diff --git a/src/main.rs b/src/main.rs
index 8e4f640..4243d96 100644
--- a/src/main.rs
+++ b/src/main.rs
@@ -12,6 +12,7 @@ use clap::Parser;
 mod templates;
 mod options;
 mod project;
+mod rustc_version;
 mod utils;
 
 static FUZZ_TARGETS_DIR_OLD: &str = "fuzzers";
diff --git a/src/project.rs b/src/project.rs
index 3bcc37e..799a42b 100644
--- a/src/project.rs
+++ b/src/project.rs
@@ -1,4 +1,5 @@
 use crate::options::{self, BuildMode, BuildOptions, Sanitizer};
+use crate::rustc_version::RustVersion;
 use crate::utils::default_target;
 use anyhow::{anyhow, bail, Context, Result};
 use cargo_metadata::MetadataCommand;
@@ -187,17 +188,36 @@ impl FuzzProject {
             rustflags.push_str(" -Cinstrument-coverage");
         }
 
-        match build.sanitizer {
-            Sanitizer::None => {}
-            Sanitizer::Memory => {
-                // Memory sanitizer requires more flags to function than others:
-                // https://doc.rust-lang.org/unstable-book/compiler-flags/sanitizer.html#memorysanitizer
-                rustflags.push_str(" -Zsanitizer=memory -Zsanitizer-memory-track-origins")
+        if !matches!(build.sanitizer, Sanitizer::None) {
+            // Select the appropriate sanitizer flag for the given rustc version
+            let rust_version = RustVersion::discover()?;
+            let sanitizer_flag = match rust_version.has_sanitizers_on_stable() {
+                true => "-Csanitizer",
+                false => "-Zsanitizer",
+            };
+
+            // Set rustc CLI arguments for the chosen sanitizer
+            match build.sanitizer {
+                Sanitizer::None => {} // needs no flags
+                Sanitizer::Memory => {
+                    // Memory sanitizer requires more flags to function than others:
+                    // https://doc.rust-lang.org/unstable-book/compiler-flags/sanitizer.html#memorysanitizer
+                    rustflags.push_str(&format!(
+                        " {sanitizer_flag}=memory -Zsanitizer-memory-track-origins"
+                    ))
+                }
+                _ => rustflags.push_str(&format!(" {sanitizer_flag}={}", build.sanitizer)),
+            }
+
+            // Not all sanitizers are stabilized on all platforms.
+            // It is infeasible to keep up this code to date with the list.
+            // So we just set `-Zunstable-options` required for some sanitizers
+            // whenever we're on nightly on a recent enough compiler,
+            // and let the compiler show an error message
+            // if the user tries to enable a sanitizer not supported on their stable compiler.
+            if rust_version.nightly && rust_version.has_sanitizers_on_stable() {
+                rustflags.push_str(" -Zunstable-options")
             }
-            _ => rustflags.push_str(&format!(
-                " -Zsanitizer={sanitizer}",
-                sanitizer = build.sanitizer
-            )),
         }
 
         if build.careful_mode {
diff --git a/src/rustc_version.rs b/src/rustc_version.rs
new file mode 100644
index 0000000..c92863d
--- /dev/null
+++ b/src/rustc_version.rs
@@ -0,0 +1,144 @@
+//! Rust compiler version detection
+
+use std::{cmp::Ordering, process::Command, str::FromStr};
+
+use anyhow::Context;
+
+/// Checks if the compiler currently in use is nightly, or `RUSTC_BOOTSTRAP` is set to get nightly features on stable
+fn is_nightly(version_string: &str) -> bool {
+    version_string.contains("-nightly ") || std::env::var_os("RUSTC_BOOTSTRAP").is_some()
+}
+
+/// Returns the output of `rustc --version`
+fn rust_version_string() -> anyhow::Result<String> {
+    // The path to rustc can be specified via an environment variable:
+    // https://doc.rust-lang.org/cargo/reference/environment-variables.html#environment-variables-cargo-reads
+    let rustc_path = std::env::var_os("RUSTC").unwrap_or("rustc".into());
+    let raw_output = Command::new(rustc_path)
+        .arg("--version")
+        .output()
+        .context("Failed to invoke rustc! Is it in your $PATH?")?
+        .stdout;
+    String::from_utf8(raw_output).context("`rustc --version` returned non-text output somehow")
+}
+
+#[derive(Debug, Copy, Clone, Eq, PartialEq, PartialOrd)]
+pub struct RustVersion {
+    pub major: u32,
+    pub minor: u32,
+    // we don't care about the patch version and it's a bit of a pain to parse
+    pub nightly: bool,
+}
+
+impl Ord for RustVersion {
+    fn cmp(&self, other: &Self) -> Ordering {
+        match self.major.cmp(&other.major) {
+            Ordering::Equal => self.minor.cmp(&other.minor),
+            other => other,
+        }
+    }
+}
+
+impl RustVersion {
+    pub fn discover() -> anyhow::Result<Self> {
+        let version_string = rust_version_string()?;
+        let me = Self::from_str(&version_string).map_err(|e| anyhow::anyhow!(e))?;
+        Ok(me)
+    }
+}
+
+impl FromStr for RustVersion {
+    type Err = &'static str;
+
+    fn from_str(s: &str) -> Result<Self, Self::Err> {
+        let s = s
+            .strip_prefix("rustc ")
+            .ok_or("Rust version string does not start with 'rustc'!")?;
+        let mut iter = s.split('.');
+        let major: u32 = iter
+            .next()
+            .ok_or("No major version found in `rustc --version` output!")?
+            .parse()
+            .map_err(|_| {
+                "Failed to parse major version in `rustc --version` output as a number!"
+            })?;
+        let minor: u32 = iter
+            .next()
+            .ok_or("No minor version found in `rustc --version` output!")?
+            .parse()
+            .map_err(|_| {
+                "Failed to parse minor version in `rustc --version` output as a number!"
+            })?;
+        let nightly = is_nightly(s);
+        Ok(RustVersion {
+            major,
+            minor,
+            nightly,
+        })
+    }
+}
+
+/// Checks whether the compiler supports sanitizers on stable channel.
+/// Such compilers (even nightly) do not support `-Zsanitizer` flag,
+/// and require a different combination of flags even on nightly.
+///
+/// Stabilization PR with more info: <https://github.com/rust-lang/rust/pull/123617>
+impl RustVersion {
+    pub fn has_sanitizers_on_stable(&self) -> bool {
+        // TODO: the release that stabilizes sanitizers is not currently known.
+        // This value is a PLACEHOLDER.
+        let release_that_stabilized_sanitizers = RustVersion {
+            major: u32::MAX,
+            minor: u32::MAX,
+            nightly: false,
+        };
+        self >= &release_that_stabilized_sanitizers
+    }
+}
+
+#[cfg(test)]
+mod tests {
+    use super::*;
+
+    #[test]
+    fn test_parsing_stable() {
+        let version_string = "rustc 1.78.0 (9b00956e5 2024-04-29)";
+        let result = RustVersion::from_str(version_string).unwrap();
+        assert_eq!(
+            result,
+            RustVersion {
+                major: 1,
+                minor: 78,
+                nightly: false,
+            }
+        );
+    }
+
+    #[test]
+    fn test_parsing_nightly() {
+        let version_string = "rustc 1.81.0-nightly (d7f6ebace 2024-06-16)";
+        let result = RustVersion::from_str(version_string).unwrap();
+        assert_eq!(
+            result,
+            RustVersion {
+                major: 1,
+                minor: 81,
+                nightly: true,
+            }
+        );
+    }
+
+    #[test]
+    fn test_parsing_future_stable() {
+        let version_string = "rustc 2.356.1 (deadfaced 2029-04-01)";
+        let result = RustVersion::from_str(version_string).unwrap();
+        assert_eq!(
+            result,
+            RustVersion {
+                major: 2,
+                minor: 356,
+                nightly: false,
+            }
+        );
+    }
+}