diff --git a/docs/generated/api-node/generators/library.md b/docs/generated/api-node/generators/library.md
index 7125261ae51e2..963693c1e1341 100644
--- a/docs/generated/api-node/generators/library.md
+++ b/docs/generated/api-node/generators/library.md
@@ -63,6 +63,16 @@ Type: `boolean`
 
 Generate a buildable library.
 
+### compiler
+
+Default: `tsc`
+
+Type: `string`
+
+Possible values: `tsc`, `swc`
+
+The compiler used by the build and test targets
+
 ### directory
 
 Alias(es): dir
diff --git a/packages/node/src/generators/library/library.spec.ts b/packages/node/src/generators/library/library.spec.ts
index 5e4491d357e57..68d921400e830 100644
--- a/packages/node/src/generators/library/library.spec.ts
+++ b/packages/node/src/generators/library/library.spec.ts
@@ -1,9 +1,21 @@
-import { getProjects, NxJsonConfiguration, readJson, Tree } from '@nrwl/devkit';
+import {
+  getProjects,
+  NxJsonConfiguration,
+  readJson,
+  readProjectConfiguration,
+  Tree,
+} from '@nrwl/devkit';
 import { createTreeWithEmptyWorkspace } from '@nrwl/devkit/testing';
 
 import { Schema } from './schema.d';
 import { libraryGenerator } from './library';
 
+const baseLibraryConfig = {
+  name: 'myLib',
+  standaloneConfig: false,
+  compiler: 'tsc' as const,
+};
+
 describe('lib', () => {
   let tree: Tree;
 
@@ -13,7 +25,7 @@ describe('lib', () => {
 
   describe('not nested', () => {
     it('should update workspace.json', async () => {
-      await libraryGenerator(tree, { name: 'myLib', standaloneConfig: false });
+      await libraryGenerator(tree, baseLibraryConfig);
       const workspaceJson = readJson(tree, '/workspace.json');
       expect(workspaceJson.projects['my-lib'].root).toEqual('libs/my-lib');
       expect(workspaceJson.projects['my-lib'].architect.build).toBeUndefined();
@@ -36,10 +48,9 @@ describe('lib', () => {
 
     it('adds srcRootForCompilationRoot in workspace.json', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         rootDir: './src',
         buildable: true,
-        standaloneConfig: false,
       });
       const workspaceJson = readJson(tree, '/workspace.json');
       expect(
@@ -50,9 +61,8 @@ describe('lib', () => {
 
     it('should update tags', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         tags: 'one,two',
-        standaloneConfig: false,
       });
       const projects = Object.fromEntries(getProjects(tree));
       expect(projects).toMatchObject({
@@ -63,7 +73,7 @@ describe('lib', () => {
     });
 
     it('should update root tsconfig.base.json', async () => {
-      await libraryGenerator(tree, { name: 'myLib', standaloneConfig: false });
+      await libraryGenerator(tree, baseLibraryConfig);
       const tsconfigJson = readJson(tree, '/tsconfig.base.json');
       expect(tsconfigJson.compilerOptions.paths['@proj/my-lib']).toEqual([
         'libs/my-lib/src/index.ts',
@@ -71,7 +81,7 @@ describe('lib', () => {
     });
 
     it('should create a local tsconfig.json', async () => {
-      await libraryGenerator(tree, { name: 'myLib', standaloneConfig: false });
+      await libraryGenerator(tree, baseLibraryConfig);
       const tsconfigJson = readJson(tree, 'libs/my-lib/tsconfig.json');
       expect(tsconfigJson).toMatchInlineSnapshot(`
         Object {
@@ -91,26 +101,26 @@ describe('lib', () => {
     });
 
     it('should extend the local tsconfig.json with tsconfig.spec.json', async () => {
-      await libraryGenerator(tree, { name: 'myLib', standaloneConfig: false });
+      await libraryGenerator(tree, baseLibraryConfig);
       const tsconfigJson = readJson(tree, 'libs/my-lib/tsconfig.spec.json');
       expect(tsconfigJson.extends).toEqual('./tsconfig.json');
     });
 
     it('should extend the local tsconfig.json with tsconfig.lib.json', async () => {
-      await libraryGenerator(tree, { name: 'myLib', standaloneConfig: false });
+      await libraryGenerator(tree, baseLibraryConfig);
       const tsconfigJson = readJson(tree, 'libs/my-lib/tsconfig.lib.json');
       expect(tsconfigJson.compilerOptions.types).toContain('node');
       expect(tsconfigJson.extends).toEqual('./tsconfig.json');
     });
 
     it('should exclude test files from tsconfig.lib.json', async () => {
-      await libraryGenerator(tree, { name: 'myLib', standaloneConfig: false });
+      await libraryGenerator(tree, baseLibraryConfig);
       const tsconfigJson = readJson(tree, 'libs/my-lib/tsconfig.lib.json');
       expect(tsconfigJson.exclude).toEqual(['**/*.spec.ts', '**/*.test.ts']);
     });
 
     it('should generate files', async () => {
-      await libraryGenerator(tree, { name: 'myLib', standaloneConfig: false });
+      await libraryGenerator(tree, baseLibraryConfig);
       expect(tree.exists(`libs/my-lib/jest.config.js`)).toBeTruthy();
       expect(tree.exists('libs/my-lib/src/index.ts')).toBeTruthy();
 
@@ -156,10 +166,9 @@ describe('lib', () => {
   describe('nested', () => {
     it('should update tags', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         directory: 'myDir',
         tags: 'one',
-        standaloneConfig: false,
       });
       let projects = Object.fromEntries(getProjects(tree));
       expect(projects).toMatchObject({
@@ -169,10 +178,10 @@ describe('lib', () => {
       });
 
       await libraryGenerator(tree, {
+        ...baseLibraryConfig,
         name: 'myLib2',
         directory: 'myDir',
         tags: 'one,two',
-        standaloneConfig: false,
       });
       projects = Object.fromEntries(getProjects(tree));
       expect(projects).toMatchObject({
@@ -187,9 +196,8 @@ describe('lib', () => {
 
     it('should generate files', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         directory: 'myDir',
-        standaloneConfig: false,
       });
       expect(tree.exists(`libs/my-dir/my-lib/jest.config.js`)).toBeTruthy();
       expect(tree.exists('libs/my-dir/my-lib/src/index.ts')).toBeTruthy();
@@ -197,9 +205,8 @@ describe('lib', () => {
 
     it('should update workspace.json', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         directory: 'myDir',
-        standaloneConfig: false,
       });
       const workspaceJson = readJson(tree, '/workspace.json');
 
@@ -217,9 +224,8 @@ describe('lib', () => {
 
     it('should update tsconfig.json', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         directory: 'myDir',
-        standaloneConfig: false,
       });
       const tsconfigJson = readJson(tree, '/tsconfig.base.json');
       expect(tsconfigJson.compilerOptions.paths['@proj/my-dir/my-lib']).toEqual(
@@ -235,10 +241,9 @@ describe('lib', () => {
 
       try {
         await libraryGenerator(tree, {
-          name: 'myLib',
+          ...baseLibraryConfig,
           directory: 'myDir',
           publishable: true,
-          standaloneConfig: false,
         });
       } catch (e) {
         expect(e.message).toContain(
@@ -249,9 +254,8 @@ describe('lib', () => {
 
     it('should create a local tsconfig.json', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         directory: 'myDir',
-        standaloneConfig: false,
       });
 
       const tsconfigJson = readJson(tree, 'libs/my-dir/my-lib/tsconfig.json');
@@ -268,10 +272,9 @@ describe('lib', () => {
 
     it('should generate filenames that do not contain directory with --simpleModuleName', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         directory: 'myDir',
         simpleModuleName: true,
-        standaloneConfig: false,
       });
       expect(tree.exists(`libs/my-dir/my-lib/jest.config.js`)).toBeTruthy();
       expect(tree.exists('libs/my-dir/my-lib/src/index.ts')).toBeTruthy();
@@ -284,12 +287,37 @@ describe('lib', () => {
     });
   });
 
+  describe('--compiler', () => {
+    it('should specify tsc as compiler', async () => {
+      await libraryGenerator(tree, {
+        ...baseLibraryConfig,
+        compiler: 'tsc',
+        buildable: true,
+      });
+
+      const { build } = readProjectConfiguration(tree, 'my-lib').targets;
+
+      expect(build.executor).toEqual('@nrwl/js:tsc');
+    });
+
+    it('should specify swc as compiler', async () => {
+      await libraryGenerator(tree, {
+        ...baseLibraryConfig,
+        compiler: 'swc',
+        buildable: true,
+      });
+
+      const { build } = readProjectConfiguration(tree, 'my-lib').targets;
+
+      expect(build.executor).toEqual('@nrwl/js:swc');
+    });
+  });
+
   describe('--unit-test-runner none', () => {
     it('should not generate test configuration', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         unitTestRunner: 'none',
-        standaloneConfig: false,
       });
       expect(tree.exists('libs/my-lib/tsconfig.spec.json')).toBeFalsy();
       expect(tree.exists('libs/my-lib/jest.config.js')).toBeFalsy();
@@ -323,9 +351,8 @@ describe('lib', () => {
   describe('buildable package', () => {
     it('should have a builder defined', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         buildable: true,
-        standaloneConfig: false,
       });
       const workspaceJson = readJson(tree, '/workspace.json');
 
@@ -334,7 +361,7 @@ describe('lib', () => {
       expect(workspaceJson.projects['my-lib'].architect.build)
         .toMatchInlineSnapshot(`
         Object {
-          "builder": "@nrwl/node:package",
+          "builder": "@nrwl/js:tsc",
           "options": Object {
             "assets": Array [
               "libs/my-lib/*.md",
@@ -355,10 +382,9 @@ describe('lib', () => {
   describe('publishable package', () => {
     it('should have a builder defined', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         publishable: true,
         importPath: '@proj/mylib',
-        standaloneConfig: false,
       });
       const workspaceJson = readJson(tree, '/workspace.json');
 
@@ -369,10 +395,10 @@ describe('lib', () => {
 
     it('should update package.json', async () => {
       await libraryGenerator(tree, {
+        ...baseLibraryConfig,
         name: 'mylib',
         publishable: true,
         importPath: '@proj/mylib',
-        standaloneConfig: false,
       });
 
       let packageJsonContent = readJson(tree, 'libs/mylib/package.json');
@@ -384,11 +410,10 @@ describe('lib', () => {
   describe('--importPath', () => {
     it('should update the package.json & tsconfig with the given import path', async () => {
       await libraryGenerator(tree, {
-        name: 'myLib',
+        ...baseLibraryConfig,
         publishable: true,
         directory: 'myDir',
         importPath: '@myorg/lib',
-        standaloneConfig: false,
       });
       const packageJson = readJson(tree, 'libs/my-dir/my-lib/package.json');
       const tsconfigJson = readJson(tree, '/tsconfig.base.json');
@@ -401,18 +426,18 @@ describe('lib', () => {
 
     it('should fail if the same importPath has already been used', async () => {
       await libraryGenerator(tree, {
+        ...baseLibraryConfig,
         name: 'myLib1',
         publishable: true,
         importPath: '@myorg/lib',
-        standaloneConfig: false,
       });
 
       try {
         await libraryGenerator(tree, {
+          ...baseLibraryConfig,
           name: 'myLib2',
           publishable: true,
           importPath: '@myorg/lib',
-          standaloneConfig: false,
         });
       } catch (e) {
         expect(e.message).toContain(
diff --git a/packages/node/src/generators/library/library.ts b/packages/node/src/generators/library/library.ts
index 629d57febd4ea..43f5d37984592 100644
--- a/packages/node/src/generators/library/library.ts
+++ b/packages/node/src/generators/library/library.ts
@@ -24,6 +24,7 @@ export interface NormalizedSchema extends Schema {
   projectRoot: string;
   projectDirectory: string;
   parsedTags: string[];
+  compiler: 'swc' | 'tsc';
 }
 
 export async function libraryGenerator(tree: Tree, schema: Schema) {
@@ -137,7 +138,7 @@ function updateProject(tree: Tree, options: NormalizedSchema) {
 
   project.targets = project.targets || {};
   project.targets.build = {
-    executor: '@nrwl/node:package',
+    executor: `@nrwl/js:${options.compiler}`,
     outputs: ['{options.outputPath}'],
     options: {
       outputPath: `dist/${libsDir}/${options.projectDirectory}`,
diff --git a/packages/node/src/generators/library/schema.d.ts b/packages/node/src/generators/library/schema.d.ts
index 965d52d86579c..682a1c3a1ebc2 100644
--- a/packages/node/src/generators/library/schema.d.ts
+++ b/packages/node/src/generators/library/schema.d.ts
@@ -20,4 +20,5 @@ export interface Schema {
   strict?: boolean;
   standaloneConfig?: boolean;
   setParserOptionsProject?: boolean;
+  compiler: 'tsc' | 'swc';
 }
diff --git a/packages/node/src/generators/library/schema.json b/packages/node/src/generators/library/schema.json
index f9333b9e7f0bb..f17001317f2e1 100644
--- a/packages/node/src/generators/library/schema.json
+++ b/packages/node/src/generators/library/schema.json
@@ -66,6 +66,12 @@
       "default": false,
       "description": "Generate a buildable library."
     },
+    "compiler": {
+      "type": "string",
+      "enum": ["tsc", "swc"],
+      "default": "tsc",
+      "description": "The compiler used by the build and test targets"
+    },
     "importPath": {
       "type": "string",
       "description": "The library name used to import it, like @myorg/my-awesome-lib. Must be a valid npm name."