diff --git a/packages/compiler-cli/ngcc/index.ts b/packages/compiler-cli/ngcc/index.ts
index 13c0268d3e..efd32bc07f 100644
--- a/packages/compiler-cli/ngcc/index.ts
+++ b/packages/compiler-cli/ngcc/index.ts
@@ -12,7 +12,7 @@ import {AsyncNgccOptions, NgccOptions, SyncNgccOptions} from './src/ngcc_options
 
 export {ConsoleLogger} from './src/logging/console_logger';
 export {Logger, LogLevel} from './src/logging/logger';
-export {AsyncNgccOptions, NgccOptions, SyncNgccOptions} from './src/ngcc_options';
+export {AsyncNgccOptions, clearTsConfigCache, NgccOptions, SyncNgccOptions} from './src/ngcc_options';
 export {PathMappings} from './src/path_mappings';
 
 export function process(options: AsyncNgccOptions): Promise<void>;
diff --git a/packages/compiler-cli/ngcc/src/ngcc_options.ts b/packages/compiler-cli/ngcc/src/ngcc_options.ts
index 1ada2058d2..9bdcb47947 100644
--- a/packages/compiler-cli/ngcc/src/ngcc_options.ts
+++ b/packages/compiler-cli/ngcc/src/ngcc_options.ts
@@ -156,7 +156,7 @@ export function getSharedSetup(options: NgccOptions): SharedSetup&RequiredNgccOp
   const absBasePath = absoluteFrom(options.basePath);
   const projectPath = fileSystem.dirname(absBasePath);
   const tsConfig =
-      options.tsConfigPath !== null ? readConfiguration(options.tsConfigPath || projectPath) : null;
+      options.tsConfigPath !== null ? getTsConfig(options.tsConfigPath || projectPath) : null;
 
   let {
     basePath,
@@ -200,3 +200,28 @@ export function getSharedSetup(options: NgccOptions): SharedSetup&RequiredNgccOp
         new InPlaceFileWriter(fileSystem, logger, errorOnFailedEntryPoint),
   };
 }
+
+let tsConfigCache: ParsedConfiguration|null = null;
+let tsConfigPathCache: string|null = null;
+
+/**
+ * Get the parsed configuration object for the given `tsConfigPath`.
+ *
+ * This function will cache the previous parsed configuration object to avoid unnecessary processing
+ * of the tsconfig.json in the case that it is requested repeatedly.
+ *
+ * This makes the assumption, which is true as of writing, that the contents of tsconfig.json and
+ * its dependencies will not change during the life of the process running ngcc.
+ */
+function getTsConfig(tsConfigPath: string): ParsedConfiguration|null {
+  if (tsConfigPath !== tsConfigPathCache) {
+    tsConfigPathCache = tsConfigPath;
+    tsConfigCache = readConfiguration(tsConfigPath);
+  }
+  return tsConfigCache;
+}
+
+export function clearTsConfigCache() {
+  tsConfigPathCache = null;
+  tsConfigCache = null;
+}
diff --git a/packages/compiler-cli/ngcc/test/integration/ngcc_spec.ts b/packages/compiler-cli/ngcc/test/integration/ngcc_spec.ts
index 7503eeb6e6..8a022cacd3 100644
--- a/packages/compiler-cli/ngcc/test/integration/ngcc_spec.ts
+++ b/packages/compiler-cli/ngcc/test/integration/ngcc_spec.ts
@@ -14,6 +14,7 @@ import {Folder, MockFileSystem, runInEachFileSystem, TestFile} from '../../../sr
 import {loadStandardTestFiles, loadTestFiles} from '../../../test/helpers';
 import {getLockFilePath} from '../../src/locking/lock_file';
 import {mainNgcc} from '../../src/main';
+import {clearTsConfigCache} from '../../src/ngcc_options';
 import {hasBeenProcessed, markAsProcessed} from '../../src/packages/build_marker';
 import {EntryPointJsonProperty, EntryPointPackageJson, SUPPORTED_FORMAT_PROPERTIES} from '../../src/packages/entry_point';
 import {EntryPointManifestFile} from '../../src/packages/entry_point_manifest';
@@ -41,6 +42,10 @@ runInEachFileSystem(() => {
       spyOn(os, 'cpus').and.returnValue([{model: 'Mock CPU'} as any]);
     });
 
+    afterEach(() => {
+      clearTsConfigCache();
+    });
+
     it('should run ngcc without errors for esm2015', () => {
       expect(() => mainNgcc({basePath: '/node_modules', propertiesToConsider: ['esm2015']}))
           .not.toThrow();
diff --git a/packages/compiler-cli/ngcc/test/ngcc_options_spec.ts b/packages/compiler-cli/ngcc/test/ngcc_options_spec.ts
new file mode 100644
index 0000000000..b3f562a2c0
--- /dev/null
+++ b/packages/compiler-cli/ngcc/test/ngcc_options_spec.ts
@@ -0,0 +1,78 @@
+/**
+ * @license
+ * Copyright Google Inc. All Rights Reserved.
+ *
+ * Use of this source code is governed by an MIT-style license that can be
+ * found in the LICENSE file at https://angular.io/license
+ */
+
+import {absoluteFrom, AbsoluteFsPath, FileSystem, getFileSystem} from '@angular/compiler-cli/src/ngtsc/file_system';
+import {runInEachFileSystem} from '@angular/compiler-cli/src/ngtsc/file_system/testing';
+
+import {clearTsConfigCache, getSharedSetup, NgccOptions} from '../src/ngcc_options';
+
+import {MockLogger} from './helpers/mock_logger';
+
+
+runInEachFileSystem(() => {
+  let fs: FileSystem;
+  let _abs: typeof absoluteFrom;
+  let projectPath: AbsoluteFsPath;
+
+  beforeEach(() => {
+    fs = getFileSystem();
+    _abs = absoluteFrom;
+    projectPath = _abs('/project');
+  });
+
+  describe('getSharedSetup()', () => {
+    let pathToProjectTsConfig: AbsoluteFsPath;
+    let pathToCustomTsConfig: AbsoluteFsPath;
+
+    beforeEach(() => {
+      clearTsConfigCache();
+      pathToProjectTsConfig = fs.resolve(projectPath, 'tsconfig.json');
+      fs.ensureDir(fs.dirname(pathToProjectTsConfig));
+      fs.writeFile(pathToProjectTsConfig, '{"files": ["src/index.ts"]}');
+      pathToCustomTsConfig = _abs('/path/to/tsconfig.json');
+      fs.ensureDir(fs.dirname(pathToCustomTsConfig));
+      fs.writeFile(pathToCustomTsConfig, '{"files": ["custom/index.ts"]}');
+    });
+
+    it('should load the tsconfig.json at the project root if tsConfigPath is `undefined`', () => {
+      const setup = getSharedSetup({...createOptions()});
+      expect(setup.tsConfigPath).toBeUndefined();
+      expect(setup.tsConfig?.rootNames).toEqual([fs.resolve(projectPath, 'src/index.ts')]);
+    });
+
+    it('should load a specific tsconfig.json if tsConfigPath is a string', () => {
+      const setup = getSharedSetup({...createOptions(), tsConfigPath: pathToCustomTsConfig});
+      expect(setup.tsConfigPath).toEqual(pathToCustomTsConfig);
+      expect(setup.tsConfig?.rootNames).toEqual([_abs('/path/to/custom/index.ts')]);
+    });
+
+    it('should not load a tsconfig.json if tsConfigPath is `null`', () => {
+      const setup = getSharedSetup({...createOptions(), tsConfigPath: null});
+      expect(setup.tsConfigPath).toBe(null);
+      expect(setup.tsConfig).toBe(null);
+    });
+  });
+
+  /**
+   * This function creates an object that contains the minimal required properties for NgccOptions.
+   */
+  function createOptions(): NgccOptions {
+    return {
+      async: false,
+      basePath: fs.resolve(projectPath, 'node_modules'),
+      propertiesToConsider: ['es2015'],
+      compileAllFormats: false,
+      createNewEntryPointFormats: false,
+      logger: new MockLogger(),
+      fileSystem: getFileSystem(),
+      errorOnFailedEntryPoint: true,
+      enableI18nLegacyMessageIdFormat: true,
+      invalidateEntryPointManifest: false,
+    };
+  }
+});