diff --git a/Data/Conduit/Pool.hs b/Data/Conduit/Pool.hs
--- a/Data/Conduit/Pool.hs
+++ b/Data/Conduit/Pool.hs
@@ -1,3 +1,5 @@
+{-# LANGUAGE CPP #-}
+{-# LANGUAGE FlexibleContexts #-}
 -- | Allocate resources from a pool, guaranteeing resource handling via the
 -- ResourceT transformer.
 module Data.Conduit.Pool
@@ -7,13 +9,18 @@
     , P.Pool
     , P.createPool
     , P.withResource
+    , withResourceTimeout
     , withResourceT
     ) where
 
 import qualified Data.Pool as P
+import Control.Monad (liftM)
 import Control.Monad.Trans.Resource
 import Control.Monad.IO.Class (liftIO)
 import qualified Data.IORef as I
+import Control.Exception (onException, mask)
+import System.Timeout (timeout)
+import Control.Monad.Trans.Control (control)
 
 -- | The result of taking a resource.
 data ManagedResource m a = ManagedResource
@@ -37,6 +44,34 @@
     mrReuse mr True
     mrRelease mr
     return b
+
+-- | Like 'P.withResource', but times out the operation if resource
+-- allocation does not complete within the given timeout period.
+--
+-- Since 0.1.2
+withResourceTimeout ::
+#if MIN_VERSION_monad_control(0,3,0)
+    (MonadBaseControl IO m)
+#else
+    (MonadControlIO m)
+#endif
+  => Int -- ^ Timeout period in microseconds
+  -> P.Pool a
+  -> (a -> m b)
+  -> m (Maybe b)
+{-# SPECIALIZE withResourceTimeout :: Int -> P.Pool a -> (a -> IO b) -> IO (Maybe b) #-}
+withResourceTimeout ms pool act = control $ \runInIO -> mask $ \restore -> do
+    mres <- timeout ms $ P.takeResource pool
+    case mres of
+        Nothing -> runInIO $ return Nothing
+        Just (resource, local) -> do
+            ret <- restore (runInIO (liftM Just $ act resource)) `onException`
+                    P.destroyResource pool local resource
+            P.putResource local resource
+            return ret
+#if __GLASGOW_HASKELL__ >= 700
+{-# INLINABLE withResourceTimeout #-}
+#endif
 
 -- | Take a resource from the pool and register a release action.
 takeResource :: MonadResource m => P.Pool a -> m (ManagedResource m a)
diff --git a/pool-conduit.cabal b/pool-conduit.cabal
--- a/pool-conduit.cabal
+++ b/pool-conduit.cabal
@@ -1,5 +1,5 @@
 name:            pool-conduit
-version:         0.1.1
+version:         0.1.2
 license:         MIT
 license-file:    LICENSE
 author:          Michael Snoyman <michael@snoyman.com>
@@ -18,6 +18,7 @@
                    , resource-pool            >= 0.2.1   && < 0.3
                    , transformers             >= 0.2.1
                    , resourcet                >= 0.3     && < 0.5
+                   , monad-control
 
     exposed-modules: Data.Conduit.Pool