diff --git a/ChangeLog.d/fix-dependency-on-generated-files.txt b/ChangeLog.d/fix-dependency-on-generated-files.txt
new file mode 100644
index 0000000000..b3e7e4e16b
--- /dev/null
+++ b/ChangeLog.d/fix-dependency-on-generated-files.txt
@@ -0,0 +1,3 @@
+Bugfix
+    * Fix potential CMake parallel build failure when building both the static
+      and shared libraries.
diff --git a/library/CMakeLists.txt b/library/CMakeLists.txt
index b2c21fab35..79b532eb98 100644
--- a/library/CMakeLists.txt
+++ b/library/CMakeLists.txt
@@ -188,12 +188,18 @@ if(GEN_FILES)
             ${CMAKE_CURRENT_SOURCE_DIR}/../scripts/data_files/driver_templates/psa_crypto_driver_wrappers_no_static.c.jinja
     )
 
+    add_custom_target(${MBEDTLS_TARGET_PREFIX}mbedcrypto_generated_files_target
+        DEPENDS
+            ${CMAKE_CURRENT_BINARY_DIR}/error.c
+            ${CMAKE_CURRENT_BINARY_DIR}/version_features.c
+            ${CMAKE_CURRENT_BINARY_DIR}/psa_crypto_driver_wrappers.h
+            ${CMAKE_CURRENT_BINARY_DIR}/psa_crypto_driver_wrappers_no_static.c
+    )
 
-else()
-    link_to_source(error.c)
-    link_to_source(version_features.c)
-    link_to_source(ssl_debug_helpers_generated.c)
-    link_to_source(psa_crypto_driver_wrappers_no_static.c)
+    add_custom_target(${MBEDTLS_TARGET_PREFIX}mbedtls_generated_files_target
+        DEPENDS
+            ${CMAKE_CURRENT_BINARY_DIR}/ssl_debug_helpers_generated.c
+    )
 endif()
 
 if(CMAKE_COMPILER_IS_GNUCC)
@@ -295,6 +301,13 @@ if(USE_STATIC_MBEDTLS_LIBRARY)
     add_library(${mbedtls_static_target} STATIC ${src_tls})
     set_target_properties(${mbedtls_static_target} PROPERTIES OUTPUT_NAME mbedtls)
     target_link_libraries(${mbedtls_static_target} PUBLIC ${libs} ${mbedx509_static_target})
+
+    if(GEN_FILES)
+        add_dependencies(${mbedcrypto_static_target}
+            ${MBEDTLS_TARGET_PREFIX}mbedcrypto_generated_files_target)
+        add_dependencies(${mbedtls_static_target}
+            ${MBEDTLS_TARGET_PREFIX}mbedtls_generated_files_target)
+    endif()
 endif(USE_STATIC_MBEDTLS_LIBRARY)
 
 if(USE_SHARED_MBEDTLS_LIBRARY)
@@ -318,6 +331,13 @@ if(USE_SHARED_MBEDTLS_LIBRARY)
     add_library(${mbedtls_target} SHARED ${src_tls})
     set_target_properties(${mbedtls_target} PROPERTIES VERSION 3.6.4 SOVERSION 21)
     target_link_libraries(${mbedtls_target} PUBLIC ${libs} ${mbedx509_target})
+
+    if(GEN_FILES)
+        add_dependencies(${mbedcrypto_target}
+            ${MBEDTLS_TARGET_PREFIX}mbedcrypto_generated_files_target)
+        add_dependencies(${mbedtls_target}
+            ${MBEDTLS_TARGET_PREFIX}mbedtls_generated_files_target)
+    endif()
 endif(USE_SHARED_MBEDTLS_LIBRARY)
 
 foreach(target IN LISTS target_libraries)