diff --git a/doc/global/externalsites/external-resources.qdoc b/doc/global/externalsites/external-resources.qdoc
index bd1292f4c8e..272c73b3b01 100644
--- a/doc/global/externalsites/external-resources.qdoc
+++ b/doc/global/externalsites/external-resources.qdoc
@@ -116,6 +116,11 @@
     \title CMake target_link_libraries Documentation
 */
 
+/*!
+    \externalpage https://cmake.org/cmake/help/latest/variable/BUILD_SHARED_LIBS.html
+    \title CMake BUILD_SHARED_LIBS Documentation
+*/
+
 /*!
     \externalpage https://conan.io/
     \title Conan
diff --git a/src/corelib/CMakeLists.txt b/src/corelib/CMakeLists.txt
index fb9ff76b315..eba30cbd628 100644
--- a/src/corelib/CMakeLists.txt
+++ b/src/corelib/CMakeLists.txt
@@ -357,6 +357,7 @@ qt_internal_add_module(Core
         ${corelib_extra_cmake_files}
     POLICIES
         QTP0002
+        QTP0003
 )
 _qt_internal_setup_deploy_support()
 
diff --git a/src/corelib/Qt6CoreMacros.cmake b/src/corelib/Qt6CoreMacros.cmake
index 868461dacab..f46d703f2f0 100644
--- a/src/corelib/Qt6CoreMacros.cmake
+++ b/src/corelib/Qt6CoreMacros.cmake
@@ -2612,10 +2612,31 @@ function(_qt_internal_add_library target)
     # This in contrast to CMake which defaults to STATIC.
     if(NOT arg_STATIC AND NOT arg_SHARED AND NOT arg_MODULE AND NOT arg_INTERFACE
             AND NOT arg_OBJECT)
-        if(BUILD_SHARED_LIBS OR (NOT DEFINED BUILD_SHARED_LIBS AND QT6_IS_SHARED_LIBS_BUILD))
-            set(type_to_create SHARED)
+        if(DEFINED BUILD_SHARED_LIBS AND NOT QT_BUILDING_QT AND NOT QT_BUILD_STANDALONE_TESTS)
+            __qt_internal_setup_policy(QTP0003 "6.7.0"
+                "BUILD_SHARED_LIBS is set to ${BUILD_SHARED_LIBS} but it has no effect on\
+                default library type created by Qt CMake API commands. The default library type\
+                is set to the Qt build type.\
+                This behavior can be changed by setting QTP0003 to NEW.\
+                Check https://doc.qt.io/qt-6/qt-cmake-policy-qtp0003.html for policy details."
+            )
+            qt6_policy(GET QTP0003 build_shared_libs_policy)
         else()
-            set(type_to_create STATIC)
+            set(build_shared_libs_policy "")
+        endif()
+
+        if(build_shared_libs_policy STREQUAL "NEW" OR QT_BUILDING_QT OR QT_BUILD_STANDALONE_TESTS)
+            if(BUILD_SHARED_LIBS OR (NOT DEFINED BUILD_SHARED_LIBS AND QT6_IS_SHARED_LIBS_BUILD))
+                set(type_to_create SHARED)
+            else()
+                set(type_to_create STATIC)
+            endif()
+        else()
+            if(QT6_IS_SHARED_LIBS_BUILD)
+                set(type_to_create SHARED)
+            else()
+                set(type_to_create STATIC)
+            endif()
         endif()
     endif()
 
diff --git a/src/corelib/doc/src/cmake/policy/qtp0003.qdoc b/src/corelib/doc/src/cmake/policy/qtp0003.qdoc
new file mode 100644
index 00000000000..70aef6466c9
--- /dev/null
+++ b/src/corelib/doc/src/cmake/policy/qtp0003.qdoc
@@ -0,0 +1,46 @@
+// Copyright (C) 2024 The Qt Company Ltd.
+// SPDX-License-Identifier: LicenseRef-Qt-Commercial OR GFDL-1.3-no-invariants-only
+
+/*!
+\page qt-cmake-policy-qtp0003.html
+\ingroup qt-cmake-policies
+\since 6.7
+\title QTP0003
+\keyword qt_cmake_policy_qtp0003
+
+\summary {Consider the BUILD_SHARED_LIBS value when creating Qt libraries.}
+
+This policy was introduced in Qt 6.7. The policy affects the default type of the
+libraries created using \l {Qt CMake API}{CMake Commands in Qt6 Core}, like
+\l {qt_add_library}, \l{qt_add_plugin}, \l{qt_add_qml_module}.
+
+If the policy is set to \c OLD, the default library type that is selected is
+aligned with the Qt build type, either \c shared or \c static.
+
+If the policy is set to \c NEW, the library type is selected according to the
+\l {BUILD_SHARED_LIBS}{CMake BUILD_SHARED_LIBS Documentation} value if it's set.
+If \c BUILD_SHARED_LIBS is not set, the default library type falls back to the
+Qt build type.
+
+For example, the following code will use the Qt build type as the default
+library type for the \c MyLib target, despite the fact \c BUILD_SHARED_LIBS is
+set to \c ON:
+\badcode
+set(BUILD_SHARED_LIBS ON)
+...
+qt6_add_library(MyLib sourcefile.h sourcefile.cpp)
+\endcode
+
+If you set the QTP0003 to \c NEW before the \l {qt6_add_library}{qt_add_library}
+call, \c BUILD_SHARED_LIBS will affect the library default type and \c MyLib
+will be the shared library.
+\badcode
+set(BUILD_SHARED_LIBS ON)
+...
+qt_policy(SET QTP0003 NEW)
+qt6_add_library(MyLib sourcefile.h sourcefile.cpp)
+\endcode
+
+\sa qt_policy, {Qt CMake policies}, qt_add_library
+
+*/
diff --git a/src/corelib/doc/src/cmake/qt_add_library.qdoc b/src/corelib/doc/src/cmake/qt_add_library.qdoc
index ed6e770516c..851a2d6210b 100644
--- a/src/corelib/doc/src/cmake/qt_add_library.qdoc
+++ b/src/corelib/doc/src/cmake/qt_add_library.qdoc
@@ -45,9 +45,10 @@ library type created depends on how Qt was built. If Qt was built statically,
 a static library will be created. Otherwise, a shared library will
 be created. Note that this is different to how CMake's \c{add_library()}
 command works, where the \c BUILD_SHARED_LIBS variable controls the type of
-library created. The \c{qt_add_library()} command considers
-\c BUILD_SHARED_LIBS when deciding the library type only if the variable is set
-explicitly.
+library created.
+Since 6.7, the \c{qt_add_library()} command considers \c BUILD_SHARED_LIBS
+when deciding the library type only if the variable is set explicitly and
+\l {QTP0003} is set to \c NEW.
 
 Any \c{sources} provided will be passed through to the internal call to
 \c{add_library()}.
@@ -74,6 +75,6 @@ time. In general, \c MANUAL_FINALIZATION should not be needed unless the
 project has to support CMake 3.18 or earlier.
 
 \sa {qt6_finalize_target}{qt_finalize_target()},
-    {qt6_add_executable}{qt_add_executable()}
+    {qt6_add_executable}{qt_add_executable()}, QTP0003
 
 */
diff --git a/tests/auto/cmake/CMakeLists.txt b/tests/auto/cmake/CMakeLists.txt
index 3fe358cd0b9..90f52620ad0 100644
--- a/tests/auto/cmake/CMakeLists.txt
+++ b/tests/auto/cmake/CMakeLists.txt
@@ -391,3 +391,4 @@ else()
 endif()
 
 _qt_internal_test_expect_pass(test_config_expressions)
+_qt_internal_test_expect_pass(test_QTP0003)
diff --git a/tests/auto/cmake/test_QTP0003/CMakeLists.txt b/tests/auto/cmake/test_QTP0003/CMakeLists.txt
new file mode 100644
index 00000000000..8dda76fdb04
--- /dev/null
+++ b/tests/auto/cmake/test_QTP0003/CMakeLists.txt
@@ -0,0 +1,66 @@
+# Copyright (C) 2024 The Qt Company Ltd.
+# SPDX-License-Identifier: BSD-3-Clause
+
+cmake_minimum_required(VERSION 3.16)
+
+project(test_QTP0003)
+
+find_package(Qt6 COMPONENTS Core REQUIRED)
+
+if(QT6_IS_SHARED_LIBS_BUILD)
+    set(qt_build_type "SHARED_LIBRARY")
+else()
+    set(qt_build_type "STATIC_LIBRARY")
+endif()
+
+set(BUILD_SHARED_LIBS ON)
+qt6_add_library(MyLib source.cpp)
+get_target_property(type MyLib TYPE)
+if(NOT "${type}" STREQUAL "${qt_build_type}")
+    message(FATAL_ERROR "The library uses the default type different from Qt build type when"
+        "QTP0003 is not set")
+endif()
+
+set(BUILD_SHARED_LIBS OFF)
+qt6_add_library(MyLib2 source.cpp)
+get_target_property(type MyLib2 TYPE)
+if(NOT "${type}" STREQUAL "${qt_build_type}")
+    message(FATAL_ERROR "The library uses the default type different from Qt build type when"
+        "QTP0003 is not set")
+endif()
+
+set(BUILD_SHARED_LIBS ON)
+qt_policy(SET QTP0003 OLD)
+qt6_add_library(MyLib3 source.cpp)
+get_target_property(type MyLib3 TYPE)
+if(NOT "${type}" STREQUAL "${qt_build_type}")
+    message(FATAL_ERROR "The library uses the default type different from Qt build type when"
+        "QTP0003 is set to OLD")
+endif()
+
+set(BUILD_SHARED_LIBS OFF)
+qt_policy(SET QTP0003 OLD)
+qt6_add_library(MyLib4 source.cpp)
+get_target_property(type MyLib4 TYPE)
+if(NOT "${type}" STREQUAL "${qt_build_type}")
+    message(FATAL_ERROR "The library uses the default type different from Qt build type when"
+        "QTP0003 is set to OLD")
+endif()
+
+set(BUILD_SHARED_LIBS ON)
+qt_policy(SET QTP0003 NEW)
+qt6_add_library(MyLib5 source.cpp)
+get_target_property(type MyLib5 TYPE)
+if(NOT "${type}" STREQUAL "SHARED_LIBRARY")
+    message(FATAL_ERROR "The library doesn't consider the BUILD_SHARED_LIBS when"
+        "QTP0003 is set to NEW")
+endif()
+
+set(BUILD_SHARED_LIBS OFF)
+qt_policy(SET QTP0003 NEW)
+qt6_add_library(MyLib6 source.cpp)
+get_target_property(type MyLib6 TYPE)
+if(NOT "${type}" STREQUAL "STATIC_LIBRARY")
+    message(FATAL_ERROR "The library doesn't consider the BUILD_SHARED_LIBS when"
+        "QTP0003 is set to NEW")
+endif()
diff --git a/tests/auto/cmake/test_QTP0003/source.cpp b/tests/auto/cmake/test_QTP0003/source.cpp
new file mode 100644
index 00000000000..0df705acd8e
--- /dev/null
+++ b/tests/auto/cmake/test_QTP0003/source.cpp
@@ -0,0 +1,4 @@
+// Copyright (C) 2024 The Qt Company Ltd.
+// SPDX-License-Identifier: LicenseRef-Qt-Commercial OR GPL-3.0-only WITH Qt-GPL-exception-1.0
+
+class Noop {};