diff --git a/beets/importer.py b/beets/importer.py
index 561cedd2c6..35eaf70653 100644
--- a/beets/importer.py
+++ b/beets/importer.py
@@ -584,9 +584,9 @@ def set_fields(self, lib):
                       displayable_path(self.paths),
                       field,
                       value)
-            self.album[field] = value
+            self.album.set_parse(field, format(self.album, value))
             for item in items:
-                item[field] = value
+                item.set_parse(field, format(item, value))
         with lib.transaction():
             for item in items:
                 item.store()
@@ -963,7 +963,7 @@ def set_fields(self, lib):
                       displayable_path(self.paths),
                       field,
                       value)
-            self.item[field] = value
+            self.item.set_parse(field, format(self.item, value))
         self.item.store()
 
 
diff --git a/docs/reference/cli.rst b/docs/reference/cli.rst
index d3d5474aad..c2519eda91 100644
--- a/docs/reference/cli.rst
+++ b/docs/reference/cli.rst
@@ -145,6 +145,8 @@ Optional command flags:
   Multiple IDs can be specified by simply repeating the option several times.
 
 * You can supply ``--set field=value`` to assign `field` to `value` on import.
+  Values support the same template syntax as beets'
+  :doc:`path formats <pathformat>`.
   These assignments will merge with (and possibly override) the
   :ref:`set_fields` configuration dictionary. You can use the option multiple
   times on the command line, like so::
diff --git a/docs/reference/config.rst b/docs/reference/config.rst
index 642216c8f7..30fdefa832 100644
--- a/docs/reference/config.rst
+++ b/docs/reference/config.rst
@@ -706,6 +706,9 @@ Here's an example::
 Other field/value pairs supplied via the ``--set`` option on the command-line
 override any settings here for fields with the same name.
 
+Values support the same template syntax as beets'
+:doc:`path formats <pathformat>`.
+
 Fields are set on both the album and each individual track of the album.
 Fields are persisted to the media files of each track.
 
diff --git a/test/test_importer.py b/test/test_importer.py
index 306491af2c..9ec6043940 100644
--- a/test/test_importer.py
+++ b/test/test_importer.py
@@ -554,7 +554,8 @@ def test_set_fields(self):
 
         config['import']['set_fields'] = {
             'collection': collection,
-            'genre': genre
+            'genre': genre,
+            'title': "$title - formatted",
         }
 
         # As-is item import.
@@ -566,6 +567,7 @@ def test_set_fields(self):
             item.load()  # TODO: Not sure this is necessary.
             self.assertEqual(item.genre, genre)
             self.assertEqual(item.collection, collection)
+            self.assertEqual(item.title, "Tag Title 1 - formatted")
             # Remove item from library to test again with APPLY choice.
             item.remove()
 
@@ -579,6 +581,7 @@ def test_set_fields(self):
             item.load()
             self.assertEqual(item.genre, genre)
             self.assertEqual(item.collection, collection)
+            self.assertEqual(item.title, "Applied Title 1 - formatted")
 
 
 class ImportTest(_common.TestCase, ImportHelper):
@@ -743,7 +746,8 @@ def test_set_fields(self):
         config['import']['set_fields'] = {
             'genre': genre,
             'collection': collection,
-            'comments': comments
+            'comments': comments,
+            'album': "$album - formatted",
         }
 
         # As-is album import.
@@ -765,6 +769,9 @@ def test_set_fields(self):
                 self.assertEqual(
                         item.get("comments", with_album=False),
                         comments)
+                self.assertEqual(
+                        item.get("album", with_album=False),
+                        "Tag Album - formatted")
             # Remove album from library to test again with APPLY choice.
             album.remove()
 
@@ -788,6 +795,9 @@ def test_set_fields(self):
                 self.assertEqual(
                         item.get("comments", with_album=False),
                         comments)
+                self.assertEqual(
+                        item.get("album", with_album=False),
+                        "Applied Album - formatted")
 
 
 class ImportTracksTest(_common.TestCase, ImportHelper):