diff --git a/Cargo.lock b/Cargo.lock
index 38a575a17c..2a5133dfc0 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1135,6 +1135,15 @@ version = "0.2.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "4443176a9f2c162692bd3d352d745ef9413eec5782a80d8fd6f8a1ac692a07f7"
 
+[[package]]
+name = "fastrand"
+version = "1.7.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "c3fcf0cee53519c866c09b5de1f6c56ff9d647101f81c1964fa632e148896cdf"
+dependencies = [
+ "instant",
+]
+
 [[package]]
 name = "ff"
 version = "0.10.1"
@@ -2373,9 +2382,9 @@ dependencies = [
 
 [[package]]
 name = "redox_syscall"
-version = "0.2.8"
+version = "0.2.10"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "742739e41cd49414de871ea5e549afb7e2a3ac77b589bcbebe8c82fab37147fc"
+checksum = "8383f39639269cde97d255a32bdb68c047337295414940c68bdd30c2e13203ff"
 dependencies = [
  "bitflags",
 ]
@@ -2816,13 +2825,13 @@ checksum = "64ae3b39281e4b14b8123bdbaddd472b7dfe215e444181f2f9d2443c2444f834"
 
 [[package]]
 name = "tempfile"
-version = "3.2.0"
+version = "3.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dac1c663cfc93810f88aed9b8941d48cabf856a1b111c29a40439018d870eb22"
+checksum = "5cdb1ef4eaeeaddc8fbd371e5017057064af0911902ef36b39801f67cc6d79e4"
 dependencies = [
  "cfg-if 1.0.0",
+ "fastrand",
  "libc",
- "rand 0.8.3",
  "redox_syscall",
  "remove_dir_all",
  "winapi",
@@ -3584,6 +3593,7 @@ dependencies = [
  "env_logger 0.8.3",
  "log",
  "rayon",
+ "tempfile",
  "v8",
  "wasm-encoder",
  "wasm-smith",
diff --git a/crates/fuzzing/Cargo.toml b/crates/fuzzing/Cargo.toml
index 78fbe055c4..6c89ab9962 100644
--- a/crates/fuzzing/Cargo.toml
+++ b/crates/fuzzing/Cargo.toml
@@ -13,6 +13,7 @@ arbitrary = { version = "1.0.0", features = ["derive"] }
 env_logger = "0.8.1"
 log = "0.4.8"
 rayon = "1.2.1"
+tempfile = "3.3.0"
 wasmparser = "0.82"
 wasmprinter = "0.2.32"
 wasmtime = { path = "../wasmtime" }
diff --git a/crates/fuzzing/src/generators.rs b/crates/fuzzing/src/generators.rs
index 157d0335b3..e91d3f3f97 100644
--- a/crates/fuzzing/src/generators.rs
+++ b/crates/fuzzing/src/generators.rs
@@ -17,7 +17,7 @@ use arbitrary::{Arbitrary, Unstructured};
 use std::sync::Arc;
 use std::time::Duration;
 use wasm_smith::SwarmConfig;
-use wasmtime::{Engine, LinearMemory, MemoryCreator, MemoryType, Store};
+use wasmtime::{Engine, LinearMemory, MemoryCreator, MemoryType, Module, Store};
 
 #[derive(Arbitrary, Clone, Debug, PartialEq, Eq, Hash)]
 enum OptLevel {
@@ -62,6 +62,7 @@ pub struct WasmtimeConfig {
     memory_config: MemoryConfig,
     force_jump_veneers: bool,
     memfd: bool,
+    use_precompiled_cwasm: bool,
 }
 
 #[derive(Arbitrary, Clone, Debug, Eq, Hash, PartialEq)]
@@ -170,6 +171,26 @@ impl Config {
             Ok(Timeout::Fuel(100_000))
         }
     }
+
+    /// Compiles the `wasm` within the `engine` provided.
+    ///
+    /// This notably will use `Module::{serialize,deserialize_file}` to
+    /// round-trip if configured in the fuzzer.
+    pub fn compile(&self, engine: &Engine, wasm: &[u8]) -> Result<Module> {
+        // Propagate this error in case the caller wants to handle
+        // valid-vs-invalid wasm.
+        let module = Module::new(engine, wasm)?;
+        if !self.wasmtime.use_precompiled_cwasm {
+            return Ok(module);
+        }
+
+        // Don't propagate these errors to prevent them from accidentally being
+        // interpreted as invalid wasm, these should never fail on a
+        // well-behaved host system.
+        let file = tempfile::NamedTempFile::new().unwrap();
+        std::fs::write(file.path(), module.serialize().unwrap()).unwrap();
+        unsafe { Ok(Module::deserialize_file(engine, file.path()).unwrap()) }
+    }
 }
 
 struct UnalignedMemoryCreator;
diff --git a/crates/fuzzing/src/oracles.rs b/crates/fuzzing/src/oracles.rs
index b351516d95..9d5a647d9f 100644
--- a/crates/fuzzing/src/oracles.rs
+++ b/crates/fuzzing/src/oracles.rs
@@ -143,7 +143,7 @@ pub fn instantiate(wasm: &[u8], known_valid: bool, config: &generators::Config,
     }
 
     log_wasm(wasm);
-    let module = match Module::new(store.engine(), wasm) {
+    let module = match config.compile(store.engine(), wasm) {
         Ok(module) => module,
         Err(_) if !known_valid => return,
         Err(e) => panic!("failed to compile module: {:?}", e),
@@ -222,7 +222,7 @@ pub fn differential_execution(
         log::debug!("fuzz config: {:?}", fuzz_config);
 
         let mut store = fuzz_config.to_store();
-        let module = Module::new(store.engine(), &wasm).unwrap();
+        let module = fuzz_config.compile(store.engine(), &wasm).unwrap();
 
         // TODO: we should implement tracing versions of these dummy imports
         // that record a trace of the order that imported functions were called
@@ -432,7 +432,7 @@ pub fn table_ops(mut fuzz_config: generators::Config, ops: generators::table_ops
 
         let wasm = ops.to_wasm_binary();
         log_wasm(&wasm);
-        let module = match Module::new(store.engine(), &wasm) {
+        let module = match fuzz_config.compile(store.engine(), &wasm) {
             Ok(m) => m,
             Err(_) => return,
         };
@@ -736,7 +736,9 @@ fn differential_store(
     fuzz_config: &generators::Config,
 ) -> (Module, Store<StoreLimits>) {
     let store = fuzz_config.to_store();
-    let module = Module::new(store.engine(), &wasm).expect("Wasmtime can compile module");
+    let module = fuzz_config
+        .compile(store.engine(), wasm)
+        .expect("Wasmtime can compile module");
     (module, store)
 }