diff --git a/src/index.ts b/src/index.ts
index 529be61618..081660d3d8 100644
--- a/src/index.ts
+++ b/src/index.ts
@@ -4,7 +4,8 @@ import generate from './generators/dom/index';
 import generateSSR from './generators/server-side-rendering/index';
 import { assign } from './shared/index.js';
 import Stylesheet from './css/Stylesheet';
-import { Parsed, CompileOptions, Warning } from './interfaces';
+import { Parsed, CompileOptions, Warning, PreprocessOptions, Preprocessor } from './interfaces';
+import { SourceMap } from 'magic-string';
 
 const version = '__VERSION__';
 
@@ -34,9 +35,74 @@ function defaultOnerror(error: Error) {
 	throw error;
 }
 
+function parseAttributeValue(value: string) {
+	return /^['"]/.test(value) ?
+		value.slice(1, -1) :
+		value;
+}
+
+function parseAttributes(str: string) {
+	const attrs = {};
+	str.split(/\s+/).filter(Boolean).forEach(attr => {
+		const [name, value] = attr.split('=');
+		attrs[name] = value ? parseAttributeValue(value) : true;
+	});
+	return attrs;
+}
+
+async function replaceTagContents(source, type: 'script' | 'style', preprocessor: Preprocessor) {
+	const exp = new RegExp(`<${type}([\\S\\s]*?)>([\\S\\s]*?)<\\/${type}>`, 'ig');
+	const match = exp.exec(source);
+
+	if (match) {
+		const attributes: Record<string, string | boolean> = parseAttributes(match[1]);
+		const content: string = match[2];
+		const processed: { code: string, map?: SourceMap | string } = await preprocessor({
+			content,
+			attributes
+		});
+
+		if (processed && processed.code) {
+			return (
+				source.slice(0, match.index) +
+				`<${type}>${processed.code}</${type}>` +
+				source.slice(match.index + match[0].length)
+			);
+		}
+	}
+
+	return source;
+}
+
+export async function preprocess(source: string, options: PreprocessOptions) {
+	const { markup, style, script } = options;
+	if (!!markup) {
+		const processed: { code: string, map?: SourceMap | string } = await markup({ content: source });
+		source = processed.code;
+	}
+
+	if (!!style) {
+		source = await replaceTagContents(source, 'style', style);
+	}
+
+	if (!!script) {
+		source = await replaceTagContents(source, 'script', script);
+	}
+
+	return {
+		// TODO return separated output, in future version where svelte.compile supports it:
+		// style: { code: styleCode, map: styleMap },
+		// script { code: scriptCode, map: scriptMap },
+		// markup { code: markupCode, map: markupMap },
+
+		toString() {
+			return source;
+		}
+	};
+}
+
 export function compile(source: string, _options: CompileOptions) {
 	const options = normalizeOptions(_options);
-
 	let parsed: Parsed;
 
 	try {
@@ -53,7 +119,7 @@ export function compile(source: string, _options: CompileOptions) {
 	const compiler = options.generate === 'ssr' ? generateSSR : generate;
 
 	return compiler(parsed, source, stylesheet, options);
-}
+};
 
 export function create(source: string, _options: CompileOptions = {}) {
 	_options.format = 'eval';
@@ -65,7 +131,7 @@ export function create(source: string, _options: CompileOptions = {}) {
 	}
 
 	try {
-		return (0,eval)(compiled.code);
+		return (0, eval)(compiled.code);
 	} catch (err) {
 		if (_options.onerror) {
 			_options.onerror(err);
diff --git a/src/interfaces.ts b/src/interfaces.ts
index 3a9280df3c..0d884f8472 100644
--- a/src/interfaces.ts
+++ b/src/interfaces.ts
@@ -1,3 +1,5 @@
+import {SourceMap} from 'magic-string';
+
 export interface Node {
 	start: number;
 	end: number;
@@ -78,4 +80,12 @@ export interface Visitor {
 export interface CustomElementOptions {
 	tag?: string;
 	props?: string[];
-}
\ No newline at end of file
+}
+
+export interface PreprocessOptions {
+	markup?: (options: {content: string}) => { code: string, map?: SourceMap | string };
+	style?: Preprocessor;
+	script?: Preprocessor;
+}
+
+export type Preprocessor = (options: {content: string, attributes: Record<string, string | boolean>}) => { code: string, map?: SourceMap | string };
diff --git a/test/preprocess/index.js b/test/preprocess/index.js
new file mode 100644
index 0000000000..29eaff67f1
--- /dev/null
+++ b/test/preprocess/index.js
@@ -0,0 +1,148 @@
+import assert from 'assert';
+import {svelte} from '../helpers.js';
+
+describe('preprocess', () => {
+	it('preprocesses entire component', () => {
+		const source = `
+			<h1>Hello __NAME__!</h1>
+		`;
+
+		const expected = `
+			<h1>Hello world!</h1>
+		`;
+
+		return svelte.preprocess(source, {
+			markup: ({ content }) => {
+				return {
+					code: content.replace('__NAME__', 'world')
+				};
+			}
+		}).then(processed => {
+			assert.equal(processed.toString(), expected);
+		});
+	});
+
+	it('preprocesses style', () => {
+		const source = `
+			<div class='brand-color'>$brand</div>
+
+			<style>
+				.brand-color {
+					color: $brand;
+				}
+			</style>
+		`;
+
+		const expected = `
+			<div class='brand-color'>$brand</div>
+
+			<style>
+				.brand-color {
+					color: purple;
+				}
+			</style>
+		`;
+
+		return svelte.preprocess(source, {
+			style: ({ content }) => {
+				return {
+					code: content.replace('$brand', 'purple')
+				};
+			}
+		}).then(processed => {
+			assert.equal(processed.toString(), expected);
+		});
+	});
+
+	it('preprocesses style asynchronously', () => {
+		const source = `
+			<div class='brand-color'>$brand</div>
+
+			<style>
+				.brand-color {
+					color: $brand;
+				}
+			</style>
+		`;
+
+		const expected = `
+			<div class='brand-color'>$brand</div>
+
+			<style>
+				.brand-color {
+					color: purple;
+				}
+			</style>
+		`;
+
+		return svelte.preprocess(source, {
+			style: ({ content }) => {
+				return Promise.resolve({
+					code: content.replace('$brand', 'purple')
+				});
+			}
+		}).then(processed => {
+			assert.equal(processed.toString(), expected);
+		});
+	});
+
+	it('preprocesses script', () => {
+		const source = `
+			<script>
+				console.log(__THE_ANSWER__);
+			</script>
+		`;
+
+		const expected = `
+			<script>
+				console.log(42);
+			</script>
+		`;
+
+		return svelte.preprocess(source, {
+			script: ({ content }) => {
+				return {
+					code: content.replace('__THE_ANSWER__', '42')
+				};
+			}
+		}).then(processed => {
+			assert.equal(processed.toString(), expected);
+		});
+	});
+
+	it('parses attributes', () => {
+		const source = `
+			<style type='text/scss' data-foo="bar" bool></style>
+		`;
+
+		return svelte.preprocess(source, {
+			style: ({ attributes }) => {
+				assert.deepEqual(attributes, {
+					type: 'text/scss',
+					'data-foo': 'bar',
+					bool: true
+				});
+			}
+		});
+	});
+
+	it('ignores null/undefined returned from preprocessor', () => {
+		const source = `
+			<script>
+				console.log('ignore me');
+			</script>
+		`;
+
+		const expected = `
+			<script>
+				console.log('ignore me');
+			</script>
+		`;
+
+		return svelte.preprocess(source, {
+			script: () => null
+		}).then(processed => {
+			assert.equal(processed.toString(), expected);
+		});
+	});
+});
\ No newline at end of file
diff --git a/yarn.lock b/yarn.lock
index 4a8c3799e3..c38c354a78 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -64,8 +64,8 @@ ajv@^4.9.1:
     json-stable-stringify "^1.0.1"
 
 ajv@^5.1.0, ajv@^5.2.3, ajv@^5.3.0:
-  version "5.5.0"
-  resolved "https://registry.yarnpkg.com/ajv/-/ajv-5.5.0.tgz#eb2840746e9dc48bd5e063a36e3fd400c5eab5a9"
+  version "5.5.1"
+  resolved "https://registry.yarnpkg.com/ajv/-/ajv-5.5.1.tgz#b38bb8876d9e86bee994956a04e721e88b248eb2"
   dependencies:
     co "^4.6.0"
     fast-deep-equal "^1.0.0"
@@ -538,8 +538,8 @@ commander@2.9.0:
     graceful-readlink ">= 1.0.0"
 
 commander@^2.9.0:
-  version "2.12.1"
-  resolved "https://registry.yarnpkg.com/commander/-/commander-2.12.1.tgz#468635c4168d06145b9323356d1da84d14ac4a7a"
+  version "2.12.2"
+  resolved "https://registry.yarnpkg.com/commander/-/commander-2.12.2.tgz#0f5946c427ed9ec0d91a46bb9def53e54650e555"
 
 commondir@^1.0.1:
   version "1.0.1"
@@ -887,8 +887,8 @@ eslint-scope@^3.7.1:
     estraverse "^4.1.1"
 
 eslint@^4.3.0:
-  version "4.12.0"
-  resolved "https://registry.yarnpkg.com/eslint/-/eslint-4.12.0.tgz#a7ce78eba8cc8f2443acfbbc870cc31a65135884"
+  version "4.12.1"
+  resolved "https://registry.yarnpkg.com/eslint/-/eslint-4.12.1.tgz#5ec1973822b4a066b353770c3c6d69a2a188e880"
   dependencies:
     ajv "^5.3.0"
     babel-code-frame "^6.22.0"
@@ -1027,10 +1027,14 @@ extract-zip@^1.0.3:
     mkdirp "0.5.0"
     yauzl "2.4.1"
 
-extsprintf@1.3.0, extsprintf@^1.2.0:
+extsprintf@1.3.0:
   version "1.3.0"
   resolved "https://registry.yarnpkg.com/extsprintf/-/extsprintf-1.3.0.tgz#96918440e3041a7a414f8c52e3c574eb3c3e1e05"
 
+extsprintf@^1.2.0:
+  version "1.4.0"
+  resolved "https://registry.yarnpkg.com/extsprintf/-/extsprintf-1.4.0.tgz#e2689f8f356fad62cca65a3a91c5df5f9551692f"
+
 fast-deep-equal@^1.0.0:
   version "1.0.0"
   resolved "https://registry.yarnpkg.com/fast-deep-equal/-/fast-deep-equal-1.0.0.tgz#96256a3bc975595eb36d82e9929d060d893439ff"
@@ -1600,8 +1604,8 @@ is-path-in-cwd@^1.0.0:
     is-path-inside "^1.0.0"
 
 is-path-inside@^1.0.0:
-  version "1.0.0"
-  resolved "https://registry.yarnpkg.com/is-path-inside/-/is-path-inside-1.0.0.tgz#fc06e5a1683fbda13de667aff717bbc10a48f37f"
+  version "1.0.1"
+  resolved "https://registry.yarnpkg.com/is-path-inside/-/is-path-inside-1.0.1.tgz#8ef5b7de50437a3fdca6b4e865ef7aa55cb48036"
   dependencies:
     path-is-inside "^1.0.1"
 
@@ -1872,8 +1876,8 @@ load-json-file@^2.0.0:
     strip-bom "^3.0.0"
 
 locate-character@^2.0.0:
-  version "2.0.1"
-  resolved "https://registry.yarnpkg.com/locate-character/-/locate-character-2.0.1.tgz#48f9599f342daf26f73db32f45941eae37bae391"
+  version "2.0.3"
+  resolved "https://registry.yarnpkg.com/locate-character/-/locate-character-2.0.3.tgz#85a5aedae26b3536c3e97016af164cdaa3ae5ae1"
 
 locate-path@^2.0.0:
   version "2.0.0"
@@ -3292,8 +3296,8 @@ typescript@^1.8.9:
   resolved "https://registry.yarnpkg.com/typescript/-/typescript-1.8.10.tgz#b475d6e0dff0bf50f296e5ca6ef9fbb5c7320f1e"
 
 typescript@^2.6.1:
-  version "2.6.1"
-  resolved "https://registry.yarnpkg.com/typescript/-/typescript-2.6.1.tgz#ef39cdea27abac0b500242d6726ab90e0c846631"
+  version "2.6.2"
+  resolved "https://registry.yarnpkg.com/typescript/-/typescript-2.6.2.tgz#3c5b6fd7f6de0914269027f03c0946758f7673a4"
 
 uglify-js@^2.6:
   version "2.8.29"