diff --git a/tools/fiptool/Makefile b/tools/fiptool/Makefile
index 7c2a083..e6aeba9 100644
--- a/tools/fiptool/Makefile
+++ b/tools/fiptool/Makefile
@@ -1,5 +1,5 @@
 #
-# Copyright (c) 2014-2021, ARM Limited and Contributors. All rights reserved.
+# Copyright (c) 2014-2022, ARM Limited and Contributors. All rights reserved.
 #
 # SPDX-License-Identifier: BSD-3-Clause
 #
@@ -22,7 +22,14 @@
 else
   HOSTCCFLAGS += -O2
 endif
-LDLIBS := -L${OPENSSL_DIR}/lib -lcrypto
+
+# Include library directories where OpenSSL library files are located.
+# For a normal installation (i.e.: when ${OPENSSL_DIR} = /usr or
+# /usr/local), binaries are located under the ${OPENSSL_DIR}/lib/
+# directory. However, for a local build of OpenSSL, the built binaries are
+# located under the main project directory (i.e.: ${OPENSSL_DIR}, not
+# ${OPENSSL_DIR}/lib/).
+LDLIBS := -L${OPENSSL_DIR}/lib -L${OPENSSL_DIR} -lcrypto
 
 ifeq (${V},0)
   Q := @