diff --git a/Misc/NEWS b/Misc/NEWS
index 9f729aac9c8..81224f4135a 100644
--- a/Misc/NEWS
+++ b/Misc/NEWS
@@ -115,6 +115,8 @@ Tests
 Build
 -----
 
+- Output lib files for PGO build into PGO directory.
+
 - Pick up 32-bit launcher from PGO directory on 64-bit PGO build.
 
 - Drop PC\python_nt.h as it's not used. Add input dependency on custom
diff --git a/PCbuild/pgupdate.props b/PCbuild/pgupdate.props
index 80ee90b83e8..d775a02c73a 100644
--- a/PCbuild/pgupdate.props
+++ b/PCbuild/pgupdate.props
@@ -11,6 +11,7 @@
     <Link>
       <AdditionalManifestDependencies>%(AdditionalManifestDependencies)</AdditionalManifestDependencies>
       <LinkTimeCodeGeneration>PGUpdate</LinkTimeCodeGeneration>
+      <ImportLibrary>$(OutDir)$(TargetName).lib</ImportLibrary>
     </Link>
   </ItemDefinitionGroup>
 </Project>
\ No newline at end of file