We investigate the production of gravitational waves during preheating after inflation in the common case of field potentials that are asymmetric around the minimum. In particular, we study the impact of oscillons, comparatively long lived and spatially localized regions where a scalar field (e.g. the inflaton) oscillates with large amplitude. Contrary to a previous study, which considered a symmetric potential, we find that oscillons in asymmetric potentials associated with a phase transition can generate a pronounced peak in the spectrum of gravitational waves, that largely exceeds the linear preheating spectrum. We discuss the possible implications of this enhanced amplitude of gravitational waves. For instance, for low scale inflation models, the contribution from the oscillons can strongly enhance the observation prospects at current and future gravitational wave detectors.Introduction: Inflation is a very successful paradigm for early universe cosmology. The accelerated expansion can solve the horizon and flatness problems, while the quantum fluctuations of the inflaton field provide the seed for structure in the universe. After inflation, the potential energy of the inflaton is transferred to a thermal bath of the matter species present in the universe today in a process called reheating. The early stage of reheating, referred to as preheating, is often governed by non-linear dynamics of the inflaton field and other fields coupled to it, typically resulting in inhomogeneous field configurations. A generic consequence of preheating is the production of a stochastic background of gravitational waves (GW) [1, 2].