diff --git a/CONFIG.md b/CONFIG.md
index 391f86a6..0e842de4 100644
--- a/CONFIG.md
+++ b/CONFIG.md
@@ -99,6 +99,11 @@ android:
   # Parameters for exporting images
   images:
     # Image file format: svg or png
-    format: png
-
+    format: webp
+    # Format options for webp format only
+    webpOptions:
+      # Encoding type: lossy or lossless
+      encoding: lossy
+      # Encoding quality in percents. Only for lossy encoding.
+      quality: 90
 ```
diff --git a/Examples/AndroidExample/.idea/vcs.xml b/Examples/AndroidExample/.idea/vcs.xml
index 6c0b8635..b2bdec2d 100644
--- a/Examples/AndroidExample/.idea/vcs.xml
+++ b/Examples/AndroidExample/.idea/vcs.xml
@@ -1,6 +1,6 @@
 <?xml version="1.0" encoding="UTF-8"?>
 <project version="4">
   <component name="VcsDirectoryMappings">
-    <mapping directory="$PROJECT_DIR$/.." vcs="Git" />
+    <mapping directory="$PROJECT_DIR$/../.." vcs="Git" />
   </component>
 </project>
\ No newline at end of file
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deleted file mode 100644
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diff --git a/Examples/AndroidExample/figma-export.yaml b/Examples/AndroidExample/figma-export.yaml
index 3db72d49..b59ac835 100644
--- a/Examples/AndroidExample/figma-export.yaml
+++ b/Examples/AndroidExample/figma-export.yaml
@@ -6,4 +6,11 @@ figma:
 android:
   mainRes: ./app/src/main/res
   images:
-    format: png
+    # Image file format: svg, png or webp
+    format: webp
+    # Format options for webp format only
+    webpOptions:
+      # Encoding type: lossy or lossless
+      encoding: lossy
+      # Encoding quality in percents. Only for lossy encoding.
+      quality: 85
diff --git a/README.md b/README.md
index 78e1d5a8..7240548c 100644
--- a/README.md
+++ b/README.md
@@ -196,7 +196,7 @@ Colors will be exported to `values/colors.xml` and `values-night/colors.xml` fil
 Icons will be exported to `drawable` directory as vector xml files.
 
 Vector images will be exported to `drawable` and `drawable-night` directories as vector `xml` files.
-Raster images will be exported to `drawable-???dpi` and `drawable-night-???dpi` directories as `png` files.
+Raster images will be exported to `drawable-???dpi` and `drawable-night-???dpi` directories as `png` or `webp` files.
 
 ## Installation
 
@@ -215,6 +215,8 @@ Raster images will be exported to `drawable-???dpi` and `drawable-night-???dpi`
 ```
 brew install RedMadRobot/formulae/figma-export
 ```
+If you want to export raster images in WebP format install [cwebp](https://developers.google.com/speed/webp/docs/using) command line utility.
+brew install webp
 
 ### CocoaPods + Fastlane
 Add the following line to your Podfile:
@@ -255,7 +257,7 @@ Run `fastlane sync_colors` to run FigmaExport.
 
    `./figma-export images -i figma-export.yaml`
 
-   To export typography use `typography` argument:
+   To export typography (iOS only) use `typography` argument:
 
    `./figma-export typography -i figma-export.yaml`
 
diff --git a/Sources/FigmaExport/Input/Params.swift b/Sources/FigmaExport/Input/Params.swift
index 0ef597a1..9ee6fb4b 100644
--- a/Sources/FigmaExport/Input/Params.swift
+++ b/Sources/FigmaExport/Input/Params.swift
@@ -86,8 +86,18 @@ struct Params: Decodable {
             enum Format: String, Decodable {
                 case svg
                 case png
+                case webp
+            }
+            struct FormatOptions: Decodable {
+                enum Encoding: String, Decodable {
+                    case lossy
+                    case lossless
+                }
+                let encoding: Encoding
+                let quality: Int?
             }
             let format: Format
+            let webpOptions: FormatOptions?
         }
         let mainRes: URL
         let images: Images
diff --git a/Sources/FigmaExport/Loaders/ImagesLoader.swift b/Sources/FigmaExport/Loaders/ImagesLoader.swift
index d999f260..4b2fa284 100644
--- a/Sources/FigmaExport/Loaders/ImagesLoader.swift
+++ b/Sources/FigmaExport/Loaders/ImagesLoader.swift
@@ -35,7 +35,8 @@ final class ImagesLoader {
     }
 
     func loadImages(filter: String? = nil) throws -> (light: [ImagePack], dark: [ImagePack]?) {
-        if (platform == .android && params.android?.images.format == .png) || platform == .ios {
+        switch (platform, params.android?.images.format) {
+        case (.android, .png), (.android, .webp), (.ios, .none):
             let lightImages = try loadPNGImages(
                 fileId: params.figma.lightFileId,
                 frameName: .illustrations,
@@ -52,7 +53,7 @@ final class ImagesLoader {
                 lightImages,
                 darkImages
             )
-        } else {
+        default:
             let light = try _loadImages(
                 fileId: params.figma.lightFileId,
                 frameName: .illustrations,
diff --git a/Sources/FigmaExport/Output/WebpConverter.swift b/Sources/FigmaExport/Output/WebpConverter.swift
new file mode 100644
index 00000000..98f3454f
--- /dev/null
+++ b/Sources/FigmaExport/Output/WebpConverter.swift
@@ -0,0 +1,32 @@
+import Foundation
+import FigmaExportCore
+
+/// PNG to WebP converter
+final class WebpConverter {
+    
+    enum Encoding {
+        case lossy(quality: Int)
+        case lossless
+    }
+    
+    private let encoding: Encoding
+    
+    init(encoding: Encoding) {
+        self.encoding = encoding
+    }
+    
+    /// Converts PNG files to WebP
+    func convert(file url: URL) throws {
+        let outputURL = url.deletingPathExtension().appendingPathExtension("webp")
+        
+        let task = Process()
+        task.executableURL = URL(fileURLWithPath: "/usr/local/bin/cwebp")
+        if case Encoding.lossless = encoding {
+            task.arguments = ["-lossless", url.path, "-o", outputURL.path, "-short"]
+        } else if case Encoding.lossy(let quality) = encoding {
+            task.arguments = ["-q", String(quality), url.path, "-o", outputURL.path, "-short"]
+        }
+        try task.run()
+        task.waitUntilExit()
+    }
+}
diff --git a/Sources/FigmaExport/Subcommands/ExportIcons.swift b/Sources/FigmaExport/Subcommands/ExportIcons.swift
index d3b53301..b6123086 100644
--- a/Sources/FigmaExport/Subcommands/ExportIcons.swift
+++ b/Sources/FigmaExport/Subcommands/ExportIcons.swift
@@ -128,7 +128,7 @@ extension FigmaExportCommand {
             
             // 5. Convert all SVG to XML files
             logger.info("Converting SVGs to XMLs...")
-            try fileConverter.convert(inputDirectoryPath: tempDirectoryURL.path)
+            try svgFileConverter.convert(inputDirectoryPath: tempDirectoryURL.path)
             
             // Create output directory main/res/drawable/
             let outputDirectory = URL(fileURLWithPath: android.mainRes.path)
diff --git a/Sources/FigmaExport/Subcommands/ExportImages.swift b/Sources/FigmaExport/Subcommands/ExportImages.swift
index 650c42e0..70efa4e2 100644
--- a/Sources/FigmaExport/Subcommands/ExportImages.swift
+++ b/Sources/FigmaExport/Subcommands/ExportImages.swift
@@ -107,10 +107,11 @@ extension FigmaExportCommand {
             )
             let images = try processor.process(light: imagesTuple.light, dark: imagesTuple.dark).get()
             
-            if android.images.format == .svg {
+            switch android.images.format {
+            case .svg:
                 try exportAndroidSVGImages(images: images, params: params, logger: logger)
-            } else if android.images.format == .png {
-                try exportAndroidPNGImages(images: images, params: params, logger: logger)
+            case .png, .webp:
+                try exportAndroidRasterImages(images: images, params: params, logger: logger)
             }
             
             logger.info("Done!")
@@ -147,10 +148,10 @@ extension FigmaExportCommand {
             
             // Convert all SVG to XML files
             logger.info("Converting SVGs to XMLs...")
-            try fileConverter.convert(inputDirectoryPath: tempDirectoryLightURL.path)
+            try svgFileConverter.convert(inputDirectoryPath: tempDirectoryLightURL.path)
             if images.first?.dark != nil {
                 logger.info("Converting dark SVGs to XMLs...")
-                try fileConverter.convert(inputDirectoryPath: tempDirectoryDarkURL.path)
+                try svgFileConverter.convert(inputDirectoryPath: tempDirectoryDarkURL.path)
             }
 
             logger.info("Writting files to Android Studio project...")
@@ -185,7 +186,7 @@ extension FigmaExportCommand {
             try FileManager.default.removeItem(at: tempDirectoryDarkURL)
         }
         
-        private func exportAndroidPNGImages(images: [AssetPair<ImagesProcessor.AssetType>], params: Params, logger: Logger) throws {
+        private func exportAndroidRasterImages(images: [AssetPair<ImagesProcessor.AssetType>], params: Params, logger: Logger) throws {
             guard let android = params.android else { return }
 
             // Create empty temp directory
@@ -207,10 +208,28 @@ extension FigmaExportCommand {
 
             // Move downloaded files to new empty temp directory
             try fileWritter.write(files: localFiles)
+            
+            // Convert to WebP
+            if android.images.format == .webp, let options = android.images.webpOptions {
+                logger.info("Converting PNG files to WebP...")
+                let converter: WebpConverter
+                switch (options.encoding, options.quality) {
+                case (.lossless, _):
+                    converter = WebpConverter(encoding: .lossless)
+                case (.lossy, let quality?):
+                    converter = WebpConverter(encoding: .lossy(quality: quality))
+                case (.lossy, .none):
+                    fatalError("Encoding quality not specified. Set android.images.webpOptions.quality in YAML file.")
+                }
+                localFiles = try localFiles.map { file in
+                    try converter.convert(file: file.destination.url)
+                    return file.changingExtension(newExtension: "webp")
+                }
+            }
 
             logger.info("Writting files to Android Studio project...")
             
-            // Move PNG files to main/res/drawable-XXXdpi/
+            // Move PNG/WebP files to main/res/drawable-XXXdpi/
             localFiles = localFiles.map { fileContents -> FileContents in
                 let directoryName = Drawable.scaleToDrawableName(fileContents.scale, dark: fileContents.dark)
                 let directory = URL(fileURLWithPath: android.mainRes.path).appendingPathComponent(directoryName, isDirectory: true)
diff --git a/Sources/FigmaExport/main.swift b/Sources/FigmaExport/main.swift
index a959ceb2..d09a91aa 100644
--- a/Sources/FigmaExport/main.swift
+++ b/Sources/FigmaExport/main.swift
@@ -24,7 +24,7 @@ enum FigmaExportError: LocalizedError {
 
 struct FigmaExportCommand: ParsableCommand {
     
-    static let fileConverter = VectorDrawableConverter()
+    static let svgFileConverter = VectorDrawableConverter()
     static let fileWritter = FileWritter()
     static let fileDownloader = FileDownloader()
     
diff --git a/Sources/FigmaExportCore/FileContents.swift b/Sources/FigmaExportCore/FileContents.swift
index 815a316f..a1952015 100644
--- a/Sources/FigmaExportCore/FileContents.swift
+++ b/Sources/FigmaExportCore/FileContents.swift
@@ -55,4 +55,28 @@ public struct FileContents: Equatable {
         self.dataFile = dataFile
         self.sourceURL = nil
     }
+    
+    /// Make a copy of the FileContents with different file extension
+    /// - Parameter newExtension: New file extension
+    public func changingExtension(newExtension: String) -> FileContents {
+        var newFile: FileContents
+        
+        let newFileURL = self.destination.file.deletingPathExtension().appendingPathExtension(newExtension)
+        let newDestination = Destination(directory: self.destination.directory, file: newFileURL)
+        
+        if let sourceURL = sourceURL { // Remote file
+            newFile = FileContents(destination: newDestination, sourceURL: sourceURL)
+        } else if let dataFile = dataFile { // On-disk file
+            newFile = FileContents(destination: newDestination, dataFile: dataFile)
+        } else if let data = data { // In-memory file
+            newFile = FileContents(destination: newDestination, data: data)
+        } else {
+            fatalError("Unable to change file extension.")
+        }
+        
+        newFile.scale = self.scale
+        newFile.dark = self.dark
+        
+        return newFile
+    }
 }