diff --git a/pkgs/development/libraries/libwebp/default.nix b/pkgs/development/libraries/libwebp/default.nix
index 3d52fa3ac9df..ce8a58be7f40 100644
--- a/pkgs/development/libraries/libwebp/default.nix
+++ b/pkgs/development/libraries/libwebp/default.nix
@@ -1,26 +1,67 @@
-{ stdenv, fetchurl, libpng, libjpeg, giflib, libtiff }:
+{ stdenv, fetchurl
+, threadingSupport ? true # multi-threading
+, openglSupport ? false, freeglut ? null, mesa ? null # OpenGL (required for vwebp)
+, pngSupport ? true, libpng ? null # PNG image format
+, jpegSupport ? true, libjpeg ? null # JPEG image format
+, tiffSupport ? true, libtiff ? null # TIFF image format
+, gifSupport ? true, giflib ? null # GIF image format
+#, wicSupport ? true # Windows Imaging Component
+, alignedSupport ? false # Force aligned memory operations
+, swap16bitcspSupport ? false # Byte swap for 16bit color spaces
+, experimentalSupport ? false # Experimental code
+, libwebpmuxSupport ? true # Build libwebpmux
+, libwebpdemuxSupport ? true # Build libwebpdemux
+, libwebpdecoderSupport ? true # Build libwebpdecoder
+}:
 
+assert openglSupport -> ((freeglut != null) && (mesa != null));
+assert pngSupport -> (libpng != null);
+assert jpegSupport -> (libjpeg != null);
+assert tiffSupport -> (libtiff != null);
+assert gifSupport -> (giflib != null);
+
+let
+  mkFlag = optSet: flag: if optSet then "--enable-${flag}" else "--disable-${flag}";
+in
+
+with stdenv.lib;
 stdenv.mkDerivation rec {
-  name = "libwebp-0.4.1";
+  name = "libwebp-${version}";
+  version = "0.4.2";
 
   src = fetchurl {
     url = "http://downloads.webmproject.org/releases/webp/${name}.tar.gz";
-    sha256 = "09yhfhb90hlhr0vq8ajnpk9rxvmb1bkiywcqm7xahl35yvk4ddh0";
+    sha256 = "0bbjl5spgq7jq7ms5q0scxg5hmg4dd386syb3di4jzggqbbjbn0l";
   };
 
-  buildInputs = [ libpng libjpeg giflib libtiff ];
-
   configureFlags = [
-    "--enable-libwebpmux"
-    "--enable-libwebpdemux"
-    "--enable-libwebpdecoder"
+    (mkFlag threadingSupport "threading")
+    (mkFlag openglSupport "gl")
+    (mkFlag pngSupport "png")
+    (mkFlag jpegSupport "jpeg")
+    (mkFlag tiffSupport "tiff")
+    (mkFlag gifSupport "gif")
+    #(mkFlag (wicSupport && stdenv.isCygwin) "wic")
+    (mkFlag alignedSupport "aligned")
+    (mkFlag swap16bitcspSupport "swap-16bit-csp")
+    (mkFlag experimentalSupport "experimental")
+    (mkFlag libwebpmuxSupport "libwebpmux")
+    (mkFlag libwebpdemuxSupport "libwebpdemux")
+    (mkFlag libwebpdecoderSupport "libwebpdecoder")
   ];
 
-  meta = {
-    homepage = http://code.google.com/p/webp/;
-    description = "Tools and library for the WebP image format";
+  buildInputs = [ ]
+    ++ optionals openglSupport [ freeglut mesa ]
+    ++ optional pngSupport libpng
+    ++ optional jpegSupport libjpeg
+    ++ optional tiffSupport libtiff
+    ++ optional gifSupport giflib;
 
-    /* It has its own licence, google-related, but that looks like BSD */
-    license = stdenv.lib.licenses.free;
+  meta = {
+    description = "Tools and library for the WebP image format";
+    homepage = https://developers.google.com/speed/webp/;
+    license = licenses.bsd3;
+    platforms = platforms.all;
+    maintainers = with maintainers; [ codyopel ];
   };
 }