diff --git a/src/index.js b/src/index.js
index ffff9f2..fc613a3 100644
--- a/src/index.js
+++ b/src/index.js
@@ -1,3 +1,6 @@
+/* eslint-disable
+  multiline-ternary
+*/
 import path from 'path';
 import loaderUtils from 'loader-utils';
 import validateOptions from 'schema-utils';
@@ -18,16 +21,22 @@ export default function loader(content) {
     regExp: options.regExp,
   });
 
-  let outputPath = (
-    typeof options.outputPath === 'function' ? options.outputPath(url) : path.join(options.outputPath || '', url)
-  );
+  let outputPath = typeof options.outputPath === 'function'
+    ? options.outputPath(url)
+    : path.join(options.outputPath || '', url);
 
   if (options.useRelativePath) {
     const filePath = this.resourcePath;
-    const issuerContext = context || (this._module && this._module.issuer
-      && this._module.issuer.context);
 
-    const relativeUrl = issuerContext && path.relative(issuerContext, filePath).split(path.sep).join('/');
+    const issuerContext = context || (
+      this._module &&
+      this._module.issuer &&
+      this._module.issuer.context
+    );
+
+    const relativeUrl = issuerContext && path.relative(issuerContext, filePath)
+      .split(path.sep)
+      .join('/');
 
     const relativePath = relativeUrl && `${path.dirname(relativeUrl)}/`;
     // eslint-disable-next-line no-bitwise
@@ -40,11 +49,16 @@ export default function loader(content) {
 
   let publicPath = null;
 
-  if (options.publicPath !== undefined) {
-    // support functions as publicPath to generate them dynamically
-    publicPath = JSON.stringify(
-      typeof options.publicPath === 'function' ? options.publicPath(url) : path.join(options.publicPath || '', url),
-    );
+  if (options.publicPath) {
+    if (typeof options.publicPath === 'function') {
+      publicPath = options.publicPath(url);
+    } else if (options.publicPath.endsWith('/')) {
+      publicPath = options.publicPath + url;
+    } else {
+      publicPath = `${options.publicPath}/${url}`;
+    }
+
+    publicPath = JSON.stringify(publicPath);
   } else {
     publicPath = `__webpack_public_path__ + ${JSON.stringify(outputPath)}`;
   }
diff --git a/test/options/__snapshots__/publicPath.test.js.snap b/test/options/__snapshots__/publicPath.test.js.snap
index ce726ca..72c97dd 100644
--- a/test/options/__snapshots__/publicPath.test.js.snap
+++ b/test/options/__snapshots__/publicPath.test.js.snap
@@ -9,7 +9,16 @@ Object {
 }
 `;
 
-exports[`Options publicPath {String} 1`] = `
+exports[`Options publicPath {String} - URL 1`] = `
+Object {
+  "assets": Array [
+    "9c87cbf3ba33126ffd25ae7f2f6bbafb.png",
+  ],
+  "source": "module.exports = \\"https://cdn.com/9c87cbf3ba33126ffd25ae7f2f6bbafb.png\\";",
+}
+`;
+
+exports[`Options publicPath {String} - Without trailing slash 1`] = `
 Object {
   "assets": Array [
     "9c87cbf3ba33126ffd25ae7f2f6bbafb.png",
@@ -18,7 +27,7 @@ Object {
 }
 `;
 
-exports[`Options publicPath {String} without trailing slash 1`] = `
+exports[`Options publicPath {String} 1`] = `
 Object {
   "assets": Array [
     "9c87cbf3ba33126ffd25ae7f2f6bbafb.png",
diff --git a/test/options/publicPath.test.js b/test/options/publicPath.test.js
index e70d1f8..dfaaa9b 100644
--- a/test/options/publicPath.test.js
+++ b/test/options/publicPath.test.js
@@ -21,7 +21,7 @@ describe('Options', () => {
       expect({ assets, source }).toMatchSnapshot();
     });
 
-    test('{String} without trailing slash', async () => {
+    test('{String} - Without trailing slash', async () => {
       const config = {
         loader: {
           test: /(png|jpg|svg)/,
@@ -37,6 +37,22 @@ describe('Options', () => {
       expect({ assets, source }).toMatchSnapshot();
     });
 
+    test('{String} - URL', async () => {
+      const config = {
+        loader: {
+          test: /(png|jpg|svg)/,
+          options: {
+            publicPath: 'https://cdn.com/',
+          },
+        },
+      };
+
+      const stats = await webpack('fixture.js', config);
+      const { assets, source } = stats.toJson().modules[1];
+
+      expect({ assets, source }).toMatchSnapshot();
+    });
+
     test('{Function}', async () => {
       const config = {
         loader: {