diff --git a/sqlx-core/src/error.rs b/sqlx-core/src/error.rs
index b83bad7c..b8cc9d7f 100644
--- a/sqlx-core/src/error.rs
+++ b/sqlx-core/src/error.rs
@@ -41,6 +41,9 @@ pub enum Error {
     /// because another task encountered too many errors while trying to open a new connection.
     TimedOut,
 
+    /// `Pool::close()` was called while we were waiting in `Pool::acquire()`.
+    PoolClosed,
+
     // TODO: Remove and replace with `#[non_exhaustive]` when possible
     #[doc(hidden)]
     __Nonexhaustive,
diff --git a/sqlx-core/src/pool.rs b/sqlx-core/src/pool.rs
index 76a15347..6ef9302b 100644
--- a/sqlx-core/src/pool.rs
+++ b/sqlx-core/src/pool.rs
@@ -15,7 +15,7 @@ use std::{
     marker::PhantomData,
     ops::{Deref, DerefMut},
     sync::{
-        atomic::{AtomicU32, AtomicUsize, Ordering},
+        atomic::{AtomicU32, AtomicUsize, AtomicBool, Ordering},
         Arc,
     },
     time::{Duration, Instant},
@@ -68,7 +68,7 @@ where
     ///
     /// Does not resolve until all connections are closed.
     pub async fn close(&self) {
-        unimplemented!()
+        let _ = self.0.close().await;
     }
 
     /// Returns the number of connections currently being managed by the pool.
@@ -195,6 +195,7 @@ where
     pool_rx: Receiver<Idle<DB>>,
     pool_tx: Sender<Idle<DB>>,
     size: AtomicU32,
+    closed: AtomicBool,
     options: Options,
 }
 
@@ -212,12 +213,35 @@ where
             pool_rx,
             pool_tx,
             size: AtomicU32::new(0),
+            closed: AtomicBool::new(false),
             options,
         })
     }
 
+    async fn close(&self) {
+        self.closed.store(true, Ordering::Release);
+
+        while self.size.load(Ordering::Acquire) > 0 {
+            // don't block on the receiver because we own one Sender so it should never return
+            // `None`; a `select!()` would also work but that produces more complicated code
+            // and a timeout isn't necessarily appropriate
+            match self.pool_rx.recv().now_or_never() {
+                Some(Some(idle)) => {
+                    let _ = idle.raw.inner.close().await;
+                    self.size.fetch_sub(1, Ordering::AcqRel);
+                },
+                Some(None) => panic!("we own a Sender how did this happen"),
+                None => task::yield_now().await,
+            }
+        }
+    }
+
     #[inline]
     fn try_acquire(&self) -> Option<Live<DB>> {
+        if self.closed.load(Ordering::Acquire) {
+            return None;
+        }
+
         Some(self.pool_rx.recv().now_or_never()??.live(&self.pool_tx))
     }
 
@@ -229,7 +253,7 @@ where
             return Ok(live);
         }
 
-        loop {
+        while !self.closed.load(Ordering::Acquire) {
             let size = self.size.load(Ordering::Acquire);
 
             if size >= self.options.max_size {
@@ -248,6 +272,12 @@ where
                     Err(_) => continue,
                 };
 
+                if self.closed.load(Ordering::Acquire) {
+                    let _ = idle.raw.inner.close().await;
+                    self.size.fetch_sub(1, Ordering::AcqRel);
+                    return Err(Error::PoolClosed);
+                }
+
                 // check if idle connection was within max lifetime (or not set)
                 if self.options.max_lifetime.map_or(true, |max| idle.raw.created.elapsed() < max)
                     // and if connection wasn't idle too long (or not set)
@@ -277,10 +307,17 @@ where
                 return self.new_conn(deadline).await
             }
         }
+
+        Err(Error::PoolClosed)
     }
 
     async fn new_conn(&self, deadline: Instant) -> crate::Result<Live<DB>> {
         while Instant::now() < deadline {
+            if self.closed.load(Ordering::Acquire) {
+                self.size.fetch_sub(1, Ordering::AcqRel);
+                return Err(Error::PoolClosed);
+            }
+
             // result here is `Result<Result<DB, Error>, TimeoutError>`
             match timeout(deadline - Instant::now(), DB::open(&self.url)).await {
                 Ok(Ok(raw)) => return Ok(Live::pooled(raw, &self.pool_tx)),