diff --git a/cpp/cmake_modules/ThirdpartyToolchain.cmake b/cpp/cmake_modules/ThirdpartyToolchain.cmake
index db151b4e0f..5127744637 100644
--- a/cpp/cmake_modules/ThirdpartyToolchain.cmake
+++ b/cpp/cmake_modules/ThirdpartyToolchain.cmake
@@ -2254,6 +2254,13 @@ if(ARROW_MIMALLOC)
       "${MIMALLOC_PREFIX}/lib/mimalloc-2.0/${CMAKE_STATIC_LIBRARY_PREFIX}${MIMALLOC_LIB_BASE_NAME}${CMAKE_STATIC_LIBRARY_SUFFIX}"
   )
 
+  if (CMAKE_POLICY_VERSION_MINIMUM)
+    set(MIMALLOC_POLICY_ARGS
+        -DCMAKE_POLICY_VERSION_MINIMUM=${CMAKE_POLICY_VERSION_MINIMUM})
+  else()
+    set(MIMALLOC_POLICY_ARGS "")
+  endif()
+
   set(MIMALLOC_CMAKE_ARGS
       ${EP_COMMON_CMAKE_ARGS}
       "-DCMAKE_INSTALL_PREFIX=${MIMALLOC_PREFIX}"
@@ -2261,7 +2268,9 @@ if(ARROW_MIMALLOC)
       -DMI_LOCAL_DYNAMIC_TLS=ON
       -DMI_BUILD_OBJECT=OFF
       -DMI_BUILD_SHARED=OFF
-      -DMI_BUILD_TESTS=OFF)
+      -DMI_BUILD_TESTS=OFF
+      ${MIMALLOC_POLICY_ARGS}
+  )
 
   externalproject_add(mimalloc_ep
                       ${EP_COMMON_OPTIONS}