diff --git a/src/secp256k1/CMakeLists.txt b/src/secp256k1/CMakeLists.txt
--- a/src/secp256k1/CMakeLists.txt
+++ b/src/secp256k1/CMakeLists.txt
@@ -40,14 +40,15 @@
 )
 
 # The library
-add_library(secp256k1 src/secp256k1.c)
-target_include_directories(secp256k1 PUBLIC include)
+add_library(secp256k1-object OBJECT src/secp256k1.c)
+target_include_directories(secp256k1-object PUBLIC include)
+set(SECP256k1_LIBS "")
 
 # We need to link in GMP
 find_package(GMP)
 if(GMP_FOUND)
-	target_include_directories(secp256k1 PUBLIC ${GMP_INCLUDE_DIR})
-	target_link_libraries(secp256k1 ${GMP_LIBRARY})
+	target_include_directories(secp256k1-object PUBLIC ${GMP_INCLUDE_DIR})
+	list(APPEND SECP256k1_LIBS ${GMP_LIBRARY})
 	set(USE_NUM_GMP 1)
 	set(USE_FIELD_INV_NUM 1)
 	set(USE_SCALAR_INV_NUM 1)
@@ -148,12 +149,35 @@
 		COMMAND gen_context
 	)
 
-	target_sources(secp256k1 PRIVATE ecmult_static_context.h)
+	target_sources(secp256k1-object PRIVATE ecmult_static_context.h)
 endif()
 
 # Generate the config
 configure_file(src/libsecp256k1-config.h.cmake.in src/libsecp256k1-config.h ESCAPE_QUOTES)
-target_compile_definitions(secp256k1 PRIVATE HAVE_CONFIG_H SECP256K1_BUILD)
+target_compile_definitions(secp256k1-object PRIVATE HAVE_CONFIG_H SECP256K1_BUILD)
+
+macro(build_secp256k1_library NAME TYPE)
+	add_library(${NAME} ${TYPE} $<TARGET_OBJECTS:secp256k1-object>)	
+
+	# The following lines can be simplified with cmake >= 3.12:
+	# target_link_libraries(${NAME} secp256k1-object)
+	target_compile_definitions(${NAME} PRIVATE $<TARGET_PROPERTY:secp256k1-object,COMPILE_DEFINITIONS>)
+	target_include_directories(${NAME} PUBLIC $<TARGET_PROPERTY:secp256k1-object,INCLUDE_DIRECTORIES>)
+
+	target_link_libraries(${NAME} ${SECP256k1_LIBS})
+	set_target_properties(${NAME} PROPERTIES OUTPUT_NAME "secp256k1")
+endmacro()
+
+# Build the static secp256k1 library
+build_secp256k1_library(secp256k1 STATIC)
+
+option(SECP256K1_BUILD_SHARED "Build secp256k1 as a shared library" OFF)
+if(SECP256K1_BUILD_SHARED)
+	# CMake will automatically set the PIC option to the shared library, but not
+	# when building the object library files, causing a linker failure.
+	set_target_properties(secp256k1-object PROPERTIES POSITION_INDEPENDENT_CODE ON)
+	build_secp256k1_library(secp256k1-shared SHARED)
+endif()
 
 # Tests
 option(SECP256K1_BUILD_TEST "Build secp256k1's unit tests" ON)