diff --git a/cmake/CMakeLists.txt b/cmake/CMakeLists.txt
index c4412e0934f17..7e5896ded50ba 100644
--- a/cmake/CMakeLists.txt
+++ b/cmake/CMakeLists.txt
@@ -87,6 +87,10 @@ option(onnxruntime_USE_CUDA_NHWC_OPS "Build CUDA with NHWC op support" OFF)
 option(onnxruntime_CUDA_MINIMAL "Build CUDA without any operations apart from memcpy ops. Usefuel for a very minial TRT build" OFF)
 option(onnxruntime_ENABLE_CUDA_LINE_NUMBER_INFO "When building with CUDA support, generate device code line number information." OFF)
 option(onnxruntime_USE_OPENVINO "Build with OpenVINO support" OFF)
+option(onnxruntime_USE_OPENVINO_STATIC_LIBS "Build with OpenVINO support as Static Library" OFF)
+option(onnxruntime_USE_OPENVINO_CPU_DEVICE "Build with OpenVINO support as Static Library for CPU Device" OFF)
+option(onnxruntime_USE_OPENVINO_GPU_DEVICE "Build with OpenVINO support as Static Library for GPU Device" OFF)
+option(onnxruntime_USE_OPENVINO_NPU_DEVICE "Build with OpenVINO support as Static Library for NPU Device" OFF)
 option(onnxruntime_USE_COREML "Build with CoreML support" OFF)
 option(onnxruntime_USE_NNAPI_BUILTIN "Build with builtin NNAPI lib for Android NNAPI support" OFF)
 option(onnxruntime_USE_QNN "Build with QNN support" OFF)
@@ -140,7 +144,7 @@ option(onnxruntime_ARMNN_RELU_USE_CPU "Use the CPU implementation for the Relu o
 option(onnxruntime_ARMNN_BN_USE_CPU "Use the CPU implementation for the Batch Normalization operator for the ArmNN EP" ON)
 option(onnxruntime_ENABLE_INSTRUMENT "Enable Instrument with Event Tracing for Windows (ETW)" OFF)
 option(onnxruntime_USE_TELEMETRY "Build with Telemetry" OFF)
-cmake_dependent_option(onnxruntime_USE_MIMALLOC "Override new/delete and arena allocator with mimalloc" OFF "WIN32;NOT onnxruntime_USE_CUDA;NOT onnxruntime_USE_OPENVINO" OFF)
+cmake_dependent_option(onnxruntime_USE_MIMALLOC "Override new/delete and arena allocator with mimalloc" OFF "WIN32;NOT onnxruntime_USE_CUDA;NOT onnxruntime_USE_OPENVINO; NOT onnxruntime_USE_OPENVINO_STATIC_LIBS" OFF)
 option(onnxruntime_USE_CANN "Build with CANN support" OFF)
 option(onnxruntime_USE_ROCM "Build with AMD GPU support" OFF)
 option(onnxruntime_USE_TVM "Build with TVM support" OFF)
@@ -606,7 +610,7 @@ if (WIN32)
     # structure was padded due to __declspec(align())
     list(APPEND ORT_WARNING_FLAGS "/wd4324")
     # warning C4800: Implicit conversion from 'X' to bool. Possible information loss
-    if (onnxruntime_USE_OPENVINO)
+    if (onnxruntime_USE_OPENVINO OR onnxruntime_USE_OPENVINO_STATIC_LIBS)
        list(APPEND ORT_WARNING_FLAGS "/wd4800")
     endif()
     # operator 'operator-name': deprecated between enumerations of different types
@@ -782,7 +786,7 @@ if (onnxruntime_USE_DNNL)
     list(APPEND ONNXRUNTIME_PROVIDER_NAMES dnnl)
     list(APPEND ORT_PROVIDER_CMAKE_FLAGS -Donnxruntime_USE_DNNL=1)
 endif()
-if (onnxruntime_USE_OPENVINO)
+if (onnxruntime_USE_OPENVINO OR onnxruntime_USE_OPENVINO_STATIC_LIBS)
     list(APPEND ORT_PROVIDER_FLAGS -DUSE_OPENVINO=1)
     list(APPEND ONNXRUNTIME_PROVIDER_NAMES openvino)
     list(APPEND ORT_PROVIDER_CMAKE_FLAGS -Donnxruntime_USE_OPENVINO=1)
@@ -1343,7 +1347,7 @@ if (onnxruntime_ENABLE_TRAINING_APIS)
   )
 endif()
 
-if (onnxruntime_USE_OPENVINO)
+if (onnxruntime_USE_OPENVINO OR onnxruntime_USE_OPENVINO_STATIC_LIBS)
 
   add_definitions(-DUSE_OPENVINO=1)
 
diff --git a/cmake/onnxruntime_providers_openvino.cmake b/cmake/onnxruntime_providers_openvino.cmake
index 5876b2b5c448b..70754beb27c57 100644
--- a/cmake/onnxruntime_providers_openvino.cmake
+++ b/cmake/onnxruntime_providers_openvino.cmake
@@ -25,6 +25,73 @@
     unset(CMAKE_MAP_IMPORTED_CONFIG_RELWITHDEBINFO)
   endif()
 
+  if(onnxruntime_USE_OPENVINO_STATIC_LIBS)
+    # Get the INTEL_OPENVINO_DIR environment variable
+    file(TO_CMAKE_PATH "$ENV{INTEL_OPENVINO_DIR}" OpenVINO_BASE_DIR)
+
+    # Define the suffix path
+    set(OPENVINO_SUFFIX_PATH "runtime/lib/intel64/Release")
+
+    # Combine the base directory with the suffix path
+    file(TO_CMAKE_PATH "${OpenVINO_BASE_DIR}/${OPENVINO_SUFFIX_PATH}" OPENVINO_STATIC_LIB_DIR)
+
+    # Check if the combined directory exists, If the directory exists, proceed with setting up the static libraries
+    if(IS_DIRECTORY "${OPENVINO_STATIC_LIB_DIR}")
+      # Initialize an empty list to hold the found static libraries
+      set(OPENVINO_FOUND_STATIC_LIBS)
+
+      # Use the appropriate file extension for static libraries based on the host operating system
+      if(CMAKE_HOST_WIN32)
+        set(OPENVINO_STATIC_LIB_EXT "*.lib")
+      elseif(CMAKE_HOST_UNIX)
+        set(OPENVINO_STATIC_LIB_EXT "*.a")
+      endif()
+
+      # Use GLOB_RECURSE to find all static library files in the specified directory based on the OS
+      file(GLOB_RECURSE OPENVINO_POSSIBLE_LIBS "${OPENVINO_STATIC_LIB_DIR}/${OPENVINO_STATIC_LIB_EXT}")
+
+      # Copy all libraries to OPENVINO_COMMON_LIBS
+      set(OPENVINO_COMMON_LIBS ${OPENVINO_POSSIBLE_LIBS})
+
+      # Define the patterns for device-specific libraries
+      set(OPENVINO_DEVICE_PATTERNS "cpu" "gpu" "npu")
+
+      # Filter out device-specific libraries from OPENVINO_COMMON_LIBS
+      foreach(device_pattern IN LISTS OPENVINO_DEVICE_PATTERNS)
+        foreach(lib IN LISTS OPENVINO_COMMON_LIBS)
+          string(FIND "${lib}" "${device_pattern}" device_pos)
+          if(NOT device_pos EQUAL -1)
+            list(REMOVE_ITEM OPENVINO_COMMON_LIBS "${lib}")
+          endif()
+        endforeach()
+      endforeach()
+
+      # Iterate over each possible common library and check if it exists before appending
+      foreach(lib ${OPENVINO_COMMON_LIBS})
+        if(EXISTS "${lib}")
+          list(APPEND OPENVINO_FOUND_STATIC_LIBS "${lib}")
+        endif()
+      endforeach()
+
+      # Iterate over each possible library for the specified device and check if it exists before appending
+      foreach(lib ${OPENVINO_POSSIBLE_LIBS})
+        if(EXISTS "${lib}")
+          # Check device-specific variables and append only the required libraries
+          if((DEFINED onnxruntime_USE_OPENVINO_CPU_DEVICE AND onnxruntime_USE_OPENVINO_CPU_DEVICE AND lib MATCHES ".*cpu.*") OR
+            (DEFINED onnxruntime_USE_OPENVINO_GPU_DEVICE AND onnxruntime_USE_OPENVINO_GPU_DEVICE AND lib MATCHES ".*gpu.*") OR
+            (DEFINED onnxruntime_USE_OPENVINO_NPU_DEVICE AND onnxruntime_USE_OPENVINO_NPU_DEVICE AND lib MATCHES ".*npu.*"))
+            list(APPEND OPENVINO_FOUND_STATIC_LIBS "${lib}")
+          endif()
+        endif()
+      endforeach()
+
+      # Append the found static library files to the OPENVINO_LIB_LIST
+      list(APPEND OPENVINO_LIB_LIST ${OPENVINO_FOUND_STATIC_LIBS})
+    else()
+      message(FATAL_ERROR "The specified OpenVINO static library directory does not exist: ${OPENVINO_STATIC_LIB_DIR}")
+    endif()
+  endif()
+
   list(APPEND OPENVINO_LIB_LIST openvino::frontend::onnx openvino::runtime ${PYTHON_LIBRARIES})
   if ((DEFINED ENV{OPENCL_LIBS}) AND (DEFINED ENV{OPENCL_INCS}))
     add_definitions(-DIO_BUFFER_ENABLED=1)
@@ -38,6 +105,8 @@
     DESTINATION ${CMAKE_INSTALL_INCLUDEDIR}/onnxruntime/)
   set_target_properties(onnxruntime_providers_openvino PROPERTIES LINKER_LANGUAGE CXX)
   set_target_properties(onnxruntime_providers_openvino PROPERTIES FOLDER "ONNXRuntime")
+  set_target_properties(onnxruntime_providers_openvino PROPERTIES INTERPROCEDURAL_OPTIMIZATION_RELEASE ON INTERPROCEDURAL_OPTIMIZATION_DEBUG ON INTERPROCEDURAL_OPTIMIZATION_RELWITHDEBINFO ON)
+
   if(NOT MSVC)
     target_compile_options(onnxruntime_providers_openvino PRIVATE "-Wno-parentheses")
   endif()
diff --git a/tools/ci_build/build.py b/tools/ci_build/build.py
index b73a17db3ce13..f345b87fb44c1 100644
--- a/tools/ci_build/build.py
+++ b/tools/ci_build/build.py
@@ -547,6 +547,9 @@ def convert_arg_line_to_args(self, arg_line):
         type=_openvino_verify_device_type,
         help="Build with OpenVINO for specific hardware.",
     )
+    parser.add_argument("--use_openvino_static_libs", type=str, default="",
+                        help="Build with OpenVINO built as Static Library."
+                        "Specify the device(s) to use in the format [CPU,GPU,NPU]")
     parser.add_argument(
         "--dnnl_aarch64_runtime", action="store", default="", type=str.lower, help="e.g. --dnnl_aarch64_runtime acl"
     )
@@ -1242,6 +1245,22 @@ def generate_build_tree(
             "-Donnxruntime_USE_OPENVINO_MULTI=" + ("ON" if args.use_openvino.startswith("MULTI") else "OFF"),
             "-Donnxruntime_USE_OPENVINO_AUTO=" + ("ON" if args.use_openvino.startswith("AUTO") else "OFF"),
         ]
+        if args.use_openvino_static_libs:
+            cmake_args += ["-Donnxruntime_USE_OPENVINO_STATIC_LIBS=ON"]
+            devices_str = args.use_openvino_static_libs.strip('[]')
+            devices = re.split(r',\s*', devices_str)
+
+            valid_devices = {'CPU', 'GPU', 'NPU'}
+            if not all(device in valid_devices for device in devices):
+                raise ValueError("Invalid device specified. Valid devices are: CPU, GPU, NPU")
+
+            for device in devices:
+                if device == 'CPU':
+                    cmake_args.append("-Donnxruntime_USE_OPENVINO_CPU_DEVICE=ON")
+                if device == 'GPU':
+                    cmake_args.append("-Donnxruntime_USE_OPENVINO_GPU_DEVICE=ON")
+                if device == 'NPU':
+                    cmake_args.append("-Donnxruntime_USE_OPENVINO_NPU_DEVICE=ON")
 
     # VitisAI and OpenVINO providers currently only support full_protobuf option.
     if args.use_full_protobuf or args.use_openvino or args.use_vitisai or args.gen_doc: