diff --git a/tools/perf/Makefile.perf b/tools/perf/Makefile.perf
index dd096aba4430..59c4e8f9b014 100644
--- a/tools/perf/Makefile.perf
+++ b/tools/perf/Makefile.perf
@@ -242,8 +242,10 @@ sub-make: fixdep
 else # force_fixdep
 
 LIBAPI_DIR      = $(srctree)/tools/lib/api/
+ifndef LIBTRACEEVENT_DYNAMIC
 LIBTRACEEVENT_DIR = $(srctree)/tools/lib/traceevent/
 LIBTRACEEVENT_PLUGINS_DIR = $(LIBTRACEEVENT_DIR)/plugins
+endif
 LIBBPF_DIR      = $(srctree)/tools/lib/bpf/
 LIBSUBCMD_DIR   = $(srctree)/tools/lib/subcmd/
 LIBSYMBOL_DIR   = $(srctree)/tools/lib/symbol/
@@ -293,6 +295,7 @@ SCRIPT_SH += perf-iostat.sh
 grep-libs = $(filter -l%,$(1))
 strip-libs = $(filter-out -l%,$(1))
 
+ifndef LIBTRACEEVENT_DYNAMIC
 ifneq ($(OUTPUT),)
   LIBTRACEEVENT_OUTPUT = $(abspath $(OUTPUT))/libtraceevent
 else
@@ -306,13 +309,16 @@ LIBTRACEEVENT = $(LIBTRACEEVENT_OUTPUT)/libtraceevent.a
 export LIBTRACEEVENT
 LIBTRACEEVENT_DYNAMIC_LIST = $(LIBTRACEEVENT_PLUGINS_OUTPUT)/libtraceevent-dynamic-list
 CFLAGS += -I$(LIBTRACEEVENT_OUTPUT)/include
-
 #
 # The static build has no dynsym table, so this does not work for
 # static build. Looks like linker starts to scream about that now
 # (in Fedora 26) so we need to switch it off for static build.
 DYNAMIC_LIST_LDFLAGS               = -Xlinker --dynamic-list=$(LIBTRACEEVENT_DYNAMIC_LIST)
 LIBTRACEEVENT_DYNAMIC_LIST_LDFLAGS = $(if $(findstring -static,$(LDFLAGS)),,$(DYNAMIC_LIST_LDFLAGS))
+else
+LIBTRACEEVENT_DYNAMIC_LIST =
+LIBTRACEEVENT_DYNAMIC_LIST_LDFLAGS =
+endif
 
 ifneq ($(OUTPUT),)
   LIBAPI_OUTPUT = $(abspath $(OUTPUT))/libapi
@@ -375,7 +381,11 @@ export PYTHON_EXTBUILD_LIB PYTHON_EXTBUILD_TMP
 python-clean := $(call QUIET_CLEAN, python) $(RM) -r $(PYTHON_EXTBUILD) $(OUTPUT)python/perf*.so
 
 PYTHON_EXT_SRCS := $(shell grep -v ^\# util/python-ext-sources)
+ifndef LIBTRACEEVENT_DYNAMIC
 PYTHON_EXT_DEPS := util/python-ext-sources util/setup.py $(LIBTRACEEVENT) $(LIBAPI)
+else
+PYTHON_EXT_DEPS := util/python-ext-sources util/setup.py $(LIBAPI)
+endif
 
 SCRIPTS = $(patsubst %.sh,%,$(SCRIPT_SH))
 
@@ -785,9 +795,12 @@ prepare: $(OUTPUT)PERF-VERSION-FILE $(OUTPUT)common-cmds.h archheaders $(drm_ioc
 	$(LIBPERF) \
 	$(LIBSUBCMD) \
 	$(LIBSYMBOL) \
-	$(LIBTRACEEVENT) \
 	bpf-skel
 
+ifndef LIBTRACEEVENT_DYNAMIC
+prepare: $(LIBTRACEEVENT)
+endif
+
 $(OUTPUT)%.o: %.c prepare FORCE
 	$(Q)$(MAKE) -f $(srctree)/tools/build/Makefile.build dir=$(build-dir) $@
 
@@ -843,6 +856,7 @@ endif
 
 $(patsubst perf-%,%.o,$(PROGRAMS)): $(wildcard */*.h)
 
+ifndef LIBTRACEEVENT_DYNAMIC
 LIBTRACEEVENT_FLAGS += plugin_dir=$(plugindir_SQ) 'EXTRA_CFLAGS=$(EXTRA_CFLAGS)' 'LDFLAGS=$(filter-out -static,$(LDFLAGS))'
 
 $(LIBTRACEEVENT): FORCE | $(LIBTRACEEVENT_OUTPUT)
@@ -872,6 +886,7 @@ install-traceevent-plugins: libtraceevent_plugins
 	$(Q)$(MAKE) -C $(LIBTRACEEVENT_PLUGINS_DIR) O=$(LIBTRACEEVENT_PLUGINS_OUTPUT) \
 		DESTDIR=$(LIBTRACEEVENT_PLUGINS_DESTDIR) prefix= \
 		$(LIBTRACEEVENT_FLAGS) install
+endif
 
 $(LIBAPI): FORCE | $(LIBAPI_OUTPUT)
 	$(Q)$(MAKE) -C $(LIBAPI_DIR) O=$(LIBAPI_OUTPUT) \
@@ -1152,7 +1167,7 @@ endif # BUILD_BPF_SKEL
 bpf-skel-clean:
 	$(call QUIET_CLEAN, bpf-skel) $(RM) -r $(SKEL_TMP_OUT) $(SKELETONS)
 
-clean:: $(LIBTRACEEVENT)-clean $(LIBAPI)-clean $(LIBBPF)-clean $(LIBSUBCMD)-clean $(LIBSYMBOL)-clean $(LIBPERF)-clean fixdep-clean python-clean bpf-skel-clean tests-coresight-targets-clean libtraceevent_plugins-clean
+clean:: $(LIBAPI)-clean $(LIBBPF)-clean $(LIBSUBCMD)-clean $(LIBSYMBOL)-clean $(LIBPERF)-clean fixdep-clean python-clean bpf-skel-clean tests-coresight-targets-clean
 	$(call QUIET_CLEAN, core-objs)  $(RM) $(LIBPERF_A) $(OUTPUT)perf-archive $(OUTPUT)perf-iostat $(LANG_BINDINGS)
 	$(Q)find $(or $(OUTPUT),.) -name '*.o' -delete -o -name '\.*.cmd' -delete -o -name '\.*.d' -delete
 	$(Q)$(RM) $(OUTPUT).config-detected
@@ -1192,6 +1207,10 @@ clean:: $(LIBTRACEEVENT)-clean $(LIBAPI)-clean $(LIBBPF)-clean $(LIBSUBCMD)-clea
 	$(call QUIET_CLEAN, Documentation) \
 	$(MAKE) -C $(DOC_DIR) O=$(OUTPUT) clean >/dev/null
 
+ifndef LIBTRACEEVENT_DYNAMIC
+clean:: $(LIBTRACEEVENT)-clean libtraceevent_plugins-clean
+endif
+
 #
 # To provide FEATURE-DUMP into $(FEATURE_DUMP_COPY)
 # file if defined, with no further action.
diff --git a/tools/perf/util/setup.py b/tools/perf/util/setup.py
index 5b1e6468d5e8..43e7ca40b2ec 100644
--- a/tools/perf/util/setup.py
+++ b/tools/perf/util/setup.py
@@ -77,7 +77,8 @@ perf = Extension('perf',
 		  include_dirs = ['util/include'],
 		  libraries = extra_libraries,
 		  extra_compile_args = cflags,
-		  extra_objects = [libtraceevent, libapikfs, libperf],
+		  extra_objects = [ x for x in [libtraceevent, libapikfs, libperf]
+                                    if x is not None],
                  )
 
 setup(name='perf',
