diff --git a/lib/ansible/modules/cloud/amazon/ec2_elb_lb.py b/lib/ansible/modules/cloud/amazon/ec2_elb_lb.py
index 3d8c0d053fc..21432e45cb8 100644
--- a/lib/ansible/modules/cloud/amazon/ec2_elb_lb.py
+++ b/lib/ansible/modules/cloud/amazon/ec2_elb_lb.py
@@ -127,7 +127,7 @@ options:
       - An associative array of stickness policy settings. Policy will be applied to all listeners ( see example )
     required: false
     version_added: "2.0"
-  wait_for:
+  wait:
     description:
       - When specified, Ansible will check the status of the load balancer to ensure it has been successfully
         removed from AWS.
@@ -135,6 +135,13 @@ options:
     default: no
     choices: ["yes", "no"]
     version_added: 2.0
+  wait_timeout:
+    description:
+      - Used in conjunction with wait. Number of seconds to wait for the elb to be terminated.
+        A maximum of 600 seconds (10 minutes) is allowed.
+    required: false
+    default: 60
+    version_added: 2.0
 
 extends_documentation_fragment: aws
 """
@@ -208,12 +215,20 @@ EXAMPLES = """
     name: "test-please-delete"
     state: absent
 
-# Ensure ELB is gone and wait for check
+# Ensure ELB is gone and wait for check (for default timeout)
 - local_action:
     module: ec2_elb_lb
     name: "test-please-delete"
     state: absent
-    wait_for: yes
+    wait: yes
+
+# Ensure ELB is gone and wait for check with timeout value
+- local_action:
+    module: ec2_elb_lb
+    name: "test-please-delete"
+    state: absent
+    wait: yes
+    wait_timeout: 600
 
 # Normally, this module will purge any listeners that exist on the ELB
 # but aren't specified in the listeners parameter. If purge_listeners is
@@ -337,7 +352,7 @@ class ElbManager(object):
                  scheme="internet-facing", connection_draining_timeout=None,
                  idle_timeout=None,
                  cross_az_load_balancing=None, access_logs=None,
-                 stickiness=None, wait_for=None, region=None, **aws_connect_params):
+                 stickiness=None, wait=None, wait_timeout=None, region=None, **aws_connect_params):
 
         self.module = module
         self.name = name
@@ -355,7 +370,8 @@ class ElbManager(object):
         self.cross_az_load_balancing = cross_az_load_balancing
         self.access_logs = access_logs
         self.stickiness = stickiness
-        self.wait_for = wait_for
+        self.wait = wait
+        self.wait_timeout = wait_timeout
 
         self.aws_connect_params = aws_connect_params
         self.region = region
@@ -395,7 +411,7 @@ class ElbManager(object):
         """Destroy the ELB"""
         if self.elb:
             self._delete_elb()
-            if self.wait_for:
+            if self.wait:
                 elb_removed = self._wait_for_elb_removed()
                 # Unfortunately even though the ELB itself is removed quickly
                 # the interfaces take longer so reliant security groups cannot
@@ -504,8 +520,8 @@ class ElbManager(object):
         return info
 
     def _wait_for_elb_removed(self):
-        polling_increment_secs = 30
-        max_retries = 10
+        polling_increment_secs = 15
+        max_retries = (self.wait_timeout / polling_increment_secs)
         status_achieved = False
 
         for x in range(0, max_retries):
@@ -521,8 +537,8 @@ class ElbManager(object):
         return status_achieved
 
     def _wait_for_elb_interface_removed(self):
-        polling_increment_secs = 30
-        max_retries = 10
+        polling_increment_secs = 15
+        max_retries = (self.wait_timeout / polling_increment_secs)
         status_achieved = False
 
         elb_interfaces = self.ec2_conn.get_all_network_interfaces(
@@ -970,7 +986,8 @@ def main():
             cross_az_load_balancing={'default': None, 'required': False},
             stickiness={'default': None, 'required': False, 'type': 'dict'},
             access_logs={'default': None, 'required': False, 'type': 'dict'},
-            wait_for={'default': False, 'type': 'bool', 'required': False}
+            wait={'default': False, 'type': 'bool', 'required': False},
+            wait_timeout={'default': 60, 'type': 'int', 'required': False}
         )
     )
 
@@ -1003,7 +1020,8 @@ def main():
     idle_timeout = module.params['idle_timeout']
     cross_az_load_balancing = module.params['cross_az_load_balancing']
     stickiness = module.params['stickiness']
-    wait_for = module.params['wait_for']
+    wait = module.params['wait']
+    wait_timeout = module.params['wait_timeout']
 
     if state == 'present' and not listeners:
         module.fail_json(msg="At least one port is required for ELB creation")
@@ -1011,6 +1029,9 @@ def main():
     if state == 'present' and not (zones or subnets):
         module.fail_json(msg="At least one availability zone or subnet is required for ELB creation")
 
+    if wait_timeout > 600:
+        module.fail_json(msg='wait_timeout maximum is 600 seconds')
+
     if security_group_names:
         security_group_ids = []
         try:
@@ -1031,7 +1052,7 @@ def main():
                          subnets, purge_subnets, scheme,
                          connection_draining_timeout, idle_timeout,
                          cross_az_load_balancing,
-                         access_logs, stickiness, wait_for,
+                         access_logs, stickiness, wait, wait_timeout,
                          region=region, **aws_connect_params)
 
     # check for unsupported attributes for this version of boto