diff --git a/CMakeLists.txt b/CMakeLists.txt
index a543566e8289..a65779bb4c2d 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -13,21 +13,106 @@ include(cmake/util/Util.cmake)
 include(cmake/util/MshadowUtil.cmake)
 include(cmake/util/FindCUDA.cmake)
 
-# NOTE: do not modify this file to change option values.
-# Use bash script/build_dgl.sh -e '-DOPTION=VALUE' through command-line.
-dgl_option(USE_CUDA "Build with CUDA" OFF)
-dgl_option(USE_OPENMP "Build with OpenMP" ON)
-dgl_option(USE_LIBXSMM "Build with LIBXSMM library optimization" ON)
-dgl_option(BUILD_CPP_TEST "Build cpp unittest executables" OFF)
-dgl_option(LIBCXX_ENABLE_PARALLEL_ALGORITHMS "Enable the parallel algorithms library. This requires the PSTL to be available." OFF)
-dgl_option(USE_S3 "Build with S3 support" OFF)
-dgl_option(USE_HDFS "Build with HDFS support" OFF) # Set env HADOOP_HDFS_HOME if needed
-dgl_option(REBUILD_LIBXSMM "Clean LIBXSMM build cache at every build" OFF) # Set env HADOOP_HDFS_HOME if needed
-dgl_option(USE_EPOLL "Build with epoll for socket communicator" ON)
-dgl_option(TP_BUILD_LIBUV "Build libuv together with tensorpipe (only impacts Linux)" ON)
-dgl_option(BUILD_TORCH "Build the PyTorch plugin" OFF)
-dgl_option(BUILD_SPARSE "Build DGL sparse library" ON)
-dgl_option(TORCH_PYTHON_INTERPS "Python interpreter used to build tensoradapter and DGL sparse library" python3)
+# TODO(#5475): Clean up the old flags after CI and regression framework adopt to the new setup.
+if (NOT DEFINED BUILD_TYPE)
+  dgl_option(USE_CUDA "Build with CUDA" OFF)
+  dgl_option(USE_OPENMP "Build with OpenMP" ON)
+  dgl_option(USE_LIBXSMM "Build with LIBXSMM library optimization" ON)
+  dgl_option(BUILD_CPP_TEST "Build cpp unittest executables" OFF)
+  dgl_option(LIBCXX_ENABLE_PARALLEL_ALGORITHMS "Enable the parallel algorithms library. This requires the PSTL to be available." OFF)
+  dgl_option(USE_S3 "Build with S3 support" OFF)
+  dgl_option(USE_HDFS "Build with HDFS support" OFF) # Set env HADOOP_HDFS_HOME if needed
+  dgl_option(REBUILD_LIBXSMM "Clean LIBXSMM build cache at every build" OFF) # Set env HADOOP_HDFS_HOME if needed
+  dgl_option(USE_EPOLL "Build with epoll for socket communicator" ON)
+  dgl_option(BUILD_TORCH "Build the PyTorch plugin" OFF)
+  dgl_option(BUILD_SPARSE "Build DGL sparse library" ON)
+  dgl_option(BUILD_GRAPHBOLT "Build Graphbolt library" OFF)
+  dgl_option(TORCH_PYTHON_INTERPS "Python interpreter used to build tensoradapter and DGL sparse library" python3)
+else()
+  # Options for building DGL.
+  # NOTE: do not modify this file to change option values.
+  # Use bash script/build_dgl.sh -e '-DOPTION=VALUE' through command-line.
+  dgl_option(
+      BUILD_TYPE
+      "Type of the build: dev, test or release"
+      "dev"
+  )
+  message(STATUS "Build for ${BUILD_TYPE}")
+
+  dgl_option(
+      USE_CUDA
+      "Build with CUDA"
+      OFF
+  )
+  dgl_option(
+      TORCH_PYTHON_INTERPS
+      "Python interpreter used to build tensoradapter and DGL sparse library"
+      python3
+  )
+
+  # Options for building DGL features, supported: "none", "dev", "test", "release", "all".
+  # NOTE: do not modify this file to change option values.
+  # Use bash script/build_dgl.sh -e '-DFEATURE_NAME=ON/OFF' through command-line.
+  dgl_feature_option(
+      BUILD_SPARSE
+      "Build DGL sparse library"
+      "all"
+  )
+  dgl_feature_option(
+      BUILD_TORCH
+      "Build the PyTorch plugin"
+      "all"
+  )
+  dgl_feature_option(
+      USE_EPOLL
+      "Build with epoll for socket communicator"
+      "all"
+  )
+  dgl_feature_option(
+      USE_LIBXSMM
+      "Build with LIBXSMM library optimization"
+      "all"
+  )
+  dgl_feature_option(
+      USE_OPENMP
+      "Build with OpenMP"
+      "all"
+  )
+
+  dgl_feature_option(
+      BUILD_GRAPHBOLT
+      "Build Graphbolt library"
+      "dev" "test"
+  )
+
+  dgl_feature_option(
+      LIBCXX_ENABLE_PARALLEL_ALGORITHMS
+      "Enable the parallel algorithms library. This requires the PSTL to be available."
+      "none"
+  )
+  dgl_feature_option(
+      REBUILD_LIBXSMM
+      "Clean LIBXSMM build cache at every build"
+      "none"
+  )
+  dgl_feature_option(
+      USE_HDFS
+      "Build with HDFS support"
+      "none"
+  ) # Set env HADOOP_HDFS_HOME if needed
+  dgl_feature_option(
+      USE_S3
+      "Build with S3 support"
+      "none"
+  )
+
+  # Build cpp test only in test build.
+  dgl_feature_option(
+      BUILD_CPP_TEST
+      "Build cpp unittest executables"
+      "test"
+  )
+endif()
 
 # Set debug compile option for gdb, only happens when -DCMAKE_BUILD_TYPE=DEBUG
 if (NOT MSVC)
diff --git a/cmake/util/Util.cmake b/cmake/util/Util.cmake
index c6570246f834..26c92ef5450d 100644
--- a/cmake/util/Util.cmake
+++ b/cmake/util/Util.cmake
@@ -4,6 +4,27 @@ macro(__dgl_option variable description value)
   endif()
 endmacro()
 
+#######################################################
+# An option to specify the build type for a feature.
+# Usage:
+#   dgl_feature_option(<option_variable> "doc string" "dev" "release")
+macro(dgl_feature_option variable description)
+  set(__value "")
+  foreach(arg ${ARGN})
+    if(arg STREQUAL "all")
+      __dgl_option(${variable} "${description}" ON)
+    elseif(arg STREQUAL "dev" OR arg STREQUAL "test" OR arg STREQUAL "release")
+      list(APPEND __value ${arg})
+    endif()
+  endforeach()
+
+  if(${BUILD_TYPE} IN_LIST __value)
+    __dgl_option(${variable} "${description}" ON)
+  else()
+    __dgl_option(${variable} "${description}" OFF)
+  endif()
+endmacro()
+
 #######################################################
 # An option that the user can select. Can accept condition to control when option is available for user.
 # Usage:
diff --git a/script/build_dgl.sh b/script/build_dgl.sh
index 85f156727969..b1fa375e1695 100644
--- a/script/build_dgl.sh
+++ b/script/build_dgl.sh
@@ -69,7 +69,7 @@ if [[ -z ${cuda} ]]; then
 else
   mkdir -p build
   cd build
-  cmake -DUSE_CUDA=${cuda} ${extra_args} ..
+  cmake -DBUILD_TYPE=dev -DUSE_CUDA=${cuda} ${extra_args} ..
 fi
 
 if [[ ${PWD} == "${DGL_HOME}/build" ]]; then
diff --git a/tests/README.md b/tests/README.md
index bcb87e865c6c..26f60ba581a6 100644
--- a/tests/README.md
+++ b/tests/README.md
@@ -21,9 +21,6 @@ The code organization goes as follows:
 Compile with unittest by executing the command below
 ```
 # Assume current directory is the root directory of dgl, and googletest submodule is initialized
-mkdir build
-cd build
-cmake .. -DBUILD_CPP_TEST=1
-make -j${nproc}
+bash script/build_dgl.sh -c -r -e '-DBUILD_TYPE=test'
 ./runUnitTests
 ```
diff --git a/tests/scripts/build_dgl.bat b/tests/scripts/build_dgl.bat
index 0bc4353c5fdd..ef79220b65fe 100644
--- a/tests/scripts/build_dgl.bat
+++ b/tests/scripts/build_dgl.bat
@@ -13,7 +13,7 @@ SET TEMP=%WORKSPACE%\tmp
 SET TMPDIR=%WORKSPACE%\tmp
 
 PUSHD build
-cmake -DCMAKE_CXX_FLAGS="/DDGL_EXPORTS" -DUSE_OPENMP=ON -DBUILD_TORCH=ON -Dgtest_force_shared_crt=ON -DDMLC_FORCE_SHARED_CRT=ON -DBUILD_CPP_TEST=1 -DCMAKE_CONFIGURATION_TYPES="Release" -DTORCH_PYTHON_INTERPS=python -DBUILD_SPARSE=ON .. -G "Visual Studio 16 2019" || EXIT /B 1
+cmake -DBUILD_TYPE=test -DCMAKE_CXX_FLAGS="/DDGL_EXPORTS" -Dgtest_force_shared_crt=ON -DDMLC_FORCE_SHARED_CRT=ON -DCMAKE_CONFIGURATION_TYPES="Release" -DTORCH_PYTHON_INTERPS=python .. -G "Visual Studio 16 2019" || EXIT /B 1
 msbuild dgl.sln /m /nr:false || EXIT /B 1
 COPY /Y Release\runUnitTests.exe .
 POPD
diff --git a/tests/scripts/build_dgl.sh b/tests/scripts/build_dgl.sh
index 0f894f89d298..792268f95969 100644
--- a/tests/scripts/build_dgl.sh
+++ b/tests/scripts/build_dgl.sh
@@ -7,7 +7,13 @@ if [ $# -ne 1 ]; then
     exit -1
 fi
 
-CMAKE_VARS="-DBUILD_CPP_TEST=ON -DUSE_OPENMP=ON"
+# Build for testing.
+CMAKE_VARS="-DBUILD_TYPE=test"
+
+if [[ $1 != "cpu" ]]; then
+    CMAKE_VARS="$CMAKE_VARS -DUSE_CUDA=ON"
+fi
+
 # This is a semicolon-separated list of Python interpreters containing PyTorch.
 # The value here is for CI.  Replace it with your own or comment this whole
 # statement for default Python interpreter.
@@ -15,16 +21,12 @@ if [ "$1" != "cugraph" ]; then
     # We do not build pytorch for cugraph because currently building
     # pytorch against all the supported cugraph versions is not supported
     # See issue: https://github.com/rapidsai/cudf/issues/8510
-    CMAKE_VARS="$CMAKE_VARS -DBUILD_TORCH=ON -DTORCH_PYTHON_INTERPS=/opt/conda/envs/pytorch-ci/bin/python"
+    CMAKE_VARS="$CMAKE_VARS -DTORCH_PYTHON_INTERPS=/opt/conda/envs/pytorch-ci/bin/python"
 else
     # Disable sparse build as cugraph docker image lacks cuDNN.
     CMAKE_VARS="$CMAKE_VARS -DBUILD_TORCH=OFF -DBUILD_SPARSE=OFF"
 fi
 
-if [[ $1 != "cpu" ]]; then
-    CMAKE_VARS="-DUSE_CUDA=ON $CMAKE_VARS"
-fi
-
 if [ -d build ]; then
     rm -rf build
 fi