diff --git a/changelogs/fragments/version-libyaml-git.yml b/changelogs/fragments/version-libyaml-git.yml
new file mode 100644
index 00000000000..51e843bc45c
--- /dev/null
+++ b/changelogs/fragments/version-libyaml-git.yml
@@ -0,0 +1,4 @@
+minor_changes:
+- CLI - Specify whether PyYAML includes libyaml support in version output
+bugfixes:
+- CLI - Restore git information in version output when running from source
diff --git a/lib/ansible/cli/arguments/option_helpers.py b/lib/ansible/cli/arguments/option_helpers.py
index 021fcb872e6..2e39fd6536a 100644
--- a/lib/ansible/cli/arguments/option_helpers.py
+++ b/lib/ansible/cli/arguments/option_helpers.py
@@ -13,6 +13,12 @@ import sys
 import time
 import yaml
 
+try:
+    import _yaml
+    HAS_LIBYAML = True
+except ImportError:
+    HAS_LIBYAML = False
+
 import ansible
 from ansible import constants as C
 from ansible.module_utils._text import to_native
@@ -141,47 +147,33 @@ def _git_repo_info(repo_path):
 
 
 def _gitinfo():
-    basedir = os.path.join(os.path.dirname(__file__), '..', '..', '..')
+    basedir = os.path.normpath(os.path.join(os.path.dirname(__file__), '..', '..', '..', '..'))
     repo_path = os.path.join(basedir, '.git')
-    result = _git_repo_info(repo_path)
-    submodules = os.path.join(basedir, '.gitmodules')
-
-    if not os.path.exists(submodules):
-        return result
-
-    with open(submodules) as f:
-        for line in f:
-            tokens = line.strip().split(' ')
-            if tokens[0] == 'path':
-                submodule_path = tokens[2]
-                submodule_info = _git_repo_info(os.path.join(basedir, submodule_path, '.git'))
-                if not submodule_info:
-                    submodule_info = ' not found - use git submodule update --init ' + submodule_path
-                result += "\n  {0}: {1}".format(submodule_path, submodule_info)
-    return result
+    return _git_repo_info(repo_path)
 
 
 def version(prog=None):
     """ return ansible version """
     if prog:
-        result = " ".join((prog, __version__))
+        result = [" ".join((prog, __version__))]
     else:
-        result = __version__
+        result = [__version__]
 
     gitinfo = _gitinfo()
     if gitinfo:
-        result = result + " {0}".format(gitinfo)
-    result += "\n  config file = %s" % C.CONFIG_FILE
+        result[0] = "{0} {1}".format(result[0], gitinfo)
+    result.append("  config file = %s" % C.CONFIG_FILE)
     if C.DEFAULT_MODULE_PATH is None:
         cpath = "Default w/o overrides"
     else:
         cpath = C.DEFAULT_MODULE_PATH
-    result = result + "\n  configured module search path = %s" % cpath
-    result = result + "\n  ansible python module location = %s" % ':'.join(ansible.__path__)
-    result = result + "\n  ansible collection location = %s" % ':'.join(C.COLLECTIONS_PATHS)
-    result = result + "\n  executable location = %s" % sys.argv[0]
-    result = result + "\n  python version = %s" % ''.join(sys.version.splitlines())
-    return result
+    result.append("  configured module search path = %s" % cpath)
+    result.append("  ansible python module location = %s" % ':'.join(ansible.__path__))
+    result.append("  ansible collection location = %s" % ':'.join(C.COLLECTIONS_PATHS))
+    result.append("  executable location = %s" % sys.argv[0])
+    result.append("  python version = %s" % ''.join(sys.version.splitlines()))
+    result.append("  libyaml = %s" % HAS_LIBYAML)
+    return "\n".join(result)
 
 
 #
diff --git a/test/units/cli/test_adhoc.py b/test/units/cli/test_adhoc.py
index b660993bff1..2697e8a41f6 100644
--- a/test/units/cli/test_adhoc.py
+++ b/test/units/cli/test_adhoc.py
@@ -104,7 +104,7 @@ def test_ansible_version(capsys, mocker):
         # Python 2.6 does return a named tuple, so get the first item
         version_lines = version[0].splitlines()
 
-    assert len(version_lines) == 7, 'Incorrect number of lines in "ansible --version" output'
+    assert len(version_lines) == 8, 'Incorrect number of lines in "ansible --version" output'
     assert re.match('ansible [0-9.a-z]+$', version_lines[0]), 'Incorrect ansible version line in "ansible --version" output'
     assert re.match('  config file = .*$', version_lines[1]), 'Incorrect config file line in "ansible --version" output'
     assert re.match('  configured module search path = .*$', version_lines[2]), 'Incorrect module search path in "ansible --version" output'
@@ -112,3 +112,4 @@ def test_ansible_version(capsys, mocker):
     assert re.match('  ansible collection location = .*$', version_lines[4]), 'Incorrect collection location in "ansible --version" output'
     assert re.match('  executable location = .*$', version_lines[5]), 'Incorrect executable locaction in "ansible --version" output'
     assert re.match('  python version = .*$', version_lines[6]), 'Incorrect python version in "ansible --version" output'
+    assert re.match('  libyaml = .*$', version_lines[7]), 'Missing libyaml in "ansible --version" output'