diff --git a/docs/source/metrics.rst b/docs/source/metrics.rst
index 2261498c8be0..6517db169e19 100644
--- a/docs/source/metrics.rst
+++ b/docs/source/metrics.rst
@@ -351,6 +351,7 @@ Complete list of metrics
     SSIM
     TopKCategoricalAccuracy
     Bleu
+    Perplexity
     Rouge
     RougeL
     RougeN
diff --git a/ignite/metrics/__init__.py b/ignite/metrics/__init__.py
index b1813cc92935..dd81e6e41f09 100644
--- a/ignite/metrics/__init__.py
+++ b/ignite/metrics/__init__.py
@@ -33,6 +33,7 @@
 from ignite.metrics.mutual_information import MutualInformation
 from ignite.metrics.nlp.bleu import Bleu
 from ignite.metrics.nlp.rouge import Rouge, RougeL, RougeN
+from ignite.metrics.nlp.perplexity import Perplexity
 from ignite.metrics.precision import Precision
 from ignite.metrics.precision_recall_curve import PrecisionRecallCurve
 from ignite.metrics.psnr import PSNR
@@ -93,6 +94,7 @@
     "Rouge",
     "RougeN",
     "RougeL",
+    "Perplexity",
     "regression",
     "clustering",
     "fairness",
diff --git a/ignite/metrics/nlp/__init__.py b/ignite/metrics/nlp/__init__.py
index 506f0bab51e1..d0212882b78b 100644
--- a/ignite/metrics/nlp/__init__.py
+++ b/ignite/metrics/nlp/__init__.py
@@ -1,8 +1,10 @@
 from ignite.metrics.nlp.bleu import Bleu
+from ignite.metrics.nlp.perplexity import Perplexity
 from ignite.metrics.nlp.rouge import Rouge, RougeL, RougeN
 
 __all__ = [
     "Bleu",
+    "Perplexity",
     "Rouge",
     "RougeN",
     "RougeL",
diff --git a/ignite/metrics/nlp/perplexity.py b/ignite/metrics/nlp/perplexity.py
new file mode 100644
index 000000000000..45c4ddf98138
--- /dev/null
+++ b/ignite/metrics/nlp/perplexity.py
@@ -0,0 +1,107 @@
+from collections.abc import Callable
+
+import torch
+import torch.nn.functional as F
+
+from ignite.exceptions import NotComputableError
+from ignite.metrics.metric import Metric, reinit__is_reduced, sync_all_reduce
+
+__all__ = ["Perplexity"]
+
+
+class Perplexity(Metric):
+    r"""Calculates the `Perplexity <https://en.wikipedia.org/wiki/Perplexity>`_ of a language model.
+
+    .. math::
+        \text{PPL}(W) = \exp \left( -\frac{1}{N} \sum_{i=1}^{N} \log P(w_i | w_1, \ldots, w_{i-1}) \right)
+
+    where :math:`N` is the total number of tokens and :math:`P(w_i | w_1, \ldots, w_{i-1})` is the
+    conditional probability of token :math:`w_i` given the preceding tokens.
+
+    Perplexity is computed as :math:`\exp(\text{NLL})` where NLL is the mean negative log-likelihood
+    over all tokens. Lower perplexity indicates a better language model.
+
+    - ``update`` must receive output of the form ``(y_pred, y)`` or ``{'y_pred': y_pred, 'y': y}``.
+    - `y_pred` must be a floating-point tensor of shape ``(batch_size, vocab_size, seq_len)``
+      containing the unnormalized log-probabilities (logits).
+    - `y` must be a long tensor of shape ``(batch_size, seq_len)`` containing the target token indices.
+
+    Note:
+        Perplexity uses token-weighted accumulation rather than batch-average to avoid bias
+        towards shorter sequences. The total NLL and total token count are accumulated across
+        all batches, and the final perplexity is computed as ``exp(total_nll / total_tokens)``.
+
+    Args:
+        output_transform: a callable that is used to transform the
+            :class:`~ignite.engine.engine.Engine`'s ``process_function``'s output into the
+            form expected by the metric. This can be useful if, for example, you have a multi-output model and
+            you want to compute the metric with respect to one of the outputs.
+            By default, metrics require the output as ``(y_pred, y)`` or ``{'y_pred': y_pred, 'y': y}``.
+        device: specifies which device updates are accumulated on. Setting the
+            metric's device to be the same as your ``update`` arguments ensures the ``update`` method is
+            non-blocking. By default, CPU.
+
+    Examples:
+
+        For more information on how metric works with :class:`~ignite.engine.engine.Engine`, visit :ref:`attach-engine`.
+
+        .. testcode::
+
+            from ignite.metrics.nlp import Perplexity
+            import torch
+
+            ppl = Perplexity()
+
+            # batch_size=2, vocab_size=5, seq_len=3
+            y_pred = torch.log_softmax(torch.randn(2, 5, 3), dim=1)
+            y = torch.randint(0, 5, (2, 3))
+
+            ppl.update((y_pred, y))
+
+            print(type(ppl.compute()))
+
+        .. testoutput::
+
+            <class 'float'>
+
+    .. versionadded:: 0.5.2
+    """
+
+    _state_dict_all_req_keys = ("_sum_of_nll", "_num_tokens")
+
+    def __init__(
+        self,
+        output_transform: Callable = lambda x: x,
+        device: str | torch.device = torch.device("cpu"),
+        ignore_index: int = -100,
+    ):
+        self._ignore_index = ignore_index
+        super().__init__(output_transform=output_transform, device=device)
+
+    @reinit__is_reduced
+    def reset(self) -> None:
+        self._sum_of_nll = torch.tensor(0.0, device=self._device)
+        self._num_tokens = torch.tensor(0, device=self._device)
+
+    @reinit__is_reduced
+    def update(self, output: tuple[torch.Tensor, torch.Tensor]) -> None:
+        y_pred, y = output
+        y_pred = y_pred.detach()
+        y = y.detach()
+
+        if y_pred.ndim < 2:
+            raise ValueError(f"y_pred must be at least 2-dimensional (got shape: {y_pred.shape})")
+
+        if y.ndim < 1:
+            raise ValueError(f"y must be at least 1-dimensional (got shape: {y.shape})")
+
+        nll = F.cross_entropy(y_pred, y, reduction="sum", ignore_index=self._ignore_index)
+        self._sum_of_nll += nll.to(self._device)
+        self._num_tokens += (y != self._ignore_index).sum()
+
+    @sync_all_reduce("_sum_of_nll", "_num_tokens")
+    def compute(self) -> float:
+        if self._num_tokens == 0:
+            raise NotComputableError("Perplexity must have at least one example before it can be computed.")
+
+        return torch.exp(self._sum_of_nll / self._num_tokens).item()
diff --git a/tests/ignite/metrics/nlp/test_perplexity.py b/tests/ignite/metrics/nlp/test_perplexity.py
new file mode 100644
index 000000000000..26c207c03815
--- /dev/null
+++ b/tests/ignite/metrics/nlp/test_perplexity.py
@@ -0,0 +1,147 @@
+import pytest
+import torch
+import torch.nn.functional as F
+
+import ignite.distributed as idist
+from ignite.engine import Engine
+from ignite.exceptions import NotComputableError
+from ignite.metrics.nlp import Perplexity
+
+torch.manual_seed(12)
+
+
+def test_zero_sample():
+    ppl = Perplexity()
+    with pytest.raises(
+        NotComputableError, match=r"Perplexity must have at least one example before it can be computed"
+    ):
+        ppl.compute()
+
+
+def test_invalid_y_pred_shape():
+    ppl = Perplexity()
+    with pytest.raises(ValueError, match=r"y_pred must be at least 2-dimensional"):
+        ppl.update((torch.tensor([1.0, 2.0]), torch.tensor([0])))
+
+
+def test_reset_clears_state():
+    torch.manual_seed(2)
+    ppl = Perplexity()
+
+    y_pred = torch.randn(2, 5, 3)
+    y = torch.randint(0, 5, (2, 3))
+    ppl.update((y_pred, y))
+    ppl.reset()
+
+    with pytest.raises(NotComputableError):
+        ppl.compute()
+
+
+def _reference_perplexity(y_pred, y):
+    """Reference implementation: token-weighted NLL."""
+    nll = F.cross_entropy(y_pred, y, reduction="sum")
+    return torch.exp(nll / y.numel()).item()
+
+
+@pytest.mark.parametrize("n_times", range(3))
+def test_compute_matches_reference(n_times, available_device):
+    ppl = Perplexity(device=available_device)
+    assert ppl._device == torch.device(available_device)
+
+    torch.manual_seed(n_times)
+    y_pred = torch.randn(4, 10, 5)
+    y = torch.randint(0, 10, (4, 5))
+
+    ppl.reset()
+    ppl.update((y_pred, y))
+
+    ref = _reference_perplexity(y_pred, y)
+    assert pytest.approx(ppl.compute(), abs=1e-4) == ref
+
+
+@pytest.mark.parametrize("n_times", range(3))
+def test_token_weighted_accumulation(n_times, available_device):
+    """Token-weighted accumulation across multiple batches."""
+    ppl = Perplexity(device=available_device)
+    assert ppl._device == torch.device(available_device)
+
+    torch.manual_seed(n_times)
+
+    b1_pred = torch.randn(2, 5, 4)
+    b1_y = torch.randint(0, 5, (2, 4))
+    b2_pred = torch.randn(3, 5, 4)
+    b2_y = torch.randint(0, 5, (3, 4))
+
+    ppl.reset()
+    ppl.update((b1_pred, b1_y))
+    ppl.update((b2_pred, b2_y))
+
+    combined_pred = torch.cat([b1_pred, b2_pred], dim=0)
+    combined_y = torch.cat([b1_y, b2_y], dim=0)
+    ppl_ref = _reference_perplexity(combined_pred, combined_y)
+
+    assert pytest.approx(ppl.compute(), abs=1e-4) == ppl_ref
+
+
+@pytest.mark.distributed
+@pytest.mark.skipif(not idist.has_native_dist_support, reason="Skip if no native dist support")
+@pytest.mark.usefixtures("distributed")
+class TestDistributed:
+    def test_accumulator_device(self):
+        metric_devices = [torch.device("cpu")]
+        device = idist.device()
+        if device.type != "xla":
+            metric_devices.append(device)
+
+        for metric_device in metric_devices:
+            ppl = Perplexity(device=metric_device)
+            assert ppl._device == metric_device
+            assert ppl._sum_of_nll.device == metric_device, f"{ppl._sum_of_nll.device} vs {metric_device}"
+
+            y_pred = torch.randn(2, 5, 3, device=device)
+            y = torch.randint(0, 5, (2, 3), device=device)
+            ppl.update((y_pred, y))
+
+            assert ppl._sum_of_nll.device == metric_device, f"{ppl._sum_of_nll.device} vs {metric_device}"
+
+    @pytest.mark.parametrize("n_epochs", [1, 2])
+    def test_integration(self, n_epochs):
+        rank = idist.get_rank()
+        torch.manual_seed(10 + rank)
+
+        n_iters = 20
+        batch_size = 4
+        vocab_size = 10
+        seq_len = 5
+
+        metric_devices = [torch.device("cpu")]
+        device = idist.device()
+        if device.type != "xla":
+            metric_devices.append(device)
+
+        for metric_device in metric_devices:
+            y_true = torch.randint(0, vocab_size, size=(n_iters * batch_size, seq_len)).to(device)
+            y_preds = torch.randn(n_iters * batch_size, vocab_size, seq_len).to(device)
+
+            def update(engine, i):
+                return (
+                    y_preds[i * batch_size : (i + 1) * batch_size],
+                    y_true[i * batch_size : (i + 1) * batch_size],
+                )
+
+            engine = Engine(update)
+            ppl = Perplexity(device=metric_device)
+            ppl.attach(engine, "ppl")
+
+            data = list(range(n_iters))
+            engine.run(data=data, max_epochs=n_epochs)
+
+            y_true_gathered = idist.all_gather(y_true)
+            y_preds_gathered = idist.all_gather(y_preds)
+
+            assert "ppl" in engine.state.metrics
+            res = engine.state.metrics["ppl"]
+
+            ref = _reference_perplexity(y_preds_gathered, y_true_gathered)
+
+            assert pytest.approx(res, abs=1e-4) == ref