diff --git a/Makefile b/Makefile
index c567c4343880..681bdb5d2f41 100644
--- a/Makefile
+++ b/Makefile
@@ -832,6 +832,7 @@ endif
 
 ifndef CONFIG_DEBUG_INFO_DWARF_TOOLCHAIN_DEFAULT
 dwarf-version-$(CONFIG_DEBUG_INFO_DWARF4) := 4
+dwarf-version-$(CONFIG_DEBUG_INFO_DWARF5) := 5
 DEBUG_CFLAGS	+= -gdwarf-$(dwarf-version-y)
 endif
 
diff --git a/lib/Kconfig.debug b/lib/Kconfig.debug
index 3555edcfd4ab..ba8596464596 100644
--- a/lib/Kconfig.debug
+++ b/lib/Kconfig.debug
@@ -282,6 +282,24 @@ config DEBUG_INFO_DWARF4
 	  newer revisions of DWARF, you may wish to choose this or have your
 	  config select this.
 
+config DEBUG_INFO_DWARF5
+	bool "Generate DWARF Version 5 debuginfo"
+	depends on GCC_VERSION >= 50000 || CC_IS_CLANG
+	depends on CC_IS_GCC || $(success,$(srctree)/scripts/test_dwarf5_support.sh $(CC) $(CLANG_FLAGS))
+	depends on !DEBUG_INFO_BTF
+	help
+	  Generate DWARF v5 debug info. Requires binutils 2.35.2, gcc 5.0+ (gcc
+	  5.0+ accepts the -gdwarf-5 flag but only had partial support for some
+	  draft features until 7.0), and gdb 8.0+.
+
+	  Changes to the structure of debug info in Version 5 allow for around
+	  15-18% savings in resulting image and debug info section sizes as
+	  compared to DWARF Version 4. DWARF Version 5 standardizes previous
+	  extensions such as accelerators for symbol indexing and the format
+	  for fission (.dwo/.dwp) files. Users may not want to select this
+	  config if they rely on tooling that has not yet been updated to
+	  support DWARF Version 5.
+
 endchoice # "DWARF version"
 
 config DEBUG_INFO_BTF
diff --git a/scripts/test_dwarf5_support.sh b/scripts/test_dwarf5_support.sh
new file mode 100755
index 000000000000..c46e2456b47a
--- /dev/null
+++ b/scripts/test_dwarf5_support.sh
@@ -0,0 +1,8 @@
+#!/bin/sh
+# SPDX-License-Identifier: GPL-2.0
+
+# Test that the assembler doesn't need -Wa,-gdwarf-5 when presented with DWARF
+# v5 input, such as `.file 0` and `md5 0x00`. Should be fixed in GNU binutils
+# 2.35.2. https://sourceware.org/bugzilla/show_bug.cgi?id=25611
+echo '.file 0 "filename" md5 0x7a0b65214090b6693bd1dc24dd248245' | \
+  $* -gdwarf-5 -Wno-unused-command-line-argument -c -x assembler -o /dev/null -