diff --git a/CHANGELOG.md b/CHANGELOG.md
index 514bc58b14d..67d4cec641d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,8 +5,10 @@ All PRs to the Wasmer repository must add to this file.
 Blocks of changes will separated by version increments.
 
 ## **[Unreleased]**
-## 0.5.4
+- [#537](https://github.com/wasmerio/wasmer/pull/537) Add hidden flag (`--cache-key`) to use prehashed key into the compiled wasm cache
 - [#536](https://github.com/wasmerio/wasmer/pull/536) Update cache to use compiler backend name in cache key
+
+## 0.5.4
 - [#529](https://github.com/wasmerio/wasmer/pull/529) Updates the Wasm Interface library, which is used by wapm, with bug fixes and error message improvements
 
 ## 0.5.3
diff --git a/lib/runtime-core/src/cache.rs b/lib/runtime-core/src/cache.rs
index 8f1c82db2b4..0a1c5465618 100644
--- a/lib/runtime-core/src/cache.rs
+++ b/lib/runtime-core/src/cache.rs
@@ -77,6 +77,30 @@ impl WasmHash {
         hex::encode(&self.into_array() as &[u8])
     }
 
+    /// Create hash from hexadecimal representation
+    pub fn decode(hex_str: &str) -> Result<Self, Error> {
+        let bytes = hex::decode(hex_str).map_err(|e| {
+            Error::DeserializeError(format!(
+                "Could not decode prehashed key as hexadecimal: {}",
+                e
+            ))
+        })?;
+        if bytes.len() != 64 {
+            return Err(Error::DeserializeError(
+                "Prehashed keys must deserialze into exactly 64 bytes".to_string(),
+            ));
+        }
+        use std::convert::TryInto;
+        Ok(WasmHash(
+            bytes[0..32].try_into().map_err(|e| {
+                Error::DeserializeError(format!("Could not get first 32 bytes: {}", e))
+            })?,
+            bytes[32..64].try_into().map_err(|e| {
+                Error::DeserializeError(format!("Could not get last 32 bytes: {}", e))
+            })?,
+        ))
+    }
+
     pub(crate) fn into_array(self) -> [u8; 64] {
         let mut total = [0u8; 64];
         total[0..32].copy_from_slice(&self.0);
diff --git a/src/bin/wasmer.rs b/src/bin/wasmer.rs
index 297d0199b78..978033bcc82 100644
--- a/src/bin/wasmer.rs
+++ b/src/bin/wasmer.rs
@@ -24,6 +24,7 @@ use wasmer_runtime::{
 use wasmer_runtime_core::{
     self,
     backend::{Backend, Compiler, CompilerConfig, MemoryBoundCheckMode},
+    debug,
     loader::{Instance as LoadedInstance, LocalLoader},
 };
 #[cfg(feature = "backend:singlepass")]
@@ -115,9 +116,18 @@ struct Run {
     #[structopt(long = "resume")]
     resume: Option<String>,
 
+    /// The command name is a string that will override the first argument passed
+    /// to the wasm program. This is used in wapm to provide nicer output in
+    /// help commands and error messages of the running wasm program
     #[structopt(long = "command-name", hidden = true)]
     command_name: Option<String>,
 
+    /// A prehashed string, used to speed up start times by avoiding hashing the
+    /// wasm module. If the specified hash is not found, Wasmer will hash the module
+    /// as if no `cache-key` argument was passed.
+    #[structopt(long = "cache-key", hidden = true)]
+    cache_key: Option<String>,
+
     /// Application arguments
     #[structopt(name = "--", raw(multiple = "true"))]
     args: Vec<String>,
@@ -350,10 +360,6 @@ fn execute_wasm(options: &Run) -> Result<(), String> {
     } else {
         // If we have cache enabled
 
-        // We generate a hash for the given binary, so we can use it as key
-        // for the Filesystem cache
-        let hash = WasmHash::generate_for_backend(&wasm_binary, options.backend);
-
         let wasmer_cache_dir = get_cache_dir();
 
         // We create a new cache instance.
@@ -362,31 +368,47 @@ fn execute_wasm(options: &Run) -> Result<(), String> {
         let mut cache = unsafe {
             FileSystemCache::new(wasmer_cache_dir).map_err(|e| format!("Cache error: {:?}", e))?
         };
-
-        // cache.load will return the Module if it's able to deserialize it properly, and an error if:
-        // * The file is not found
-        // * The file exists, but it's corrupted or can't be converted to a module
-        match cache.load(hash) {
-            Ok(module) => {
-                // We are able to load the module from cache
-                module
+        let load_cache_key = || -> Result<_, String> {
+            if let Some(ref prehashed_cache_key) = options.cache_key {
+                if let Ok(module) = WasmHash::decode(prehashed_cache_key)
+                    .and_then(|prehashed_key| cache.load(prehashed_key))
+                {
+                    debug!("using prehashed key: {}", prehashed_cache_key);
+                    return Ok(module);
+                }
             }
-            Err(_) => {
-                let module = webassembly::compile_with_config_with(
-                    &wasm_binary[..],
-                    CompilerConfig {
-                        symbol_map: em_symbol_map,
-                        ..Default::default()
-                    },
-                    &*compiler,
-                )
-                .map_err(|e| format!("Can't compile module: {:?}", e))?;
-                // We try to save the module into a cache file
-                cache.store(hash, module.clone()).unwrap_or_default();
 
-                module
+            // We generate a hash for the given binary, so we can use it as key
+            // for the Filesystem cache
+            let hash = WasmHash::generate_for_backend(&wasm_binary, options.backend);
+
+            // cache.load will return the Module if it's able to deserialize it properly, and an error if:
+            // * The file is not found
+            // * The file exists, but it's corrupted or can't be converted to a module
+            match cache.load(hash) {
+                Ok(module) => {
+                    // We are able to load the module from cache
+                    Ok(module)
+                }
+                Err(_) => {
+                    let module = webassembly::compile_with_config_with(
+                        &wasm_binary[..],
+                        CompilerConfig {
+                            symbol_map: em_symbol_map,
+                            ..Default::default()
+                        },
+                        &*compiler,
+                    )
+                    .map_err(|e| format!("Can't compile module: {:?}", e))?;
+                    // We try to save the module into a cache file
+                    cache.store(hash, module.clone()).unwrap_or_default();
+
+                    Ok(module)
+                }
             }
-        }
+        };
+
+        load_cache_key()?
     };
 
     if let Some(loader) = options.loader {