diff --git a/docs/angular/api-react/generators/application.md b/docs/angular/api-react/generators/application.md
index c912289b6b..0e922fe3af 100644
--- a/docs/angular/api-react/generators/application.md
+++ b/docs/angular/api-react/generators/application.md
@@ -63,6 +63,16 @@ Type: `boolean`
 
 Use class components instead of functional component.
 
+### compiler
+
+Default: `babel`
+
+Type: `string`
+
+Possible values: `babel`, `swc`
+
+The compiler to use
+
 ### directory
 
 Alias(es): dir
diff --git a/docs/angular/api-web/executors/webpack.md b/docs/angular/api-web/executors/webpack.md
index cdbb792757..71d6c7d54e 100644
--- a/docs/angular/api-web/executors/webpack.md
+++ b/docs/angular/api-web/executors/webpack.md
@@ -63,6 +63,16 @@ Type: `boolean`
 
 Use a separate bundle containing code used across multiple bundles.
 
+### compiler
+
+Default: `babel`
+
+Type: `string`
+
+Possible values: `babel`, `swc`
+
+The compiler to use
+
 ### crossOrigin
 
 Type: `string`
diff --git a/docs/angular/api-web/generators/application.md b/docs/angular/api-web/generators/application.md
index 917d827e28..01daaaddd2 100644
--- a/docs/angular/api-web/generators/application.md
+++ b/docs/angular/api-web/generators/application.md
@@ -41,6 +41,16 @@ Type: `boolean`
 
 Use babel instead ts-jest
 
+### compiler
+
+Default: `babel`
+
+Type: `string`
+
+Possible values: `babel`, `swc`
+
+The compiler to use
+
 ### directory
 
 Type: `string`
diff --git a/docs/node/api-react/generators/application.md b/docs/node/api-react/generators/application.md
index 51764bd9a3..ab20c580e4 100644
--- a/docs/node/api-react/generators/application.md
+++ b/docs/node/api-react/generators/application.md
@@ -63,6 +63,16 @@ Type: `boolean`
 
 Use class components instead of functional component.
 
+### compiler
+
+Default: `babel`
+
+Type: `string`
+
+Possible values: `babel`, `swc`
+
+The compiler to use
+
 ### directory
 
 Alias(es): dir
diff --git a/docs/node/api-web/executors/webpack.md b/docs/node/api-web/executors/webpack.md
index e102bda6eb..8df6225be6 100644
--- a/docs/node/api-web/executors/webpack.md
+++ b/docs/node/api-web/executors/webpack.md
@@ -63,6 +63,16 @@ Type: `boolean`
 
 Use a separate bundle containing code used across multiple bundles.
 
+### compiler
+
+Default: `babel`
+
+Type: `string`
+
+Possible values: `babel`, `swc`
+
+The compiler to use
+
 ### crossOrigin
 
 Type: `string`
diff --git a/docs/node/api-web/generators/application.md b/docs/node/api-web/generators/application.md
index dc333565f0..6755992172 100644
--- a/docs/node/api-web/generators/application.md
+++ b/docs/node/api-web/generators/application.md
@@ -41,6 +41,16 @@ Type: `boolean`
 
 Use babel instead ts-jest
 
+### compiler
+
+Default: `babel`
+
+Type: `string`
+
+Possible values: `babel`, `swc`
+
+The compiler to use
+
 ### directory
 
 Type: `string`
diff --git a/docs/react/api-react/generators/application.md b/docs/react/api-react/generators/application.md
index 51764bd9a3..ab20c580e4 100644
--- a/docs/react/api-react/generators/application.md
+++ b/docs/react/api-react/generators/application.md
@@ -63,6 +63,16 @@ Type: `boolean`
 
 Use class components instead of functional component.
 
+### compiler
+
+Default: `babel`
+
+Type: `string`
+
+Possible values: `babel`, `swc`
+
+The compiler to use
+
 ### directory
 
 Alias(es): dir
diff --git a/docs/react/api-web/executors/webpack.md b/docs/react/api-web/executors/webpack.md
index e102bda6eb..8df6225be6 100644
--- a/docs/react/api-web/executors/webpack.md
+++ b/docs/react/api-web/executors/webpack.md
@@ -63,6 +63,16 @@ Type: `boolean`
 
 Use a separate bundle containing code used across multiple bundles.
 
+### compiler
+
+Default: `babel`
+
+Type: `string`
+
+Possible values: `babel`, `swc`
+
+The compiler to use
+
 ### crossOrigin
 
 Type: `string`
diff --git a/docs/react/api-web/generators/application.md b/docs/react/api-web/generators/application.md
index dc333565f0..6755992172 100644
--- a/docs/react/api-web/generators/application.md
+++ b/docs/react/api-web/generators/application.md
@@ -41,6 +41,16 @@ Type: `boolean`
 
 Use babel instead ts-jest
 
+### compiler
+
+Default: `babel`
+
+Type: `string`
+
+Possible values: `babel`, `swc`
+
+The compiler to use
+
 ### directory
 
 Type: `string`
diff --git a/e2e/web/src/web.test.ts b/e2e/web/src/web.test.ts
index 237ba026a0..2a8d801273 100644
--- a/e2e/web/src/web.test.ts
+++ b/e2e/web/src/web.test.ts
@@ -73,7 +73,7 @@ describe('Web Components Applications', () => {
     const appName = uniq('app');
     const libName = uniq('lib');
 
-    runCLI(`generate @nrwl/web:app ${appName} --no-interactive`);
+    runCLI(`generate @nrwl/web:app ${appName} --no-interactive --compiler swc`);
     runCLI(
       `generate @nrwl/react:lib ${libName} --buildable --no-interactive --compiler swc`
     );
diff --git a/packages/react/src/generators/application/application.spec.ts b/packages/react/src/generators/application/application.spec.ts
index 6ac29f83a1..b9adccfed3 100644
--- a/packages/react/src/generators/application/application.spec.ts
+++ b/packages/react/src/generators/application/application.spec.ts
@@ -277,6 +277,7 @@ Object {
     expect(targetConfig.build.executor).toEqual('@nrwl/web:webpack');
     expect(targetConfig.build.outputs).toEqual(['{options.outputPath}']);
     expect(targetConfig.build.options).toEqual({
+      compiler: 'babel',
       assets: ['apps/my-app/src/favicon.ico', 'apps/my-app/src/assets'],
       index: 'apps/my-app/src/index.html',
       main: 'apps/my-app/src/main.tsx',
@@ -735,4 +736,19 @@ Object {
       ).toBeTruthy();
     });
   });
+
+  describe('--compiler', () => {
+    it('should install swc packages if --compiler=swc', async () => {
+      await applicationGenerator(appTree, {
+        ...schema,
+        compiler: 'swc',
+      });
+      const packageJson = readJson(appTree, '/package.json');
+
+      expect(packageJson.devDependencies).toMatchObject({
+        '@swc/core': expect.any(String),
+        'swc-loader': expect.any(String),
+      });
+    });
+  });
 });
diff --git a/packages/react/src/generators/application/application.ts b/packages/react/src/generators/application/application.ts
index fd7d308ad2..08631f3a0e 100644
--- a/packages/react/src/generators/application/application.ts
+++ b/packages/react/src/generators/application/application.ts
@@ -1,6 +1,6 @@
 import {
-  extraEslintDependencies,
   createReactEslintJson,
+  extraEslintDependencies,
 } from '../../utils/lint';
 import { NormalizedSchema, Schema } from './schema';
 import { createApplicationFiles } from './lib/create-application-files';
@@ -24,6 +24,8 @@ import {
 import { runTasksInSerial } from '@nrwl/workspace/src/utilities/run-tasks-in-serial';
 import reactInitGenerator from '../init/init';
 import { lintProjectGenerator } from '@nrwl/linter';
+import { swcCoreVersion } from '@nrwl/js/src/utils/versions';
+import { swcLoaderVersion } from '@nrwl/web/src/utils/versions';
 
 async function addLinting(host: Tree, options: NormalizedSchema) {
   const tasks: GeneratorCallback[] = [];
@@ -52,7 +54,12 @@ async function addLinting(host: Tree, options: NormalizedSchema) {
   const installTask = await addDependenciesToPackageJson(
     host,
     extraEslintDependencies.dependencies,
-    extraEslintDependencies.devDependencies
+    {
+      ...extraEslintDependencies.devDependencies,
+      ...(options.compiler === 'swc'
+        ? { '@swc/core': swcCoreVersion, 'swc-loader': swcLoaderVersion }
+        : {}),
+    }
   );
   tasks.push(installTask);
 
diff --git a/packages/react/src/generators/application/lib/add-project.ts b/packages/react/src/generators/application/lib/add-project.ts
index c70b0aeb92..cb0e8a6da2 100644
--- a/packages/react/src/generators/application/lib/add-project.ts
+++ b/packages/react/src/generators/application/lib/add-project.ts
@@ -40,6 +40,7 @@ function createBuildTarget(options: NormalizedSchema): TargetConfiguration {
     outputs: ['{options.outputPath}'],
     defaultConfiguration: 'production',
     options: {
+      compiler: options.compiler ?? 'babel',
       outputPath: joinPathFragments('dist', options.appProjectRoot),
       index: joinPathFragments(options.appProjectRoot, 'src/index.html'),
       baseHref: '/',
diff --git a/packages/react/src/generators/application/schema.d.ts b/packages/react/src/generators/application/schema.d.ts
index fd18998712..f920cac2c1 100644
--- a/packages/react/src/generators/application/schema.d.ts
+++ b/packages/react/src/generators/application/schema.d.ts
@@ -20,6 +20,7 @@ export interface Schema {
   strict?: boolean;
   setParserOptionsProject?: boolean;
   standaloneConfig?: boolean;
+  compiler?: 'babel' | 'swc';
 }
 
 export interface NormalizedSchema extends Schema {
diff --git a/packages/react/src/generators/application/schema.json b/packages/react/src/generators/application/schema.json
index 36f311cbc9..a3821601bd 100644
--- a/packages/react/src/generators/application/schema.json
+++ b/packages/react/src/generators/application/schema.json
@@ -152,6 +152,12 @@
     "standaloneConfig": {
       "description": "Split the project configuration into <projectRoot>/project.json rather than including it inside workspace.json",
       "type": "boolean"
+    },
+    "compiler": {
+      "type": "string",
+      "description": "The compiler to use",
+      "enum": ["babel", "swc"],
+      "default": "babel"
     }
   },
   "required": []
diff --git a/packages/web/src/executors/webpack/schema.json b/packages/web/src/executors/webpack/schema.json
index 0e3c00ec81..c19791db22 100644
--- a/packages/web/src/executors/webpack/schema.json
+++ b/packages/web/src/executors/webpack/schema.json
@@ -16,6 +16,12 @@
       "type": "string",
       "description": "The name of the Typescript configuration file."
     },
+    "compiler": {
+      "type": "string",
+      "description": "The compiler to use",
+      "enum": ["babel", "swc"],
+      "default": "babel"
+    },
     "outputPath": {
       "type": "string",
       "description": "The output path of the generated files."
diff --git a/packages/web/src/executors/webpack/webpack.impl.ts b/packages/web/src/executors/webpack/webpack.impl.ts
index 06276e426e..3fc64de7fa 100644
--- a/packages/web/src/executors/webpack/webpack.impl.ts
+++ b/packages/web/src/executors/webpack/webpack.impl.ts
@@ -1,4 +1,4 @@
-import type { ExecutorContext } from '@nrwl/devkit';
+import { ExecutorContext, logger } from '@nrwl/devkit';
 import type { Configuration, Stats } from 'webpack';
 import { from, of } from 'rxjs';
 import { bufferCount, mergeScan, switchMap, tap } from 'rxjs/operators';
@@ -132,6 +132,18 @@ export async function* run(
 
   const metadata = context.workspace.projects[context.projectName];
 
+  if (options.compiler === 'swc') {
+    try {
+      require.resolve('swc-loader');
+      require.resolve('@swc/core');
+    } catch {
+      logger.error(
+        `Missing SWC dependencies: @swc/core, swc-loader. Make sure you install them first.`
+      );
+      return { success: false };
+    }
+  }
+
   if (!options.buildLibsFromSource && context.targetName) {
     const { dependencies } = calculateProjectDependencies(
       readCachedProjectGraph(),
diff --git a/packages/web/src/generators/application/application.spec.ts b/packages/web/src/generators/application/application.spec.ts
index 3a1e2afc7a..ec4c779ee0 100644
--- a/packages/web/src/generators/application/application.spec.ts
+++ b/packages/web/src/generators/application/application.spec.ts
@@ -257,6 +257,7 @@ describe('app', () => {
     expect(architectConfig.build.builder).toEqual('@nrwl/web:webpack');
     expect(architectConfig.build.outputs).toEqual(['{options.outputPath}']);
     expect(architectConfig.build.options).toEqual({
+      compiler: 'babel',
       assets: ['apps/my-app/src/favicon.ico', 'apps/my-app/src/assets'],
       index: 'apps/my-app/src/index.html',
       baseHref: '/',
diff --git a/packages/web/src/generators/application/application.ts b/packages/web/src/generators/application/application.ts
index 5d8f67c075..6153067fd1 100644
--- a/packages/web/src/generators/application/application.ts
+++ b/packages/web/src/generators/application/application.ts
@@ -1,4 +1,5 @@
 import {
+  addDependenciesToPackageJson,
   addProjectConfiguration,
   convertNxGenerator,
   formatFiles,
@@ -25,6 +26,8 @@ import { jestProjectGenerator } from '@nrwl/jest';
 
 import { WebWebpackExecutorOptions } from '../../executors/webpack/webpack.impl';
 import { Schema } from './schema';
+import { swcCoreVersion } from '@nrwl/js/src/utils/versions';
+import { swcLoaderVersion } from '../../utils/versions';
 
 interface NormalizedSchema extends Schema {
   projectName: string;
@@ -52,6 +55,7 @@ function addBuildTarget(
 ): ProjectConfiguration {
   const buildOptions: WebWebpackExecutorOptions = {
     outputPath: joinPathFragments('dist', options.appProjectRoot),
+    compiler: options.compiler ?? 'babel',
     index: joinPathFragments(options.appProjectRoot, 'src/index.html'),
     baseHref: '/',
     main: joinPathFragments(options.appProjectRoot, 'src/main.ts'),
@@ -222,6 +226,15 @@ export async function applicationGenerator(host: Tree, schema: Schema) {
     tasks.push(jestTask);
   }
 
+  if (options.compiler === 'swc') {
+    const installTask = await addDependenciesToPackageJson(
+      host,
+      {},
+      { '@swc/core': swcCoreVersion, 'swc-loader': swcLoaderVersion }
+    );
+    tasks.push(installTask);
+  }
+
   setDefaults(host, options);
 
   if (!schema.skipFormat) {
diff --git a/packages/web/src/generators/application/schema.d.ts b/packages/web/src/generators/application/schema.d.ts
index ab4427cc58..ecf35d02e7 100644
--- a/packages/web/src/generators/application/schema.d.ts
+++ b/packages/web/src/generators/application/schema.d.ts
@@ -4,6 +4,7 @@ export interface Schema {
   name: string;
   prefix?: string;
   style?: string;
+  compiler?: 'babel' | 'swc';
   skipFormat?: boolean;
   directory?: string;
   tags?: string;
diff --git a/packages/web/src/generators/application/schema.json b/packages/web/src/generators/application/schema.json
index fb23d31931..595d786a50 100644
--- a/packages/web/src/generators/application/schema.json
+++ b/packages/web/src/generators/application/schema.json
@@ -43,6 +43,12 @@
         ]
       }
     },
+    "compiler": {
+      "type": "string",
+      "description": "The compiler to use",
+      "enum": ["babel", "swc"],
+      "default": "babel"
+    },
     "linter": {
       "description": "The tool to use for running lint checks.",
       "type": "string",
diff --git a/packages/web/src/utils/config.ts b/packages/web/src/utils/config.ts
index aad815ad32..40c7b980a1 100644
--- a/packages/web/src/utils/config.ts
+++ b/packages/web/src/utils/config.ts
@@ -72,7 +72,7 @@ export function getBaseWebpackPartial(
             fullySpecified: false,
           },
         },
-        {
+        options.compiler === 'babel' && {
           test: /\.([jt])sx?$/,
           loader: join(__dirname, 'web-babel-loader'),
           exclude: /node_modules/,
@@ -87,7 +87,27 @@ export function getBaseWebpackPartial(
             cacheCompression: false,
           },
         },
-      ],
+        options.compiler === 'swc' && {
+          test: /\.([jt])sx?$/,
+          loader: require.resolve('swc-loader'),
+          exclude: /node_modules/,
+          options: {
+            jsc: {
+              parser: {
+                syntax: 'typescript',
+                decorators: true,
+                tsx: true,
+              },
+              transform: {
+                react: {
+                  runtime: 'automatic',
+                },
+              },
+              loose: true,
+            },
+          },
+        },
+      ].filter(Boolean),
     },
     resolve: {
       extensions,
@@ -123,7 +143,7 @@ export function getBaseWebpackPartial(
     },
   };
 
-  if (isScriptOptimizeOn) {
+  if (options.compiler !== 'swc' && isScriptOptimizeOn) {
     webpackConfig.optimization = {
       sideEffects: false,
       minimizer: [
diff --git a/packages/web/src/utils/normalize.spec.ts b/packages/web/src/utils/normalize.spec.ts
index 57b4d8b57f..851b839362 100644
--- a/packages/web/src/utils/normalize.spec.ts
+++ b/packages/web/src/utils/normalize.spec.ts
@@ -10,6 +10,7 @@ describe('normalizeBuildOptions', () => {
 
   beforeEach(() => {
     testOptions = {
+      compiler: 'babel',
       main: 'apps/nodeapp/src/main.ts',
       tsConfig: 'apps/nodeapp/tsconfig.app.json',
       outputPath: 'dist/apps/nodeapp',
diff --git a/packages/web/src/utils/shared-models.ts b/packages/web/src/utils/shared-models.ts
index 43b181d247..335e685bad 100644
--- a/packages/web/src/utils/shared-models.ts
+++ b/packages/web/src/utils/shared-models.ts
@@ -9,6 +9,7 @@ export interface OptimizationOptions {
 export interface BuildBuilderOptions {
   main: string;
   outputPath: string;
+  compiler: 'babel' | 'swc';
   tsConfig: string;
   watch?: boolean;
   sourceMap?: boolean | 'hidden';
diff --git a/packages/web/src/utils/versions.ts b/packages/web/src/utils/versions.ts
index b2dfdf7bdf..3b2e2c3809 100644
--- a/packages/web/src/utils/versions.ts
+++ b/packages/web/src/utils/versions.ts
@@ -1,3 +1,4 @@
 export const nxVersion = '*';
 
+export const swcLoaderVersion = '0.1.15';
 export const sassVersion = '1.43.2';
diff --git a/packages/web/src/utils/webpack/partials/common.ts b/packages/web/src/utils/webpack/partials/common.ts
index 04f428106c..f24ff48e82 100644
--- a/packages/web/src/utils/webpack/partials/common.ts
+++ b/packages/web/src/utils/webpack/partials/common.ts
@@ -8,13 +8,11 @@ import { ExtraEntryPoint, WebpackConfigOptions } from '../../shared-models';
 import { BuildBrowserFeatures } from '../build-browser-features';
 import { getOutputHashFormat } from '../../hash-format';
 import { normalizeExtraEntryPoints } from '../../normalize';
-import CssMinimizerPlugin = require('css-minimizer-webpack-plugin');
 import { findAllNodeModules, findUp } from '../../fs';
+import CssMinimizerPlugin = require('css-minimizer-webpack-plugin');
 
 const ProgressPlugin = require('webpack/lib/ProgressPlugin');
-const TerserPlugin = require('terser-webpack-plugin');
 
-// tslint:disable-next-line:no-big-function
 export function getCommonConfig(wco: WebpackConfigOptions): Configuration {
   const { ContextReplacementPlugin } = webpack;
 
@@ -208,52 +206,6 @@ export function getCommonConfig(wco: WebpackConfigOptions): Configuration {
     );
   }
 
-  if (scriptsOptimization) {
-    // TODO: Investigate why this fails for some packages: wco.supportES2015 ? 6 : 5;
-    const terserEcma = 5;
-
-    const terserOptions = {
-      warnings: !!buildOptions.verbose,
-      safari10: true,
-      output: {
-        ecma: terserEcma,
-        comments: false,
-        webkit: true,
-      },
-      // On server, we don't want to compress anything. We still set the ngDevMode = false for it
-      // to remove dev code, and ngI18nClosureMode to remove Closure compiler i18n code
-      compress: {
-        ecma: terserEcma,
-        // TODO(jack): Investigate options to enable further optimizations
-        // pure_getters: true,
-        // PURE comments work best with 3 passes.
-        // See https://github.com/webpack/webpack/issues/2899#issuecomment-317425926.
-        // passes: 3,
-      },
-      mangle: true,
-    };
-
-    const es5TerserOptions = {
-      ...terserOptions,
-      compress: {
-        ...terserOptions.compress,
-        ecma: 5,
-      },
-      output: {
-        ...terserOptions.output,
-        ecma: 5,
-      },
-    };
-
-    extraMinimizers.push(
-      new TerserPlugin({ terserOptions }),
-
-      // Script bundles are fully optimized here in one step since they are never downleveled.
-      // They are shared between ES2015 & ES5 outputs so must support ES5.
-      new TerserPlugin({ terserOptions: es5TerserOptions })
-    );
-  }
-
   return {
     mode:
       scriptsOptimization || stylesOptimization ? 'production' : 'development',
diff --git a/scripts/depcheck/missing.ts b/scripts/depcheck/missing.ts
index cf13f4b4e0..9e9868a5ca 100644
--- a/scripts/depcheck/missing.ts
+++ b/scripts/depcheck/missing.ts
@@ -90,7 +90,10 @@ const IGNORE_MATCHES = {
     '@angular-devkit/architect',
   ],
   web: [
-    '@swc/core', // we don't want to bloat the install of @nrwl/web by including @swc/core as a dependency.
+    // we don't want to bloat the install of @nrwl/web by including @swc/core and swc-loader as a dependency.
+    '@swc/core',
+    'swc-loader',
+
     'fibers',
     'node-sass',
   ],