diff --git a/lib/module.js b/lib/module.js
index 36e0b160c99038..1a8dcfc4ad04a1 100644
--- a/lib/module.js
+++ b/lib/module.js
@@ -453,7 +453,16 @@ Module._initPaths = function() {
     homeDir = process.env.HOME;
   }
 
-  var paths = [path.resolve(process.execPath, '..', '..', 'lib', 'node')];
+  // $PREFIX/lib/node, where $PREFIX is the root of the Node.js installation.
+  var prefixDir;
+  // process.execPath is $PREFIX/bin/node except on Windows where it is
+  // $PREFIX\node.exe.
+  if (isWindows) {
+    prefixDir = path.resolve(process.execPath, '..');
+  } else {
+    prefixDir = path.resolve(process.execPath, '..', '..');
+  }
+  var paths = [path.resolve(prefixDir, 'lib', 'node')];
 
   if (homeDir) {
     paths.unshift(path.resolve(homeDir, '.node_libraries'));