diff --git a/api/v1alpha3/gcpmachine_types.go b/api/v1alpha3/gcpmachine_types.go
index 5c9194b2c..f7f52ef51 100644
--- a/api/v1alpha3/gcpmachine_types.go
+++ b/api/v1alpha3/gcpmachine_types.go
@@ -81,6 +81,10 @@ type GCPMachineSpec struct {
 	// Defaults to: email: "default", scope: []{compute.CloudPlatformScope}
 	// +optional
 	ServiceAccount *ServiceAccount `json:"serviceAccounts,omitempty"`
+
+	// Preemptible defines if instance is preemptible
+	// +optional
+	Preemptible bool `json:"preemptible,omitempty"`
 }
 
 // GCPMachineStatus defines the observed state of GCPMachine
diff --git a/cloud/services/compute/instances.go b/cloud/services/compute/instances.go
index ff3e1af4a..0f309b091 100644
--- a/cloud/services/compute/instances.go
+++ b/cloud/services/compute/instances.go
@@ -103,6 +103,9 @@ func (s *Service) CreateInstance(scope *scope.MachineScope) (*compute.Instance,
 				},
 			},
 		},
+		Scheduling: &compute.Scheduling{
+			Preemptible: scope.GCPMachine.Spec.Preemptible,
+		},
 	}
 
 	if scope.GCPMachine.Spec.ServiceAccount != nil {
diff --git a/config/crd/bases/infrastructure.cluster.x-k8s.io_gcpmachines.yaml b/config/crd/bases/infrastructure.cluster.x-k8s.io_gcpmachines.yaml
index 8b9b7079e..d92de128b 100644
--- a/config/crd/bases/infrastructure.cluster.x-k8s.io_gcpmachines.yaml
+++ b/config/crd/bases/infrastructure.cluster.x-k8s.io_gcpmachines.yaml
@@ -87,6 +87,9 @@ spec:
                 description: 'InstanceType is the type of instance to create. Example:
                   n1.standard-2'
                 type: string
+              preemptible:
+                description: Preemptible defines if instance is preemptible
+                type: boolean
               providerID:
                 description: ProviderID is the unique identifier as specified by the
                   cloud provider.
diff --git a/config/crd/bases/infrastructure.cluster.x-k8s.io_gcpmachinetemplates.yaml b/config/crd/bases/infrastructure.cluster.x-k8s.io_gcpmachinetemplates.yaml
index 53bd0c1c0..965c78af1 100644
--- a/config/crd/bases/infrastructure.cluster.x-k8s.io_gcpmachinetemplates.yaml
+++ b/config/crd/bases/infrastructure.cluster.x-k8s.io_gcpmachinetemplates.yaml
@@ -76,6 +76,9 @@ spec:
                         description: 'InstanceType is the type of instance to create.
                           Example: n1.standard-2'
                         type: string
+                      preemptible:
+                        description: Preemptible defines if instance is preemptible
+                        type: boolean
                       providerID:
                         description: ProviderID is the unique identifier as specified
                           by the cloud provider.