diff --git a/deps/v8/build/toolchain.gypi b/deps/v8/build/toolchain.gypi
index 6090898073082d..519779edb4f503 100644
--- a/deps/v8/build/toolchain.gypi
+++ b/deps/v8/build/toolchain.gypi
@@ -39,6 +39,7 @@
     'ubsan_vptr%': 0,
     'v8_target_arch%': '<(target_arch)',
     'v8_host_byteorder%': '<!(python -c "import sys; print sys.byteorder")',
+    'force_dynamic_crt%': 0,
     # Native Client builds currently use the V8 ARM JIT and
     # arm/simulator-arm.cc to defer the significant effort required
     # for NaCl JIT support. The nacl_target_arch variable provides
@@ -1104,7 +1105,7 @@
           'VCCLCompilerTool': {
             'Optimization': '0',
             'conditions': [
-              ['component=="shared_library"', {
+              ['component=="shared_library" or force_dynamic_crt==1', {
                 'RuntimeLibrary': '3',  # /MDd
               }, {
                 'RuntimeLibrary': '1',  # /MTd
@@ -1156,7 +1157,7 @@
             'StringPooling': 'true',
             'BasicRuntimeChecks': '0',
             'conditions': [
-              ['component=="shared_library"', {
+              ['component=="shared_library" or force_dynamic_crt==1', {
                 'RuntimeLibrary': '3',  #/MDd
               }, {
                 'RuntimeLibrary': '1',  #/MTd
@@ -1347,7 +1348,7 @@
                 'FavorSizeOrSpeed': '0',
                 'StringPooling': 'true',
                 'conditions': [
-                  ['component=="shared_library"', {
+                  ['component=="shared_library" or force_dynamic_crt==1', {
                     'RuntimeLibrary': '2',  #/MD
                   }, {
                     'RuntimeLibrary': '0',  #/MT
diff --git a/deps/v8/include/v8-version.h b/deps/v8/include/v8-version.h
index e0efde2b0b6dc2..d4129c32f45938 100644
--- a/deps/v8/include/v8-version.h
+++ b/deps/v8/include/v8-version.h
@@ -11,7 +11,7 @@
 #define V8_MAJOR_VERSION 5
 #define V8_MINOR_VERSION 1
 #define V8_BUILD_NUMBER 281
-#define V8_PATCH_LEVEL 77
+#define V8_PATCH_LEVEL 78
 
 // Use 1 for candidates and 0 otherwise.
 // (Boolean macro values are not supported by all preprocessors.)