diff --git a/ChangeLog.d/fix-windows-cmake-build-with-shared-libraries.txt b/ChangeLog.d/fix-windows-cmake-build-with-shared-libraries.txt
new file mode 100644
index 0000000000..6878645238
--- /dev/null
+++ b/ChangeLog.d/fix-windows-cmake-build-with-shared-libraries.txt
@@ -0,0 +1,3 @@
+Bugfix
+   * Fix compilation on Windows when building shared library, by setting
+     library search path to CMAKE_CURRENT_BINARY_DIR.
diff --git a/library/CMakeLists.txt b/library/CMakeLists.txt
index df7f170d3a..6bb2ad38ce 100644
--- a/library/CMakeLists.txt
+++ b/library/CMakeLists.txt
@@ -260,6 +260,7 @@ if(USE_STATIC_MBEDTLS_LIBRARY)
 endif(USE_STATIC_MBEDTLS_LIBRARY)
 
 if(USE_SHARED_MBEDTLS_LIBRARY)
+    set(CMAKE_LIBRARY_PATH ${CMAKE_CURRENT_BINARY_DIR})
     add_library(${mbedcrypto_target} SHARED ${src_crypto})
     set_target_properties(${mbedcrypto_target} PROPERTIES VERSION 3.1.0 SOVERSION 11)
     target_link_libraries(${mbedcrypto_target} PUBLIC ${libs})