diff --git a/cpp/cmake_modules/BuildUtils.cmake b/cpp/cmake_modules/BuildUtils.cmake
index 250aadeb33174..479b20b7a05fc 100644
--- a/cpp/cmake_modules/BuildUtils.cmake
+++ b/cpp/cmake_modules/BuildUtils.cmake
@@ -189,6 +189,7 @@ function(ADD_ARROW_LIB LIB_NAME)
       EXTRA_INCLUDES
       PRIVATE_INCLUDES
       DEPENDENCIES
+      DEFINITIONS
       SHARED_INSTALL_INTERFACE_LIBS
       STATIC_INSTALL_INTERFACE_LIBS
       OUTPUT_PATH)
@@ -247,6 +248,9 @@ function(ADD_ARROW_LIB LIB_NAME)
     if(ARG_DEPENDENCIES)
       add_dependencies(${LIB_NAME}_objlib ${ARG_DEPENDENCIES})
     endif()
+    if(ARG_DEFINITIONS)
+      target_compile_definitions(${LIB_NAME}_objlib PRIVATE ${ARG_DEFINITIONS})
+    endif()
     if(ARG_PRECOMPILED_HEADER_LIB)
       reuse_precompiled_header_lib(${LIB_NAME}_objlib ${ARG_PRECOMPILED_HEADER_LIB})
     endif()
@@ -297,6 +301,10 @@ function(ADD_ARROW_LIB LIB_NAME)
       add_dependencies(${LIB_NAME}_shared ${EXTRA_DEPS})
     endif()
 
+    if(ARG_DEFINITIONS)
+      target_compile_definitions(${LIB_NAME}_shared PRIVATE ${ARG_DEFINITIONS})
+    endif()
+
     if(ARG_PRECOMPILED_HEADER_LIB)
       reuse_precompiled_header_lib(${LIB_NAME}_shared ${ARG_PRECOMPILED_HEADER_LIB})
     endif()
@@ -387,6 +395,10 @@ function(ADD_ARROW_LIB LIB_NAME)
       add_dependencies(${LIB_NAME}_static ${EXTRA_DEPS})
     endif()
 
+    if(ARG_DEFINITIONS)
+      target_compile_definitions(${LIB_NAME}_static PRIVATE ${ARG_DEFINITIONS})
+    endif()
+
     if(ARG_PRECOMPILED_HEADER_LIB)
       reuse_precompiled_header_lib(${LIB_NAME}_static ${ARG_PRECOMPILED_HEADER_LIB})
     endif()
@@ -632,7 +644,8 @@ function(ADD_TEST_CASE REL_TEST_NAME)
       LABELS
       EXTRA_LABELS
       TEST_ARGUMENTS
-      PREFIX)
+      PREFIX
+      DEFINITIONS)
   cmake_parse_arguments(ARG
                         "${options}"
                         "${one_value_args}"
@@ -703,6 +716,10 @@ function(ADD_TEST_CASE REL_TEST_NAME)
     add_dependencies(${TEST_NAME} ${ARG_EXTRA_DEPENDENCIES})
   endif()
 
+  if(ARG_DEFINITIONS)
+    target_compile_definitions(${TEST_NAME} PRIVATE ${ARG_DEFINITIONS})
+  endif()
+
   if(ARROW_TEST_MEMCHECK AND NOT ARG_NO_VALGRIND)
     add_test(${TEST_NAME}
              bash
diff --git a/cpp/src/plasma/CMakeLists.txt b/cpp/src/plasma/CMakeLists.txt
index 7f05d5bcdc6d3..68f1c5ffa9156 100644
--- a/cpp/src/plasma/CMakeLists.txt
+++ b/cpp/src/plasma/CMakeLists.txt
@@ -83,6 +83,9 @@ add_arrow_lib(plasma
               plasma
               SOURCES
               ${PLASMA_SRCS}
+              DEFINITIONS
+              "ARROW_EXPORTING"
+              "_PLASMA_NO_DEPRECATE"
               OUTPUTS
               PLASMA_LIBRARIES
               SHARED_LINK_FLAGS
@@ -98,10 +101,6 @@ add_arrow_lib(plasma
 
 add_dependencies(plasma ${PLASMA_LIBRARIES})
 
-foreach(LIB_TARGET ${PLASMA_LIBRARIES})
-  target_compile_definitions(${LIB_TARGET} PRIVATE ARROW_EXPORTING)
-endforeach()
-
 # The optimization flag -O3 is suggested by dlmalloc.c, which is #included in
 # malloc.cc; we set it here regardless of whether we do a debug or release build.
 set_source_files_properties(dlmalloc.cc PROPERTIES COMPILE_FLAGS "-O3")
@@ -134,6 +133,7 @@ else()
   target_link_libraries(plasma-store-server plasma_shared ${PLASMA_LINK_LIBS})
 endif()
 target_link_libraries(plasma-store-server ${GFLAGS_LIBRARIES})
+target_compile_definitions(plasma-store-server PRIVATE _PLASMA_NO_DEPRECATE)
 add_dependencies(plasma plasma-store-server)
 
 if(ARROW_RPATH_ORIGIN)
@@ -190,6 +190,8 @@ function(ADD_PLASMA_TEST REL_TEST_NAME)
                 "plasma"
                 LABELS
                 "plasma-tests"
+                DEFINITIONS
+                _PLASMA_NO_DEPRECATE
                 ${ARG_UNPARSED_ARGUMENTS})
 endfunction()
 
diff --git a/cpp/src/plasma/common.h b/cpp/src/plasma/common.h
index d3193bf5c6e2e..e09737ceccdb7 100644
--- a/cpp/src/plasma/common.h
+++ b/cpp/src/plasma/common.h
@@ -36,7 +36,9 @@
 #include "arrow/gpu/cuda_api.h"
 #endif
 
+#ifndef _PLASMA_NO_DEPRECATE
 #warning "Plasma is deprecated since Arrow 10.0.0. It will be removed in 12.0.0 or so."
+#endif
 
 namespace plasma {