diff --git a/spring-boot-autoconfigure/src/main/java/org/springframework/boot/autoconfigure/condition/OnResourceCondition.java b/spring-boot-autoconfigure/src/main/java/org/springframework/boot/autoconfigure/condition/OnResourceCondition.java
index fb956f812a..9ebcddb26f 100644
--- a/spring-boot-autoconfigure/src/main/java/org/springframework/boot/autoconfigure/condition/OnResourceCondition.java
+++ b/spring-boot-autoconfigure/src/main/java/org/springframework/boot/autoconfigure/condition/OnResourceCondition.java
@@ -50,7 +50,7 @@ class OnResourceCondition extends SpringBootCondition {
 			Assert.isTrue(locations.size() > 0,
 					"@ConditionalOnResource annotations must specify at least one resource location");
 			for (String location : locations) {
-				if (!loader.getResource(location).exists()) {
+				if (!loader.getResource(context.getEnvironment().resolvePlaceholders(location)).exists()) {
 					return ConditionOutcome.noMatch("resource not found: " + location);
 				}
 			}
diff --git a/spring-boot-autoconfigure/src/test/java/org/springframework/boot/autoconfigure/condition/ConditionalOnResourceTests.java b/spring-boot-autoconfigure/src/test/java/org/springframework/boot/autoconfigure/condition/ConditionalOnResourceTests.java
index c683119b49..2167e1d38a 100644
--- a/spring-boot-autoconfigure/src/test/java/org/springframework/boot/autoconfigure/condition/ConditionalOnResourceTests.java
+++ b/spring-boot-autoconfigure/src/test/java/org/springframework/boot/autoconfigure/condition/ConditionalOnResourceTests.java
@@ -16,15 +16,16 @@
 
 package org.springframework.boot.autoconfigure.condition;
 
-import org.junit.Test;
-import org.springframework.context.annotation.AnnotationConfigApplicationContext;
-import org.springframework.context.annotation.Bean;
-import org.springframework.context.annotation.Configuration;
-
 import static org.junit.Assert.assertEquals;
 import static org.junit.Assert.assertFalse;
 import static org.junit.Assert.assertTrue;
 
+import org.junit.Test;
+import org.springframework.boot.test.EnvironmentTestUtils;
+import org.springframework.context.annotation.AnnotationConfigApplicationContext;
+import org.springframework.context.annotation.Bean;
+import org.springframework.context.annotation.Configuration;
+
 /**
  * Tests for {@link ConditionalOnResource}.
  *
@@ -42,6 +43,15 @@ public class ConditionalOnResourceTests {
 		assertEquals("foo", this.context.getBean("foo"));
 	}
 
+	@Test
+	public void testResourceExistsWithPlaceholder() {
+		EnvironmentTestUtils.addEnvironment(this.context, "schema=schema.sql");
+		this.context.register(PlaceholderConfiguration.class);
+		this.context.refresh();
+		assertTrue(this.context.containsBean("foo"));
+		assertEquals("foo", this.context.getBean("foo"));
+	}
+
 	@Test
 	public void testResourceNotExists() {
 		this.context.register(MissingConfiguration.class);
@@ -66,4 +76,13 @@ public class ConditionalOnResourceTests {
 			return "foo";
 		}
 	}
+
+	@Configuration
+	@ConditionalOnResource(resources = "${schema}")
+	protected static class PlaceholderConfiguration {
+		@Bean
+		public String foo() {
+			return "foo";
+		}
+	}
 }