diff --git a/src/odoc/bin/main.ml b/src/odoc/bin/main.ml
index 0631d87ae4..1c5c5d7938 100644
--- a/src/odoc/bin/main.ml
+++ b/src/odoc/bin/main.ml
@@ -833,8 +833,10 @@ end)
 
 module Depends = struct
   module Compile = struct
-    let list_dependencies input_file =
-      let deps = Depends.for_compile_step (Fs.File.of_string input_file) in
+    let list_dependencies has_src input_file =
+      let deps =
+        Depends.for_compile_step ~has_src (Fs.File.of_string input_file)
+      in
       List.iter
         ~f:(fun t ->
           Printf.printf "%s %s\n" (Depends.Compile.name t)
@@ -850,7 +852,14 @@ module Depends = struct
           & pos 0 (some file) None
           & info ~doc ~docv:"file.cm{i,t,ti}" [])
       in
-      Term.(const list_dependencies $ input)
+      let has_src =
+        let doc =
+          "Include the dependencies needed when compiling with --source-name \
+           and --source-parent-file."
+        in
+        Arg.(value & flag & info ~doc [ "has-src" ])
+      in
+      Term.(const list_dependencies $ has_src $ input)
 
     let info ~docs =
       Term.info "compile-deps" ~docs
diff --git a/src/odoc/compile.ml b/src/odoc/compile.ml
index faed378614..2e85beffe9 100644
--- a/src/odoc/compile.ml
+++ b/src/odoc/compile.ml
@@ -32,12 +32,9 @@ type parent_cli_spec =
 let check_is_none msg = function None -> Ok () | Some _ -> Error (`Msg msg)
 let check_is_empty msg = function [] -> Ok () | _ :: _ -> Error (`Msg msg)
 
-(** Raises warnings and errors. *)
-let lookup_implementation_of_cmti intf_file =
+let lookup_cmt_of_cmti intf_file =
   let input_file = Fs.File.set_ext ".cmt" intf_file in
-  if Fs.File.exists input_file then
-    let filename = Fs.File.to_string input_file in
-    Odoc_loader.read_cmt_infos ~filename |> Error.raise_errors_and_warnings
+  if Fs.File.exists input_file then Some input_file
   else (
     Error.raise_warning ~non_fatal:true
       (Error.filename_only
@@ -45,6 +42,14 @@ let lookup_implementation_of_cmti intf_file =
          (Fs.File.to_string intf_file));
     None)
 
+(** Raises warnings and errors. *)
+let lookup_implementation_of_cmti intf_file =
+  match lookup_cmt_of_cmti intf_file with
+  | Some filename ->
+      let filename = Fs.File.to_string filename in
+      Odoc_loader.read_cmt_infos ~filename |> Error.raise_errors_and_warnings
+  | None -> None
+
 (** Used to disambiguate child references. *)
 let is_module_name n = String.length n > 0 && Char.Ascii.is_upper n.[0]
 
diff --git a/src/odoc/compile.mli b/src/odoc/compile.mli
index 3b3206915a..907f8f0d73 100644
--- a/src/odoc/compile.mli
+++ b/src/odoc/compile.mli
@@ -23,6 +23,10 @@ type parent_cli_spec =
   | CliPackage of string
   | CliNoparent
 
+val lookup_cmt_of_cmti : Fs.File.t -> Fs.File.t option
+(** From a cmti file, returns the cmt file if it exists. If it does not esists,
+    raise a warning. *)
+
 val name_of_output : prefix:string -> Fs.File.t -> string
 (** Compute the name of the page from the output file. Prefix is the prefix to
     remove from the filename. *)
diff --git a/src/odoc/depends.ml b/src/odoc/depends.ml
index 100533fa0b..9cd4d12954 100644
--- a/src/odoc/depends.ml
+++ b/src/odoc/depends.ml
@@ -17,6 +17,8 @@
 open StdLabels
 open Or_error
 
+module Odoc_compile = Compile
+
 module Compile = struct
   type t = { unit_name : string; digest : Digest.t }
 
@@ -33,14 +35,18 @@ let for_compile_step_cmt file =
   let cmt_infos = Cmt_format.read_cmt (Fs.File.to_string file) in
   List.fold_left ~f:add_dep ~init:[] cmt_infos.Cmt_format.cmt_imports
 
-let for_compile_step_cmi_or_cmti file =
-  let cmi_infos = Cmi_format.read_cmi (Fs.File.to_string file) in
-  List.fold_left ~f:add_dep ~init:[] cmi_infos.Cmi_format.cmi_crcs
-
-let for_compile_step file =
-  match Fs.File.has_ext "cmt" file with
-  | true -> for_compile_step_cmt file
-  | false -> for_compile_step_cmi_or_cmti file
+let for_compile_step_cmi_or_cmti ~has_src file =
+  if has_src then
+    match Odoc_compile.lookup_cmt_of_cmti file with
+    | None -> []
+    | Some file -> for_compile_step_cmt file
+  else
+    let cmi_infos = Cmi_format.read_cmi (Fs.File.to_string file) in
+    List.fold_left ~f:add_dep ~init:[] cmi_infos.Cmi_format.cmi_crcs
+
+let for_compile_step ~has_src file =
+  if Fs.File.has_ext "cmt" file then for_compile_step_cmt file
+  else for_compile_step_cmi_or_cmti ~has_src file
 
 module Hash_set : sig
   type t
diff --git a/src/odoc/depends.mli b/src/odoc/depends.mli
index 9cfcc0b79e..5e5d04021f 100644
--- a/src/odoc/depends.mli
+++ b/src/odoc/depends.mli
@@ -27,7 +27,7 @@ module Compile : sig
   val digest : t -> Digest.t
 end
 
-val for_compile_step : Fs.File.t -> Compile.t list
+val for_compile_step : has_src:bool -> Fs.File.t -> Compile.t list
 (** Takes a [.cm{i,t,ti}] file and returns the list of its dependencies. *)
 
 val for_rendering_step :
diff --git a/test/sources/compile_deps.t/a.ml b/test/sources/compile_deps.t/a.ml
new file mode 100644
index 0000000000..8f054c9960
--- /dev/null
+++ b/test/sources/compile_deps.t/a.ml
@@ -0,0 +1 @@
+include B
diff --git a/test/sources/compile_deps.t/a.mli b/test/sources/compile_deps.t/a.mli
new file mode 100644
index 0000000000..3f79c81490
--- /dev/null
+++ b/test/sources/compile_deps.t/a.mli
@@ -0,0 +1 @@
+val a : int
diff --git a/test/sources/compile_deps.t/b.ml b/test/sources/compile_deps.t/b.ml
new file mode 100644
index 0000000000..9702086210
--- /dev/null
+++ b/test/sources/compile_deps.t/b.ml
@@ -0,0 +1 @@
+let a = 5
diff --git a/test/sources/compile_deps.t/run.t b/test/sources/compile_deps.t/run.t
new file mode 100644
index 0000000000..57f1f7994e
--- /dev/null
+++ b/test/sources/compile_deps.t/run.t
@@ -0,0 +1,28 @@
+Source code rendering needs the same compilation order as cmts.
+
+As a consequence, the dependencies should be taken from the cmt, when source
+code rendering is enabled. This must be specified using the --has-src flag for
+compile-deps
+
+  $ ocamlc -c b.ml -bin-annot
+  $ ocamlc -c a.mli -I . -bin-annot
+  $ ocamlc -c a.ml -I . -bin-annot
+
+[a.cmti] does not depend on B, while its implementation [a.cmt] depends on B.
+
+  $ odoc compile-deps a.cmti
+  CamlinternalFormatBasics 8f8f634558798ee408df3c50a5539b15
+  Stdlib 6d7bf11af14ea68354925f3a37387930
+  A 21e6137bd9b3aaa3c66960387b5f32c0
+  $ odoc compile-deps a.cmt
+  Stdlib 6d7bf11af14ea68354925f3a37387930
+  CamlinternalFormatBasics 8f8f634558798ee408df3c50a5539b15
+  B 903ddd9b7c0fa4ee6d34b4af6358d1e1
+  A 21e6137bd9b3aaa3c66960387b5f32c0
+
+Must contain B:
+  $ odoc compile-deps --has-src a.cmti
+  Stdlib 6d7bf11af14ea68354925f3a37387930
+  CamlinternalFormatBasics 8f8f634558798ee408df3c50a5539b15
+  B 903ddd9b7c0fa4ee6d34b4af6358d1e1
+  A 21e6137bd9b3aaa3c66960387b5f32c0