diff --git a/README.rst b/README.rst
index b64318a..f961257 100644
--- a/README.rst
+++ b/README.rst
@@ -102,6 +102,10 @@ code_language
   should be annotated with `````python`` or similar.
   Defaults to ``''`` (empty string) and can be any string.
 
+escape_asterisks
+  If set to ``False``, do not escape ``*`` to ``\*`` in text.
+  Defaults to ``True``.
+
 escape_underscores
   If set to ``False``, do not escape ``_`` to ``\_`` in text.
   Defaults to ``True``.
diff --git a/markdownify/__init__.py b/markdownify/__init__.py
index 8cf56eb..4ef539b 100644
--- a/markdownify/__init__.py
+++ b/markdownify/__init__.py
@@ -25,14 +25,6 @@ ASTERISK = '*'
 UNDERSCORE = '_'
 
 
-def escape(text, escape_underscores):
-    if not text:
-        return ''
-    if escape_underscores:
-        return text.replace('_', r'\_')
-    return text
-
-
 def chomp(text):
     """
     If the text in an inline tag like b, a, or em contains a leading or trailing
@@ -73,6 +65,7 @@ class MarkdownConverter(object):
         code_language = ''
         convert = None
         default_title = False
+        escape_asterisks = True
         escape_underscores = True
         heading_style = UNDERLINED
         keep_inline_images_in = []
@@ -162,7 +155,7 @@ class MarkdownConverter(object):
             text = whitespace_re.sub(' ', text)
 
         if el.parent.name != 'code':
-            text = escape(text, self.options['escape_underscores'])
+            text = self.escape(text)
 
         # remove trailing whitespaces if any of the following condition is true:
         # - current text node is the last node in li
@@ -200,6 +193,15 @@ class MarkdownConverter(object):
         else:
             return True
 
+    def escape(self, text):
+        if not text:
+            return ''
+        if self.options['escape_asterisks']:
+            text = text.replace('*', r'\*')
+        if self.options['escape_underscores']:
+            text = text.replace('_', r'\_')
+        return text
+
     def indent(self, text, level):
         return line_beginning_re.sub('\t' * level, text) if text else ''
 
diff --git a/tests/test_escaping.py b/tests/test_escaping.py
index 3388b7e..2f3a83e 100644
--- a/tests/test_escaping.py
+++ b/tests/test_escaping.py
@@ -1,6 +1,11 @@
 from markdownify import markdownify as md
 
 
+def test_asterisks():
+    assert md('*hey*dude*') == r'\*hey\*dude\*'
+    assert md('*hey*dude*', escape_asterisks=False) == r'*hey*dude*'
+
+
 def test_underscore():
     assert md('_hey_dude_') == r'\_hey\_dude\_'
     assert md('_hey_dude_', escape_underscores=False) == r'_hey_dude_'