diff --git a/src/cares_wrap.cc b/src/cares_wrap.cc
index 3aab61e1b360fc..492e151832ea32 100644
--- a/src/cares_wrap.cc
+++ b/src/cares_wrap.cc
@@ -174,8 +174,7 @@ static void ares_poll_close_cb(uv_handle_t* watcher) {
 
 /* Allocates and returns a new node_ares_task */
 static node_ares_task* ares_task_create(Environment* env, ares_socket_t sock) {
-  node_ares_task* task =
-    static_cast<node_ares_task*>(node::Malloc(sizeof(*task)));
+  auto task = node::UncheckedMalloc<node_ares_task>(1);
 
   if (task == nullptr) {
     /* Out of memory. */
diff --git a/src/node.cc b/src/node.cc
index be0c42b19f7b39..5ced5a3db62461 100644
--- a/src/node.cc
+++ b/src/node.cc
@@ -183,6 +183,8 @@ bool trace_warnings = false;
 // that is used by lib/module.js
 bool config_preserve_symlinks = false;
 
+bool v8_initialized = false;
+
 // process-relative uptime base, initialized at start-up
 static double prog_start_time;
 static bool debugger_running;
@@ -979,9 +981,9 @@ Local<Value> WinapiErrnoException(Isolate* isolate,
 
 void* ArrayBufferAllocator::Allocate(size_t size) {
   if (zero_fill_field_ || zero_fill_all_buffers)
-    return node::Calloc(size, 1);
+    return node::UncheckedCalloc(size);
   else
-    return node::Malloc(size);
+    return node::UncheckedMalloc(size);
 }
 
 static bool DomainHasErrorHandler(const Environment* env,
@@ -4490,6 +4492,7 @@ int Start(int argc, char** argv) {
 
   v8_platform.Initialize(v8_thread_pool_size);
   V8::Initialize();
+  v8_initialized = true;
 
   int exit_code = 1;
   {
@@ -4503,6 +4506,7 @@ int Start(int argc, char** argv) {
     StartNodeInstance(&instance_data);
     exit_code = instance_data.exit_code();
   }
+  v8_initialized = false;
   V8::Dispose();
 
   v8_platform.Dispose();
diff --git a/src/node_buffer.cc b/src/node_buffer.cc
index 55004a36b7bfc8..467a6e88474b39 100644
--- a/src/node_buffer.cc
+++ b/src/node_buffer.cc
@@ -49,9 +49,6 @@
   THROW_AND_RETURN_IF_OOB(end <= end_max);                                  \
   size_t length = end - start;
 
-#define BUFFER_MALLOC(length)                                               \
-  zero_fill_all_buffers ? node::Calloc(length, 1) : node::Malloc(length)
-
 #if defined(__GNUC__) || defined(__clang__)
 #define BSWAP_INTRINSIC_2(x) __builtin_bswap16(x)
 #define BSWAP_INTRINSIC_4(x) __builtin_bswap32(x)
@@ -89,6 +86,15 @@ namespace node {
 // if true, all Buffer and SlowBuffer instances will automatically zero-fill
 bool zero_fill_all_buffers = false;
 
+namespace {
+
+inline void* BufferMalloc(size_t length) {
+  return zero_fill_all_buffers ? node::UncheckedCalloc(length) :
+                                 node::UncheckedMalloc(length);
+}
+
+}  // namespace
+
 namespace Buffer {
 
 using v8::ArrayBuffer;
@@ -266,7 +272,7 @@ MaybeLocal<Object> New(Isolate* isolate,
   char* data = nullptr;
 
   if (length > 0) {
-    data = static_cast<char*>(BUFFER_MALLOC(length));
+    data = static_cast<char*>(BufferMalloc(length));
 
     if (data == nullptr)
       return Local<Object>();
@@ -278,8 +284,7 @@ MaybeLocal<Object> New(Isolate* isolate,
       free(data);
       data = nullptr;
     } else if (actual < length) {
-      data = static_cast<char*>(node::Realloc(data, actual));
-      CHECK_NE(data, nullptr);
+      data = node::Realloc(data, actual);
     }
   }
 
@@ -312,7 +317,7 @@ MaybeLocal<Object> New(Environment* env, size_t length) {
 
   void* data;
   if (length > 0) {
-    data = BUFFER_MALLOC(length);
+    data = BufferMalloc(length);
     if (data == nullptr)
       return Local<Object>();
   } else {
@@ -357,7 +362,7 @@ MaybeLocal<Object> Copy(Environment* env, const char* data, size_t length) {
   void* new_data;
   if (length > 0) {
     CHECK_NE(data, nullptr);
-    new_data = node::Malloc(length);
+    new_data = node::UncheckedMalloc(length);
     if (new_data == nullptr)
       return Local<Object>();
     memcpy(new_data, data, length);
@@ -1080,7 +1085,7 @@ void IndexOfString(const FunctionCallbackInfo<Value>& args) {
                           offset,
                           is_forward);
   } else if (enc == LATIN1) {
-    uint8_t* needle_data = static_cast<uint8_t*>(node::Malloc(needle_length));
+    uint8_t* needle_data = node::UncheckedMalloc<uint8_t>(needle_length);
     if (needle_data == nullptr) {
       return args.GetReturnValue().Set(-1);
     }
diff --git a/src/node_crypto.cc b/src/node_crypto.cc
index 7997d2113b4493..7ad6eceeecc0f7 100644
--- a/src/node_crypto.cc
+++ b/src/node_crypto.cc
@@ -2279,8 +2279,7 @@ int SSLWrap<Base>::TLSExtStatusCallback(SSL* s, void* arg) {
     size_t len = Buffer::Length(obj);
 
     // OpenSSL takes control of the pointer after accepting it
-    char* data = reinterpret_cast<char*>(node::Malloc(len));
-    CHECK_NE(data, nullptr);
+    char* data = node::Malloc(len);
     memcpy(data, resp, len);
 
     if (!SSL_set_tlsext_status_ocsp_resp(s, data, len))
@@ -3330,8 +3329,7 @@ bool CipherBase::GetAuthTag(char** out, unsigned int* out_len) const {
   if (initialised_ || kind_ != kCipher || !auth_tag_)
     return false;
   *out_len = auth_tag_len_;
-  *out = static_cast<char*>(node::Malloc(auth_tag_len_));
-  CHECK_NE(*out, nullptr);
+  *out = node::Malloc(auth_tag_len_);
   memcpy(*out, auth_tag_, auth_tag_len_);
   return true;
 }
@@ -4906,8 +4904,7 @@ void ECDH::ComputeSecret(const FunctionCallbackInfo<Value>& args) {
   // NOTE: field_size is in bits
   int field_size = EC_GROUP_get_degree(ecdh->group_);
   size_t out_len = (field_size + 7) / 8;
-  char* out = static_cast<char*>(node::Malloc(out_len));
-  CHECK_NE(out, nullptr);
+  char* out = node::Malloc(out_len);
 
   int r = ECDH_compute_key(out, out_len, pub, ecdh->key_, nullptr);
   EC_POINT_free(pub);
@@ -4942,8 +4939,7 @@ void ECDH::GetPublicKey(const FunctionCallbackInfo<Value>& args) {
   if (size == 0)
     return env->ThrowError("Failed to get public key length");
 
-  unsigned char* out = static_cast<unsigned char*>(node::Malloc(size));
-  CHECK_NE(out, nullptr);
+  unsigned char* out = node::Malloc<unsigned char>(size);
 
   int r = EC_POINT_point2oct(ecdh->group_, pub, form, out, size, nullptr);
   if (r != size) {
@@ -4968,8 +4964,7 @@ void ECDH::GetPrivateKey(const FunctionCallbackInfo<Value>& args) {
     return env->ThrowError("Failed to get ECDH private key");
 
   int size = BN_num_bytes(b);
-  unsigned char* out = static_cast<unsigned char*>(node::Malloc(size));
-  CHECK_NE(out, nullptr);
+  unsigned char* out = node::Malloc<unsigned char>(size);
 
   if (size != BN_bn2bin(b, out)) {
     free(out);
@@ -5099,10 +5094,8 @@ class PBKDF2Request : public AsyncWrap {
         saltlen_(saltlen),
         salt_(salt),
         keylen_(keylen),
-        key_(static_cast<char*>(node::Malloc(keylen))),
+        key_(node::Malloc(keylen)),
         iter_(iter) {
-    if (key() == nullptr)
-      FatalError("node::PBKDF2Request()", "Out of Memory");
     Wrap(object, this);
   }
 
@@ -5262,10 +5255,7 @@ void PBKDF2(const FunctionCallbackInfo<Value>& args) {
 
   THROW_AND_RETURN_IF_NOT_BUFFER(args[1], "Salt");
 
-  pass = static_cast<char*>(node::Malloc(passlen));
-  if (pass == nullptr) {
-    FatalError("node::PBKDF2()", "Out of Memory");
-  }
+  pass = node::Malloc(passlen);
   memcpy(pass, Buffer::Data(args[0]), passlen);
 
   saltlen = Buffer::Length(args[1]);
@@ -5274,10 +5264,7 @@ void PBKDF2(const FunctionCallbackInfo<Value>& args) {
     goto err;
   }
 
-  salt = static_cast<char*>(node::Malloc(saltlen));
-  if (salt == nullptr) {
-    FatalError("node::PBKDF2()", "Out of Memory");
-  }
+  salt = node::Malloc(saltlen);
   memcpy(salt, Buffer::Data(args[1]), saltlen);
 
   if (!args[2]->IsNumber()) {
@@ -5367,9 +5354,7 @@ class RandomBytesRequest : public AsyncWrap {
       : AsyncWrap(env, object, AsyncWrap::PROVIDER_CRYPTO),
         error_(0),
         size_(size),
-        data_(static_cast<char*>(node::Malloc(size))) {
-    if (data() == nullptr)
-      FatalError("node::RandomBytesRequest()", "Out of Memory");
+        data_(node::Malloc(size)) {
     Wrap(object, this);
   }
 
@@ -5592,13 +5577,9 @@ void GetCurves(const FunctionCallbackInfo<Value>& args) {
   const size_t num_curves = EC_get_builtin_curves(nullptr, 0);
   Local<Array> arr = Array::New(env->isolate(), num_curves);
   EC_builtin_curve* curves;
-  size_t alloc_size;
 
   if (num_curves) {
-    alloc_size = sizeof(*curves) * num_curves;
-    curves = static_cast<EC_builtin_curve*>(node::Malloc(alloc_size));
-
-    CHECK_NE(curves, nullptr);
+    curves = node::Malloc<EC_builtin_curve>(num_curves);
 
     if (EC_get_builtin_curves(curves, num_curves)) {
       for (size_t i = 0; i < num_curves; i++) {
diff --git a/src/node_internals.h b/src/node_internals.h
index 8af4adb053a4f7..72888ef36d519e 100644
--- a/src/node_internals.h
+++ b/src/node_internals.h
@@ -37,6 +37,9 @@ namespace node {
 // that is used by lib/module.js
 extern bool config_preserve_symlinks;
 
+// Tells whether it is safe to call v8::Isolate::GetCurrent().
+extern bool v8_initialized;
+
 // Forward declaration
 class Environment;
 
@@ -160,7 +163,7 @@ class ArrayBufferAllocator : public v8::ArrayBuffer::Allocator {
 
   virtual void* Allocate(size_t size);  // Defined in src/node.cc
   virtual void* AllocateUninitialized(size_t size)
-    { return node::Malloc(size); }
+    { return node::UncheckedMalloc(size); }
   virtual void Free(void* data, size_t) { free(data); }
 
  private:
diff --git a/src/stream_wrap.cc b/src/stream_wrap.cc
index d294b641ffa444..ac656505503b22 100644
--- a/src/stream_wrap.cc
+++ b/src/stream_wrap.cc
@@ -148,14 +148,8 @@ void StreamWrap::OnAlloc(uv_handle_t* handle,
 
 
 void StreamWrap::OnAllocImpl(size_t size, uv_buf_t* buf, void* ctx) {
-  buf->base = static_cast<char*>(node::Malloc(size));
+  buf->base = node::Malloc(size);
   buf->len = size;
-
-  if (buf->base == nullptr && size > 0) {
-    FatalError(
-        "node::StreamWrap::DoAlloc(size_t, uv_buf_t*, void*)",
-        "Out Of Memory");
-  }
 }
 
 
@@ -204,8 +198,8 @@ void StreamWrap::OnReadImpl(ssize_t nread,
     return;
   }
 
-  char* base = static_cast<char*>(node::Realloc(buf->base, nread));
   CHECK_LE(static_cast<size_t>(nread), buf->len);
+  char* base = node::Realloc(buf->base, nread);
 
   if (pending == UV_TCP) {
     pending_obj = AcceptHandle<TCPWrap, uv_tcp_t>(env, wrap);
diff --git a/src/string_bytes.cc b/src/string_bytes.cc
index fa641af7469d07..d9e8b97114e2cd 100644
--- a/src/string_bytes.cc
+++ b/src/string_bytes.cc
@@ -53,8 +53,7 @@ class ExternString: public ResourceType {
     if (length == 0)
       return scope.Escape(String::Empty(isolate));
 
-    TypeName* new_data =
-        static_cast<TypeName*>(node::Malloc(length * sizeof(*new_data)));
+    TypeName* new_data = node::UncheckedMalloc<TypeName>(length);
     if (new_data == nullptr) {
       return Local<String>();
     }
@@ -624,7 +623,7 @@ Local<Value> StringBytes::Encode(Isolate* isolate,
 
     case ASCII:
       if (contains_non_ascii(buf, buflen)) {
-        char* out = static_cast<char*>(node::Malloc(buflen));
+        char* out = node::UncheckedMalloc(buflen);
         if (out == nullptr) {
           return Local<String>();
         }
@@ -659,7 +658,7 @@ Local<Value> StringBytes::Encode(Isolate* isolate,
 
     case BASE64: {
       size_t dlen = base64_encoded_size(buflen);
-      char* dst = static_cast<char*>(node::Malloc(dlen));
+      char* dst = node::UncheckedMalloc(dlen);
       if (dst == nullptr) {
         return Local<String>();
       }
@@ -678,7 +677,7 @@ Local<Value> StringBytes::Encode(Isolate* isolate,
 
     case HEX: {
       size_t dlen = buflen * 2;
-      char* dst = static_cast<char*>(node::Malloc(dlen));
+      char* dst = node::UncheckedMalloc(dlen);
       if (dst == nullptr) {
         return Local<String>();
       }
diff --git a/src/tls_wrap.cc b/src/tls_wrap.cc
index d1b1aeccdd95b0..d56128fec6c5ce 100644
--- a/src/tls_wrap.cc
+++ b/src/tls_wrap.cc
@@ -661,8 +661,7 @@ void TLSWrap::OnReadImpl(ssize_t nread,
 
 
 void TLSWrap::OnAllocSelf(size_t suggested_size, uv_buf_t* buf, void* ctx) {
-  buf->base = static_cast<char*>(node::Malloc(suggested_size));
-  CHECK_NE(buf->base, nullptr);
+  buf->base = node::Malloc(suggested_size);
   buf->len = suggested_size;
 }
 
diff --git a/src/udp_wrap.cc b/src/udp_wrap.cc
index c8009a5276e228..30113b7a8e3201 100644
--- a/src/udp_wrap.cc
+++ b/src/udp_wrap.cc
@@ -374,13 +374,8 @@ void UDPWrap::OnSend(uv_udp_send_t* req, int status) {
 void UDPWrap::OnAlloc(uv_handle_t* handle,
                       size_t suggested_size,
                       uv_buf_t* buf) {
-  buf->base = static_cast<char*>(node::Malloc(suggested_size));
+  buf->base = node::Malloc(suggested_size);
   buf->len = suggested_size;
-
-  if (buf->base == nullptr && suggested_size > 0) {
-    FatalError("node::UDPWrap::OnAlloc(uv_handle_t*, size_t, uv_buf_t*)",
-               "Out Of Memory");
-  }
 }
 
 
@@ -416,7 +411,7 @@ void UDPWrap::OnRecv(uv_udp_t* handle,
     return;
   }
 
-  char* base = static_cast<char*>(node::Realloc(buf->base, nread));
+  char* base = node::UncheckedRealloc(buf->base, nread);
   argv[2] = Buffer::New(env, base, nread).ToLocalChecked();
   argv[3] = AddressToJS(env, addr);
   wrap->MakeCallback(env->onmessage_string(), arraysize(argv), argv);
diff --git a/src/util-inl.h b/src/util-inl.h
index 9357f675021367..51adb816926e52 100644
--- a/src/util-inl.h
+++ b/src/util-inl.h
@@ -229,6 +229,14 @@ bool StringEqualNoCaseN(const char* a, const char* b, size_t length) {
   return true;
 }
 
+inline size_t MultiplyWithOverflowCheck(size_t a, size_t b) {
+  size_t ret = a * b;
+  if (a != 0)
+    CHECK_EQ(b, ret / a);
+
+  return ret;
+}
+
 // These should be used in our code as opposed to the native
 // versions as they abstract out some platform and or
 // compiler version specific functionality.
@@ -236,25 +244,59 @@ bool StringEqualNoCaseN(const char* a, const char* b, size_t length) {
 // that the standard allows them to either return a unique pointer or a
 // nullptr for zero-sized allocation requests.  Normalize by always using
 // a nullptr.
-void* Realloc(void* pointer, size_t size) {
-  if (size == 0) {
+template <typename T>
+T* UncheckedRealloc(T* pointer, size_t n) {
+  size_t full_size = MultiplyWithOverflowCheck(sizeof(T), n);
+
+  if (full_size == 0) {
     free(pointer);
     return nullptr;
   }
-  return realloc(pointer, size);
+
+  void* allocated = realloc(pointer, full_size);
+
+  if (UNLIKELY(allocated == nullptr)) {
+    // Tell V8 that memory is low and retry.
+    LowMemoryNotification();
+    allocated = realloc(pointer, full_size);
+  }
+
+  return static_cast<T*>(allocated);
 }
 
 // As per spec realloc behaves like malloc if passed nullptr.
-void* Malloc(size_t size) {
-  if (size == 0) size = 1;
-  return Realloc(nullptr, size);
+template <typename T>
+T* UncheckedMalloc(size_t n) {
+  if (n == 0) n = 1;
+  return UncheckedRealloc<T>(nullptr, n);
 }
 
-void* Calloc(size_t n, size_t size) {
+template <typename T>
+T* UncheckedCalloc(size_t n) {
   if (n == 0) n = 1;
-  if (size == 0) size = 1;
-  CHECK_GE(n * size, n);  // Overflow guard.
-  return calloc(n, size);
+  MultiplyWithOverflowCheck(sizeof(T), n);
+  return static_cast<T*>(calloc(n, sizeof(T)));
+}
+
+template <typename T>
+T* Realloc(T* pointer, size_t n) {
+  T* ret = UncheckedRealloc(pointer, n);
+  if (n > 0) CHECK_NE(ret, nullptr);
+  return ret;
+}
+
+template <typename T>
+T* Malloc(size_t n) {
+  T* ret = UncheckedMalloc<T>(n);
+  if (n > 0) CHECK_NE(ret, nullptr);
+  return ret;
+}
+
+template <typename T>
+T* Calloc(size_t n) {
+  T* ret = UncheckedCalloc<T>(n);
+  if (n > 0) CHECK_NE(ret, nullptr);
+  return ret;
 }
 
 }  // namespace node
diff --git a/src/util.cc b/src/util.cc
index 7ce99d5c76aa93..9fb5c3fd2855d3 100644
--- a/src/util.cc
+++ b/src/util.cc
@@ -1,6 +1,7 @@
 #include "util.h"
 #include "string_bytes.h"
 #include "node_buffer.h"
+#include "node_internals.h"
 #include <stdio.h>
 
 namespace node {
@@ -76,4 +77,13 @@ BufferValue::BufferValue(Isolate* isolate, Local<Value> value) {
   }
 }
 
+void LowMemoryNotification() {
+  if (v8_initialized) {
+    auto isolate = v8::Isolate::GetCurrent();
+    if (isolate != nullptr) {
+      isolate->LowMemoryNotification();
+    }
+  }
+}
+
 }  // namespace node
diff --git a/src/util.h b/src/util.h
index eb99bb74e5d0de..25f2eb01783144 100644
--- a/src/util.h
+++ b/src/util.h
@@ -22,9 +22,32 @@ namespace node {
 // that the standard allows them to either return a unique pointer or a
 // nullptr for zero-sized allocation requests.  Normalize by always using
 // a nullptr.
-inline void* Realloc(void* pointer, size_t size);
-inline void* Malloc(size_t size);
-inline void* Calloc(size_t n, size_t size);
+template <typename T>
+inline T* UncheckedRealloc(T* pointer, size_t n);
+template <typename T>
+inline T* UncheckedMalloc(size_t n);
+template <typename T>
+inline T* UncheckedCalloc(size_t n);
+
+// Same things, but aborts immediately instead of returning nullptr when
+// no memory is available.
+template <typename T>
+inline T* Realloc(T* pointer, size_t n);
+template <typename T>
+inline T* Malloc(size_t n);
+template <typename T>
+inline T* Calloc(size_t n);
+
+// Shortcuts for char*.
+inline char* Malloc(size_t n) { return Malloc<char>(n); }
+inline char* Calloc(size_t n) { return Calloc<char>(n); }
+inline char* UncheckedMalloc(size_t n) { return UncheckedMalloc<char>(n); }
+inline char* UncheckedCalloc(size_t n) { return UncheckedCalloc<char>(n); }
+
+// Used by the allocation functions when allocation fails.
+// Thin wrapper around v8::Isolate::LowMemoryNotification() that checks
+// whether V8 is initialized.
+void LowMemoryNotification();
 
 #ifdef __GNUC__
 #define NO_RETURN __attribute__((noreturn))
@@ -285,11 +308,7 @@ class MaybeStackBuffer {
     if (storage <= kStackStorageSize) {
       buf_ = buf_st_;
     } else {
-      // Guard against overflow.
-      CHECK_LE(storage, sizeof(T) * storage);
-
-      buf_ = static_cast<T*>(Malloc(sizeof(T) * storage));
-      CHECK_NE(buf_, nullptr);
+      buf_ = Malloc<T>(storage);
     }
 
     // Remember how much was allocated to check against that in SetLength().
diff --git a/test/cctest/util.cc b/test/cctest/util.cc
index 79f1524660b213..434eeba96f8445 100644
--- a/test/cctest/util.cc
+++ b/test/cctest/util.cc
@@ -90,16 +90,38 @@ TEST(UtilTest, ToLower) {
   EXPECT_EQ('a', ToLower('A'));
 }
 
+namespace node {
+  void LowMemoryNotification() {}
+}
+
 TEST(UtilTest, Malloc) {
   using node::Malloc;
+  EXPECT_NE(nullptr, Malloc<char>(0));
+  EXPECT_NE(nullptr, Malloc<char>(1));
   EXPECT_NE(nullptr, Malloc(0));
   EXPECT_NE(nullptr, Malloc(1));
 }
 
 TEST(UtilTest, Calloc) {
   using node::Calloc;
-  EXPECT_NE(nullptr, Calloc(0, 0));
-  EXPECT_NE(nullptr, Calloc(1, 0));
-  EXPECT_NE(nullptr, Calloc(0, 1));
-  EXPECT_NE(nullptr, Calloc(1, 1));
-}
\ No newline at end of file
+  EXPECT_NE(nullptr, Calloc<char>(0));
+  EXPECT_NE(nullptr, Calloc<char>(1));
+  EXPECT_NE(nullptr, Calloc(0));
+  EXPECT_NE(nullptr, Calloc(1));
+}
+
+TEST(UtilTest, UncheckedMalloc) {
+  using node::UncheckedMalloc;
+  EXPECT_NE(nullptr, UncheckedMalloc<char>(0));
+  EXPECT_NE(nullptr, UncheckedMalloc<char>(1));
+  EXPECT_NE(nullptr, UncheckedMalloc(0));
+  EXPECT_NE(nullptr, UncheckedMalloc(1));
+}
+
+TEST(UtilTest, UncheckedCalloc) {
+  using node::UncheckedCalloc;
+  EXPECT_NE(nullptr, UncheckedCalloc<char>(0));
+  EXPECT_NE(nullptr, UncheckedCalloc<char>(1));
+  EXPECT_NE(nullptr, UncheckedCalloc(0));
+  EXPECT_NE(nullptr, UncheckedCalloc(1));
+}