diff --git a/lld/ELF/Config.h b/lld/ELF/Config.h
--- a/lld/ELF/Config.h
+++ b/lld/ELF/Config.h
@@ -194,6 +194,7 @@
                   uint64_t>
       callGraphProfile;
   bool allowMultipleDefinition;
+  bool fatLTOObjects;
   bool androidPackDynRelocs = false;
   bool armHasBlx = false;
   bool armHasMovtMovw = false;
diff --git a/lld/ELF/Driver.cpp b/lld/ELF/Driver.cpp
--- a/lld/ELF/Driver.cpp
+++ b/lld/ELF/Driver.cpp
@@ -52,6 +52,7 @@
 #include "llvm/Config/llvm-config.h"
 #include "llvm/LTO/LTO.h"
 #include "llvm/Object/Archive.h"
+#include "llvm/Object/IRObjectFile.h"
 #include "llvm/Remarks/HotnessThresholdParser.h"
 #include "llvm/Support/CommandLine.h"
 #include "llvm/Support/Compression.h"
@@ -306,6 +307,14 @@
     files.push_back(make<BitcodeFile>(mbref, "", 0, inLib));
     break;
   case file_magic::elf_relocatable:
+    if (config->fatLTOObjects) {
+      Expected<MemoryBufferRef> fatLTOData =
+          IRObjectFile::findBitcodeInMemBuffer(mbref);
+      if (!errorToBool(fatLTOData.takeError())) {
+        files.push_back(make<BitcodeFile>(*fatLTOData, "", 0, inLib));
+        break;
+      }
+    }
     files.push_back(createObjFile(mbref, "", inLib));
     break;
   default:
@@ -1075,6 +1084,8 @@
       args.hasFlag(OPT_android_memtag_heap, OPT_no_android_memtag_heap, false);
   config->androidMemtagStack = args.hasFlag(OPT_android_memtag_stack,
                                             OPT_no_android_memtag_stack, false);
+  config->fatLTOObjects =
+      args.hasFlag(OPT_fatlto_objects, OPT_no_fatlto_objects, false);
   config->androidMemtagMode = getMemtagMode(args);
   config->auxiliaryList = args::getStrings(args, OPT_auxiliary);
   if (opt::Arg *arg =
@@ -2730,6 +2741,11 @@
       for (InputSectionBase *s : f->getSections()) {
         if (!s || s == &InputSection::discarded)
           continue;
+
+        // Do not aggregate the .llvm.lto section
+        if (s->name == ".llvm.lto")
+          continue;
+
         if (LLVM_UNLIKELY(isa<EhInputSection>(s)))
           ctx.ehInputSections.push_back(cast<EhInputSection>(s));
         else
diff --git a/lld/ELF/Options.td b/lld/ELF/Options.td
--- a/lld/ELF/Options.td
+++ b/lld/ELF/Options.td
@@ -615,6 +615,10 @@
 def thinlto_single_module_eq: JJ<"thinlto-single-module=">,
   HelpText<"Specify a single module to compile in ThinLTO mode, for debugging only">;
 
+defm fatlto_objects: B<"fat-lto-objects",
+    "Use the embedded bitcode in the .llvm.lto section of the object file",
+    "Use the assembly in the object file (default)">;
+
 def: J<"plugin-opt=O">, Alias<lto_O>, HelpText<"Alias for --lto-O">;
 def: F<"plugin-opt=debug-pass-manager">,
   Alias<lto_debug_pass_manager>, HelpText<"Alias for --lto-debug-pass-manager">;
diff --git a/lld/test/ELF/fatlto/Inputs/a-LTO.ll b/lld/test/ELF/fatlto/Inputs/a-LTO.ll
new file mode 100644
--- /dev/null
+++ b/lld/test/ELF/fatlto/Inputs/a-LTO.ll
@@ -0,0 +1,29 @@
+; ModuleID = 'a-LTO.bc'
+source_filename = "a.c"
+target datalayout = "e-m:e-p270:32:32-p271:32:32-p272:64:64-i64:64-f80:128-n8:16:32:64-S128"
+target triple = "x86_64-unknown-linux-gnu"
+
+; Function Attrs: noinline nounwind uwtable
+define dso_local i32 @a() #0 {
+entry:
+  ret i32 0
+}
+
+attributes #0 = { noinline nounwind uwtable "frame-pointer"="all" "min-legal-vector-width"="0" "no-trapping-math"="true" "stack-protector-buffer-size"="8" "target-cpu"="x86-64" "target-features"="+cx8,+fxsr,+mmx,+sse,+sse2,+x87" "tune-cpu"="generic" }
+
+!llvm.module.flags = !{!0, !1, !2, !3, !4, !5, !6}
+!llvm.ident = !{!7}
+
+!0 = !{i32 1, !"wchar_size", i32 4}
+!1 = !{i32 7, !"PIC Level", i32 2}
+!2 = !{i32 7, !"PIE Level", i32 2}
+!3 = !{i32 7, !"uwtable", i32 2}
+!4 = !{i32 7, !"frame-pointer", i32 2}
+!5 = !{i32 1, !"ThinLTO", i32 0}
+!6 = !{i32 1, !"EnableSplitLTOUnit", i32 1}
+!7 = !{!"clang version 15.0.0 (https://github.com/llvm/llvm-project.git 2288ebbec148ce8000fc2c1f63a4033cd847669e)"}
+
+^0 = module: (path: "a-LTO.bc", hash: (0, 0, 0, 0, 0))
+^1 = gv: (name: "a", summaries: (function: (module: ^0, flags: (linkage: external, visibility: default, notEligibleToImport: 1, live: 0, dsoLocal: 1, canAutoHide: 0), insts: 1, funcFlags: (readNone: 0, readOnly: 0, noRecurse: 0, returnDoesNotAlias: 0, noInline: 1, alwaysInline: 0, noUnwind: 1, mayThrow: 0, hasUnknownCall: 0, mustBeUnreachable: 0)))) ; guid = 12157170054180749580
+^2 = flags: 8
+^3 = blockcount: 1
diff --git a/lld/test/ELF/fatlto/Inputs/main-LTO.ll b/lld/test/ELF/fatlto/Inputs/main-LTO.ll
new file mode 100644
--- /dev/null
+++ b/lld/test/ELF/fatlto/Inputs/main-LTO.ll
@@ -0,0 +1,36 @@
+; ModuleID = 'main-LTO.bc'
+source_filename = "main.c"
+target datalayout = "e-m:e-p270:32:32-p271:32:32-p272:64:64-i64:64-f80:128-n8:16:32:64-S128"
+target triple = "x86_64-unknown-linux-gnu"
+
+; Function Attrs: noinline nounwind uwtable
+define dso_local i32 @main() #0 {
+entry:
+  %retval = alloca i32, align 4
+  store i32 0, ptr %retval, align 4
+  %call = call i32 (...) @a()
+  ret i32 %call
+}
+
+declare i32 @a(...) #1
+
+attributes #0 = { noinline nounwind uwtable "frame-pointer"="all" "min-legal-vector-width"="0" "no-trapping-math"="true" "stack-protector-buffer-size"="8" "target-cpu"="x86-64" "target-features"="+cx8,+fxsr,+mmx,+sse,+sse2,+x87" "tune-cpu"="generic" }
+attributes #1 = { "frame-pointer"="all" "no-trapping-math"="true" "stack-protector-buffer-size"="8" "target-cpu"="x86-64" "target-features"="+cx8,+fxsr,+mmx,+sse,+sse2,+x87" "tune-cpu"="generic" }
+
+!llvm.module.flags = !{!0, !1, !2, !3, !4, !5, !6}
+!llvm.ident = !{!7}
+
+!0 = !{i32 1, !"wchar_size", i32 4}
+!1 = !{i32 7, !"PIC Level", i32 2}
+!2 = !{i32 7, !"PIE Level", i32 2}
+!3 = !{i32 7, !"uwtable", i32 2}
+!4 = !{i32 7, !"frame-pointer", i32 2}
+!5 = !{i32 1, !"ThinLTO", i32 0}
+!6 = !{i32 1, !"EnableSplitLTOUnit", i32 1}
+!7 = !{!"clang version 15.0.0 (https://github.com/llvm/llvm-project.git 2288ebbec148ce8000fc2c1f63a4033cd847669e)"}
+
+^0 = module: (path: "main-LTO.bc", hash: (0, 0, 0, 0, 0))
+^1 = gv: (name: "a") ; guid = 12157170054180749580
+^2 = gv: (name: "main", summaries: (function: (module: ^0, flags: (linkage: external, visibility: default, notEligibleToImport: 1, live: 0, dsoLocal: 1, canAutoHide: 0), insts: 4, funcFlags: (readNone: 0, readOnly: 0, noRecurse: 0, returnDoesNotAlias: 0, noInline: 1, alwaysInline: 0, noUnwind: 1, mayThrow: 0, hasUnknownCall: 0, mustBeUnreachable: 0), calls: ((callee: ^1))))) ; guid = 15822663052811949562
+^3 = flags: 8
+^4 = blockcount: 1
diff --git a/lld/test/ELF/fatlto/fatlto.test b/lld/test/ELF/fatlto/fatlto.test
new file mode 100644
--- /dev/null
+++ b/lld/test/ELF/fatlto/fatlto.test
@@ -0,0 +1,55 @@
+;; Basic FatLTO tests.
+; REQUIRES: x86
+
+;; Clean up and initialize test dir
+; RUN: rm -rf %t
+; RUN: mkdir -p %t
+
+;; Ensure that input files contain .llvm.lto section
+; RUN: llc %p/Inputs/a-LTO.ll --filetype=obj -o %t/a-fatLTO.o
+; RUN: llvm-as %p/Inputs/a-LTO.ll -o %t/a-fatLTO.bc
+; RUN: llvm-objcopy --add-section=.llvm.lto=%t/a-fatLTO.bc %t/a-fatLTO.o
+; RUN: llvm-readobj -S %t/a-fatLTO.o | FileCheck --check-prefix=CHECK-A %s
+
+; CHECK-A: Name: .llvm.lto
+
+; RUN: llc %p/Inputs/main-LTO.ll --filetype=obj -o %t/main-fatLTO.o
+; RUN: llvm-as %p/Inputs/main-LTO.ll -o %t/main-fatLTO.bc
+; RUN: llvm-objcopy --add-section=.llvm.lto=%t/main-fatLTO.bc %t/main-fatLTO.o
+; RUN: llvm-readobj -S %t/main-fatLTO.o | FileCheck --check-prefix=CHECK-MAIN %s
+
+; CHECK-MAIN: Name: .llvm.lto
+
+; Final executable should not have .llvm.lto section no matter what the target is
+; RUN: ld.lld -o %t/foo-fatLTO %t/a-fatLTO.o %t/main-fatLTO.o -fat-lto-objects
+; RUN: llvm-readobj -S %t/foo-fatLTO | FileCheck --check-prefix=CHECK-LTO-TARGET %s
+
+;; Check if .llvm.lto section gets aggregated in LTO target
+; CHECK-LTO-TARGET-NOT: Name: .llvm.lto
+
+;; Final executable should not have .llvm.lto section no matter what the target is
+; RUN: ld.lld -o %t/foo-fatNoLTO %t/a-fatLTO.o %/t/main-fatLTO.o
+; RUN: llvm-readobj -S %t/foo-fatNoLTO | FileCheck --check-prefix=CHECK-NON-LTO-TARGET %s
+
+;; Check if .llvm.lto section gets aggregated in non-LTO target
+; CHECK-NON-LTO-TARGET-NOT: Name: .llvm.lto
+
+;; Check if the LTO target executable produced from FatLTO object file is
+;; identical to the one produced from LTO modules
+; RUN: llvm-as %p/Inputs/a-LTO.ll -o %t/a-LTO.bc
+; RUN: llvm-as %p/Inputs/main-LTO.ll -o %t/main-LTO.bc
+; RUN: ld.lld -o %t/foo-LTO %t/a-LTO.bc %t/main-LTO.bc
+; RUN: obj2yaml %t/foo-fatLTO > %t/foo-fatLTO.yaml
+; RUN: obj2yaml %t/foo-LTO > %t/foo-LTO.yaml
+; RUN: diff %t/foo-fatLTO.yaml %t/foo-LTO.yaml
+
+;; Check if the no-LTO target executable produced from FatLTO object file is
+;; identical to the one produced from regular object files
+
+; RUN: llc %p/Inputs/a-LTO.ll --filetype=obj -o %t/a.o
+; RUN: llc %p/Inputs/main-LTO.ll --filetype=obj -o %t/main.o
+
+; RUN: ld.lld -o %t/foo-noLTO %t/a.o %t/main.o
+; RUN: obj2yaml %t/foo-fatNoLTO > %t/foo-fatNoLTO.yaml
+; RUN: obj2yaml %t/foo-noLTO > %t/foo-noLTO.yaml
+; RUN: diff %t/foo-fatNoLTO.yaml %t/foo-noLTO.yaml