diff --git a/mercurial/configitems.py b/mercurial/configitems.py
--- a/mercurial/configitems.py
+++ b/mercurial/configitems.py
@@ -199,6 +199,9 @@
 coreconfigitem('experimental', 'graphshorten',
     default=False,
 )
+coreconfigitem('experimental', 'hgrevsetsfile',
+    default=False,
+)
 coreconfigitem('experimental', 'hook-track-tags',
     default=False,
 )
diff --git a/mercurial/revset.py b/mercurial/revset.py
--- a/mercurial/revset.py
+++ b/mercurial/revset.py
@@ -2061,6 +2061,9 @@
 
     If localalias is not None, it is a dict {name: definitionstring}. It takes
     precedence over [revsetalias] config section.
+
+    Aliases from the config file and a ``.hgrevsets`` file in the working
+    directory are only expanded if ``ui`` is defined.
     """
     if not specs:
         def mfunc(repo, subset=None):
@@ -2079,6 +2082,12 @@
 
     aliases = []
     warn = None
+
+    # Aliases from the .hgrevsets file in the repo have the lowest priority
+    # because the user is in the least control of them. An hgrc or config
+    # option can be set easily. A file in the repo cannot be changed as easily.
+    if ui and repo and repo.ui.configbool('experimental', 'hgrevsetsfile'):
+        aliases.extend(_parsehgrevsetsfile(repo))
     if ui:
         aliases.extend(ui.configitems('revsetalias'))
         warn = ui.warn
@@ -2108,6 +2117,47 @@
         if func._safe:
             safesymbols.add(name)
 
+def _parsehgrevsetsfile(repo):
+    options = {}
+
+    data = repo.wvfs.tryread('.hgrevsets')
+    for line in data.splitlines():
+        line = line.strip()
+        if not line or line.startswith('#'):
+            continue
+
+        if '=' not in line:
+            repo.ui.warn(_('invalid syntax in .hgrevsets: %s\n') % line)
+            continue
+
+        name, value = line.split('=', 1)
+        options[name.strip()] = value.strip()
+
+    aliases = []
+    ourversion = util.versiontuple(n=2)
+
+    for key, value in options.iteritems():
+        if ':' in key:
+            continue
+
+        # Revsets in repo may require features not available to old clients.
+        # Allow revsets to self-advertise minimum version requirements.
+        minversion = options.get('%s:minversion' % key)
+        if minversion:
+            try:
+                wantversion = util.versiontuple(minversion, n=2)
+            except IndexError:
+                repo.ui.warn(_('illegal value for %s in .hgrevsetsfile: %s\n') %
+                             ('%s:minversion' % key, minversion))
+                continue
+
+            if wantversion > ourversion:
+                continue
+
+        aliases.append((key, value))
+
+    return aliases
+
 # load built-in predicates explicitly to setup safesymbols
 loadpredicate(None, None, predicate)
 
diff --git a/tests/test-revset.t b/tests/test-revset.t
--- a/tests/test-revset.t
+++ b/tests/test-revset.t
@@ -4114,6 +4114,102 @@
   5:904fa392b941
   6:e0cc66ef77e8
 
+.hgrevsets file from working directory can define aliases
+
+  $ cat > .hgrevsets << EOF
+  > filealiasall = all()
+  > filealiasthroughfour = 0:4
+  > EOF
+
+  $ hg log -q -r 'filealiasall'
+  abort: unknown revision 'filealiasall'!
+  [255]
+
+  $ hg log -q -r 'filealiasall' --config experimental.hgrevsetsfile=true
+  0:2785f51eece5
+  1:d75937da8da0
+  2:5ed5505e9f1c
+  3:8528aa5637f2
+  4:2326846efdab
+  5:904fa392b941
+  6:e0cc66ef77e8
+  7:013af1973af4
+  8:d5d0dcbdc4d9
+  9:24286f4ae135
+
+.hgrevsets is combined with revsetalias
+
+  $ hg log -q -r 'filealiasall & m' --config experimental.hgrevsetsfile=true
+  6:e0cc66ef77e8
+
+Value from config overwrites .hgrevsets
+
+  $ cat > .hgrevsets << EOF
+  > m = all()
+  > EOF
+
+  $ hg log -q -r m --config experimental.hgrevsetsfile=true
+  6:e0cc66ef77e8
+
+Minimum version filtering in .hgrevset entries works
+
+  $ cat > fakeversion.py << EOF
+  > from mercurial import util
+  > util.version = lambda: '4.1'
+  > EOF
+
+  $ cat > .hgrevsets << EOF
+  > requiresnew = 0:1
+  > requiresnew:minversion = 4.2
+  > requiresold = 2:3
+  > requiresold:minversion = 4.1
+  > EOF
+
+  $ hg log -q -r requiresnew --config experimental.hgrevsetsfile=true --config extensions.fakeversion=`pwd`/fakeversion.py
+  abort: unknown revision 'requiresnew'!
+  [255]
+
+  $ hg log -q -r requiresold --config experimental.hgrevsetsfile=true --config extensions.fakeversion=`pwd`/fakeversion.py
+  2:5ed5505e9f1c
+  3:8528aa5637f2
+
+Missing .hgrevsetsfile is OK
+
+  $ rm .hgrevsets
+  $ hg log -q -r 1 --config experimental.hgrevsetsfile=true
+  1:d75937da8da0
+
+Invalid syntax in .hgrevsets file
+
+  $ cat > .hgrevsets << EOF
+  > fileall = all()
+  > bar
+  > EOF
+
+  $ hg log -q -r fileall --config experimental.hgrevsetsfile=true
+  invalid syntax in .hgrevsets: bar
+  0:2785f51eece5
+  1:d75937da8da0
+  2:5ed5505e9f1c
+  3:8528aa5637f2
+  4:2326846efdab
+  5:904fa392b941
+  6:e0cc66ef77e8
+  7:013af1973af4
+  8:d5d0dcbdc4d9
+  9:24286f4ae135
+
+Unable to parse :minversion in .hgrevsets file
+
+  $ cat > .hgrevsets << EOF
+  > fileall = all()
+  > fileall:minversion = invalid
+  > EOF
+
+  $ hg log -q -r foo --config experimental.hgrevsetsfile=true
+  abort: unknown revision 'foo'!
+  [255]
+
 issue2549 - correct optimizations
 
   $ try 'limit(1 or 2 or 3, 2) and not 2'