diff --git a/compiler/backend/src/org/jetbrains/kotlin/codegen/FieldInfo.java b/compiler/backend/src/org/jetbrains/kotlin/codegen/FieldInfo.java
index 9c0bcbdcdb9..0f5e6503836 100644
--- a/compiler/backend/src/org/jetbrains/kotlin/codegen/FieldInfo.java
+++ b/compiler/backend/src/org/jetbrains/kotlin/codegen/FieldInfo.java
@@ -20,6 +20,7 @@ import org.jetbrains.annotations.NotNull;
 import org.jetbrains.kotlin.codegen.state.JetTypeMapper;
 import org.jetbrains.kotlin.descriptors.ClassDescriptor;
 import org.jetbrains.kotlin.descriptors.ClassKind;
+import org.jetbrains.kotlin.descriptors.ClassifierDescriptor;
 import org.jetbrains.kotlin.load.java.JvmAbi;
 import org.jetbrains.kotlin.resolve.DescriptorUtils;
 import org.jetbrains.org.objectweb.asm.Type;
@@ -44,6 +45,18 @@ public class FieldInfo {
         }
     }
 
+    @SuppressWarnings("deprecation")
+    @NotNull
+    public static FieldInfo deprecatedFieldForClassObject(@NotNull ClassDescriptor classObject, @NotNull JetTypeMapper typeMapper) {
+        assert DescriptorUtils.isClassObject(classObject) : "Not a class object: " + classObject;
+        return new FieldInfo(
+                typeMapper.mapType((ClassifierDescriptor) classObject.getContainingDeclaration()),
+                typeMapper.mapType(classObject),
+                JvmAbi.DEPRECATED_CLASS_OBJECT_FIELD,
+                true
+        );
+    }
+
     @NotNull
     public static FieldInfo createForHiddenField(@NotNull Type owner, @NotNull Type fieldType, @NotNull String fieldName) {
         return new FieldInfo(owner, fieldType, fieldName, false);
diff --git a/compiler/backend/src/org/jetbrains/kotlin/codegen/ImplementationBodyCodegen.java b/compiler/backend/src/org/jetbrains/kotlin/codegen/ImplementationBodyCodegen.java
index 96e7a28ea06..934f2849390 100644
--- a/compiler/backend/src/org/jetbrains/kotlin/codegen/ImplementationBodyCodegen.java
+++ b/compiler/backend/src/org/jetbrains/kotlin/codegen/ImplementationBodyCodegen.java
@@ -37,6 +37,7 @@ import org.jetbrains.kotlin.lexer.JetTokens;
 import org.jetbrains.kotlin.load.java.JvmAbi;
 import org.jetbrains.kotlin.load.java.JvmAnnotationNames;
 import org.jetbrains.kotlin.load.java.descriptors.JavaCallableMemberDescriptor;
+import org.jetbrains.kotlin.name.FqName;
 import org.jetbrains.kotlin.name.Name;
 import org.jetbrains.kotlin.psi.*;
 import org.jetbrains.kotlin.resolve.BindingContext;
@@ -961,7 +962,8 @@ public class ImplementationBodyCodegen extends ClassBodyCodegen {
         if (isEnumEntry(descriptor) || isClassObject(descriptor)) return;
 
         if (isObject(descriptor)) {
-            createFieldForSingleton(descriptor, myClass);
+            StackValue.Field field = StackValue.singleton(descriptor, typeMapper);
+            v.newField(OtherOrigin(myClass), ACC_PUBLIC | ACC_STATIC | ACC_FINAL, field.name, field.type.getDescriptor(), null, null);
 
             if (state.getClassBuilderMode() != ClassBuilderMode.FULL) return;
 
@@ -980,7 +982,14 @@ public class ImplementationBodyCodegen extends ClassBodyCodegen {
         JetObjectDeclaration classObject = ((JetClass) myClass).getClassObject();
         assert classObject != null : "Class object not found: " + myClass.getText();
 
-        createFieldForSingleton(classObjectDescriptor, classObject);
+        StackValue.Field field = StackValue.singleton(classObjectDescriptor, typeMapper);
+        v.newField(OtherOrigin(classObject), ACC_PUBLIC | ACC_STATIC | ACC_FINAL, field.name, field.type.getDescriptor(), null, null);
+
+        StackValue.Field deprecatedField = StackValue.deprecatedClassObjectAccessor(classObjectDescriptor, typeMapper);
+        FieldVisitor fv = v.newField(OtherOrigin(classObject), ACC_PUBLIC | ACC_STATIC | ACC_FINAL | ACC_DEPRECATED,
+                                     deprecatedField.name, deprecatedField.type.getDescriptor(), null, null);
+
+        fv.visitAnnotation(asmDescByFqNameWithoutInnerClasses(new FqName("java.lang.Deprecated")), true).visitEnd();
 
         if (state.getClassBuilderMode() != ClassBuilderMode.FULL) return;
 
@@ -989,12 +998,6 @@ public class ImplementationBodyCodegen extends ClassBodyCodegen {
         }
     }
 
-    private void createFieldForSingleton(@NotNull ClassDescriptor fieldTypeDescriptor, @NotNull JetClassOrObject original) {
-        StackValue.Field field = StackValue.singleton(fieldTypeDescriptor, typeMapper);
-
-        v.newField(OtherOrigin(original), ACC_PUBLIC | ACC_STATIC | ACC_FINAL, field.name, field.type.getDescriptor(), null, null);
-    }
-
     private void generateClassObjectBackingFieldCopies() {
         if (classObjectPropertiesToCopy == null) return;
 
@@ -1044,7 +1047,10 @@ public class ImplementationBodyCodegen extends ClassBodyCodegen {
         ExpressionCodegen codegen = createOrGetClInitCodegen();
         FunctionDescriptor constructor = codegen.accessibleFunctionDescriptor(KotlinPackage.single(classObject.getConstructors()));
         generateMethodCallTo(constructor, codegen.v);
-        StackValue.singleton(classObject, typeMapper).store(StackValue.onStack(typeMapper.mapClass(classObject)), codegen.v, true);
+        codegen.v.dup();
+        StackValue instance = StackValue.onStack(typeMapper.mapClass(classObject));
+        StackValue.singleton(classObject, typeMapper).store(instance, codegen.v, true);
+        StackValue.deprecatedClassObjectAccessor(classObject, typeMapper).store(instance, codegen.v, true);
     }
 
     private void generatePrimaryConstructor(final DelegationFieldsInfo delegationFieldsInfo) {
@@ -1131,7 +1137,6 @@ public class ImplementationBodyCodegen extends ClassBodyCodegen {
 
         if (isClassObjectWithBackingFieldsInOuter(descriptor)) {
             final ImplementationBodyCodegen parentCodegen = (ImplementationBodyCodegen) getParentCodegen();
-            //generate OBJECT$
             parentCodegen.generateClassObjectInitializer(descriptor);
             generateInitializers(new Function0<ExpressionCodegen>() {
                 @Override
diff --git a/compiler/backend/src/org/jetbrains/kotlin/codegen/StackValue.java b/compiler/backend/src/org/jetbrains/kotlin/codegen/StackValue.java
index bd772d304fd..fe55f1c692d 100644
--- a/compiler/backend/src/org/jetbrains/kotlin/codegen/StackValue.java
+++ b/compiler/backend/src/org/jetbrains/kotlin/codegen/StackValue.java
@@ -206,6 +206,10 @@ public abstract class StackValue {
         return new Field(field.type, field.owner, field.name, field.isStaticPut, newReceiver);
     }
 
+    @NotNull
+    private static Field field(@NotNull FieldInfo info) {
+        return field(info.getFieldType(), Type.getObjectType(info.getOwnerInternalName()), info.getFieldName(), true, none());
+    }
 
     @NotNull
     public static StackValue changeReceiverForFieldAndSharedVar(@NotNull StackValueWithSimpleReceiver stackValue, @Nullable StackValue newReceiver) {
@@ -506,8 +510,11 @@ public abstract class StackValue {
     }
 
     public static Field singleton(ClassDescriptor classDescriptor, JetTypeMapper typeMapper) {
-        FieldInfo info = FieldInfo.createForSingleton(classDescriptor, typeMapper);
-        return field(info.getFieldType(), Type.getObjectType(info.getOwnerInternalName()), info.getFieldName(), true, none());
+        return field(FieldInfo.createForSingleton(classDescriptor, typeMapper));
+    }
+
+    public static Field deprecatedClassObjectAccessor(ClassDescriptor classDescriptor, JetTypeMapper typeMapper) {
+        return field(FieldInfo.deprecatedFieldForClassObject(classDescriptor, typeMapper));
     }
 
     public static StackValue operation(Type type, Function1<InstructionAdapter, Unit> lambda) {
diff --git a/core/descriptor.loader.java/src/org/jetbrains/kotlin/load/java/JvmAbi.java b/core/descriptor.loader.java/src/org/jetbrains/kotlin/load/java/JvmAbi.java
index ca1e6b43ef1..3cc449275a0 100644
--- a/core/descriptor.loader.java/src/org/jetbrains/kotlin/load/java/JvmAbi.java
+++ b/core/descriptor.loader.java/src/org/jetbrains/kotlin/load/java/JvmAbi.java
@@ -45,6 +45,10 @@ public final class JvmAbi {
     public static final String KOTLIN_CLASS_FIELD_NAME = "$kotlinClass";
     public static final String KOTLIN_PACKAGE_FIELD_NAME = "$kotlinPackage";
 
+    //TODO: To be removed after kotlin M11
+    @Deprecated
+    public static final String DEPRECATED_CLASS_OBJECT_FIELD = "OBJECT$";
+
     @NotNull
     public static String getSyntheticMethodNameForAnnotatedProperty(@NotNull Name propertyName) {
         return propertyName.asString() + ANNOTATED_PROPERTY_METHOD_NAME_SUFFIX;