diff --git a/tokio-util/src/sync/cancellation_token.rs b/tokio-util/src/sync/cancellation_token.rs
index 66fbf1a73e7..f4f0ce9f9b8 100644
--- a/tokio-util/src/sync/cancellation_token.rs
+++ b/tokio-util/src/sync/cancellation_token.rs
@@ -287,6 +287,22 @@ impl CancellationToken {
         }
         .await
     }
+
+    /// Runs a future to completion and returns its result wrapped inside of an `Option`
+    /// unless the `CancellationToken` is cancelled. In that case the function returns
+    /// `None` and the future gets dropped.
+    ///
+    /// The function takes self by value.
+    ///
+    /// # Cancel safety
+    ///
+    /// This method is only cancel safe if `fut` is cancel safe.
+    pub async fn run_until_cancelled_owned<F>(self, fut: F) -> Option<F::Output>
+    where
+        F: Future,
+    {
+        self.run_until_cancelled(fut).await
+    }
 }
 
 // ===== impl WaitForCancellationFuture =====
diff --git a/tokio-util/tests/sync_cancellation_token.rs b/tokio-util/tests/sync_cancellation_token.rs
index db33114a2e3..9332a8f9d02 100644
--- a/tokio-util/tests/sync_cancellation_token.rs
+++ b/tokio-util/tests/sync_cancellation_token.rs
@@ -493,3 +493,58 @@ fn run_until_cancelled_test() {
         );
     }
 }
+
+#[test]
+fn run_until_cancelled_owned_test() {
+    let (waker, _) = new_count_waker();
+
+    {
+        let token = CancellationToken::new();
+        let to_cancel = token.clone();
+
+        let takes_ownership = move |token: CancellationToken| {
+            token.run_until_cancelled_owned(std::future::pending::<()>())
+        };
+
+        let fut = takes_ownership(token);
+        pin!(fut);
+
+        assert_eq!(
+            Poll::Pending,
+            fut.as_mut().poll(&mut Context::from_waker(&waker))
+        );
+
+        to_cancel.cancel();
+
+        assert_eq!(
+            Poll::Ready(None),
+            fut.as_mut().poll(&mut Context::from_waker(&waker))
+        );
+    }
+
+    {
+        let (tx, rx) = oneshot::channel::<()>();
+
+        let token = CancellationToken::new();
+        let takes_ownership = move |token: CancellationToken, rx: oneshot::Receiver<()>| {
+            token.run_until_cancelled_owned(async move {
+                rx.await.unwrap();
+                42
+            })
+        };
+        let fut = takes_ownership(token, rx);
+        pin!(fut);
+
+        assert_eq!(
+            Poll::Pending,
+            fut.as_mut().poll(&mut Context::from_waker(&waker))
+        );
+
+        tx.send(()).unwrap();
+
+        assert_eq!(
+            Poll::Ready(Some(42)),
+            fut.as_mut().poll(&mut Context::from_waker(&waker))
+        );
+    }
+}