+      it("should do nothing when no subscription", () => {
+        pipe.onDestroy();
+      });
+
+      it("should dispose of the existing subscription", inject([AsyncTestCompleter], (async) => {
+        pipe.transform(emitter);
+        pipe.onDestroy();
+
+        ObservableWrapper.callNext(emitter, message);
+
+        PromiseWrapper.setTimeout(() => {
+          expect(pipe.transform(emitter)).toBe(null);
+          async.done();
+        }, 0)
+      }));
+    });
+  });
+}
+
+@proxy
+@IMPLEMENTS(ChangeDetectorRef)
+class SpyChangeDetectorRef extends SpyObject {
+  constructor(){super(ChangeDetectorRef);}
+  noSuchMethod(m){return super.noSuchMethod(m)}
+}