diff --git a/crates/lune-std-luau/src/lib.rs b/crates/lune-std-luau/src/lib.rs
index 59b0934..e41eed5 100644
--- a/crates/lune-std-luau/src/lib.rs
+++ b/crates/lune-std-luau/src/lib.rs
@@ -4,6 +4,12 @@ use mlua::prelude::*;
 
 use lune_utils::TableBuilder;
 
+mod options;
+
+use self::options::{LuauCompileOptions, LuauLoadOptions};
+
+const BYTECODE_ERROR_BYTE: u8 = 0;
+
 /**
     Creates the `luau` standard library module.
 
@@ -12,5 +18,52 @@ use lune_utils::TableBuilder;
     Errors when out of memory.
 */
 pub fn module(lua: &Lua) -> LuaResult<LuaTable> {
-    TableBuilder::new(lua)?.build_readonly()
+    TableBuilder::new(lua)?
+        .with_function("compile", compile_source)?
+        .with_function("load", load_source)?
+        .build_readonly()
+}
+
+fn compile_source<'lua>(
+    lua: &'lua Lua,
+    (source, options): (LuaString<'lua>, LuauCompileOptions),
+) -> LuaResult<LuaString<'lua>> {
+    let bytecode = options.into_compiler().compile(source);
+
+    match bytecode.first() {
+        Some(&BYTECODE_ERROR_BYTE) => Err(LuaError::RuntimeError(
+            String::from_utf8_lossy(&bytecode).into_owned(),
+        )),
+        Some(_) => lua.create_string(bytecode),
+        None => panic!("Compiling resulted in empty bytecode"),
+    }
+}
+
+fn load_source<'lua>(
+    lua: &'lua Lua,
+    (source, options): (LuaString<'lua>, LuauLoadOptions),
+) -> LuaResult<LuaFunction<'lua>> {
+    let mut chunk = lua.load(source.as_bytes()).set_name(options.debug_name);
+
+    if let Some(environment) = options.environment {
+        let environment_with_globals = lua.create_table()?;
+
+        if let Some(meta) = environment.get_metatable() {
+            environment_with_globals.set_metatable(Some(meta));
+        }
+
+        for pair in lua.globals().pairs() {
+            let (key, value): (LuaValue, LuaValue) = pair?;
+            environment_with_globals.set(key, value)?;
+        }
+
+        for pair in environment.pairs() {
+            let (key, value): (LuaValue, LuaValue) = pair?;
+            environment_with_globals.set(key, value)?;
+        }
+
+        chunk = chunk.set_environment(environment_with_globals);
+    }
+
+    chunk.into_function()
 }
diff --git a/crates/lune-std-luau/src/options.rs b/crates/lune-std-luau/src/options.rs
new file mode 100644
index 0000000..a2040ec
--- /dev/null
+++ b/crates/lune-std-luau/src/options.rs
@@ -0,0 +1,133 @@
+#![allow(clippy::struct_field_names)]
+
+use mlua::prelude::*;
+use mlua::Compiler as LuaCompiler;
+
+const DEFAULT_DEBUG_NAME: &str = "luau.load(...)";
+
+/**
+    Options for compiling Lua source code.
+*/
+#[derive(Debug, Clone, Copy)]
+pub struct LuauCompileOptions {
+    pub(crate) optimization_level: u8,
+    pub(crate) coverage_level: u8,
+    pub(crate) debug_level: u8,
+}
+
+impl LuauCompileOptions {
+    pub fn into_compiler(self) -> LuaCompiler {
+        LuaCompiler::default()
+            .set_optimization_level(self.optimization_level)
+            .set_coverage_level(self.coverage_level)
+            .set_debug_level(self.debug_level)
+    }
+}
+
+impl Default for LuauCompileOptions {
+    fn default() -> Self {
+        // NOTE: This is the same as LuaCompiler::default() values, but they are
+        // not accessible from outside of mlua so we need to recreate them here.
+        Self {
+            optimization_level: 1,
+            coverage_level: 0,
+            debug_level: 1,
+        }
+    }
+}
+
+impl<'lua> FromLua<'lua> for LuauCompileOptions {
+    fn from_lua(value: LuaValue<'lua>, _: &'lua Lua) -> LuaResult<Self> {
+        Ok(match value {
+            LuaValue::Nil => Self::default(),
+            LuaValue::Table(t) => {
+                let mut options = Self::default();
+
+                let get_and_check = |name: &'static str| -> LuaResult<Option<u8>> {
+                    match t.get(name)? {
+                        Some(n @ (0..=2)) => Ok(Some(n)),
+                        Some(n) => Err(LuaError::runtime(format!(
+                            "'{name}' must be one of: 0, 1, or 2 - got {n}"
+                        ))),
+                        None => Ok(None),
+                    }
+                };
+
+                if let Some(optimization_level) = get_and_check("optimizationLevel")? {
+                    options.optimization_level = optimization_level;
+                }
+                if let Some(coverage_level) = get_and_check("coverageLevel")? {
+                    options.coverage_level = coverage_level;
+                }
+                if let Some(debug_level) = get_and_check("debugLevel")? {
+                    options.debug_level = debug_level;
+                }
+
+                options
+            }
+            _ => {
+                return Err(LuaError::FromLuaConversionError {
+                    from: value.type_name(),
+                    to: "CompileOptions",
+                    message: Some(format!(
+                        "Invalid compile options - expected table, got {}",
+                        value.type_name()
+                    )),
+                })
+            }
+        })
+    }
+}
+
+/**
+    Options for loading Lua source code.
+*/
+#[derive(Debug, Clone)]
+pub struct LuauLoadOptions<'lua> {
+    pub(crate) debug_name: String,
+    pub(crate) environment: Option<LuaTable<'lua>>,
+}
+
+impl Default for LuauLoadOptions<'_> {
+    fn default() -> Self {
+        Self {
+            debug_name: DEFAULT_DEBUG_NAME.to_string(),
+            environment: None,
+        }
+    }
+}
+
+impl<'lua> FromLua<'lua> for LuauLoadOptions<'lua> {
+    fn from_lua(value: LuaValue<'lua>, _: &'lua Lua) -> LuaResult<Self> {
+        Ok(match value {
+            LuaValue::Nil => Self::default(),
+            LuaValue::Table(t) => {
+                let mut options = Self::default();
+
+                if let Some(debug_name) = t.get("debugName")? {
+                    options.debug_name = debug_name;
+                }
+
+                if let Some(environment) = t.get("environment")? {
+                    options.environment = Some(environment);
+                }
+
+                options
+            }
+            LuaValue::String(s) => Self {
+                debug_name: s.to_string_lossy().to_string(),
+                environment: None,
+            },
+            _ => {
+                return Err(LuaError::FromLuaConversionError {
+                    from: value.type_name(),
+                    to: "LoadOptions",
+                    message: Some(format!(
+                        "Invalid load options - expected string or table, got {}",
+                        value.type_name()
+                    )),
+                })
+            }
+        })
+    }
+}