diff --git a/doc/CHANGELOG.md b/doc/CHANGELOG.md
index 632a1b8..4c114b2 100644
--- a/doc/CHANGELOG.md
+++ b/doc/CHANGELOG.md
@@ -11,6 +11,7 @@ Each change falls into one of the following categories: Added, Changed, Deprecat
 
 ### Deprecated
  - Deprecated context flags `SECP256K1_CONTEXT_VERIFY` and `SECP256K1_CONTEXT_SIGN`. Use `SECP256K1_CONTEXT_NONE` instead.
+ - Renamed `secp256k1_context_no_precomp` to `secp256k1_context_static`.
 
 ## [MAJOR.MINOR.PATCH] - YYYY-MM-DD
 
diff --git a/include/secp256k1.h b/include/secp256k1.h
index 0ed2fda..778d652 100644
--- a/include/secp256k1.h
+++ b/include/secp256k1.h
@@ -222,13 +222,17 @@ typedef int (*secp256k1_nonce_function)(
  *  it is mentioned in its documentation. See secp256k1_context_create if you need a
  *  full context object that supports all functionality offered by the library.
  */
-SECP256K1_API extern const secp256k1_context *secp256k1_context_no_precomp;
+SECP256K1_API extern const secp256k1_context *secp256k1_context_static;
+
+/** Deprecated alias for secp256k1_context_static. */
+SECP256K1_API extern const secp256k1_context *secp256k1_context_no_precomp
+SECP256K1_DEPRECATED("Use secp256k1_context_static instead");
 
 /** Create a secp256k1 context object (in dynamically allocated memory).
  *
  *  This function uses malloc to allocate memory. It is guaranteed that malloc is
  *  called at most once for every call of this function. If you need to avoid dynamic
- *  memory allocation entirely, see secp256k1_context_no_precomp and the functions in
+ *  memory allocation entirely, see secp256k1_context_static and the functions in
  *  secp256k1_preallocated.h.
  *
  *  Returns: a newly created context object.
diff --git a/src/secp256k1.c b/src/secp256k1.c
index 05daad2..5a201d9 100644
--- a/src/secp256k1.c
+++ b/src/secp256k1.c
@@ -64,13 +64,14 @@ struct secp256k1_context_struct {
     int declassify;
 };
 
-static const secp256k1_context secp256k1_context_no_precomp_ = {
+static const secp256k1_context secp256k1_context_static_ = {
     { 0 },
     { secp256k1_default_illegal_callback_fn, 0 },
     { secp256k1_default_error_callback_fn, 0 },
     0
 };
-const secp256k1_context *secp256k1_context_no_precomp = &secp256k1_context_no_precomp_;
+const secp256k1_context *secp256k1_context_static = &secp256k1_context_static_;
+const secp256k1_context *secp256k1_context_no_precomp = &secp256k1_context_static_;
 
 size_t secp256k1_context_preallocated_size(unsigned int flags) {
     size_t ret = sizeof(secp256k1_context);
@@ -150,7 +151,7 @@ secp256k1_context* secp256k1_context_clone(const secp256k1_context* ctx) {
 }
 
 void secp256k1_context_preallocated_destroy(secp256k1_context* ctx) {
-    ARG_CHECK_NO_RETURN(ctx != secp256k1_context_no_precomp);
+    ARG_CHECK_NO_RETURN(ctx != secp256k1_context_static);
     if (ctx != NULL) {
         secp256k1_ecmult_gen_context_clear(&ctx->ecmult_gen_ctx);
     }
@@ -164,7 +165,7 @@ void secp256k1_context_destroy(secp256k1_context* ctx) {
 }
 
 void secp256k1_context_set_illegal_callback(secp256k1_context* ctx, void (*fun)(const char* message, void* data), const void* data) {
-    ARG_CHECK_NO_RETURN(ctx != secp256k1_context_no_precomp);
+    ARG_CHECK_NO_RETURN(ctx != secp256k1_context_static);
     if (fun == NULL) {
         fun = secp256k1_default_illegal_callback_fn;
     }
@@ -173,7 +174,7 @@ void secp256k1_context_set_illegal_callback(secp256k1_context* ctx, void (*fun)(
 }
 
 void secp256k1_context_set_error_callback(secp256k1_context* ctx, void (*fun)(const char* message, void* data), const void* data) {
-    ARG_CHECK_NO_RETURN(ctx != secp256k1_context_no_precomp);
+    ARG_CHECK_NO_RETURN(ctx != secp256k1_context_static);
     if (fun == NULL) {
         fun = secp256k1_default_error_callback_fn;
     }
diff --git a/src/tests.c b/src/tests.c
index 6d61dc8..52497b5 100644
--- a/src/tests.c
+++ b/src/tests.c
@@ -164,6 +164,9 @@ void run_context_tests(int use_prealloc) {
     secp256k1_scalar msg, key, nonce;
     secp256k1_scalar sigr, sigs;
 
+    /* Check that deprecated secp256k1_context_no_precomp is an alias to secp256k1_context_static. */
+    CHECK(secp256k1_context_no_precomp == secp256k1_context_static);
+
     if (use_prealloc) {
         none_prealloc = malloc(secp256k1_context_preallocated_size(SECP256K1_CONTEXT_NONE));
         sign_prealloc = malloc(secp256k1_context_preallocated_size(SECP256K1_CONTEXT_SIGN));