diff --git a/__tests__/src/rules/anchor-ambiguous-text-test.js b/__tests__/src/rules/anchor-ambiguous-text-test.js
index fbd52e9ce..7706bb44c 100644
--- a/__tests__/src/rules/anchor-ambiguous-text-test.js
+++ b/__tests__/src/rules/anchor-ambiguous-text-test.js
@@ -39,6 +39,7 @@ ruleTester.run('anchor-ambiguous-text', rule, {
     { code: '<a>${here}</a>;' },
     { code: '<a aria-label="tutorial on using eslint-plugin-jsx-a11y">click here</a>;' },
     { code: '<a><span aria-label="tutorial on using eslint-plugin-jsx-a11y">click here</span></a>;' },
+    { code: '<a><img alt="documentation" /></a>;' },
     {
       code: '<a>click here</a>',
       options: [{
@@ -49,6 +50,10 @@ ruleTester.run('anchor-ambiguous-text', rule, {
       code: '<Link>documentation</Link>;',
       settings: { 'jsx-a11y': { components: { Link: 'a' } } },
     },
+    {
+      code: '<a><Image alt="documentation" /></a>;',
+      settings: { 'jsx-a11y': { components: { Image: 'img' } } },
+    },
     {
       code: '<Link>${here}</Link>;',
       settings: { 'jsx-a11y': { components: { Link: 'a' } } },
@@ -80,12 +85,20 @@ ruleTester.run('anchor-ambiguous-text', rule, {
     { code: '<a><span> click </span> here</a>;', errors: [expectedError] },
     { code: '<a><span aria-hidden>more text</span>learn more</a>;', errors: [expectedError] },
     { code: '<a><span aria-hidden="true">more text</span>learn more</a>;', errors: [expectedError] },
+    { code: '<a><img alt="click here"/></a>;', errors: [expectedError] },
+    { code: '<a alt="tutorial on using eslint-plugin-jsx-a11y">click here</a>;', errors: [expectedError] },
+    { code: '<a><span alt="tutorial on using eslint-plugin-jsx-a11y">click here</span></a>;', errors: [expectedError] },
     { code: '<a><CustomElement>click</CustomElement> here</a>;', errors: [expectedError] },
     {
       code: '<Link>here</Link>',
       errors: [expectedError],
       settings: { 'jsx-a11y': { components: { Link: 'a' } } },
     },
+    {
+      code: '<a><Image alt="click here" /></a>',
+      errors: [expectedError],
+      settings: { 'jsx-a11y': { components: { Image: 'img' } } },
+    },
     {
       code: '<a>a disallowed word</a>',
       errors: [expectedErrorGenerator(['a disallowed word'])],
diff --git a/__tests__/src/util/getAccessibleChildText-test.js b/__tests__/src/util/getAccessibleChildText-test.js
index 02a0b4e1d..6b67db4e0 100644
--- a/__tests__/src/util/getAccessibleChildText-test.js
+++ b/__tests__/src/util/getAccessibleChildText-test.js
@@ -35,6 +35,27 @@ describe('getAccessibleChildText', () => {
     ), elementType)).toBe('bar');
   });
 
+  it('returns alt text for img child', () => {
+    expect(getAccessibleChildText(JSXElementMock(
+      'a',
+      [],
+      [JSXElementMock('img', [
+        JSXAttributeMock('src', 'some/path'),
+        JSXAttributeMock('alt', 'a sensible label'),
+      ])],
+    ), elementType)).toBe('a sensible label');
+  });
+
+  it('returns blank when alt tag is used on arbitrary element', () => {
+    expect(getAccessibleChildText(JSXElementMock(
+      'a',
+      [],
+      [JSXElementMock('span', [
+        JSXAttributeMock('alt', 'a sensible label'),
+      ])],
+    ), elementType)).toBe('');
+  });
+
   it('returns literal value for JSXText child', () => {
     expect(getAccessibleChildText(JSXElementMock(
       'a',
diff --git a/docs/rules/anchor-ambiguous-text.md b/docs/rules/anchor-ambiguous-text.md
index ae7bbd45d..d9888a462 100644
--- a/docs/rules/anchor-ambiguous-text.md
+++ b/docs/rules/anchor-ambiguous-text.md
@@ -22,7 +22,13 @@ The `words` option allows users to modify the strings that can be checked for in
 const DEFAULT_AMBIGUOUS_WORDS = ['click here', 'here', 'link', 'a link', 'learn more'];
 ```
 
-If an element has the `aria-label` property, its value is used instead of the inner text. Note that the rule still disallows ambiguous `aria-label`s. This rule also skips over elements with `aria-hidden="true"`.
+The logic to calculate the inner text of an anchor is as follows:
+
+- if an element has the `aria-label` property, its value is used instead of the inner text
+- if an element has `aria-hidden="true`, it is skipped over
+- if an element is `<img />` or configured to be interpreted like one, its `alt` value is used as its inner text
+
+Note that this rule still disallows ambiguous `aria-label` or `alt` values.
 
 Note that this rule is case-insensitive and trims whitespace. It only looks for **exact matches**.
 
@@ -46,6 +52,8 @@ Note that this rule is case-insensitive and trims whitespace. It only looks for
 <a><i></i>a link</a>
 <a><span aria-hidden="true">more text</span>learn more</a> // skips over elements with aria-hidden=true
 <a aria-label="click here">something</a> // the aria-label here is inaccessible
+<a><img alt="click here"/></a> // the alt tag is still ambiguous
+<a alt="tutorial on using eslint-plugin-jsx-a11y">click here</a> // the alt tag is only parsed on img
 ```
 
 ## Accessibility guidelines
diff --git a/src/util/getAccessibleChildText.js b/src/util/getAccessibleChildText.js
index 9763db1a8..b25fd6139 100644
--- a/src/util/getAccessibleChildText.js
+++ b/src/util/getAccessibleChildText.js
@@ -29,6 +29,10 @@ export default function getAccessibleChildText(node: JSXElement, elementType: (J
   // early escape-hatch when aria-label is applied
   if (ariaLabel) return standardizeSpaceAndCase(ariaLabel);
 
+  // early-return if alt prop exists and is an image
+  const altTag = getLiteralPropValue(getProp(node.openingElement.attributes, 'alt'));
+  if (elementType(node.openingElement) === 'img' && altTag) return standardizeSpaceAndCase(altTag);
+
   // skip if aria-hidden is true
   if (
     isHiddenFromScreenReader(