diff --git a/src/System.Management.Automation/engine/InternalCommands.cs b/src/System.Management.Automation/engine/InternalCommands.cs
index 406a9b6176..9f861b5b78 100644
--- a/src/System.Management.Automation/engine/InternalCommands.cs
+++ b/src/System.Management.Automation/engine/InternalCommands.cs
@@ -260,6 +260,14 @@ namespace Microsoft.PowerShell.Commands
         [Parameter(ParameterSetName = ForEachObjectCommand.ParallelParameterSet)]
         public SwitchParameter AsJob { get; set; }
 
+        /// <summary>
+        /// Gets or sets a flag so that a new runspace object is created for each loop iteration, instead of reusing objects
+        /// from the runspace pool.
+        /// By default, runspaces are reused from a runspace pool.
+        /// </summary>
+        [Parameter(ParameterSetName = ForEachObjectCommand.ParallelParameterSet)]
+        public SwitchParameter UseNewRunspace { get; set; }
+
         #endregion
 
         #region Overrides
@@ -437,7 +445,8 @@ namespace Microsoft.PowerShell.Commands
 
                 _taskJob = new PSTaskJob(
                     Parallel.ToString(),
-                    ThrottleLimit);
+                    ThrottleLimit,
+                    UseNewRunspace);
 
                 return;
             }
@@ -445,7 +454,7 @@ namespace Microsoft.PowerShell.Commands
             // Set up for synchronous processing and data streaming.
             _taskCollection = new PSDataCollection<System.Management.Automation.PSTasks.PSTask>();
             _taskDataStreamWriter = new PSTaskDataStreamWriter(this);
-            _taskPool = new PSTaskPool(ThrottleLimit);
+            _taskPool = new PSTaskPool(ThrottleLimit, UseNewRunspace);
             _taskPool.PoolComplete += (sender, args) =>
             {
                 _taskDataStreamWriter.Close();
diff --git a/src/System.Management.Automation/engine/hostifaces/PSTask.cs b/src/System.Management.Automation/engine/hostifaces/PSTask.cs
index c52715927b..45b3e94491 100644
--- a/src/System.Management.Automation/engine/hostifaces/PSTask.cs
+++ b/src/System.Management.Automation/engine/hostifaces/PSTask.cs
@@ -1,6 +1,7 @@
 // Copyright (c) Microsoft Corporation. All rights reserved.
 // Licensed under the MIT License.
 
+using System.Collections.Concurrent;
 using System.Collections.Generic;
 using System.Globalization;
 using System.Management.Automation.Host;
@@ -320,7 +321,7 @@ namespace System.Management.Automation.PSTasks
         protected PowerShell _powershell;
         protected PSDataCollection<PSObject> _output;
 
-        private const string RunspaceName = "PSTask";
+        public const string RunspaceName = "PSTask";
 
         private static int s_taskId;
 
@@ -364,6 +365,11 @@ namespace System.Management.Automation.PSTasks
         /// </summary>
         public int Id { get => _id; }
 
+        /// <summary>
+        /// Gets Task Runspace.
+        /// </summary>
+        public Runspace Runspace { get => _runspace; }
+
         #endregion
 
         #region Constructor
@@ -410,7 +416,6 @@ namespace System.Management.Automation.PSTasks
         /// </summary>
         public void Dispose()
         {
-            _runspace.Dispose();
             _powershell.Dispose();
             _output.Dispose();
         }
@@ -422,7 +427,8 @@ namespace System.Management.Automation.PSTasks
         /// <summary>
         /// Start task.
         /// </summary>
-        public void Start()
+        /// <param name="runspace">Runspace used to run task.</param>
+        public void Start(Runspace runspace)
         {
             if (_powershell != null)
             {
@@ -430,13 +436,8 @@ namespace System.Management.Automation.PSTasks
                 return;
             }
 
-            // Create and open Runspace for this task to run in
-            var iss = InitialSessionState.CreateDefault2();
-            iss.LanguageMode = (SystemPolicy.GetSystemLockdownPolicy() == SystemEnforcementMode.Enforce)
-                ? PSLanguageMode.ConstrainedLanguage : PSLanguageMode.FullLanguage;
-            _runspace = RunspaceFactory.CreateRunspace(iss);
-            _runspace.Name = string.Format(CultureInfo.InvariantCulture, "{0}:{1}", RunspaceName, s_taskId);
-            _runspace.Open();
+            Dbg.Assert(runspace != null, "Task runspace cannot be null.");
+            _runspace = runspace;
 
             // If available, set current working directory on the runspace.
             // Temporarily set the newly created runspace as the thread default runspace for any needed module loading.
@@ -445,8 +446,8 @@ namespace System.Management.Automation.PSTasks
                 var oldDefaultRunspace = Runspace.DefaultRunspace;
                 try
                 {
-                    Runspace.DefaultRunspace = _runspace;
-                    _runspace.ExecutionContext.SessionState.Internal.SetLocation(_currentLocationPath);
+                    Runspace.DefaultRunspace = runspace;
+                    runspace.ExecutionContext.SessionState.Internal.SetLocation(_currentLocationPath);
                 }
                 finally
                 {
@@ -456,7 +457,7 @@ namespace System.Management.Automation.PSTasks
 
             // Create the PowerShell command pipeline for the provided script block
             // The script will run on the provided Runspace in a new thread by default
-            _powershell = PowerShell.Create(_runspace);
+            _powershell = PowerShell.Create(runspace);
 
             // Initialize PowerShell object data streams and event handlers
             _output = new PSDataCollection<PSObject>();
@@ -632,8 +633,13 @@ namespace System.Management.Automation.PSTasks
         private readonly ManualResetEvent _stopAll;
         private readonly object _syncObject;
         private readonly Dictionary<int, PSTaskBase> _taskPool;
+        private readonly ConcurrentQueue<Runspace> _runspacePool;
+        private readonly ConcurrentDictionary<int, Runspace> _activeRunspaces;
         private readonly WaitHandle[] _waitHandles;
+        private readonly bool _useRunspacePool;
         private bool _isOpen;
+        private bool _stopping;
+        private int _createdRunspaceCount;
 
         private const int AddAvailable = 0;
         private const int Stop = 1;
@@ -648,9 +654,13 @@ namespace System.Management.Automation.PSTasks
         /// Initializes a new instance of the <see cref="PSTaskPool"/> class.
         /// </summary>
         /// <param name="size">Total number of allowed running objects in pool at one time.</param>
-        public PSTaskPool(int size)
+        /// <param name="useNewRunspace">When true, a new runspace object is created for the task instead of reusing one from the pool.</param>
+        public PSTaskPool(
+            int size,
+            bool useNewRunspace)
         {
             _sizeLimit = size;
+            _useRunspacePool = !useNewRunspace;
             _isOpen = true;
             _syncObject = new object();
             _addAvailable = new ManualResetEvent(true);
@@ -661,6 +671,11 @@ namespace System.Management.Automation.PSTasks
                 _stopAll,           // index 1
             };
             _taskPool = new Dictionary<int, PSTaskBase>(size);
+            _activeRunspaces = new ConcurrentDictionary<int, Runspace>();
+            if (_useRunspacePool)
+            {
+                _runspacePool = new ConcurrentQueue<Runspace>();
+            }
         }
 
         #endregion
@@ -684,6 +699,14 @@ namespace System.Management.Automation.PSTasks
             get => _isOpen;
         }
 
+        /// <summary>
+        /// Gets a value of the count of total runspaces allocated.
+        /// </summary>
+        public int AllocatedRunspaceCount
+        {
+            get => _createdRunspaceCount;
+        }
+
         #endregion
 
         #region IDisposable
@@ -695,6 +718,21 @@ namespace System.Management.Automation.PSTasks
         {
             _addAvailable.Dispose();
             _stopAll.Dispose();
+
+            DisposeRunspaces();
+        }
+
+        /// <summary>
+        /// Dispose runspaces.
+        /// </summary>
+        internal void DisposeRunspaces()
+        {
+            foreach (var item in _activeRunspaces)
+            {
+                item.Value.Dispose();
+            }
+            
+            _activeRunspaces.Clear();
         }
 
         #endregion
@@ -721,6 +759,7 @@ namespace System.Management.Automation.PSTasks
             switch (index)
             {
                 case AddAvailable:
+                    var runspace = GetRunspace(task.Id);
                     task.StateChanged += HandleTaskStateChangedDelegate;
                     lock (_syncObject)
                     {
@@ -735,7 +774,7 @@ namespace System.Management.Automation.PSTasks
                             _addAvailable.Reset();
                         }
 
-                        task.Start();
+                        task.Start(runspace);
                     }
 
                     return true;
@@ -763,18 +802,28 @@ namespace System.Management.Automation.PSTasks
         /// </summary>
         public void StopAll()
         {
+            _stopping = true;
+
             // Accept no more input
             Close();
             _stopAll.Set();
 
             // Stop all running tasks
+            PSTaskBase[] tasksToStop;
             lock (_syncObject)
             {
-                foreach (var task in _taskPool.Values)
-                {
-                    task.Dispose();
-                }
+                tasksToStop = new PSTaskBase[_taskPool.Values.Count];
+                _taskPool.Values.CopyTo(tasksToStop, 0);
             }
+
+            foreach (var task in tasksToStop)
+            {
+                task.Dispose();
+            }
+
+            // Dispose all active runspaces
+            DisposeRunspaces();
+            _stopping = false;
         }
 
         /// <summary>
@@ -803,6 +852,7 @@ namespace System.Management.Automation.PSTasks
                 case PSInvocationState.Completed:
                 case PSInvocationState.Stopped:
                 case PSInvocationState.Failed:
+                    ReturnRunspace(task);
                     lock (_syncObject)
                     {
                         _taskPool.Remove(task.Id);
@@ -813,7 +863,12 @@ namespace System.Management.Automation.PSTasks
                     }
 
                     task.StateChanged -= HandleTaskStateChangedDelegate;
-                    task.Dispose();
+                    if (!_stopping)
+                    {
+                        // StopAll disposes tasks.
+                        task.Dispose();
+                    }
+
                     CheckForComplete();
                     break;
             }
@@ -842,6 +897,64 @@ namespace System.Management.Automation.PSTasks
             }
         }
 
+        private Runspace GetRunspace(int taskId)
+        {
+            var runspaceName = string.Format(CultureInfo.InvariantCulture, "{0}:{1}", PSTask.RunspaceName, taskId);
+
+            if (_useRunspacePool && _runspacePool.TryDequeue(out Runspace runspace))
+            {
+                if (runspace.RunspaceStateInfo.State == RunspaceState.Opened &&
+                    runspace.RunspaceAvailability == RunspaceAvailability.Available)
+                {
+                    try
+                    {
+                        runspace.ResetRunspaceState();
+                        runspace.Name = runspaceName;
+                        return runspace;
+                    }
+                    catch
+                    {
+                        // If the runspace cannot be reset for any reason, remove it.
+                    }
+                }
+
+                RemoveActiveRunspace(runspace);
+            }
+
+            // Create and initialize a new Runspace
+            var iss = InitialSessionState.CreateDefault2();
+            iss.LanguageMode = (SystemPolicy.GetSystemLockdownPolicy() == SystemEnforcementMode.Enforce)
+                ? PSLanguageMode.ConstrainedLanguage : PSLanguageMode.FullLanguage;
+            runspace = RunspaceFactory.CreateRunspace(iss);
+            runspace.Name = runspaceName;
+            _activeRunspaces.TryAdd(runspace.Id, runspace);
+            runspace.Open();
+            _createdRunspaceCount++;
+
+            return runspace;
+        }
+
+        private void ReturnRunspace(PSTaskBase task)
+        {
+            var runspace = task.Runspace;
+            Dbg.Assert(runspace != null, "Task runspace cannot be null.");
+            if (_useRunspacePool &&
+                runspace.RunspaceStateInfo.State == RunspaceState.Opened &&
+                runspace.RunspaceAvailability == RunspaceAvailability.Available)
+            {
+                _runspacePool.Enqueue(runspace);
+                return;
+            }
+
+            RemoveActiveRunspace(runspace);
+        }
+
+        private void RemoveActiveRunspace(Runspace runspace)
+        {
+            runspace.Dispose();
+            _activeRunspaces.TryRemove(runspace.Id, out Runspace _);
+        }
+
         #endregion
     }
 
@@ -852,7 +965,7 @@ namespace System.Management.Automation.PSTasks
     /// <summary>
     /// Job for running ForEach-Object parallel task child jobs asynchronously.
     /// </summary>
-    internal sealed class PSTaskJob : Job
+    public sealed class PSTaskJob : Job
     {
         #region Members
 
@@ -862,6 +975,18 @@ namespace System.Management.Automation.PSTasks
 
         #endregion
 
+        #region Properties
+
+        /// <summary>
+        /// Gets a value of the count of total runspaces allocated.
+        /// </summary>
+        public int AllocatedRunspaceCount
+        {
+            get => _taskPool.AllocatedRunspaceCount;
+        }
+
+        #endregion
+
         #region Constructor
 
         private PSTaskJob() { }
@@ -871,11 +996,13 @@ namespace System.Management.Automation.PSTasks
         /// </summary>
         /// <param name="command">Job command text.</param>
         /// <param name="throttleLimit">Pool size limit for task job.</param>
-        public PSTaskJob(
+        /// <param name="useNewRunspace">When true, a new runspace object is created for the task instead of reusing one from the pool.</param>
+        internal PSTaskJob(
             string command,
-            int throttleLimit) : base(command, string.Empty)
+            int throttleLimit,
+            bool useNewRunspace) : base(command, string.Empty)
         {
-            _taskPool = new PSTaskPool(throttleLimit);
+            _taskPool = new PSTaskPool(throttleLimit, useNewRunspace);
             _isOpen = true;
             PSJobTypeName = nameof(PSTaskJob);
 
@@ -949,14 +1076,14 @@ namespace System.Management.Automation.PSTasks
 
         #endregion
 
-        #region Public Methods
+        #region Internal Methods
 
         /// <summary>
         /// Add a child job to the collection.
         /// </summary>
         /// <param name="childJob">Child job to add.</param>
         /// <returns>True when child job is successfully added.</returns>
-        public bool AddJob(PSTaskChildJob childJob)
+        internal bool AddJob(PSTaskChildJob childJob)
         {
             if (!_isOpen)
             {
@@ -971,7 +1098,7 @@ namespace System.Management.Automation.PSTasks
         /// Closes this parent job to adding more child jobs and starts
         /// the child jobs running with the provided throttle limit.
         /// </summary>
-        public void Start()
+        internal void Start()
         {
             _isOpen = false;
             SetJobState(JobState.Running);
@@ -1017,6 +1144,9 @@ namespace System.Management.Automation.PSTasks
                 }
 
                 SetJobState(finalState);
+
+                // Release job task pool runspace resources.
+                (sender as PSTaskPool).DisposeRunspaces();
             }
             catch (ObjectDisposedException)
             { }
diff --git a/test/powershell/Modules/Microsoft.PowerShell.Utility/Foreach-Object-Parallel.Tests.ps1 b/test/powershell/Modules/Microsoft.PowerShell.Utility/Foreach-Object-Parallel.Tests.ps1
index ce8bc8c1ce..2e6c5404fd 100644
--- a/test/powershell/Modules/Microsoft.PowerShell.Utility/Foreach-Object-Parallel.Tests.ps1
+++ b/test/powershell/Modules/Microsoft.PowerShell.Utility/Foreach-Object-Parallel.Tests.ps1
@@ -314,6 +314,23 @@ Describe 'ForEach-Object -Parallel -AsJob Basic Tests' -Tags 'CI' {
     }
 }
 
+Describe 'ForEach-Object -Parallel runspace pool tests' -Tags 'CI' {
+
+    It "Verifies job allocated runspace count is limited to pool size" {
+
+        $job = 1..4 | ForEach-Object -Parallel { Start-Sleep 1 } -AsJob -ThrottleLimit 2 | Wait-Job
+        $job.AllocatedRunspaceCount | Should -BeExactly 2
+        $job | Remove-Job
+    }
+
+    It "Verifies job with -UseNewRunspace switch allocates one runspace per iteration" {
+
+        $job = 1..10 | ForEach-Object -Parallel { $_ } -AsJob -ThrottleLimit 2 -UseNewRunspace | Wait-Job
+        $job.AllocatedRunspaceCount | Should -BeExactly 10
+        $job | Remove-Job
+    }
+}
+
 Describe 'ForEach-Object -Parallel Functional Tests' -Tags 'Feature' {
 
     It 'Verifies job queuing and throttle limit' {