diff --git a/js/js.libraries/src/core/kotlin.kt b/js/js.libraries/src/core/kotlin.kt
index b3445718a37..219612926b3 100644
--- a/js/js.libraries/src/core/kotlin.kt
+++ b/js/js.libraries/src/core/kotlin.kt
@@ -51,6 +51,13 @@ public fun setOf<T>(value: T): Set<T> = hashSetOf(value)
  */
 public fun mapOf<K, V>(keyValuePair: Pair<K, V>): Map<K, V> = hashMapOf(keyValuePair)
 
-
+/**
+ * Creates a new instance of the [Lazy] that uses the specified initialization function [initializer].
+ */
 public fun lazy<T>(initializer: () -> T): Lazy<T> = UnsafeLazyImpl(initializer)
+
+/**
+ * Creates a new instance of the [Lazy] that uses the specified initialization function [initializer].
+ *
+ * The [mode] parameter is ignored. */
 public fun lazy<T>(mode: LazyThreadSafetyMode, initializer: () -> T): Lazy<T> = UnsafeLazyImpl(initializer)
diff --git a/libraries/stdlib/src/kotlin/util/Lazy.kt b/libraries/stdlib/src/kotlin/util/Lazy.kt
index 48c3fa9afb3..73dda4356e4 100644
--- a/libraries/stdlib/src/kotlin/util/Lazy.kt
+++ b/libraries/stdlib/src/kotlin/util/Lazy.kt
@@ -15,6 +15,11 @@ public interface Lazy<out T> {
     public fun isInitialized(): Boolean
 }
 
+/**
+ * Creates a new instance of the [Lazy] that is already initialized with the specified [value].
+ */
+public fun lazyOf<T>(value: T): Lazy<T> = InitializedLazyImpl(value)
+
 /**
  * An extension to delegate a read-only property of type [T] to an instance of [Lazy].
  *
diff --git a/libraries/stdlib/src/kotlin/util/LazyJVM.kt b/libraries/stdlib/src/kotlin/util/LazyJVM.kt
index 88b4f74b29c..804590a0699 100644
--- a/libraries/stdlib/src/kotlin/util/LazyJVM.kt
+++ b/libraries/stdlib/src/kotlin/util/LazyJVM.kt
@@ -2,7 +2,7 @@ package kotlin
 
 
 /**
- * Initializes a new instance of the [Lazy] that uses the specified initialization function [initializer]
+ * Creates a new instance of the [Lazy] that uses the specified initialization function [initializer]
  * and the default thread-safety mode [LazyThreadSafetyMode.SYNCHRONIZED].
  *
  * If the initialization of a value throws an exception, it will attempt to reinitialize the value at next access.
@@ -13,7 +13,7 @@ package kotlin
 public fun lazy<T>(initializer: () -> T): Lazy<T> = LazyImpl(initializer)
 
 /**
- * Initializes a new instance of the [Lazy] that uses the specified initialization function [initializer]
+ * Creates a new instance of the [Lazy] that uses the specified initialization function [initializer]
  * and thread-safety [mode].
  *
  * If the initialization of a value throws an exception, it will attempt to reinitialize the value at next access.
diff --git a/libraries/stdlib/test/utils/LazyTest.kt b/libraries/stdlib/test/utils/LazyTest.kt
index 65943fbf916..1e2ff510c56 100644
--- a/libraries/stdlib/test/utils/LazyTest.kt
+++ b/libraries/stdlib/test/utils/LazyTest.kt
@@ -11,23 +11,20 @@ class LazyTest {
         val lazyInt = lazy { ++callCount }
 
         assertEquals(0, callCount)
+        assertFalse(lazyInt.isInitialized())
         assertEquals(1, lazyInt.value)
         assertEquals(1, callCount)
+        assertTrue(lazyInt.isInitialized())
 
         lazyInt.value
         assertEquals(1, callCount)
     }
 
-    test fun valueCreated() {
-        var callCount = 0
-        val lazyInt = lazy { ++callCount }
-
-        assertFalse(lazyInt.isInitialized())
-        assertEquals(0, callCount)
-
-        lazyInt.value
+    test fun alreadyInitialized() {
+        val lazyInt = lazyOf(1)
 
         assertTrue(lazyInt.isInitialized())
+        assertEquals(1, lazyInt.value)
     }