diff --git a/packages/@headlessui-react/CHANGELOG.md b/packages/@headlessui-react/CHANGELOG.md
index 4c69e2df21..b27cc57231 100644
--- a/packages/@headlessui-react/CHANGELOG.md
+++ b/packages/@headlessui-react/CHANGELOG.md
@@ -37,6 +37,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 - Ensure enter transitions work when using `unmount={false}` ([#1811](https://github.com/tailwindlabs/headlessui/pull/1811))
 - Improve accessibility when announcing `Listbox.Option` and `Combobox.Option` components ([#1812](https://github.com/tailwindlabs/headlessui/pull/1812))
 - Fix `ref` stealing from children ([#1820](https://github.com/tailwindlabs/headlessui/pull/1820))
+- Expose the `value` from the `Combobox` and `Listbox` components render prop ([#1822](https://github.com/tailwindlabs/headlessui/pull/1822))
 
 ## [1.6.6] - 2022-07-07
 
diff --git a/packages/@headlessui-react/src/components/combobox/combobox.test.tsx b/packages/@headlessui-react/src/components/combobox/combobox.test.tsx
index 05946bfa17..cc67bc71bf 100644
--- a/packages/@headlessui-react/src/components/combobox/combobox.test.tsx
+++ b/packages/@headlessui-react/src/components/combobox/combobox.test.tsx
@@ -684,7 +684,7 @@ describe('Rendering', () => {
         assertComboboxButton({
           state: ComboboxState.InvisibleUnmounted,
           attributes: { id: 'headlessui-combobox-button-2' },
-          textContent: JSON.stringify({ open: false, disabled: false }),
+          textContent: JSON.stringify({ open: false, disabled: false, value: 'test' }),
         })
         assertComboboxList({ state: ComboboxState.InvisibleUnmounted })
 
@@ -693,7 +693,7 @@ describe('Rendering', () => {
         assertComboboxButton({
           state: ComboboxState.Visible,
           attributes: { id: 'headlessui-combobox-button-2' },
-          textContent: JSON.stringify({ open: true, disabled: false }),
+          textContent: JSON.stringify({ open: true, disabled: false, value: 'test' }),
         })
         assertComboboxList({ state: ComboboxState.Visible })
       })
@@ -719,7 +719,7 @@ describe('Rendering', () => {
         assertComboboxButton({
           state: ComboboxState.InvisibleUnmounted,
           attributes: { id: 'headlessui-combobox-button-2' },
-          textContent: JSON.stringify({ open: false, disabled: false }),
+          textContent: JSON.stringify({ open: false, disabled: false, value: 'test' }),
         })
         assertComboboxList({ state: ComboboxState.InvisibleUnmounted })
 
@@ -728,7 +728,7 @@ describe('Rendering', () => {
         assertComboboxButton({
           state: ComboboxState.Visible,
           attributes: { id: 'headlessui-combobox-button-2' },
-          textContent: JSON.stringify({ open: true, disabled: false }),
+          textContent: JSON.stringify({ open: true, disabled: false, value: 'test' }),
         })
         assertComboboxList({ state: ComboboxState.Visible })
       })
@@ -1036,6 +1036,75 @@ describe('Rendering', () => {
       expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'charlie' })
     })
 
+    it('should expose the value via the render prop', async () => {
+      let handleSubmission = jest.fn()
+
+      let { getByTestId } = render(
+        <form
+          onSubmit={(e) => {
+            e.preventDefault()
+            handleSubmission(Object.fromEntries(new FormData(e.target as HTMLFormElement)))
+          }}
+        >
+          <Combobox name="assignee">
+            {({ value }) => (
+              <>
+                <div data-testid="value">{value}</div>
+                <Combobox.Input onChange={NOOP} />
+                <Combobox.Button>
+                  {({ value }) => (
+                    <>
+                      Trigger
+                      <div data-testid="value-2">{value}</div>
+                    </>
+                  )}
+                </Combobox.Button>
+                <Combobox.Options>
+                  <Combobox.Option value="alice">Alice</Combobox.Option>
+                  <Combobox.Option value="bob">Bob</Combobox.Option>
+                  <Combobox.Option value="charlie">Charlie</Combobox.Option>
+                </Combobox.Options>
+              </>
+            )}
+          </Combobox>
+          <button id="submit">submit</button>
+        </form>
+      )
+
+      await click(document.getElementById('submit'))
+
+      // No values
+      expect(handleSubmission).toHaveBeenLastCalledWith({})
+
+      // Open combobox
+      await click(getComboboxButton())
+
+      // Choose alice
+      await click(getComboboxOptions()[0])
+      expect(getByTestId('value')).toHaveTextContent('alice')
+      expect(getByTestId('value-2')).toHaveTextContent('alice')
+
+      // Submit
+      await click(document.getElementById('submit'))
+
+      // Alice should be submitted
+      expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'alice' })
+
+      // Open combobox
+      await click(getComboboxButton())
+
+      // Choose charlie
+      await click(getComboboxOptions()[2])
+      expect(getByTestId('value')).toHaveTextContent('charlie')
+      expect(getByTestId('value-2')).toHaveTextContent('charlie')
+
+      // Submit
+      await click(document.getElementById('submit'))
+
+      // Charlie should be submitted
+      expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'charlie' })
+    })
+
     it('should be possible to provide a default value', async () => {
       let handleSubmission = jest.fn()
 
diff --git a/packages/@headlessui-react/src/components/combobox/combobox.tsx b/packages/@headlessui-react/src/components/combobox/combobox.tsx
index 9e03a76d5d..c2c1338838 100644
--- a/packages/@headlessui-react/src/components/combobox/combobox.tsx
+++ b/packages/@headlessui-react/src/components/combobox/combobox.tsx
@@ -815,6 +815,7 @@ let DEFAULT_BUTTON_TAG = 'button' as const
 interface ButtonRenderPropArg {
   open: boolean
   disabled: boolean
+  value: any
 }
 type ButtonPropsWeControl =
   | 'id'
@@ -896,7 +897,11 @@ let Button = forwardRefWithAs(function Button<TTag extends ElementType = typeof
   }, [data.labelRef.current, id])
 
   let slot = useMemo<ButtonRenderPropArg>(
-    () => ({ open: data.comboboxState === ComboboxState.Open, disabled: data.disabled }),
+    () => ({
+      open: data.comboboxState === ComboboxState.Open,
+      disabled: data.disabled,
+      value: data.value,
+    }),
     [data]
   )
   let theirProps = props
diff --git a/packages/@headlessui-react/src/components/listbox/listbox.test.tsx b/packages/@headlessui-react/src/components/listbox/listbox.test.tsx
index 1cb824903c..94742c0bdd 100644
--- a/packages/@headlessui-react/src/components/listbox/listbox.test.tsx
+++ b/packages/@headlessui-react/src/components/listbox/listbox.test.tsx
@@ -864,6 +864,74 @@ describe('Rendering', () => {
       expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'charlie' })
     })
 
+    it('should expose the value via the render prop', async () => {
+      let handleSubmission = jest.fn()
+
+      let { getByTestId } = render(
+        <form
+          onSubmit={(e) => {
+            e.preventDefault()
+            handleSubmission(Object.fromEntries(new FormData(e.target as HTMLFormElement)))
+          }}
+        >
+          <Listbox name="assignee">
+            {({ value }) => (
+              <>
+                <div data-testid="value">{value}</div>
+                <Listbox.Button>
+                  {({ value }) => (
+                    <>
+                      Trigger
+                      <div data-testid="value-2">{value}</div>
+                    </>
+                  )}
+                </Listbox.Button>
+                <Listbox.Options>
+                  <Listbox.Option value="alice">Alice</Listbox.Option>
+                  <Listbox.Option value="bob">Bob</Listbox.Option>
+                  <Listbox.Option value="charlie">Charlie</Listbox.Option>
+                </Listbox.Options>
+              </>
+            )}
+          </Listbox>
+          <button id="submit">submit</button>
+        </form>
+      )
+
+      await click(document.getElementById('submit'))
+
+      // No values
+      expect(handleSubmission).toHaveBeenLastCalledWith({})
+
+      // Open listbox
+      await click(getListboxButton())
+
+      // Choose alice
+      await click(getListboxOptions()[0])
+      expect(getByTestId('value')).toHaveTextContent('alice')
+      expect(getByTestId('value-2')).toHaveTextContent('alice')
+
+      // Submit
+      await click(document.getElementById('submit'))
+
+      // Alice should be submitted
+      expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'alice' })
+
+      // Open listbox
+      await click(getListboxButton())
+
+      // Choose charlie
+      await click(getListboxOptions()[2])
+      expect(getByTestId('value')).toHaveTextContent('charlie')
+      expect(getByTestId('value-2')).toHaveTextContent('charlie')
+
+      // Submit
+      await click(document.getElementById('submit'))
+
+      // Charlie should be submitted
+      expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'charlie' })
+    })
+
     it('should be possible to provide a default value', async () => {
       let handleSubmission = jest.fn()
 
diff --git a/packages/@headlessui-react/src/components/listbox/listbox.tsx b/packages/@headlessui-react/src/components/listbox/listbox.tsx
index 2cfcf032fc..6d9250daab 100644
--- a/packages/@headlessui-react/src/components/listbox/listbox.tsx
+++ b/packages/@headlessui-react/src/components/listbox/listbox.tsx
@@ -299,10 +299,10 @@ function stateReducer(state: StateDefinition, action: Actions) {
 // ---
 
 let DEFAULT_LISTBOX_TAG = Fragment
-interface ListboxRenderPropArg<TType> {
+interface ListboxRenderPropArg<T> {
   open: boolean
   disabled: boolean
-  value: TType
+  value: T
 }
 
 let ListboxRoot = forwardRefWithAs(function Listbox<
@@ -461,6 +461,7 @@ let DEFAULT_BUTTON_TAG = 'button' as const
 interface ButtonRenderPropArg {
   open: boolean
   disabled: boolean
+  value: any
 }
 type ButtonPropsWeControl =
   | 'id'
@@ -537,7 +538,11 @@ let Button = forwardRefWithAs(function Button<TTag extends ElementType = typeof
   }, [state.labelRef.current, id])
 
   let slot = useMemo<ButtonRenderPropArg>(
-    () => ({ open: state.listboxState === ListboxStates.Open, disabled: state.disabled }),
+    () => ({
+      open: state.listboxState === ListboxStates.Open,
+      disabled: state.disabled,
+      value: state.propsRef.current.value,
+    }),
     [state]
   )
   let theirProps = props
diff --git a/packages/@headlessui-vue/CHANGELOG.md b/packages/@headlessui-vue/CHANGELOG.md
index cd7fdf2af2..12ec43a78a 100644
--- a/packages/@headlessui-vue/CHANGELOG.md
+++ b/packages/@headlessui-vue/CHANGELOG.md
@@ -31,6 +31,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 - Only restore focus to the `MenuButton` if necessary when activating a `MenuOption` ([#1782](https://github.com/tailwindlabs/headlessui/pull/1782))
 - Don't scroll when wrapping around in focus trap ([#1789](https://github.com/tailwindlabs/headlessui/pull/1789))
 - Improve accessibility when announcing `ListboxOption` and `ComboboxOption` components ([#1812](https://github.com/tailwindlabs/headlessui/pull/1812))
+- Expose the `value` from the `Combobox` and `Listbox` components slot ([#1822](https://github.com/tailwindlabs/headlessui/pull/1822))
 
 ## [1.6.7] - 2022-07-12
 
diff --git a/packages/@headlessui-vue/src/components/combobox/combobox.test.ts b/packages/@headlessui-vue/src/components/combobox/combobox.test.ts
index 9b307d5eab..014c15ed55 100644
--- a/packages/@headlessui-vue/src/components/combobox/combobox.test.ts
+++ b/packages/@headlessui-vue/src/components/combobox/combobox.test.ts
@@ -713,7 +713,7 @@ describe('Rendering', () => {
         assertComboboxButton({
           state: ComboboxState.InvisibleUnmounted,
           attributes: { id: 'headlessui-combobox-button-2' },
-          textContent: JSON.stringify({ open: false, disabled: false }),
+          textContent: JSON.stringify({ open: false, disabled: false, value: null }),
         })
         assertComboboxList({ state: ComboboxState.InvisibleUnmounted })
 
@@ -722,7 +722,7 @@ describe('Rendering', () => {
         assertComboboxButton({
           state: ComboboxState.Visible,
           attributes: { id: 'headlessui-combobox-button-2' },
-          textContent: JSON.stringify({ open: true, disabled: false }),
+          textContent: JSON.stringify({ open: true, disabled: false, value: null }),
         })
         assertComboboxList({ state: ComboboxState.Visible })
       })
@@ -751,7 +751,7 @@ describe('Rendering', () => {
         assertComboboxButton({
           state: ComboboxState.InvisibleUnmounted,
           attributes: { id: 'headlessui-combobox-button-2' },
-          textContent: JSON.stringify({ open: false, disabled: false }),
+          textContent: JSON.stringify({ open: false, disabled: false, value: null }),
         })
         assertComboboxList({ state: ComboboxState.InvisibleUnmounted })
 
@@ -760,7 +760,7 @@ describe('Rendering', () => {
         assertComboboxButton({
           state: ComboboxState.Visible,
           attributes: { id: 'headlessui-combobox-button-2' },
-          textContent: JSON.stringify({ open: true, disabled: false }),
+          textContent: JSON.stringify({ open: true, disabled: false, value: null }),
         })
         assertComboboxList({ state: ComboboxState.Visible })
       })
@@ -1125,6 +1125,70 @@ describe('Rendering', () => {
       expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'charlie' })
     })
 
+    it('should expose the value via the render prop', async () => {
+      let handleSubmission = jest.fn()
+
+      renderTemplate({
+        template: html`
+          <form @submit="handleSubmit">
+            <Combobox name="assignee" v-slot="{ value }">
+              <div data-testid="value">{{value}}</div>
+              <ComboboxInput />
+              <ComboboxButton v-slot="{ value }">
+                Trigger
+                <div data-testid="value-2">{{value}}</div>
+              </ComboboxButton>
+              <ComboboxOptions>
+                <ComboboxOption value="alice">Alice</ComboboxOption>
+                <ComboboxOption value="bob">Bob</ComboboxOption>
+                <ComboboxOption value="charlie">Charlie</ComboboxOption>
+              </ComboboxOptions>
+            </Combobox>
+            <button id="submit">submit</button>
+          </form>
+        `,
+        setup: () => ({
+          handleSubmit(e: SubmitEvent) {
+            e.preventDefault()
+            handleSubmission(Object.fromEntries(new FormData(e.target as HTMLFormElement)))
+          },
+        }),
+      })
+
+      await click(document.getElementById('submit'))
+
+      // No values
+      expect(handleSubmission).toHaveBeenLastCalledWith({})
+
+      // Open combobox
+      await click(getComboboxButton())
+
+      // Choose alice
+      await click(getComboboxOptions()[0])
+      expect(document.querySelector('[data-testid="value"]')).toHaveTextContent('alice')
+      expect(document.querySelector('[data-testid="value-2"]')).toHaveTextContent('alice')
+
+      // Submit
+      await click(document.getElementById('submit'))
+
+      // Alice should be submitted
+      expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'alice' })
+
+      // Open combobox
+      await click(getComboboxButton())
+
+      // Choose charlie
+      await click(getComboboxOptions()[2])
+      expect(document.querySelector('[data-testid="value"]')).toHaveTextContent('charlie')
+      expect(document.querySelector('[data-testid="value-2"]')).toHaveTextContent('charlie')
+
+      // Submit
+      await click(document.getElementById('submit'))
+
+      // Charlie should be submitted
+      expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'charlie' })
+    })
+
     it('should be possible to provide a default value', async () => {
       let handleSubmission = jest.fn()
 
diff --git a/packages/@headlessui-vue/src/components/combobox/combobox.ts b/packages/@headlessui-vue/src/components/combobox/combobox.ts
index 159a8d3b6c..b9c73b7127 100644
--- a/packages/@headlessui-vue/src/components/combobox/combobox.ts
+++ b/packages/@headlessui-vue/src/components/combobox/combobox.ts
@@ -413,6 +413,7 @@ export let Combobox = defineComponent({
         disabled,
         activeIndex: api.activeOptionIndex.value,
         activeOption: activeOption.value,
+        value: value.value,
       }
 
       return h(Fragment, [
@@ -563,6 +564,7 @@ export let ComboboxButton = defineComponent({
       let slot = {
         open: api.comboboxState.value === ComboboxStates.Open,
         disabled: api.disabled.value,
+        value: api.value.value,
       }
       let ourProps = {
         ref: api.buttonRef,
diff --git a/packages/@headlessui-vue/src/components/listbox/listbox.test.tsx b/packages/@headlessui-vue/src/components/listbox/listbox.test.tsx
index c09f101f52..b9eb47d135 100644
--- a/packages/@headlessui-vue/src/components/listbox/listbox.test.tsx
+++ b/packages/@headlessui-vue/src/components/listbox/listbox.test.tsx
@@ -556,7 +556,7 @@ describe('Rendering', () => {
         assertListboxButton({
           state: ListboxState.InvisibleUnmounted,
           attributes: { id: 'headlessui-listbox-button-1' },
-          textContent: JSON.stringify({ open: false, disabled: false }),
+          textContent: JSON.stringify({ open: false, disabled: false, value: null }),
         })
         assertListbox({ state: ListboxState.InvisibleUnmounted })
 
@@ -565,7 +565,7 @@ describe('Rendering', () => {
         assertListboxButton({
           state: ListboxState.Visible,
           attributes: { id: 'headlessui-listbox-button-1' },
-          textContent: JSON.stringify({ open: true, disabled: false }),
+          textContent: JSON.stringify({ open: true, disabled: false, value: null }),
         })
         assertListbox({ state: ListboxState.Visible })
       })
@@ -593,7 +593,7 @@ describe('Rendering', () => {
         assertListboxButton({
           state: ListboxState.InvisibleUnmounted,
           attributes: { id: 'headlessui-listbox-button-1' },
-          textContent: JSON.stringify({ open: false, disabled: false }),
+          textContent: JSON.stringify({ open: false, disabled: false, value: null }),
         })
         assertListbox({ state: ListboxState.InvisibleUnmounted })
 
@@ -602,7 +602,7 @@ describe('Rendering', () => {
         assertListboxButton({
           state: ListboxState.Visible,
           attributes: { id: 'headlessui-listbox-button-1' },
-          textContent: JSON.stringify({ open: true, disabled: false }),
+          textContent: JSON.stringify({ open: true, disabled: false, value: null }),
         })
         assertListbox({ state: ListboxState.Visible })
       })
@@ -952,6 +952,69 @@ describe('Rendering', () => {
       expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'charlie' })
     })
 
+    it('should expose the value via the render prop', async () => {
+      let handleSubmission = jest.fn()
+
+      renderTemplate({
+        template: html`
+          <form @submit="handleSubmit">
+            <Listbox name="assignee" v-slot="{ value }">
+              <div data-testid="value">{{value}}</div>
+              <ListboxButton v-slot="{ value }">
+                Trigger
+                <div data-testid="value-2">{{value}}</div>
+              </ListboxButton>
+              <ListboxOptions>
+                <ListboxOption value="alice">Alice</ListboxOption>
+                <ListboxOption value="bob">Bob</ListboxOption>
+                <ListboxOption value="charlie">Charlie</ListboxOption>
+              </ListboxOptions>
+            </Listbox>
+            <button id="submit">submit</button>
+          </form>
+        `,
+        setup: () => ({
+          handleSubmit(e: SubmitEvent) {
+            e.preventDefault()
+            handleSubmission(Object.fromEntries(new FormData(e.target as HTMLFormElement)))
+          },
+        }),
+      })
+
+      await click(document.getElementById('submit'))
+
+      // No values
+      expect(handleSubmission).toHaveBeenLastCalledWith({})
+
+      // Open listbox
+      await click(getListboxButton())
+
+      // Choose alice
+      await click(getListboxOptions()[0])
+      expect(document.querySelector('[data-testid="value"]')).toHaveTextContent('alice')
+      expect(document.querySelector('[data-testid="value-2"]')).toHaveTextContent('alice')
+
+      // Submit
+      await click(document.getElementById('submit'))
+
+      // Alice should be submitted
+      expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'alice' })
+
+      // Open listbox
+      await click(getListboxButton())
+
+      // Choose charlie
+      await click(getListboxOptions()[2])
+      expect(document.querySelector('[data-testid="value"]')).toHaveTextContent('charlie')
+      expect(document.querySelector('[data-testid="value-2"]')).toHaveTextContent('charlie')
+
+      // Submit
+      await click(document.getElementById('submit'))
+
+      // Charlie should be submitted
+      expect(handleSubmission).toHaveBeenLastCalledWith({ assignee: 'charlie' })
+    })
+
     it('should be possible to provide a default value', async () => {
       let handleSubmission = jest.fn()
 
diff --git a/packages/@headlessui-vue/src/components/listbox/listbox.ts b/packages/@headlessui-vue/src/components/listbox/listbox.ts
index 44cb3b1c0a..70bacc15c2 100644
--- a/packages/@headlessui-vue/src/components/listbox/listbox.ts
+++ b/packages/@headlessui-vue/src/components/listbox/listbox.ts
@@ -330,7 +330,7 @@ export let Listbox = defineComponent({
     return () => {
       let { name, modelValue, disabled, ...theirProps } = props
 
-      let slot = { open: listboxState.value === ListboxStates.Open, disabled }
+      let slot = { open: listboxState.value === ListboxStates.Open, disabled, value: value.value }
 
       return h(Fragment, [
         ...(name != null && value.value != null
@@ -475,7 +475,9 @@ export let ListboxButton = defineComponent({
       let slot = {
         open: api.listboxState.value === ListboxStates.Open,
         disabled: api.disabled.value,
+        value: api.value.value,
       }
+
       let ourProps = {
         ref: api.buttonRef,
         id,