diff --git a/src/storm-parsers/parser/FormulaParserGrammar.cpp b/src/storm-parsers/parser/FormulaParserGrammar.cpp
index ceca76e8e..6f565fc20 100644
--- a/src/storm-parsers/parser/FormulaParserGrammar.cpp
+++ b/src/storm-parsers/parser/FormulaParserGrammar.cpp
@@ -123,13 +123,18 @@ namespace storm {
             
             multiFormula = (qi::lit("multi") > qi::lit("(") >> ((pathFormula(storm::logic::FormulaContext::Probability) | stateFormula) % qi::lit(",")) >> qi::lit(")"))[qi::_val = phoenix::bind(&FormulaParserGrammar::createMultiFormula, phoenix::ref(*this), qi::_1)];
             multiFormula.name("Multi formula");
-            
-            stateFormula = (orStateFormula | multiFormula);
-            stateFormula.name("state formula");
-            
+
             identifier %= qi::as_string[qi::raw[qi::lexeme[((qi::alpha | qi::char_('_') | qi::char_('.')) >> *(qi::alnum | qi::char_('_')))]]];
             identifier.name("identifier");
             
+            quantileBoundVariable = ((qi::lit("min")[qi::_a = storm::solver::OptimizationDirection::Minimize] | qi::lit("max")[qi::_a = storm::solver::OptimizationDirection::Maximize]) >> identifier)[qi::_val = phoenix::bind(&FormulaParserGrammar::createQuantileBoundVariables, phoenix::ref(*this), qi::_a,  qi::_1)];
+            quantileBoundVariable.name("Quantile bound variable");
+            quantileFormula = (qi::lit("quantile") > qi::lit("(") >> (quantileBoundVariable % qi::lit(",")) >> qi::lit(",") >> stateFormula > qi::lit(")"))[qi::_val = phoenix::bind(&FormulaParserGrammar::createQuantileFormula, phoenix::ref(*this), qi::_1, qi::_2)];
+            quantileFormula.name("Quantile formula");
+            
+            stateFormula = (orStateFormula | multiFormula | quantileFormula);
+            stateFormula.name("state formula");
+            
             formulaName = qi::lit("\"") >> identifier >> qi::lit("\"") >> qi::lit(":");
             formulaName.name("formula name");
             
@@ -419,6 +424,20 @@ namespace storm {
             }
         }
         
+        std::pair<storm::solver::OptimizationDirection, storm::expressions::Variable> FormulaParserGrammar::createQuantileBoundVariables(storm::solver::OptimizationDirection const& dir, std::string const& variableName) {
+            STORM_LOG_ASSERT(manager, "Mutable expression manager required to define quantile bound variable.");
+            STORM_LOG_THROW(!manager->hasVariable(variableName), storm::exceptions::WrongFormatException, "Invalid quantile variable name '" << variableName << "' in property: variable already exists.");
+            
+            storm::expressions::Variable var = manager->declareRationalVariable(variableName);
+            addIdentifierExpression(variableName, var);
+            std::pair<storm::solver::OptimizationDirection, storm::expressions::Variable> result(dir, var);
+            return result;
+        }
+
+        std::shared_ptr<storm::logic::Formula const> FormulaParserGrammar::createQuantileFormula(std::vector<std::pair<storm::solver::OptimizationDirection, storm::expressions::Variable>> const& boundVariables, std::shared_ptr<storm::logic::Formula const> const& subformula) {
+            return std::shared_ptr<storm::logic::Formula const>(new storm::logic::QuantileFormula(boundVariables, subformula));
+        }
+        
         std::set<storm::expressions::Variable> FormulaParserGrammar::getUndefinedConstants(std::shared_ptr<storm::logic::Formula const> const& formula) const {
             std::set<storm::expressions::Variable> result;
             std::set<storm::expressions::Variable> usedVariables = formula->getUsedVariables();
diff --git a/src/storm-parsers/parser/FormulaParserGrammar.h b/src/storm-parsers/parser/FormulaParserGrammar.h
index 75012aaf4..e582abe40 100644
--- a/src/storm-parsers/parser/FormulaParserGrammar.h
+++ b/src/storm-parsers/parser/FormulaParserGrammar.h
@@ -50,7 +50,8 @@ namespace storm {
                     ("F", 5)
                     ("G", 6)
                     ("X", 7)
-                    ("multi", 8);
+                    ("multi", 8)
+                    ("quantile", 9);
                 }
             };
             
@@ -196,6 +197,8 @@ namespace storm {
             qi::rule<Iterator, std::shared_ptr<storm::logic::Formula const>(), Skipper> longRunAverageRewardFormula;
             
             qi::rule<Iterator, std::shared_ptr<storm::logic::Formula const>(), Skipper> multiFormula;
+            qi::rule<Iterator, std::pair<storm::solver::OptimizationDirection, storm::expressions::Variable>(), qi::locals<storm::solver::OptimizationDirection>, Skipper> quantileBoundVariable;
+            qi::rule<Iterator, std::shared_ptr<storm::logic::Formula const>(), Skipper> quantileFormula;
             
             // Parser that is used to recognize doubles only (as opposed to Spirit's double_ parser).
             boost::spirit::qi::real_parser<double, boost::spirit::qi::strict_real_policies<double>> strict_double;
@@ -229,6 +232,8 @@ namespace storm {
             std::shared_ptr<storm::logic::Formula const> createBinaryBooleanStateFormula(std::shared_ptr<storm::logic::Formula const> const& leftSubformula, std::shared_ptr<storm::logic::Formula const> const& rightSubformula, storm::logic::BinaryBooleanStateFormula::OperatorType operatorType);
             std::shared_ptr<storm::logic::Formula const> createUnaryBooleanStateFormula(std::shared_ptr<storm::logic::Formula const> const& subformula, boost::optional<storm::logic::UnaryBooleanStateFormula::OperatorType> const& operatorType);
             std::shared_ptr<storm::logic::Formula const> createMultiFormula(std::vector<std::shared_ptr<storm::logic::Formula const>> const& subformulas);
+            std::pair<storm::solver::OptimizationDirection, storm::expressions::Variable> createQuantileBoundVariables(storm::solver::OptimizationDirection const& dir, std::string const& variableName);
+            std::shared_ptr<storm::logic::Formula const> createQuantileFormula(std::vector<std::pair<storm::solver::OptimizationDirection, storm::expressions::Variable>> const& boundVariables, std::shared_ptr<storm::logic::Formula const> const& subformula);
             
             std::set<storm::expressions::Variable> getUndefinedConstants(std::shared_ptr<storm::logic::Formula const> const& formula) const;
             storm::jani::Property createProperty(boost::optional<std::string> const& propertyName, storm::modelchecker::FilterType const& filterType, std::shared_ptr<storm::logic::Formula const> const& formula, std::shared_ptr<storm::logic::Formula const> const& states);