diff --git a/doc/source/whatsnew/v0.16.1.txt b/doc/source/whatsnew/v0.16.1.txt
index a39ef71f57f15..eddaaf46893fa 100644
--- a/doc/source/whatsnew/v0.16.1.txt
+++ b/doc/source/whatsnew/v0.16.1.txt
@@ -49,6 +49,7 @@ Enhancements
 
 - Allow conversion of values with dtype ``datetime64`` or ``timedelta64`` to strings using ``astype(str)`` (:issue:`9757`)
 - ``get_dummies`` function now accepts ``sparse`` keyword.  If set to ``True``, the return ``DataFrame`` is sparse, e.g. ``SparseDataFrame``. (:issue:`8823`)
+- ``Period`` now accepts ``datetime64`` as value input. (:issue:`9054`)
 
 - Allow timedelta string conversion when leading zero is missing from time definition, ie `0:00:00` vs `00:00:00`. (:issue:`9570`)
 
diff --git a/pandas/src/period.pyx b/pandas/src/period.pyx
index cc6ad3defe4f3..b4a4930e09d68 100644
--- a/pandas/src/period.pyx
+++ b/pandas/src/period.pyx
@@ -710,6 +710,10 @@ cdef class Period(object):
             dt = value
             if freq is None:
                 raise ValueError('Must supply freq for datetime value')
+        elif isinstance(value, np.datetime64):
+            dt = Timestamp(value)
+            if freq is None:
+                raise ValueError('Must supply freq for datetime value')
         elif isinstance(value, date):
             dt = datetime(year=value.year, month=value.month, day=value.day)
             if freq is None:
diff --git a/pandas/tseries/tests/test_period.py b/pandas/tseries/tests/test_period.py
index 17edcd7504102..23785598783ea 100644
--- a/pandas/tseries/tests/test_period.py
+++ b/pandas/tseries/tests/test_period.py
@@ -226,16 +226,29 @@ def test_period_constructor(self):
 
         i1 = Period(date(2007, 1, 1), freq='M')
         i2 = Period(datetime(2007, 1, 1), freq='M')
+        i3 = Period(np.datetime64('2007-01-01'), freq='M')
+        i4 = Period(np.datetime64('2007-01-01 00:00:00Z'), freq='M')
+        i5 = Period(np.datetime64('2007-01-01 00:00:00.000Z'), freq='M')
         self.assertEqual(i1, i2)
+        self.assertEqual(i1, i3)
+        self.assertEqual(i1, i4)
+        self.assertEqual(i1, i5)
 
         i1 = Period('2007-01-01 09:00:00.001')
         expected = Period(datetime(2007, 1, 1, 9, 0, 0, 1000), freq='L')
         self.assertEqual(i1, expected)
 
+        expected = Period(np.datetime64('2007-01-01 09:00:00.001Z'), freq='L')
+        self.assertEqual(i1, expected)
+
         i1 = Period('2007-01-01 09:00:00.00101')
         expected = Period(datetime(2007, 1, 1, 9, 0, 0, 1010), freq='U')
         self.assertEqual(i1, expected)
 
+        expected = Period(np.datetime64('2007-01-01 09:00:00.00101Z'),
+                          freq='U')
+        self.assertEqual(i1, expected)
+
         self.assertRaises(ValueError, Period, ordinal=200701)
 
         self.assertRaises(ValueError, Period, '2007-1-1', freq='X')
@@ -434,7 +447,7 @@ def test_properties_weekly(self):
         assert_equal((w_date - 1).week, 52)
         assert_equal(w_date.days_in_month, 31)
         assert_equal(Period(freq='WK', year=2012, month=2, day=1).days_in_month, 29)
-        
+
     def test_properties_daily(self):
         # Test properties on Periods with daily frequency.
         b_date = Period(freq='B', year=2007, month=1, day=1)