diff --git a/Sources/AsyncAlgorithms/AsyncReplaySequence.swift b/Sources/AsyncAlgorithms/AsyncReplaySequence.swift
new file mode 100644
index 00000000..a8d3ab56
--- /dev/null
+++ b/Sources/AsyncAlgorithms/AsyncReplaySequence.swift
@@ -0,0 +1,87 @@
+//===----------------------------------------------------------------------===//
+//
+// This source file is part of the Swift Async Algorithms open source project
+//
+// Copyright (c) 2022 Apple Inc. and the Swift project authors
+// Licensed under Apache License v2.0 with Runtime Library Exception
+//
+// See https://swift.org/LICENSE.txt for license information
+//
+//===----------------------------------------------------------------------===//
+
+import DequeModule
+
+public extension AsyncSequence {
+  func replay(count: Int) -> AsyncReplaySequence<Self> {
+    AsyncReplaySequence(base: self, count: count)
+  }
+}
+
+public struct AsyncReplaySequence<Base: AsyncSequence>: AsyncSequence {
+  public typealias Element = Base.Element
+  public typealias AsyncIterator = Iterator
+
+  private let base: Base
+  private let count: Int
+  private let history: ManagedCriticalState<Deque<Result<Base.Element?, Error>>>
+
+  public init(base: Base, count: Int) {
+    self.base = base
+    self.count = count
+    self.history = ManagedCriticalState([])
+  }
+
+  private func push(element: Result<Element?, Error>) {
+    self.history.withCriticalRegion { history in
+      if history.count >= count {
+        _ = history.popFirst()
+      }
+      history.append(element)
+    }
+  }
+
+  private func dumpHistory(into localHistory: inout Deque<Result<Base.Element?, Error>>?) {
+    self.history.withCriticalRegion { localHistory = $0 }
+  }
+
+  public func makeAsyncIterator() -> AsyncIterator {
+    return Iterator(
+      asyncReplaySequence: self,
+      base: self.base.makeAsyncIterator()
+    )
+  }
+
+  public struct Iterator: AsyncIteratorProtocol {
+    let asyncReplaySequence: AsyncReplaySequence<Base>
+    var base: Base.AsyncIterator
+    var history: Deque<Result<Base.Element?, Error>>?
+
+    public mutating func next() async rethrows -> Element? {
+      if self.history == nil {
+        // first call to next, we make sure we have the latest available history
+        self.asyncReplaySequence.dumpHistory(into: &self.history)
+      }
+
+      if self.history!.isEmpty {
+        // nothing to replay, we request the next element from the base and push it in the history
+        let element: Result<Base.Element?, Error>
+        do {
+          element = .success(try await self.base.next())
+        } catch {
+          element = .failure(error)
+        }
+
+        self.asyncReplaySequence.push(element: element)
+        return try element._rethrowGet()
+      } else {
+        guard !Task.isCancelled else { return nil }
+
+        // we replay the oldest element from the history
+        let element = self.history!.popFirst()!
+        return try element._rethrowGet()
+      }
+    }
+  }
+}
+
+extension AsyncReplaySequence: Sendable where Base: Sendable, Base.Element: Sendable { }
diff --git a/Tests/AsyncAlgorithmsTests/TestReplay.swift b/Tests/AsyncAlgorithmsTests/TestReplay.swift
new file mode 100644
index 00000000..d155c3d2
--- /dev/null
+++ b/Tests/AsyncAlgorithmsTests/TestReplay.swift
@@ -0,0 +1,97 @@
+//===----------------------------------------------------------------------===//
+//
+// This source file is part of the Swift Async Algorithms open source project
+//
+// Copyright (c) 2022 Apple Inc. and the Swift project authors
+// Licensed under Apache License v2.0 with Runtime Library Exception
+//
+// See https://swift.org/LICENSE.txt for license information
+//
+//===----------------------------------------------------------------------===//
+
+import XCTest
+import AsyncAlgorithms
+
+final class TestReplay: XCTestCase {
+  func test_given_a_replayed_sequence_when_next_sequence_is_iterated_then_elements_are_replayed_in_the_limit_of_count() async {
+    let channel = AsyncChannel<Int>()
+
+    // Given
+    let replayed = channel.replay(count: 2)
+
+    Task {
+      await channel.send(1)
+      await channel.send(2)
+      await channel.send(3)
+    }
+
+    var iterator1 = replayed.makeAsyncIterator()
+    _ = await iterator1.next() // 1
+    _ = await iterator1.next() // 2
+    _ = await iterator1.next() // 3
+
+    Task {
+      await channel.send(4)
+      await channel.send(5)
+      await channel.send(6)
+    }
+
+    // When
+    var received = [Int]()
+    var iterator2 = replayed.makeAsyncIterator()
+    received.append(await iterator2.next()!) // 2
+    received.append(await iterator2.next()!) // 3
+    received.append(await iterator2.next()!) // 4
+    received.append(await iterator2.next()!) // 5
+    received.append(await iterator2.next()!) // 6
+
+    // Then
+    XCTAssertEqual(received, [2, 3, 4, 5, 6])
+  }
+
+  func test_given_a_replayed_sequence_when_base_is_finished_then_pastEnd_is_nil() async {
+    // Given
+    let replayed = [1, 2, 3].async.replay(count: 0)
+
+    var iterator = replayed.makeAsyncIterator()
+
+    // When
+    while let _ = await iterator.next() {}
+
+    // Then
+    let pastEnd = await iterator.next()
+    XCTAssertNil(pastEnd)
+  }
+
+  func test_given_a_failed_replayed_sequence_when_next_sequence_is_iterated_then_elements_are_replayed_with_failure() async throws {
+    let channel = AsyncThrowingChannel<Int, Error>()
+
+    // Given
+    let replayed = channel.replay(count: 2)
+
+    Task {
+      await channel.send(1)
+      await channel.send(2)
+      channel.fail(Failure())
+    }
+
+    var iterator1 = replayed.makeAsyncIterator()
+    _ = try await iterator1.next() // 1
+    _ = try await iterator1.next() // 2
+    _ = try? await iterator1.next() // failure
+
+    // When
+    var received = [Int]()
+    do {
+      for try await element in replayed {
+        received.append(element)
+      }
+      XCTFail("Replayed should fail at element number 2")
+    } catch {
+      XCTAssertTrue(error is Failure)
+    }
+
+    // Then
+    XCTAssertEqual(received, [2])
+  }
+}