diff --git a/src/rpc/client.cpp b/src/rpc/client.cpp
--- a/src/rpc/client.cpp
+++ b/src/rpc/client.cpp
@@ -79,6 +79,7 @@
     {"getblockheader", 1, "verbose"},
     {"getchaintxstats", 0, "nblocks"},
     {"gettransaction", 1, "include_watchonly"},
+    {"gettransaction", 2, "decode"},
     {"getrawtransaction", 1, "verbose"},
     {"createrawtransaction", 0, "inputs"},
     {"createrawtransaction", 1, "outputs"},
diff --git a/src/wallet/rpcwallet.cpp b/src/wallet/rpcwallet.cpp
--- a/src/wallet/rpcwallet.cpp
+++ b/src/wallet/rpcwallet.cpp
@@ -1929,6 +1929,8 @@
              /* default */ "true for watch-only wallets, otherwise false",
              "Whether to include watch-only addresses in balance calculation "
              "and details[]"},
+            {"decode", RPCArg::Type::BOOL, /* default */ "false",
+             "Whether to add a field with the decoded transaction"},
         },
         RPCResult{
             "{\n"
@@ -1990,6 +1992,8 @@
             "    ,...\n"
             "  ],\n"
             "  \"hex\" : \"data\"         (string) Raw data for transaction\n"
+            "  \"decoded\" : transaction         (json object) Optional, the "
+            "decoded transaction\n"
             "}\n"},
         RPCExamples{HelpExampleCli("gettransaction",
                                    "\"1075db55d416d3ca199f55b6084e2115b9345e16c"
@@ -1997,6 +2001,9 @@
                     HelpExampleCli("gettransaction",
                                    "\"1075db55d416d3ca199f55b6084e2115b9345e16c"
                                    "5cf302fc80e9d5fbf5d48d\" true") +
+                    HelpExampleCli("gettransaction",
+                                   "\"1075db55d416d3ca199f55b6084e2115b9345e16c"
+                                   "5cf302fc80e9d5fbf5d48d\" false true") +
                     HelpExampleRpc("gettransaction",
                                    "\"1075db55d416d3ca199f55b6084e2115b9345e16c"
                                    "5cf302fc80e9d5fbf5d48d\"")},
@@ -2017,6 +2024,9 @@
         filter |= ISMINE_WATCH_ONLY;
     }
 
+    bool decode_tx =
+        request.params[2].isNull() ? false : request.params[2].get_bool();
+
     UniValue entry(UniValue::VOBJ);
     auto it = pwallet->mapWallet.find(txid);
     if (it == pwallet->mapWallet.end()) {
@@ -2047,6 +2057,12 @@
         EncodeHexTx(*wtx.tx, pwallet->chain().rpcSerializationFlags());
     entry.pushKV("hex", strHex);
 
+    if (decode_tx) {
+        UniValue decoded(UniValue::VOBJ);
+        TxToUniv(*wtx.tx, uint256(), decoded, false);
+        entry.pushKV("decoded", decoded);
+    }
+
     return entry;
 }
 
@@ -4735,7 +4751,7 @@
     { "wallet",             "getrawchangeaddress",          getrawchangeaddress,          {"address_type"} },
     { "wallet",             "getreceivedbyaddress",         getreceivedbyaddress,         {"address","minconf"} },
     { "wallet",             "getreceivedbylabel",           getreceivedbylabel,           {"label","minconf"} },
-    { "wallet",             "gettransaction",               gettransaction,               {"txid","include_watchonly"} },
+    { "wallet",             "gettransaction",               gettransaction,               {"txid","include_watchonly","decode"} },
     { "wallet",             "getunconfirmedbalance",        getunconfirmedbalance,        {} },
     { "wallet",             "getbalances",                  getbalances,                  {} },
     { "wallet",             "getwalletinfo",                getwalletinfo,                {} },