diff --git a/packages/signaling/package.json b/packages/signaling/package.json
index f7d1262d4..44bb2f73c 100644
--- a/packages/signaling/package.json
+++ b/packages/signaling/package.json
@@ -45,6 +45,7 @@
   },
   "dependencies": {
     "@lumino/algorithm": "^2.0.0-alpha.6",
+    "@lumino/coreutils": "^2.0.0-alpha.6",
     "@lumino/properties": "^2.0.0-alpha.6"
   },
   "devDependencies": {
diff --git a/packages/signaling/src/index.ts b/packages/signaling/src/index.ts
index 16d04fd5a..93ddd64f2 100644
--- a/packages/signaling/src/index.ts
+++ b/packages/signaling/src/index.ts
@@ -8,6 +8,7 @@
 | The full license is in the file LICENSE, distributed with this software.
 |----------------------------------------------------------------------------*/
 import { ArrayExt, find } from '@lumino/algorithm';
+import { PromiseDelegate } from '@lumino/coreutils';
 import { AttachedProperty } from '@lumino/properties';
 
 /**
@@ -84,6 +85,11 @@ export interface ISignal<T, U> {
   disconnect(slot: Slot<T, U>, thisArg?: any): boolean;
 }
 
+/**
+ * An object that is both a signal and an async iterable.
+ */
+export interface IStream<T, U> extends ISignal<T, U>, AsyncIterable<U> {}
+
 /**
  * A concrete implementation of `ISignal`.
  *
@@ -157,11 +163,11 @@ export class Signal<T, U> implements ISignal<T, U> {
    * @param fn The callback during which the signal is blocked
    */
   block(fn: () => void): void {
-    this._blockedCount++;
+    this.blocked++;
     try {
       fn();
     } finally {
-      this._blockedCount--;
+      this.blocked--;
     }
   }
 
@@ -204,12 +210,15 @@ export class Signal<T, U> implements ISignal<T, U> {
    * Exceptions thrown by connected slots will be caught and logged.
    */
   emit(args: U): void {
-    if (!this._blockedCount) {
+    if (!this.blocked) {
       Private.emit(this, args);
     }
   }
 
-  private _blockedCount = 0;
+  /**
+   * If `blocked` is not `0`, the signal will not emit.
+   */
+  protected blocked = 0;
 }
 
 /**
@@ -338,10 +347,59 @@ export namespace Signal {
   }
 }
 
+/**
+ * A stream with the characteristics of a signal and an async iterable.
+ */
+export class Stream<T, U> extends Signal<T, U> implements IStream<T, U> {
+  /**
+   * Return an async iterator that yields every emission.
+   */
+  async *[Symbol.asyncIterator](): AsyncIterableIterator<U> {
+    let pending = this._pending;
+    while (true) {
+      try {
+        const { args, next } = await pending.promise;
+        pending = next;
+        yield args;
+      } catch (_) {
+        return; // Any promise rejection stops the iterator.
+      }
+    }
+  }
+
+  /**
+   * Emit the signal, invoke the connected slots, and yield the emission.
+   *
+   * @param args - The args to pass to the connected slots.
+   */
+  emit(args: U): void {
+    if (!this.blocked) {
+      const pending = this._pending;
+      this._pending = new PromiseDelegate();
+      pending.resolve({ args, next: this._pending });
+      super.emit(args);
+    }
+  }
+
+  /**
+   * Stop the stream's async iteration.
+   */
+  stop(): void {
+    this._pending.reject('stop');
+  }
+
+  private _pending: Private.Pending<U> = new PromiseDelegate();
+}
+
 /**
  * The namespace for the module implementation details.
  */
 namespace Private {
+  /**
+   * A pending promise in a promise chain underlying a stream.
+   */
+  export type Pending<U> = PromiseDelegate<{ args: U; next: Pending<U> }>;
+
   /**
    * The signal exception handler function.
    */
diff --git a/packages/signaling/tests/src/index.spec.ts b/packages/signaling/tests/src/index.spec.ts
index 7410a825a..602258323 100644
--- a/packages/signaling/tests/src/index.spec.ts
+++ b/packages/signaling/tests/src/index.spec.ts
@@ -9,14 +9,14 @@
 |----------------------------------------------------------------------------*/
 import { expect } from 'chai';
 
-import { Signal } from '@lumino/signaling';
+import { Signal, Stream } from '@lumino/signaling';
 
 class TestObject {
   readonly one = new Signal<this, void>(this);
 
   readonly two = new Signal<this, number>(this);
 
-  readonly three = new Signal<this, string[]>(this);
+  readonly three = new Stream<this, string[]>(this);
 }
 
 class ExtendedObject extends TestObject {
@@ -582,4 +582,132 @@ describe('@lumino/signaling', () => {
       });
     });
   });
+
+  describe('Stream', () => {
+    describe('#[Symbol.asyncIterator]()', () => {
+      it('should yield emissions and respect blocking', async () => {
+        const stream = new Stream<unknown, string>({});
+        const input = 'async';
+        const expected = 'aINTERRUPTEDsync';
+        const wait = Promise.resolve();
+        let emitted = '';
+        let once = true;
+        stream.connect(() => {
+          if (once) {
+            once = false;
+            stream.emit('I');
+            stream.emit('N');
+            stream.emit('T');
+            stream.emit('E');
+            stream.emit('R');
+            stream.emit('R');
+            stream.emit('U');
+            stream.emit('P');
+            stream.emit('T');
+            stream.emit('E');
+            stream.emit('D');
+          }
+        });
+        wait.then(() => stream.block(() => stream.emit('BLOCKED EMISSION 1')));
+        input.split('').forEach(x => wait.then(() => stream.emit(x)));
+        wait.then(() => stream.block(() => stream.emit('BLOCKED EMISSION 2')));
+        wait.then(() => stream.stop());
+        for await (const letter of stream) {
+          emitted = emitted.concat(letter);
+        }
+        expect(emitted).to.equal(expected);
+      });
+
+      it('should return an async iterator', async () => {
+        const stream = new Stream<unknown, string>({});
+        const input = 'iterator';
+        const expected = 'iAHEMterator';
+        const wait = Promise.resolve();
+        let emitted = '';
+        let once = true;
+        stream.connect(() => {
+          if (once) {
+            once = false;
+            stream.emit('A');
+            stream.emit('H');
+            stream.emit('E');
+            stream.emit('M');
+          }
+        });
+        wait.then(() => stream.block(() => stream.emit('BLOCKED EMISSION 1')));
+        input.split('').forEach(x => wait.then(() => stream.emit(x)));
+        wait.then(() => stream.block(() => stream.emit('BLOCKED EMISSION 2')));
+        wait.then(() => stream.stop());
+
+        const it = stream[Symbol.asyncIterator]();
+        let emission: IteratorResult<string, any>;
+        while (!(emission = await it.next()).done) {
+          emitted = emitted.concat(emission.value);
+        }
+
+        expect(emitted).to.equal(expected);
+      });
+    });
+
+    describe('#stop()', () => {
+      it('should stop emissions in the async interable', async () => {
+        const stream = new Stream<unknown, string>({});
+        const input = 'continuing';
+        const expected = 'cINTERRUPTEDontinuing';
+        const wait = Promise.resolve();
+        let emitted = '';
+        let once = true;
+        stream.connect(() => {
+          if (once) {
+            once = false;
+            stream.emit('I');
+            stream.emit('N');
+            stream.emit('T');
+            stream.emit('E');
+            stream.emit('R');
+            stream.emit('R');
+            stream.emit('U');
+            stream.emit('P');
+            stream.emit('T');
+            stream.emit('E');
+            stream.emit('D');
+          }
+        });
+        input.split('').forEach(x => wait.then(() => stream.emit(x)));
+        wait.then(() => stream.stop());
+        for await (const letter of stream) {
+          emitted = emitted.concat(letter);
+        }
+        expect(emitted).to.equal(expected);
+      });
+
+      it('should resolve to `done` in an async iterator', async () => {
+        const stream = new Stream<unknown, string>({});
+        const input = 'stopiterator';
+        const expected = 'sAHEMtopiterator';
+        const wait = Promise.resolve();
+        let emitted = '';
+        let once = true;
+        stream.connect(() => {
+          if (once) {
+            once = false;
+            stream.emit('A');
+            stream.emit('H');
+            stream.emit('E');
+            stream.emit('M');
+          }
+        });
+        input.split('').forEach(x => wait.then(() => stream.emit(x)));
+        wait.then(() => stream.stop());
+
+        const it = stream[Symbol.asyncIterator]();
+        let emission: IteratorResult<string, any>;
+        while (!(emission = await it.next()).done) {
+          emitted = emitted.concat(emission.value);
+        }
+
+        expect(emitted).to.equal(expected);
+      });
+    });
+  });
 });
diff --git a/review/api/signaling.api.md b/review/api/signaling.api.md
index 80c130384..f837ff0d6 100644
--- a/review/api/signaling.api.md
+++ b/review/api/signaling.api.md
@@ -11,10 +11,15 @@ export interface ISignal<T, U> {
     disconnect(slot: Slot<T, U>, thisArg?: any): boolean;
 }
 
+// @public
+export interface IStream<T, U> extends ISignal<T, U>, AsyncIterable<U> {
+}
+
 // @public
 export class Signal<T, U> implements ISignal<T, U> {
     constructor(sender: T);
     block(fn: () => void): void;
+    protected blocked: number;
     connect(slot: Slot<T, U>, thisArg?: unknown): boolean;
     disconnect(slot: Slot<T, U>, thisArg?: unknown): boolean;
     emit(args: U): void;
@@ -37,6 +42,13 @@ export namespace Signal {
 // @public
 export type Slot<T, U> = (sender: T, args: U) => void;
 
+// @public
+export class Stream<T, U> extends Signal<T, U> implements IStream<T, U> {
+    [Symbol.asyncIterator](): AsyncIterableIterator<U>;
+    emit(args: U): void;
+    stop(): void;
+}
+
 // (No @packageDocumentation comment for this package)
 
 ```