diff --git a/bindings/python/src/session.cpp b/bindings/python/src/session.cpp
index 3aca92eb7..9e330c102 100644
--- a/bindings/python/src/session.cpp
+++ b/bindings/python/src/session.cpp
@@ -135,7 +135,26 @@ namespace
 		return boost::make_shared<lt::session>(p, flags);
 	}
 
-	void session_set_settings(lt::session& ses, dict const& sett_dict)
+#ifndef TORRENT_NO_DEPRECATE
+	void session_set_settings(lt::session& ses, object const& sett)
+	{
+		extract<session_settings> old_settings(sett);
+		if (old_settings.check())
+		{
+			allow_threading_guard guard;
+			ses.set_settings(old_settings);
+		}
+		else
+		{
+			settings_pack p;
+			make_settings_pack(p, extract<dict>(sett));
+			allow_threading_guard guard;
+			ses.apply_settings(p);
+		}
+	}
+#endif
+
+	void session_apply_settings(lt::session& ses, dict const& sett_dict)
 	{
 		settings_pack p;
 		make_settings_pack(p, sett_dict);
@@ -782,14 +801,11 @@ void bind_session()
 #ifndef TORRENT_NO_DEPRECATE
         .def("add_feed", &add_feed)
         .def("status", allow_threads(&lt::session::status))
-        .def("set_settings", &lt::session::set_settings)
-        .def("settings", &lt::session::settings)
-        .def("get_settings", &session_get_settings)
-#else
         .def("settings", &session_get_settings)
-        .def("get_settings", &session_get_settings)
+        .def("set_settings", &session_set_settings)
 #endif
-        .def("apply_settings", &session_set_settings)
+        .def("get_settings", &session_get_settings)
+        .def("apply_settings", &session_apply_settings)
 #ifndef TORRENT_NO_DEPRECATE
 #ifndef TORRENT_DISABLE_ENCRYPTION
         .def("set_pe_settings", allow_threads(&lt::session::set_pe_settings))
@@ -803,7 +819,7 @@ void bind_session()
 #ifdef TORRENT_NO_DEPRECATE
             , return_internal_reference<>()
 #endif
-			)
+        )
         .def("add_extension", &add_extension)
 #ifndef TORRENT_NO_DEPRECATE
         .def("pop_alert", &pop_alert)
diff --git a/bindings/python/test.py b/bindings/python/test.py
index 4b2677810..5317ccc50 100644
--- a/bindings/python/test.py
+++ b/bindings/python/test.py
@@ -104,6 +104,23 @@ class test_session(unittest.TestCase):
 		self.assertTrue(isinstance(a.values, dict))
 		self.assertTrue(len(a.values) > 0)
 
+	def test_deprecated_settings(self):
+
+		# this detects whether libtorrent was built with deprecated APIs
+		if hasattr(lt, 'version'):
+			s = lt.session({})
+			sett = lt.session_settings()
+			sett.num_want = 10;
+			s.set_settings(sett)
+			s.set_settings({'num_want': 33})
+			self.assertEqual(s.get_settings()['num_want'], 33)
+
+	def test_apply_settings(self):
+
+		s = lt.session({})
+		s.apply_settings({'num_want': 66})
+		self.assertEqual(s.get_settings()['num_want'], 66)
+
 
 if __name__ == '__main__':
 	print(lt.__version__)