diff --git a/src/lib/libembind.js b/src/lib/libembind.js
index 62a11711938d9..4c11a83e36791 100644
--- a/src/lib/libembind.js
+++ b/src/lib/libembind.js
@@ -36,7 +36,13 @@ var LibraryEmbind = {
   $PureVirtualError: undefined,
   $GenericWireTypeSize: {{{ 2 * POINTER_SIZE }}},
 #if EMBIND_AOT
-  $InvokerFunctions: '<<< EMBIND_AOT_OUTPUT >>>',
+  $InvokerFunctions: '<<< EMBIND_AOT_INVOKERS >>>',
+#if MODULARIZE == 'instance'
+  // embindUpdateExports is called in the generated code after embind is
+  // initialized. It will link the bindings to the ES module exports.
+  $embindUpdateExports: '<<< EMBIND_AOT_UPDATE_EXPORTS >>>',
+  $embindUpdateExports__postset: 'addOnInit(embindUpdateExports);',
+#endif
 #endif
   // If register_type is used, emval will be registered multiple times for
   // different type id's, but only a single type object is needed on the JS side
@@ -2362,4 +2368,8 @@ var LibraryEmbind = {
   },
 };
 
+#if MODULARIZE == 'instance'
+extraLibraryFuncs.push('$embindUpdateExports');
+#endif
+
 addToLibrary(LibraryEmbind);
diff --git a/src/lib/libembind_gen.js b/src/lib/libembind_gen.js
index 557bf79dc027e..bbc73803b2a64 100644
--- a/src/lib/libembind_gen.js
+++ b/src/lib/libembind_gen.js
@@ -44,6 +44,7 @@ var LibraryEmbind = {
   },
   $FunctionDefinition__deps: ['$createJsInvoker', '$createJsInvokerSignature', '$emittedFunctions'],
   $FunctionDefinition: class {
+    hasPublicSymbol = true;
     constructor(name, returnType, argumentTypes, functionIndex, thisType = null, isNonnullReturn = false, isAsync = false) {
       this.name = name;
       this.returnType = returnType;
@@ -157,6 +158,7 @@ var LibraryEmbind = {
     }
   },
   $ClassDefinition: class {
+    hasPublicSymbol = true;
     constructor(typeId, name, base = null) {
       this.typeId = typeId;
       this.name = name;
@@ -268,6 +270,7 @@ var LibraryEmbind = {
     }
   },
   $ConstantDefinition: class {
+    hasPublicSymbol = true;
     constructor(type, name) {
       this.type = type;
       this.name = name;
@@ -278,6 +281,7 @@ var LibraryEmbind = {
     }
   },
   $EnumDefinition: class {
+    hasPublicSymbol = true;
     constructor(typeId, name) {
       this.typeId = typeId;
       this.name = name;
@@ -454,14 +458,27 @@ var LibraryEmbind = {
 
     print() {
       const out = ['{\n'];
+      const publicSymbols = [];
       for (const def of this.definitions) {
+        if (def.hasPublicSymbol) {
+          publicSymbols.push(def.name);
+        }
         if (!def.printJs) {
           continue;
         }
         def.printJs(out);
       }
-      out.push('}')
-      console.log(out.join(''));
+      out.push('}\n');
+      let updateExports = '() => {\n';
+      for (const publicSymbol of publicSymbols) {
+        updateExports += `__exp_${publicSymbol} = Module['${publicSymbol}'];\n`
+      }
+      updateExports += '}\n';
+      console.log(JSON.stringify({
+        'invokers': out.join(''),
+        publicSymbols,
+        updateExports
+      }));
     }
   },
 
diff --git a/src/settings_internal.js b/src/settings_internal.js
index 8b4d82426f026..2d5f6e6912b10 100644
--- a/src/settings_internal.js
+++ b/src/settings_internal.js
@@ -89,6 +89,9 @@ var USE_ASAN = false;
 // Whether embind has been enabled.
 var EMBIND = false;
 
+// Symbols that embind exports. Only available when using EMBIND_AOT.
+var EMBIND_EXPORTS = [];
+
 // Whether a TypeScript definition file has been requested.
 var EMIT_TSD = false;
 
diff --git a/test/modularize_instance_embind.cpp b/test/modularize_instance_embind.cpp
new file mode 100644
index 0000000000000..542fca8fc14ec
--- /dev/null
+++ b/test/modularize_instance_embind.cpp
@@ -0,0 +1,26 @@
+#include <stdio.h>
+#include <emscripten.h>
+#include <emscripten/bind.h>
+
+using namespace emscripten;
+
+void foo() {
+  printf("foo\n");
+}
+
+struct Bar {
+  void print() {
+    printf("bar\n");
+  }
+};
+
+int main() {
+  printf("main\n");
+}
+
+EMSCRIPTEN_BINDINGS(xxx) {
+  function("foo", &foo);
+  class_<Bar>("Bar")
+    .constructor<>()
+    .function("print", &Bar::print);
+}
diff --git a/test/test_other.py b/test/test_other.py
index 8f16cef823248..9bf3d4adde5c8 100644
--- a/test/test_other.py
+++ b/test/test_other.py
@@ -477,6 +477,24 @@ def test_modularize_instance(self, args):
 
     self.assertContained('main1\nmain2\nfoo\nbar\nbaz\n', self.run_js('runner.mjs'))
 
+  def test_modularize_instance_embind(self):
+    self.run_process([EMCC, test_file('modularize_instance_embind.cpp'),
+                      '-sMODULARIZE=instance',
+                      '-lembind',
+                      '-sEMBIND_AOT',
+                      '-o', 'modularize_instance_embind.mjs'])
+
+    create_file('runner.mjs', '''
+      import init, { foo, Bar } from "./modularize_instance_embind.mjs";
+      await init();
+      foo();
+      const bar = new Bar();
+      bar.print();
+      bar.delete();
+    ''')
+
+    self.assertContained('main\nfoo\nbar\n', self.run_js('runner.mjs'))
+
   def test_emcc_out_file(self):
     # Verify that "-ofile" works in addition to "-o" "file"
     self.run_process([EMCC, '-c', '-ofoo.o', test_file('hello_world.c')])
@@ -3402,7 +3420,7 @@ def test_embind_tsgen_end_to_end(self, opts, tsc_opts):
     # Check that TypeScript generation works and that the program is runs as
     # expected.
     self.emcc(test_file('other/embind_tsgen.cpp'),
-              ['-o', 'embind_tsgen.js', '-lembind', '--emit-tsd', 'embind_tsgen.d.ts'] + opts)
+              ['-o', 'embind_tsgen.js', '-sEMBIND_AOT', '-lembind', '--emit-tsd', 'embind_tsgen.d.ts'] + opts)
 
     # Test that the output compiles with a TS file that uses the defintions.
     shutil.copyfile(test_file('other/embind_tsgen_main.ts'), 'main.ts')
diff --git a/tools/link.py b/tools/link.py
index 11fed89ae1855..5ac6aa9eb2a55 100644
--- a/tools/link.py
+++ b/tools/link.py
@@ -2047,9 +2047,13 @@ def phase_emit_tsd(options, wasm_target, js_target, js_syms, metadata, linker_in
 def phase_embind_aot(wasm_target, js_syms, linker_inputs):
   out = run_embind_gen(wasm_target, js_syms, {}, linker_inputs)
   if DEBUG:
-    write_file(in_temp('embind_aot.js'), out)
+    write_file(in_temp('embind_aot.json'), out)
+  out = json.loads(out)
   src = read_file(final_js)
-  src = do_replace(src, '<<< EMBIND_AOT_OUTPUT >>>', out)
+  src = do_replace(src, '<<< EMBIND_AOT_INVOKERS >>>', out['invokers'])
+  if settings.MODULARIZE == 'instance':
+    settings.EMBIND_EXPORTS = out['publicSymbols']
+    src = do_replace(src, '<<< EMBIND_AOT_UPDATE_EXPORTS >>>', out['updateExports'])
   write_file(final_js, src)
 
 
@@ -2488,7 +2492,7 @@ def modularize():
   # Export using a UMD style export, or ES6 exports if selected
   if settings.EXPORT_ES6:
     if settings.MODULARIZE == 'instance':
-      exports = settings.EXPORTED_FUNCTIONS + settings.EXPORTED_RUNTIME_METHODS
+      exports = settings.EXPORTED_FUNCTIONS + settings.EXPORTED_RUNTIME_METHODS + settings.EMBIND_EXPORTS
       # Declare a top level var for each export so that code in the init function
       # can assign to it and update the live module bindings.
       src += 'var ' + ', '.join(['__exp_' + export for export in exports]) + ';\n'