diff --git a/src/types.ts b/src/types.ts
index 882724d9..6cc79e06 100644
--- a/src/types.ts
+++ b/src/types.ts
@@ -20,7 +20,7 @@ export interface UmzugOptions<Ctx extends {} = Record<string, unknown>> {
 	/** The storage implementation. By default, `JSONStorage` will be used */
 	storage?: UmzugStorage<Ctx>;
 	/** An optional context object, which will be passed to each migration function, if defined */
-	context?: Ctx | (() => Ctx);
+	context?: Ctx | (() => Promise<Ctx> | Ctx);
 	/** Options for file creation */
 	create?: {
 		/**
diff --git a/src/umzug.ts b/src/umzug.ts
index ceca8f6a..bd6b500c 100644
--- a/src/umzug.ts
+++ b/src/umzug.ts
@@ -228,10 +228,7 @@ export class Umzug<Ctx extends object = object> extends emittery<UmzugEvents<Ctx
 	}
 
 	protected async runCommand<T>(command: string, cb: (commandParams: { context: Ctx }) => Promise<T>): Promise<T> {
-		const context: Ctx =
-			typeof this.options.context === 'function'
-				? (this.options.context as () => Ctx)()
-				: ((this.options.context ?? {}) as Ctx);
+		const context = await this.getContext();
 
 		await this.emit('beforeCommand', { command, context });
 		try {
@@ -483,6 +480,11 @@ export class Umzug<Ctx extends object = object> extends emittery<UmzugEvents<Ctx
 		});
 	}
 
+	private async getContext(): Promise<Ctx> {
+		const { context = {} } = this.options;
+		return typeof context === 'function' ? context() : context;
+	}
+
 	/** helper for parsing input migrations into a callback returning a list of ready-to-run migrations */
 	private getMigrationsResolver(
 		inputMigrations: InputMigrations<Ctx>
diff --git a/test/umzug.test.ts b/test/umzug.test.ts
index 76a4bfc9..1be01b72 100644
--- a/test/umzug.test.ts
+++ b/test/umzug.test.ts
@@ -91,6 +91,45 @@ describe('custom context', () => {
 
 		expect(spy).toHaveBeenCalledTimes(1);
 	});
+
+	describe(`resolve asynchronous context getter before the migrations run`, () => {
+		const sleep = async (ms: number) => new Promise(resolve => setTimeout(resolve, ms));
+		const getContext = async () => {
+			// It guarantees the initialization scripts or asynchronous stuff finished their work
+			// before the actual migrations workflow begins.
+			// Eg: const externalData = await retrieveExternalData();
+			await sleep(100);
+			return { innerValue: 'text' };
+		};
+
+		test(`context specified as a function`, async () => {
+			const spy = jest.fn();
+
+			const umzug = new Umzug({
+				migrations: [{ name: 'm2', up: spy }],
+				context: getContext,
+				logger: undefined,
+			});
+
+			await umzug.up();
+
+			expect(spy.mock.calls).toMatchObject([[{ context: { innerValue: 'text' } }]]);
+		});
+
+		test(`context specified as a function call`, async () => {
+			const spy = jest.fn();
+
+			const umzug = new Umzug({
+				migrations: [{ name: 'm3', up: spy }],
+				context: getContext(),
+				logger: undefined,
+			});
+
+			await umzug.up();
+
+			expect(spy.mock.calls).toMatchObject([[{ context: { innerValue: 'text' } }]]);
+		});
+	});
 });
 
 describe('alternate migration inputs', () => {