diff --git a/include/boost/hana/fwd/optional.hpp b/include/boost/hana/fwd/optional.hpp
index 0c7da4bd91..d7aad34957 100644
--- a/include/boost/hana/fwd/optional.hpp
+++ b/include/boost/hana/fwd/optional.hpp
@@ -250,6 +250,11 @@ namespace boost { namespace hana {
     //! `make<optional_tag>(x)` is equivalent to `just(x)`. This is provided
     //! for consistency with the other `make<...>` functions.
     //!
+    //! @note
+    //! `make<optional_tag>` supports reference wrappers. When a reference
+    //! wrapper is passed to it, the resulting `hana::optional` will hold a
+    //! reference to the object instead of the object itself.
+    //!
     //!
     //! Example
     //! -------
diff --git a/include/boost/hana/optional.hpp b/include/boost/hana/optional.hpp
index c9e73bc452..4e80e69747 100644
--- a/include/boost/hana/optional.hpp
+++ b/include/boost/hana/optional.hpp
@@ -14,6 +14,7 @@ Distributed under the Boost Software License, Version 1.0.
 
 #include <boost/hana/bool.hpp>
 #include <boost/hana/core/tag_of.hpp>
+#include <boost/hana/detail/as_container_element.hpp>
 #include <boost/hana/detail/operators/adl.hpp>
 #include <boost/hana/detail/operators/comparable.hpp>
 #include <boost/hana/detail/operators/monad.hpp>
@@ -58,6 +59,9 @@ namespace boost { namespace hana {
         constexpr optional(optional const&) = default;
         constexpr optional(optional&&) = default;
 
+        template <typename U = T, typename = typename std::enable_if<
+            !std::is_reference<U>::value
+        >::type>
         constexpr optional(T const& t)
             : value_(t)
         { }
@@ -71,8 +75,15 @@ namespace boost { namespace hana {
         constexpr optional& operator=(optional&&) = default;
 
         // 5.3.5, Observers
-        constexpr T const* operator->() const { return &value_; }
-        constexpr T* operator->() { return &value_; }
+        template <typename U = T, typename = typename std::enable_if<
+            !std::is_reference<U>::value
+        >::type>
+        constexpr U const* operator->() const { return &value_; }
+
+        template <typename U = T, typename = typename std::enable_if<
+            !std::is_reference<U>::value
+        >::type>
+        constexpr U* operator->() { return &value_; }
 
         constexpr T&        value() & { return value_; }
         constexpr T const&  value() const& { return value_; }
@@ -114,7 +125,7 @@ namespace boost { namespace hana {
 
     template <typename T>
     constexpr auto make_just_t::operator()(T&& t) const {
-        return optional<typename std::decay<T>::type>(
+        return optional<detail::as_container_element_t<T>>(
             static_cast<T&&>(t)
         );
     }
diff --git a/test/optional/make.ref.cpp b/test/optional/make.ref.cpp
new file mode 100644
index 0000000000..099f256605
--- /dev/null
+++ b/test/optional/make.ref.cpp
@@ -0,0 +1,43 @@
+/*
+@copyright Louis Dionne 2015
+Distributed under the Boost Software License, Version 1.0.
+(See accompanying file LICENSE.md or copy at http://boost.org/LICENSE_1_0.txt)
+ */
+
+#include <boost/hana/assert.hpp>
+#include <boost/hana/optional.hpp>
+
+#include <functional>
+namespace hana = boost::hana;
+
+
+int main() {
+    {
+        int i = 0;
+        auto ref = hana::just(std::ref(i));
+
+        int& i_ref = *ref;
+        BOOST_HANA_RUNTIME_CHECK(&i_ref == &i);
+
+        i_ref = 3;
+        BOOST_HANA_RUNTIME_CHECK(i == 3);
+    }
+
+    {
+        int const i = 4;
+        auto ref = hana::just(std::cref(i));
+
+        int const& i_ref = *ref;
+        BOOST_HANA_RUNTIME_CHECK(&i_ref == &i);
+        BOOST_HANA_RUNTIME_CHECK(i == 4);
+    }
+
+    // Instantiate .value_or to make sure it works with references.
+    {
+        int i = 0;
+        auto ref = hana::just(std::ref(i));
+        BOOST_HANA_RUNTIME_CHECK(ref.value_or(999) == i);
+        BOOST_HANA_RUNTIME_CHECK(static_cast<decltype(ref)const&>(ref).value_or(999) == i);
+        BOOST_HANA_RUNTIME_CHECK(hana::just(std::ref(i)).value_or(999) == i);
+    }
+}