diff --git a/core/src/main/java/org/teavm/wasm/decompile/BlockBreakLabel.java b/core/src/main/java/org/teavm/wasm/decompile/BlockBreakLabel.java
new file mode 100644
index 000000000..351fc3a3f
--- /dev/null
+++ b/core/src/main/java/org/teavm/wasm/decompile/BlockBreakLabel.java
@@ -0,0 +1,31 @@
+/*
+ *  Copyright 2016 Alexey Andreev.
+ *
+ *  Licensed under the Apache License, Version 2.0 (the "License");
+ *  you may not use this file except in compliance with the License.
+ *  You may obtain a copy of the License at
+ *
+ *       http://www.apache.org/licenses/LICENSE-2.0
+ *
+ *  Unless required by applicable law or agreed to in writing, software
+ *  distributed under the License is distributed on an "AS IS" BASIS,
+ *  WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ *  See the License for the specific language governing permissions and
+ *  limitations under the License.
+ */
+package org.teavm.wasm.decompile;
+
+import org.teavm.wasm.model.expression.WasmBlock;
+
+public class BlockBreakLabel implements Label {
+    private WasmBlock target;
+
+    public BlockBreakLabel(WasmBlock target) {
+        this.target = target;
+    }
+
+    @Override
+    public WasmBlock getTarget() {
+        return target;
+    }
+}
diff --git a/core/src/main/java/org/teavm/wasm/decompile/Context.java b/core/src/main/java/org/teavm/wasm/decompile/Context.java
new file mode 100644
index 000000000..973901b9f
--- /dev/null
+++ b/core/src/main/java/org/teavm/wasm/decompile/Context.java
@@ -0,0 +1,43 @@
+/*
+ *  Copyright 2016 Alexey Andreev.
+ *
+ *  Licensed under the Apache License, Version 2.0 (the "License");
+ *  you may not use this file except in compliance with the License.
+ *  You may obtain a copy of the License at
+ *
+ *       http://www.apache.org/licenses/LICENSE-2.0
+ *
+ *  Unless required by applicable law or agreed to in writing, software
+ *  distributed under the License is distributed on an "AS IS" BASIS,
+ *  WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ *  See the License for the specific language governing permissions and
+ *  limitations under the License.
+ */
+package org.teavm.wasm.decompile;
+
+import org.teavm.common.DominatorTree;
+import org.teavm.common.Graph;
+import org.teavm.common.LoopGraph;
+import org.teavm.model.Program;
+import org.teavm.model.util.VariableType;
+import org.teavm.wasm.model.WasmLocal;
+
+public interface Context {
+    void push(Step step);
+
+    void setLabel(int node, Label label);
+
+    Label getLabel(int node);
+
+    Graph getDomGraph();
+
+    LoopGraph getCfg();
+
+    Program getProgram();
+
+    DominatorTree getDomTree();
+
+    WasmLocal getLocal(int index);
+
+    VariableType getLocalType(int index);
+}
diff --git a/core/src/main/java/org/teavm/wasm/decompile/ContextUtils.java b/core/src/main/java/org/teavm/wasm/decompile/ContextUtils.java
new file mode 100644
index 000000000..0edf17df1
--- /dev/null
+++ b/core/src/main/java/org/teavm/wasm/decompile/ContextUtils.java
@@ -0,0 +1,39 @@
+/*
+ *  Copyright 2016 Alexey Andreev.
+ *
+ *  Licensed under the Apache License, Version 2.0 (the "License");
+ *  you may not use this file except in compliance with the License.
+ *  You may obtain a copy of the License at
+ *
+ *       http://www.apache.org/licenses/LICENSE-2.0
+ *
+ *  Unless required by applicable law or agreed to in writing, software
+ *  distributed under the License is distributed on an "AS IS" BASIS,
+ *  WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ *  See the License for the specific language governing permissions and
+ *  limitations under the License.
+ */
+package org.teavm.wasm.decompile;
+
+import com.carrotsearch.hppc.IntObjectMap;
+import com.carrotsearch.hppc.IntObjectOpenHashMap;
+
+public final class ContextUtils {
+    private ContextUtils() {
+    }
+
+    public static void withLabels(Context context, IntObjectMap<Label> labels) {
+        IntObjectMap<Label> undo = new IntObjectOpenHashMap<>();
+        for (int node : labels.keys().toArray()) {
+            undo.put(node, context.getLabel(node));
+        }
+        context.push(() -> withLabelsImpl(context, undo));
+        withLabelsImpl(context, labels);
+    }
+
+    private static void withLabelsImpl(Context context, IntObjectMap<Label> labels) {
+        for (int node : labels.keys().toArray()) {
+            context.setLabel(node, labels.get(node));
+        }
+    }
+}
diff --git a/core/src/main/java/org/teavm/wasm/decompile/DecompilationVisitor.java b/core/src/main/java/org/teavm/wasm/decompile/DecompilationVisitor.java
index b689cadb3..8c3dd4f2b 100644
--- a/core/src/main/java/org/teavm/wasm/decompile/DecompilationVisitor.java
+++ b/core/src/main/java/org/teavm/wasm/decompile/DecompilationVisitor.java
@@ -15,6 +15,7 @@
  */
 package org.teavm.wasm.decompile;
 
+import java.util.List;
 import org.teavm.model.InvokeDynamicInstruction;
 import org.teavm.model.instructions.ArrayLengthInstruction;
 import org.teavm.model.instructions.AssignInstruction;
@@ -53,11 +54,19 @@ import org.teavm.model.instructions.RaiseInstruction;
 import org.teavm.model.instructions.StringConstantInstruction;
 import org.teavm.model.instructions.SwitchInstruction;
 import org.teavm.model.instructions.UnwrapArrayInstruction;
+import org.teavm.wasm.model.expression.WasmExpression;
 
 public class DecompilationVisitor implements InstructionVisitor {
+    private List<WasmExpression> expressions;
+    private Context context;
+
+    public DecompilationVisitor(List<WasmExpression> expressions, Context context) {
+        this.expressions = expressions;
+        this.context = context;
+    }
+
     @Override
     public void visit(EmptyInstruction insn) {
-
     }
 
     @Override
diff --git a/core/src/main/java/org/teavm/wasm/decompile/EnterStep.java b/core/src/main/java/org/teavm/wasm/decompile/EnterStep.java
new file mode 100644
index 000000000..49ff47974
--- /dev/null
+++ b/core/src/main/java/org/teavm/wasm/decompile/EnterStep.java
@@ -0,0 +1,276 @@
+/*
+ *  Copyright 2016 Alexey Andreev.
+ *
+ *  Licensed under the Apache License, Version 2.0 (the "License");
+ *  you may not use this file except in compliance with the License.
+ *  You may obtain a copy of the License at
+ *
+ *       http://www.apache.org/licenses/LICENSE-2.0
+ *
+ *  Unless required by applicable law or agreed to in writing, software
+ *  distributed under the License is distributed on an "AS IS" BASIS,
+ *  WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ *  See the License for the specific language governing permissions and
+ *  limitations under the License.
+ */
+package org.teavm.wasm.decompile;
+
+import com.carrotsearch.hppc.IntObjectMap;
+import com.carrotsearch.hppc.IntObjectOpenHashMap;
+import java.util.Arrays;
+import java.util.List;
+import org.teavm.common.DominatorTree;
+import org.teavm.common.Graph;
+import org.teavm.common.IntegerArray;
+import org.teavm.common.Loop;
+import org.teavm.common.LoopGraph;
+import org.teavm.model.BasicBlock;
+import org.teavm.model.Instruction;
+import org.teavm.model.instructions.BinaryBranchingInstruction;
+import org.teavm.model.instructions.BranchingCondition;
+import org.teavm.model.instructions.BranchingInstruction;
+import org.teavm.model.util.VariableType;
+import org.teavm.wasm.model.WasmLocal;
+import org.teavm.wasm.model.expression.WasmBlock;
+import org.teavm.wasm.model.expression.WasmConditional;
+import org.teavm.wasm.model.expression.WasmExpression;
+import org.teavm.wasm.model.expression.WasmFloat32Constant;
+import org.teavm.wasm.model.expression.WasmFloat64Constant;
+import org.teavm.wasm.model.expression.WasmFloatBinary;
+import org.teavm.wasm.model.expression.WasmFloatBinaryOperation;
+import org.teavm.wasm.model.expression.WasmFloatType;
+import org.teavm.wasm.model.expression.WasmInt32Constant;
+import org.teavm.wasm.model.expression.WasmInt64Constant;
+import org.teavm.wasm.model.expression.WasmIntBinary;
+import org.teavm.wasm.model.expression.WasmIntBinaryOperation;
+import org.teavm.wasm.model.expression.WasmIntType;
+import org.teavm.wasm.model.expression.WasmLocalReference;
+
+public class EnterStep implements Step {
+    private Context context;
+    private List<WasmExpression> expressions;
+    private List<WasmExpression> innerExpressions;
+    private int node;
+    private DecompilationVisitor decompilationVisitor;
+
+    public EnterStep(Context context, List<WasmExpression> expressions, int node) {
+        this.context = context;
+        this.expressions = expressions;
+        this.innerExpressions = expressions;
+        this.node = node;
+    }
+
+    @Override
+    public void perform() {
+        LoopGraph cfg = context.getCfg();
+        Graph domGraph = context.getDomGraph();
+
+        Loop loop = cfg.loopAt(node);
+        if (loop != null && loop.getHead() == node) {
+            enterLoop(loop);
+        }
+
+        decompilationVisitor = new DecompilationVisitor(innerExpressions, context);
+        compileInstructions();
+
+        int successors = domGraph.outgoingEdgesCount(node);
+        if (successors == 1) {
+            enterNext(domGraph.outgoingEdges(node)[0]);
+        } else if (successors == 0) {
+            BasicBlock block = context.getProgram().basicBlockAt(node);
+            block.getLastInstruction().acceptVisitor(decompilationVisitor);
+        } else {
+            compileFork();
+        }
+    }
+
+    private void compileInstructions() {
+        BasicBlock block = context.getProgram().basicBlockAt(node);
+        int lastInstructionIndex = block.getInstructions().size() - 1;
+        for (int i = 0; i < lastInstructionIndex; ++i) {
+            block.getInstructions().get(i).acceptVisitor(decompilationVisitor);
+        }
+    }
+
+    private void enterLoop(Loop loop) {
+        WasmBlock wasmLoop = new WasmBlock(true);
+        innerExpressions = wasmLoop.getBody();
+        expressions.add(wasmLoop);
+        LoopExitStep exitStep = new LoopExitStep(expressions, wasmLoop);
+        context.push(exitStep);
+
+        IntObjectMap<Label> newLabels = new IntObjectOpenHashMap<>();
+        int[] exits = findLoopExits(loop);
+        Label breakLabel = exitStep.createBreakLabel();
+        for (int exit : exits) {
+            newLabels.put(exit, breakLabel);
+        }
+        newLabels.put(loop.getHead(), exitStep.createContinueLabel());
+        ContextUtils.withLabels(context, newLabels);
+    }
+
+    private int[] findLoopExits(Loop loop) {
+        IntegerArray exits = new IntegerArray(2);
+        LoopGraph cfg = context.getCfg();
+        for (int i = 0; i < cfg.size(); ++i) {
+            Loop nodeLoop = cfg.loopAt(i);
+            if (nodeLoop != null && nodeLoop.isChildOf(loop)) {
+                for (int successor : cfg.outgoingEdges(i)) {
+                    Loop successorLoop = cfg.loopAt(successor);
+                    if (successorLoop == null || !successorLoop.isChildOf(loop)) {
+                        exits.add(i);
+                        break;
+                    }
+                }
+            }
+        }
+        return exits.getAll();
+    }
+
+    private void compileFork() {
+        Instruction instruction = context.getProgram().basicBlockAt(node).getLastInstruction();
+        if (instruction instanceof BranchingInstruction) {
+            compileFork((BranchingInstruction) instruction);
+        } else if (instruction instanceof BinaryBranchingInstruction) {
+            compileFork((BinaryBranchingInstruction) instruction);
+        }
+    }
+
+    private void compileFork(BranchingInstruction instruction) {
+        WasmLocal local = context.getLocal(instruction.getOperand().getIndex());
+        WasmExpression operand = new WasmLocalReference(local);
+        VariableType operandType = context.getLocalType(instruction.getOperand().getIndex());
+
+        WasmExpression condition;
+        switch (operandType) {
+            case FLOAT:
+                condition = new WasmFloatBinary(WasmFloatType.FLOAT32, getFloatCondition(instruction.getCondition()),
+                        operand, new WasmFloat32Constant(0));
+                break;
+            case DOUBLE:
+                condition = new WasmFloatBinary(WasmFloatType.FLOAT64, getFloatCondition(instruction.getCondition()),
+                        operand, new WasmFloat64Constant(0));
+                break;
+            case INT:
+                condition = new WasmIntBinary(WasmIntType.INT32, getIntCondition(instruction.getCondition()),
+                        operand, new WasmInt32Constant(0));
+                break;
+            case LONG:
+                condition = new WasmIntBinary(WasmIntType.INT64, getIntCondition(instruction.getCondition()),
+                        operand, new WasmInt64Constant(0));
+                break;
+            default:
+                condition = new WasmIntBinary(WasmIntType.INT32, getReferenceCondition(instruction.getCondition()),
+                        operand, new WasmInt32Constant(0));
+                break;
+        }
+
+        compileIf(condition, instruction.getConsequent().getIndex(), instruction.getAlternative().getIndex());
+    }
+
+    private void compileFork(BinaryBranchingInstruction instruction) {
+        WasmExpression a = new WasmLocalReference(context.getLocal(instruction.getFirstOperand().getIndex()));
+        WasmExpression b = new WasmLocalReference(context.getLocal(instruction.getSecondOperand().getIndex()));
+
+        WasmExpression condition;
+        switch (instruction.getCondition()) {
+            case REFERENCE_EQUAL:
+            case EQUAL:
+                condition = new WasmIntBinary(WasmIntType.INT32, WasmIntBinaryOperation.EQ, a, b);
+                break;
+            case REFERENCE_NOT_EQUAL:
+            case NOT_EQUAL:
+                condition = new WasmIntBinary(WasmIntType.INT32, WasmIntBinaryOperation.NE, a, b);
+                break;
+            default:
+                throw new IllegalArgumentException(instruction.getCondition().toString());
+        }
+
+        compileIf(condition, instruction.getConsequent().getIndex(), instruction.getAlternative().getIndex());
+    }
+
+    private WasmFloatBinaryOperation getFloatCondition(BranchingCondition condition) {
+        switch (condition) {
+            case EQUAL:
+                return WasmFloatBinaryOperation.EQ;
+            case NOT_EQUAL:
+                return WasmFloatBinaryOperation.NE;
+            case GREATER:
+                return WasmFloatBinaryOperation.GT;
+            case GREATER_OR_EQUAL:
+                return WasmFloatBinaryOperation.GE;
+            case LESS:
+                return WasmFloatBinaryOperation.LT;
+            case LESS_OR_EQUAL:
+                return WasmFloatBinaryOperation.LE;
+            case NULL:
+            case NOT_NULL:
+                break;
+        }
+        throw new IllegalArgumentException(condition.toString());
+    }
+
+    private WasmIntBinaryOperation getIntCondition(BranchingCondition condition) {
+        switch (condition) {
+            case EQUAL:
+                return WasmIntBinaryOperation.EQ;
+            case NOT_EQUAL:
+                return WasmIntBinaryOperation.NE;
+            case GREATER:
+                return WasmIntBinaryOperation.GT_SIGNED;
+            case GREATER_OR_EQUAL:
+                return WasmIntBinaryOperation.GE_SIGNED;
+            case LESS:
+                return WasmIntBinaryOperation.LT_SIGNED;
+            case LESS_OR_EQUAL:
+                return WasmIntBinaryOperation.LE_SIGNED;
+            case NULL:
+            case NOT_NULL:
+                break;
+        }
+        throw new IllegalArgumentException(condition.toString());
+    }
+
+    private WasmIntBinaryOperation getReferenceCondition(BranchingCondition condition) {
+        switch (condition) {
+            case NULL:
+                return WasmIntBinaryOperation.EQ;
+            case NOT_NULL:
+                return WasmIntBinaryOperation.NE;
+            default:
+                break;
+        }
+        throw new IllegalArgumentException(condition.toString());
+    }
+
+    private void compileIf(WasmExpression condition, int thenNode, int elseNode) {
+        DominatorTree dom = context.getDomTree();
+        Graph domGraph = context.getDomGraph();
+
+        boolean ownsThen = dom.directlyDominates(node, thenNode);
+        boolean ownsElse = dom.directlyDominates(node, elseNode);
+        int[] exits = Arrays.stream(domGraph.outgoingEdges(node))
+                .filter(n -> n != thenNode && n != elseNode)
+                .toArray();
+
+        if (ownsThen && ownsElse) {
+            WasmConditional conditional = new WasmConditional(condition);
+            innerExpressions.add(conditional);
+            compileBranch(conditional.getElseBlock(), elseNode, exits);
+            compileBranch(conditional.getThenBlock(), thenNode, exits);
+        }
+    }
+
+    private void compileBranch(WasmBlock block, int branchNode, int[] exits) {
+        IntObjectMap<Label> thenLabels = new IntObjectOpenHashMap<>();
+        for (int exit : exits) {
+            thenLabels.put(exit, new BlockBreakLabel(block));
+        }
+        ContextUtils.withLabels(context, thenLabels);
+        context.push(new EnterStep(context, block.getBody(), branchNode));
+    }
+
+    private void enterNext(int nextNode) {
+        context.push(new EnterStep(context, innerExpressions, nextNode));
+    }
+}
diff --git a/core/src/main/java/org/teavm/wasm/decompile/Label.java b/core/src/main/java/org/teavm/wasm/decompile/Label.java
new file mode 100644
index 000000000..2dee26af1
--- /dev/null
+++ b/core/src/main/java/org/teavm/wasm/decompile/Label.java
@@ -0,0 +1,22 @@
+/*
+ *  Copyright 2016 Alexey Andreev.
+ *
+ *  Licensed under the Apache License, Version 2.0 (the "License");
+ *  you may not use this file except in compliance with the License.
+ *  You may obtain a copy of the License at
+ *
+ *       http://www.apache.org/licenses/LICENSE-2.0
+ *
+ *  Unless required by applicable law or agreed to in writing, software
+ *  distributed under the License is distributed on an "AS IS" BASIS,
+ *  WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ *  See the License for the specific language governing permissions and
+ *  limitations under the License.
+ */
+package org.teavm.wasm.decompile;
+
+import org.teavm.wasm.model.expression.WasmBlock;
+
+public interface Label {
+    WasmBlock getTarget();
+}
diff --git a/core/src/main/java/org/teavm/wasm/decompile/LoopExitStep.java b/core/src/main/java/org/teavm/wasm/decompile/LoopExitStep.java
new file mode 100644
index 000000000..06a9fdedb
--- /dev/null
+++ b/core/src/main/java/org/teavm/wasm/decompile/LoopExitStep.java
@@ -0,0 +1,55 @@
+/*
+ *  Copyright 2016 Alexey Andreev.
+ *
+ *  Licensed under the Apache License, Version 2.0 (the "License");
+ *  you may not use this file except in compliance with the License.
+ *  You may obtain a copy of the License at
+ *
+ *       http://www.apache.org/licenses/LICENSE-2.0
+ *
+ *  Unless required by applicable law or agreed to in writing, software
+ *  distributed under the License is distributed on an "AS IS" BASIS,
+ *  WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ *  See the License for the specific language governing permissions and
+ *  limitations under the License.
+ */
+package org.teavm.wasm.decompile;
+
+import java.util.List;
+import org.teavm.wasm.model.expression.WasmBlock;
+import org.teavm.wasm.model.expression.WasmExpression;
+
+public class LoopExitStep implements Step {
+    private List<WasmExpression> expressions;
+    private WasmBlock loop;
+    private WasmBlock targetBlock;
+
+    public LoopExitStep(List<WasmExpression> expressions, WasmBlock loop) {
+        this.expressions = expressions;
+        this.loop = loop;
+    }
+
+    @Override
+    public void perform() {
+        if (targetBlock != null) {
+            expressions.add(targetBlock);
+        } else {
+            expressions.add(loop);
+        }
+        targetBlock = null;
+    }
+
+    public Label createBreakLabel() {
+        return () -> {
+            if (targetBlock == null) {
+                targetBlock = new WasmBlock(false);
+                targetBlock.getBody().add(loop);
+            }
+            return targetBlock;
+        };
+    }
+
+    public Label createContinueLabel() {
+        return () -> loop;
+    }
+}
diff --git a/core/src/main/java/org/teavm/wasm/decompile/Step.java b/core/src/main/java/org/teavm/wasm/decompile/Step.java
new file mode 100644
index 000000000..c608f6a65
--- /dev/null
+++ b/core/src/main/java/org/teavm/wasm/decompile/Step.java
@@ -0,0 +1,20 @@
+/*
+ *  Copyright 2016 Alexey Andreev.
+ *
+ *  Licensed under the Apache License, Version 2.0 (the "License");
+ *  you may not use this file except in compliance with the License.
+ *  You may obtain a copy of the License at
+ *
+ *       http://www.apache.org/licenses/LICENSE-2.0
+ *
+ *  Unless required by applicable law or agreed to in writing, software
+ *  distributed under the License is distributed on an "AS IS" BASIS,
+ *  WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ *  See the License for the specific language governing permissions and
+ *  limitations under the License.
+ */
+package org.teavm.wasm.decompile;
+
+public interface Step {
+    void perform();
+}
diff --git a/core/src/main/java/org/teavm/wasm/model/expression/WasmFloatBinaryOperation.java b/core/src/main/java/org/teavm/wasm/model/expression/WasmFloatBinaryOperation.java
index 1566cbb71..957a080e4 100644
--- a/core/src/main/java/org/teavm/wasm/model/expression/WasmFloatBinaryOperation.java
+++ b/core/src/main/java/org/teavm/wasm/model/expression/WasmFloatBinaryOperation.java
@@ -20,5 +20,10 @@ public enum WasmFloatBinaryOperation {
     SUB,
     MUL,
     DIV,
-
+    EQ,
+    NE,
+    LT,
+    LE,
+    GT,
+    GE
 }