diff --git a/README.md b/README.md
index 7724dce59b..619a8032d4 100644
--- a/README.md
+++ b/README.md
@@ -85,7 +85,7 @@ If you're not using precompiled libs, build the projects in *__BUILD_BEFORE* fol
 While still in the project root:
 
 1) `cd .. && mkdir rpcs3_build && cd rpcs3_build`
-2) `cmake ../rpcs3/ && make GitVersion && make`
+2) `cmake ../rpcs3/ && make`
 3) Run RPCS3 with `./bin/rpcs3`
 
 When using GDB, configure it to ignore SIGSEGV signal (`handle SIGSEGV nostop noprint`).
diff --git a/rpcs3/CMakeLists.txt b/rpcs3/CMakeLists.txt
index d087717809..b1ce27ef46 100644
--- a/rpcs3/CMakeLists.txt
+++ b/rpcs3/CMakeLists.txt
@@ -3,9 +3,7 @@ cmake_minimum_required(VERSION 3.8.2)
 include(cotire)
 
 # Generate git-version.h at build time.
-add_custom_target(GitVersion ALL
-	COMMAND ${CMAKE_COMMAND} -DSOURCE_DIR=${CMAKE_CURRENT_SOURCE_DIR}
-	-P ${CMAKE_CURRENT_SOURCE_DIR}/git-version.cmake)
+include(${CMAKE_CURRENT_SOURCE_DIR}/git-version.cmake)
 
 # Check for a sufficient compiler and set build options
 include(ConfigureCompiler)
@@ -54,7 +52,7 @@ else()
 	add_executable(rpcs3 ${RPCS3_SRC})
 endif()
 
-add_dependencies(rpcs3 GitVersion)
+gen_git_version(${RPCS3_SRC_DIR})
 set_target_properties(rpcs3
 	PROPERTIES
 		AUTOMOC ON
diff --git a/rpcs3/git-version.cmake b/rpcs3/git-version.cmake
index 62123ca9dd..62803b7bff 100644
--- a/rpcs3/git-version.cmake
+++ b/rpcs3/git-version.cmake
@@ -1,63 +1,79 @@
-set(GIT_VERSION_FILE "${SOURCE_DIR}/git-version.h")
-set(GIT_VERSION "unknown")
-set(GIT_BRANCH "unknown")
-set(GIT_VERSION_UPDATE "1")
+set(RPCS3_GIT_VERSION "unknown")
+set(RPCS3_GIT_BRANCH "unknown")
+set(RPCS3_GIT_TAG "unknown")
 
 find_package(Git)
-if(GIT_FOUND AND EXISTS "${SOURCE_DIR}/../.git/")
+if(GIT_FOUND AND EXISTS "${CMAKE_SOURCE_DIR}/.git/")
 	execute_process(COMMAND ${GIT_EXECUTABLE} rev-list HEAD --count
-		WORKING_DIRECTORY ${SOURCE_DIR}
+		WORKING_DIRECTORY ${CMAKE_SOURCE_DIR}
 		RESULT_VARIABLE exit_code
-		OUTPUT_VARIABLE GIT_VERSION)
+		OUTPUT_VARIABLE RPCS3_GIT_VERSION)
 	if(NOT ${exit_code} EQUAL 0)
 		message(WARNING "git rev-list failed, unable to include version.")
 	endif()
 	execute_process(COMMAND ${GIT_EXECUTABLE} rev-parse --short=8 HEAD
-		WORKING_DIRECTORY ${SOURCE_DIR}
+		WORKING_DIRECTORY ${CMAKE_SOURCE_DIR}
 		RESULT_VARIABLE exit_code
 		OUTPUT_VARIABLE GIT_VERSION_)
 	if(NOT ${exit_code} EQUAL 0)
 		message(WARNING "git rev-parse failed, unable to include version.")
 	endif()
 	execute_process(COMMAND ${GIT_EXECUTABLE} rev-parse --abbrev-ref HEAD
-		WORKING_DIRECTORY ${SOURCE_DIR}
+		WORKING_DIRECTORY ${CMAKE_SOURCE_DIR}
 		RESULT_VARIABLE exit_code
-		OUTPUT_VARIABLE GIT_BRANCH)
+		OUTPUT_VARIABLE RPCS3_GIT_BRANCH)
 	if(NOT ${exit_code} EQUAL 0)
 		message(WARNING "git rev-parse failed, unable to include git branch.")
 	endif()
-	string(STRIP ${GIT_VERSION} GIT_VERSION)
+	execute_process(COMMAND ${GIT_EXECUTABLE} describe --tags --abbrev=0
+		WORKING_DIRECTORY ${CMAKE_SOURCE_DIR}
+		RESULT_VARIABLE exit_code
+		OUTPUT_VARIABLE RPCS3_GIT_TAG)
+	if(NOT ${exit_code} EQUAL 0)
+		message(WARNING "git describe failed, unable to include git tag.")
+	endif()
+
+	string(STRIP ${RPCS3_GIT_VERSION} RPCS3_GIT_VERSION)
 	string(STRIP ${GIT_VERSION_} GIT_VERSION_)
-	string(STRIP ${GIT_VERSION}-${GIT_VERSION_} GIT_VERSION)
-	string(STRIP ${GIT_BRANCH} GIT_BRANCH)
-	message(STATUS "GIT_VERSION: " ${GIT_VERSION})
-	message(STATUS "GIT_BRANCH: " ${GIT_BRANCH})
+	string(STRIP ${RPCS3_GIT_VERSION}-${GIT_VERSION_} RPCS3_GIT_VERSION)
+	string(STRIP ${RPCS3_GIT_BRANCH} RPCS3_GIT_BRANCH)
+	string(STRIP ${RPCS3_GIT_TAG} RPCS3_GIT_TAG)
+	string(REPLACE "v" "" RPCS3_GIT_TAG ${RPCS3_GIT_TAG})
 else()
 	message(WARNING "git not found, unable to include version.")
 endif()
 
-if(EXISTS ${GIT_VERSION_FILE})
-	# Don't update if marked not to update.
-	file(STRINGS ${GIT_VERSION_FILE} match
-		REGEX "RPCS3_GIT_VERSION_NO_UPDATE 1")
-	if(NOT "${match}" STREQUAL "")
-		set(GIT_VERSION_UPDATE "0")
+function(gen_git_version rpcs3_src_dir)
+	set(GIT_VERSION_FILE "${rpcs3_src_dir}/git-version.h")
+	set(GIT_VERSION_UPDATE "1")
+
+	message(STATUS "RPCS3_GIT_VERSION: " ${RPCS3_GIT_VERSION})
+	message(STATUS "RPCS3_GIT_BRANCH: " ${RPCS3_GIT_BRANCH})
+	message(STATUS "RPCS3_GIT_TAG: " ${RPCS3_GIT_TAG})
+
+	if(EXISTS ${GIT_VERSION_FILE})
+		# Don't update if marked not to update.
+		file(STRINGS ${GIT_VERSION_FILE} match
+			REGEX "RPCS3_GIT_VERSION_NO_UPDATE 1")
+		if(NOT "${match}" STREQUAL "")
+			set(GIT_VERSION_UPDATE "0")
+		endif()
+
+		# Don't update if it's already the same.
+		file(STRINGS ${GIT_VERSION_FILE} match
+			REGEX "${GIT_VERSION}")
+		if(NOT "${match}" STREQUAL "")
+			set(GIT_VERSION_UPDATE "0")
+		endif()
 	endif()
 
-	# Don't update if it's already the same.
-	file(STRINGS ${GIT_VERSION_FILE} match
-		REGEX "${GIT_VERSION}")
-	if(NOT "${match}" STREQUAL "")
-		set(GIT_VERSION_UPDATE "0")
+	set(code_string "// This is a generated file.\n\n"
+		"#define RPCS3_GIT_VERSION \"${GIT_VERSION}\"\n"
+		"#define RPCS3_GIT_BRANCH \"${GIT_BRANCH}\"\n\n"
+		"// If you don't want this file to update/recompile, change to 1.\n"
+		"#define RPCS3_GIT_VERSION_NO_UPDATE 0\n")
+
+	if ("${GIT_VERSION_UPDATE}" EQUAL "1")
+		file(WRITE ${GIT_VERSION_FILE} ${code_string})
 	endif()
-endif()
-
-set(code_string "// This is a generated file.\n\n"
-	"#define RPCS3_GIT_VERSION \"${GIT_VERSION}\"\n"
-	"#define RPCS3_GIT_BRANCH \"${GIT_BRANCH}\"\n\n"
-	"// If you don't want this file to update/recompile, change to 1.\n"
-	"#define RPCS3_GIT_VERSION_NO_UPDATE 0\n")
-
-if ("${GIT_VERSION_UPDATE}" EQUAL "1")
-	file(WRITE ${GIT_VERSION_FILE} ${code_string})
-endif()
+endfunction()