diff --git a/README.md b/README.md
index 782312e..4ea10b1 100644
--- a/README.md
+++ b/README.md
@@ -60,7 +60,7 @@ If you need to detect that you are running with `ts-node-dev`, check if `process
 
 - If you want desktop-notifications you should install `node-notifier` package and use `--notify` flag.
 
-- Especially for large code bases always consider running with `--transpile-only` flag which is normal for dev workflow and will speed up things greatly. Note, that `ts-node-dev` will not put watch handlers on TS files that contain only types/interfaces (used only for type checking) - this is current limitation by design.
+- Especially for large code bases always consider running with `--swc` or `--transpile-only` flag which is normal for dev workflow and will speed up things greatly. Note, that `ts-node-dev` will not put watch handlers on TS files that contain only types/interfaces (used only for type checking) - this is current limitation by design.
 
 - `--ignore-watch` will NOT affect files ignored by TS compilation. Use `--ignore` option (or `TS_NODE_IGNORE` env variable) to pass **RegExp strings** for filtering files that should not be compiled, by default `/node_modules/` are ignored.
 
diff --git a/package.json b/package.json
index c5e6e8b..782f1fe 100644
--- a/package.json
+++ b/package.json
@@ -50,7 +50,7 @@
     "rimraf": "^2.6.1",
     "source-map-support": "^0.5.12",
     "tree-kill": "^1.2.2",
-    "ts-node": "^10.4.0",
+    "ts-node": "^10.5.0",
     "tsconfig": "^7.0.0"
   },
   "devDependencies": {
diff --git a/src/bin.ts b/src/bin.ts
index abe42cc..7849e3e 100644
--- a/src/bin.ts
+++ b/src/bin.ts
@@ -15,6 +15,7 @@ const tsNodeFlags = {
     'files',
     'pretty',
     'transpile-only',
+    'swc',
     'prefer-ts-exts',
     'prefer-ts',
     'log-error',
@@ -37,6 +38,7 @@ const tsNodeFlags = {
 
 const tsNodeAlias = {
   'transpile-only': 'T',
+  'swc': 'W',
   'compiler-host': 'H',
   ignore: 'I',
   'ignore-diagnostics': 'D',
@@ -58,6 +60,7 @@ type TSNodeOptions = {
   emit: boolean
   files: boolean
   'transpile-only': boolean
+  swc: boolean
   pretty: boolean
   scope: boolean
   scopeDir: string,
diff --git a/src/compiler.ts b/src/compiler.ts
index 79dc354..41f86c7 100644
--- a/src/compiler.ts
+++ b/src/compiler.ts
@@ -203,7 +203,8 @@ export const makeCompiler = (
       emit: options['emit'],
       files: options['files'],
       pretty: options['pretty'],
-      transpileOnly: options['transpile-only'],
+      transpileOnly: options['transpile-only'] ? true : undefined,
+      swc: options['swc'],
       ignore: options['ignore'] ? split(options['ignore']) : undefined,
       preferTsExts: options['prefer-ts-exts'],
       logError: options['log-error'],
diff --git a/yarn.lock b/yarn.lock
index 6ab0ef4..15f40d9 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -4632,10 +4632,10 @@ ts-nameof@^5.0.0:
     "@ts-nameof/transforms-ts" "^4.2.1"
     glob "^7.1.6"
 
-ts-node@^10.4.0:
-  version "10.4.0"
-  resolved "https://registry.yarnpkg.com/ts-node/-/ts-node-10.4.0.tgz#680f88945885f4e6cf450e7f0d6223dd404895f7"
-  integrity sha512-g0FlPvvCXSIO1JDF6S232P5jPYqBkRL9qly81ZgAOSU7rwI0stphCgd2kLiCrU9DjQCrJMWEqcNSjQL02s6d8A==
+ts-node@^10.5.0:
+  version "10.5.0"
+  resolved "https://registry.yarnpkg.com/ts-node/-/ts-node-10.5.0.tgz#618bef5854c1fbbedf5e31465cbb224a1d524ef9"
+  integrity sha512-6kEJKwVxAJ35W4akuiysfKwKmjkbYxwQMTBaAxo9KKAx/Yd26mPUyhGz3ji+EsJoAgrLqVsYHNuuYwQe22lbtw==
   dependencies:
     "@cspotcode/source-map-support" "0.7.0"
     "@tsconfig/node10" "^1.0.7"
@@ -4648,6 +4648,7 @@ ts-node@^10.4.0:
     create-require "^1.1.0"
     diff "^4.0.1"
     make-error "^1.1.1"
+    v8-compile-cache-lib "^3.0.0"
     yn "3.1.1"
 
 tsconfig-paths@^3.3.1:
@@ -4831,6 +4832,11 @@ uuid@^3.0.0:
   version "3.1.0"
   resolved "https://registry.yarnpkg.com/uuid/-/uuid-3.1.0.tgz#3dd3d3e790abc24d7b0d3a034ffababe28ebbc04"
 
+v8-compile-cache-lib@^3.0.0:
+  version "3.0.0"
+  resolved "https://registry.yarnpkg.com/v8-compile-cache-lib/-/v8-compile-cache-lib-3.0.0.tgz#0582bcb1c74f3a2ee46487ceecf372e46bce53e8"
+  integrity sha512-mpSYqfsFvASnSn5qMiwrr4VKfumbPyONLCOPmsR3A6pTY/r0+tSaVbgPWSAIuzbk3lCTa+FForeTiO+wBQGkjA==
+
 v8-compile-cache@^2.0.3:
   version "2.1.1"
   resolved "https://registry.yarnpkg.com/v8-compile-cache/-/v8-compile-cache-2.1.1.tgz#54bc3cdd43317bca91e35dcaf305b1a7237de745"