diff --git a/recipes/verilator/all/conandata.yml b/recipes/verilator/all/conandata.yml
index 22a24b588992b..9ef5c43415a04 100644
--- a/recipes/verilator/all/conandata.yml
+++ b/recipes/verilator/all/conandata.yml
@@ -1,8 +1,18 @@
 sources:
+  "4.038":
+    url: "https://www.veripool.org/ftp/verilator-4.038.tgz"
+    sha256: "fa004493216034ac3e26b21b814441bd5801592f4f269c5a4672e3351d73b515"
   "4.034":
     url: "https://www.veripool.org/ftp/verilator-4.034.tgz"
     sha256: "54ed7b06ee28b5d21f9d0ee98406d29a508e6124b0d10e54bb32081613ddb80b"
 patches:
+  "4.038":
+    - patch_file: "patches/0001-split-opt-and-debug-build-install.patch"
+      base_path: "source_subfolder"
+    - patch_file: "patches/0004-msvc-patches.patch"
+      base_path: "source_subfolder"
+    - patch_file: "patches/0003-add-msvc_link-sh.patch"
+      base_path: "source_subfolder"
   "4.034":
     - patch_file: "patches/0001-split-opt-and-debug-build-install.patch"
       base_path: "source_subfolder"
diff --git a/recipes/verilator/all/conanfile.py b/recipes/verilator/all/conanfile.py
index d0891706716f4..355a8574b7b7a 100644
--- a/recipes/verilator/all/conanfile.py
+++ b/recipes/verilator/all/conanfile.py
@@ -167,10 +167,6 @@ def package_id(self):
         del self.info.settings.compiler.version
 
     def package_info(self):
-        verilator_include_root = os.path.join(self.package_folder, "share", "verilator", "include")
-
-        self.cpp_info.includedirs = [verilator_include_root]
-
         bindir = os.path.join(self.package_folder, "bin")
         self.output.info("Appending PATH environment variable: {}".format(bindir))
         self.env_info.PATH.append(bindir)
diff --git a/recipes/verilator/all/patches/0004-msvc-patches.patch b/recipes/verilator/all/patches/0004-msvc-patches.patch
new file mode 100644
index 0000000000000..a6c6779c415bb
--- /dev/null
+++ b/recipes/verilator/all/patches/0004-msvc-patches.patch
@@ -0,0 +1,88 @@
+--- src/Makefile_obj.in
++++ src/Makefile_obj.in
+@@ -95,6 +95,7 @@ LIBS = $(CFG_LIBS) -lm
+ CPPFLAGS += -MMD
+ CPPFLAGS += -I. -I$(bldsrc) -I$(srcdir) -I$(incdir) -I../../include
+ CPPFLAGS += -DYYDEBUG 	# Required to get nice error messages
++CPPFLAGS += -DNOMINMAX	# suppress the min and max definitions in Windef.h
+ #CPPFLAGS += -DVL_LEAK_CHECKS 	# If running valgrind or other hunting tool
+ CPPFLAGS += $(COPT)
+ CPPFLAGS += -MP # Only works on recent GCC versions
+@@ -278,7 +279,7 @@ V3__CONCAT.cpp: $(addsuffix .cpp, $(basename $(RAW_OBJS)))
+ 
+ $(TGT): $(PREDEP_H) $(OBJS)
+ 	@echo "      Linking $@..."
+-	${LINK} ${LDFLAGS} -o $@ $(OBJS) $(CCMALLOC) ${LIBS}
++	${LINK} ${LDFLAGS} -o $@$(EXEEXT) $(OBJS) $(CCMALLOC) ${LIBS}
+ 
+ V3Number_test: V3Number_test.o
+ 	${LINK} ${LDFLAGS} -o $@ $^ ${LIBS}
+
+--- src/V3Number.h
++++ melsrc/V3Number.h
+@@ -22,6 +22,7 @@
+ 
+ #include "V3Error.h"
+ 
++#include <algorithm>
+ #include <cmath>
+ #include <limits>
+ #include <vector>
+
+--- src/V3Os.cpp
++++ src/V3Os.cpp
+@@ -63,8 +63,8 @@ string V3Os::getenvStr(const string& envvar, const string& defaultValue) {
+ #if defined(_MSC_VER)
+     // Note: MinGW does not offer _dupenv_s
+     char* envvalue = nullptr;
+-    _dupenv_s(&envvalue, nullptr, envvar.c_str());
+-    if (envvalue != nullptr) {
++    int dupres = _dupenv_s(&envvalue, nullptr, envvar.c_str());
++    if ((dupres == 0) && (envvalue != nullptr)) {
+         const std::string result{envvalue};
+         free(envvalue);
+         return result;
+@@ -336,6 +336,9 @@ void V3Os::u_sleep(int64_t usec) {
+ int V3Os::system(const string& command) {
+     UINFO(1, "Running system: " << command << endl);
+     const int ret = ::system(command.c_str());
++#ifdef _MSC_VER
++    return ret;
++#else
+     if (VL_UNCOVERABLE(ret == -1)) {
+         v3fatal("Failed to execute command:"  // LCOV_EXCL_LINE
+                 << command << " " << strerror(errno));
+@@ -347,4 +350,5 @@ int V3Os::system(const string& command) {
+         UASSERT(exit_code >= 0, "exit code must not be negative");
+         return exit_code;
+     }
++#endif
+ }
+
+--- src/VlcTop.cpp
++++ src/VlcTop.cpp
+@@ -14,6 +14,11 @@
+ //
+ //*************************************************************************
+ 
++#if defined(_WIN32) || defined(__MINGW32__)
++#define NOMINMAX
++#include <windows.h>  
++#endif
++
+ #include "V3Error.h"
+ #include "V3Os.h"
+ #include "VlcOptions.h"
+
+--- include/verilated_imp.h
++++ include/verilated_imp.h
+@@ -29,6 +29,7 @@
+ #include "verilated_heavy.h"
+ #include "verilated_syms.h"
+ 
++#include <algorithm>
+ #include <deque>
+ #include <set>
+ #include <vector>
+
+
diff --git a/recipes/verilator/config.yml b/recipes/verilator/config.yml
index 24d2d01ce4cb9..dde09d68ec126 100644
--- a/recipes/verilator/config.yml
+++ b/recipes/verilator/config.yml
@@ -1,3 +1,5 @@
 versions:
   "4.034":
     folder: all
+  "4.038":
+    folder: all