diff --git a/docs/common_settings_doc.md b/docs/common_settings_doc.md
index 7de7965..b224f52 100755
--- a/docs/common_settings_doc.md
+++ b/docs/common_settings_doc.md
@@ -50,7 +50,7 @@ A bool-typed build setting that cannot be set on the command line
 ## int_flag
 
 <pre>
-int_flag(<a href="#int_flag-name">name</a>)
+int_flag(<a href="#int_flag-name">name</a>, <a href="#int_flag-make_variable">make_variable</a>)
 </pre>
 
 An int-typed build setting that can be set on the command line
@@ -61,6 +61,7 @@ An int-typed build setting that can be set on the command line
 | Name  | Description | Type | Mandatory | Default |
 | :------------- | :------------- | :------------- | :------------- | :------------- |
 | <a id="int_flag-name"></a>name |  A unique name for this target.   | <a href="https://bazel.build/concepts/labels#target-names">Name</a> | required |  |
+| <a id="int_flag-make_variable"></a>make_variable |  If set, the build setting's value will be available as a Make variable with this name in the attributes of rules that list this build setting in their 'toolchains' attribute.   | String | optional | <code>""</code> |
 
 
 <a id="int_setting"></a>
@@ -68,7 +69,7 @@ An int-typed build setting that can be set on the command line
 ## int_setting
 
 <pre>
-int_setting(<a href="#int_setting-name">name</a>)
+int_setting(<a href="#int_setting-name">name</a>, <a href="#int_setting-make_variable">make_variable</a>)
 </pre>
 
 An int-typed build setting that cannot be set on the command line
@@ -79,6 +80,7 @@ An int-typed build setting that cannot be set on the command line
 | Name  | Description | Type | Mandatory | Default |
 | :------------- | :------------- | :------------- | :------------- | :------------- |
 | <a id="int_setting-name"></a>name |  A unique name for this target.   | <a href="https://bazel.build/concepts/labels#target-names">Name</a> | required |  |
+| <a id="int_setting-make_variable"></a>make_variable |  If set, the build setting's value will be available as a Make variable with this name in the attributes of rules that list this build setting in their 'toolchains' attribute.   | String | optional | <code>""</code> |
 
 
 <a id="string_flag"></a>
@@ -86,7 +88,7 @@ An int-typed build setting that cannot be set on the command line
 ## string_flag
 
 <pre>
-string_flag(<a href="#string_flag-name">name</a>, <a href="#string_flag-values">values</a>)
+string_flag(<a href="#string_flag-name">name</a>, <a href="#string_flag-make_variable">make_variable</a>, <a href="#string_flag-values">values</a>)
 </pre>
 
 A string-typed build setting that can be set on the command line
@@ -97,6 +99,7 @@ A string-typed build setting that can be set on the command line
 | Name  | Description | Type | Mandatory | Default |
 | :------------- | :------------- | :------------- | :------------- | :------------- |
 | <a id="string_flag-name"></a>name |  A unique name for this target.   | <a href="https://bazel.build/concepts/labels#target-names">Name</a> | required |  |
+| <a id="string_flag-make_variable"></a>make_variable |  If set, the build setting's value will be available as a Make variable with this name in the attributes of rules that list this build setting in their 'toolchains' attribute.   | String | optional | <code>""</code> |
 | <a id="string_flag-values"></a>values |  The list of allowed values for this setting. An error is raised if any other value is given.   | List of strings | optional | <code>[]</code> |
 
 
@@ -141,7 +144,7 @@ A string list-typed build setting that cannot be set on the command line
 ## string_setting
 
 <pre>
-string_setting(<a href="#string_setting-name">name</a>, <a href="#string_setting-values">values</a>)
+string_setting(<a href="#string_setting-name">name</a>, <a href="#string_setting-make_variable">make_variable</a>, <a href="#string_setting-values">values</a>)
 </pre>
 
 A string-typed build setting that cannot be set on the command line
@@ -152,6 +155,7 @@ A string-typed build setting that cannot be set on the command line
 | Name  | Description | Type | Mandatory | Default |
 | :------------- | :------------- | :------------- | :------------- | :------------- |
 | <a id="string_setting-name"></a>name |  A unique name for this target.   | <a href="https://bazel.build/concepts/labels#target-names">Name</a> | required |  |
+| <a id="string_setting-make_variable"></a>make_variable |  If set, the build setting's value will be available as a Make variable with this name in the attributes of rules that list this build setting in their 'toolchains' attribute.   | String | optional | <code>""</code> |
 | <a id="string_setting-values"></a>values |  The list of allowed values for this setting. An error is raised if any other value is given.   | List of strings | optional | <code>[]</code> |
 
 
diff --git a/rules/common_settings.bzl b/rules/common_settings.bzl
index eb057cc..58a15ae 100644
--- a/rules/common_settings.bzl
+++ b/rules/common_settings.bzl
@@ -30,18 +30,52 @@ BuildSettingInfo = provider(
     },
 )
 
+_MAKE_VARIABLE_ATTR = attr.string(
+    doc = "If set, the build setting's value will be available as a Make variable with this " +
+          "name in the attributes of rules that list this build setting in their 'toolchains' " +
+          "attribute.",
+)
+
+def _is_valid_make_variable_char(c):
+    # Restrict make variable names for consistency with predefined ones. There are no enforced
+    # restrictions on make variable names, but when they contain e.g. spaces or braces, they
+    # aren't expanded by e.g. cc_binary.
+    return c == "_" or c.isdigit() or (c.isalpha() and c.isupper())
+
+def _get_template_variable_info(ctx):
+    make_variable = getattr(ctx.attr, "make_variable", None)
+    if not make_variable:
+        return []
+
+    if not all([_is_valid_make_variable_char(c) for c in make_variable.elems()]):
+        fail("Error setting " + _no_at_str(ctx.label) + ": invalid make variable name '" + make_variable + "'. Make variable names may only contain uppercase letters, digits, and underscores.")
+
+    return [
+        platform_common.TemplateVariableInfo({
+            make_variable: str(ctx.build_setting_value),
+        }),
+    ]
+
 def _impl(ctx):
-    return BuildSettingInfo(value = ctx.build_setting_value)
+    return [
+        BuildSettingInfo(value = ctx.build_setting_value),
+    ] + _get_template_variable_info(ctx)
 
 int_flag = rule(
     implementation = _impl,
     build_setting = config.int(flag = True),
+    attrs = {
+        "make_variable": _MAKE_VARIABLE_ATTR,
+    },
     doc = "An int-typed build setting that can be set on the command line",
 )
 
 int_setting = rule(
     implementation = _impl,
     build_setting = config.int(),
+    attrs = {
+        "make_variable": _MAKE_VARIABLE_ATTR,
+    },
     doc = "An int-typed build setting that cannot be set on the command line",
 )
 
@@ -82,7 +116,7 @@ def _string_impl(ctx):
     allowed_values = ctx.attr.values
     value = ctx.build_setting_value
     if len(allowed_values) == 0 or value in ctx.attr.values:
-        return BuildSettingInfo(value = value)
+        return [BuildSettingInfo(value = value)] + _get_template_variable_info(ctx)
     else:
         fail("Error setting " + _no_at_str(ctx.label) + ": invalid value '" + value + "'. Allowed values are " + str(allowed_values))
 
@@ -93,6 +127,7 @@ string_flag = rule(
         "values": attr.string_list(
             doc = "The list of allowed values for this setting. An error is raised if any other value is given.",
         ),
+        "make_variable": _MAKE_VARIABLE_ATTR,
     },
     doc = "A string-typed build setting that can be set on the command line",
 )
@@ -104,6 +139,7 @@ string_setting = rule(
         "values": attr.string_list(
             doc = "The list of allowed values for this setting. An error is raised if any other value is given.",
         ),
+        "make_variable": _MAKE_VARIABLE_ATTR,
     },
     doc = "A string-typed build setting that cannot be set on the command line",
 )
diff --git a/tests/BUILD b/tests/BUILD
index bbab077..7f056d2 100644
--- a/tests/BUILD
+++ b/tests/BUILD
@@ -1,6 +1,7 @@
 load("//:bzl_library.bzl", "bzl_library")
 load(":build_test_tests.bzl", "build_test_test_suite")
 load(":collections_tests.bzl", "collections_test_suite")
+load(":common_settings_tests.bzl", "common_settings_test_suite")
 load(":dicts_tests.bzl", "dicts_test_suite")
 load(":new_sets_tests.bzl", "new_sets_test_suite")
 load(":partial_tests.bzl", "partial_test_suite")
@@ -24,6 +25,8 @@ build_test_test_suite()
 
 collections_test_suite()
 
+common_settings_test_suite()
+
 dicts_test_suite()
 
 new_sets_test_suite()
diff --git a/tests/common_settings/BUILD b/tests/common_settings/BUILD
new file mode 100644
index 0000000..bbf32d5
--- /dev/null
+++ b/tests/common_settings/BUILD
@@ -0,0 +1,25 @@
+load("//rules:common_settings.bzl", "int_flag", "string_flag")
+
+int_flag(
+    name = "my_int_flag",
+    build_setting_default = 42,
+    make_variable = "MY_INT_FLAG",
+)
+
+string_flag(
+    name = "my_string_flag",
+    build_setting_default = "foo",
+    make_variable = "MY_STRING_FLAG",
+)
+
+sh_test(
+    name = "make_variable_test",
+    srcs = ["make_variable_test.sh"],
+    env = {
+        "MESSAGE": "Hello, $(MY_STRING_FLAG)! My name is $(MY_INT_FLAG).",
+    },
+    toolchains = [
+        ":my_int_flag",
+        ":my_string_flag",
+    ],
+)
diff --git a/tests/common_settings/make_variable_test.sh b/tests/common_settings/make_variable_test.sh
new file mode 100755
index 0000000..546c53d
--- /dev/null
+++ b/tests/common_settings/make_variable_test.sh
@@ -0,0 +1,17 @@
+#!/usr/bin/env bash
+
+# Copyright 2023 The Bazel Authors. All rights reserved.
+#
+# Licensed under the Apache License, Version 2.0 (the "License");
+# you may not use this file except in compliance with the License.
+# You may obtain a copy of the License at
+#
+#    http://www.apache.org/licenses/LICENSE-2.0
+#
+# Unless required by applicable law or agreed to in writing, software
+# distributed under the License is distributed on an "AS IS" BASIS,
+# WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+# See the License for the specific language governing permissions and
+# limitations under the License.
+
+[[ "$MESSAGE" == "Hello, foo! My name is 42." ]]
diff --git a/tests/common_settings_tests.bzl b/tests/common_settings_tests.bzl
new file mode 100644
index 0000000..efbe0e0
--- /dev/null
+++ b/tests/common_settings_tests.bzl
@@ -0,0 +1,167 @@
+# Copyright 2023 The Bazel Authors. All rights reserved.
+#
+# Licensed under the Apache License, Version 2.0 (the "License");
+# you may not use this file except in compliance with the License.
+# You may obtain a copy of the License at
+#
+#    http://www.apache.org/licenses/LICENSE-2.0
+#
+# Unless required by applicable law or agreed to in writing, software
+# distributed under the License is distributed on an "AS IS" BASIS,
+# WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+# See the License for the specific language governing permissions and
+# limitations under the License.
+
+"""Analysis tests for common_settings.bzl."""
+
+load("//lib:unittest.bzl", "analysistest", "asserts")
+load("//rules:common_settings.bzl", "int_flag", "int_setting", "string_flag", "string_setting")
+
+def _template_variable_info_contents_test_impl(ctx):
+    env = analysistest.begin(ctx)
+
+    target_under_test = analysistest.target_under_test(env)
+    if ctx.attr.expected:
+        asserts.equals(
+            env,
+            expected = ctx.attr.expected,
+            actual = target_under_test[platform_common.TemplateVariableInfo].variables,
+        )
+    else:
+        asserts.false(env, platform_common.TemplateVariableInfo in target_under_test)
+
+    return analysistest.end(env)
+
+_template_variable_info_contents_test = analysistest.make(
+    _template_variable_info_contents_test_impl,
+    attrs = {
+        "expected": attr.string_dict(),
+    },
+)
+
+def _test_template_variable_info_contents():
+    int_flag(
+        name = "my_int_flag",
+        build_setting_default = 42,
+        make_variable = "MY_INT_1",
+    )
+
+    _template_variable_info_contents_test(
+        name = "my_int_flag_test",
+        target_under_test = ":my_int_flag",
+        expected = {
+            "MY_INT_1": "42",
+        },
+    )
+
+    int_setting(
+        name = "my_int_setting",
+        build_setting_default = 21,
+        make_variable = "MY_INT_2",
+    )
+
+    _template_variable_info_contents_test(
+        name = "my_int_setting_test",
+        target_under_test = ":my_int_setting",
+        expected = {
+            "MY_INT_2": "21",
+        },
+    )
+
+    string_flag(
+        name = "my_string_flag",
+        build_setting_default = "foo",
+        make_variable = "MY_STRING_1",
+    )
+
+    _template_variable_info_contents_test(
+        name = "my_string_flag_test",
+        target_under_test = ":my_string_flag",
+        expected = {
+            "MY_STRING_1": "foo",
+        },
+    )
+
+    string_setting(
+        name = "my_string_setting",
+        build_setting_default = "bar",
+        make_variable = "MY_STRING_2",
+    )
+
+    _template_variable_info_contents_test(
+        name = "my_string_setting_test",
+        target_under_test = ":my_string_setting",
+        expected = {
+            "MY_STRING_2": "bar",
+        },
+    )
+
+    string_flag(
+        name = "my_string_flag_without_make_variable",
+        build_setting_default = "foo",
+    )
+
+    _template_variable_info_contents_test(
+        name = "my_string_flag_without_make_variable_test",
+        target_under_test = ":my_string_flag_without_make_variable",
+        expected = {},
+    )
+
+def _failure_test_impl(ctx):
+    env = analysistest.begin(ctx)
+
+    asserts.expect_failure(env, ctx.attr.expected_failure)
+
+    return analysistest.end(env)
+
+_failure_test = analysistest.make(
+    _failure_test_impl,
+    attrs = {
+        "expected_failure": attr.string(),
+    },
+    expect_failure = True,
+)
+
+def _test_make_variable_name_failures():
+    int_flag(
+        name = "my_failing_int_flag",
+        build_setting_default = 42,
+        make_variable = "my_int_1",
+        tags = ["manual"],
+    )
+
+    _failure_test(
+        name = "my_failing_int_flag_test",
+        target_under_test = ":my_failing_int_flag",
+        expected_failure = "Error setting //tests:my_failing_int_flag: invalid make variable name 'my_int_1'. Make variable names may only contain uppercase letters, digits, and underscores.",
+    )
+
+    string_flag(
+        name = "my_failing_string_flag",
+        build_setting_default = "foo",
+        make_variable = "MY STRING",
+        tags = ["manual"],
+    )
+
+    _failure_test(
+        name = "my_failing_string_flag_test",
+        target_under_test = ":my_failing_string_flag",
+        expected_failure = "Error setting //tests:my_failing_string_flag: invalid make variable name 'MY STRING'. Make variable names may only contain uppercase letters, digits, and underscores.",
+    )
+
+def common_settings_test_suite(name = "common_settings_test_suite"):
+    _test_template_variable_info_contents()
+    _test_make_variable_name_failures()
+
+    native.test_suite(
+        name = "common_settings_test_suite",
+        tests = [
+            "my_int_flag_test",
+            "my_int_setting_test",
+            "my_string_flag_test",
+            "my_string_setting_test",
+            "my_string_flag_without_make_variable_test",
+            "my_failing_int_flag_test",
+            "my_failing_string_flag_test",
+        ],
+    )
diff --git a/tests/subpackages_tests.bzl b/tests/subpackages_tests.bzl
index 07a52e9..3c494d6 100644
--- a/tests/subpackages_tests.bzl
+++ b/tests/subpackages_tests.bzl
@@ -21,6 +21,7 @@ def _all_test(env):
     """Unit tests for subpackages.all."""
 
     all_pkgs = [
+        "common_settings",
         "copy_directory",
         "copy_file",
         "diff_test",
@@ -38,6 +39,7 @@ def _all_test(env):
 
     # These exist in all cases
     filtered_pkgs = [
+        "common_settings",
         "copy_directory",
         "copy_file",
         "expand_template",