diff --git a/makepanda/makepanda.py b/makepanda/makepanda.py
index 3c90753183..5e34684449 100755
--- a/makepanda/makepanda.py
+++ b/makepanda/makepanda.py
@@ -1354,12 +1354,12 @@ def CompileLink(dll, obj, opts):
             cmd += ' /OUT:' + BracketNameWithQuotes(dll)
             subsystem = GetValueOption(opts, "SUBSYSTEM:")
             if (subsystem): cmd += " /SUBSYSTEM:" + subsystem
-            if (dll.endswith(".dll")):
-                cmd += ' /IMPLIB:' + GetOutputDir() + '/lib/'+os.path.splitext(os.path.basename(dll))[0]+".lib"
+            if (dll.endswith(".dll") or dll.endswith(".pyd")):
+                cmd += ' /IMPLIB:' + GetOutputDir() + '/lib/' + os.path.splitext(os.path.basename(dll))[0] + ".lib"
             for (opt, dir) in LIBDIRECTORIES:
                 if (opt=="ALWAYS") or (opt in opts): cmd += ' /LIBPATH:' + BracketNameWithQuotes(dir)
             for x in obj:
-                if (x.endswith(".dll")):
+                if (x.endswith(".dll") or x.endswith(".pyd")):
                     cmd += ' ' + GetOutputDir() + '/lib/' + os.path.splitext(os.path.basename(x))[0] + ".lib"
                 elif (x.endswith(".lib")):
                     dname = os.path.splitext(os.path.basename(x))[0] + ".dll"
@@ -1401,12 +1401,12 @@ def CompileLink(dll, obj, opts):
             cmd += ' /OUT:' + BracketNameWithQuotes(dll)
             subsystem = GetValueOption(opts, "SUBSYSTEM:")
             if (subsystem): cmd += " /SUBSYSTEM:" + subsystem
-            if (dll.endswith(".dll")):
+            if (dll.endswith(".dll") or dll.endswith(".pyd")):
                 cmd += ' /IMPLIB:' + GetOutputDir() + '/lib/'+os.path.splitext(os.path.basename(dll))[0]+".lib"
             for (opt, dir) in LIBDIRECTORIES:
                 if (opt=="ALWAYS") or (opt in opts): cmd += ' /LIBPATH:' + BracketNameWithQuotes(dir)
             for x in obj:
-                if (x.endswith(".dll")):
+                if (x.endswith(".dll") or x.endswith(".pyd")):
                     cmd += ' ' + GetOutputDir() + '/lib/' + os.path.splitext(os.path.basename(x))[0] + ".lib"
                 elif (x.endswith(".lib")):
                     dname = os.path.splitext(dll)[0]+".dll"