diff --git a/paddle/fluid/operators/set_value_op.cc b/paddle/fluid/operators/set_value_op.cc
index 074642e1b0241..12cdccc50317c 100644
--- a/paddle/fluid/operators/set_value_op.cc
+++ b/paddle/fluid/operators/set_value_op.cc
@@ -104,7 +104,8 @@ class SetValueMaker : public framework::OpProtoAndCheckerMaker {
                  framework::proto::VarType::INT32,
                  framework::proto::VarType::INT64,
                  framework::proto::VarType::FP32,
-                 framework::proto::VarType::FP64})
+                 framework::proto::VarType::FP64,
+                 framework::proto::VarType::FP16})
         .SetDefault(framework::proto::VarType::FP32);
     AddAttr<std::vector<int64_t>>(
         "axes", "(list<int64_t>) Axes that `starts` and `ends` apply to.");
@@ -135,6 +136,8 @@ class SetValueMaker : public framework::OpProtoAndCheckerMaker {
         .SetDefault({});
     AddAttr<std::vector<double>>("fp64_values", "Store the float64 values.")
         .SetDefault({});
+    AddAttr<std::vector<float>>("fp16_values", "Store the float16 values.")
+        .SetDefault({});
 
     AddAttr<std::vector<int64_t>>("shape", "(vector<int64_t>) Shape of values.")
         .SetDefault({});
diff --git a/paddle/fluid/pybind/eager_method.cc b/paddle/fluid/pybind/eager_method.cc
index b384544bb6012..c782b4df58515 100644
--- a/paddle/fluid/pybind/eager_method.cc
+++ b/paddle/fluid/pybind/eager_method.cc
@@ -1151,11 +1151,15 @@ static PyObject* tensor_method__setitem_eager_tensor(TensorObject* self,
         } else if (self->tensor.dtype() ==
                    paddle::experimental::DataType::BOOL) {
           attrs["bool_values"] = std::vector<int>{value_obj_tmp.cast<bool>()};
+        } else if (self->tensor.dtype() ==
+                   paddle::experimental::DataType::FLOAT16) {
+          attrs["fp16_values"] =
+              std::vector<float>{value_obj_tmp.cast<float>()};
         } else {
           PADDLE_THROW(platform::errors::InvalidArgument(
               "When assign a value to a paddle.Tensor, "
               "the data type of the paddle.Tensor must be bool, "
-              "float32, int32 or int64, "
+              "float32, int32, int64 or float16, "
               "please check the type of tensor."));
         }
         attrs["shape"] = std::vector<int64_t>{1};
diff --git a/paddle/fluid/pybind/imperative.cc b/paddle/fluid/pybind/imperative.cc
index aeaa0dbff7816..3a960f6fc0368 100644
--- a/paddle/fluid/pybind/imperative.cc
+++ b/paddle/fluid/pybind/imperative.cc
@@ -964,11 +964,15 @@ void BindImperative(py::module *m_ptr) {
                              framework::proto::VarType::BOOL) {
                     attrs["bool_values"] =
                         std::vector<int>{value_obj.cast<bool>()};
+                  } else if (self->DataType() ==
+                             framework::proto::VarType::FP16) {
+                    attrs["fp16_values"] =
+                        std::vector<float>{value_obj.cast<float>()};
                   } else {
                     PADDLE_THROW(platform::errors::InvalidArgument(
                         "When assign a value to a paddle.Tensor, "
                         "the data type of the paddle.Tensor must be bool, "
-                        "float32, int32 or int64, "
+                        "float32, int32, int64 or float16, "
                         "please check the type of tensor."));
                   }
                   attrs["shape"] = std::vector<int64_t>{1};
diff --git a/paddle/phi/ops/compat/set_value_sig.cc b/paddle/phi/ops/compat/set_value_sig.cc
index 6ff94a6e263f4..8c98606600a98 100644
--- a/paddle/phi/ops/compat/set_value_sig.cc
+++ b/paddle/phi/ops/compat/set_value_sig.cc
@@ -724,6 +724,21 @@ KernelSignature SetValueOpArgumentMapping(const ArgumentMappingContext& ctx) {
                                     "shape",
                                     "bool_values"},
                                    {"Out"});
+          } else if (ctx.HasAttr("fp16_values") &&
+                     !paddle::any_cast<std::vector<float>>(
+                          ctx.Attr("fp16_values"))
+                          .empty()) {
+            return KernelSignature("set_value",
+                                   {"Input"},
+                                   {"starts",
+                                    "ends",
+                                    "steps",
+                                    "axes",
+                                    "decrease_axes",
+                                    "none_axes",
+                                    "shape",
+                                    "fp16_values"},
+                                   {"Out"});
           }
         }
       }
diff --git a/python/paddle/fluid/tests/unittests/test_set_value_op.py b/python/paddle/fluid/tests/unittests/test_set_value_op.py
index 59ccff3973ff0..fad47fc158cab 100644
--- a/python/paddle/fluid/tests/unittests/test_set_value_op.py
+++ b/python/paddle/fluid/tests/unittests/test_set_value_op.py
@@ -576,6 +576,28 @@ def set_dtype(self):
 create_test_value_int64(TestSetValueItemSlice4)
 
 
+def create_test_value_fp16(parent):
+
+    class TestValueInt(parent):
+
+        def set_value(self):
+            self.value = 3.7
+
+        def set_dtype(self):
+            self.dtype = "float16"
+
+    cls_name = "{0}_{1}".format(parent.__name__, "Valuefp16")
+    TestValueInt.__name__ = cls_name
+    globals()[cls_name] = TestValueInt
+
+
+create_test_value_fp16(TestSetValueItemInt)
+create_test_value_fp16(TestSetValueItemSlice)
+create_test_value_fp16(TestSetValueItemSlice2)
+create_test_value_fp16(TestSetValueItemSlice3)
+create_test_value_fp16(TestSetValueItemSlice4)
+
+
 def create_test_value_fp32(parent):
 
     class TestValueInt(parent):
@@ -1015,7 +1037,6 @@ def test_error(self):
         paddle.enable_static()
         with paddle.static.program_guard(self.program):
             self._value_type_error()
-            self._dtype_error()
             self._step_error()
             self._bool_list_error()
             self._bool_tensor_error()
diff --git a/python/paddle/fluid/variable_index.py b/python/paddle/fluid/variable_index.py
index a0a778759b030..1a13e8304194c 100644
--- a/python/paddle/fluid/variable_index.py
+++ b/python/paddle/fluid/variable_index.py
@@ -730,10 +730,13 @@ def _setitem_impl_(var, item, value):
         elif dtype == core.VarDesc.VarType.INT64:
             value_name = "int64_values"
             values = [int(v) for v in value.flat]
+        elif dtype == core.VarDesc.VarType.FP16:
+            value_name = "fp16_values"
+            values = [float(v) for v in value.flat]
         else:
             raise TypeError(
                 "When assign a numpy.ndarray, integer or float to a paddle.Tensor, "
-                "the data type of the paddle.Tensor must be bool, float32, int32 or int64, but "
+                "the data type of the paddle.Tensor must be bool, float32, int32, int64 or float16, but "
                 "received %s." % convert_dtype(dtype))
         attrs[value_name] = values
         attrs["shape"] = shape