diff --git a/src/mcts/params.cc b/src/mcts/params.cc
index 22310477e1..5d9b58eee4 100644
--- a/src/mcts/params.cc
+++ b/src/mcts/params.cc
@@ -299,6 +299,14 @@ const OptionId SearchParams::kPolicySoftmaxTempId{
     "policy-softmax-temp", "PolicyTemperature",
     "Policy softmax temperature. Higher values make priors of move candidates "
     "closer to each other, widening the search."};
+const OptionId SearchParams::kPolicyDecayExponentId{
+    "policy-decay-exponent", "PolicyDecayExponent",
+    "Policy decay exponent. Sets the exponent of the visit based policy decay "
+    "term."};
+const OptionId SearchParams::kPolicyDecayFactorId{
+    "policy-decay-factor", "PolicyDecayFactor",
+    "Policy decay factor. Scales the visit count for the visit based policy "
+    "decay term."};
 const OptionId SearchParams::kMaxCollisionVisitsId{
     "max-collision-visits", "MaxCollisionVisits",
     "Total allowed node collision visits, per batch."};
@@ -522,6 +530,8 @@ void SearchParams::Populate(OptionsParser* options) {
   options->Add<FloatOption>(kFpuValueAtRootId, -100.0f, 100.0f) = 1.0f;
   options->Add<IntOption>(kCacheHistoryLengthId, 0, 7) = 0;
   options->Add<FloatOption>(kPolicySoftmaxTempId, 0.1f, 10.0f) = 1.359f;
+  options->Add<FloatOption>(kPolicyDecayExponentId, 0.0f, 10.0f) = 0.5f;
+  options->Add<FloatOption>(kPolicyDecayFactorId, 0.0f, 1.0f) = 0.0001f;
   options->Add<IntOption>(kMaxCollisionEventsId, 1, 65536) = 917;
   options->Add<IntOption>(kMaxCollisionVisitsId, 1, 100000000) = 80000;
   options->Add<IntOption>(kMaxCollisionVisitsScalingStartId, 1, 100000) = 28;
@@ -637,6 +647,8 @@ SearchParams::SearchParams(const OptionsDict& options)
                           : options.Get<float>(kFpuValueAtRootId)),
       kCacheHistoryLength(options.Get<int>(kCacheHistoryLengthId)),
       kPolicySoftmaxTemp(options.Get<float>(kPolicySoftmaxTempId)),
+      kPolicyDecayExponent(options.Get<float>(kPolicyDecayExponentId)),
+      kPolicyDecayFactor(options.Get<float>(kPolicyDecayFactorId)),
       kMaxCollisionEvents(options.Get<int>(kMaxCollisionEventsId)),
       kMaxCollisionVisits(options.Get<int>(kMaxCollisionVisitsId)),
       kOutOfOrderEval(options.Get<bool>(kOutOfOrderEvalId)),
diff --git a/src/mcts/params.h b/src/mcts/params.h
index df02f124fb..0a59f66a37 100644
--- a/src/mcts/params.h
+++ b/src/mcts/params.h
@@ -95,6 +95,8 @@ class SearchParams {
   }
   int GetCacheHistoryLength() const { return kCacheHistoryLength; }
   float GetPolicySoftmaxTemp() const { return kPolicySoftmaxTemp; }
+  float GetPolicyDecayExponent() const { return kPolicyDecayExponent; }
+  float GetPolicyDecayFactor() const { return kPolicyDecayFactor; }
   int GetMaxCollisionEvents() const { return kMaxCollisionEvents; }
   int GetMaxCollisionVisits() const { return kMaxCollisionVisits; }
   bool GetOutOfOrderEval() const { return kOutOfOrderEval; }
@@ -191,6 +193,8 @@ class SearchParams {
   static const OptionId kFpuValueAtRootId;
   static const OptionId kCacheHistoryLengthId;
   static const OptionId kPolicySoftmaxTempId;
+  static const OptionId kPolicyDecayExponentId;
+  static const OptionId kPolicyDecayFactorId;
   static const OptionId kMaxCollisionEventsId;
   static const OptionId kMaxCollisionVisitsId;
   static const OptionId kOutOfOrderEvalId;
@@ -259,6 +263,8 @@ class SearchParams {
   const float kFpuValueAtRoot;
   const int kCacheHistoryLength;
   const float kPolicySoftmaxTemp;
+  const float kPolicyDecayExponent;
+  const float kPolicyDecayFactor;
   const int kMaxCollisionEvents;
   const int kMaxCollisionVisits;
   const bool kOutOfOrderEval;
diff --git a/src/mcts/search.cc b/src/mcts/search.cc
index b3326a7661..884175e100 100644
--- a/src/mcts/search.cc
+++ b/src/mcts/search.cc
@@ -456,6 +456,18 @@ inline float ComputeCpuct(const SearchParams& params, uint32_t N,
   const float base = params.GetCpuctBase(is_root_node);
   return init + (k ? k * FastLog((N + base) / base) : 0.0f);
 }
+
+inline float ComputePolicyDecayFactor(const SearchParams& params, uint32_t N) {
+  const float exponent = params.GetPolicyDecayExponent();
+  const float proportionality_factor = params.GetPolicyDecayFactor();
+  return (exponent == 0.0f || proportionality_factor == 0.0f)
+             ? 1.0f
+             : FastExp(-FastLog(1.0f + proportionality_factor * N) * exponent);
+}
+
+inline float ComputePolicyDecay(const float factor, const float pol) {
+  return factor == 1.0f ? pol : pol / (pol + (1.0f - pol) * factor);
+}
 }  // namespace
 
 std::vector<std::string> Search::GetVerboseStats(Node* node) const {
@@ -1720,10 +1732,17 @@ void SearchWorker::PickNodesToExtendTask(
                                    ? odd_draw_score
                                    : even_draw_score;
       m_evaluator.SetParent(node);
+      // Store the policy decay factor here since it is only dependent on the
+      // visit count of node and not of children.
+      const float policy_decay_factor =
+          ComputePolicyDecayFactor(params_, node->GetN());
       float visited_pol = 0.0f;
       for (Node* child : node->VisitedNodes()) {
         int index = child->Index();
         visited_pol += current_pol[index];
+        // Apply policy decay and store the value.
+        current_pol[index] = ComputePolicyDecay(policy_decay_factor,
+                                                current_pol[index]);
         float q = child->GetQ(draw_score);
         current_util[index] = q + m_evaluator.GetMUtility(child, q);
       }