diff --git a/Lib/distutils/command/build_ext.py b/Lib/distutils/command/build_ext.py
index bd61bc5..4e66464 100644
--- a/Lib/distutils/command/build_ext.py
+++ b/Lib/distutils/command/build_ext.py
@@ -748,6 +748,9 @@
         elif sys.platform == 'darwin':
             # Don't use the default code below
             return ext.libraries
+        elif sys.platform[:3] == 'aix':
+            # Don't use the default code below
+            return ext.libraries
         else:
             from distutils import sysconfig
             if sysconfig.get_config_var('Py_ENABLE_SHARED'):
diff --git a/Makefile.pre.in b/Makefile.pre.in
index d5b0ebc..d2bb685 100644
--- a/Makefile.pre.in
+++ b/Makefile.pre.in
@@ -446,10 +446,10 @@
 
 libpython$(VERSION).so: $(LIBRARY_OBJS)
 	if test $(INSTSONAME) != $(LDLIBRARY); then \
-		$(LDSHARED) $(PY_LDFLAGS) -Wl,-h$(INSTSONAME) -o $(INSTSONAME) $(LIBRARY_OBJS) $(MODLIBS) $(SHLIBS) $(LIBC) $(LIBM) $(LDLAST); \
+		$(BLDSHARED) $(PY_LDFLAGS) -Wl,-h$(INSTSONAME) -o $(INSTSONAME) $(LIBRARY_OBJS) $(MODLIBS) $(SHLIBS) $(LIBC) $(LIBM) $(LDLAST); \
 		$(LN) -f $(INSTSONAME) $@; \
 	else \
-		$(LDSHARED) $(PY_LDFLAGS) -o $@ $(LIBRARY_OBJS) $(MODLIBS) $(SHLIBS) $(LIBC) $(LIBM) $(LDLAST); \
+		$(BLDSHARED) $(PY_LDFLAGS) -o $@ $(LIBRARY_OBJS) $(MODLIBS) $(SHLIBS) $(LIBC) $(LIBM) $(LDLAST); \
 	fi
 
 libpython$(VERSION).dylib: $(LIBRARY_OBJS)
@@ -1220,7 +1220,7 @@
 	done
 	-rm -f core Makefile Makefile.pre config.status \
 		Modules/Setup Modules/Setup.local Modules/Setup.config \
-		Misc/python.pc
+		Modules/ld_so_aix Misc/python.pc
 	-rm -f python*-gdb.py
 	-rm -f pybuilddir.txt
 	find $(srcdir) '(' -name '*.fdc' -o -name '*~' \
diff --git a/Misc/NEWS b/Misc/NEWS
index 437b976..6349b39 100644
--- a/Misc/NEWS
+++ b/Misc/NEWS
@@ -102,6 +102,9 @@
 Build
 -----
 
+- Issue #941346: Improve the build process under AIX and allow Python to
+  be built as a shared library.  Patch by Sébastien Sablé.
+
 - Issue #4026: Make the fcntl extension build under AIX.  Patch by Sébastien
   Sablé.
 
diff --git a/Modules/ld_so_aix b/Modules/ld_so_aix.in
old mode 100755
new mode 100644
similarity index 92%
rename from Modules/ld_so_aix
rename to Modules/ld_so_aix.in
index 6b83823..0fd245b
--- a/Modules/ld_so_aix
+++ b/Modules/ld_so_aix.in
@@ -131,11 +131,14 @@
   shift
 done
 
+if test "$objfile" = "libpython@VERSION@.so"; then
+  ldsocoremode="true" 
+fi
 
 if test -z "$objs"; then
   echo "ld_so_aix: No input files; exiting."
   exit 2
-elif test ! -r "$impfile"; then
+elif test ! -r "$impfile" -a -z "$ldsocoremode"; then
   echo "ld_so_aix: Import file '$impfile' not found or not readable; exiting."
   exit 2
 fi
@@ -155,7 +158,7 @@
 # Default entry symbol for Python modules = init[modulename]
 # Can be overriden by providing a -e argument.
 if test -z "$entry"; then
-  entry=init`echo $filename | sed "s/module.*//"`
+  entry=PyInit_`echo $filename | sed "s/module.*//"`
 fi
 
 #echo "ld_so_aix: Debug info section"
@@ -166,11 +169,12 @@
 #echo "  -> object files: $objs"
 #echo "  -> CC arguments: $args"
 
-CCOPT="-Wl,-e$entry -Wl,-bE:$expfile -Wl,-bI:$impfile -Wl,-bhalt:4"
-CCOPT="$CCOPT -Wl,-bM:SRE -Wl,-T512 -Wl,-H512 -lm -o $objfile"
-# Note: to use dynamic libraries like libtcl8.4.so and libtk8.4.so 
-# you may need to replace the second CCOPT line above with the following:
-# CCOPT="$CCOPT -Wl,-bM:SRE -Wl,-T512 -Wl,-H512 -brtl -bnortllib -lm -o $objfile"
+if test -z "$ldsocoremode"; then
+  CCOPT="-Wl,-e$entry -Wl,-bE:$expfile -Wl,-bI:$impfile -Wl,-bhalt:4"
+else
+  CCOPT="-Wl,-bnoentry -Wl,-bE:$expfile -Wl,-bhalt:4"
+fi
+CCOPT="$CCOPT -Wl,-bM:SRE -Wl,-T512 -Wl,-H512 -Wl,-brtl -Wl,-bnortllib -lm -o $objfile"
 
 CCARGS="$args"
 
diff --git a/configure b/configure
index a3859d3..8bd1ea5 100755
--- a/configure
+++ b/configure
@@ -1,5 +1,5 @@
 #! /bin/sh
-# From configure.in Revision: 84584 .
+# From configure.in Revision: 84674 .
 # Guess values for system-dependent variables and create Makefiles.
 # Generated by GNU Autoconf 2.65 for python 3.2.
 #
@@ -4929,6 +4929,10 @@
 	BLDLIBRARY='-L. -lpython$(VERSION)'
 	RUNSHARED='DYLD_LIBRARY_PATH=`pwd`:${DYLD_LIBRARY_PATH}'
 	;;
+    AIX*)
+	LDLIBRARY='libpython$(VERSION).so'
+	RUNSHARED=LIBPATH=`pwd`:${LIBPATH}
+	;;
 
   esac
 else # shared is disabled
@@ -7484,7 +7488,7 @@
 then
 	case $ac_sys_system/$ac_sys_release in
 	AIX*)
-		BLDSHARED="\$(srcdir)/Modules/ld_so_aix \$(CC) -bI:Modules/python.exp"
+		BLDSHARED="\$(srcdir)/Modules/ld_so_aix \$(CC) -bI:Modules/python.exp -L\$(srcdir)"
 		LDSHARED="\$(BINLIBDEST)/config/ld_so_aix \$(CC) -bI:\$(BINLIBDEST)/config/python.exp"
 		;;
 	IRIX/5*) LDSHARED="ld -shared";;
@@ -13756,6 +13760,8 @@
 # generate output files
 ac_config_files="$ac_config_files Makefile.pre Modules/Setup.config Misc/python.pc"
 
+ac_config_files="$ac_config_files Modules/ld_so_aix"
+
 cat >confcache <<\_ACEOF
 # This file is a shell script that caches the results of configure
 # tests run on this system so they can be shared between configure
@@ -14448,6 +14454,7 @@
     "Makefile.pre") CONFIG_FILES="$CONFIG_FILES Makefile.pre" ;;
     "Modules/Setup.config") CONFIG_FILES="$CONFIG_FILES Modules/Setup.config" ;;
     "Misc/python.pc") CONFIG_FILES="$CONFIG_FILES Misc/python.pc" ;;
+    "Modules/ld_so_aix") CONFIG_FILES="$CONFIG_FILES Modules/ld_so_aix" ;;
 
   *) as_fn_error "invalid argument: \`$ac_config_target'" "$LINENO" 5;;
   esac
@@ -14987,6 +14994,11 @@
 
   esac
 
+
+  case $ac_file$ac_mode in
+    "Modules/ld_so_aix":F) chmod +x Modules/ld_so_aix ;;
+
+  esac
 done # for ac_tag
 
 
diff --git a/configure.in b/configure.in
index 5caa5d7..b467284 100644
--- a/configure.in
+++ b/configure.in
@@ -766,6 +766,10 @@
 	BLDLIBRARY='-L. -lpython$(VERSION)'
 	RUNSHARED='DYLD_LIBRARY_PATH=`pwd`:${DYLD_LIBRARY_PATH}'
 	;;
+    AIX*)
+	LDLIBRARY='libpython$(VERSION).so'
+	RUNSHARED=LIBPATH=`pwd`:${LIBPATH}
+	;;
 
   esac
 else # shared is disabled
@@ -1665,7 +1669,7 @@
 then
 	case $ac_sys_system/$ac_sys_release in
 	AIX*)
-		BLDSHARED="\$(srcdir)/Modules/ld_so_aix \$(CC) -bI:Modules/python.exp"
+		BLDSHARED="\$(srcdir)/Modules/ld_so_aix \$(CC) -bI:Modules/python.exp -L\$(srcdir)"
 		LDSHARED="\$(BINLIBDEST)/config/ld_so_aix \$(CC) -bI:\$(BINLIBDEST)/config/python.exp"
 		;;
 	IRIX/5*) LDSHARED="ld -shared";;
@@ -4247,6 +4251,7 @@
 
 # generate output files
 AC_CONFIG_FILES(Makefile.pre Modules/Setup.config Misc/python.pc)
+AC_CONFIG_FILES([Modules/ld_so_aix], [chmod +x Modules/ld_so_aix])
 AC_OUTPUT
 
 echo "creating Modules/Setup"