diff --git a/bindings/ocaml/README.txt b/bindings/ocaml/README.txt
new file mode 100644
index 00000000000..68216b6792a
--- /dev/null
+++ b/bindings/ocaml/README.txt
@@ -0,0 +1,29 @@
+This directory contains LLVM bindings for the OCaml programming language
+(http://ocaml.org).
+
+Prerequisites
+-------------
+
+* OCaml 4.00.0+.
+* ctypes 0.4+.
+* oUnit 2+ (only required for tests).
+* CMake (to build LLVM).
+
+Building the bindings
+---------------------
+
+If all dependencies are present, the bindings will be built and installed
+as a part of the default CMake configuration, with no further action.
+They will only work with the specific OCaml compiler detected during the build.
+
+The bindings can also be built out-of-tree, i.e. targeting a preinstalled
+LLVM. To do this, configure the LLVM build tree as follows:
+
+    $ cmake -DLLVM_OCAML_OUT_OF_TREE=TRUE \
+            -DCMAKE_INSTALL_PREFIX=[OCaml install prefix] \
+            [... any other options]
+
+then build and install it as:
+
+    $ make ocaml_all
+    $ cmake -P bindings/ocaml/cmake_install.cmake
diff --git a/cmake/config-ix.cmake b/cmake/config-ix.cmake
index 06197633568..27bdd72ebcd 100755
--- a/cmake/config-ix.cmake
+++ b/cmake/config-ix.cmake
@@ -565,6 +565,7 @@ if(CMAKE_HOST_APPLE AND APPLE)
   endif()
 endif()
 
+# Keep the version requirements in sync with bindings/ocaml/README.txt.
 include(FindOCaml)
 include(AddOCaml)
 if(WIN32)
diff --git a/cmake/modules/AddOCaml.cmake b/cmake/modules/AddOCaml.cmake
index e3dd1d84077..4bcd475998c 100644
--- a/cmake/modules/AddOCaml.cmake
+++ b/cmake/modules/AddOCaml.cmake
@@ -170,9 +170,13 @@ function(add_ocaml_library name)
     add_dependencies("ocaml_${name}" "ocaml_${ocaml_dep}")
   endforeach()
 
-  foreach( llvm_lib ${llvm_libs} )
-    add_dependencies("ocaml_${name}" "${llvm_lib}")
-  endforeach()
+  if( NOT LLVM_OCAML_OUT_OF_TREE )
+    foreach( llvm_lib ${llvm_libs} )
+      add_dependencies("ocaml_${name}" "${llvm_lib}")
+    endforeach()
+  endif()
+
+  add_dependencies("ocaml_all" "ocaml_${name}")
 
   set(install_files)
   set(install_shlibs)
@@ -205,3 +209,5 @@ function(add_ocaml_library name)
       VERBATIM)
   endforeach()
 endfunction()
+
+add_custom_target("ocaml_all")