diff --git a/doc/api.txt b/doc/api.txt
index 9f0c79d566e..8f2ce20035a 100644
--- a/doc/api.txt
+++ b/doc/api.txt
@@ -215,6 +215,7 @@ emit anymore events.
 | Event       | Parameters       | Notes
 | +"success"+ | (depends)        |
 | +"error"+   | (depends)        |
+| +"cancel"+  | (depends)        |
 |=========================================================
 
 +promise.addCallback(listener)+ ::
@@ -223,6 +224,9 @@ Adds a listener for the +"success"+ event. Returns the same promise object.
 +promise.addErrback(listener)+ ::
 Adds a listener for the +"error"+ event. Returns the same promise object.
 
++promise.addCancelback(listener)+ ::
+Adds a listener for the +"cancel"+ event. Returns the same promise object.
+
 +promise.emitSuccess(arg1, arg2, ...)+ ::
 If you created the promise (by doing +new node.Promise()+) then call
 +emitSuccess+ to emit the +"success"+ event with the given arguments. 
@@ -233,10 +237,21 @@ the moment due to a bug; use +emitSuccess+ instead.)
 +promise.emitError(arg1, arg2, ...)+ ::
 Emits the +"error"+ event.
 
++promise.emitCancel(arg1, arg2, ...)+ ::
+Emits the +"cancel"+ event. You may still get a +"success"+ or +"error"+
+callback if the promise giver does not handle the cancel event. Use
++promise.cancel()+ to ignore any later events.
+
++promise.cancel()+ ::
+Clears all +"success"+ and +"error"+ event listeners from the promise, then
+emits the +"cancel"+ event. Whether or not the promise is actually canceled
+or not depends on the promise giver. This also clears Promise.timeout() if one
+was set.
+
 +promise.timeout(timeout = undefined)+ ::
 If the +timeout+ parameter is provided, the promise will emit an +"error"+
 event after the given amount of millseconds. The timeout is canceled by any
-+"success"+ or +"error"+ event being emitted by the Promise.
++"success"+, +"error"+ or +"cancel"+ event being emitted by the Promise.
 +
 To tell apart a timeout from a regular "error" event, use the following test:
 +
diff --git a/src/events.js b/src/events.js
index e145649dc64..e26d6de0e6c 100644
--- a/src/events.js
+++ b/src/events.js
@@ -30,14 +30,42 @@ node.Promise.prototype.timeout = function(timeout) {
     clearTimeout(this._timer);
   }
 
+  var promiseComplete = false;
+  var onComplete = function() {
+    promiseComplete = true;
+  };
+
+  this
+    .addCallback(onComplete)
+    .addCancelback(onComplete)
+    .addErrback(onComplete);
+
   var self = this
   this._timer = setTimeout(function() {
+    if (promiseComplete) {
+      return;
+    }
+
     self.emitError(new Error('timeout'));
   }, this._timeoutDuration);
 
   return this;
 };
 
+node.Promise.prototype.cancel = function() {
+  this._events['success'] = [];
+  this._events['error'] = [];
+
+  this.emitCancel();
+};
+
+node.Promise.prototype.emitCancel = function() {
+  var args = Array.prototype.slice.call(arguments);
+  args.unshift('cancel');
+
+  this.emit.apply(this, args);
+};
+
 node.Promise.prototype.addCallback = function (listener) {
   this.addListener("success", listener);
   return this;
@@ -48,6 +76,11 @@ node.Promise.prototype.addErrback = function (listener) {
   return this;
 };
 
+node.Promise.prototype.addCancelback = function (listener) {
+  this.addListener("cancel", listener);
+  return this;
+};
+
 node.Promise.prototype.wait = function () {
   var ret;
   var had_error = false;
diff --git a/test/mjsunit/test-promise-timeout.js b/test/mjsunit/test-promise-timeout.js
index 39d188797bb..9bf5e195336 100644
--- a/test/mjsunit/test-promise-timeout.js
+++ b/test/mjsunit/test-promise-timeout.js
@@ -29,6 +29,55 @@ try {
   timeouts++;
 }
 
+var successPromise = new node.Promise();
+successPromise.timeout(500);
+setTimeout(function() {
+  successPromise.emitSuccess();
+}, 250);
+
+successPromise.addErrback(function() {
+  assertUnreachable('addErrback should not fire if there is no timeout');
+});
+
+var errorPromise = new node.Promise();
+errorPromise.timeout(500);
+setTimeout(function() {
+  errorPromise.emitError(new Error('intentional'));
+}, 250);
+
+errorPromise.addErrback(function(e) {
+  assertInstanceof(e, Error);
+  assertEquals('intentional', e.message);
+});
+
+var cancelPromise = new node.Promise();
+cancelPromise.timeout(500);
+setTimeout(function() {
+  cancelPromise.cancel();
+}, 250);
+
+setTimeout(function() {
+  cancelPromise.emitSuccess('should be ignored');
+}, 400);
+
+cancelPromise.addCallback(function(e) {
+  assertUnreachable('addCallback should not fire if the promise is canceled');
+});
+
+cancelPromise.addErrback(function(e) {
+  assertUnreachable('addErrback should not fire if the promise is canceled');
+});
+
+var cancelTimeoutPromise = new node.Promise();
+cancelTimeoutPromise.timeout(500);
+setTimeout(function() {
+  cancelPromise.emitCancel();
+}, 250);
+
+cancelPromise.addErrback(function(e) {
+  assertUnreachable('addErrback should not fire after a cancel event');
+});
+
 process.addListener('exit', function() {
   assertEquals(2, timeouts);
 });
\ No newline at end of file