diff --git a/tests/snippets/stdlib_itertools.py b/tests/snippets/stdlib_itertools.py
index 9368a8ed76..f133cfc04e 100644
--- a/tests/snippets/stdlib_itertools.py
+++ b/tests/snippets/stdlib_itertools.py
@@ -299,3 +299,25 @@ def assert_matches_seq(it, seq):
 t = itertools.tee([1,2,3])
 assert list(t[0]) == [1,2,3]
 assert list(t[0]) == []
+
+# itertools.product
+it = itertools.product([1, 2], [3, 4])
+assert (1, 3) == next(it)
+assert (1, 4) == next(it)
+assert (2, 3) == next(it)
+assert (2, 4) == next(it)
+with assert_raises(StopIteration):
+    next(it)
+
+it = itertools.product([1, 2], repeat=2)
+assert (1, 1) == next(it)
+assert (1, 2) == next(it)
+assert (2, 1) == next(it)
+assert (2, 2) == next(it)
+with assert_raises(StopIteration):
+    next(it)
+
+with assert_raises(TypeError):
+    itertools.product(None)
+with assert_raises(TypeError):
+    itertools.product([1, 2], repeat=None)
diff --git a/vm/src/stdlib/itertools.rs b/vm/src/stdlib/itertools.rs
index 195d9d58a2..7b695b98b4 100644
--- a/vm/src/stdlib/itertools.rs
+++ b/vm/src/stdlib/itertools.rs
@@ -1,15 +1,16 @@
 use std::cell::{Cell, RefCell};
 use std::cmp::Ordering;
+use std::iter;
 use std::ops::{AddAssign, SubAssign};
 use std::rc::Rc;
 
 use num_bigint::BigInt;
 use num_traits::ToPrimitive;
 
-use crate::function::{OptionalArg, PyFuncArgs};
+use crate::function::{Args, OptionalArg, PyFuncArgs};
 use crate::obj::objbool;
 use crate::obj::objint::{self, PyInt, PyIntRef};
-use crate::obj::objiter::{call_next, get_iter, new_stop_iteration};
+use crate::obj::objiter::{call_next, get_all, get_iter, new_stop_iteration};
 use crate::obj::objtuple::PyTuple;
 use crate::obj::objtype::{self, PyClassRef};
 use crate::pyobject::{
@@ -736,6 +737,123 @@ impl PyItertoolsTee {
     }
 }
 
+#[pyclass]
+#[derive(Debug)]
+struct PyIterToolsProduct {
+    pools: Vec<Vec<PyObjectRef>>,
+    idxs: RefCell<Vec<usize>>,
+    cur: Cell<usize>,
+    stop: Cell<bool>,
+}
+
+impl PyValue for PyIterToolsProduct {
+    fn class(vm: &VirtualMachine) -> PyClassRef {
+        vm.class("itertools", "product")
+    }
+}
+
+#[derive(FromArgs)]
+struct ProductArgs {
+    #[pyarg(keyword_only, optional = true)]
+    repeat: OptionalArg<usize>,
+}
+
+#[pyimpl]
+impl PyIterToolsProduct {
+    #[pyslot(new)]
+    fn tp_new(
+        cls: PyClassRef,
+        iterables: Args<PyObjectRef>,
+        args: ProductArgs,
+        vm: &VirtualMachine,
+    ) -> PyResult<PyRef<Self>> {
+        let repeat = match args.repeat.into_option() {
+            Some(i) => i,
+            None => 1,
+        };
+
+        let mut pools = Vec::new();
+        for arg in iterables.into_iter() {
+            let it = get_iter(vm, &arg)?;
+            let pool = get_all(vm, &it)?;
+
+            pools.push(pool);
+        }
+        let pools = iter::repeat(pools)
+            .take(repeat)
+            .flatten()
+            .collect::<Vec<Vec<PyObjectRef>>>();
+
+        let l = pools.len();
+
+        PyIterToolsProduct {
+            pools,
+            idxs: RefCell::new(vec![0; l]),
+            cur: Cell::new(l - 1),
+            stop: Cell::new(false),
+        }
+        .into_ref_with_type(vm, cls)
+    }
+
+    #[pymethod(name = "__next__")]
+    fn next(&self, vm: &VirtualMachine) -> PyResult {
+        // stop signal
+        if self.stop.get() {
+            return Err(new_stop_iteration(vm));
+        }
+
+        let pools = &self.pools;
+
+        for p in pools {
+            if p.is_empty() {
+                return Err(new_stop_iteration(vm));
+            }
+        }
+
+        let res = PyTuple::from(
+            pools
+                .iter()
+                .zip(self.idxs.borrow().iter())
+                .map(|(pool, idx)| pool[*idx].clone())
+                .collect::<Vec<PyObjectRef>>(),
+        );
+
+        self.update_idxs();
+
+        if self.is_end() {
+            self.stop.set(true);
+        }
+
+        Ok(res.into_ref(vm).into_object())
+    }
+
+    fn is_end(&self) -> bool {
+        (self.idxs.borrow()[self.cur.get()] == &self.pools[self.cur.get()].len() - 1
+            && self.cur.get() == 0)
+    }
+
+    fn update_idxs(&self) {
+        let lst_idx = &self.pools[self.cur.get()].len() - 1;
+
+        if self.idxs.borrow()[self.cur.get()] == lst_idx {
+            if self.is_end() {
+                return;
+            }
+            self.idxs.borrow_mut()[self.cur.get()] = 0;
+            self.cur.set(self.cur.get() - 1);
+            self.update_idxs();
+        } else {
+            self.idxs.borrow_mut()[self.cur.get()] += 1;
+            self.cur.set(self.idxs.borrow().len() - 1);
+        }
+    }
+
+    #[pymethod(name = "__iter__")]
+    fn iter(zelf: PyRef<Self>, _vm: &VirtualMachine) -> PyRef<Self> {
+        zelf
+    }
+}
+
 pub fn make_module(vm: &VirtualMachine) -> PyObjectRef {
     let ctx = &vm.ctx;
 
@@ -767,6 +885,8 @@ pub fn make_module(vm: &VirtualMachine) -> PyObjectRef {
 
     let tee = ctx.new_class("tee", ctx.object());
     PyItertoolsTee::extend_class(ctx, &tee);
+    let product = ctx.new_class("product", ctx.object());
+    PyIterToolsProduct::extend_class(ctx, &product);
 
     py_module!(vm, "itertools", {
         "chain" => chain,
@@ -780,5 +900,6 @@ pub fn make_module(vm: &VirtualMachine) -> PyObjectRef {
         "filterfalse" => filterfalse,
         "accumulate" => accumulate,
         "tee" => tee,
+        "product" => product,
     })
 }