diff --git a/apps/launcher/advancedpage.cpp b/apps/launcher/advancedpage.cpp
index 9b6e5fa8c..9ae83419d 100644
--- a/apps/launcher/advancedpage.cpp
+++ b/apps/launcher/advancedpage.cpp
@@ -23,6 +23,7 @@ bool Launcher::AdvancedPage::loadSettings()
     loadSettingBool(showEnchantChanceCheckBox, "show enchant chance", "Game");
     loadSettingBool(showMeleeInfoCheckBox, "show melee info", "Game");
     loadSettingBool(showProjectileDamageCheckBox, "show projectile damage", "Game");
+    loadSettingBool(rebalanceSoulGemValuesCheckBox, "rebalance soul gem values", "Game");
 
     // Expected values are (0, 1, 2, 3)
     int showOwnedIndex = mEngineSettings.getInt("show owned", "Game");
@@ -61,6 +62,7 @@ void Launcher::AdvancedPage::saveSettings()
     saveSettingBool(showEnchantChanceCheckBox, "show enchant chance", "Game");
     saveSettingBool(showMeleeInfoCheckBox, "show melee info", "Game");
     saveSettingBool(showProjectileDamageCheckBox, "show projectile damage", "Game");
+    saveSettingBool(rebalanceSoulGemValuesCheckBox, "rebalance soul gem values", "Game");
 
     int showOwnedCurrentIndex = showOwnedComboBox->currentIndex();
     if (showOwnedCurrentIndex != mEngineSettings.getInt("show owned", "Game"))
diff --git a/apps/openmw/mwclass/misc.cpp b/apps/openmw/mwclass/misc.cpp
index 5a933d535..62b15bc86 100644
--- a/apps/openmw/mwclass/misc.cpp
+++ b/apps/openmw/mwclass/misc.cpp
@@ -1,6 +1,7 @@
 #include "misc.hpp"
 
 #include <components/esm/loadmisc.hpp>
+#include <components/settings/settings.hpp>
 
 #include "../mwbase/environment.hpp"
 #include "../mwbase/world.hpp"
@@ -85,7 +86,22 @@ namespace MWClass
         {
             const ESM::Creature *creature = MWBase::Environment::get().getWorld()->getStore().get<ESM::Creature>().search(ref->mRef.getSoul());
             if (creature)
-                value *= creature->mData.mSoul;
+            {
+                int soul = creature->mData.mSoul;
+                if (Settings::Manager::getBool("rebalance soul gem values", "Game"))
+                {
+                    // use the 'soul gem value rebalance' formula from the Morrowind Code Patch 
+                    float soulValue = 0.0001 * pow(soul, 3) + 2 * soul;
+                    
+                    // for Azura's star add the unfilled value
+                    if (Misc::StringUtils::ciEqual(ptr.getCellRef().getRefId(), "Misc_SoulGem_Azura"))
+                        value += soulValue;
+                    else
+                        value = soulValue;
+                }
+                else
+                    value *= soul;
+            }
         }
 
         return value;
diff --git a/files/settings-default.cfg b/files/settings-default.cfg
index 87443ff1a..4483e3d9d 100644
--- a/files/settings-default.cfg
+++ b/files/settings-default.cfg
@@ -216,6 +216,9 @@ followers attack on sight = false
 # Can loot non-fighting actors during death animation
 can loot during death animation = true
 
+# Makes the value of filled soul gems dependent only on soul magnitude (with formula from the Morrowind Code Patch)
+rebalance soul gem values = true
+
 [General]
 
 # Anisotropy reduces distortion in textures at low angles (e.g. 0 to 16).
diff --git a/files/ui/advancedpage.ui b/files/ui/advancedpage.ui
index 6832b86df..4e0234e2e 100644
--- a/files/ui/advancedpage.ui
+++ b/files/ui/advancedpage.ui
@@ -109,6 +109,16 @@
             </property>
            </widget>
           </item>
+          <item>
+           <widget class="QCheckBox" name="rebalanceSoulGemValuesCheckBox">
+            <property name="toolTip">
+             <string>&lt;html&gt;&lt;head/&gt;&lt;body&gt;&lt;p&gt;If this setting is true, the value of filled soul gems is dependent only on soul magnitude.&lt;/p&gt;&lt;p&gt;The default value is true.&lt;/p&gt;&lt;/body&gt;&lt;/html&gt;</string>
+            </property>
+            <property name="text">
+             <string>Rebalance soul gem values</string>
+            </property>
+           </widget>
+          </item>
           <item alignment="Qt::AlignLeft">
            <widget class="QWidget" name="showOwnedGroup" native="true">
             <property name="toolTip">