diff --git a/spec/operators/publishReplay-spec.ts b/spec/operators/publishReplay-spec.ts
index c9fdf744b8..dc6a0a937d 100644
--- a/spec/operators/publishReplay-spec.ts
+++ b/spec/operators/publishReplay-spec.ts
@@ -409,4 +409,75 @@ describe('Observable.prototype.publishReplay', () => {
 
     published.connect();
   });
+
+  it('should mirror a simple source Observable with selector', () => {
+    const values = {a: 2, b: 4, c: 6, d: 8};
+    const selector = observable => observable.map(v => 2 * v);
+    const source = cold('--1-2---3-4---|');
+    const sourceSubs =  '^             !';
+    const published = source.publishReplay(1, Number.POSITIVE_INFINITY, selector);
+    const expected =    '--a-b---c-d---|';
+
+    expectObservable(published).toBe(expected, values);
+    expectSubscriptions(source.subscriptions).toBe(sourceSubs);
+  });
+
+  it('should emit an error when the selector throws an exception', () => {
+    const error = "It's broken";
+    const selector = () => {
+      throw error;
+    };
+    const source = cold('--1-2---3-4---|');
+    const published = source.publishReplay(1, Number.POSITIVE_INFINITY, selector);
+
+    // The exception is thrown outside Rx chain (not as an error notification).
+    expect(() => published.subscribe()).to.throw(error);
+  });
+
+  it('should emit an error when the selector returns an Observable that emits an error', () => {
+    const error = "It's broken";
+    const innerObservable = cold('--5-6----#', undefined, error);
+    const selector = observable => observable.mergeMapTo(innerObservable);
+    const source = cold('--1--2---3---|');
+    const sourceSubs =  '^          !';
+    const published = source.publishReplay(1, Number.POSITIVE_INFINITY, selector);
+    const expected =    '----5-65-6-#';
+
+    expectObservable(published).toBe(expected, undefined, error);
+    expectSubscriptions(source.subscriptions).toBe(sourceSubs);
+  });
+
+  it('should terminate immediately when the selector returns an empty Observable', () => {
+    const selector = () => Observable.empty();
+    const source = cold('--1--2---3---|');
+    const sourceSubs =  '(^!)';
+    const published = source.publishReplay(1, Number.POSITIVE_INFINITY, selector);
+    const expected =    '|';
+
+    expectObservable(published).toBe(expected);
+    expectSubscriptions(source.subscriptions).toBe(sourceSubs);
+  });
+
+  it('should not emit and should not complete/error when the selector returns never', () => {
+    const selector = () => Observable.never();
+    const source = cold('-');
+    const sourceSubs =  '^';
+    const published = source.publishReplay(1, Number.POSITIVE_INFINITY, selector);
+    const expected =    '-';
+
+    expectObservable(published).toBe(expected);
+    expectSubscriptions(source.subscriptions).toBe(sourceSubs);
+  });
+
+  it('should emit error when the selector returns Observable.throw', () => {
+    const error = "It's broken";
+    const selector = () => Observable.throw(error);
+    const source = cold('--1--2---3---|');
+    const sourceSubs =  '(^!)';
+    const published = source.publishReplay(1, Number.POSITIVE_INFINITY, selector);
+    const expected =    '#';
+
+    expectObservable(published).toBe(expected, undefined, error);
+    expectSubscriptions(source.subscriptions).toBe(sourceSubs);
+  });
 });
diff --git a/src/operator/publishReplay.ts b/src/operator/publishReplay.ts
index c8cd566a58..735af72340 100644
--- a/src/operator/publishReplay.ts
+++ b/src/operator/publishReplay.ts
@@ -2,17 +2,27 @@ import { Observable } from '../Observable';
 import { IScheduler } from '../Scheduler';
 import { ConnectableObservable } from '../observable/ConnectableObservable';
 import { publishReplay as higherOrder } from '../operators/publishReplay';
+import { OperatorFunction, MonoTypeOperatorFunction } from '../interfaces';
+
+/* tslint:disable:max-line-length */
+export function publishReplay<T>(this: Observable<T>, bufferSize?: number, windowTime?: number, scheduler?: IScheduler): ConnectableObservable<T>;
+export function publishReplay<T>(this: Observable<T>, bufferSize?: number, windowTime?: number, selector?: MonoTypeOperatorFunction<T>, scheduler?: IScheduler): Observable<T>;
+export function publishReplay<T, R>(this: Observable<T>, bufferSize?: number, windowTime?: number, selector?: OperatorFunction<T, R>): Observable<R>;
+/* tslint:enable:max-line-length */
 
 /**
  * @param bufferSize
  * @param windowTime
+ * @param selectorOrScheduler
  * @param scheduler
- * @return {ConnectableObservable<T>}
+ * @return {Observable<T> | ConnectableObservable<T>}
  * @method publishReplay
  * @owner Observable
  */
-export function publishReplay<T>(this: Observable<T>, bufferSize: number = Number.POSITIVE_INFINITY,
-                                 windowTime: number = Number.POSITIVE_INFINITY,
-                                 scheduler?: IScheduler): ConnectableObservable<T> {
-  return higherOrder(bufferSize, windowTime, scheduler)(this) as ConnectableObservable<T>;
+export function publishReplay<T, R>(this: Observable<T>, bufferSize?: number,
+                                    windowTime?: number,
+                                    selectorOrScheduler?: IScheduler | OperatorFunction<T, R>,
+                                    scheduler?: IScheduler): Observable<R> | ConnectableObservable<R> {
+
+  return higherOrder(bufferSize, windowTime, selectorOrScheduler as any, scheduler)(this);
 }
diff --git a/src/operators/publishReplay.ts b/src/operators/publishReplay.ts
index 5943db4acb..dc3879bac5 100644
--- a/src/operators/publishReplay.ts
+++ b/src/operators/publishReplay.ts
@@ -3,10 +3,25 @@ import { ReplaySubject } from '../ReplaySubject';
 import { IScheduler } from '../Scheduler';
 import { multicast } from './multicast';
 import { ConnectableObservable } from '../observable/ConnectableObservable';
-import { UnaryFunction } from '../interfaces';
+import { UnaryFunction, MonoTypeOperatorFunction, OperatorFunction } from '../interfaces';
 
-export function publishReplay<T>(bufferSize: number = Number.POSITIVE_INFINITY,
-                                 windowTime: number = Number.POSITIVE_INFINITY,
-                                 scheduler?: IScheduler): UnaryFunction<Observable<T>, ConnectableObservable<T>> {
-  return (source: Observable<T>) => multicast(new ReplaySubject<T>(bufferSize, windowTime, scheduler))(source) as ConnectableObservable<T>;
+/* tslint:disable:max-line-length */
+export function publishReplay<T>(bufferSize?: number, windowTime?: number, scheduler?: IScheduler): UnaryFunction<Observable<T>, ConnectableObservable<T>>;
+export function publishReplay<T>(bufferSize?: number, windowTime?: number, selector?: MonoTypeOperatorFunction<T>, scheduler?: IScheduler): MonoTypeOperatorFunction<T>;
+export function publishReplay<T, R>(bufferSize?: number, windowTime?: number, selector?: OperatorFunction<T, R>, scheduler?: IScheduler): OperatorFunction<T, R>;
+/* tslint:enable:max-line-length */
+
+export function publishReplay<T, R>(bufferSize?: number,
+                                    windowTime?: number,
+                                    selectorOrScheduler?: IScheduler | OperatorFunction<T, R>,
+                                    scheduler?: IScheduler): UnaryFunction<Observable<T>, ConnectableObservable<R> | Observable<R>> {
+
+  if (selectorOrScheduler && typeof selectorOrScheduler !== 'function') {
+    scheduler = selectorOrScheduler;
+  }
+
+  const selector = typeof selectorOrScheduler === 'function' ? selectorOrScheduler : undefined;
+  const subject = new ReplaySubject<T>(bufferSize, windowTime, scheduler);
+
+  return (source: Observable<T>) => multicast(() => subject, selector)(source) as Observable<R> | ConnectableObservable<R>;
 }