diff --git a/zerver/lib/cache.py b/zerver/lib/cache.py
index 0c4abfaeb5..856f3fe5ca 100644
--- a/zerver/lib/cache.py
+++ b/zerver/lib/cache.py
@@ -1,6 +1,7 @@
 
 from functools import wraps
 
+from django.utils.lru_cache import lru_cache
 from django.core.cache import cache as djcache
 from django.core.cache import caches
 from django.conf import settings
@@ -454,3 +455,47 @@ def to_dict_cache_key(message):
 def flush_message(sender: Any, **kwargs: Any) -> None:
     message = kwargs['instance']
     cache_delete(to_dict_cache_key_id(message.id))
+
+DECORATOR = Callable[[Callable[..., Any]], Callable[..., Any]]
+
+def ignore_unhashable_lru_cache(maxsize: int=128, typed: bool=False) -> DECORATOR:
+    """
+    This is a wrapper over lru_cache function. It adds following features on
+    top of lru_cache:
+
+        * It will not cache result of functions with unhashable arguments.
+        * It will clear cache whenever zerver.lib.cache.KEY_PREFIX changes.
+    """
+    internal_decorator = lru_cache(maxsize=maxsize, typed=typed)
+
+    def decorator(user_function: Callable[..., Any]) -> Callable[..., Any]:
+        cache_enabled_user_function = internal_decorator(user_function)
+
+        def wrapper(*args: Any, **kwargs: Any) -> Any:
+            if not hasattr(cache_enabled_user_function, 'key_prefix'):
+                cache_enabled_user_function.key_prefix = KEY_PREFIX
+
+            if cache_enabled_user_function.key_prefix != KEY_PREFIX:
+                # Clear cache when cache.KEY_PREFIX changes. This is used in
+                # tests.
+                cache_enabled_user_function.cache_clear()
+                cache_enabled_user_function.key_prefix = KEY_PREFIX
+
+            try:
+                return cache_enabled_user_function(*args, **kwargs)
+            except TypeError:
+                # args or kwargs contains an element which is unhashable. In
+                # this case we don't cache the result.
+                pass
+
+            # Deliberately calling this function from outside of exception
+            # handler to get a more descriptive traceback. Otherise traceback
+            # can include the exception from cached_enabled_user_function as
+            # well.
+            return user_function(*args, **kwargs)
+
+        setattr(wrapper, 'cache_info', cache_enabled_user_function.cache_info)
+        setattr(wrapper, 'cache_clear', cache_enabled_user_function.cache_clear)
+        return wrapper
+
+    return decorator
diff --git a/zerver/tests/test_decorators.py b/zerver/tests/test_decorators.py
index e44fbc9374..f15a896b46 100644
--- a/zerver/tests/test_decorators.py
+++ b/zerver/tests/test_decorators.py
@@ -34,6 +34,7 @@ from zerver.decorator import (
     rate_limit, validate_api_key, logged_in_and_active,
     return_success_on_head_request
 )
+from zerver.lib.cache import ignore_unhashable_lru_cache
 from zerver.lib.validator import (
     check_string, check_dict, check_dict_only, check_bool, check_float, check_int, check_list, Validator,
     check_variable_type, equals, check_none_or, check_url, check_short_string
@@ -1285,3 +1286,52 @@ class TestUserAgentParsing(ZulipTestCase):
             user_agents_parsed[ret["name"]] += int(count)
 
         self.assertEqual(len(parse_errors), 0)
+
+class TestIgnoreUnhashableLRUCache(ZulipTestCase):
+    def test_cache_hit(self) -> None:
+        @ignore_unhashable_lru_cache()
+        def f(arg: Any) -> Any:
+            return arg
+
+        def get_cache_info() -> Tuple[int, int, int]:
+            info = getattr(f, 'cache_info')()
+            hits = getattr(info, 'hits')
+            misses = getattr(info, 'misses')
+            currsize = getattr(info, 'currsize')
+            return hits, misses, currsize
+
+        def clear_cache() -> None:
+            getattr(f, 'cache_clear')()
+
+        # Check hashable argument.
+        result = f(1)
+        hits, misses, currsize = get_cache_info()
+        # First one should be a miss.
+        self.assertEqual(hits, 0)
+        self.assertEqual(misses, 1)
+        self.assertEqual(currsize, 1)
+        self.assertEqual(result, 1)
+
+        result = f(1)
+        hits, misses, currsize = get_cache_info()
+        # Second one should be a hit.
+        self.assertEqual(hits, 1)
+        self.assertEqual(misses, 1)
+        self.assertEqual(currsize, 1)
+        self.assertEqual(result, 1)
+
+        # Check unhashable argument.
+        result = f([1])
+        hits, misses, currsize = get_cache_info()
+        # Cache should not be used.
+        self.assertEqual(hits, 1)
+        self.assertEqual(misses, 1)
+        self.assertEqual(currsize, 1)
+        self.assertEqual(result, [1])
+
+        # Clear cache.
+        clear_cache()
+        hits, misses, currsize = get_cache_info()
+        self.assertEqual(hits, 0)
+        self.assertEqual(misses, 0)
+        self.assertEqual(currsize, 0)