diff --git a/modules/effects/spec/lazy_with_latest_from.spec.ts b/modules/effects/spec/lazy_with_latest_from.spec.ts
new file mode 100644
index 0000000000..c78ffeadda
--- /dev/null
+++ b/modules/effects/spec/lazy_with_latest_from.spec.ts
@@ -0,0 +1,24 @@
+import { of } from 'rxjs';
+import { skipWhile, tap } from 'rxjs/operators';
+import { hot } from 'jasmine-marbles';
+import { lazyWithLatestFrom } from '../src/lazy_with_latest_from';
+
+describe('lazyWithLatestFrom', () => {
+  it('should emit the combined values of the source and provided observables, and evaluate the array of observables only when the source emits a value', () => {
+    let evaluated = false;
+    const toBeLazilyEvaluated = () => {
+      evaluated = true;
+      return of(4);
+    };
+
+    const numbers$ = hot('abc', { a: 1, b: 2, c: 3 }).pipe(
+      skipWhile((number) => number < 3),
+      tap(() => expect(evaluated).toBe(false)),
+      lazyWithLatestFrom(() => [toBeLazilyEvaluated()])
+    );
+
+    expect(evaluated).toBe(false);
+    expect(numbers$).toBeObservable(hot('--d', { d: [3, 4] }));
+    expect(evaluated).toBe(true);
+  });
+});
diff --git a/modules/effects/src/lazy_with_latest_from.ts b/modules/effects/src/lazy_with_latest_from.ts
new file mode 100644
index 0000000000..c8cb48ed72
--- /dev/null
+++ b/modules/effects/src/lazy_with_latest_from.ts
@@ -0,0 +1,34 @@
+import { Observable, of, OperatorFunction } from 'rxjs';
+import { concatMap, withLatestFrom } from 'rxjs/operators';
+
+/**
+ * @description
+ * RxJS operator that lazily evaluates a list of Observables.
+ *
+ * @param observables A function which returns an `Observable[]`.
+ * @returns Returns an `OperatorFunction` with ??? (idk how to describe this)
+ *
+ * @usageNotes
+ *
+ * ** Use to mitigate performance impact of `store.select` **
+ * ```ts
+ * effectName$ = createEffect(
+ *   () => this.actions$.pipe(
+ *     ofType(FeatureActions.actionOne),
+ *     // The call to this.store.select will not be performed
+ *     // until actionOne is received
+ *     lazyWithLatestFrom(() => [this.store.select(getDataState)]),
+ *     filter(([action, data]) => data.enabled),
+ *     map(() => FeatureActions.actionTwo())
+ *   )
+ * );
+ * ```
+ */
+export const lazyWithLatestFrom = <T extends Observable<unknown>[], V>(
+  observables: () => [...T]
+) =>
+  concatMap((value) =>
+    of(value).pipe(withLatestFrom(...observables()))
+  ) as OperatorFunction<V, [V, ...{ [i in keyof T]: TypeOfObservable<T[i]> }]>;
+
+type TypeOfObservable<T> = T extends Observable<infer U> ? U : never;