diff --git a/docs/source/design/clis.rst b/docs/source/design/clis.rst
index 938ffa474a..79674258fa 100644
--- a/docs/source/design/clis.rst
+++ b/docs/source/design/clis.rst
@@ -49,6 +49,10 @@ Suppose you execute a script that defines 10 tasks and a workflow that calls onl
 
 It is considered fast registration because when a script is executed using ``pyflyte run``, the script is bundled up and uploaded to FlyteAdmin. When the task is executed in the backend, this zipped file is extracted and used.
 
+.. note ::
+
+   If `pigz <https://zlib.net/pigz/>`_ is installed, it will be leveraged by ``pyflyte`` to accelerate the compression of the code tarball.
+
 .. _pyflyte-register:
 
 What is ``pyflyte register``?
diff --git a/flytekit/tools/fast_registration.py b/flytekit/tools/fast_registration.py
index a65d24a740..dc3f25bf28 100644
--- a/flytekit/tools/fast_registration.py
+++ b/flytekit/tools/fast_registration.py
@@ -5,10 +5,12 @@
 import os
 import pathlib
 import posixpath
+import shutil
 import subprocess
 import sys
 import tarfile
 import tempfile
+import time
 import typing
 from dataclasses import dataclass
 from enum import Enum
@@ -75,6 +77,26 @@ def print_ls_tree(source: os.PathLike, ls: typing.List[str]):
     rich_print(tree_root)
 
 
+def compress_tarball(source: os.PathLike, output: os.PathLike) -> None:
+    """Compress code tarball using pigz if available, otherwise gzip"""
+    if pigz := shutil.which("pigz"):
+        with open(output, "wb") as gzipped:
+            subprocess.run([pigz, "-c", source], stdout=gzipped, check=True)
+    else:
+        start_time = time.time()
+        with gzip.GzipFile(filename=output, mode="wb", mtime=0) as gzipped:
+            with open(source, "rb") as source_file:
+                gzipped.write(source_file.read())
+
+        end_time = time.time()
+        warning_time = 10
+        if end_time - start_time > warning_time:
+            click.secho(
+                f"Code tarball compression took {end_time - start_time:.0f} seconds. Consider installing `pigz` for faster compression.",
+                fg="yellow",
+            )
+
+
 def fast_package(
     source: os.PathLike,
     output_dir: os.PathLike,
@@ -139,9 +161,7 @@ def fast_package(
                         filter=lambda x: tar_strip_file_attributes(x),
                     )
 
-            with gzip.GzipFile(filename=archive_fname, mode="wb", mtime=0) as gzipped:
-                with open(tar_path, "rb") as tar_file:
-                    gzipped.write(tar_file.read())
+            compress_tarball(tar_path, archive_fname)
 
     # Original tar command - This condition to be removed in the future.
     else:
@@ -164,9 +184,7 @@ def fast_package(
                     )
                 # tar.list(verbose=True)
 
-            with gzip.GzipFile(filename=archive_fname, mode="wb", mtime=0) as gzipped:
-                with open(tar_path, "rb") as tar_file:
-                    gzipped.write(tar_file.read())
+            compress_tarball(tar_path, archive_fname)
 
     return archive_fname