diff --git a/botorch_community/acquisition/__init__.py b/botorch_community/acquisition/__init__.py
index 661e2c9dee..3d43cc0ab8 100644
--- a/botorch_community/acquisition/__init__.py
+++ b/botorch_community/acquisition/__init__.py
@@ -16,6 +16,9 @@
     acqf_input_constructor,
 )
 from botorch_community.acquisition.local_entropy_search import LocalEntropySearch
+from botorch_community.acquisition.log_expected_improvement_per_cost import (
+    LogExpectedImprovementPerCost,
+)
 from botorch_community.acquisition.rei import (
     LogRegionalExpectedImprovement,
     qLogRegionalExpectedImprovement,
@@ -24,6 +27,7 @@
 
 __all__ = [
     "LocalEntropySearch",
+    "LogExpectedImprovementPerCost",
     "LogRegionalExpectedImprovement",
     "qBayesianQueryByComittee",
     "qBayesianVarianceReduction",
diff --git a/botorch_community/acquisition/log_expected_improvement_per_cost.py b/botorch_community/acquisition/log_expected_improvement_per_cost.py
new file mode 100644
index 0000000000..275b333329
--- /dev/null
+++ b/botorch_community/acquisition/log_expected_improvement_per_cost.py
@@ -0,0 +1,133 @@
+#!/usr/bin/env python3
+# Copyright (c) Meta Platforms, Inc. and affiliates.
+#
+# This source code is licensed under the MIT license found in the
+# LICENSE file in the root directory of this source tree.
+
+r"""
+Log Expected Improvement with evaluation cost (analytic).
+
+References
+
+.. [Ament2023logei]
+    S. Ament, S. Daulton, D. Eriksson, M. Balandat, E. Bakshy.
+    Unexpected Improvements to Expected Improvement for Bayesian 
+    Optimization. Advances in Neural Information Processing Systems,
+    36, 2023.
+
+.. [Xie2025costaware]
+    Q. Xie, L. Cai, A. Terenin, P. I. Frazier, Z. Scully
+    Cost-Aware Stopping for Bayesian Optimization.
+    arXiv:2507.12453, 2025.
+
+Contributor: wgst
+"""
+
+from __future__ import annotations
+
+from collections.abc import Callable
+
+import torch
+from botorch.acquisition.analytic import (
+    _log_ei_helper,
+    _scaled_improvement,
+    AnalyticAcquisitionFunction,
+)
+from botorch.acquisition.objective import PosteriorTransform
+from botorch.models.model import Model
+from botorch.utils.transforms import (
+    average_over_ensemble_models,
+    t_batch_mode_transform,
+)
+from torch import Tensor
+
+
+class LogExpectedImprovementPerCost(AnalyticAcquisitionFunction):
+    r"""Single-outcome Log Expected Improvement with evaluation cost (analytic).
+
+    Computes the log expected improvement adjusted for the cost of evaluating
+    the candidate point:
+
+    ``LogEIC(x) = LogEI(x; best_f) - alpha * log(c(x)),``
+
+    where ``LogEI`` is the log expected improvement [Ament2023logei]_ and
+    ``c(x)`` is the evaluation cost at ``x``.  The argmax of ``LogEIC``
+    is the cost-adjusted most promising candidate to evaluate next.
+
+    This acquisition function underlies the cost-aware stopping rule of
+    [Xie2025costaware]_: stop when ``max_x LogEIC(x) + log(lambda)`` is
+    non-positive, i.e. no candidate's expected improvement exceeds its cost
+    scaled by the exchange rate ``lambda``.
+
+    Example:
+        >>> model = SingleTaskGP(train_X, train_Y)
+        >>> # Cost proportional to first input (e.g. reaction time)
+        >>> cost = lambda X: 1.0 + 3.0 * X[..., 0]
+        >>> LogEIC = LogExpectedImprovementPerCost(
+        ...     model, best_f=0.2, cost_callable=cost
+        ... )
+        >>> leic = LogEIC(test_X)
+    """
+
+    _log: bool = True
+
+    def __init__(
+        self,
+        model: Model,
+        best_f: float | Tensor,
+        cost_callable: Callable[[Tensor], Tensor],
+        alpha: float = 1.0,
+        posterior_transform: PosteriorTransform | None = None,
+        maximize: bool = True,
+    ) -> None:
+        r"""Single-outcome Log Expected Improvement with evaluation cost.
+
+        Args:
+            model: A fitted single-outcome model.
+            best_f: Either a scalar or a ``b``-dim Tensor (batch mode)
+                representing the best function value observed so far
+                (assumed noiseless).
+            cost_callable: A callable ``c(X: Tensor[..., d]) -> Tensor[...]``
+                that returns the strictly positive evaluation cost at each
+                candidate point ``X``.  Supports spatially varying costs
+                (e.g. ``lambda X: 1.0 + 3.0 * X[..., 0]``).  Must broadcast
+                over the leading batch dimensions of ``X``.
+            alpha: Cost exponent in ``c(x)^alpha``.  ``1.0`` (default) matches
+                the primary formulation of [Xie2025costaware]_.  Values less
+                than 1 reduce the influence of cost.
+            posterior_transform: A PosteriorTransform. If using a multi-output
+                model, a PosteriorTransform that transforms the multi-output
+                posterior into a single-output posterior is required.
+            maximize: If True, consider the problem a maximization problem.
+        """
+        super().__init__(model=model, posterior_transform=posterior_transform)
+        self.register_buffer("best_f", torch.as_tensor(best_f))
+        self.cost_callable = cost_callable
+        self.alpha = alpha
+        self.maximize = maximize
+
+    @t_batch_mode_transform(expected_q=1)
+    @average_over_ensemble_models
+    def forward(self, X: Tensor) -> Tensor:
+        r"""Evaluate Log Expected Improvement with cost on the candidate set X.
+
+        Args:
+            X: A ``(b1 x ... bk) x 1 x d``-dim batched tensor of
+                ``d``-dim design points.
+
+        Returns:
+            A ``(b1 x ... bk)``-dim tensor of LogEIC values.
+        """
+        mean, sigma = self._mean_and_sigma(X)
+        u = _scaled_improvement(mean, sigma, self.best_f, self.maximize)
+        log_ei = (_log_ei_helper(u) + sigma.log()).squeeze(-1)
+
+        # X has shape (..., 1, d); squeeze the q-dim before passing to cost_callable.
+        costs = self.cost_callable(X.squeeze(-2))
+        if not (costs > 0).all():
+            raise ValueError(
+                "cost_callable must return strictly positive values; "
+                "got non-positive cost(s)."
+            )
+        log_cost = costs.clamp(min=1e-12).log()
+        return log_ei - self.alpha * log_cost
diff --git a/test_community/acquisition/test_log_expected_improvement_per_cost.py b/test_community/acquisition/test_log_expected_improvement_per_cost.py
new file mode 100644
index 0000000000..813d851234
--- /dev/null
+++ b/test_community/acquisition/test_log_expected_improvement_per_cost.py
@@ -0,0 +1,82 @@
+#!/usr/bin/env python3
+# Copyright (c) Meta Platforms, Inc. and affiliates.
+#
+# This source code is licensed under the MIT license found in the
+# LICENSE file in the root directory of this source tree.
+
+import math
+
+import torch
+from botorch.acquisition.analytic import LogExpectedImprovement
+from botorch.utils.testing import BotorchTestCase, MockModel, MockPosterior
+from botorch_community.acquisition.log_expected_improvement_per_cost import (
+    LogExpectedImprovementPerCost,
+)
+
+
+class TestLogExpectedImprovementPerCost(BotorchTestCase):
+    def test_log_expected_improvement_with_cost(self) -> None:
+        for dtype in (torch.float, torch.double):
+            self._test_leic(dtype=dtype)
+
+    def _test_leic(self, dtype: torch.dtype) -> None:
+        mean = torch.tensor([[-0.5]], dtype=dtype)
+        variance = torch.ones(1, 1, dtype=dtype)
+        mm = MockModel(MockPosterior(mean=mean, variance=variance))
+        X = torch.empty(1, 1, dtype=dtype)  # dummy; posterior is mocked
+
+        # Constant cost c=2: LogEIC should equal LogEI - log(2)
+        def cost_fn(X):
+            return torch.full(X.shape[:-1], 2.0, dtype=X.dtype)
+
+        lei = LogExpectedImprovement(model=mm, best_f=0.0)
+        leic = LogExpectedImprovementPerCost(
+            model=mm, best_f=0.0, cost_callable=cost_fn
+        )
+        self.assertAllClose(leic(X).squeeze(), (lei(X) - math.log(2.0)).squeeze(), atol=1e-5)
+
+        # alpha=2: LogEIC = LogEI - 2*log(c)
+        leic_alpha2 = LogExpectedImprovementPerCost(
+            model=mm, best_f=0.0, cost_callable=cost_fn, alpha=2.0
+        )
+        self.assertAllClose(
+            leic_alpha2(X).squeeze(), (lei(X) - 2.0 * math.log(2.0)).squeeze(), atol=1e-5
+        )
+
+        # maximize=True (explicit)
+        lei_max = LogExpectedImprovement(model=mm, best_f=0.0, maximize=True)
+        leic_max = LogExpectedImprovementPerCost(
+            model=mm, best_f=0.0, cost_callable=cost_fn, maximize=True
+        )
+        self.assertAllClose(
+            leic_max(X).squeeze(), (lei_max(X) - math.log(2.0)).squeeze(), atol=1e-5
+        )
+
+        # maximize=False
+        lei_min = LogExpectedImprovement(model=mm, best_f=0.0, maximize=False)
+        leic_min = LogExpectedImprovementPerCost(
+            model=mm, best_f=0.0, cost_callable=cost_fn, maximize=False
+        )
+        self.assertAllClose(
+            leic_min(X).squeeze(), (lei_min(X) - math.log(2.0)).squeeze(), atol=1e-5
+        )
+
+        # Input-dependent cost: at x=0, c(x)=1.0, so LogEIC = LogEI
+        def cost_fn2(X):
+            return 1.0 + X[..., 0].abs()
+
+        leic_xdep = LogExpectedImprovementPerCost(
+            model=mm, best_f=0.0, cost_callable=cost_fn2
+        )
+        X_zero = torch.zeros(1, 1, dtype=dtype)
+        self.assertAllClose(leic_xdep(X_zero).squeeze(), lei(X_zero).squeeze(), atol=1e-5)
+
+        # Batch mode: X = (b, 1, d)
+        X_batch = torch.empty(3, 1, 1, dtype=dtype)
+        mean_b = torch.full((3, 1, 1), -0.5, dtype=dtype)
+        var_b = torch.ones(3, 1, 1, dtype=dtype)
+        mm_b = MockModel(MockPosterior(mean=mean_b, variance=var_b))
+        leic_b = LogExpectedImprovementPerCost(
+            model=mm_b, best_f=0.0, cost_callable=cost_fn
+        )
+        self.assertEqual(leic_b(X_batch).shape, torch.Size([3]))