diff --git a/CHANGELOG.md b/CHANGELOG.md
index e4aac0f19..89fc629a3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,11 +1,15 @@
 ## Unreleased
 
-## Version 4.7.3
+## Version 4.8.0
 
 * Add integration instructions for drf-yasg ([#145](https://github.com/jazzband/djangorestframework-simplejwt/pull/145))
 * Verify Serializer Should Honour Blacklist ([#239](https://github.com/jazzband/djangorestframework-simplejwt/pull/239))
 * Added missing import in getting_started docs ([#431](https://github.com/jazzband/djangorestframework-simplejwt/pull/431))
 * Use import_string for token_backend ([#435](https://github.com/jazzband/djangorestframework-simplejwt/pull/435))
+* Add JWKS support ([#437](https://github.com/jazzband/djangorestframework-simplejwt/pull/435))
+* Use pathlib instead of open in setup.py ([#339](https://github.com/jazzband/djangorestframework-simplejwt/pull/339))
+* Optimize default_user_authentication_rule ([#441](https://github.com/jazzband/djangorestframework-simplejwt/pull/441))
+* Add Leeway option to decode ([#445](https://github.com/jazzband/djangorestframework-simplejwt/pull/445))
 
 ## Version 4.7.2
 
diff --git a/docs/settings.rst b/docs/settings.rst
index 5641a02a4..ea407f0c6 100644
--- a/docs/settings.rst
+++ b/docs/settings.rst
@@ -27,6 +27,7 @@ Some of Simple JWT's behavior can be customized through settings variables in
       'AUDIENCE': None,
       'ISSUER': None,
       'JWK_URL': None,
+      'LEEWAY': 0,
 
       'AUTH_HEADER_TYPES': ('Bearer',),
       'AUTH_HEADER_NAME': 'HTTP_AUTHORIZATION',
@@ -156,6 +157,15 @@ signing of tokens. When using Auth0 for example you might set this to
 this field is excluded from the token backend and is not used during
 validation.
 
+``LEEWAY``
+----------
+
+Leeway is used to give some margin to the expiration time. This can be an
+integer for seconds or a ``datetime.timedelta``. Please reference
+https://pyjwt.readthedocs.io/en/latest/usage.html#expiration-time-claim-exp
+for more information.
+
+
 ``AUTH_HEADER_TYPES``
 ---------------------
 
diff --git a/rest_framework_simplejwt/backends.py b/rest_framework_simplejwt/backends.py
index b3048b2f8..d4844471f 100644
--- a/rest_framework_simplejwt/backends.py
+++ b/rest_framework_simplejwt/backends.py
@@ -24,6 +24,7 @@ def __init__(
         audience=None,
         issuer=None,
         jwk_url: str = None,
+        leeway=0,
     ):
         self._validate_algorithm(algorithm)
 
@@ -33,6 +34,7 @@ def __init__(
         self.issuer = issuer
 
         self.jwks_client = PyJWKClient(jwk_url) if jwk_url else None
+        self.leeway = leeway
 
         if algorithm.startswith("HS"):
             self.verifying_key = signing_key
@@ -92,6 +94,7 @@ def decode(self, token, verify=True):
                 verify=verify,
                 audience=self.audience,
                 issuer=self.issuer,
+                leeway=self.leeway,
                 options={
                     'verify_aud': self.audience is not None,
                     'verify_signature': verify,
diff --git a/rest_framework_simplejwt/settings.py b/rest_framework_simplejwt/settings.py
index 39459b44f..9cd790599 100644
--- a/rest_framework_simplejwt/settings.py
+++ b/rest_framework_simplejwt/settings.py
@@ -22,6 +22,7 @@
     'AUDIENCE': None,
     'ISSUER': None,
     'JWK_URL': None,
+    'LEEWAY': 0,
 
     'AUTH_HEADER_TYPES': ('Bearer',),
     'AUTH_HEADER_NAME': 'HTTP_AUTHORIZATION',
diff --git a/rest_framework_simplejwt/state.py b/rest_framework_simplejwt/state.py
index a901adf15..4fe94faef 100644
--- a/rest_framework_simplejwt/state.py
+++ b/rest_framework_simplejwt/state.py
@@ -8,4 +8,5 @@
     api_settings.AUDIENCE,
     api_settings.ISSUER,
     api_settings.JWK_URL,
+    api_settings.LEEWAY,
 )
diff --git a/tests/test_backends.py b/tests/test_backends.py
index bca2780e8..3d204718a 100644
--- a/tests/test_backends.py
+++ b/tests/test_backends.py
@@ -21,10 +21,12 @@
 
 JWK_URL = 'https://randomstring.auth0.com/.well-known/jwks.json'
 
+LEEWAY = 100
 
 class TestTokenBackend(TestCase):
     def setUp(self):
         self.hmac_token_backend = TokenBackend('HS256', SECRET)
+        self.hmac_leeway_token_backend = TokenBackend('HS256', SECRET, leeway=LEEWAY)
         self.rsa_token_backend = TokenBackend('RS256', PRIVATE_KEY, PUBLIC_KEY)
         self.aud_iss_token_backend = TokenBackend('RS256', PRIVATE_KEY, PUBLIC_KEY, AUDIENCE, ISSUER)
         self.payload = {'foo': 'bar'}
@@ -283,3 +285,21 @@ def test_decode_when_token_algorithm_does_not_match(self):
 
         with self.assertRaisesRegex(TokenBackendError, 'Invalid algorithm specified'):
             self.hmac_token_backend.decode(token)
+
+    def test_decode_leeway_hmac_fail(self):
+        self.payload["exp"] = datetime_to_epoch(aware_utcnow() - timedelta(seconds=LEEWAY * 2))
+
+        expired_token = jwt.encode(self.payload, SECRET, algorithm='HS256')
+
+        with self.assertRaises(TokenBackendError):
+            self.hmac_leeway_token_backend.decode(expired_token)
+
+    def test_decode_leeway_hmac_success(self):
+        self.payload["exp"] = datetime_to_epoch(aware_utcnow() - timedelta(seconds=LEEWAY / 2))
+
+        expired_token = jwt.encode(self.payload, SECRET, algorithm='HS256')
+
+        self.assertEqual(
+            self.hmac_leeway_token_backend.decode(expired_token),
+            self.payload,
+        )