diff --git a/Makefile b/Makefile
index f6945a39d..3981b2193 100644
--- a/Makefile
+++ b/Makefile
@@ -36,6 +36,14 @@ build:
 test:
 	forge test -vvv --ffi
 
+install-dev: install-npm-package install-eth-abi
+
+install-npm-package:
+	npm install --save-dev
+
+install-eth-abi:
+	curl -sSL https://bootstrap.pypa.io/get-pip.py -o get-pip.py && python3 get-pip.py && rm get-pip.py && python3 -m pip install eth_abi
+
 storage:
 	npx hardhat storage-layout --update
 
diff --git a/README.md b/README.md
index 4269865c1..5359751e2 100644
--- a/README.md
+++ b/README.md
@@ -108,6 +108,8 @@ forge coverage
 
 # Development
 
+Run `make install-dev` to install all necessary dependencies for development.
+
 Before committing:
 
 ```bash