diff --git a/src/lightning_utilities/__about__.py b/src/lightning_utilities/__about__.py
index e6dfd24c..89f394ac 100644
--- a/src/lightning_utilities/__about__.py
+++ b/src/lightning_utilities/__about__.py
@@ -1,6 +1,6 @@
 import time
 
-__version__ = "0.2.0"
+__version__ = "0.3.0dev"
 __author__ = "Lightning AI et al."
 __author_email__ = "pytorch@lightning.ai"
 __license__ = "Apache-2.0"
diff --git a/src/lightning_utilities/core/rank_zero.py b/src/lightning_utilities/core/rank_zero.py
new file mode 100644
index 00000000..48d9ca67
--- /dev/null
+++ b/src/lightning_utilities/core/rank_zero.py
@@ -0,0 +1,89 @@
+"""Utilities that can be used for calling functions on a particular rank."""
+import logging
+import warnings
+from functools import wraps
+from platform import python_version
+from typing import Any, Callable, Optional, Union
+
+log = logging.getLogger(__name__)
+
+
+def rank_zero_only(fn: Callable) -> Callable:
+    """Function that can be used as a decorator to enable a function/method being called only on global rank 0."""
+
+    @wraps(fn)
+    def wrapped_fn(*args: Any, **kwargs: Any) -> Optional[Any]:
+        rank = getattr(rank_zero_only, "rank", None)
+        if rank is None:
+            raise RuntimeError("The `rank_zero_only.rank` needs to be set before use")
+        if rank == 0:
+            return fn(*args, **kwargs)
+        return None
+
+    return wrapped_fn
+
+
+def _debug(*args: Any, stacklevel: int = 2, **kwargs: Any) -> None:
+    if python_version() >= "3.8.0":
+        kwargs["stacklevel"] = stacklevel
+    log.debug(*args, **kwargs)
+
+
+@rank_zero_only
+def rank_zero_debug(*args: Any, stacklevel: int = 4, **kwargs: Any) -> None:
+    """Function used to log debug-level messages only on global rank 0."""
+    _debug(*args, stacklevel=stacklevel, **kwargs)
+
+
+def _info(*args: Any, stacklevel: int = 2, **kwargs: Any) -> None:
+    if python_version() >= "3.8.0":
+        kwargs["stacklevel"] = stacklevel
+    log.info(*args, **kwargs)
+
+
+@rank_zero_only
+def rank_zero_info(*args: Any, stacklevel: int = 4, **kwargs: Any) -> None:
+    """Function used to log info-level messages only on global rank 0."""
+    _info(*args, stacklevel=stacklevel, **kwargs)
+
+
+def _warn(message: Union[str, Warning], stacklevel: int = 2, **kwargs: Any) -> None:
+    warnings.warn(message, stacklevel=stacklevel, **kwargs)
+
+
+@rank_zero_only
+def rank_zero_warn(message: Union[str, Warning], stacklevel: int = 4, **kwargs: Any) -> None:
+    """Function used to log warn-level messages only on global rank 0."""
+    _warn(message, stacklevel=stacklevel, **kwargs)
+
+
+rank_zero_deprecation_category = DeprecationWarning
+
+
+def rank_zero_deprecation(message: Union[str, Warning], stacklevel: int = 5, **kwargs: Any) -> None:
+    category = kwargs.pop("category", rank_zero_deprecation_category)
+    rank_zero_warn(message, stacklevel=stacklevel, category=category, **kwargs)
+
+
+def rank_prefixed_message(message: str, rank: Optional[int]) -> str:
+    if rank is not None:
+        # specify the rank of the process being logged
+        return f"[rank: {rank}] {message}"
+    return message
+
+
+class WarningCache(set):
+    def warn(self, message: str, stacklevel: int = 5, **kwargs: Any) -> None:
+        if message not in self:
+            self.add(message)
+            rank_zero_warn(message, stacklevel=stacklevel, **kwargs)
+
+    def deprecation(self, message: str, stacklevel: int = 6, **kwargs: Any) -> None:
+        if message not in self:
+            self.add(message)
+            rank_zero_deprecation(message, stacklevel=stacklevel, **kwargs)
+
+    def info(self, message: str, stacklevel: int = 5, **kwargs: Any) -> None:
+        if message not in self:
+            self.add(message)
+            rank_zero_info(message, stacklevel=stacklevel, **kwargs)
diff --git a/tests/unittests/core/test_rank_zero.py b/tests/unittests/core/test_rank_zero.py
new file mode 100644
index 00000000..854365a7
--- /dev/null
+++ b/tests/unittests/core/test_rank_zero.py
@@ -0,0 +1,18 @@
+import pytest
+
+from lightning_utilities.core.rank_zero import rank_prefixed_message, rank_zero_only
+
+
+def test_rank_zero_only_raises():
+    foo = rank_zero_only(lambda x: x + 1)
+    with pytest.raises(RuntimeError, match="rank_zero_only.rank` needs to be set "):
+        foo(1)
+
+
+@pytest.mark.parametrize("rank", [0, 1, 4])
+def test_rank_prefixed_message(rank):
+    rank_zero_only.rank = rank
+    message = rank_prefixed_message("bar", rank)
+    assert message == f"[rank: {rank}] bar"
+    # reset
+    del rank_zero_only.rank