diff --git a/library/core/src/option.rs b/library/core/src/option.rs
index 825144e5a6fbe..3daf26208b937 100644
--- a/library/core/src/option.rs
+++ b/library/core/src/option.rs
@@ -562,6 +562,36 @@ impl<T> Option<T> {
         }
     }
 
+    /// Inserts `value` into the option then returns a mutable reference to it.
+    ///
+    /// If the option already contains a value, the old value is dropped.
+    ///
+    /// # Example
+    ///
+    /// ```
+    /// #![feature(option_insert)]
+    ///
+    /// let mut opt = None;
+    /// let val = opt.insert(1);
+    /// assert_eq!(*val, 1);
+    /// assert_eq!(opt.unwrap(), 1);
+    /// let val = opt.insert(2);
+    /// assert_eq!(*val, 2);
+    /// *val = 3;
+    /// assert_eq!(opt.unwrap(), 3);
+    /// ```
+    #[inline]
+    #[unstable(feature = "option_insert", reason = "newly added", issue = "78271")]
+    pub fn insert(&mut self, value: T) -> &mut T {
+        *self = Some(value);
+
+        match self {
+            Some(v) => v,
+            // SAFETY: the code above just filled the option
+            None => unsafe { hint::unreachable_unchecked() },
+        }
+    }
+
     /////////////////////////////////////////////////////////////////////////
     // Iterator constructors
     /////////////////////////////////////////////////////////////////////////
@@ -792,7 +822,7 @@ impl<T> Option<T> {
     // Entry-like operations to insert if None and return a reference
     /////////////////////////////////////////////////////////////////////////
 
-    /// Inserts `v` into the option if it is [`None`], then
+    /// Inserts `value` into the option if it is [`None`], then
     /// returns a mutable reference to the contained value.
     ///
     /// # Examples
@@ -811,12 +841,12 @@ impl<T> Option<T> {
     /// ```
     #[inline]
     #[stable(feature = "option_entry", since = "1.20.0")]
-    pub fn get_or_insert(&mut self, v: T) -> &mut T {
-        self.get_or_insert_with(|| v)
+    pub fn get_or_insert(&mut self, value: T) -> &mut T {
+        self.get_or_insert_with(|| value)
     }
 
-    /// Inserts a value computed from `f` into the option if it is [`None`], then
-    /// returns a mutable reference to the contained value.
+    /// Inserts a value computed from `f` into the option if it is [`None`],
+    /// then returns a mutable reference to the contained value.
     ///
     /// # Examples
     ///
@@ -839,8 +869,8 @@ impl<T> Option<T> {
             *self = Some(f());
         }
 
-        match *self {
-            Some(ref mut v) => v,
+        match self {
+            Some(v) => v,
             // SAFETY: a `None` variant for `self` would have been replaced by a `Some`
             // variant in the code above.
             None => unsafe { hint::unreachable_unchecked() },