diff --git a/Makefile b/Makefile
index d60a14b587..e1280cbbcf 100644
--- a/Makefile
+++ b/Makefile
@@ -406,8 +406,10 @@ ALL-y += $(obj)u-boot.srec $(obj)u-boot.bin $(obj)System.map
 ALL-$(CONFIG_NAND_U_BOOT) += $(obj)u-boot-nand.bin
 ALL-$(CONFIG_ONENAND_U_BOOT) += $(obj)u-boot-onenand.bin
 ALL-$(CONFIG_SPL) += $(obj)spl/u-boot-spl.bin
-ALL-$(CONFIG_SPL) += $(obj)$(subst ",,$(CONFIG_SPL_TARGET))
 ALL-$(CONFIG_OF_SEPARATE) += $(obj)u-boot.dtb $(obj)u-boot-dtb.bin
+ifneq ($(CONFIG_SPL_TARGET),)
+ALL-$(CONFIG_SPL) += $(obj)$(subst ",,$(CONFIG_SPL_TARGET))
+endif
 
 # enable combined SPL/u-boot/dtb rules for tegra
 ifneq ($(CONFIG_TEGRA),)