diff --git a/ddl/cache.lua b/ddl/cache.lua
new file mode 100644
index 0000000..01d419a
--- /dev/null
+++ b/ddl/cache.lua
@@ -0,0 +1,108 @@
+local fiber = require('fiber')
+
+local cache = nil
+
+local CACHE_LOCK_TIMEOUT  = 3
+local SPACE_NAME_IDX      = 1
+local SHARD_FUNC_NAME_IDX = 2
+local SHARD_FUNC_BODY_IDX = 3
+
+-- Build cache and setup "on_replace" trigger.
+--
+-- Cache structure format:
+-- cache = {
+--   spaces = {
+--     'space_name' = {
+--       raw = {},      -- raw sharding metadata, used for ddl.get()
+--       processed = {} -- sharding function that is ready to call or a string with error
+--     }
+--   },
+--   fetch_lock -- locking based on fiber.channel()
+-- }
+local function cache_build()
+    -- prevent cache_build() from being called concurrently by different fibers
+    local unlocked = cache.fetch_lock:put(true, CACHE_LOCK_TIMEOUT)
+    local trigger_found = false
+
+    if not unlocked then
+        return
+    end
+
+    -- clear cache
+    cache.spaces = {}
+
+    if box.space._ddl_sharding_func == nil then
+        cache.fetch_lock:get()
+        return nil
+    end
+
+    for _, tuple in box.space._ddl_sharding_func:pairs() do
+        local space_name = tuple[SPACE_NAME_IDX]
+        local func_name = tuple[SHARD_FUNC_NAME_IDX]
+        local func_body = tuple[SHARD_FUNC_BODY_IDX]
+
+        cache.spaces[space_name] = {}
+        cache.spaces[space_name].sharding_func = { raw = tuple }
+
+        if func_body ~= nil then
+            local sharding_func, err = loadstring('return ' .. func_body)
+            if sharding_func == nil then
+                cache.spaces[space_name].sharding_func.processed =
+                    string.format("Body is incorrect in sharding_func for space (%s): %s",
+                    space_name, err)
+            else
+                cache.spaces[space_name].sharding_func.processed =
+                    sharding_func()
+            end
+        elseif func_name ~= nil then
+            local chunks = string.split(func_name, '.')
+            cache.spaces[space_name].sharding_func.processed = chunks
+        end
+    end
+
+    cache._schema_version = box.internal.schema_version()
+
+    for _, func in pairs(box.space._ddl_sharding_func:on_replace()) do
+        if func == cache_build then
+            trigger_found = true
+            break
+        end
+    end
+
+    if not trigger_found then
+        box.space._ddl_sharding_func:on_replace(cache_build)
+    end
+
+    cache.fetch_lock:get()
+end
+
+-- Get data from cache.
+-- Returns all cached data for "space_name".
+local function cache_get(space_name)
+    if space_name == nil then
+        return nil
+    end
+
+    local schema_version = box.internal.schema_version()
+
+    if not cache then
+        cache = {
+            spaces = {},
+            fetch_lock = fiber.channel(1)
+        }
+        cache_build()
+    end
+
+    -- rebuild cache if database schema changed
+    if schema_version ~= cache._schema_version then
+        cache_build()
+    end
+
+    return cache.spaces[space_name]
+end
+
+return {
+    internal = {
+        get = cache_get,
+    }
+}
diff --git a/ddl/get.lua b/ddl/get.lua
index f151ef4..a72c65d 100644
--- a/ddl/get.lua
+++ b/ddl/get.lua
@@ -1,4 +1,5 @@
 local utils = require('ddl.utils')
+local cache = require('ddl.cache')
 local ddl_check = require('ddl.check')
 
 local function _get_index_field_path(space, index_part)
@@ -66,11 +67,25 @@ local function get_metadata(space_name, metadata_name)
 end
 
 local function get_sharding_func(space_name)
-    local record = get_metadata(space_name, "sharding_func")
-    if not record then
+    local record = cache.internal.get(space_name)
+
+    if not record or not record.sharding_func then
+        return nil
+    end
+
+    return record.sharding_func.processed
+end
+
+local function get_sharding_func_raw(space_name)
+    local record = cache.internal.get(space_name)
+
+    if not record or not record.sharding_func or not
+        record.sharding_func.raw then
         return nil
     end
 
+    record = record.sharding_func.raw
+
     if record.sharding_func_body ~= nil then
         return {body = record.sharding_func_body}
     end
@@ -97,7 +112,7 @@ local function get_space_schema(space_name)
     space_ddl.engine = box_space.engine
     space_ddl.format = box_space:format()
     space_ddl.sharding_key = get_sharding_key(space_name)
-    space_ddl.sharding_func = get_sharding_func(space_name)
+    space_ddl.sharding_func = get_sharding_func_raw(space_name)
     for _, field in ipairs(space_ddl.format) do
         if field.is_nullable == nil then
             field.is_nullable = false
@@ -115,7 +130,7 @@ local function get_space_schema(space_name)
 end
 
 local function prepare_sharding_func_for_call(space_name, sharding_func_def)
-    if type(sharding_func_def) == 'string' then
+    if type(sharding_func_def) == 'table' then
         local sharding_func = utils.get_G_function(sharding_func_def)
         if sharding_func ~= nil and
            ddl_check.internal.is_callable(sharding_func) == true then
@@ -123,13 +138,13 @@ local function prepare_sharding_func_for_call(space_name, sharding_func_def)
         end
     end
 
-    if type(sharding_func_def) == 'table' then
-        local sharding_func, err = loadstring('return ' .. sharding_func_def.body)
-        if sharding_func == nil then
-            return nil, string.format(
-                "Body is incorrect in sharding_func for space (%s): %s", space_name, err)
-        end
-        return sharding_func()
+    if type(sharding_func_def) == 'function' then
+        return sharding_func_def
+    end
+
+    -- error from cache
+    if type(sharding_func_def) == 'string' then
+        return nil, sharding_func_def
     end
 
     return nil, string.format(
diff --git a/ddl/utils.lua b/ddl/utils.lua
index bb5a433..fd8d440 100644
--- a/ddl/utils.lua
+++ b/ddl/utils.lua
@@ -190,8 +190,16 @@ end
 -- foo.bar.baz -> chunks: foo bar baz
 -- foo -> chunks: foo
 local function get_G_function(func_name)
-    local chunks = string.split(func_name, '.')
     local sharding_func = _G
+    local chunks
+
+    -- function name received from cache is already splitted
+    if type(func_name) == 'string' then
+        chunks = string.split(func_name, '.')
+    else
+        chunks = func_name
+    end
+
     -- check is the each chunk an identifier
     for _, chunk in pairs(chunks) do
         if not check_name_isident(chunk) or sharding_func == nil then
diff --git a/test/cache_test.lua b/test/cache_test.lua
new file mode 100644
index 0000000..5e93a06
--- /dev/null
+++ b/test/cache_test.lua
@@ -0,0 +1,179 @@
+#!/usr/bin/env tarantool
+
+local t = require('luatest')
+local db = require('test.db')
+local ddl = require('ddl')
+local cache = require('ddl.cache')
+
+local SPACE_NAME_IDX      = 1
+local SHARD_FUNC_NAME_IDX = 2
+local SHARD_FUNC_BODY_IDX = 3
+
+local test_space = {
+    engine = 'memtx',
+    is_local = true,
+    temporary = false,
+    format = {
+        {name = 'unsigned_nonnull', type = 'unsigned', is_nullable = false},
+        {name = 'unsigned_nullable', type = 'unsigned', is_nullable = true},
+        {name = 'integer_nonnull', type = 'integer', is_nullable = false},
+        {name = 'integer_nullable', type = 'integer', is_nullable = true},
+        {name = 'number_nonnull', type = 'number', is_nullable = false},
+        {name = 'number_nullable', type = 'number', is_nullable = true},
+        {name = 'boolean_nonnull', type = 'boolean', is_nullable = false},
+        {name = 'boolean_nullable', type = 'boolean', is_nullable = true},
+        {name = 'string_nonnull', type = 'string', is_nullable = false},
+        {name = 'string_nullable', type = 'string', is_nullable = true},
+        {name = 'scalar_nonnull', type = 'scalar', is_nullable = false},
+        {name = 'scalar_nullable', type = 'scalar', is_nullable = true},
+        {name = 'array_nonnull', type = 'array', is_nullable = false},
+        {name = 'array_nullable', type = 'array', is_nullable = true},
+        {name = 'map_nonnull', type = 'map', is_nullable = false},
+        {name = 'map_nullable', type = 'map', is_nullable = true},
+        {name = 'any_nonnull', type = 'any', is_nullable = false},
+        {name = 'any_nullable', type = 'any', is_nullable = true},
+    },
+}
+
+local primary_index = {
+    type = 'HASH',
+    unique = true,
+    parts = {
+        {path = 'string_nonnull', is_nullable = false, type = 'string'},
+        {path = 'unsigned_nonnull', is_nullable = false, type = 'unsigned'},
+    },
+    name = 'primary'
+}
+
+local bucket_id_idx = {
+    type = 'TREE',
+    unique = false,
+    parts = {{path = 'bucket_id', type = 'unsigned', is_nullable = false}},
+    name = 'bucket_id'
+}
+
+local func_body_first  = 'function() return 42 end'
+local func_body_second = 'function() return 24 end'
+
+local function rebuild_db(g)
+    db.drop_all()
+
+    g.space = table.deepcopy(test_space)
+    table.insert(g.space.format, 1, {
+        name = 'bucket_id', type = 'unsigned', is_nullable = false
+    })
+
+    g.space.indexes = {
+        table.deepcopy(primary_index),
+        table.deepcopy(bucket_id_idx)
+    }
+    g.space.sharding_key = {'unsigned_nonnull', 'integer_nonnull'}
+    g.schema = {
+        spaces = {
+            space = g.space,
+        }
+    }
+end
+
+local g = t.group()
+g.before_all(db.init)
+g.before_each(function()
+    rebuild_db(g)
+end)
+
+function g.test_cache_processed_func_body()
+    g.schema.spaces.space.sharding_func = {
+        body = func_body_first
+    }
+    local ok, err = ddl.set_schema(g.schema)
+    t.assert_equals(err, nil)
+    t.assert_equals(ok, true)
+
+    local res = cache.internal.get('space')
+    t.assert(res)
+    t.assert(res.sharding_func.processed)
+    res = res.sharding_func.processed
+    t.assert(type(res) == 'function')
+    t.assert_equals(res(), 42)
+end
+
+function g.test_cache_processed_func_name()
+    local sharding_func_name = 'sharding_func'
+    rawset(_G, sharding_func_name, function(key) return key end)
+    g.schema.spaces.space.sharding_func = sharding_func_name
+
+    local ok, err = ddl.set_schema(g.schema)
+    t.assert_equals(err, nil)
+    t.assert_equals(ok, true)
+
+    local res = cache.internal.get('space')
+    t.assert(res)
+    t.assert(res.sharding_func.processed)
+    res = res.sharding_func.processed
+    t.assert(type(res) == 'table')
+    t.assert_equals(res[1], 'sharding_func')
+
+    rawset(_G, sharding_func_name, nil)
+end
+
+function g.test_cache_schema_changed()
+    g.schema.spaces.space.sharding_func = {
+        body = func_body_first
+    }
+    local ok, err = ddl.set_schema(g.schema)
+    t.assert_equals(err, nil)
+    t.assert_equals(ok, true)
+
+    local res = cache.internal.get('space')
+    t.assert(res)
+    t.assert(res.sharding_func.raw)
+    res = res.sharding_func.raw
+    t.assert_equals(res[SPACE_NAME_IDX], 'space')
+    t.assert_equals(res[SHARD_FUNC_NAME_IDX], nil)
+    t.assert_equals(res[SHARD_FUNC_BODY_IDX], func_body_first)
+
+    rebuild_db(g)
+
+    g.schema.spaces.space.sharding_func = {
+        body = func_body_second
+    }
+    local ok, err = ddl.set_schema(g.schema)
+    t.assert_equals(err, nil)
+    t.assert_equals(ok, true)
+
+    local res = cache.internal.get('space')
+    t.assert(res)
+    t.assert(res.sharding_func.raw)
+    res = res.sharding_func.raw
+    t.assert_equals(res[SPACE_NAME_IDX], 'space')
+    t.assert_equals(res[SHARD_FUNC_NAME_IDX], nil)
+    t.assert_equals(res[SHARD_FUNC_BODY_IDX], func_body_second)
+end
+
+function g.test_cache_space_updated()
+    g.schema.spaces.space.sharding_func = {
+        body = func_body_first
+    }
+    local ok, err = ddl.set_schema(g.schema)
+    t.assert_equals(err, nil)
+    t.assert_equals(ok, true)
+
+    local res = cache.internal.get('space')
+    t.assert(res)
+    t.assert(res.sharding_func.raw)
+    res = res.sharding_func.raw
+    t.assert_equals(res[SPACE_NAME_IDX], 'space')
+    t.assert_equals(res[SHARD_FUNC_NAME_IDX], nil)
+    t.assert_equals(res[SHARD_FUNC_BODY_IDX], func_body_first)
+
+    box.space._ddl_sharding_func
+       :update({'space'}, {{'=', SHARD_FUNC_BODY_IDX, func_body_second}})
+
+    local res = cache.internal.get('space')
+    t.assert(res)
+    t.assert(res.sharding_func.raw)
+    res = res.sharding_func.raw
+    t.assert_equals(res[SPACE_NAME_IDX], 'space')
+    t.assert_equals(res[SHARD_FUNC_NAME_IDX], nil)
+    t.assert_equals(res[SHARD_FUNC_BODY_IDX], func_body_second)
+end