diff --git a/tools/Makefile b/tools/Makefile
index e267e7d45..31256ef4c 100644
--- a/tools/Makefile
+++ b/tools/Makefile
@@ -1,17 +1,26 @@
 #! /usr/bin/make
+TOOLS := tools/hsmtool tools/check-bolt
+TOOLS_SRC := $(TOOLS:=.c)
+TOOLS_OBJ := $(TOOLS_SRC:.c=.o)
+ALL_PROGRAMS += $(TOOLS)
+ALL_OBJS += $(TOOLS_OBJ)
+
+TOOLS_COMMON_OBJS = common/utils.o
 
 # We force make to relink this every time, to detect version changes.
 # Do it atomically, otherwise parallel builds can get upset!
 tools/headerversions: FORCE tools/headerversions.o $(CCAN_OBJS)
 	@trap "rm -f $@.tmp.$$$$" EXIT; $(LINK.o) tools/headerversions.o $(CCAN_OBJS) $(LOADLIBES) $(LDLIBS) -o $@.tmp.$$$$ && mv $@.tmp.$$$$ $@
 
-tools/check-bolt: tools/check-bolt.o $(CCAN_OBJS) common/utils.o
-tools/check-bolt.o: $(CCAN_HEADERS)
+tools/check-bolt: tools/check-bolt.o $(CCAN_OBJS) $(TOOLS_COMMON_OBJS)
+
+tools/hsmtool: tools/hsmtool.o $(CCAN_OBJS) $(TOOLS_COMMON_OBJS) bitcoin/privkey.o
 
 clean: tools-clean
 
 tools-clean:
 	$(RM) tools/check-bolt tools/*.o
 	$(RM) tools/headerversions
+	$(RM) $(TOOLS_OBJ) $(TOOLS)
 
 include tools/test/Makefile
diff --git a/tools/hsmtool.c b/tools/hsmtool.c
new file mode 100644
index 000000000..ac5d6d23c
--- /dev/null
+++ b/tools/hsmtool.c
@@ -0,0 +1,138 @@
+#include <bitcoin/privkey.h>
+#include <ccan/str/str.h>
+#include <ccan/err/err.h>
+#include <ccan/noerr/noerr.h>
+#include <ccan/read_write_all/read_write_all.h>
+#include <ccan/tal/path/path.h>
+#include <common/utils.h>
+#include <errno.h>
+#include <fcntl.h>
+#include <sodium.h>
+#include <sys/stat.h>
+#include <unistd.h>
+
+#define ERROR_HSM_FILE errno
+#define ERROR_USAGE 2
+#define ERROR_LIBSODIUM 3
+
+static void show_usage(void)
+{
+	printf("./hsmtool <method> [arguments]\n");
+	printf("methods:\n");
+	printf("	- decrypt <path/to/hsm_secret> <password>\n");
+	exit(0);
+}
+
+static bool ensure_hsm_secret_exists(int fd, const char *path)
+{
+	const char *config_dir = path_dirname(NULL, path);
+	if (fsync(fd) != 0) {
+		close(fd);
+		return false;
+	}
+	if (close(fd) != 0)
+		return false;
+
+	fd = open(config_dir, O_RDONLY);
+	if (fd < 0)
+		return false;
+	if (fsync(fd) != 0) {
+		close(fd);
+		return false;
+	}
+
+	close(fd);
+	tal_free(config_dir);
+	return true;
+}
+
+static int decrypt_hsm(const char *hsm_secret_path, const char *passwd)
+{
+	int fd;
+	struct stat st;
+	struct secret key, hsm_secret;
+	u8 salt[16] = "c-lightning\0\0\0\0\0";
+	crypto_secretstream_xchacha20poly1305_state crypto_state;
+	u8 header[crypto_secretstream_xchacha20poly1305_HEADERBYTES];
+	/* The cipher size is static with xchacha20poly1305. */
+	u8 cipher[sizeof(struct secret) + crypto_secretstream_xchacha20poly1305_ABYTES];
+
+	if (sodium_init() == -1)
+		err(ERROR_LIBSODIUM,
+		    "Could not initialize libsodium. Not enough entropy ?");
+
+	if (stat(hsm_secret_path, &st) != 0)
+		err(ERROR_HSM_FILE, "Could not stat hsm_secret");
+	if (st.st_size <= 32)
+		err(ERROR_USAGE, "hsm_secret is not encrypted");
+	fd = open(hsm_secret_path, O_RDONLY);
+	if (fd < 0)
+		err(ERROR_HSM_FILE, "Could not open hsm_secret");
+
+	if (!read_all(fd, header, crypto_secretstream_xchacha20poly1305_HEADERBYTES))
+		err(ERROR_HSM_FILE, "Could not read cipher header");
+	if (!read_all(fd, cipher, sizeof(cipher)))
+		err(ERROR_HSM_FILE, "Could not read cipher body");
+
+	/* Derive the encryption key from the password provided, and try to decrypt
+	 * the cipher. */
+	if (crypto_pwhash(key.data, sizeof(key.data), passwd, strlen(passwd), salt,
+	                  crypto_pwhash_argon2id_OPSLIMIT_MODERATE,
+	                  crypto_pwhash_argon2id_MEMLIMIT_MODERATE,
+	                  crypto_pwhash_ALG_ARGON2ID13) != 0)
+		err(ERROR_LIBSODIUM, "Could not derive a key from the password.");
+	if (crypto_secretstream_xchacha20poly1305_init_pull(&crypto_state, header,
+	                                                    key.data) != 0)
+		err(ERROR_LIBSODIUM, "Could not initialize the crypto state");
+	if (crypto_secretstream_xchacha20poly1305_pull(&crypto_state, hsm_secret.data,
+	                                               NULL, 0, cipher, sizeof(cipher),
+	                                               NULL, 0) != 0)
+		err(ERROR_LIBSODIUM, "Could not retrieve the seed. Wrong password ?");
+	close(fd);
+
+	/* Create a backup file, "just in case". */
+	rename(hsm_secret_path, "hsm_secret.backup");
+	fd = open(hsm_secret_path, O_CREAT|O_EXCL|O_WRONLY, 0400);
+	if (fd < 0)
+		err(ERROR_HSM_FILE, "Could not open new hsm_secret");
+
+	if (!write_all(fd, &hsm_secret, sizeof(hsm_secret))) {
+		unlink_noerr(hsm_secret_path);
+		close(fd);
+		rename("hsm_secret.backup", hsm_secret_path);
+		err(ERROR_HSM_FILE,
+		    "Failure writing plaintext seed to hsm_secret.");
+	}
+
+	/* Be as paranoïd as in hsmd with the file state on disk. */
+	if (!ensure_hsm_secret_exists(fd, hsm_secret_path)) {
+		unlink_noerr(hsm_secret_path);
+		rename("hsm_secret.backup", hsm_secret_path);
+		err(ERROR_HSM_FILE,
+		    "Could not ensure hsm_secret existence.");
+	}
+	unlink_noerr("hsm_secret.backup");
+
+	printf("Succesfully decrypted hsm_secret, be careful now :-).\n");
+	return 0;
+}
+
+int main(int argc, char *argv[])
+{
+	const char *method;
+
+	setup_locale();
+	err_set_progname(argv[0]);
+
+	method = argv[1];
+	if (!method)
+		show_usage();
+
+	if (streq(method, "decrypt")) {
+		if (!argv[2] || !argv[3])
+			show_usage();
+		return decrypt_hsm(argv[2], argv[3]);
+	}
+
+	show_usage();
+}