diff --git a/compiler/cli/cli-js/src/org/jetbrains/kotlin/cli/js/K2JsIrCompiler.kt b/compiler/cli/cli-js/src/org/jetbrains/kotlin/cli/js/K2JsIrCompiler.kt
index 599d593cc16..ad3a44c1764 100644
--- a/compiler/cli/cli-js/src/org/jetbrains/kotlin/cli/js/K2JsIrCompiler.kt
+++ b/compiler/cli/cli-js/src/org/jetbrains/kotlin/cli/js/K2JsIrCompiler.kt
@@ -650,7 +650,7 @@ class K2JsIrCompiler : CLICompiler<K2JSCompilerArguments>() {
             val cacheUpdater = CacheUpdater(
                 mainModule = arguments.includes!!,
                 allModules = libraries,
-                icCachePaths = cacheDirectories,
+                icCacheRootDir = cacheDirectories.last(),
                 compilerConfiguration = configurationJs,
                 irFactory = { IrFactoryImplForJsIC(WholeWorldStageController()) },
                 mainArguments = mainCallArguments,
diff --git a/compiler/ir/backend.js/src/org/jetbrains/kotlin/ir/backend/js/ic/CacheUpdater.kt b/compiler/ir/backend.js/src/org/jetbrains/kotlin/ir/backend/js/ic/CacheUpdater.kt
index 3d8f15ed005..a9dd86ce071 100644
--- a/compiler/ir/backend.js/src/org/jetbrains/kotlin/ir/backend/js/ic/CacheUpdater.kt
+++ b/compiler/ir/backend.js/src/org/jetbrains/kotlin/ir/backend/js/ic/CacheUpdater.kt
@@ -17,6 +17,7 @@ import org.jetbrains.kotlin.library.KLIB_PROPERTY_DEPENDS
 import org.jetbrains.kotlin.library.KotlinLibrary
 import org.jetbrains.kotlin.name.FqName
 import java.io.File
+import java.security.MessageDigest
 import java.util.EnumSet
 
 fun interface JsIrCompilerICInterface {
@@ -48,7 +49,7 @@ enum class DirtyFileState(val str: String) {
 class CacheUpdater(
     mainModule: String,
     allModules: Collection<String>,
-    icCachePaths: Collection<String>,
+    private val icCacheRootDir: String,
     private val compilerConfiguration: CompilerConfiguration,
     private val irFactory: () -> IrFactory,
     private val mainArguments: List<String>?,
@@ -60,8 +61,6 @@ class CacheUpdater(
     private val dependencyGraph = buildDependenciesGraph(libraries)
     private val configHash = compilerConfiguration.configHashForIC()
 
-    private val cacheMap = libraries.values.zip(icCachePaths).toMap()
-
     private val mainLibraryFile = KotlinLibraryFile(File(mainModule).canonicalPath)
     private val mainLibrary = libraries[mainLibraryFile] ?: notFoundIcError("main library", mainLibraryFile)
 
@@ -114,9 +113,13 @@ class CacheUpdater(
     private inner class CacheUpdaterInternal {
         val signatureHashCalculator = IdSignatureHashCalculator()
 
-        private val incrementalCaches = libraries.entries.associate { (libFile, lib) ->
-            val cachePath = cacheMap[lib] ?: notFoundIcError("cache path", KotlinLibraryFile(lib))
-            libFile to IncrementalCache(lib, cachePath)
+        private val incrementalCaches = run {
+            val md5 = MessageDigest.getInstance("MD5")
+            libraries.entries.associate { (libFile, lib) ->
+                val file = File(libFile.path)
+                val hash = md5.digest(file.absolutePath.encodeToByteArray()).joinToString("", transform = { "%02x".format(it) })
+                libFile to IncrementalCache(lib, File(icCacheRootDir, "${file.name}.$hash"))
+            }
         }
 
         private fun getLibIncrementalCache(libFile: KotlinLibraryFile) =
diff --git a/compiler/ir/backend.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IncrementalCache.kt b/compiler/ir/backend.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IncrementalCache.kt
index da8eba6e275..b8cbc5b3b42 100644
--- a/compiler/ir/backend.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IncrementalCache.kt
+++ b/compiler/ir/backend.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IncrementalCache.kt
@@ -14,7 +14,7 @@ import org.jetbrains.kotlin.protobuf.CodedOutputStream
 import java.io.File
 
 
-internal class IncrementalCache(private val library: KotlinLibrary, cachePath: String) {
+internal class IncrementalCache(private val library: KotlinLibrary, private val cacheDir: File) {
     companion object {
         private const val CACHE_HEADER = "ic.header.bin"
 
@@ -24,7 +24,6 @@ internal class IncrementalCache(private val library: KotlinLibrary, cachePath: S
     }
 
     private var forceRebuildJs = false
-    private val cacheDir = File(cachePath)
     private val signatureToIndexMappingFromMetadata = hashMapOf<KotlinSourceFile, MutableMap<IdSignature, Int>>()
 
     private val libraryFile = KotlinLibraryFile(library)
diff --git a/js/js.tests/test/org/jetbrains/kotlin/incremental/AbstractInvalidationTest.kt b/js/js.tests/test/org/jetbrains/kotlin/incremental/AbstractInvalidationTest.kt
index 9d54656e59c..df2f58deeb5 100644
--- a/js/js.tests/test/org/jetbrains/kotlin/incremental/AbstractInvalidationTest.kt
+++ b/js/js.tests/test/org/jetbrains/kotlin/incremental/AbstractInvalidationTest.kt
@@ -92,10 +92,6 @@ abstract class AbstractInvalidationTest : KotlinTestWithEnvironment() {
         return File(File(buildDir, moduleName), "$moduleName.klib")
     }
 
-    private fun resolveModuleCache(moduleName: String, buildDir: File): File {
-        return File(File(buildDir, moduleName), "cache")
-    }
-
     private fun createConfiguration(moduleName: String, language: List<String>): CompilerConfiguration {
         val copy = environment.configuration.copy()
         copy.put(CommonConfigurationKeys.MODULE_NAME, moduleName)
@@ -127,7 +123,6 @@ abstract class AbstractInvalidationTest : KotlinTestWithEnvironment() {
         private inner class TestStepInfo(
             val moduleName: String,
             val modulePath: String,
-            val icCacheDir: String,
             val expectedFileStats: Map<String, Set<String>>
         )
 
@@ -157,7 +152,6 @@ abstract class AbstractInvalidationTest : KotlinTestWithEnvironment() {
             return TestStepInfo(
                 module.safeModuleName,
                 outputKlibFile.canonicalPath,
-                resolveModuleCache(module, buildDir).canonicalPath,
                 expectedFileStats
             )
         }
@@ -229,7 +223,6 @@ abstract class AbstractInvalidationTest : KotlinTestWithEnvironment() {
         }
 
         fun execute() {
-            val stdlibCacheDir = resolveModuleCache(STDLIB_ALIAS, buildDir).canonicalPath
             for (projStep in projectInfo.steps) {
                 val testInfo = projStep.order.map { setupTestStep(projStep, it) }
 
@@ -237,7 +230,7 @@ abstract class AbstractInvalidationTest : KotlinTestWithEnvironment() {
                 val cacheUpdater = CacheUpdater(
                     mainModule = testInfo.last().modulePath,
                     allModules = testInfo.mapTo(mutableListOf(STDLIB_KLIB)) { it.modulePath },
-                    icCachePaths = testInfo.mapTo(mutableListOf(stdlibCacheDir)) { it.icCacheDir },
+                    icCacheRootDir = buildDir.resolve("incremental-cache").absolutePath,
                     compilerConfiguration = configuration,
                     irFactory = { IrFactoryImplForJsIC(WholeWorldStageController()) },
                     mainArguments = null,
diff --git a/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/AbstractJsKLibABITestCase.kt b/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/AbstractJsKLibABITestCase.kt
index 3452958d712..4ba6b9f267b 100644
--- a/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/AbstractJsKLibABITestCase.kt
+++ b/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/AbstractJsKLibABITestCase.kt
@@ -189,13 +189,11 @@ abstract class AbstractJsKLibABITestCase : KtUsefulTestCase() {
         mainModuleKlibFile: File,
         allDependencies: KlibABITestUtils.Dependencies
     ): CompilationOutputs {
-        fun cacheDir(library: File): File = buildDir.resolve("libs-cache").resolve(library.name).apply { mkdirs() }
-
         // TODO: what about friend dependencies?
         val cacheUpdater = CacheUpdater(
             mainModule = mainModuleKlibFile.absolutePath,
             allModules = allDependencies.regularDependencies.map { it.path },
-            icCachePaths = allDependencies.regularDependencies.map { cacheDir(it).path },
+            icCacheRootDir = buildDir.resolve("libs-cache").absolutePath,
             compilerConfiguration = configuration,
             irFactory = { IrFactoryImplForJsIC(WholeWorldStageController()) },
             mainArguments = null,