diff --git a/cmake/external_protobuf.cmake b/cmake/external_protobuf.cmake
index 9d5111b78..215af9914 100644
--- a/cmake/external_protobuf.cmake
+++ b/cmake/external_protobuf.cmake
@@ -44,7 +44,8 @@ if(CMAKE_CROSSCOMPILING)
         message(FATAL_ERROR "System Protobuf is needed while cross-compiling")
     endif()
 else()
-    set(PROTOC_VERSION "3.7.1")
+    # This version of Protobuf needs to match the version used by ONNX Runtime
+    set(PROTOC_VERSION "3.11.3")
 endif()
 
 set(NGRAPH_PROTOBUF_GIT_TAG "v${PROTOC_VERSION}")
@@ -178,14 +179,21 @@ endif()
 # Use the interface of FindProtobuf.cmake
 # -----------------------------------------------------------------------------
 
-if (NOT TARGET protobuf::libprotobuf)
-    add_library(protobuf::libprotobuf UNKNOWN IMPORTED)
-    set_target_properties(protobuf::libprotobuf PROPERTIES
-        INTERFACE_SYSTEM_INCLUDE_DIRECTORIES "${Protobuf_INCLUDE_DIR}"
-        IMPORTED_LOCATION "${Protobuf_LIBRARY}")
-    add_dependencies(protobuf::libprotobuf ext_protobuf)
+if (NOT TARGET libprotobuf)
+    add_library(libprotobuf INTERFACE)
+    if (WIN32)
+      target_link_libraries(libprotobuf INTERFACE
+        debug ${Protobuf_INSTALL_PREFIX}/lib/libprotobufd.lib
+        optimized ${Protobuf_INSTALL_PREFIX}/lib/libprotobuf.lib)
+    else()
+      target_link_libraries(libprotobuf INTERFACE
+        ${Protobuf_INSTALL_PREFIX}/lib/libprotobuf.a)
+    endif()
+    set_target_properties(libprotobuf PROPERTIES
+      INTERFACE_INCLUDE_DIRECTORIES "${Protobuf_INCLUDE_DIR}")
+    add_dependencies(libprotobuf ext_protobuf)
 endif()
-set(Protobuf_LIBRARIES protobuf::libprotobuf)
+set(Protobuf_LIBRARIES libprotobuf)
 
 if (NOT TARGET protobuf::protoc)
     add_executable(protobuf::protoc IMPORTED)