diff --git a/lld/MachO/DriverUtils.cpp b/lld/MachO/DriverUtils.cpp
--- a/lld/MachO/DriverUtils.cpp
+++ b/lld/MachO/DriverUtils.cpp
@@ -186,20 +186,32 @@
     depTracker->logFileNotFound(path);
 }
 
+static DenseMap<CachedHashStringRef, StringRef> resolvedDylibs;
 std::optional<StringRef> macho::resolveDylibPath(StringRef dylibPath) {
+  CachedHashStringRef key(dylibPath);
+  auto entry = resolvedDylibs.find(key);
+  if (entry != resolvedDylibs.end())
+    return entry->second;
+
   // TODO: if a tbd and dylib are both present, we should check to make sure
   // they are consistent.
   SmallString<261> tbdPath = dylibPath;
   path::replace_extension(tbdPath, ".tbd");
   bool tbdExists = fs::exists(tbdPath);
   searchedDylib(tbdPath, tbdExists);
-  if (tbdExists)
-    return saver().save(tbdPath.str());
+  if (tbdExists) {
+    StringRef file = saver().save(tbdPath.str());
+    resolvedDylibs[key] = file;
+    return file;
+  }
 
   bool dylibExists = fs::exists(dylibPath);
   searchedDylib(dylibPath, dylibExists);
-  if (dylibExists)
-    return saver().save(dylibPath);
+  if (dylibExists) {
+    StringRef file = saver().save(dylibPath);
+    resolvedDylibs[key] = file;
+    return file;
+  }
   return {};
 }
 
@@ -253,7 +265,10 @@
   return newFile;
 }
 
-void macho::resetLoadedDylibs() { loadedDylibs.clear(); }
+void macho::resetLoadedDylibs() {
+  resolvedDylibs.clear();
+  loadedDylibs.clear();
+}
 
 std::optional<StringRef>
 macho::findPathCombination(const Twine &name,