diff --git a/compiler/rustc_target/src/spec/mod.rs b/compiler/rustc_target/src/spec/mod.rs
index 4a82a8bd888e6..e4b44e8b686c1 100644
--- a/compiler/rustc_target/src/spec/mod.rs
+++ b/compiler/rustc_target/src/spec/mod.rs
@@ -1624,6 +1624,7 @@ supported_targets! {
     ("wasm32v1-none", wasm32v1_none),
     ("wasm32-wasip1", wasm32_wasip1),
     ("wasm32-wasip2", wasm32_wasip2),
+    ("wasm32-wasip3", wasm32_wasip3),
     ("wasm32-wasip1-threads", wasm32_wasip1_threads),
     ("wasm32-wali-linux-musl", wasm32_wali_linux_musl),
     ("wasm64-unknown-unknown", wasm64_unknown_unknown),
diff --git a/compiler/rustc_target/src/spec/targets/wasm32_wasip3.rs b/compiler/rustc_target/src/spec/targets/wasm32_wasip3.rs
new file mode 100644
index 0000000000000..e3d5e6542c263
--- /dev/null
+++ b/compiler/rustc_target/src/spec/targets/wasm32_wasip3.rs
@@ -0,0 +1,20 @@
+//! The `wasm32-wasip3` target is the next in the chain of `wasm32-wasip1`, then
+//! `wasm32-wasip2`, then WASIp3. The main feature of WASIp3 is native async
+//! support in the component model itself.
+//!
+//! Like `wasm32-wasip2` this target produces a component by default. Support
+//! for `wasm32-wasip3` is very early as of the time of this writing so
+//! components produced will still import WASIp2 APIs, but that's ok since it's
+//! all component-model-level imports anyway. Over time the imports of the
+//! standard library will change to WASIp3.
+
+use crate::spec::Target;
+
+pub(crate) fn target() -> Target {
+    // As of now WASIp3 is a lightly edited wasip2 target, so start with that
+    // and this may grow over time as more features are supported.
+    let mut target = super::wasm32_wasip2::target();
+    target.llvm_target = "wasm32-wasip3".into();
+    target.options.env = "p3".into();
+    target
+}
diff --git a/library/std/Cargo.toml b/library/std/Cargo.toml
index 888914a2f772e..779b07ce240a6 100644
--- a/library/std/Cargo.toml
+++ b/library/std/Cargo.toml
@@ -85,6 +85,11 @@ wasip2 = { version = '0.14.4', features = [
     'rustc-dep-of-std',
 ], default-features = false, package = 'wasi' }
 
+[target.'cfg(all(target_os = "wasi", target_env = "p3"))'.dependencies]
+wasip2 = { version = '0.14.4', features = [
+    'rustc-dep-of-std',
+], default-features = false, package = 'wasi' }
+
 [target.'cfg(target_os = "uefi")'.dependencies]
 r-efi = { version = "5.2.0", features = ['rustc-dep-of-std'] }
 r-efi-alloc = { version = "2.0.0", features = ['rustc-dep-of-std'] }
diff --git a/library/std/src/os/mod.rs b/library/std/src/os/mod.rs
index 96d9bfae8ca32..fd7a11433af1b 100644
--- a/library/std/src/os/mod.rs
+++ b/library/std/src/os/mod.rs
@@ -103,7 +103,7 @@ pub mod linux;
         all(target_vendor = "fortanix", target_env = "sgx")
     )
 )))]
-#[cfg(any(target_os = "wasi", doc))]
+#[cfg(any(target_os = "wasi", any(target_env = "p1", target_env = "p2"), doc))]
 pub mod wasi;
 
 #[cfg(any(all(target_os = "wasi", target_env = "p2"), doc))]
diff --git a/library/std/src/sys/args/mod.rs b/library/std/src/sys/args/mod.rs
index e11e8e5430f06..75c59da721e19 100644
--- a/library/std/src/sys/args/mod.rs
+++ b/library/std/src/sys/args/mod.rs
@@ -36,7 +36,7 @@ cfg_select! {
         mod wasip1;
         pub use wasip1::*;
     }
-    all(target_os = "wasi", target_env = "p2") => {
+    all(target_os = "wasi", any(target_env = "p2", target_env = "p3")) => {
         mod wasip2;
         pub use wasip2::*;
     }
diff --git a/library/std/src/sys/net/connection/mod.rs b/library/std/src/sys/net/connection/mod.rs
index 7f9636a8ccfd6..41e7159f909ae 100644
--- a/library/std/src/sys/net/connection/mod.rs
+++ b/library/std/src/sys/net/connection/mod.rs
@@ -3,7 +3,7 @@ cfg_select! {
         all(target_family = "unix", not(target_os = "l4re")),
         target_os = "windows",
         target_os = "hermit",
-        all(target_os = "wasi", target_env = "p2"),
+        all(target_os = "wasi", any(target_env = "p2", target_env = "p3")),
         target_os = "solid_asp3",
     ) => {
         mod socket;
diff --git a/library/std/src/sys/net/connection/socket/mod.rs b/library/std/src/sys/net/connection/socket/mod.rs
index 1dd06e97bbabd..e59d01bdd9bb1 100644
--- a/library/std/src/sys/net/connection/socket/mod.rs
+++ b/library/std/src/sys/net/connection/socket/mod.rs
@@ -25,7 +25,7 @@ cfg_select! {
         mod unix;
         pub use unix::*;
     }
-    all(target_os = "wasi", target_env = "p2") => {
+    all(target_os = "wasi", any(target_env = "p2", target_env = "p3")) => {
         mod wasip2;
         pub use wasip2::*;
     }
diff --git a/library/std/src/sys/pal/mod.rs b/library/std/src/sys/pal/mod.rs
index dd5e83ee570b6..9e964540a87c1 100644
--- a/library/std/src/sys/pal/mod.rs
+++ b/library/std/src/sys/pal/mod.rs
@@ -49,7 +49,7 @@ cfg_select! {
         mod vexos;
         pub use self::vexos::*;
     }
-    all(target_os = "wasi", target_env = "p2") => {
+    all(target_os = "wasi", any(target_env = "p2", target_env = "p3")) => {
         mod wasip2;
         pub use self::wasip2::*;
     }
diff --git a/library/std/src/sys/random/mod.rs b/library/std/src/sys/random/mod.rs
index 3c5a4c82a9f1e..ec81d89a0f3af 100644
--- a/library/std/src/sys/random/mod.rs
+++ b/library/std/src/sys/random/mod.rs
@@ -90,7 +90,7 @@ cfg_select! {
         mod wasip1;
         pub use wasip1::fill_bytes;
     }
-    all(target_os = "wasi", target_env = "p2") => {
+    all(target_os = "wasi", any(target_env = "p2", target_env = "p3")) => {
         mod wasip2;
         pub use wasip2::{fill_bytes, hashmap_random_keys};
     }
@@ -115,7 +115,7 @@ cfg_select! {
     target_os = "linux",
     target_os = "android",
     all(target_family = "wasm", target_os = "unknown"),
-    all(target_os = "wasi", target_env = "p2"),
+    all(target_os = "wasi", not(target_env = "p1")),
     target_os = "xous",
     target_os = "vexos",
 )))]
diff --git a/library/std/src/sys/stdio/mod.rs b/library/std/src/sys/stdio/mod.rs
index 404ac87792696..660317e3ea844 100644
--- a/library/std/src/sys/stdio/mod.rs
+++ b/library/std/src/sys/stdio/mod.rs
@@ -37,7 +37,7 @@ cfg_select! {
         mod wasip1;
         pub use wasip1::*;
     }
-    all(target_os = "wasi", target_env = "p2") => {
+    all(target_os = "wasi", any(target_env = "p2", target_env = "p3")) => {
         mod wasip2;
         pub use wasip2::*;
     }
diff --git a/library/std/src/sys/thread/mod.rs b/library/std/src/sys/thread/mod.rs
index 3bd83dd760ac9..a20b2a3ddd8ce 100644
--- a/library/std/src/sys/thread/mod.rs
+++ b/library/std/src/sys/thread/mod.rs
@@ -99,7 +99,7 @@ cfg_select! {
         #[cfg(not(target_feature = "atomics"))]
         pub use unsupported::{Thread, available_parallelism};
     }
-    all(target_os = "wasi", target_env = "p2") => {
+    all(target_os = "wasi", any(target_env = "p2", target_env = "p3")) => {
         mod wasip2;
         pub use wasip2::{sleep, sleep_until};
         #[expect(dead_code)]
@@ -146,7 +146,7 @@ cfg_select! {
     target_os = "hurd",
     target_os = "fuchsia",
     target_os = "vxworks",
-    all(target_os = "wasi", target_env = "p2"),
+    all(target_os = "wasi", not(target_env = "p1")),
 )))]
 pub fn sleep_until(deadline: crate::time::Instant) {
     use crate::time::Instant;
diff --git a/src/bootstrap/src/core/build_steps/compile.rs b/src/bootstrap/src/core/build_steps/compile.rs
index 96b4e15433f7e..715f7abe9477f 100644
--- a/src/bootstrap/src/core/build_steps/compile.rs
+++ b/src/bootstrap/src/core/build_steps/compile.rs
@@ -430,6 +430,16 @@ fn copy_self_contained_objects(
                 target.triple
             )
         });
+
+        // wasm32-wasip3 doesn't exist in wasi-libc yet, so instead use libs
+        // from the wasm32-wasip2 target. Once wasi-libc supports wasip3 this
+        // should be deleted and the native objects should be used.
+        let srcdir = if target == "wasm32-wasip3" {
+            assert!(!srcdir.exists(), "wasip3 support is in wasi-libc, this should be updated now");
+            builder.wasi_libdir(TargetSelection::from_user("wasm32-wasip2")).unwrap()
+        } else {
+            srcdir
+        };
         for &obj in &["libc.a", "crt1-command.o", "crt1-reactor.o"] {
             copy_and_stamp(
                 builder,
diff --git a/src/doc/rustc/src/SUMMARY.md b/src/doc/rustc/src/SUMMARY.md
index 67882bb38132a..1965a1b25498b 100644
--- a/src/doc/rustc/src/SUMMARY.md
+++ b/src/doc/rustc/src/SUMMARY.md
@@ -132,6 +132,7 @@
     - [wasm32-wasip1](platform-support/wasm32-wasip1.md)
     - [wasm32-wasip1-threads](platform-support/wasm32-wasip1-threads.md)
     - [wasm32-wasip2](platform-support/wasm32-wasip2.md)
+    - [wasm32-wasip3](platform-support/wasm32-wasip3.md)
     - [wasm32-wali-linux-musl](platform-support/wasm32-wali-linux.md)
     - [wasm32-unknown-emscripten](platform-support/wasm32-unknown-emscripten.md)
     - [wasm32-unknown-unknown](platform-support/wasm32-unknown-unknown.md)
diff --git a/src/doc/rustc/src/platform-support.md b/src/doc/rustc/src/platform-support.md
index d0b6ed51bc163..c23d7563aedb5 100644
--- a/src/doc/rustc/src/platform-support.md
+++ b/src/doc/rustc/src/platform-support.md
@@ -198,6 +198,7 @@ target | std | notes
 [`wasm32-wasip1`](platform-support/wasm32-wasip1.md) | ✓ | WebAssembly with WASIp1
 [`wasm32-wasip1-threads`](platform-support/wasm32-wasip1-threads.md) | ✓ | WebAssembly with WASI Preview 1 and threads
 [`wasm32-wasip2`](platform-support/wasm32-wasip2.md) | ✓ | WebAssembly with WASIp2
+[`wasm32-wasip3`](platform-support/wasm32-wasip3.md) | ✓ | WebAssembly with WASIp3
 [`wasm32v1-none`](platform-support/wasm32v1-none.md) | * | WebAssembly limited to 1.0 features and no imports
 [`x86_64-apple-ios`](platform-support/apple-ios.md) | ✓ | 64-bit x86 iOS
 [`x86_64-apple-ios-macabi`](platform-support/apple-ios-macabi.md) | ✓ | Mac Catalyst on x86_64
diff --git a/src/doc/rustc/src/platform-support/wasm32-wasip3.md b/src/doc/rustc/src/platform-support/wasm32-wasip3.md
new file mode 100644
index 0000000000000..e8063a1bdcfed
--- /dev/null
+++ b/src/doc/rustc/src/platform-support/wasm32-wasip3.md
@@ -0,0 +1,83 @@
+# `wasm32-wasip3`
+
+**Tier: 3**
+
+The `wasm32-wasip3` target is the next stage of evolution of the
+[`wasm32-wasip2`](./wasm32-wasip2.md) target. The `wasm32-wasip3` target enables
+the Rust standard library to use WASIp3 APIs to implement various pieces of
+functionality. WASIp3 brings native async support over WASIp2, which integrates
+well with Rust's `async` ecosystem.
+
+> **Note**: As of 2025-10-01 WASIp3 has not yet been approved by the WASI
+> subgroup of the WebAssembly Community Group. Development is expected to
+> conclude in late 2025 or early 2026. Until then the Rust standard library
+> won't actually use WASIp3 APIs on the `wasm32-wasip3` target as they are not
+> yet stable and would reduce the stability of this target. Once WASIp3 is
+> approved, however, the standard library will update to use WASIp3 natively.
+
+> **Note**: This target does not yet build as of 2025-10-01 due to and update
+> needed in the `libc` crate. Using it will require a `[patch]` for now.
+
+> **Note**: Until the standard library is fully migrated to use the `wasip3`
+> crate then components produced for `wasm32-wasip3` may import WASIp2 APIs.
+> This is considered a transitionary phase until fully support of libstd is
+> implemented.
+
+## Target maintainers
+
+[@alexcrichton](https://github.com/alexcrichton)
+
+## Requirements
+
+This target is cross-compiled. The target supports `std` fully.
+
+## Platform requirements
+
+The WebAssembly runtime should support both WASIp2 and WASIp3. Runtimes also
+are required to support components since this target outputs a component as
+opposed to a core wasm module. Two example runtimes for WASIp3 are [Wasmtime]
+and [Jco].
+
+[Wasmtime]: https://wasmtime.dev/
+[Jco]: https://github.com/bytecodealliance/jco
+
+## Building the target
+
+To build this target first acquire a copy of
+[`wasi-sdk`](https://github.com/WebAssembly/wasi-sdk/). At this time version 22
+is the minimum needed.
+
+Next configure the `WASI_SDK_PATH` environment variable to point to where this
+is installed. For example:
+
+```text
+export WASI_SDK_PATH=/path/to/wasi-sdk-22.0
+```
+
+Next be sure to enable LLD when building Rust from source as LLVM's `wasm-ld`
+driver for LLD is required when linking WebAssembly code together. Rust's build
+system will automatically pick up any necessary binaries and programs from
+`WASI_SDK_PATH`.
+
+## Testing
+
+This target is not tested in CI at this time. Locally it can be tested with a
+`wasmtime` binary in `PATH` like so:
+
+```text
+./x.py test --target wasm32-wasip3 tests/ui
+```
+
+## Conditionally compiling code
+
+It's recommended to conditionally compile code for this target with:
+
+```text
+#[cfg(all(target_os = "wasi", target_env = "p3"))]
+```
+
+## Enabled WebAssembly features
+
+The default set of WebAssembly features enabled for compilation is currently the
+same as [`wasm32-unknown-unknown`](./wasm32-unknown-unknown.md). See the
+documentation there for more information.