diff --git a/pcsx2/gui/Debugger/CtrlDisassemblyView.cpp b/pcsx2/gui/Debugger/CtrlDisassemblyView.cpp
index 598af0ecd1..b024dff533 100644
--- a/pcsx2/gui/Debugger/CtrlDisassemblyView.cpp
+++ b/pcsx2/gui/Debugger/CtrlDisassemblyView.cpp
@@ -889,11 +889,17 @@ void CtrlDisassemblyView::keydownEvent(wxKeyEvent& evt)
 			}
 			scanFunctions();
 			break;
+		case WXK_F8:
+			postEvent(debEVT_STEPOUT,0);
+			break;
 		case WXK_F10:
 			postEvent(debEVT_STEPOVER,0);
 			return;
 		case WXK_F11:
-			postEvent(debEVT_STEPINTO,0);
+			if (evt.ShiftDown())
+				postEvent(debEVT_STEPOUT,0);
+			else
+				postEvent(debEVT_STEPINTO,0);
 			return;
 		default:
 			evt.Skip();
diff --git a/pcsx2/gui/Debugger/DebugEvents.cpp b/pcsx2/gui/Debugger/DebugEvents.cpp
index 8688f8f0f1..eabb3c0e3f 100644
--- a/pcsx2/gui/Debugger/DebugEvents.cpp
+++ b/pcsx2/gui/Debugger/DebugEvents.cpp
@@ -24,6 +24,7 @@ DEFINE_LOCAL_EVENT_TYPE( debEVT_RUNTOPOS )
 DEFINE_LOCAL_EVENT_TYPE( debEVT_MAPLOADED )
 DEFINE_LOCAL_EVENT_TYPE( debEVT_STEPOVER )
 DEFINE_LOCAL_EVENT_TYPE( debEVT_STEPINTO )
+DEFINE_LOCAL_EVENT_TYPE( debEVT_STEPOUT )
 DEFINE_LOCAL_EVENT_TYPE( debEVT_UPDATE )
 DEFINE_LOCAL_EVENT_TYPE( debEVT_BREAKPOINTWINDOW )
 
diff --git a/pcsx2/gui/Debugger/DebugEvents.h b/pcsx2/gui/Debugger/DebugEvents.h
index 15cd6ab583..876836c519 100644
--- a/pcsx2/gui/Debugger/DebugEvents.h
+++ b/pcsx2/gui/Debugger/DebugEvents.h
@@ -25,6 +25,7 @@ DECLARE_LOCAL_EVENT_TYPE( debEVT_RUNTOPOS, wxNewEventType() )
 DECLARE_LOCAL_EVENT_TYPE( debEVT_MAPLOADED, wxNewEventType() )
 DECLARE_LOCAL_EVENT_TYPE( debEVT_STEPOVER, wxNewEventType() )
 DECLARE_LOCAL_EVENT_TYPE( debEVT_STEPINTO, wxNewEventType() )
+DECLARE_LOCAL_EVENT_TYPE( debEVT_STEPOUT, wxNewEventType() )
 DECLARE_LOCAL_EVENT_TYPE( debEVT_UPDATE, wxNewEventType() )
 DECLARE_LOCAL_EVENT_TYPE( debEVT_BREAKPOINTWINDOW, wxNewEventType() )
 
diff --git a/pcsx2/gui/Debugger/DisassemblyDialog.cpp b/pcsx2/gui/Debugger/DisassemblyDialog.cpp
index 9317947c8d..1f642918e2 100644
--- a/pcsx2/gui/Debugger/DisassemblyDialog.cpp
+++ b/pcsx2/gui/Debugger/DisassemblyDialog.cpp
@@ -35,6 +35,7 @@ BEGIN_EVENT_TABLE(DisassemblyDialog, wxFrame)
    EVT_COMMAND( wxID_ANY, debEVT_GOTOINDISASM, DisassemblyDialog::onDebuggerEvent )
    EVT_COMMAND( wxID_ANY, debEVT_STEPOVER, DisassemblyDialog::onDebuggerEvent )
    EVT_COMMAND( wxID_ANY, debEVT_STEPINTO, DisassemblyDialog::onDebuggerEvent )
+   EVT_COMMAND( wxID_ANY, debEVT_STEPOUT, DisassemblyDialog::onDebuggerEvent )
    EVT_COMMAND( wxID_ANY, debEVT_UPDATE, DisassemblyDialog::onDebuggerEvent )
    EVT_COMMAND( wxID_ANY, debEVT_BREAKPOINTWINDOW, DisassemblyDialog::onDebuggerEvent )
    EVT_COMMAND( wxID_ANY, debEVT_MAPLOADED, DisassemblyDialog::onDebuggerEvent )
@@ -196,6 +197,22 @@ void CpuTabPage::loadCycles()
 	lastCycles = cycles;
 }
 
+u32 CpuTabPage::getStepOutAddress()
+{
+	if (threadList == NULL)
+		return (u32)-1;
+
+	EEThread currentThread = threadList->getRunningThread();
+	std::vector<MipsStackWalk::StackFrame> frames =
+		MipsStackWalk::Walk(cpu,cpu->getPC(),cpu->getRegister(0,31),cpu->getRegister(0,29),
+			currentThread.data.entry_init,currentThread.data.stack);
+
+	if (frames.size() < 2)
+		return (u32)-1;
+
+	return frames[1].pc;
+}
+
 DisassemblyDialog::DisassemblyDialog(wxWindow* parent):
 	wxFrame( parent, wxID_ANY, L"Debugger", wxDefaultPosition,wxDefaultSize,wxRESIZE_BORDER|wxCLOSE_BOX|wxCAPTION|wxSYSTEM_MENU ),
 	currentCpu(NULL)
@@ -225,6 +242,7 @@ DisassemblyDialog::DisassemblyDialog(wxWindow* parent):
 	
 	stepOutButton = new wxButton( panel, wxID_ANY, L"Step Out" );
 	stepOutButton->Enable(false);
+	Connect( stepOutButton->GetId(), wxEVT_COMMAND_BUTTON_CLICKED, wxCommandEventHandler( DisassemblyDialog::onStepOutClicked ) );
 	topRowSizer->Add(stepOutButton,0,wxRIGHT,8);
 	
 	breakpointButton = new wxButton( panel, wxID_ANY, L"Breakpoint" );
@@ -307,6 +325,11 @@ void DisassemblyDialog::onStepIntoClicked(wxCommandEvent& evt)
 	stepInto();
 }
 
+void DisassemblyDialog::onStepOutClicked(wxCommandEvent& evt)
+{
+	stepOut();
+}
+
 void DisassemblyDialog::onPageChanging(wxCommandEvent& evt)
 {
 	wxNotebook* notebook = (wxNotebook*)wxWindow::FindWindowById(evt.GetId());
@@ -414,6 +437,18 @@ void DisassemblyDialog::stepInto()
 	r5900Debug.resumeCpu();
 }
 
+void DisassemblyDialog::stepOut()
+{
+	if (!r5900Debug.isAlive() || !r5900Debug.isCpuPaused() || currentCpu == NULL)
+		return;
+
+	u32 addr = currentCpu->getStepOutAddress();
+	if (addr == (u32)-1)
+		return;
+
+	CBreakPoints::AddBreakPoint(addr,true);
+	r5900Debug.resumeCpu();
+}
 
 void DisassemblyDialog::onBreakpointClick(wxCommandEvent& evt)
 {
@@ -485,6 +520,10 @@ void DisassemblyDialog::onDebuggerEvent(wxCommandEvent& evt)
 	{
 		eeTab->reloadSymbolMap();
 		iopTab->reloadSymbolMap();
+	} else if (type == debEVT_STEPOUT)
+	{
+		if (currentCpu != NULL)
+			stepOut();
 	}
 }
 
@@ -536,6 +575,7 @@ void DisassemblyDialog::setDebugMode(bool debugMode, bool switchPC)
 
 			stepOverButton->Enable(true);
 			stepIntoButton->Enable(true);
+			stepOutButton->Enable(currentCpu == eeTab);
 
 			if (switchPC || CBreakPoints::GetBreakpointTriggered())
 				gotoPc();
diff --git a/pcsx2/gui/Debugger/DisassemblyDialog.h b/pcsx2/gui/Debugger/DisassemblyDialog.h
index 94ab959160..ab2d0cb62a 100644
--- a/pcsx2/gui/Debugger/DisassemblyDialog.h
+++ b/pcsx2/gui/Debugger/DisassemblyDialog.h
@@ -43,6 +43,7 @@ public:
 	void showMemoryView() { setBottomTabPage(memory); };
 	void loadCycles();
 	void reloadSymbolMap();
+	u32 getStepOutAddress();
 
 	void listBoxHandler(wxCommandEvent& event);
 	DECLARE_EVENT_TABLE()
@@ -86,12 +87,14 @@ protected:
 	void onBreakRunClicked(wxCommandEvent& evt);
 	void onStepOverClicked(wxCommandEvent& evt);
 	void onStepIntoClicked(wxCommandEvent& evt);
+	void onStepOutClicked(wxCommandEvent& evt);
 	void onDebuggerEvent(wxCommandEvent& evt);
 	void onPageChanging(wxCommandEvent& evt);
 	void onBreakpointClick(wxCommandEvent& evt);
 	void onClose(wxCloseEvent& evt);
 	void stepOver();
 	void stepInto();
+	void stepOut();
 	void gotoPc();
 private:
 	CpuTabPage* eeTab;