diff --git a/docs/examples/bare_type_type.py b/docs/examples/bare_type_type.py
new file mode 100644
--- /dev/null
+++ b/docs/examples/bare_type_type.py
@@ -0,0 +1,24 @@
+from typing import Type
+
+from pydantic import BaseModel, ValidationError
+
+
+class Foo:
+    pass
+
+
+class LenientSimpleModel(BaseModel):
+    any_class_goes: Type
+
+
+LenientSimpleModel(any_class_goes=int)
+LenientSimpleModel(any_class_goes=Foo)
+try:
+    LenientSimpleModel(any_class_goes=Foo())
+except ValidationError as e:
+    print(e)
+"""
+1 validation error
+any_class_goes
+  subclass of type expected (type=type_error.class)
+"""
diff --git a/docs/examples/type_type.py b/docs/examples/type_type.py
new file mode 100644
--- /dev/null
+++ b/docs/examples/type_type.py
@@ -0,0 +1,29 @@
+from typing import Type
+
+from pydantic import BaseModel
+from pydantic import ValidationError
+
+class Foo:
+    pass
+
+class Bar(Foo):
+    pass
+
+class Other:
+    pass
+
+class SimpleModel(BaseModel):
+    just_subclasses: Type[Foo]
+
+
+SimpleModel(just_subclasses=Foo)
+SimpleModel(just_subclasses=Bar)
+try:
+    SimpleModel(just_subclasses=Other)
+except ValidationError as e:
+    print(e)
+"""
+1 validation error
+just_subclasses
+  subclass of Foo expected (type=type_error.class)
+"""
diff --git a/pydantic/errors.py b/pydantic/errors.py
--- a/pydantic/errors.py
+++ b/pydantic/errors.py
@@ -324,6 +324,19 @@ def __init__(self, *, expected_arbitrary_type: AnyType) -> None:
         super().__init__(expected_arbitrary_type=display_as_type(expected_arbitrary_type))
 
 
+class ClassError(PydanticTypeError):
+    code = 'class'
+    msg_template = 'a class is expected'
+
+
+class SubclassError(PydanticTypeError):
+    code = 'subclass'
+    msg_template = 'subclass of {expected_class} expected'
+
+    def __init__(self, *, expected_class: AnyType) -> None:
+        super().__init__(expected_class=display_as_type(expected_class))
+
+
 class JsonError(PydanticValueError):
     msg_template = 'Invalid JSON'
 
diff --git a/pydantic/fields.py b/pydantic/fields.py
--- a/pydantic/fields.py
+++ b/pydantic/fields.py
@@ -248,6 +248,8 @@ def _populate_sub_fields(self) -> None:  # noqa: C901 (ignore complexity)
             )
             self.type_ = self.type_.__args__[1]  # type: ignore
             self.shape = SHAPE_MAPPING
+        elif issubclass(origin, Type):  # type: ignore
+            return
         else:
             raise TypeError(f'Fields of type "{origin}" are not supported.')
 
diff --git a/pydantic/typing.py b/pydantic/typing.py
--- a/pydantic/typing.py
+++ b/pydantic/typing.py
@@ -193,3 +193,21 @@ def update_field_forward_refs(field: 'Field', globalns: Any, localns: Any) -> No
     if field.sub_fields:
         for sub_f in field.sub_fields:
             update_field_forward_refs(sub_f, globalns=globalns, localns=localns)
+
+
+def get_class(type_: AnyType) -> Union[None, bool, AnyType]:
+    """
+    Tries to get the class of a Type[T] annotation. Returns True if Type is used
+    without brackets. Otherwise returns None.
+    """
+    try:
+        origin = getattr(type_, '__origin__')
+        if origin is None:  # Python 3.6
+            origin = type_
+        if issubclass(origin, Type):  # type: ignore
+            if type_.__args__ is None or not isinstance(type_.__args__[0], type):
+                return True
+            return type_.__args__[0]
+    except AttributeError:
+        pass
+    return None
diff --git a/pydantic/validators.py b/pydantic/validators.py
--- a/pydantic/validators.py
+++ b/pydantic/validators.py
@@ -26,8 +26,8 @@
 
 from . import errors
 from .datetime_parse import parse_date, parse_datetime, parse_duration, parse_time
-from .typing import AnyCallable, AnyType, ForwardRef, display_as_type, is_callable_type, is_literal_type
-from .utils import almost_equal_floats, change_exception, sequence_like
+from .typing import AnyCallable, AnyType, ForwardRef, display_as_type, get_class, is_callable_type, is_literal_type
+from .utils import almost_equal_floats, change_exception, lenient_issubclass, sequence_like
 
 if TYPE_CHECKING:  # pragma: no cover
     from .fields import Field
@@ -404,6 +404,21 @@ def arbitrary_type_validator(v: Any) -> T:
     return arbitrary_type_validator
 
 
+def make_class_validator(type_: Type[T]) -> Callable[[Any], Type[T]]:
+    def class_validator(v: Any) -> Type[T]:
+        if lenient_issubclass(v, type_):
+            return v
+        raise errors.SubclassError(expected_class=type_)
+
+    return class_validator
+
+
+def any_class_validator(v: Any) -> Type[T]:
+    if isinstance(v, type):
+        return v
+    raise errors.ClassError()
+
+
 def pattern_validator(v: Any) -> Pattern[str]:
     with change_exception(errors.PatternError, re.error):
         return re.compile(v)
@@ -486,6 +501,14 @@ def find_validators(  # noqa: C901 (ignore complexity)
         yield make_literal_validator(type_)
         return
 
+    class_ = get_class(type_)
+    if class_ is not None:
+        if isinstance(class_, type):
+            yield make_class_validator(class_)
+        else:
+            yield any_class_validator
+        return
+
     supertype = _find_supertype(type_)
     if supertype is not None:
         type_ = supertype

Might be possible to achieve this now using validator decorators. Please let us know whether or not you get it to work.

I'd be happy to accept a PR to implement it out of the box if it's something multiple people want.
diff --git a/tests/test_main.py b/tests/test_main.py
--- a/tests/test_main.py
+++ b/tests/test_main.py
@@ -1,5 +1,5 @@
 from enum import Enum
-from typing import Any, ClassVar, List, Mapping
+from typing import Any, ClassVar, List, Mapping, Type
 
 import pytest
 
@@ -530,6 +530,81 @@ class ArbitraryTypeNotAllowedModel(BaseModel):
     assert exc_info.value.args[0].startswith('no validator found for')
 
 
+def test_type_type_validation_success():
+    class ArbitraryClassAllowedModel(BaseModel):
+        t: Type[ArbitraryType]
+
+    arbitrary_type_class = ArbitraryType
+    m = ArbitraryClassAllowedModel(t=arbitrary_type_class)
+    assert m.t == arbitrary_type_class
+
+
+def test_type_type_subclass_validation_success():
+    class ArbitraryClassAllowedModel(BaseModel):
+        t: Type[ArbitraryType]
+
+    class ArbitrarySubType(ArbitraryType):
+        pass
+
+    arbitrary_type_class = ArbitrarySubType
+    m = ArbitraryClassAllowedModel(t=arbitrary_type_class)
+    assert m.t == arbitrary_type_class
+
+
+def test_type_type_validation_fails_for_instance():
+    class ArbitraryClassAllowedModel(BaseModel):
+        t: Type[ArbitraryType]
+
+    class C:
+        pass
+
+    with pytest.raises(ValidationError) as exc_info:
+        ArbitraryClassAllowedModel(t=C)
+    assert exc_info.value.errors() == [
+        {
+            'loc': ('t',),
+            'msg': 'subclass of ArbitraryType expected',
+            'type': 'type_error.subclass',
+            'ctx': {'expected_class': 'ArbitraryType'},
+        }
+    ]
+
+
+def test_type_type_validation_fails_for_basic_type():
+    class ArbitraryClassAllowedModel(BaseModel):
+        t: Type[ArbitraryType]
+
+    with pytest.raises(ValidationError) as exc_info:
+        ArbitraryClassAllowedModel(t=1)
+    assert exc_info.value.errors() == [
+        {
+            'loc': ('t',),
+            'msg': 'subclass of ArbitraryType expected',
+            'type': 'type_error.subclass',
+            'ctx': {'expected_class': 'ArbitraryType'},
+        }
+    ]
+
+
+def test_bare_type_type_validation_success():
+    class ArbitraryClassAllowedModel(BaseModel):
+        t: Type
+
+    arbitrary_type_class = ArbitraryType
+    m = ArbitraryClassAllowedModel(t=arbitrary_type_class)
+    assert m.t == arbitrary_type_class
+
+
+def test_bare_type_type_validation_fails():
+    class ArbitraryClassAllowedModel(BaseModel):
+        t: Type
+
+    arbitrary_type = ArbitraryType()
+    with pytest.raises(ValidationError) as exc_info:
+        ArbitraryClassAllowedModel(t=arbitrary_type)
+    assert exc_info.value.errors() == [{'loc': ('t',), 'msg': 'a class is expected', 'type': 'type_error.class'}]
+
+
 def test_annotation_field_name_shadows_attribute():
     with pytest.raises(NameError):
         # When defining a model that has an attribute with the name of a built-in attribute, an exception is raised

Validating subclasses
# Question

I was wondering what the best way to validate subclasses is?
Something along the sorts of

```python
import pydantic
class MyClass:
    pass
class MySubClass(MyClass):
    pass
class MyOtherClass:
    pass

class Foo(BaseModel):
    a_class_not_an_object: Type[MyClass]
```
where I would expect both

```python
Foo(a_class_not_an_object=MyClass)
Foo(a_class_not_an_object=MySubClass)
```
to work, but
```python
Foo(a_class_not_an_object=MyOtherClass)
```

to throw an error.
Is the way to go to implement a custom type or is there a way pydantic supports this out-of-the-box?

Have a good weekend :) 

tests/test_main.py::test_type_type_validation_success tests/test_main.py::test_type_type_subclass_validation_success tests/test_main.py::test_type_type_validation_fails_for_instance tests/test_main.py::test_type_type_validation_fails_for_basic_type
tests/test_main.py::test_success tests/test_main.py::test_ultra_simple_missing tests/test_main.py::test_ultra_simple_failed tests/test_main.py::test_ultra_simple_repr tests/test_main.py::test_str_truncate tests/test_main.py::test_comparing tests/test_main.py::test_nullable_strings_success tests/test_main.py::test_nullable_strings_fails tests/test_main.py::test_recursion tests/test_main.py::test_recursion_fails tests/test_main.py::test_not_required tests/test_main.py::test_infer_type tests/test_main.py::test_allow_extra tests/test_main.py::test_forbidden_extra_success tests/test_main.py::test_forbidden_extra_fails tests/test_main.py::test_disallow_mutation tests/test_main.py::test_extra_allowed tests/test_main.py::test_extra_ignored tests/test_main.py::test_set_attr tests/test_main.py::test_set_attr_invalid tests/test_main.py::test_any tests/test_main.py::test_alias tests/test_main.py::test_population_by_alias tests/test_main.py::test_field_order tests/test_main.py::test_required tests/test_main.py::test_not_immutability tests/test_main.py::test_immutability tests/test_main.py::test_const_validates tests/test_main.py::test_const_uses_default tests/test_main.py::test_const_with_wrong_value tests/test_main.py::test_validating_assignment_pass tests/test_main.py::test_validating_assignment_fail tests/test_main.py::test_enum_values tests/test_main.py::test_enum_raw tests/test_main.py::test_set_tuple_values tests/test_main.py::test_default_copy tests/test_main.py::test_arbitrary_type_allowed_validation_success tests/test_main.py::test_arbitrary_type_allowed_validation_fails tests/test_main.py::test_arbitrary_types_not_allowed tests/test_main.py::test_annotation_field_name_shadows_attribute tests/test_main.py::test_value_field_name_shadows_attribute tests/test_main.py::test_class_var tests/test_main.py::test_fields_set tests/test_main.py::test_skip_defaults_dict tests/test_main.py::test_skip_defaults_recursive tests/test_main.py::test_dict_skip_defaults_populated_by_alias tests/test_main.py::test_dict_skip_defaults_populated_by_alias_with_extra tests/test_main.py::test_dir_fields tests/test_main.py::test_dict_with_extra_keys tests/test_main.py::test_alias_generator tests/test_main.py::test_alias_generator_with_field_schema tests/test_main.py::test_alias_generator_wrong_type_error tests/test_main.py::test_root tests/test_main.py::test_root_list tests/test_main.py::test_root_failed tests/test_main.py::test_root_undefined_failed tests/test_main.py::test_parse_root_as_mapping tests/test_main.py::test_untouched_types tests/test_main.py::test_custom_types_fail_without_keep_untouched tests/test_main.py::test_model_iteration