diff --git a/swh/fuse/cli.py b/swh/fuse/cli.py
--- a/swh/fuse/cli.py
+++ b/swh/fuse/cli.py
@@ -37,6 +37,7 @@
         "url": "https://archive.softwareheritage.org/api/1",
         "auth-token": None,
     },
+    "sharding": {"depth": 1, "length": 2,},
 }
 
 
diff --git a/swh/fuse/fs/artifact.py b/swh/fuse/fs/artifact.py
--- a/swh/fuse/fs/artifact.py
+++ b/swh/fuse/fs/artifact.py
@@ -11,6 +11,7 @@
 from swh.fuse.fs.entry import (
     EntryMode,
     FuseDirEntry,
+    FuseDirEntryShardByHash,
     FuseEntry,
     FuseFileEntry,
     FuseSymlinkEntry,
@@ -208,13 +209,12 @@
 
     async def compute_entries(self) -> AsyncIterator[FuseEntry]:
         history = await self.fuse.get_history(self.swhid)
-        root_path = self.get_relative_root_path()
-        for swhid in history:
-            yield self.create_child(
-                FuseSymlinkEntry,
-                name=str(swhid),
-                target=Path(root_path, f"archive/{swhid}"),
-            )
+        yield self.create_child(
+            FuseDirEntryShardByHash,
+            name="by-hash",
+            mode=int(EntryMode.RDONLY_DIR),
+            swhids=history,
+        )
 
 
 @dataclass
diff --git a/swh/fuse/fs/entry.py b/swh/fuse/fs/entry.py
--- a/swh/fuse/fs/entry.py
+++ b/swh/fuse/fs/entry.py
@@ -9,7 +9,9 @@
 from enum import IntEnum
 from pathlib import Path
 from stat import S_IFDIR, S_IFLNK, S_IFREG
-from typing import Any, AsyncIterator, Sequence, Union
+from typing import Any, AsyncIterator, List, Sequence, Union
+
+from swh.model.identifiers import SWHID
 
 # Avoid cycling import
 Fuse = "Fuse"
@@ -104,6 +106,61 @@
         return None
 
 
+@dataclass
+class FuseDirEntryShardByHash(FuseDirEntry):
+    """ FUSE virtual directory entry sharded by SWHID hash """
+
+    swhids: List[SWHID]
+    prefix: str = field(default="")
+
+    def get_full_sharded_name(self, swhid: SWHID) -> str:
+        sharding = self.fuse.conf["sharding"]
+        if sharding["depth"] <= 0:
+            return str(swhid)
+        else:
+            basename = swhid.object_id
+            name, i = "", 0
+            for _ in range(sharding["depth"]):
+                name += basename[i : i + sharding["length"]]
+                name += "/"
+                i += sharding["length"]
+            # Always keep the full SWHID as the path basename (otherwise we
+            # loose the SWHID object type information)
+            name += str(swhid)
+            return name
+
+    async def compute_entries(self) -> AsyncIterator[FuseEntry]:
+        sharding_depth = self.prefix.count("/")
+        if sharding_depth == self.fuse.conf["sharding"]["depth"]:
+            root_path = self.get_relative_root_path()
+            for swhid in self.swhids:
+                yield self.create_child(
+                    FuseSymlinkEntry,
+                    name=str(swhid),
+                    target=Path(root_path, f"archive/{swhid}"),
+                )
+        else:
+            subdirs = {}
+            for swhid in self.swhids:
+                name = self.get_full_sharded_name(swhid)
+                prefix_len = len(self.prefix)
+
+                next_prefix = name[
+                    prefix_len : prefix_len + self.fuse.conf["sharding"]["length"]
+                ]
+                subdirs.setdefault(next_prefix, []).append(swhid)
+
+            # Recursive intermediate sharded directories
+            for subdir, subentries in subdirs.items():
+                yield self.create_child(
+                    FuseDirEntryShardByHash,
+                    name=subdir,
+                    mode=int(EntryMode.RDONLY_DIR),
+                    prefix=f"{self.prefix}{subdir}/",
+                    swhids=subentries,
+                )
+
+
 @dataclass
 class FuseSymlinkEntry(FuseEntry):
     """ FUSE virtual symlink entry
diff --git a/swh/fuse/fuse.py b/swh/fuse/fuse.py
--- a/swh/fuse/fuse.py
+++ b/swh/fuse/fuse.py
@@ -35,6 +35,7 @@
         self._inode2entry: Dict[int, FuseEntry] = {}
 
         self.root = Root(fuse=self)
+        self.conf = conf
 
         self.time_ns: int = time.time_ns()  # start time, used as timestamp
         self.gid = os.getgid()
diff --git a/swh/fuse/tests/test_revision.py b/swh/fuse/tests/test_revision.py
--- a/swh/fuse/tests/test_revision.py
+++ b/swh/fuse/tests/test_revision.py
@@ -8,6 +8,7 @@
     get_data_from_web_archive,
 )
 from swh.fuse.tests.data.config import REV_SMALL_HISTORY, ROOT_DIR, ROOT_REV
+from swh.model.identifiers import parse_swhid
 
 
 def test_access_meta(fuse_mntdir):
@@ -38,13 +39,18 @@
 
 
 def test_list_history(fuse_mntdir):
-    dir_path = fuse_mntdir / "archive" / REV_SMALL_HISTORY / "history"
+    dir_path = fuse_mntdir / "archive" / REV_SMALL_HISTORY / "history/by-hash"
     history_meta = get_data_from_graph_archive(
         REV_SMALL_HISTORY, GRAPH_API_REQUEST.HISTORY
     )
     history = history_meta.strip()
     # Only keep second node in the edge because first node is redundant
     # information or the root node (hence not an ancestor)
-    expected = [edge.split(" ")[1] for edge in history.split("\n")]
-    actual = os.listdir(dir_path)
-    assert set(actual) == set(expected)
+    expected = set([edge.split(" ")[1] for edge in history.split("\n")])
+
+    for swhid in expected:
+        swhid = parse_swhid(swhid)
+        depth1 = swhid.object_id[:2]
+        depth2 = str(swhid)
+        assert (dir_path / depth1).exists()
+        assert depth2 in (os.listdir(dir_path / depth1))