diff --git a/base/loading.jl b/base/loading.jl
index 1ea4412ecc68f..3c672d075523d 100644
--- a/base/loading.jl
+++ b/base/loading.jl
@@ -1948,7 +1948,7 @@ function _require(pkg::PkgId, env=nothing)
             end
         end
 
-        if JLOptions().use_compiled_modules != 0
+        if JLOptions().use_compiled_modules == 1
             if (0 == ccall(:jl_generating_output, Cint, ())) || (JLOptions().incremental != 0)
                 if !pkg_precompile_attempted && isinteractive() && isassigned(PKG_PRECOMPILE_HOOK)
                     pkg_precompile_attempted = true
diff --git a/base/util.jl b/base/util.jl
index 3ccdd0a37ae68..0a983d454b795 100644
--- a/base/util.jl
+++ b/base/util.jl
@@ -205,6 +205,7 @@ function julia_cmd(julia=joinpath(Sys.BINDIR, julia_exename()); cpu_target::Unio
     end
     opts.can_inline == 0 && push!(addflags, "--inline=no")
     opts.use_compiled_modules == 0 && push!(addflags, "--compiled-modules=no")
+    opts.use_compiled_modules == 2 && push!(addflags, "--compiled-modules=existing")
     opts.opt_level == 2 || push!(addflags, "-O$(opts.opt_level)")
     opts.opt_level_min == 0 || push!(addflags, "--min-optlevel=$(opts.opt_level_min)")
     push!(addflags, "-g$(opts.debug_level)")
diff --git a/doc/src/manual/command-line-interface.md b/doc/src/manual/command-line-interface.md
index 01e2863f56e64..d52ff1bd499f7 100644
--- a/doc/src/manual/command-line-interface.md
+++ b/doc/src/manual/command-line-interface.md
@@ -101,7 +101,7 @@ The following is a complete list of command-line switches available when launchi
 |`--startup-file={yes*\|no}`            |Load `JULIA_DEPOT_PATH/config/startup.jl`; if `JULIA_DEPOT_PATH` environment variable is unset, load `~/.julia/config/startup.jl`|
 |`--handle-signals={yes*\|no}`          |Enable or disable Julia's default signal handlers|
 |`--sysimage-native-code={yes*\|no}`    |Use native code from system image if available|
-|`--compiled-modules={yes*\|no}`        |Enable or disable incremental precompilation of modules|
+|`--compiled-modules={yes*\|no|existing}` |Enable or disable incremental precompilation of modules. The `existing` option allows use of existing compiled modules that were previously precompiled, but disallows creation of new precompile files.|
 |`--pkgimages={yes*\|no}`               |Enable or disable usage of native code caching in the form of pkgimages|
 |`-e`, `--eval <expr>`                  |Evaluate `<expr>`|
 |`-E`, `--print <expr>`                 |Evaluate `<expr>` and display the result|
diff --git a/src/jloptions.c b/src/jloptions.c
index b520305a4bdfe..21a7e81bb9743 100644
--- a/src/jloptions.c
+++ b/src/jloptions.c
@@ -110,7 +110,7 @@ static const char opts[]  =
     " --handle-signals={yes*|no} Enable or disable Julia's default signal handlers\n"
     " --sysimage-native-code={yes*|no}\n"
     "                            Use native code from system image if available\n"
-    " --compiled-modules={yes*|no}\n"
+    " --compiled-modules={yes*|no|existing}\n"
     "                            Enable or disable incremental precompilation of modules\n"
     " --pkgimages={yes*|no}\n"
     "                            Enable or disable usage of native code caching in the form of pkgimages ($)\n\n"
@@ -460,8 +460,10 @@ JL_DLLEXPORT void jl_parse_opts(int *argcp, char ***argvp)
                 jl_options.use_compiled_modules = JL_OPTIONS_USE_COMPILED_MODULES_YES;
             else if (!strcmp(optarg,"no"))
                 jl_options.use_compiled_modules = JL_OPTIONS_USE_COMPILED_MODULES_NO;
+            else if (!strcmp(optarg,"existing"))
+                jl_options.use_compiled_modules = JL_OPTIONS_USE_COMPILED_MODULES_EXISTING;
             else
-                jl_errorf("julia: invalid argument to --compiled-modules={yes|no} (%s)", optarg);
+                jl_errorf("julia: invalid argument to --compiled-modules={yes|no|existing} (%s)", optarg);
             break;
         case opt_pkgimages:
             pkgimage_explicit = 1;
diff --git a/src/julia.h b/src/julia.h
index 5af8a5bc1a170..9c5f0d519de0f 100644
--- a/src/julia.h
+++ b/src/julia.h
@@ -2295,6 +2295,7 @@ JL_DLLEXPORT int jl_generating_output(void) JL_NOTSAFEPOINT;
 #define JL_OPTIONS_USE_SYSIMAGE_NATIVE_CODE_YES 1
 #define JL_OPTIONS_USE_SYSIMAGE_NATIVE_CODE_NO 0
 
+#define JL_OPTIONS_USE_COMPILED_MODULES_EXISTING 2
 #define JL_OPTIONS_USE_COMPILED_MODULES_YES 1
 #define JL_OPTIONS_USE_COMPILED_MODULES_NO 0