diff --git a/aws/data_source_aws_launch_template.go b/aws/data_source_aws_launch_template.go
index 3c4f27dad4e..12e63e32ec1 100644
--- a/aws/data_source_aws_launch_template.go
+++ b/aws/data_source_aws_launch_template.go
@@ -79,6 +79,10 @@ func dataSourceAwsLaunchTemplate() *schema.Resource {
 										Type:     schema.TypeString,
 										Computed: true,
 									},
+									"throughput": {
+										Type:     schema.TypeInt,
+										Computed: true,
+									},
 									"volume_size": {
 										Type:     schema.TypeInt,
 										Computed: true,
diff --git a/aws/resource_aws_launch_template.go b/aws/resource_aws_launch_template.go
index 9b41755ab3c..96662f9b5ae 100644
--- a/aws/resource_aws_launch_template.go
+++ b/aws/resource_aws_launch_template.go
@@ -133,6 +133,12 @@ func resourceAwsLaunchTemplate() *schema.Resource {
 										Type:     schema.TypeString,
 										Optional: true,
 									},
+									"throughput": {
+										Type:         schema.TypeInt,
+										Computed:     true,
+										Optional:     true,
+										ValidateFunc: validation.IntBetween(125, 1000),
+									},
 									"volume_size": {
 										Type:     schema.TypeInt,
 										Optional: true,
@@ -929,6 +935,9 @@ func getBlockDeviceMappings(m []*ec2.LaunchTemplateBlockDeviceMapping) []interfa
 			if v.Ebs.SnapshotId != nil {
 				ebs["snapshot_id"] = aws.StringValue(v.Ebs.SnapshotId)
 			}
+			if v.Ebs.Throughput != nil {
+				ebs["throughput"] = aws.Int64Value(v.Ebs.Throughput)
+			}
 
 			mapping["ebs"] = []interface{}{ebs}
 		}
@@ -1496,6 +1505,10 @@ func readEbsBlockDeviceFromConfig(ebs map[string]interface{}) (*ec2.LaunchTempla
 		ebsDevice.SnapshotId = aws.String(v)
 	}
 
+	if v := ebs["throughput"].(int); v > 0 {
+		ebsDevice.Throughput = aws.Int64(int64(v))
+	}
+
 	if v := ebs["volume_size"]; v != nil {
 		ebsDevice.VolumeSize = aws.Int64(int64(v.(int)))
 	}
diff --git a/aws/resource_aws_launch_template_test.go b/aws/resource_aws_launch_template_test.go
index abe1c477cc1..ce71867437a 100644
--- a/aws/resource_aws_launch_template_test.go
+++ b/aws/resource_aws_launch_template_test.go
@@ -143,6 +143,7 @@ func TestAccAWSLaunchTemplate_BlockDeviceMappings_EBS(t *testing.T) {
 					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.#", "1"),
 					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.0.device_name", "/dev/xvda"),
 					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.0.ebs.#", "1"),
+					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.0.ebs.0.throughput", "0"),
 					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.0.ebs.0.volume_size", "15"),
 				),
 			},
@@ -196,6 +197,38 @@ func TestAccAWSLaunchTemplate_BlockDeviceMappings_EBS_DeleteOnTermination(t *tes
 	})
 }
 
+func TestAccAWSLaunchTemplate_BlockDeviceMappings_EBS_Gp3(t *testing.T) {
+	var template ec2.LaunchTemplate
+	rName := acctest.RandomWithPrefix("tf-acc-test")
+	resourceName := "aws_launch_template.test"
+
+	resource.ParallelTest(t, resource.TestCase{
+		PreCheck:     func() { testAccPreCheck(t) },
+		Providers:    testAccProviders,
+		CheckDestroy: testAccCheckAWSLaunchTemplateDestroy,
+		Steps: []resource.TestStep{
+			{
+				Config: testAccAWSLaunchTemplateConfig_BlockDeviceMappings_EBS_Gp3(rName),
+				Check: resource.ComposeTestCheckFunc(
+					testAccCheckAWSLaunchTemplateExists(resourceName, &template),
+					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.#", "1"),
+					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.0.device_name", "/dev/xvda"),
+					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.0.ebs.#", "1"),
+					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.0.ebs.0.iops", "4000"),
+					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.0.ebs.0.throughput", "500"),
+					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.0.ebs.0.volume_size", "15"),
+					resource.TestCheckResourceAttr(resourceName, "block_device_mappings.0.ebs.0.volume_type", "gp3"),
+				),
+			},
+			{
+				ResourceName:      resourceName,
+				ImportState:       true,
+				ImportStateVerify: true,
+			},
+		},
+	})
+}
+
 func TestAccAWSLaunchTemplate_EbsOptimized(t *testing.T) {
 	var template ec2.LaunchTemplate
 	rName := acctest.RandomWithPrefix("tf-acc-test")
@@ -1270,6 +1303,46 @@ resource "aws_autoscaling_group" "test" {
 `, rName, deleteOnTermination))
 }
 
+func testAccAWSLaunchTemplateConfig_BlockDeviceMappings_EBS_Gp3(rName string) string {
+	return composeConfig(
+		testAccLatestAmazonLinuxHvmEbsAmiConfig(),
+		testAccAvailableAZsNoOptInConfig(),
+		testAccAvailableEc2InstanceTypeForRegion("t3.micro", "t2.micro"),
+		fmt.Sprintf(`
+resource "aws_launch_template" "test" {
+  image_id      = data.aws_ami.amzn-ami-minimal-hvm-ebs.id
+  instance_type = data.aws_ec2_instance_type_offering.available.instance_type
+  name          = %[1]q
+
+  block_device_mappings {
+    device_name = "/dev/xvda"
+
+    ebs {
+      iops        = 4000
+      throughput  = 500
+      volume_size = 15
+      volume_type = "gp3"
+    }
+  }
+}
+
+# Creating an AutoScaling Group verifies the launch template
+# ValidationError: You must use a valid fully-formed launch template. the encrypted flag cannot be specified since device /dev/sda1 has a snapshot specified.
+resource "aws_autoscaling_group" "test" {
+  availability_zones = [data.aws_availability_zones.available.names[0]]
+  desired_capacity   = 0
+  max_size           = 0
+  min_size           = 0
+  name               = %[1]q
+
+  launch_template {
+    id      = aws_launch_template.test.id
+    version = aws_launch_template.test.default_version
+  }
+}
+`, rName))
+}
+
 func testAccAWSLaunchTemplateConfig_NetworkInterfaces_DeleteOnTermination(rName string, deleteOnTermination string) string {
 	return fmt.Sprintf(`
 resource "aws_launch_template" "test" {
diff --git a/website/docs/r/launch_template.html.markdown b/website/docs/r/launch_template.html.markdown
index 6adf5f4c5ac..82a64eb6dd9 100644
--- a/website/docs/r/launch_template.html.markdown
+++ b/website/docs/r/launch_template.html.markdown
@@ -179,8 +179,9 @@ The `ebs` block supports the following:
 * `kms_key_id` - The ARN of the AWS Key Management Service (AWS KMS) customer master key (CMK) to use when creating the encrypted volume.
  `encrypted` must be set to `true` when this is set.
 * `snapshot_id` - The Snapshot ID to mount.
+* `thoughput` - The throughput to provision for a `gp3` volume, with a maximum of 1,000 MiB/s.
 * `volume_size` - The size of the volume in gigabytes.
-* `volume_type` - The type of volume. Can be `"standard"`, `"gp2"`, `"io1"` or `"io2"`. (Default: `"standard"`).
+* `volume_type` - The volume type. Can be `standard`, `gp2`, `gp3`, `io1`, `io2`, `sc1` or `st1` (Default: `gp2`).
 
 ### Capacity Reservation Specification