diff --git a/.github/workflows/windows.yml b/.github/workflows/windows.yml
index b68e8814dc2..02333c9fe77 100644
--- a/.github/workflows/windows.yml
+++ b/.github/workflows/windows.yml
@@ -311,8 +311,6 @@ jobs:
           cmake -G "Visual Studio 17 2022" -A x64 `
             -DCMAKE_INSTALL_PREFIX="C:\Program Files\Open3D" `
             -DDEVELOPER_BUILD="$Env:DEVELOPER_BUILD" `
-            -DBUILD_SHARED_LIBS=OFF `
-            -DSTATIC_WINDOWS_RUNTIME=ON `
             -DBUILD_COMMON_ISPC_ISAS=ON `
             -DBUILD_AZURE_KINECT=ON `
             -DBUILD_LIBREALSENSE=ON `
diff --git a/CMakeLists.txt b/CMakeLists.txt
index 855c47e1dcb..f7c53548853 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -34,7 +34,7 @@ endif()
 include(CMakeDependentOption)
 
 # Open3D build options
-option(BUILD_SHARED_LIBS          "Build shared libraries"                   OFF)
+option(BUILD_SHARED_LIBS          "Build shared libraries"                   ON )
 option(BUILD_EXAMPLES             "Build Open3D examples programs"           ON )
 option(BUILD_UNIT_TESTS           "Build Open3D unit tests"                  OFF)
 option(BUILD_BENCHMARKS           "Build the micro benchmarks"               OFF)
diff --git a/cpp/pybind/CMakeLists.txt b/cpp/pybind/CMakeLists.txt
index 982b0eccd8f..c7f4d1f6e16 100644
--- a/cpp/pybind/CMakeLists.txt
+++ b/cpp/pybind/CMakeLists.txt
@@ -106,10 +106,9 @@ set(PYTHON_EXTRA_LIBRARIES $<TARGET_FILE:TBB::tbb>)
 if (BUILD_GUI AND CMAKE_SYSTEM_NAME STREQUAL "Linux")
     list(APPEND PYTHON_EXTRA_LIBRARIES ${CPP_LIBRARY}.1 ${CPPABI_LIBRARY})
 endif()
-if (WITH_OPENMP AND APPLE AND NOT BUILD_SHARED_LIBS)
+if (WITH_OPENMP AND APPLE)
 # Package libomp v11.1.0, if it is not installed. Later version cause crash on
-# x86_64 if PyTorch is already imported. Case of shared libopen3d.dylib is not
-# handled.
+# x86_64 if PyTorch is already imported.
 # https://github.com/microsoft/LightGBM/issues/4229
     list(APPEND PYTHON_EXTRA_LIBRARIES ${OpenMP_libomp_LIBRARY})
     execute_process(COMMAND brew list --versions libomp
diff --git a/docker/Dockerfile.wheel b/docker/Dockerfile.wheel
index 08a3ae5a583..161054fd788 100644
--- a/docker/Dockerfile.wheel
+++ b/docker/Dockerfile.wheel
@@ -132,8 +132,8 @@ COPY . /root/Open3D
 WORKDIR /root/Open3D
 
 # Build python wheel
+# Note: BUILD_SHARED_LIBS defaults to ON, which is required for Python wheels
 RUN export NPROC=$(($(nproc)+2)) \
- && export BUILD_SHARED_LIBS=OFF \
  && source /root/Open3D/util/ci_utils.sh \
  && build_pip_package build_azure_kinect build_jupyter \
  && if [ ${CI:-}a != a ]; then cd /root/Open3D/build/ && ls | grep -Ev '^lib$' | xargs rm -rf ; fi
diff --git a/util/ci_utils.sh b/util/ci_utils.sh
index dc5182f159b..aef44f0652a 100644
--- a/util/ci_utils.sh
+++ b/util/ci_utils.sh
@@ -175,8 +175,7 @@ build_pip_package() {
     echo Building with CPU only...
     mkdir -p build
     pushd build # PWD=Open3D/build
-    cmakeOptions=("-DBUILD_SHARED_LIBS=OFF"
-        "-DDEVELOPER_BUILD=$DEVELOPER_BUILD"
+    cmakeOptions=("-DDEVELOPER_BUILD=$DEVELOPER_BUILD"
         "-DBUILD_COMMON_ISPC_ISAS=ON"
         "-DBUILD_AZURE_KINECT=$BUILD_AZURE_KINECT"
         "-DBUILD_LIBREALSENSE=ON"