diff --git a/llvm/lib/Transforms/InstCombine/InstCombineVectorOps.cpp b/llvm/lib/Transforms/InstCombine/InstCombineVectorOps.cpp
--- a/llvm/lib/Transforms/InstCombine/InstCombineVectorOps.cpp
+++ b/llvm/lib/Transforms/InstCombine/InstCombineVectorOps.cpp
@@ -347,6 +347,18 @@
     ElementCount EC = EI.getVectorOperandType()->getElementCount();
     unsigned NumElts = EC.getKnownMinValue();
 
+    if (IntrinsicInst *II = dyn_cast<IntrinsicInst>(SrcVec)) {
+      Intrinsic::ID IID = II->getIntrinsicID();
+      // Index needs to be lower than the minimum size of the vector, because
+      // for scalable vector, the vector size is known at run time.
+      if (IID == Intrinsic::experimental_stepvector &&
+          IndexC->getValue().ult(NumElts)) {
+        Type *Ty = EI.getType();
+        auto *Idx = ConstantInt::get(
+            Ty, IndexC->getValue().zextOrTrunc(Ty->getIntegerBitWidth()));
+        return replaceInstUsesWith(EI, Idx);
+      }
+    }
     // InstSimplify should handle cases where the index is invalid.
     // For fixed-length vector, it's invalid to extract out-of-range element.
     if (!EC.isScalable() && IndexC->getValue().uge(NumElts))
diff --git a/llvm/test/Transforms/InstCombine/vscale_extractelement.ll b/llvm/test/Transforms/InstCombine/vscale_extractelement.ll
--- a/llvm/test/Transforms/InstCombine/vscale_extractelement.ll
+++ b/llvm/test/Transforms/InstCombine/vscale_extractelement.ll
@@ -183,3 +183,69 @@
   %E = extractelement <vscale x 4 x i32> %vec_int, i32 2147483647
   ret i32 %E
 }
+
+; Step vector optimization
+
+define i64 @ext_lane0_from_stepvec() {
+; CHECK-LABEL: @ext_lane0_from_stepvec(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    ret i64 0
+;
+entry:
+  %0 = call <vscale x 4 x i64> @llvm.experimental.stepvector.nxv4i64()
+  %1 = extractelement <vscale x 4 x i64> %0, i32 0
+  ret i64 %1
+}
+
+define i32 @ext_lane3_from_stepvec() {
+; CHECK-LABEL: @ext_lane3_from_stepvec(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    ret i32 3
+;
+entry:
+  %0 = call <vscale x 4 x i32> @llvm.experimental.stepvector.nxv4i32()
+  %1 = extractelement <vscale x 4 x i32> %0, i64 3
+  ret i32 %1
+}
+
+define i64 @ext_lane_out_of_range_from_stepvec() {
+; CHECK-LABEL: @ext_lane_out_of_range_from_stepvec(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    [[TMP0:%.*]] = call <vscale x 4 x i64> @llvm.experimental.stepvector.nxv4i64()
+; CHECK-NEXT:    [[TMP1:%.*]] = extractelement <vscale x 4 x i64> [[TMP0]], i32 5
+; CHECK-NEXT:    ret i64 [[TMP1]]
+;
+entry:
+  %0 = call <vscale x 4 x i64> @llvm.experimental.stepvector.nxv4i64()
+  %1 = extractelement <vscale x 4 x i64> %0, i32 5
+  ret i64 %1
+}
+
+define i64 @ext_lane_invalid_from_stepvec() {
+; CHECK-LABEL: @ext_lane_invalid_from_stepvec(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    [[TMP0:%.*]] = call <vscale x 4 x i64> @llvm.experimental.stepvector.nxv4i64()
+; CHECK-NEXT:    [[TMP1:%.*]] = extractelement <vscale x 4 x i64> [[TMP0]], i32 -1
+; CHECK-NEXT:    ret i64 [[TMP1]]
+;
+entry:
+  %0 = call <vscale x 4 x i64> @llvm.experimental.stepvector.nxv4i64()
+  %1 = extractelement <vscale x 4 x i64> %0, i32 -1
+  ret i64 %1
+}
+
+define i64 @ext_lane_unknown_from_stepvec(i32 %v) {
+; CHECK-LABEL: @ext_lane_unknown_from_stepvec(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    [[TMP0:%.*]] = call <vscale x 4 x i64> @llvm.experimental.stepvector.nxv4i64()
+; CHECK-NEXT:    [[TMP1:%.*]] = extractelement <vscale x 4 x i64> [[TMP0]], i32 [[V:%.*]]
+; CHECK-NEXT:    ret i64 [[TMP1]]
+;
+entry:
+  %0 = call <vscale x 4 x i64> @llvm.experimental.stepvector.nxv4i64()
+  %1 = extractelement <vscale x 4 x i64> %0, i32 %v
+  ret i64 %1
+}
+
+declare <vscale x 4 x i64> @llvm.experimental.stepvector.nxv4i64();
+declare <vscale x 4 x i32> @llvm.experimental.stepvector.nxv4i32();