diff -ur a/cpp/CMakeLists.txt b/cpp/CMakeLists.txt
--- a/cpp/CMakeLists.txt
+++ b/cpp/CMakeLists.txt
@@ -742,6 +742,7 @@
 endif()
 
 if(ARROW_WITH_LZ4)
+  add_library(LZ4::lz4 ALIAS LZ4::lz4_shared)
   list(APPEND ARROW_STATIC_LINK_LIBS LZ4::lz4)
   if(lz4_SOURCE STREQUAL "SYSTEM")
     list(APPEND ARROW_STATIC_INSTALL_INTERFACE_LIBS LZ4::lz4)
