diff --git a/CHANGES b/CHANGES
index 9c9596fcc..eb75defe4 100644
--- a/CHANGES
+++ b/CHANGES
@@ -29,6 +29,7 @@ Features added
 * #6316, #10804: Add domain objects to the table of contents. Patch by Adam Turner
 * #6692: HTML Search: Include explicit :rst:dir:`index` directive index entries
   in the search index and search results. Patch by Adam Turner
+* #10816: imgmath: Allow embedding images in HTML as base64
 
 Bugs fixed
 ----------
diff --git a/doc/usage/extensions/math.rst b/doc/usage/extensions/math.rst
index 626306089..9ce3efe4f 100644
--- a/doc/usage/extensions/math.rst
+++ b/doc/usage/extensions/math.rst
@@ -133,6 +133,12 @@ are built:
    elements (cf the `dvisvgm FAQ`_). This option is used only when
    ``imgmath_image_format`` is ``'svg'``.
 
+.. confval:: imgmath_embed
+
+   Default: ``False``.  If true, encode LaTeX output images within HTML files
+   (base64 encoded) and do not save separate png/svg files to disk.
+
+   .. versionadded:: 5.2
 
 :mod:`sphinx.ext.mathjax` -- Render math via JavaScript
 -------------------------------------------------------
diff --git a/sphinx/ext/imgmath.py b/sphinx/ext/imgmath.py
index f0096ff2c..5bfca8d4d 100644
--- a/sphinx/ext/imgmath.py
+++ b/sphinx/ext/imgmath.py
@@ -1,5 +1,6 @@
 """Render math in HTML via dvipng or dvisvgm."""
 
+import base64
 import posixpath
 import re
 import shutil
@@ -30,6 +31,8 @@ logger = logging.getLogger(__name__)
 
 templates_path = path.join(package_dir, 'templates', 'imgmath')
 
+__all__ = ()
+
 
 class MathExtError(SphinxError):
     category = 'Math extension error'
@@ -204,13 +207,17 @@ def convert_dvi_to_svg(dvipath: str, builder: Builder) -> Tuple[str, Optional[in
     return filename, depth
 
 
-def render_math(self: HTMLTranslator, math: str) -> Tuple[Optional[str], Optional[int]]:
+def render_math(
+    self: HTMLTranslator,
+    math: str,
+) -> Tuple[Optional[str], Optional[int], Optional[str], Optional[str]]:
     """Render the LaTeX math expression *math* using latex and dvipng or
     dvisvgm.
 
     Return the filename relative to the built document and the "depth",
     that is, the distance of image bottom and baseline in pixels, if the
     option to use preview_latex is switched on.
+    Also return the temporary and destination files.
 
     Error handling may seem strange, but follows a pattern: if LaTeX or dvipng
     (dvisvgm) aren't available, only a warning is generated (since that enables
@@ -235,19 +242,19 @@ def render_math(self: HTMLTranslator, math: str) -> Tuple[Optional[str], Optiona
             depth = read_png_depth(outfn)
         elif image_format == 'svg':
             depth = read_svg_depth(outfn)
-        return relfn, depth
+        return relfn, depth, None, outfn
 
     # if latex or dvipng (dvisvgm) has failed once, don't bother to try again
     if hasattr(self.builder, '_imgmath_warned_latex') or \
        hasattr(self.builder, '_imgmath_warned_image_translator'):
-        return None, None
+        return None, None, None, None
 
     # .tex -> .dvi
     try:
         dvipath = compile_math(latex, self.builder)
     except InvokeError:
         self.builder._imgmath_warned_latex = True  # type: ignore
-        return None, None
+        return None, None, None, None
 
     # .dvi -> .png/.svg
     try:
@@ -257,13 +264,19 @@ def render_math(self: HTMLTranslator, math: str) -> Tuple[Optional[str], Optiona
             imgpath, depth = convert_dvi_to_svg(dvipath, self.builder)
     except InvokeError:
         self.builder._imgmath_warned_image_translator = True  # type: ignore
-        return None, None
+        return None, None, None, None
 
-    # Move generated image on tempdir to build dir
-    ensuredir(path.dirname(outfn))
-    shutil.move(imgpath, outfn)
+    return relfn, depth, imgpath, outfn
 
-    return relfn, depth
+
+def render_maths_to_base64(image_format: str, outfn: Optional[str]) -> str:
+    with open(outfn, "rb") as f:
+        encoded = base64.b64encode(f.read()).decode(encoding='utf-8')
+    if image_format == 'png':
+        return f'data:image/png;base64,{encoded}'
+    if image_format == 'svg':
+        return f'data:image/svg+xml;base64,{encoded}'
+    raise MathExtError('imgmath_image_format must be either "png" or "svg"')
 
 
 def cleanup_tempdir(app: Sphinx, exc: Exception) -> None:
@@ -285,7 +298,7 @@ def get_tooltip(self: HTMLTranslator, node: Element) -> str:
 
 def html_visit_math(self: HTMLTranslator, node: nodes.math) -> None:
     try:
-        fname, depth = render_math(self, '$' + node.astext() + '$')
+        fname, depth, imgpath, outfn = render_math(self, '$' + node.astext() + '$')
     except MathExtError as exc:
         msg = str(exc)
         sm = nodes.system_message(msg, type='WARNING', level=2,
@@ -293,14 +306,23 @@ def html_visit_math(self: HTMLTranslator, node: nodes.math) -> None:
         sm.walkabout(self)
         logger.warning(__('display latex %r: %s'), node.astext(), msg)
         raise nodes.SkipNode from exc
-    if fname is None:
+    if self.builder.config.imgmath_embed:
+        image_format = self.builder.config.imgmath_image_format.lower()
+        img_src = render_maths_to_base64(image_format, outfn)
+    else:
+        # Move generated image on tempdir to build dir
+        if imgpath is not None:
+            ensuredir(path.dirname(outfn))
+            shutil.move(imgpath, outfn)
+        img_src = fname
+    if img_src is None:
         # something failed -- use text-only as a bad substitute
         self.body.append('<span class="math">%s</span>' %
                          self.encode(node.astext()).strip())
     else:
-        c = ('<img class="math" src="%s"' % fname) + get_tooltip(self, node)
+        c = f'<img class="math" src="{img_src}"' + get_tooltip(self, node)
         if depth is not None:
-            c += ' style="vertical-align: %dpx"' % (-depth)
+            c += f' style="vertical-align: {-depth:d}px"'
         self.body.append(c + '/>')
     raise nodes.SkipNode
 
@@ -311,7 +333,7 @@ def html_visit_displaymath(self: HTMLTranslator, node: nodes.math_block) -> None
     else:
         latex = wrap_displaymath(node.astext(), None, False)
     try:
-        fname, depth = render_math(self, latex)
+        fname, depth, imgpath, outfn = render_math(self, latex)
     except MathExtError as exc:
         msg = str(exc)
         sm = nodes.system_message(msg, type='WARNING', level=2,
@@ -326,12 +348,21 @@ def html_visit_displaymath(self: HTMLTranslator, node: nodes.math_block) -> None
         self.body.append('<span class="eqno">(%s)' % number)
         self.add_permalink_ref(node, _('Permalink to this equation'))
         self.body.append('</span>')
-    if fname is None:
+    if self.builder.config.imgmath_embed:
+        image_format = self.builder.config.imgmath_image_format.lower()
+        img_src = render_maths_to_base64(image_format, outfn)
+    else:
+        # Move generated image on tempdir to build dir
+        if imgpath is not None:
+            ensuredir(path.dirname(outfn))
+            shutil.move(imgpath, outfn)
+        img_src = fname
+    if img_src is None:
         # something failed -- use text-only as a bad substitute
         self.body.append('<span class="math">%s</span></p>\n</div>' %
                          self.encode(node.astext()).strip())
     else:
-        self.body.append(('<img src="%s"' % fname) + get_tooltip(self, node) +
+        self.body.append(f'<img src="{img_src}"' + get_tooltip(self, node) +
                          '/></p>\n</div>')
     raise nodes.SkipNode
 
@@ -354,5 +385,6 @@ def setup(app: Sphinx) -> Dict[str, Any]:
     app.add_config_value('imgmath_latex_preamble', '', 'html')
     app.add_config_value('imgmath_add_tooltips', True, 'html')
     app.add_config_value('imgmath_font_size', 12, 'html')
+    app.add_config_value('imgmath_embed', False, 'html', [bool])
     app.connect('build-finished', cleanup_tempdir)
     return {'version': sphinx.__display_version__, 'parallel_read_safe': True}
diff --git a/tests/test_ext_math.py b/tests/test_ext_math.py
index 4e9cb3aa6..7b11ea3be 100644
--- a/tests/test_ext_math.py
+++ b/tests/test_ext_math.py
@@ -56,6 +56,24 @@ def test_imgmath_svg(app, status, warning):
     assert re.search(html, content, re.S)
 
 
+@pytest.mark.skipif(not has_binary('dvisvgm'),
+                    reason='Requires dvisvgm" binary')
+@pytest.mark.sphinx('html', testroot='ext-math-simple',
+                    confoverrides={'extensions': ['sphinx.ext.imgmath'],
+                                   'imgmath_image_format': 'svg',
+                                   'imgmath_embed': True})
+def test_imgmath_svg_embed(app, status, warning):
+    app.builder.build_all()
+    if "LaTeX command 'latex' cannot be run" in warning.getvalue():
+        pytest.skip('LaTeX command "latex" is not available')
+    if "dvisvgm command 'dvisvgm' cannot be run" in warning.getvalue():
+        pytest.skip('dvisvgm command "dvisvgm" is not available')
+
+    content = (app.outdir / 'index.html').read_text(encoding='utf8')
+    html = r'<img src="data:image/svg\+xml;base64,[\w\+/=]+"'
+    assert re.search(html, content, re.DOTALL)
+
+
 @pytest.mark.sphinx('html', testroot='ext-math',
                     confoverrides={'extensions': ['sphinx.ext.mathjax'],
                                    'mathjax_options': {'integrity': 'sha384-0123456789'}})