diff --git a/perf/micro/immediate-scheduler/operators/first-predicate.js b/perf/micro/immediate-scheduler/operators/first-predicate.js
new file mode 100644
index 0000000000..3479906327
--- /dev/null
+++ b/perf/micro/immediate-scheduler/operators/first-predicate.js
@@ -0,0 +1,23 @@
+var RxOld = require("rx");
+var RxNew = require("../../../../index");
+
+module.exports = function (suite) {
+  var predicate = function(value, index) {
+    return value === 20;
+  };
+
+  var oldFirstNoArgs = RxOld.Observable.range(0, 50, RxOld.Scheduler.immediate).first(predicate);
+  var newFirstNoArgs = RxNew.Observable.range(0, 50).first(predicate);
+
+  return suite
+      .add('old first(predicate) with immediate scheduler', function () {
+          oldFirstNoArgs.subscribe(_next, _error, _complete);
+      })
+      .add('new first(predicate) with immediate scheduler', function () {
+          newFirstNoArgs.subscribe(_next, _error, _complete);
+      });
+
+  function _next(x) { }
+  function _error(e) { }
+  function _complete() { }
+};
\ No newline at end of file
diff --git a/perf/micro/immediate-scheduler/operators/first.js b/perf/micro/immediate-scheduler/operators/first.js
new file mode 100644
index 0000000000..ae9a4bffe0
--- /dev/null
+++ b/perf/micro/immediate-scheduler/operators/first.js
@@ -0,0 +1,19 @@
+var RxOld = require("rx");
+var RxNew = require("../../../../index");
+
+module.exports = function (suite) {
+  var oldFirstNoArgs = RxOld.Observable.range(0, 50, RxOld.Scheduler.immediate).first();
+  var newFirstNoArgs = RxNew.Observable.range(0, 50).first();
+
+  return suite
+      .add('old first() with immediate scheduler', function () {
+          oldFirstNoArgs.subscribe(_next, _error, _complete);
+      })
+      .add('new first() with immediate scheduler', function () {
+          newFirstNoArgs.subscribe(_next, _error, _complete);
+      });
+
+  function _next(x) { }
+  function _error(e) { }
+  function _complete() { }
+};
\ No newline at end of file
diff --git a/spec/operators/first-spec.js b/spec/operators/first-spec.js
new file mode 100644
index 0000000000..d2ee91bbf9
--- /dev/null
+++ b/spec/operators/first-spec.js
@@ -0,0 +1,117 @@
+/* globals describe, it, expect, expectObservable, hot, cold */
+var Rx = require('../../dist/cjs/Rx');
+
+describe('Observable.prototype.first()', function() {
+  it('should take the first value of an observable with one value', function() {
+    var e1 =   hot('---(a|)');
+    var expected = '---(a|)';
+    expectObservable(e1.first()).toBe(expected)
+  });
+
+  it('should take the first value of an observable with many values', function() {
+    var e1 = hot('--a--^--b----c---d--|');
+    var expected =    '---(b|)';
+    expectObservable(e1.first()).toBe(expected)
+  });
+
+  it('should error on empty', function() {
+    var e1 = hot('--a--^----|');
+    var expected =    '-----#';
+    expectObservable(e1.first()).toBe(expected, null, new Rx.EmptyError());
+  });
+
+  it('should return the default value if source observable was empty', function() {
+    var e1 = hot('-----^----|');
+    var expected =    '-----(a|)';
+    expectObservable(e1.first(null, null, 'a')).toBe(expected);
+  });
+
+  it('should propagate error from the source observable', function() {
+    var e1 = hot('---^---#');
+    var expected =  '----#';
+    expectObservable(e1.first()).toBe(expected)
+  });
+
+  it('should go on forever on never', function() {
+    var e2 = hot('--^-------');
+    var expected = '--------';
+    expectObservable(e2.first()).toBe(expected);
+  });
+
+  it('should return first value that matches a predicate', function() {
+    var e1 = hot('--a-^--b--c--a--c--|');
+    var expected =   '------(c|)';
+    var predicate = function (value) {
+      return value === 'c';
+    };
+    expectObservable(e1.first(predicate)).toBe(expected);
+  });
+
+  it('should return first value that matches a predicate for odd numbers', function() {
+    var e1 = hot('--a-^--b--c--d--e--|', {a: 1, b: 2, c: 3, d: 4, e: 5});
+    var expected =   '------(c|)';
+    var predicate = function (value) {
+      return value % 2 === 1;
+    };
+    expectObservable(e1.first(predicate)).toBe(expected, {c: 3});
+  });
+
+  it('should return first value that matches a predicate using thisArg', function() {
+    var e1 = hot('--a-^--b--c--d--e--|', {a: 1, b: 2, c: 3, d: 4, e: 5});
+    var expected =   '------(c|)';
+    var predicate = function (value) {
+      expect(this).toEqual(42);
+      return value % 2 === 1;
+    };
+    expectObservable(e1.first(predicate, 42)).toBe(expected, {c: 3});
+  });
+
+  it('should error when no value matches the predicate', function() {
+    var e1 = hot('--a-^--b--c--a--c--|');
+    var expected =   '---------------#';
+    var predicate = function (value) {
+      return value === 's';
+    };
+    expectObservable(e1.first(predicate)).toBe(expected, null, new Rx.EmptyError());
+  });
+
+  it('should return the default value when no value matches the predicate', function() {
+    var e1 = hot('--a-^--b--c--a--c--|');
+    var expected =   '---------------(d|)';
+    var predicate = function (value) {
+      return value === 's';
+    };
+    expectObservable(e1.first(predicate, null, 'd')).toBe(expected);
+  });
+
+  it('should propagate error when no value matches the predicate', function() {
+    var e1 = hot('--a-^--b--c--a--#');
+    var expected =   '------------#';
+    var predicate = function (value) {
+      return value === 's';
+    };
+    expectObservable(e1.first(predicate)).toBe(expected);
+  });
+
+  it('should return first value that matches the index in the predicate', function() {
+    var e1 = hot('--a-^--b--c--a--c--|');
+    var expected =   '---------(a|)';
+    var predicate = function (value, index) {
+      return index === 2;
+    };
+    expectObservable(e1.first(predicate)).toBe(expected);
+  });
+
+  it('should propagate error from predicate', function() {
+    var e1 = hot('--a-^--b--c--d--e--|', {a: 1, b: 2, c: 3, d: 4, e: 5});
+    var expected =   '---------#';
+    var predicate = function (value) {
+      if (value < 4) {
+        return false;
+      } else {
+        throw 'error';
+      }
+    };
+    expectObservable(e1.first(predicate)).toBe(expected, null, 'error');
+  });
+});
diff --git a/src/operators/first.ts b/src/operators/first.ts
new file mode 100644
index 0000000000..b6b8be85fa
--- /dev/null
+++ b/src/operators/first.ts
@@ -0,0 +1,74 @@
+import Observable from '../Observable';
+import Operator from '../Operator';
+import Subscriber from '../Subscriber';
+import Observer from '../Observer';
+
+import tryCatch from '../util/tryCatch';
+import {errorObject} from '../util/errorObject';
+import bindCallback from '../util/bindCallback';
+import EmptyError from '../util/EmptyError';
+
+export default function first<T>(predicate?: (value: T, index: number, source: Observable<T>) => boolean,
+                                 thisArg?: any,
+                                 defaultValue?: any): Observable<T> {
+  return this.lift(new FirstOperator(predicate, thisArg, defaultValue, this));
+}
+
+class FirstOperator<T, R> implements Operator<T, R> {
+  constructor(private predicate?: (value: T, index: number, source: Observable<T>) => boolean,
+              private thisArg?: any,
+              private defaultValue?: any,
+              private source?: Observable<T>) {
+  }
+
+  call(observer: Subscriber<R>): Subscriber<T> {
+    return new FirstSubscriber(
+      observer, this.predicate, this.thisArg, this.defaultValue, this.source
+    );
+  }
+}
+
+class FirstSubscriber<T> extends Subscriber<T> {
+  private predicate: Function;
+  private index: number = 0;
+  private hasCompleted: boolean = false;
+
+  constructor(destination: Observer<T>,
+              predicate?: (value: T, index: number, source: Observable<T>) => boolean,
+              private thisArg?: any,
+              private defaultValue?: any,
+              private source?: Observable<T>) {
+    super(destination);
+    if (typeof predicate === 'function') {
+      this.predicate = bindCallback(predicate, thisArg, 3);
+    }
+  }
+
+  _next(value: T) {
+    const destination = this.destination;
+    const predicate = this.predicate;
+    let passed: any = true;
+    if (predicate) {
+      passed = tryCatch(predicate)(value, this.index++, this.source);
+      if (passed === errorObject) {
+        destination.error(passed.e);
+        return;
+      }
+    }
+    if (passed) {
+      destination.next(value);
+      destination.complete();
+      this.hasCompleted = true;
+    }
+  }
+
+  _complete() {
+    const destination = this.destination;
+    if (!this.hasCompleted && typeof this.defaultValue !== 'undefined') {
+      destination.next(this.defaultValue);
+      destination.complete();
+    } else if (!this.hasCompleted) {
+      destination.error(new EmptyError);
+    }
+  }
+}