diff --git a/BASE/src/Microsoft.ApplicationInsights/Microsoft.ApplicationInsights.csproj b/BASE/src/Microsoft.ApplicationInsights/Microsoft.ApplicationInsights.csproj
index 6649471f8..b53601344 100644
--- a/BASE/src/Microsoft.ApplicationInsights/Microsoft.ApplicationInsights.csproj
+++ b/BASE/src/Microsoft.ApplicationInsights/Microsoft.ApplicationInsights.csproj
@@ -4,8 +4,8 @@
   <PropertyGroup>
     <RootNamespace>Microsoft.ApplicationInsights</RootNamespace>
     <AssemblyName>Microsoft.ApplicationInsights</AssemblyName>
-    <TargetFrameworks>net10.0;net9.0;net8.0;net462</TargetFrameworks>
-    <TargetFrameworks Condition="$(OS) != 'Windows_NT'">net8.0;net9.0;net10.0</TargetFrameworks>
+    <TargetFrameworks>net10.0;net9.0;net8.0;netstandard2.0;net462</TargetFrameworks>
+    <TargetFrameworks Condition="$(OS) != 'Windows_NT'">net8.0;net9.0;net10.0;netstandard2.0</TargetFrameworks>
 	<LangVersion>9.0</LangVersion>
   </PropertyGroup>
 
@@ -28,12 +28,12 @@
 
   <ItemGroup>
     <PackageReference Include="Azure.Monitor.OpenTelemetry.Exporter" />
-    <PackageReference Include="Microsoft.Diagnostics.Tracing.EventRegister" Condition="$(OS) == 'Windows_NT' And '$(TargetFramework)' != 'net8.0' And '$(TargetFramework)' != 'net9.0' And '$(TargetFramework)' != 'net10.0'">
+    <PackageReference Include="Microsoft.Diagnostics.Tracing.EventRegister" Condition="$(OS) == 'Windows_NT' And '$(TargetFramework)' != 'net8.0' And '$(TargetFramework)' != 'net9.0' And '$(TargetFramework)' != 'net10.0' And '$(TargetFramework)' != 'netstandard2.0'">
       <PrivateAssets>All</PrivateAssets>
     </PackageReference>
   </ItemGroup>
 
-  <ItemGroup Condition="'$(TargetFramework)' != 'net8.0' And '$(TargetFramework)' != 'net9.0' And '$(TargetFramework)' != 'net10.0'">
+  <ItemGroup Condition="'$(TargetFramework)' == 'net462'">
     <Reference Include="System.Net.Http" />
   </ItemGroup>
 
diff --git a/BreakingChanges.md b/BreakingChanges.md
index fa21b85ec..1eb2c6f4d 100644
--- a/BreakingChanges.md
+++ b/BreakingChanges.md
@@ -372,8 +372,9 @@ Please see our [migration guide](MigrationGuidance.md#sampling) for detailed gui
 
 ### Target Framework Changes
 - **2.x**: `net452`, `netstandard2.0`
-- **3.x**: `net462`, `netstandard2.0`
+- **3.x**: `net462`, `net8.0`
 - **Breaking**: Minimum .NET Framework version raised from **4.5.2** → **4.6.2**
+- **Breaking**: `netstandard2.0` replaced with `net8.0`
 
 ## Migration Checklist
 
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 3fb00b558..227e321bc 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,7 @@
 # Changelog
 
 ## Unreleased
+- [Added `netstandard2.0` target framework to `Microsoft.ApplicationInsights` package to support customers with shared libraries targeting netstandard2.0.](https://github.com/microsoft/ApplicationInsights-dotnet/pull/3142)
 - [Fix `TelemetryClient.Context.Cloud.RoleName` set after construction now applies to all telemetry.](https://github.com/microsoft/ApplicationInsights-dotnet/pull/3129)
 - [Fix bug where Debug/Trace level logs from TrackTrace API were not emitted to Application Insights](https://github.com/microsoft/ApplicationInsights-dotnet/pull/3121)
 - [Fix Track API calls to not mutate the passed in dictionary if it is readonly](https://github.com/microsoft/ApplicationInsights-dotnet/pull/3119)
diff --git a/Directory.Build.props b/Directory.Build.props
index 54c02dbad..235afe5ad 100644
--- a/Directory.Build.props
+++ b/Directory.Build.props
@@ -89,7 +89,7 @@
 
     <IsNetFramework Condition="'$(TargetFramework)' == 'net452' Or '$(TargetFramework)' == 'net46' Or '$(TargetFramework)' == 'net461' Or '$(TargetFramework)' == 'net462' Or '$(TargetFramework)' == 'net472' Or '$(TargetFramework)' == 'net480' Or '$(TargetFramework)' == 'net481' ">True</IsNetFramework>
     <IsNetCore Condition="'$(TargetFramework)' == 'net8.0' Or '$(TargetFramework)' == 'net9.0' Or '$(TargetFramework)' == 'net10.0'">True</IsNetCore>
-    <IsNetStandard20 Condition="'$(TargetFramework)' == 'net462' Or '$(TargetFramework)' == 'net472' Or '$(TargetFramework)' == 'net480' Or '$(TargetFramework)' == 'net481' Or '$(TargetFramework)' == 'net8.0' Or '$(TargetFramework)' == 'net9.0' Or '$(TargetFramework)' == 'net10.0'">True</IsNetStandard20>
+    <IsNetStandard20 Condition="'$(TargetFramework)' == 'netstandard2.0' Or '$(TargetFramework)' == 'net462' Or '$(TargetFramework)' == 'net472' Or '$(TargetFramework)' == 'net480' Or '$(TargetFramework)' == 'net481' Or '$(TargetFramework)' == 'net8.0' Or '$(TargetFramework)' == 'net9.0' Or '$(TargetFramework)' == 'net10.0'">True</IsNetStandard20>
 
     <!-- .NET 6 introduces implicit global usings.
     This causes build errors in our multi-target projects.