diff --git a/.gitignore b/.gitignore
index 8b3d51a642..dd2f998ba5 100644
--- a/.gitignore
+++ b/.gitignore
@@ -66,3 +66,4 @@ project/metals.sbt
 
 *~
 *#*#
+.vscode
diff --git a/src/main/scala/firrtl/EmissionOption.scala b/src/main/scala/firrtl/EmissionOption.scala
index 074d9c2886..90eb585186 100644
--- a/src/main/scala/firrtl/EmissionOption.scala
+++ b/src/main/scala/firrtl/EmissionOption.scala
@@ -2,6 +2,8 @@
 
 package firrtl
 
+import firrtl.annotations.MemoryLoadFileType
+
 /**
   * Base type for emission customization options
   * NOTE: all the following traits must be mixed with SingleTargetAnnotation[T <: Named]
@@ -18,6 +20,7 @@ sealed trait MemoryInitValue
 case object MemoryRandomInit extends MemoryInitValue
 case class MemoryScalarInit(value: BigInt) extends MemoryInitValue
 case class MemoryArrayInit(values: Seq[BigInt]) extends MemoryInitValue
+case class MemoryFileInlineInit(filename: String, hexOrBinary: MemoryLoadFileType.FileType) extends MemoryInitValue
 
 /** default Emitter behavior for memories */
 case object MemoryEmissionOptionDefault extends MemoryEmissionOption
diff --git a/src/main/scala/firrtl/annotations/MemoryInitAnnotation.scala b/src/main/scala/firrtl/annotations/MemoryInitAnnotation.scala
index 44656e0d08..62dc96f485 100644
--- a/src/main/scala/firrtl/annotations/MemoryInitAnnotation.scala
+++ b/src/main/scala/firrtl/annotations/MemoryInitAnnotation.scala
@@ -2,7 +2,14 @@
 
 package firrtl.annotations
 
-import firrtl.{MemoryArrayInit, MemoryEmissionOption, MemoryInitValue, MemoryRandomInit, MemoryScalarInit}
+import firrtl.{
+  MemoryArrayInit,
+  MemoryEmissionOption,
+  MemoryFileInlineInit,
+  MemoryInitValue,
+  MemoryRandomInit,
+  MemoryScalarInit
+}
 
 /**
   * Represents the initial value of the annotated memory.
@@ -33,3 +40,15 @@ case class MemoryArrayInitAnnotation(target: ReferenceTarget, values: Seq[BigInt
   override def initValue:    MemoryInitValue = MemoryArrayInit(values)
   override def isRandomInit: Boolean = false
 }
+
+/** Initialize the `target` memory with inline readmem[hb] statement. */
+case class MemoryFileInlineAnnotation(
+  target:      ReferenceTarget,
+  filename:    String,
+  hexOrBinary: MemoryLoadFileType.FileType = MemoryLoadFileType.Hex)
+    extends MemoryInitAnnotation {
+  require(filename.trim.nonEmpty, "empty filename not allowed in MemoryFileInlineAnnotation")
+  override def duplicate(n: ReferenceTarget): Annotation = copy(n)
+  override def initValue:    MemoryInitValue = MemoryFileInlineInit(filename, hexOrBinary)
+  override def isRandomInit: Boolean = false
+}
diff --git a/src/main/scala/firrtl/backends/verilog/VerilogEmitter.scala b/src/main/scala/firrtl/backends/verilog/VerilogEmitter.scala
index f1650ad741..bc4996df42 100644
--- a/src/main/scala/firrtl/backends/verilog/VerilogEmitter.scala
+++ b/src/main/scala/firrtl/backends/verilog/VerilogEmitter.scala
@@ -7,7 +7,7 @@ import firrtl.PrimOps._
 import firrtl.Utils._
 import firrtl.WrappedExpression._
 import firrtl.traversals.Foreachers._
-import firrtl.annotations.{CircuitTarget, ReferenceTarget, SingleTargetAnnotation}
+import firrtl.annotations.{CircuitTarget, MemoryLoadFileType, ReferenceTarget, SingleTargetAnnotation}
 import firrtl.passes.LowerTypes
 import firrtl.passes.MemPortUtils._
 import firrtl.stage.TransformManager
@@ -849,6 +849,16 @@ class VerilogEmitter extends SeqTransform with Emitter {
             rstring,
             ";"
           )
+        case MemoryFileInlineInit(filename, hexOrBinary) =>
+          val readmem = hexOrBinary match {
+            case MemoryLoadFileType.Binary => "$readmemb"
+            case MemoryLoadFileType.Hex    => "$readmemh"
+          }
+          val inlineLoad = s"""
+                              |initial begin
+                              |  $readmem("$filename", ${s.name});
+                              |end""".stripMargin
+          memoryInitials += Seq(inlineLoad)
       }
     }
 
diff --git a/src/test/scala/firrtlTests/MemoryInitSpec.scala b/src/test/scala/firrtlTests/MemoryInitSpec.scala
index 18f2b7ffda..a7c9966a3e 100644
--- a/src/test/scala/firrtlTests/MemoryInitSpec.scala
+++ b/src/test/scala/firrtlTests/MemoryInitSpec.scala
@@ -165,6 +165,23 @@ class MemInitSpec extends FirrtlFlatSpec {
     assert(annos == Seq(MemoryArrayInitAnnotation(mRef, largeSeq)))
   }
 
+  "MemoryFileInlineAnnotation" should "emit $readmemh for text.hex" in {
+    val annos = Seq(MemoryFileInlineAnnotation(mRef, filename = "text.hex"))
+    val result = compile(annos)
+    result should containLine("""$readmemh("text.hex", """ + mRef.name + """);""")
+  }
+
+  "MemoryFileInlineAnnotation" should "emit $readmemb for text.bin" in {
+    val annos = Seq(MemoryFileInlineAnnotation(mRef, filename = "text.bin", hexOrBinary = MemoryLoadFileType.Binary))
+    val result = compile(annos)
+    result should containLine("""$readmemb("text.bin", """ + mRef.name + """);""")
+  }
+
+  "MemoryFileInlineAnnotation" should "fail with blank filename" in {
+    assertThrows[Exception] {
+      compile(Seq(MemoryFileInlineAnnotation(mRef, filename = "")))
+    }
+  }
 }
 
 abstract class MemInitExecutionSpec(values: Seq[Int], init: ReferenceTarget => Annotation)