diff --git a/packages/eslint-plugin/docs/rules/restrict-plus-operands.md b/packages/eslint-plugin/docs/rules/restrict-plus-operands.md
index 1efffa83e69..7b5af55a84f 100644
--- a/packages/eslint-plugin/docs/rules/restrict-plus-operands.md
+++ b/packages/eslint-plugin/docs/rules/restrict-plus-operands.md
@@ -16,6 +16,37 @@ var foo = 1n + 1;
 
 ## Options
 
+This rule has an object option:
+
+- `"checkCompoundAssignments": false`: (default) does not check compound assignments (`+=`)
+- `"checkCompoundAssignments": true`
+
+### checkCompoundAssignments
+
+Examples of **incorrect** code for the `{ "checkCompoundAssignments": true }` option:
+
+```ts
+/*eslint @typescript-eslint/restrict-plus-operands: ["error", { "checkCompoundAssignments": true }]*/
+
+let foo: string | undefined;
+foo += 'some data';
+
+let bar: string = '';
+bar += 0;
+```
+
+Examples of **correct** code for the `{ "checkCompoundAssignments": true }` option:
+
+```ts
+/*eslint @typescript-eslint/restrict-plus-operands: ["error", { "checkCompoundAssignments": true }]*/
+
+let foo: number = 0;
+foo += 1;
+
+let bar = '';
+bar += 'test';
+```
+
 ```json
 {
   "@typescript-eslint/restrict-plus-operands": "error"
diff --git a/packages/eslint-plugin/src/rules/restrict-plus-operands.ts b/packages/eslint-plugin/src/rules/restrict-plus-operands.ts
index 1f715f1f902..c41587a169a 100644
--- a/packages/eslint-plugin/src/rules/restrict-plus-operands.ts
+++ b/packages/eslint-plugin/src/rules/restrict-plus-operands.ts
@@ -2,7 +2,14 @@ import { TSESTree } from '@typescript-eslint/experimental-utils';
 import ts from 'typescript';
 import * as util from '../util';
 
-export default util.createRule({
+type Options = [
+  {
+    checkCompoundAssignments?: boolean;
+  },
+];
+type MessageIds = 'notNumbers' | 'notStrings' | 'notBigInts';
+
+export default util.createRule<Options, MessageIds>({
   name: 'restrict-plus-operands',
   meta: {
     type: 'problem',
@@ -20,12 +27,25 @@ export default util.createRule({
         "Operands of '+' operation must either be both strings or both numbers. Consider using a template literal.",
       notBigInts: "Operands of '+' operation must be both bigints.",
     },
-    schema: [],
+    schema: [
+      {
+        type: 'object',
+        additionalProperties: false,
+        properties: {
+          checkCompoundAssignments: {
+            type: 'boolean',
+          },
+        },
+      },
+    ],
   },
-  defaultOptions: [],
-  create(context) {
+  defaultOptions: [
+    {
+      checkCompoundAssignments: false,
+    },
+  ],
+  create(context, [{ checkCompoundAssignments }]) {
     const service = util.getParserServices(context);
-
     const typeChecker = service.program.getTypeChecker();
 
     type BaseLiteral = 'string' | 'number' | 'bigint' | 'invalid';
@@ -83,32 +103,41 @@ export default util.createRule({
       return getBaseTypeOfLiteralType(type);
     }
 
-    return {
-      "BinaryExpression[operator='+']"(node: TSESTree.BinaryExpression): void {
-        const leftType = getNodeType(node.left);
-        const rightType = getNodeType(node.right);
+    function checkPlusOperands(
+      node: TSESTree.BinaryExpression | TSESTree.AssignmentExpression,
+    ): void {
+      const leftType = getNodeType(node.left);
+      const rightType = getNodeType(node.right);
 
-        if (
-          leftType === 'invalid' ||
-          rightType === 'invalid' ||
-          leftType !== rightType
-        ) {
-          if (leftType === 'string' || rightType === 'string') {
-            context.report({
-              node,
-              messageId: 'notStrings',
-            });
-          } else if (leftType === 'bigint' || rightType === 'bigint') {
-            context.report({
-              node,
-              messageId: 'notBigInts',
-            });
-          } else {
-            context.report({
-              node,
-              messageId: 'notNumbers',
-            });
-          }
+      if (
+        leftType === 'invalid' ||
+        rightType === 'invalid' ||
+        leftType !== rightType
+      ) {
+        if (leftType === 'string' || rightType === 'string') {
+          context.report({
+            node,
+            messageId: 'notStrings',
+          });
+        } else if (leftType === 'bigint' || rightType === 'bigint') {
+          context.report({
+            node,
+            messageId: 'notBigInts',
+          });
+        } else {
+          context.report({
+            node,
+            messageId: 'notNumbers',
+          });
+        }
+      }
+    }
+
+    return {
+      "BinaryExpression[operator='+']": checkPlusOperands,
+      "AssignmentExpression[operator='+=']"(node): void {
+        if (checkCompoundAssignments) {
+          checkPlusOperands(node);
         }
       },
     };
diff --git a/packages/eslint-plugin/tests/rules/restrict-plus-operands.test.ts b/packages/eslint-plugin/tests/rules/restrict-plus-operands.test.ts
index 44583a202a1..5d979706f84 100644
--- a/packages/eslint-plugin/tests/rules/restrict-plus-operands.test.ts
+++ b/packages/eslint-plugin/tests/rules/restrict-plus-operands.test.ts
@@ -81,6 +81,28 @@ function foo<T extends 1>(a: T) {
     return a + 1;
 }
     `,
+    {
+      code: `
+let foo: number = 0;
+foo += 1;
+    `,
+      options: [
+        {
+          checkCompoundAssignments: false,
+        },
+      ],
+    },
+    {
+      code: `
+let foo: number = 0;
+foo += "string";
+    `,
+      options: [
+        {
+          checkCompoundAssignments: false,
+        },
+      ],
+    },
   ],
   invalid: [
     {
@@ -383,5 +405,41 @@ function foo<T extends 1>(a: T) {
         },
       ],
     },
+    {
+      code: `
+let foo: string | undefined;
+foo += "some data";
+      `,
+      options: [
+        {
+          checkCompoundAssignments: true,
+        },
+      ],
+      errors: [
+        {
+          messageId: 'notStrings',
+          line: 3,
+          column: 1,
+        },
+      ],
+    },
+    {
+      code: `
+let foo = '';
+foo += 0;
+      `,
+      options: [
+        {
+          checkCompoundAssignments: true,
+        },
+      ],
+      errors: [
+        {
+          messageId: 'notStrings',
+          line: 3,
+          column: 1,
+        },
+      ],
+    },
   ],
 });