diff --git a/src/binding.cc b/src/binding.cc
index 50db9ec0d9..37d9df6b9a 100644
--- a/src/binding.cc
+++ b/src/binding.cc
@@ -3791,6 +3791,80 @@ uint32_t v8__ValueDeserializer__GetWireFormatVersion(
 }
 }  // extern "C"
 
+// v8::WasmModuleCompilation
+
+extern "C" {
+
+v8::WasmModuleCompilation* v8__WasmModuleCompilation__NEW() {
+  return new v8::WasmModuleCompilation();
+}
+
+void v8__WasmModuleCompilation__DELETE(v8::WasmModuleCompilation* self) {
+  delete self;
+}
+
+void v8__WasmModuleCompilation__OnBytesReceived(v8::WasmModuleCompilation* self,
+                                                const uint8_t* bytes,
+                                                size_t size) {
+  self->OnBytesReceived(bytes, size);
+}
+
+void v8__WasmModuleCompilation__Finish(
+    v8::WasmModuleCompilation* self, v8::Isolate* isolate,
+    void (*caching_callback)(v8::WasmStreaming::ModuleCachingInterface&),
+    void (*resolution_callback)(void* data, const v8::WasmModuleObject* module,
+                                const v8::Value* error),
+    void* resolution_data, void (*drop_resolution_data)(void* data)) {
+  // Use shared_ptr to reference-count the Rust closure data through
+  // std::function's copy semantics. The custom deleter calls back into Rust
+  // to drop the boxed closure when the last copy is destroyed.
+  auto shared_data = std::shared_ptr<void>(
+      resolution_data,
+      [drop_resolution_data](void* p) { drop_resolution_data(p); });
+  self->Finish(
+      isolate, caching_callback,
+      [resolution_callback, shared_data](auto result) {
+        if (auto* module =
+                std::get_if<v8::Local<v8::WasmModuleObject>>(&result)) {
+          resolution_callback(shared_data.get(), local_to_ptr(*module),
+                              nullptr);
+        } else {
+          resolution_callback(
+              shared_data.get(), nullptr,
+              local_to_ptr(std::get<v8::Local<v8::Value>>(result)));
+        }
+      });
+}
+
+void v8__WasmModuleCompilation__Abort(v8::WasmModuleCompilation* self) {
+  self->Abort();
+}
+
+void v8__WasmModuleCompilation__SetHasCompiledModuleBytes(
+    v8::WasmModuleCompilation* self) {
+  self->SetHasCompiledModuleBytes();
+}
+
+void v8__WasmModuleCompilation__SetMoreFunctionsCanBeSerializedCallback(
+    v8::WasmModuleCompilation* self,
+    void (*callback)(void* data, v8::CompiledWasmModule* compiled_module),
+    void* data, void (*drop_data)(void* data)) {
+  auto shared_data =
+      std::shared_ptr<void>(data, [drop_data](void* p) { drop_data(p); });
+  self->SetMoreFunctionsCanBeSerializedCallback(
+      [callback, shared_data](v8::CompiledWasmModule module) {
+        auto* heap_module = new v8::CompiledWasmModule(std::move(module));
+        callback(shared_data.get(), heap_module);
+      });
+}
+
+void v8__WasmModuleCompilation__SetUrl(v8::WasmModuleCompilation* self,
+                                       const char* url, size_t length) {
+  self->SetUrl(url, length);
+}
+
+}  // extern "C"
+
 // v8::CompiledWasmModule
 
 extern "C" {
diff --git a/src/lib.rs b/src/lib.rs
index 345cc9b7ae..305ea2cd3a 100644
--- a/src/lib.rs
+++ b/src/lib.rs
@@ -185,6 +185,7 @@ pub use value_serializer::ValueSerializerHelper;
 pub use value_serializer::ValueSerializerImpl;
 pub use wasm::CompiledWasmModule;
 pub use wasm::ModuleCachingInterface;
+pub use wasm::WasmModuleCompilation;
 pub use wasm::WasmStreaming;
 
 /// https://v8.dev/docs/version-numbers
diff --git a/src/wasm.rs b/src/wasm.rs
index fe4fb5950a..2311d2bf4b 100644
--- a/src/wasm.rs
+++ b/src/wasm.rs
@@ -1,6 +1,11 @@
 // Copyright 2019-2021 the Deno authors. All rights reserved. MIT license.
 
+use std::ffi::c_void;
+use std::ptr::null;
+use std::ptr::null_mut;
+
 use crate::ArrayBuffer;
+use crate::Isolate;
 use crate::Local;
 use crate::PinScope;
 use crate::Value;
@@ -18,8 +23,6 @@ use crate::support::Opaque;
 use crate::support::ToCFn;
 use crate::support::UnitType;
 use crate::support::char;
-use std::ptr::null;
-use std::ptr::null_mut;
 
 // Type-erased std::shared_ptr<v8::WasmStreaming>. Assumes it's safe
 // to move around (no backlinks). Not generally true for shared_ptrs
@@ -275,6 +278,209 @@ impl Drop for CompiledWasmModule {
   }
 }
 
+// Type-erased v8::WasmModuleCompilation allocated on the C++ heap.
+#[repr(C)]
+struct InternalWasmModuleCompilation(Opaque);
+
+/// An interface for asynchronous WebAssembly module compilation, to be used
+/// e.g. for implementing source phase imports.
+///
+/// Note: This interface is experimental and can change or be removed without
+/// notice.
+pub struct WasmModuleCompilation(*mut InternalWasmModuleCompilation);
+
+// OnBytesReceived can be called from any thread per V8 documentation.
+unsafe impl Send for WasmModuleCompilation {}
+
+impl WasmModuleCompilation {
+  /// Start an asynchronous module compilation. This can be called on any
+  /// thread.
+  #[inline(always)]
+  pub fn new() -> Self {
+    unsafe { WasmModuleCompilation(v8__WasmModuleCompilation__NEW()) }
+  }
+
+  /// Pass a new chunk of bytes to WebAssembly compilation. The buffer is
+  /// owned by the caller and will not be accessed after this call returns.
+  /// Can be called from any thread.
+  #[inline(always)]
+  pub fn on_bytes_received(&mut self, data: &[u8]) {
+    unsafe {
+      v8__WasmModuleCompilation__OnBytesReceived(
+        self.0,
+        data.as_ptr(),
+        data.len(),
+      );
+    }
+  }
+
+  /// Finish compilation. Must be called on the main thread after all bytes
+  /// were passed to [`Self::on_bytes_received`].
+  ///
+  /// The `resolution_callback` will eventually be called with either the
+  /// compiled module or a compilation error. The callback receives `&Isolate`
+  /// so that [`crate::Global`] handles can be created from the [`Local`]
+  /// handles to persist them beyond the callback.
+  ///
+  /// Must not be called after [`Self::abort`].
+  #[inline(always)]
+  pub fn finish(
+    self,
+    scope: &mut PinScope,
+    caching_callback: Option<ModuleCachingCallback>,
+    resolution_callback: impl FnOnce(
+      &Isolate,
+      Result<Local<'_, WasmModuleObject>, Local<'_, Value>>,
+    ) + 'static,
+  ) {
+    // Capture the isolate pointer in the closure so it doesn't need to be
+    // threaded through C++.
+    let isolate_ptr = scope.get_isolate_ptr();
+    let wrapped = move |module: *const WasmModuleObject,
+                        error: *const Value| {
+      let isolate = unsafe { Isolate::from_raw_ptr(isolate_ptr) };
+      if !module.is_null() {
+        resolution_callback(
+          &isolate,
+          Ok(unsafe { Local::from_raw(module) }.unwrap()),
+        );
+      } else {
+        resolution_callback(
+          &isolate,
+          Err(unsafe { Local::from_raw(error) }.unwrap()),
+        );
+      }
+    };
+
+    // Double-box with Option: the outer Box gives us a thin pointer suitable
+    // for void*. The Option allows the trampoline to .take() the closure
+    // (FnOnce semantics) without freeing the outer allocation, which is
+    // ref-counted by shared_ptr on the C++ side.
+    #[allow(clippy::type_complexity)]
+    let boxed: Box<
+      Option<Box<dyn FnOnce(*const WasmModuleObject, *const Value)>>,
+    > = Box::new(Some(Box::new(wrapped)));
+    let data = Box::into_raw(boxed) as *mut c_void;
+
+    unsafe {
+      v8__WasmModuleCompilation__Finish(
+        self.0,
+        scope.get_isolate_ptr(),
+        caching_callback,
+        resolution_trampoline,
+        data,
+        drop_resolution_data,
+      );
+    }
+  }
+
+  /// Abort compilation. Can be called from any thread.
+  /// Must not be called repeatedly, or after [`Self::finish`].
+  #[inline(always)]
+  pub fn abort(self) {
+    unsafe { v8__WasmModuleCompilation__Abort(self.0) }
+  }
+
+  /// Mark that the embedder has (potentially) cached compiled module bytes
+  /// (i.e. a serialized [`CompiledWasmModule`]) that could match this
+  /// compilation request. This will cause V8 to skip streaming compilation.
+  /// The embedder should then pass a caching callback to [`Self::finish`].
+  #[inline(always)]
+  pub fn set_has_compiled_module_bytes(&mut self) {
+    unsafe {
+      v8__WasmModuleCompilation__SetHasCompiledModuleBytes(self.0);
+    }
+  }
+
+  /// Sets a callback which is called whenever a significant number of new
+  /// functions are ready for serialization.
+  #[inline(always)]
+  pub fn set_more_functions_can_be_serialized_callback(
+    &mut self,
+    callback: impl Fn(CompiledWasmModule) + Send + 'static,
+  ) {
+    let boxed: Box<Box<dyn Fn(CompiledWasmModule) + Send>> =
+      Box::new(Box::new(callback));
+    let data = Box::into_raw(boxed) as *mut c_void;
+
+    unsafe {
+      v8__WasmModuleCompilation__SetMoreFunctionsCanBeSerializedCallback(
+        self.0,
+        serialization_trampoline,
+        data,
+        drop_serialization_data,
+      );
+    }
+  }
+
+  /// Sets the UTF-8 encoded source URL for the `Script` object. This must
+  /// be called before [`Self::finish`].
+  #[inline(always)]
+  pub fn set_url(&mut self, url: &str) {
+    // V8 requires the url to be null terminated.
+    let null_terminated_url = format!("{url}\0");
+    unsafe {
+      v8__WasmModuleCompilation__SetUrl(
+        self.0,
+        null_terminated_url.as_ptr() as *const char,
+        url.len(),
+      );
+    }
+  }
+}
+
+impl Default for WasmModuleCompilation {
+  fn default() -> Self {
+    Self::new()
+  }
+}
+
+impl Drop for WasmModuleCompilation {
+  fn drop(&mut self) {
+    unsafe { v8__WasmModuleCompilation__DELETE(self.0) }
+  }
+}
+
+unsafe extern "C" fn resolution_trampoline(
+  data: *mut c_void,
+  module: *const WasmModuleObject,
+  error: *const Value,
+) {
+  // Take the closure out of the Option without freeing the outer Box.
+  // The outer Box is ref-counted by shared_ptr on the C++ side and will
+  // be freed via drop_resolution_data when the last copy is destroyed.
+  let slot = unsafe {
+    &mut *(data
+      as *mut Option<Box<dyn FnOnce(*const WasmModuleObject, *const Value)>>)
+  };
+  let callback = slot.take().unwrap();
+  callback(module, error);
+}
+
+unsafe extern "C" fn drop_resolution_data(data: *mut c_void) {
+  let _ = unsafe {
+    Box::from_raw(
+      data
+        as *mut Option<Box<dyn FnOnce(*const WasmModuleObject, *const Value)>>,
+    )
+  };
+}
+
+unsafe extern "C" fn serialization_trampoline(
+  data: *mut c_void,
+  compiled_module: *mut InternalCompiledWasmModule,
+) {
+  let callback =
+    unsafe { &**(data as *const Box<dyn Fn(CompiledWasmModule) + Send>) };
+  callback(CompiledWasmModule(compiled_module));
+}
+
+unsafe extern "C" fn drop_serialization_data(data: *mut c_void) {
+  let _ = unsafe {
+    Box::from_raw(data as *mut Box<dyn Fn(CompiledWasmModule) + Send>)
+  };
+}
+
 impl WasmMemoryObject {
   /// Returns underlying ArrayBuffer.
   #[inline(always)]
@@ -380,4 +586,44 @@ unsafe extern "C" {
   fn v8__WasmMemoryObject__Buffer(
     this: *const WasmMemoryObject,
   ) -> *mut ArrayBuffer;
+
+  fn v8__WasmModuleCompilation__NEW() -> *mut InternalWasmModuleCompilation;
+  fn v8__WasmModuleCompilation__DELETE(
+    this: *mut InternalWasmModuleCompilation,
+  );
+  fn v8__WasmModuleCompilation__OnBytesReceived(
+    this: *mut InternalWasmModuleCompilation,
+    bytes: *const u8,
+    size: usize,
+  );
+  fn v8__WasmModuleCompilation__Finish(
+    this: *mut InternalWasmModuleCompilation,
+    isolate: *mut RealIsolate,
+    caching_callback: Option<ModuleCachingCallback>,
+    resolution_callback: unsafe extern "C" fn(
+      *mut c_void,
+      *const WasmModuleObject,
+      *const Value,
+    ),
+    resolution_data: *mut c_void,
+    drop_resolution_data: unsafe extern "C" fn(*mut c_void),
+  );
+  fn v8__WasmModuleCompilation__Abort(this: *mut InternalWasmModuleCompilation);
+  fn v8__WasmModuleCompilation__SetHasCompiledModuleBytes(
+    this: *mut InternalWasmModuleCompilation,
+  );
+  fn v8__WasmModuleCompilation__SetMoreFunctionsCanBeSerializedCallback(
+    this: *mut InternalWasmModuleCompilation,
+    callback: unsafe extern "C" fn(
+      *mut c_void,
+      *mut InternalCompiledWasmModule,
+    ),
+    data: *mut c_void,
+    drop_data: unsafe extern "C" fn(*mut c_void),
+  );
+  fn v8__WasmModuleCompilation__SetUrl(
+    this: *mut InternalWasmModuleCompilation,
+    url: *const char,
+    length: usize,
+  );
 }
diff --git a/tests/test_api.rs b/tests/test_api.rs
index 02b0b814b2..ecf12bd2fc 100644
--- a/tests/test_api.rs
+++ b/tests/test_api.rs
@@ -8782,6 +8782,60 @@ fn wasm_streaming_callback() {
   assert!(global.get(scope, name).unwrap().strict_equals(exception));
 }
 
+#[test]
+fn wasm_module_compilation() {
+  let _setup_guard = setup::parallel_test();
+
+  let isolate = &mut v8::Isolate::new(v8::CreateParams::default());
+  v8::scope!(let scope, isolate);
+
+  let context = v8::Context::new(scope, Default::default());
+  let scope = &mut v8::ContextScope::new(scope, context);
+
+  // Start compilation.
+  let mut compilation = v8::WasmModuleCompilation::new();
+
+  // MVP of WASM modules: magic marker + version 1.
+  compilation
+    .on_bytes_received(&[0x00, 0x61, 0x73, 0x6d, 0x01, 0x00, 0x00, 0x00]);
+
+  compilation.set_url("https://example.com/test.wasm");
+
+  // Finish compilation.
+  let result: Rc<RefCell<Option<v8::Global<v8::WasmModuleObject>>>> =
+    Rc::new(RefCell::new(None));
+  let result_clone = result.clone();
+  compilation.finish(scope, None, move |isolate, r| match r {
+    Ok(module) => {
+      result_clone
+        .borrow_mut()
+        .replace(v8::Global::new(isolate, module));
+    }
+    Err(_) => panic!("wasm compilation failed"),
+  });
+
+  // Execute pending tasks.
+  while v8::Platform::pump_message_loop(
+    &v8::V8::get_current_platform(),
+    scope,
+    false,
+  ) {}
+
+  let global_module = result.borrow_mut().take();
+  assert!(global_module.is_some());
+}
+
+#[test]
+fn wasm_module_compilation_abort() {
+  let _setup_guard = setup::parallel_test();
+
+  // Start compilation and abort it.
+  let mut compilation = v8::WasmModuleCompilation::new();
+  compilation
+    .on_bytes_received(&[0x00, 0x61, 0x73, 0x6d, 0x01, 0x00, 0x00, 0x00]);
+  compilation.abort();
+}
+
 #[test]
 fn unbound_script_conversion() {
   let _setup_guard = setup::parallel_test();