diff --git a/config/functions b/config/functions
index c20d577ab0..a8eddc287b 100644
--- a/config/functions
+++ b/config/functions
@@ -1,8 +1,13 @@
 setup_toolchain() {
+  TARGET_AR_NM_RANLIB_PREFIX=""
+
   if [ "$LTO_SUPPORT" = "yes" ] && flag_enabled "lto" "no"; then
     TARGET_CFLAGS+=" $CFLAGS_OPTIM_LTO"
     TARGET_CXXFLAGS+=" $CXXFLAGS_OPTIM_LTO"
     TARGET_LDFLAGS+=" $LDFLAGS_OPTIM_LTO"
+    # static libs with lto info require gcc-ar/gcc-nm/gcc-ranlib instead of
+    # default binutils versions
+    TARGET_AR_NM_RANLIB_PREFIX="gcc-"
   fi
 
   # gold flag
@@ -46,9 +51,9 @@ setup_toolchain() {
       export CPP="${TARGET_PREFIX}cpp"
       export LD="${TARGET_PREFIX}ld"
       export AS="${TARGET_PREFIX}as"
-      export AR="${TARGET_PREFIX}ar"
-      export NM="${TARGET_PREFIX}nm"
-      export RANLIB="${TARGET_PREFIX}ranlib"
+      export AR="${TARGET_PREFIX}${TARGET_AR_NM_RANLIB_PREFIX}ar"
+      export NM="${TARGET_PREFIX}${TARGET_AR_NM_RANLIB_PREFIX}nm"
+      export RANLIB="${TARGET_PREFIX}${TARGET_AR_NM_RANLIB_PREFIX}ranlib"
       export OBJCOPY="${TARGET_PREFIX}objcopy"
       export OBJDUMP="${TARGET_PREFIX}objdump"
       export STRIP="${TARGET_PREFIX}strip"