diff --git a/espnet2/bin/asr_inference.py b/espnet2/bin/asr_inference.py
index fc6d75cb488..810f8714a9f 100755
--- a/espnet2/bin/asr_inference.py
+++ b/espnet2/bin/asr_inference.py
@@ -1,5 +1,6 @@
 #!/usr/bin/env python3
 import argparse
+from distutils.version import LooseVersion
 import logging
 from pathlib import Path
 import sys
@@ -11,6 +12,7 @@
 
 import numpy as np
 import torch
+import torch.quantization
 from typeguard import check_argument_types
 from typeguard import check_return_type
 from typing import List
@@ -79,11 +81,27 @@ def __init__(
         nbest: int = 1,
         streaming: bool = False,
         enh_s2t_task: bool = False,
+        quantize_asr_model: bool = False,
+        quantize_lm: bool = False,
+        quantize_modules: List[str] = ["Linear"],
+        quantize_dtype: str = "qint8",
     ):
         assert check_argument_types()
 
         task = ASRTask if not enh_s2t_task else EnhS2TTask
 
+        if quantize_asr_model or quantize_lm:
+            if quantize_dtype == "float16" and torch.__version__ < LooseVersion(
+                "1.5.0"
+            ):
+                raise ValueError(
+                    "float16 dtype for dynamic quantization is not supported with torch "
+                    "version < 1.5.0. Switch to qint8 dtype instead."
+                )
+
+        quantize_modules = set([getattr(torch.nn, q) for q in quantize_modules])
+        quantize_dtype = getattr(torch, quantize_dtype)
+
         # 1. Build ASR model
         scorers = {}
         asr_model, asr_train_args = task.build_model_from_file(
@@ -103,6 +121,15 @@ def __init__(
             )
         asr_model.to(dtype=getattr(torch, dtype)).eval()
 
+        if quantize_asr_model:
+            logging.info("Use quantized asr model for decoding.")
+            
+            asr_model = torch.quantization.quantize_dynamic(
+                asr_model, 
+                qconfig_spec=quantize_modules, 
+                dtype=quantize_dtype
+            )
+
         decoder = asr_model.decoder
 
         ctc = CTCPrefixScorer(ctc=asr_model.ctc, eos=asr_model.eos)
@@ -118,6 +145,16 @@ def __init__(
             lm, lm_train_args = LMTask.build_model_from_file(
                 lm_train_config, lm_file, device
             )
+
+            if quantize_lm:
+                logging.info("Use quantized lm for decoding.")
+
+                lm = torch.quantization.quantize_dynamic(
+                    lm,
+                    qconfig_spec=quantize_modules,
+                    dtype=quantize_dtype
+                )
+
             scorers["lm"] = lm.lm
 
         # 3. Build ngram model
@@ -365,6 +402,10 @@ def inference(
     transducer_conf: Optional[dict],
     streaming: bool,
     enh_s2t_task: bool,
+    quantize_asr_model: bool,
+    quantize_lm: bool,
+    quantize_modules: List[str],
+    quantize_dtype: str,
 ):
     assert check_argument_types()
     if batch_size > 1:
@@ -409,6 +450,10 @@ def inference(
         nbest=nbest,
         streaming=streaming,
         enh_s2t_task=enh_s2t_task,
+        quantize_asr_model=quantize_asr_model,
+        quantize_lm=quantize_lm,
+        quantize_modules=quantize_modules,
+        quantize_dtype=quantize_dtype,
     )
     speech2text = Speech2Text.from_pretrained(
         model_tag=model_tag,
@@ -557,6 +602,37 @@ def get_parser():
         help="enhancement and asr joint model",
     )
 
+    group = parser.add_argument_group("Quantization related")
+    group.add_argument(
+        "--quantize_asr_model",
+        type=str2bool,
+        default=False,
+        help="Apply dynamic quantization to ASR model.",
+    )
+    group.add_argument(
+        "--quantize_lm",
+        type=str2bool,
+        default=False,
+        help="Apply dynamic quantization to LM.",
+    )
+    group.add_argument(
+        "--quantize_modules",
+        type=str,
+        nargs="*",
+        default=["Linear"],
+        help="""List of modules to be dynamically quantized.
+        E.g.: --quantize_modules=[Linear,LSTM,GRU].
+        Each specified module should be an attribute of 'torch.nn', e.g.:
+        torch.nn.Linear, torch.nn.LSTM, torch.nn.GRU, ...""",
+    )
+    group.add_argument(
+        "--quantize_dtype",
+        type=str,
+        default="qint8",
+        choices=["float16", "qint8"],
+        help="Dtype for dynamic quantization.",
+    )
+
     group = parser.add_argument_group("Beam-search related")
     group.add_argument(
         "--batch_size",