diff --git a/CMakeLists.txt b/cpp/CMakeLists.txt
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -615,7 +615,7 @@ endif(UNIX)
 set(ARROW_LINK_LIBS)
 
 # Libraries to link statically with libarrow.so
-set(ARROW_STATIC_LINK_LIBS double-conversion)
+set(ARROW_STATIC_LINK_LIBS ${DOUBLE_CONVERSION_TARGET})
 
 if (ARROW_WITH_BROTLI)
   SET(ARROW_STATIC_LINK_LIBS
@@ -694,7 +694,7 @@ else ()
   set(ARROW_MIN_TEST_LIBS
     arrow_shared
     ${ARROW_LINK_LIBS}
-    double-conversion
+    ${DOUBLE_CONVERSION_TARGET}
     ${BOOST_SYSTEM_LIBRARY}
     ${BOOST_FILESYSTEM_LIBRARY}
     ${BOOST_REGEX_LIBRARY}
diff --git a/cmake_modules/ThirdpartyToolchain.cmake b/cpp/cmake_modules/ThirdpartyToolchain.cmake
--- a/cmake_modules/ThirdpartyToolchain.cmake
+++ b/cmake_modules/ThirdpartyToolchain.cmake
@@ -469,14 +469,16 @@ if("${DOUBLE_CONVERSION_HOME}" STREQUAL "")
   set(DOUBLE_CONVERSION_VENDORED 1)
 else()
   find_package(double-conversion REQUIRED)
+  set(DOUBLE_CONVERSION_TARGET double-conversion::double-conversion)
   set(DOUBLE_CONVERSION_VENDORED 0)
 endif()
 
 include_directories(SYSTEM ${DOUBLE_CONVERSION_INCLUDE_DIR})
-ADD_THIRDPARTY_LIB(double-conversion
-  STATIC_LIB ${DOUBLE_CONVERSION_STATIC_LIB})
 
 if (DOUBLE_CONVERSION_VENDORED)
+  ADD_THIRDPARTY_LIB(double-conversion
+    STATIC_LIB ${DOUBLE_CONVERSION_STATIC_LIB})
+  set(DOUBLE_CONVERSION_TARGET double-conversion)
   add_dependencies(arrow_dependencies double-conversion_ep)
 endif()