diff --git a/lib/internal/vm/module.js b/lib/internal/vm/module.js
index ce2350f6cd16cb..30cb236e9b6da6 100644
--- a/lib/internal/vm/module.js
+++ b/lib/internal/vm/module.js
@@ -405,6 +405,14 @@ class SourceTextModule extends Module {
       throw new ERR_VM_MODULE_STATUS('must be unlinked');
     }
     this[kWrap].instantiate();
+
+    if (this.#importModuleDynamically === undefined) {
+      const { moduleRegistries } = require('internal/modules/esm/utils');
+      const idSymbol = this[kWrap][host_defined_option_symbol];
+      if (idSymbol) {
+        moduleRegistries.delete(idSymbol);
+      }
+    }
   }
 
   get dependencySpecifiers() {
diff --git a/test/parallel/test-vm-module-memory-leak.js b/test/parallel/test-vm-module-memory-leak.js
new file mode 100644
index 00000000000000..0de57b5b6066f3
--- /dev/null
+++ b/test/parallel/test-vm-module-memory-leak.js
@@ -0,0 +1,54 @@
+'use strict';
+// Flags: --experimental-vm-modules --expose-gc
+
+require('../common');
+const assert = require('assert');
+const { SourceTextModule } = require('vm');
+const v8 = require('v8');
+
+async function run() {
+  let initialMemory = 0;
+
+  // Run a few times to warm up the VM
+  for (let i = 0; i < 5; i++) {
+    const m = new SourceTextModule('import.meta.url; const x = new Array(1000).fill(1);', { identifier: `file://warmup${i}.js` });
+    await m.link(() => {});
+    await m.evaluate();
+  }
+  global.gc();
+  initialMemory = process.memoryUsage().heapUsed;
+
+  process.on('unhandledRejection', () => {});
+  const ctx = require('vm').createContext({});
+  for (let i = 0; i < 1000; i++) {
+    const m = new SourceTextModule(`
+      import.meta.url;
+      const x = new Array(1024 * 1024).fill(1); // some memory
+      await new Promise(r => setTimeout(r, 0));
+      throw new Error('foo');
+    `, { 
+      context: ctx,
+      identifier: `file://test${i}.js`,
+      initializeImportMeta(meta) { meta.url = `file://test${i}.js`; }
+    });
+    await m.link(() => {});
+    m.evaluate(); // Don't catch!
+  }
+  
+  // Wait for all microtasks to run
+  await new Promise(r => setImmediate(r));
+  
+  delete globalThis.importMetaUrl;
+  global.gc();
+  
+  const finalMemory = process.memoryUsage().heapUsed;
+  const diffMB = (finalMemory - initialMemory) / 1024 / 1024;
+  
+  // The leak was ~80MB for 1000 iterations.
+  // We expect the diff to be small (e.g. < 5MB).
+  assert(diffMB < 10, `Memory leaked: ${diffMB.toFixed(2)}MB`);
+}
+
+run().then(() => {
+  console.log('Test passed');
+});