The option is actually --no-as-needed.

loewis · loewis · commit 8ffaa1049c8e · 2011-05-09T07:42:28.000+02:00
diff --git a/Misc/NEWS b/Misc/NEWS
@@ -313,7 +313,7 @@ Library
 Build
 -----
 
-- Issue #11347: Use --as-needed when linking libpython3.so.
+- Issue #11347: Use --no-as-needed when linking libpython3.so.
 
 - Issue #11411: Fix 'make DESTDIR=' with a relative destination.
 
