diff --git a/_pytest/runner.py b/_pytest/runner.py
index 6792387db82..8b7b1d08224 100644
--- a/_pytest/runner.py
+++ b/_pytest/runner.py
@@ -294,6 +294,7 @@ def pytest_runtest_makereport(item, call):
     duration = call.stop - call.start
     keywords = dict([(x, 1) for x in item.keywords])
     excinfo = call.excinfo
+    exception = None
     sections = []
     if not call.excinfo:
         outcome = "passed"
@@ -308,6 +309,7 @@ def pytest_runtest_makereport(item, call):
             longrepr = (str(r.path), r.lineno, r.message)
         else:
             outcome = "failed"
+            exception = excinfo.value
             if call.when == "call":
                 longrepr = item.repr_failure(excinfo)
             else:  # exception in setup or teardown
@@ -317,7 +319,7 @@ def pytest_runtest_makereport(item, call):
         sections.append(("Captured %s %s" % (key, rwhen), content))
     return TestReport(item.nodeid, item.location,
                       keywords, outcome, longrepr, when,
-                      sections, duration, user_properties=item.user_properties)
+                      sections, duration, exception=exception, user_properties=item.user_properties)
 
 
 class TestReport(BaseReport):
@@ -326,7 +328,7 @@ class TestReport(BaseReport):
     """
 
     def __init__(self, nodeid, location, keywords, outcome,
-                 longrepr, when, sections=(), duration=0, user_properties=(), **extra):
+                 longrepr, when, sections=(), duration=0, user_properties=(), exception=None, **extra):
         #: normalized collection node id
         self.nodeid = nodeid
 
@@ -345,6 +347,9 @@ def __init__(self, nodeid, location, keywords, outcome,
         #: None or a failure representation.
         self.longrepr = longrepr
 
+        #: None or the exception which caused the failure
+        self.exception = exception
+
         #: one of 'setup', 'call', 'teardown' to indicate runtest phase.
         self.when = when
 
diff --git a/changelog/3343.feature.rst b/changelog/3343.feature.rst
new file mode 100644
index 00000000000..4dfa12c13d4
--- /dev/null
+++ b/changelog/3343.feature.rst
@@ -0,0 +1 @@
+Added the exception object to the ``TestReport``, for reference in hook functions.
\ No newline at end of file
diff --git a/testing/test_runner.py b/testing/test_runner.py
index a3bd8ecb44f..1a747f33bd9 100644
--- a/testing/test_runner.py
+++ b/testing/test_runner.py
@@ -825,3 +825,61 @@ def test_func():
         rep = reports[1]
         assert rep.capstdout == ''
         assert rep.capstderr == ''
+
+    def test_exception(self, testdir):
+        reports = testdir.runitem("""
+            def test_func():
+                x = 1
+                assert x == 4
+        """)
+        rep = reports[1]
+        assert rep.failed
+        assert rep.when == "call"
+        assert isinstance(rep.exception, AssertionError)
+        assert str(rep.exception) == 'assert 1 == 4'
+
+    def test_setup_exception(self, testdir):
+        reports = testdir.runitem("""
+            import pytest
+
+            @pytest.fixture
+            def fix():
+                assert False
+                yield
+
+            def test_func(fix):
+                pass
+        """)
+        rep = reports[0]
+        assert rep.failed
+        assert rep.when == "setup"
+        assert isinstance(rep.exception, AssertionError)
+        assert str(rep.exception) == 'assert False'
+
+    def test_teardown_exception(self, testdir):
+        reports = testdir.runitem("""
+            import pytest
+
+            @pytest.fixture
+            def fix():
+                yield
+                assert False
+
+            def test_func(fix):
+                pass
+        """)
+        rep = reports[2]
+        assert rep.failed
+        assert rep.when == "teardown"
+        assert isinstance(rep.exception, AssertionError)
+        assert str(rep.exception) == 'assert False'
+
+    def test_no_exception(self, testdir):
+        reports = testdir.runitem("""
+            def test_func():
+                x = 1
+                assert x == 1
+        """)
+        rep = reports[1]
+        assert not rep.failed
+        assert rep.exception is None