diff --git a/src/cdk/drag-drop/directives/drag.spec.ts b/src/cdk/drag-drop/directives/drag.spec.ts
index d9ffc82f12b..2e51549f6d1 100644
--- a/src/cdk/drag-drop/directives/drag.spec.ts
+++ b/src/cdk/drag-drop/directives/drag.spec.ts
@@ -354,6 +354,7 @@ describe('CdkDrag', () => {
       dragElementViaMouse(fixture, fixture.componentInstance.dragElement.nativeElement, 2, 2);
 
       expect(fixture.componentInstance.startedSpy).not.toHaveBeenCalled();
+      expect(fixture.componentInstance.releasedSpy).not.toHaveBeenCalled();
       expect(fixture.componentInstance.endedSpy).not.toHaveBeenCalled();
       expect(moveSpy).not.toHaveBeenCalled();
       subscription.unsubscribe();
@@ -1221,6 +1222,40 @@ describe('CdkDrag', () => {
           .toBeFalsy('Expected preview to be removed from the DOM if the transition timed out');
     }));
 
+    it('should emit the released event as soon as the item is released', fakeAsync(() => {
+      const fixture = createComponent(DraggableInDropZone);
+      fixture.detectChanges();
+      const item = fixture.componentInstance.dragItems.toArray()[1];
+      const endedSpy = jasmine.createSpy('ended spy');
+      const releasedSpy = jasmine.createSpy('released spy');
+      const endedSubscription = item.ended.subscribe(endedSpy);
+      const releasedSubscription = item.released.subscribe(releasedSpy);
+
+      startDraggingViaMouse(fixture, item.element.nativeElement);
+
+      const preview = document.querySelector('.cdk-drag-preview')! as HTMLElement;
+
+      // Add a duration since the tests won't include one.
+      preview.style.transitionDuration = '500ms';
+
+      // Move somewhere so the draggable doesn't exit immediately.
+      dispatchMouseEvent(document, 'mousemove', 50, 50);
+      fixture.detectChanges();
+
+      dispatchMouseEvent(document, 'mouseup');
+      fixture.detectChanges();
+
+      // Expected the released event to fire immediately upon release.
+      expect(releasedSpy).toHaveBeenCalled();
+      tick(1000);
+
+      // Expected the ended event to fire once the entire sequence is done.
+      expect(endedSpy).toHaveBeenCalled();
+
+      endedSubscription.unsubscribe();
+      releasedSubscription.unsubscribe();
+    }));
+
     it('should reset immediately when failed drag happens after a successful one', fakeAsync(() => {
       const fixture = createComponent(DraggableInDropZone);
       fixture.detectChanges();
@@ -2597,6 +2632,7 @@ describe('CdkDrag', () => {
         cdkDrag
         [cdkDragBoundary]="boundarySelector"
         (cdkDragStarted)="startedSpy($event)"
+        (cdkDragReleased)="releasedSpy($event)"
         (cdkDragEnded)="endedSpy($event)"
         #dragElement
         style="width: 100px; height: 100px; background: red;"></div>
@@ -2608,6 +2644,7 @@ class StandaloneDraggable {
   @ViewChild(CdkDrag) dragInstance: CdkDrag;
   startedSpy = jasmine.createSpy('started spy');
   endedSpy = jasmine.createSpy('ended spy');
+  releasedSpy = jasmine.createSpy('released spy');
   boundarySelector: string;
 }
 
diff --git a/src/cdk/drag-drop/directives/drag.ts b/src/cdk/drag-drop/directives/drag.ts
index c3539087e84..b857318c78a 100644
--- a/src/cdk/drag-drop/directives/drag.ts
+++ b/src/cdk/drag-drop/directives/drag.ts
@@ -38,6 +38,7 @@ import {
   CdkDragExit,
   CdkDragMove,
   CdkDragStart,
+  CdkDragRelease,
 } from '../drag-events';
 import {CdkDragHandle} from './drag-handle';
 import {CdkDragPlaceholder} from './drag-placeholder';
@@ -118,6 +119,10 @@ export class CdkDrag<T = any> implements AfterViewInit, OnDestroy {
   /** Emits when the user starts dragging the item. */
   @Output('cdkDragStarted') started: EventEmitter<CdkDragStart> = new EventEmitter<CdkDragStart>();
 
+  /** Emits when the user has released a drag item, before any animations have started. */
+  @Output('cdkDragReleased') released: EventEmitter<CdkDragRelease> =
+      new EventEmitter<CdkDragRelease>();
+
   /** Emits when the user stops dragging an item in the container. */
   @Output('cdkDragEnded') ended: EventEmitter<CdkDragEnd> = new EventEmitter<CdkDragEnd>();
 
@@ -254,6 +259,10 @@ export class CdkDrag<T = any> implements AfterViewInit, OnDestroy {
       this.started.emit({source: this});
     });
 
+    ref.released.subscribe(() => {
+      this.released.emit({source: this});
+    });
+
     ref.ended.subscribe(() => {
       this.ended.emit({source: this});
     });
diff --git a/src/cdk/drag-drop/drag-events.ts b/src/cdk/drag-drop/drag-events.ts
index 57ffc86e9e1..a613dfe0154 100644
--- a/src/cdk/drag-drop/drag-events.ts
+++ b/src/cdk/drag-drop/drag-events.ts
@@ -15,6 +15,12 @@ export interface CdkDragStart<T = any> {
   source: CdkDrag<T>;
 }
 
+/** Event emitted when the user releases an item, before any animations have started. */
+export interface CdkDragRelease<T = any> {
+  /** Draggable that emitted the event. */
+  source: CdkDrag<T>;
+}
+
 /** Event emitted when the user stops dragging a draggable. */
 export interface CdkDragEnd<T = any> {
   /** Draggable that emitted the event. */
diff --git a/src/cdk/drag-drop/drag-ref.ts b/src/cdk/drag-drop/drag-ref.ts
index 2bf7b6d60b8..f3b59ea1f3e 100644
--- a/src/cdk/drag-drop/drag-ref.ts
+++ b/src/cdk/drag-drop/drag-ref.ts
@@ -213,6 +213,9 @@ export class DragRef<T = any> {
   /** Emits when the user starts dragging the item. */
   started = new Subject<{source: DragRef}>();
 
+  /** Emits when the user has released a drag item, before any animations have started. */
+  released = new Subject<{source: DragRef}>();
+
   /** Emits when the user stops dragging an item in the container. */
   ended = new Subject<{source: DragRef}>();
 
@@ -355,6 +358,7 @@ export class DragRef<T = any> {
     this._removeSubscriptions();
     this.beforeStarted.complete();
     this.started.complete();
+    this.released.complete();
     this.ended.complete();
     this.entered.complete();
     this.exited.complete();
@@ -516,6 +520,8 @@ export class DragRef<T = any> {
       return;
     }
 
+    this.released.next({source: this});
+
     if (!this.dropContainer) {
       // Convert the active transform into a passive one. This means that next time
       // the user starts dragging the item, its position will be calculated relatively
diff --git a/tools/public_api_guard/cdk/drag-drop.d.ts b/tools/public_api_guard/cdk/drag-drop.d.ts
index 12655937157..6dc3498ec12 100644
--- a/tools/public_api_guard/cdk/drag-drop.d.ts
+++ b/tools/public_api_guard/cdk/drag-drop.d.ts
@@ -22,6 +22,7 @@ export declare class CdkDrag<T = any> implements AfterViewInit, OnDestroy {
     exited: EventEmitter<CdkDragExit<any>>;
     lockAxis: 'x' | 'y';
     moved: Observable<CdkDragMove<T>>;
+    released: EventEmitter<CdkDragRelease>;
     rootElementSelector: string;
     started: EventEmitter<CdkDragStart>;
     constructor(
@@ -92,6 +93,10 @@ export declare class CdkDragPreview<T = any> {
     constructor(templateRef: TemplateRef<T>);
 }
 
+export interface CdkDragRelease<T = any> {
+    source: CdkDrag<T>;
+}
+
 export interface CdkDragSortEvent<T = any, I = T> {
     container: CdkDropList<T>;
     currentIndex: number;