diff --git a/test/es-module/test-esm-loader-hooks.mjs b/test/es-module/test-esm-loader-hooks.mjs
index 7cd967189ec..ce8085bbaf9 100644
--- a/test/es-module/test-esm-loader-hooks.mjs
+++ b/test/es-module/test-esm-loader-hooks.mjs
@@ -4,7 +4,7 @@ import assert from 'node:assert';
 import { execPath } from 'node:process';
 import { describe, it } from 'node:test';
 
-describe('Loader hooks', () => {
+describe('Loader hooks', { concurrency: true }, () => {
   it('are called with all expected arguments', async () => {
     const { code, signal, stdout, stderr } = await spawnPromisified(execPath, [
       '--no-warnings',
@@ -23,4 +23,94 @@ describe('Loader hooks', () => {
     assert.match(lines[2], /{"url":"file:\/\/\/.*\/experimental\.json","format":"test","shortCircuit":true}/);
     assert.match(lines[3], /{"source":{"type":"Buffer","data":\[.*\]},"format":"json","shortCircuit":true}/);
   });
+
+  describe('should handle never-settling hooks in ESM files', { concurrency: true }, () => {
+    it('top-level await of a never-settling resolve', async () => {
+      const { code, signal, stdout, stderr } = await spawnPromisified(execPath, [
+        '--no-warnings',
+        '--experimental-loader',
+        fixtures.fileURL('es-module-loaders/never-settling-resolve-step/loader.mjs'),
+        fixtures.path('es-module-loaders/never-settling-resolve-step/never-resolve.mjs'),
+      ]);
+
+      assert.strictEqual(stderr, '');
+      assert.match(stdout, /^should be output\r?\n$/);
+      assert.strictEqual(code, 13);
+      assert.strictEqual(signal, null);
+    });
+
+    it('top-level await of a never-settling load', async () => {
+      const { code, signal, stdout, stderr } = await spawnPromisified(execPath, [
+        '--no-warnings',
+        '--experimental-loader',
+        fixtures.fileURL('es-module-loaders/never-settling-resolve-step/loader.mjs'),
+        fixtures.path('es-module-loaders/never-settling-resolve-step/never-load.mjs'),
+      ]);
+
+      assert.strictEqual(stderr, '');
+      assert.match(stdout, /^should be output\r?\n$/);
+      assert.strictEqual(code, 13);
+      assert.strictEqual(signal, null);
+    });
+
+
+    it('top-level await of a race of never-settling hooks', async () => {
+      const { code, signal, stdout, stderr } = await spawnPromisified(execPath, [
+        '--no-warnings',
+        '--experimental-loader',
+        fixtures.fileURL('es-module-loaders/never-settling-resolve-step/loader.mjs'),
+        fixtures.path('es-module-loaders/never-settling-resolve-step/race.mjs'),
+      ]);
+
+      assert.strictEqual(stderr, '');
+      assert.match(stdout, /^true\r?\n$/);
+      assert.strictEqual(code, 0);
+      assert.strictEqual(signal, null);
+    });
+  });
+
+  describe('should handle never-settling hooks in CJS files', { concurrency: true }, () => {
+    it('never-settling resolve', async () => {
+      const { code, signal, stdout, stderr } = await spawnPromisified(execPath, [
+        '--no-warnings',
+        '--experimental-loader',
+        fixtures.fileURL('es-module-loaders/never-settling-resolve-step/loader.mjs'),
+        fixtures.path('es-module-loaders/never-settling-resolve-step/never-resolve.cjs'),
+      ]);
+
+      assert.strictEqual(stderr, '');
+      assert.match(stdout, /^should be output\r?\n$/);
+      assert.strictEqual(code, 0);
+      assert.strictEqual(signal, null);
+    });
+
+
+    it('never-settling load', async () => {
+      const { code, signal, stdout, stderr } = await spawnPromisified(execPath, [
+        '--no-warnings',
+        '--experimental-loader',
+        fixtures.fileURL('es-module-loaders/never-settling-resolve-step/loader.mjs'),
+        fixtures.path('es-module-loaders/never-settling-resolve-step/never-load.cjs'),
+      ]);
+
+      assert.strictEqual(stderr, '');
+      assert.match(stdout, /^should be output\r?\n$/);
+      assert.strictEqual(code, 0);
+      assert.strictEqual(signal, null);
+    });
+
+    it('race of never-settling hooks', async () => {
+      const { code, signal, stdout, stderr } = await spawnPromisified(execPath, [
+        '--no-warnings',
+        '--experimental-loader',
+        fixtures.fileURL('es-module-loaders/never-settling-resolve-step/loader.mjs'),
+        fixtures.path('es-module-loaders/never-settling-resolve-step/race.cjs'),
+      ]);
+
+      assert.strictEqual(stderr, '');
+      assert.match(stdout, /^true\r?\n$/);
+      assert.strictEqual(code, 0);
+      assert.strictEqual(signal, null);
+    });
+  });
 });
diff --git a/test/fixtures/es-module-loaders/never-settling-resolve-step/loader.mjs b/test/fixtures/es-module-loaders/never-settling-resolve-step/loader.mjs
new file mode 100644
index 00000000000..c180583b4c7
--- /dev/null
+++ b/test/fixtures/es-module-loaders/never-settling-resolve-step/loader.mjs
@@ -0,0 +1,10 @@
+export function resolve(specifier, context, next) {
+    if (specifier === 'never-settle-resolve') return new Promise(() => {});
+    if (specifier === 'never-settle-load') return { __proto__: null, shortCircuit: true, url: 'never-settle:///' };
+    return next(specifier, context);
+}
+
+export function load(url, context, next) {
+    if (url === 'never-settle:///') return new Promise(() => {});
+    return next(url, context);
+}
diff --git a/test/fixtures/es-module-loaders/never-settling-resolve-step/never-load.cjs b/test/fixtures/es-module-loaders/never-settling-resolve-step/never-load.cjs
new file mode 100644
index 00000000000..cc81affe7d0
--- /dev/null
+++ b/test/fixtures/es-module-loaders/never-settling-resolve-step/never-load.cjs
@@ -0,0 +1,7 @@
+'use strict';
+
+const neverSettlingDynamicImport = import('never-settle-load');
+
+console.log('should be output');
+
+neverSettlingDynamicImport.then(() => process.exit(1));
diff --git a/test/fixtures/es-module-loaders/never-settling-resolve-step/never-load.mjs b/test/fixtures/es-module-loaders/never-settling-resolve-step/never-load.mjs
new file mode 100644
index 00000000000..3dbf801c760
--- /dev/null
+++ b/test/fixtures/es-module-loaders/never-settling-resolve-step/never-load.mjs
@@ -0,0 +1,5 @@
+const neverSettlingDynamicImport = import('never-settle-load');
+
+console.log('should be output');
+
+await neverSettlingDynamicImport;
diff --git a/test/fixtures/es-module-loaders/never-settling-resolve-step/never-resolve.cjs b/test/fixtures/es-module-loaders/never-settling-resolve-step/never-resolve.cjs
new file mode 100644
index 00000000000..bf6387560b4
--- /dev/null
+++ b/test/fixtures/es-module-loaders/never-settling-resolve-step/never-resolve.cjs
@@ -0,0 +1,7 @@
+'use strict';
+
+const neverSettlingDynamicImport = import('never-settle-resolve');
+
+console.log('should be output');
+
+neverSettlingDynamicImport.then(() => process.exit(1));
diff --git a/test/fixtures/es-module-loaders/never-settling-resolve-step/never-resolve.mjs b/test/fixtures/es-module-loaders/never-settling-resolve-step/never-resolve.mjs
new file mode 100644
index 00000000000..806a131928c
--- /dev/null
+++ b/test/fixtures/es-module-loaders/never-settling-resolve-step/never-resolve.mjs
@@ -0,0 +1,5 @@
+const neverSettlingDynamicImport = import('never-settle-resolve');
+
+console.log('should be output');
+
+await neverSettlingDynamicImport;
diff --git a/test/fixtures/es-module-loaders/never-settling-resolve-step/race.cjs b/test/fixtures/es-module-loaders/never-settling-resolve-step/race.cjs
new file mode 100644
index 00000000000..41884ab9d2e
--- /dev/null
+++ b/test/fixtures/es-module-loaders/never-settling-resolve-step/race.cjs
@@ -0,0 +1,7 @@
+'use strict';
+
+Promise.race([
+    import('never-settle-resolve'),
+    import('never-settle-load'),
+    import('node:process'),
+]).then(result => console.log(result.default === process));
diff --git a/test/fixtures/es-module-loaders/never-settling-resolve-step/race.mjs b/test/fixtures/es-module-loaders/never-settling-resolve-step/race.mjs
new file mode 100644
index 00000000000..8213bbe59d4
--- /dev/null
+++ b/test/fixtures/es-module-loaders/never-settling-resolve-step/race.mjs
@@ -0,0 +1,7 @@
+const result = await Promise.race([
+    import('never-settle-resolve'),
+    import('never-settle-load'),
+    import('node:process'),
+]);
+
+console.log(result.default === process);