diff --git a/src/lib/list/selection-list.spec.ts b/src/lib/list/selection-list.spec.ts
index 2315e69e03f..d76e7de7aac 100644
--- a/src/lib/list/selection-list.spec.ts
+++ b/src/lib/list/selection-list.spec.ts
@@ -5,7 +5,13 @@ import {
   dispatchEvent,
   dispatchKeyboardEvent,
 } from '@angular/cdk/testing';
-import {Component, DebugElement, ChangeDetectionStrategy} from '@angular/core';
+import {
+  Component,
+  DebugElement,
+  ChangeDetectionStrategy,
+  QueryList,
+  ViewChildren,
+} from '@angular/core';
 import {async, ComponentFixture, fakeAsync, TestBed, tick, flush} from '@angular/core/testing';
 import {By} from '@angular/platform-browser';
 import {
@@ -620,6 +626,7 @@ describe('MatSelectionList with forms', () => {
         SelectionListWithPreselectedOption,
         SelectionListWithPreselectedOptionAndModel,
         SelectionListWithPreselectedFormControlOnPush,
+        SelectionListWithCustomComparator,
       ]
     });
 
@@ -842,6 +849,24 @@ describe('MatSelectionList with forms', () => {
     }));
 
   });
+
+  describe('with custom compare function', () => {
+    it('should use a custom comparator to determine which options are selected', fakeAsync(() => {
+      const fixture = TestBed.createComponent(SelectionListWithCustomComparator);
+      const testComponent = fixture.componentInstance;
+
+      testComponent.compareWith = jasmine.createSpy('comparator', (o1, o2) => {
+        return o1 && o2 && o1.id === o2.id;
+      }).and.callThrough();
+
+      testComponent.selectedOptions = [{id: 2, label: 'Two'}];
+      fixture.detectChanges();
+      tick();
+
+      expect(testComponent.compareWith).toHaveBeenCalled();
+      expect(testComponent.optionInstances.toArray()[1].selected).toBe(true);
+    }));
+  });
 });
 
 
@@ -1004,3 +1029,23 @@ class SelectionListWithPreselectedFormControlOnPush {
   opts = ['opt1', 'opt2', 'opt3'];
   formControl = new FormControl(['opt2']);
 }
+
+
+@Component({
+  template: `
+    <mat-selection-list [(ngModel)]="selectedOptions" [compareWith]="compareWith">
+      <mat-list-option *ngFor="let option of options" [value]="option">
+        {{option.label}}
+      </mat-list-option>
+    </mat-selection-list>`
+})
+class SelectionListWithCustomComparator {
+  @ViewChildren(MatListOption) optionInstances: QueryList<MatListOption>;
+  selectedOptions: {id: number, label: string}[] = [];
+  compareWith?: (o1: any, o2: any) => boolean;
+  options = [
+    {id: 1, label: 'One'},
+    {id: 2, label: 'Two'},
+    {id: 3, label: 'Three'}
+  ];
+}
diff --git a/src/lib/list/selection-list.ts b/src/lib/list/selection-list.ts
index 934fc41fe54..34843721688 100644
--- a/src/lib/list/selection-list.ts
+++ b/src/lib/list/selection-list.ts
@@ -279,6 +279,13 @@ export class MatSelectionList extends _MatSelectionListMixinBase implements Focu
   /** Tabindex of the selection list. */
   @Input() tabIndex: number = 0;
 
+  /**
+   * Function used for comparing an option against the selected value when determining which
+   * options should appear as selected. The first argument is the value of an options. The second
+   * one is a value from the selected value. A boolean must be returned.
+   */
+  @Input() compareWith: (o1: any, o2: any) => boolean;
+
   /** The currently selected options. */
   selectedOptions: SelectionModel<MatListOption> = new SelectionModel<MatListOption>(true);
 
@@ -437,17 +444,15 @@ export class MatSelectionList extends _MatSelectionListMixinBase implements Focu
     this._onTouched = fn;
   }
 
-  /** Returns the option with the specified value. */
-  private _getOptionByValue(value: string): MatListOption | undefined {
-    return this.options.find(option => option.value === value);
-  }
-
   /** Sets the selected options based on the specified values. */
   private _setOptionsFromValues(values: string[]) {
     this.options.forEach(option => option._setSelected(false));
 
     values
-      .map(value => this._getOptionByValue(value))
+      .map(value => {
+        return this.options.find(option =>
+            this.compareWith ? this.compareWith(option.value, value) : option.value === value);
+      })
       .filter(Boolean)
       .forEach(option => option!._setSelected(true));
   }