diff --git a/lib/coffee_script/grammar.y b/lib/coffee_script/grammar.y
index 8b459ee8..ea3845ee 100644
--- a/lib/coffee_script/grammar.y
+++ b/lib/coffee_script/grammar.y
@@ -38,7 +38,8 @@ prechigh
   right    THROW FOR NEW SUPER
   left     EXTENDS
   left     ASSIGN '||=' '&&='
-  right    RETURN '=>' UNLESS IF ELSE WHILE
+  right    RETURN
+  right    '=>' UNLESS IF ELSE WHILE
 preclow
 
 rule
@@ -124,6 +125,7 @@ rule
   # A return statement.
   Return:
     RETURN Expression                 { result = ReturnNode.new(val[1]) }
+  | RETURN                            { result = ReturnNode.new(ValueNode.new(Value.new('null'))) }
   ;
 
   # A comment.
diff --git a/test/fixtures/execution/test_literals.coffee b/test/fixtures/execution/test_literals.coffee
index 27fec2d3..6570509e 100644
--- a/test/fixtures/execution/test_literals.coffee
+++ b/test/fixtures/execution/test_literals.coffee
@@ -11,4 +11,10 @@ print(!!words.match(regex))
 
 neg: (3 -4)
 
-print(neg is -1)
\ No newline at end of file
+print(neg is -1)
+
+
+func: =>
+  return if true
+
+print(func() is null)
\ No newline at end of file