diff --git a/scripts/avg_checkpoints.py b/scripts/avg_checkpoints.py
new file mode 100755
index 000000000..5cf330a74
--- /dev/null
+++ b/scripts/avg_checkpoints.py
@@ -0,0 +1,80 @@
+#!/usr/bin/env python3
+"""Compute the average of each variable in a list of checkpoint files.
+
+Given a list of model checkpoints, it generates a new checkpoint with
+parameters which are the arithmetic average of them.
+
+Based on a script from Tensor2Tensor:
+https://github.com/tensorflow/tensor2tensor/blob/master/tensor2tensor/utils/avg_checkpoints.py
+"""
+
+import argparse
+import os
+import re
+
+import numpy as np
+import tensorflow as tf
+
+from neuralmonkey.logging import log
+
+
+IGNORED_PATTERNS = ["global_step"]
+
+
+def main() -> None:
+    parser = argparse.ArgumentParser(description=__doc__)
+    parser.add_argument("checkpoints", type=str, nargs="+",
+                        help="Space-separated list of checkpoints to average.")
+    parser.add_argument("output_path", type=str,
+                        help="Path to output the averaged checkpoint to.")
+    args = parser.parse_args()
+
+    non_existing_chckpoints = []
+    for ckpt in args.checkpoints:
+        if not os.path.exists("{}.index".format(ckpt)):
+            non_existing_chckpoints.append(ckpt)
+    if non_existing_chckpoints:
+        raise ValueError(
+            "Provided checkpoints do not exist: {}".format(
+                ", ".join(non_existing_chckpoints)))
+
+    # Read variables from all checkpoints and average them.
+    log("Getting list of variables")
+    var_list = tf.contrib.framework.list_variables(args.checkpoints[0])
+    var_values, var_dtypes = {}, {}
+    for (name, shape) in var_list:
+        if not any(re.match(pat, name) for pat in IGNORED_PATTERNS):
+            var_values[name] = np.zeros(shape)
+    for checkpoint in args.checkpoints:
+        log("Reading from checkpoint {}".format(checkpoint))
+        reader = tf.contrib.framework.load_checkpoint(checkpoint)
+        for name in var_values:
+            tensor = reader.get_tensor(name)
+            var_dtypes[name] = tensor.dtype
+            var_values[name] += tensor
+    for name in var_values:    # Average.
+        var_values[name] /= len(args.checkpoints)
+
+    tf_vars = [
+        tf.get_variable(v, shape=var_values[v].shape, dtype=var_dtypes[name])
+        for v in var_values
+    ]
+    placeholders = [tf.placeholder(v.dtype, shape=v.shape) for v in tf_vars]
+    assign_ops = [tf.assign(v, p) for (v, p) in zip(tf_vars, placeholders)]
+    global_step = tf.Variable(
+            0, name="global_step", trainable=False, dtype=tf.int64)
+    saver = tf.train.Saver()
+
+    # Build a model only with variables, set them to the average values.
+    with tf.Session() as sess:
+        sess.run(tf.global_variables_initializer())
+        for p, assign_op, (name, value) in zip(placeholders, assign_ops,
+                                               var_values.items()):
+            sess.run(assign_op, {p: value})
+        saver.save(sess, args.output_path, global_step=global_step)
+
+    log("Averaged checkpoints saved in {}".format(args.output_path))
+
+
+if __name__ == "__main__":
+    main()