diff --git a/doc/changes/10644.md b/doc/changes/10644.md
new file mode 100644
index 00000000000..6b131abb95d
--- /dev/null
+++ b/doc/changes/10644.md
@@ -0,0 +1,4 @@
+- Add support for the -H flag (introduced in OCaml compiler 5.2) in dune
+  (requires lang versions 3.17). This adaptation gives
+  the correct semantics for `(implicit_transitive_deps false)`.
+  (#10644, fixes #9333, ocsigen/tyxml#274, #2733, #4963, @MA0100)
\ No newline at end of file
diff --git a/src/dune_rules/compilation_context.ml b/src/dune_rules/compilation_context.ml
index 3fdfad25023..8bb1be96cd0 100644
--- a/src/dune_rules/compilation_context.ml
+++ b/src/dune_rules/compilation_context.ml
@@ -3,28 +3,34 @@ open Import
 module Includes = struct
   type t = Command.Args.without_targets Command.Args.t Lib_mode.Cm_kind.Map.t
 
-  let make ~project ~opaque ~requires : _ Lib_mode.Cm_kind.Map.t =
+  let make ~project ~opaque ~direct_requires ~hidden_requires : _ Lib_mode.Cm_kind.Map.t =
     (* TODO : some of the requires can filtered out using [ocamldep] info *)
     let open Resolve.Memo.O in
-    let iflags libs mode = Lib_flags.L.include_flags ~project libs mode in
+    let iflags direct_libs hidden_libs mode =
+      Lib_flags.L.include_flags ~project ~direct_libs ~hidden_libs mode
+    in
     let make_includes_args ~mode groups =
       Command.Args.memo
         (Resolve.Memo.args
-           (let+ libs = requires in
+           (let+ direct_libs = direct_requires
+            and+ hidden_libs = hidden_requires in
             Command.Args.S
-              [ iflags libs mode; Hidden_deps (Lib_file_deps.deps libs ~groups) ]))
+              [ iflags direct_libs hidden_libs mode
+              ; Hidden_deps (Lib_file_deps.deps (direct_libs @ hidden_libs) ~groups)
+              ]))
     in
     let cmi_includes = make_includes_args ~mode:(Ocaml Byte) [ Ocaml Cmi ] in
     let cmx_includes =
       Command.Args.memo
         (Resolve.Memo.args
-           (let+ libs = requires in
+           (let+ direct_libs = direct_requires
+            and+ hidden_libs = hidden_requires in
             Command.Args.S
-              [ iflags libs (Ocaml Native)
+              [ iflags direct_libs hidden_libs (Ocaml Native)
               ; Hidden_deps
                   (if opaque
                    then
-                     List.map libs ~f:(fun lib ->
+                     List.map (direct_libs @ hidden_libs) ~f:(fun lib ->
                        ( lib
                        , if Lib.is_local lib
                          then [ Lib_file_deps.Group.Ocaml Cmi ]
@@ -32,7 +38,7 @@ module Includes = struct
                      |> Lib_file_deps.deps_with_exts
                    else
                      Lib_file_deps.deps
-                       libs
+                       (direct_libs @ hidden_libs)
                        ~groups:[ Lib_file_deps.Group.Ocaml Cmi; Ocaml Cmx ])
               ]))
     in
@@ -74,6 +80,7 @@ type t =
   ; modules : modules
   ; flags : Ocaml_flags.t
   ; requires_compile : Lib.t list Resolve.Memo.t
+  ; requires_hidden : Lib.t list Resolve.Memo.t
   ; requires_link : Lib.t list Resolve.t Memo.Lazy.t
   ; includes : Includes.t
   ; preprocessing : Pp_spec.t
@@ -99,6 +106,7 @@ let obj_dir t = t.obj_dir
 let modules t = t.modules.modules
 let flags t = t.flags
 let requires_compile t = t.requires_compile
+let requires_hidden t = t.requires_hidden
 let requires_link t = Memo.Lazy.force t.requires_link
 let includes t = t.includes
 let preprocessing t = t.preprocessing
@@ -139,10 +147,24 @@ let create
   =
   let open Memo.O in
   let project = Scope.project scope in
-  let requires_compile =
+  let context = Super_context.context super_context in
+  let* ocaml = Context.ocaml context in
+  let direct_requires, hidden_requires =
     if Dune_project.implicit_transitive_deps project
-    then Memo.Lazy.force requires_link
-    else requires_compile
+    then Memo.Lazy.force requires_link, Resolve.Memo.return []
+    else if Version.supports_hidden_includes ocaml.version
+            && Dune_project.dune_version project >= (3, 17)
+    then (
+      let requires_hidden =
+        let open Resolve.Memo.O in
+        let+ requires_compile = requires_compile
+        and+ requires_link = Memo.Lazy.force requires_link in
+        let requires_table = Table.create (module Lib) 5 in
+        List.iter ~f:(fun lib -> Table.set requires_table lib ()) requires_compile;
+        List.filter requires_link ~f:(fun l -> not (Table.mem requires_table l))
+      in
+      requires_compile, requires_hidden)
+    else requires_compile, Resolve.Memo.return []
   in
   let sandbox = Sandbox_config.no_special_requirements in
   let modes =
@@ -153,8 +175,6 @@ let create
     in
     Option.value ~default modes |> Lib_mode.Map.map ~f:Option.is_some
   in
-  let context = Super_context.context super_context in
-  let* ocaml = Context.ocaml context in
   let opaque =
     let profile = Context.profile context in
     eval_opaque ocaml profile opaque
@@ -180,9 +200,10 @@ let create
   ; obj_dir
   ; modules = { modules; dep_graphs }
   ; flags
-  ; requires_compile
+  ; requires_compile = direct_requires
+  ; requires_hidden = hidden_requires
   ; requires_link
-  ; includes = Includes.make ~project ~opaque ~requires:requires_compile
+  ; includes = Includes.make ~project ~opaque ~direct_requires ~hidden_requires
   ; preprocessing
   ; opaque
   ; stdlib
@@ -263,8 +284,16 @@ let for_module_generated_at_link_time cctx ~requires ~module_ =
        their implementation must also be compiled with -opaque *)
     Ocaml.Version.supports_opaque_for_mli cctx.ocaml.version
   in
+  let direct_requires = requires in
+  let hidden_requires = Resolve.Memo.return [] in
   let modules = singleton_modules module_ in
-  let includes = Includes.make ~project:(Scope.project cctx.scope) ~opaque ~requires in
+  let includes =
+    Includes.make
+      ~project:(Scope.project cctx.scope)
+      ~opaque
+      ~direct_requires
+      ~hidden_requires
+  in
   { cctx with
     opaque
   ; flags = Ocaml_flags.empty
diff --git a/src/dune_rules/compilation_context.mli b/src/dune_rules/compilation_context.mli
index 643466e623a..9924ea719a6 100644
--- a/src/dune_rules/compilation_context.mli
+++ b/src/dune_rules/compilation_context.mli
@@ -55,6 +55,7 @@ val obj_dir : t -> Path.Build.t Obj_dir.t
 val modules : t -> Modules.With_vlib.t
 val flags : t -> Ocaml_flags.t
 val requires_link : t -> Lib.t list Resolve.Memo.t
+val requires_hidden : t -> Lib.t list Resolve.Memo.t
 val requires_compile : t -> Lib.t list Resolve.Memo.t
 val includes : t -> Command.Args.without_targets Command.Args.t Lib_mode.Cm_kind.Map.t
 val preprocessing : t -> Pp_spec.t
diff --git a/src/dune_rules/lib_flags.ml b/src/dune_rules/lib_flags.ml
index 3eab4dd2fe8..d8e7dabc509 100644
--- a/src/dune_rules/lib_flags.ml
+++ b/src/dune_rules/lib_flags.ml
@@ -85,13 +85,16 @@ let link_deps sctx t mode =
 module L = struct
   type nonrec t = Lib.t list
 
-  let to_iflags dirs =
+  let to_flags flag dirs =
     Command.Args.S
       (Path.Set.fold dirs ~init:[] ~f:(fun dir acc ->
-         Command.Args.Path dir :: A "-I" :: acc)
+         Command.Args.Path dir :: A flag :: acc)
        |> List.rev)
   ;;
 
+  let to_iflags dir = to_flags "-I" dir
+  let to_hflags dir = to_flags "-H" dir
+
   let remove_stdlib dirs libs =
     match libs with
     | [] -> dirs
@@ -155,8 +158,13 @@ module L = struct
       remove_stdlib dirs ts
   ;;
 
-  let include_flags ?project ts mode =
-    to_iflags (include_paths ?project ts { lib_mode = mode; melange_emit = false })
+  let include_flags ?project ~direct_libs ~hidden_libs mode =
+    let include_paths ts =
+      include_paths ?project ts { lib_mode = mode; melange_emit = false }
+    in
+    let hidden_includes = to_hflags (include_paths hidden_libs) in
+    let direct_includes = to_iflags (include_paths direct_libs) in
+    Command.Args.S [ direct_includes; hidden_includes ]
   ;;
 
   let melange_emission_include_flags ?project ts =
diff --git a/src/dune_rules/lib_flags.mli b/src/dune_rules/lib_flags.mli
index 1faa6dee7b7..8a65f55a084 100644
--- a/src/dune_rules/lib_flags.mli
+++ b/src/dune_rules/lib_flags.mli
@@ -24,7 +24,14 @@ module L : sig
 
   val to_iflags : Path.Set.t -> _ Command.Args.t
   val include_paths : ?project:Dune_project.t -> t -> Lib_mode.t -> Path.Set.t
-  val include_flags : ?project:Dune_project.t -> t -> Lib_mode.t -> _ Command.Args.t
+
+  val include_flags
+    :  ?project:Dune_project.t
+    -> direct_libs:t
+    -> hidden_libs:t
+    -> Lib_mode.t
+    -> _ Command.Args.t
+
   val melange_emission_include_flags : ?project:Dune_project.t -> t -> _ Command.Args.t
   val c_include_flags : t -> Super_context.t -> _ Command.Args.t
   val toplevel_ld_paths : t -> Path.Set.t
diff --git a/src/dune_rules/merlin/ocaml_index.ml b/src/dune_rules/merlin/ocaml_index.ml
index 561f6a88099..7941191f70e 100644
--- a/src/dune_rules/merlin/ocaml_index.ml
+++ b/src/dune_rules/merlin/ocaml_index.ml
@@ -24,19 +24,22 @@ let cctx_rules cctx =
     let obj_dir = Compilation_context.obj_dir cctx in
     let fn = index_path_in_obj_dir obj_dir in
     let additional_libs =
-      let open Resolve.Memo.O in
-      let+ non_compile_libs =
-        (* The indexer relies on the load_path of cmt files. When
-           [implicit_transitive_deps] is set to [false] some necessary paths will
-           be missing.These are passed to the indexer with the `-I` flag.
-
-           The implicit transitive libs correspond to the set:
-           (requires_link \ req_compile) *)
-        let* req_link = Compilation_context.requires_link cctx in
-        let+ req_compile = Compilation_context.requires_compile cctx in
-        List.filter req_link ~f:(fun l -> not (List.exists req_compile ~f:(Lib.equal l)))
-      in
-      Lib_flags.L.include_flags non_compile_libs (Lib_mode.Ocaml Byte)
+      let scope = Compilation_context.scope cctx in
+      (* Dune language >= 3.17 correctly passes the `-H` flag to the compiler. *)
+      if Dune_project.dune_version (Scope.project scope) < (3, 17)
+      then
+        let open Resolve.Memo.O in
+        let+ non_compile_libs =
+          let* req_link = Compilation_context.requires_link cctx in
+          let+ req_compile = Compilation_context.requires_compile cctx in
+          List.filter req_link ~f:(fun l ->
+            not (List.exists req_compile ~f:(Lib.equal l)))
+        in
+        Lib_flags.L.include_flags
+          ~direct_libs:non_compile_libs
+          ~hidden_libs:[]
+          (Lib_mode.Ocaml Byte)
+      else Resolve.Memo.return Command.Args.empty
     in
     (* Indexing depends (recursively) on [required_compile] libs:
        - These libs's cmt files should be built before indexing starts
diff --git a/src/ocaml/version.ml b/src/ocaml/version.ml
index fba7b9e1a25..3caf3c7c444 100644
--- a/src/ocaml/version.ml
+++ b/src/ocaml/version.ml
@@ -29,3 +29,4 @@ let supports_alerts version = version >= (4, 8, 0)
 let has_sandboxed_otherlibs version = version >= (5, 0, 0)
 let has_META_files version = version >= (5, 0, 0)
 let supports_bin_annot_occurrences version = version >= (5, 2, 0)
+let supports_hidden_includes version = version >= (5, 2, 0)
diff --git a/src/ocaml/version.mli b/src/ocaml/version.mli
index f7da69ad2b1..dc79429144e 100644
--- a/src/ocaml/version.mli
+++ b/src/ocaml/version.mli
@@ -76,3 +76,6 @@ val has_META_files : t -> bool
 
 (** Whether the compiler supports occurrences indexation *)
 val supports_bin_annot_occurrences : t -> bool
+
+(** Whether the compiler supports the -H flag *)
+val supports_hidden_includes : t -> bool
diff --git a/test/blackbox-tests/test-cases/dune b/test/blackbox-tests/test-cases/dune
index 5eb82ae6938..0934807c370 100644
--- a/test/blackbox-tests/test-cases/dune
+++ b/test/blackbox-tests/test-cases/dune
@@ -164,3 +164,13 @@
 (cram
  (applies_to sandboxing-stale-directory-target)
  (deps %{bin:bash}))
+
+(cram
+ (applies_to hidden-deps-supported)
+ (enabled_if
+  (>= %{ocaml_version} 5.2.0)))
+
+(cram
+ (applies_to hidden-deps-unsupported)
+ (enabled_if
+  (< %{ocaml_version} 5.2.0)))
diff --git a/test/blackbox-tests/test-cases/hidden-deps-supported.t/bar.ml b/test/blackbox-tests/test-cases/hidden-deps-supported.t/bar.ml
new file mode 100644
index 00000000000..98146d7098e
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-supported.t/bar.ml
@@ -0,0 +1,2 @@
+let x = 5
+let y = Foo.v
diff --git a/test/blackbox-tests/test-cases/hidden-deps-supported.t/dune b/test/blackbox-tests/test-cases/hidden-deps-supported.t/dune
new file mode 100644
index 00000000000..1807d44beba
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-supported.t/dune
@@ -0,0 +1,18 @@
+(library
+ (name foo)
+ (modules foo))
+
+(library
+ (name bar)
+ (modules bar)
+ (libraries foo))
+
+(executable
+ (name run)
+ (modules run)
+ (libraries bar))
+
+ (executable
+ (name runf)
+ (modules runf)
+ (libraries bar))
diff --git a/test/blackbox-tests/test-cases/hidden-deps-supported.t/foo.ml b/test/blackbox-tests/test-cases/hidden-deps-supported.t/foo.ml
new file mode 100644
index 00000000000..dfa3cba9d50
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-supported.t/foo.ml
@@ -0,0 +1,2 @@
+let v = 9
+let w = 4
diff --git a/test/blackbox-tests/test-cases/hidden-deps-supported.t/run.ml b/test/blackbox-tests/test-cases/hidden-deps-supported.t/run.ml
new file mode 100644
index 00000000000..a956be2d6c3
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-supported.t/run.ml
@@ -0,0 +1 @@
+let _ = Bar.y
diff --git a/test/blackbox-tests/test-cases/hidden-deps-supported.t/run.t b/test/blackbox-tests/test-cases/hidden-deps-supported.t/run.t
new file mode 100644
index 00000000000..37c46fa06c4
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-supported.t/run.t
@@ -0,0 +1,57 @@
+This test is guarded by ocaml version >= 5.2, so it should include foo with -H when
+implicit_transitive_deps is set to false.
+
+  $ getincludes () {
+  >   dune build --verbose ./run.exe 2>&1 | grep run.ml | grep -Eo '\-[IH] [a-z/.]+' | sort
+  > }
+
+  $ cat >dune-project <<EOF
+  > (lang dune 3.17)
+  > (implicit_transitive_deps true)
+  > EOF
+
+  $ getincludes
+  -I .bar.objs/byte
+  -I .bar.objs/byte
+  -I .bar.objs/native
+  -I .foo.objs/byte
+  -I .foo.objs/byte
+  -I .foo.objs/native
+  -I .run.eobjs/byte
+  -I .run.eobjs/byte
+  -I .run.eobjs/native
+
+  $ cat >dune-project <<EOF
+  > (lang dune 3.17)
+  > (implicit_transitive_deps false)
+  > EOF
+
+  $ getincludes
+  -H .foo.objs/byte
+  -H .foo.objs/byte
+  -H .foo.objs/native
+  -I .bar.objs/byte
+  -I .bar.objs/byte
+  -I .bar.objs/native
+  -I .run.eobjs/byte
+  -I .run.eobjs/byte
+  -I .run.eobjs/native
+
+Test transitive deps can not be directly accessed, both for compiler versions supporting -H or not:
+
+  $ cat >dune-project <<EOF
+  > (lang dune 3.17)
+  > (implicit_transitive_deps false)
+  > EOF
+
+  $ dune build ./runf.exe 2>&1 | grep -v ocamlc
+  File "runf.ml", line 1, characters 16-21:
+  1 | let a = Bar.y + Foo.v
+                      ^^^^^
+  Error: Unbound module Foo
+
+Test if #274 is fixed:
+
+  $ dune build --root=./tyxml
+  Entering directory 'tyxml'
+  Leaving directory 'tyxml'
diff --git a/test/blackbox-tests/test-cases/hidden-deps-supported.t/runf.ml b/test/blackbox-tests/test-cases/hidden-deps-supported.t/runf.ml
new file mode 100644
index 00000000000..0d3f1db0e17
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-supported.t/runf.ml
@@ -0,0 +1 @@
+let a = Bar.y + Foo.v
diff --git a/test/blackbox-tests/test-cases/hidden-deps-supported.t/tyxml/dune b/test/blackbox-tests/test-cases/hidden-deps-supported.t/tyxml/dune
new file mode 100644
index 00000000000..14cd546b25b
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-supported.t/tyxml/dune
@@ -0,0 +1,4 @@
+(executable
+  (name run)
+  (libraries tyxml))
+  
\ No newline at end of file
diff --git a/test/blackbox-tests/test-cases/hidden-deps-supported.t/tyxml/dune-project b/test/blackbox-tests/test-cases/hidden-deps-supported.t/tyxml/dune-project
new file mode 100644
index 00000000000..fff9b78b842
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-supported.t/tyxml/dune-project
@@ -0,0 +1,2 @@
+(lang dune 3.17)
+(implicit_transitive_deps false)
diff --git a/test/blackbox-tests/test-cases/hidden-deps-supported.t/tyxml/run.ml b/test/blackbox-tests/test-cases/hidden-deps-supported.t/tyxml/run.ml
new file mode 100644
index 00000000000..66f0f01edf5
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-supported.t/tyxml/run.ml
@@ -0,0 +1,2 @@
+open Tyxml.Html
+let _ = p [ a [ txt "a" ] ]
diff --git a/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/bar.ml b/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/bar.ml
new file mode 100644
index 00000000000..98146d7098e
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/bar.ml
@@ -0,0 +1,2 @@
+let x = 5
+let y = Foo.v
diff --git a/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/dune b/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/dune
new file mode 100644
index 00000000000..c5481663927
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/dune
@@ -0,0 +1,14 @@
+(library
+ (name foo)
+ (modules foo))
+
+(library
+ (name bar)
+ (modules bar)
+ (libraries foo))
+
+(executable
+ (name run)
+ (modules run)
+ (libraries bar))
+ 
\ No newline at end of file
diff --git a/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/foo.ml b/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/foo.ml
new file mode 100644
index 00000000000..dfa3cba9d50
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/foo.ml
@@ -0,0 +1,2 @@
+let v = 9
+let w = 4
diff --git a/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/run.ml b/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/run.ml
new file mode 100644
index 00000000000..436b88a6649
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/run.ml
@@ -0,0 +1,2 @@
+let _ = Bar.y
+let _ = print_endline "yes"
diff --git a/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/run.t b/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/run.t
new file mode 100644
index 00000000000..c51b4249eae
--- /dev/null
+++ b/test/blackbox-tests/test-cases/hidden-deps-unsupported.t/run.t
@@ -0,0 +1,36 @@
+This test is guarded by ocaml version <= 5.1, so it should not include foo
+when implicit_transitive_deps is set to false, i.e. testing backward compatibility of
+the new -H feature added.
+
+  $ getincludes () {
+  >   dune build --verbose ./run.exe 2>&1 | grep run.ml | grep -Eo '\-[IH] [a-z/.]+' | sort
+  > }
+
+  $ cat >dune-project <<EOF
+  > (lang dune 3.17)
+  > (implicit_transitive_deps true)
+  > EOF
+
+  $ getincludes
+  -I .bar.objs/byte
+  -I .bar.objs/byte
+  -I .bar.objs/native
+  -I .foo.objs/byte
+  -I .foo.objs/byte
+  -I .foo.objs/native
+  -I .run.eobjs/byte
+  -I .run.eobjs/byte
+  -I .run.eobjs/native
+
+  $ cat >dune-project <<EOF
+  > (lang dune 3.17)
+  > (implicit_transitive_deps false)
+  > EOF
+
+  $ getincludes
+  -I .bar.objs/byte
+  -I .bar.objs/byte
+  -I .bar.objs/native
+  -I .run.eobjs/byte
+  -I .run.eobjs/byte
+  -I .run.eobjs/native