diff --git a/.gitignore b/.gitignore
index feb538de6b..093cbba81f 100644
--- a/.gitignore
+++ b/.gitignore
@@ -102,3 +102,6 @@ dpctl/tensor/_usmarray.h
 
 # moved cmake scripts
 dpctl/resources/cmake
+
+# asv artifacts
+*.asv*
diff --git a/benchmarks/README.md b/benchmarks/README.md
new file mode 100644
index 0000000000..513ad48ec9
--- /dev/null
+++ b/benchmarks/README.md
@@ -0,0 +1,22 @@
+# dpctl benchmarks
+
+Benchmarking dpctl using Airspeed Velocity
+Read more about ASV [here](https://asv.readthedocs.io/en/stable/index.html)
+
+## Usage
+The benchmarks were made with using an existing environment in-mind before execution. You will see the `asv.conf.json` is minimal without any environmental information supplied.
+The expectation is for users to execute `asv run` with an existing environment.
+
+As such, you should have conda or mamba installed, and create an environment [following these instructions](https://intelpython.github.io/dpctl/latest/beginners_guides/installation.html#dpctl-installation)
+Additionally, install `asv` and `libmambapy` to the environment.
+
+Then, you may activate the environment and instruct `asv run` to use this existing environment for the benchmarks by pointing it to the environment's python binary, like so:
+```
+conda activate dpctl_env
+asv run --environment existing:/full/mamba/path/envs/dpctl_env/bin/python
+```
+
+For `level_zero` devices, you might see `USM Allocation` errors unless you use the `asv run` command with `--launch-method spawn`
+
+## Writing new benchmarks
+Read ASV's guidelines for writing benchmarks [here](https://asv.readthedocs.io/en/stable/writing_benchmarks.html)
diff --git a/benchmarks/asv.conf.json b/benchmarks/asv.conf.json
new file mode 100644
index 0000000000..478dc518f9
--- /dev/null
+++ b/benchmarks/asv.conf.json
@@ -0,0 +1,53 @@
+{
+    // The version of the config file format.  Do not change, unless
+    // you know what you are doing.
+    "version": 1,
+
+    // The name of the project being benchmarked
+    "project": "dpctl",
+
+    // The project's homepage
+    "project_url": "https://github.com/IntelPython/dpctl",
+
+    // The URL or local path of the source code repository for the
+    // project being benchmarked
+    "repo": "..",
+
+    // Customizable commands for building the project.
+    // See asv.conf.json documentation.
+    "build_command": [],
+
+    // List of branches to benchmark. If not provided, defaults to "main"
+    // (for git) or "default" (for mercurial).
+    "branches": ["HEAD"],
+
+    // The DVCS being used.  If not set, it will be automatically
+    // determined from "repo" by looking at the protocol in the URL
+    // (if remote), or by looking for special directories, such as
+    // ".git" (if local).
+    "dvcs": "git",
+
+    // The tool to use to create environments.  May be "conda",
+    // "virtualenv", "mamba" (above 3.8)
+    // or other value depending on the plugins in use.
+    // If missing or the empty string, the tool will be automatically
+    // determined by looking for tools on the PATH environment
+    // variable.
+    "environment_type": "conda",
+
+    // The directory (relative to the current directory) that benchmarks are
+    // stored in.  If not provided, defaults to "benchmarks"
+    "benchmark_dir": "benchmarks",
+
+    // The directory (relative to the current directory) to cache the Python
+    // environments in.  If not provided, defaults to "env"
+    "env_dir": ".asv/env",
+
+    // The directory (relative to the current directory) that raw benchmark
+    // results are stored in.  If not provided, defaults to "results".
+    "results_dir": ".asv/results",
+
+    // The directory (relative to the current directory) that the html tree
+    // should be written to.  If not provided, defaults to "html".
+    "html_dir": ".asv/html"
+}
diff --git a/benchmarks/benchmarks/__init__.py b/benchmarks/benchmarks/__init__.py
new file mode 100644
index 0000000000..e69de29bb2
diff --git a/benchmarks/benchmarks/benchmark_utils.py b/benchmarks/benchmarks/benchmark_utils.py
new file mode 100644
index 0000000000..7d493d1cd6
--- /dev/null
+++ b/benchmarks/benchmarks/benchmark_utils.py
@@ -0,0 +1,17 @@
+from asv_runner.benchmarks.mark import SkipNotImplemented
+
+import dpctl.tensor as dpt
+
+
+def skip_unsupported_dtype(q, dtype):
+    """
+    Skip the benchmark if the device does not support the given data type.
+    """
+    if (
+        (dtype == dpt.float64 or dtype.name == dpt.complex128)
+        and not q.sycl_device.has_aspect_fp64
+    ) or (dtype == dpt.float16 and not q.sycl_device.has_aspect_fp16):
+        raise SkipNotImplemented(
+            f"Skipping benchmark for {dtype.name} on this device"
+            + " as it is not supported."
+        )
diff --git a/benchmarks/benchmarks/binary.py b/benchmarks/benchmarks/binary.py
new file mode 100644
index 0000000000..49d08d09d6
--- /dev/null
+++ b/benchmarks/benchmarks/binary.py
@@ -0,0 +1,133 @@
+import dpctl
+import dpctl.tensor as dpt
+
+from . import benchmark_utils as bench_utils
+
+SHARED_QUEUE = dpctl.SyclQueue(property="enable_profiling")
+
+
+class Binary:
+    """Benchmark class for binary operations on SYCL devices."""
+
+    timeout = 300.0
+
+    def setup(self):
+        """Setup the benchmark environment."""
+        self.q = SHARED_QUEUE
+        self.iterations = 1
+        self.n_values = 10**8
+
+    def run_bench(self, q, reps, n_max, dtype1, dtype2, op):
+        """Run the benchmark for a specific function and dtype combination."""
+
+        def get_sizes(n):
+            s = []
+            m = 8192
+            while m < n:
+                s.append(m)
+                m *= 2
+            s.append(n)
+            return s
+
+        x1 = dpt.ones(n_max, dtype=dtype1, sycl_queue=q)
+        x2 = dpt.ones(n_max, dtype=dtype2, sycl_queue=q)
+        r = op(x1, x2)
+
+        max_bytes = x1.nbytes + x2.nbytes + r.nbytes
+        times_res = []
+
+        for n in get_sizes(n_max):
+            x1_n = x1[:n]
+            x2_n = x2[:n]
+            r_n = r[:n]
+            n_bytes = x1_n.nbytes + x2_n.nbytes + r_n.nbytes
+
+            n_iters = int((max_bytes / n_bytes) * reps)
+
+            while True:
+                timer = dpctl.SyclTimer(
+                    device_timer="order_manager", time_scale=1e9
+                )
+                with timer(q):
+                    for _ in range(n_iters):
+                        op(x1_n, x2_n, out=r_n)
+
+                dev_dt = timer.dt.device_dt
+                if dev_dt > 0:
+                    times_res.append((n, dev_dt / n_iters))
+                    break
+
+        return times_res
+
+
+binary_instance = Binary()
+binary_instance.q = SHARED_QUEUE
+binary_instance.iterations = 1
+binary_instance.n_values = 10**8
+
+function_list = [
+    dpt.add,
+    dpt.multiply,
+    dpt.divide,
+    dpt.subtract,
+    dpt.floor_divide,
+    dpt.remainder,
+    dpt.hypot,
+    dpt.logaddexp,
+    dpt.pow,
+    dpt.atan2,
+    dpt.nextafter,
+    dpt.copysign,
+    dpt.less,
+    dpt.less_equal,
+    dpt.greater,
+    dpt.greater_equal,
+    dpt.equal,
+    dpt.not_equal,
+    dpt.minimum,
+    dpt.maximum,
+    dpt.bitwise_and,
+    dpt.bitwise_or,
+    dpt.bitwise_xor,
+    dpt.bitwise_left_shift,
+    dpt.bitwise_right_shift,
+    dpt.logical_and,
+    dpt.logical_or,
+    dpt.logical_xor,
+]
+
+# Generate dtype combinations for each function
+dtypes = {}
+for fn in function_list:
+    dtypes[fn] = [list(map(dpt.dtype, sig.split("->")[0])) for sig in fn.types]
+
+
+# Dynamically create benchmark methods at the module level
+def generate_benchmark_functions():
+    """Dynamically create benchmark functions for each
+    function and dtype combination.
+    """
+    for fn in function_list:
+        fn_name = fn.name_
+        for dtype1, dtype2 in dtypes[fn]:
+            # Create unique function names
+            method_name = f"time_{fn_name}_{dtype1.name}_{dtype2.name}"
+
+            def benchmark_method(self, fn=fn, dtype1=dtype1, dtype2=dtype2):
+                bench_utils.skip_unsupported_dtype(self.q, dtype1)
+                return self.run_bench(
+                    self.q,
+                    self.iterations,
+                    self.n_values,
+                    dtype1,
+                    dtype2,
+                    fn,
+                )
+
+            benchmark_method.__name__ = method_name
+            # Attach the new method to the Binary class
+            setattr(Binary, method_name, benchmark_method)
+
+
+# Generate the benchmark functions
+generate_benchmark_functions()
diff --git a/benchmarks/benchmarks/ef_bench_add.py b/benchmarks/benchmarks/ef_bench_add.py
new file mode 100644
index 0000000000..f17f8613d2
--- /dev/null
+++ b/benchmarks/benchmarks/ef_bench_add.py
@@ -0,0 +1,31 @@
+import dpctl
+import dpctl.tensor as dpt
+import dpctl.tensor._tensor_elementwise_impl as tei
+import dpctl.utils as dpu
+
+
+class EfBenchAdd:
+
+    def time_ef_bench_add(self):
+        q = dpctl.SyclQueue(property="enable_profiling")
+        n = 2**26
+        reps = 50
+
+        dt = dpt.int8
+        x1 = dpt.ones(n, dtype=dt, sycl_queue=q)
+        x2 = dpt.ones(n, dtype=dt, sycl_queue=q)
+
+        op1, op2 = dpt.add, tei._add
+
+        r = op1(x1, x2)
+
+        timer = dpctl.SyclTimer(device_timer="order_manager", time_scale=1e9)
+
+        m = dpu.SequentialOrderManager[q]
+        with timer(q):
+            for _ in range(reps):
+                deps = m.submitted_events
+                ht_e, c_e = op2(
+                    src1=x1, src2=x2, dst=r, sycl_queue=q, depends=deps
+                )
+                m.add_event_pair(ht_e, c_e)