diff --git a/src/compiler/moduleNameResolver.ts b/src/compiler/moduleNameResolver.ts
index be8573b075db3..31c4daeb45936 100644
--- a/src/compiler/moduleNameResolver.ts
+++ b/src/compiler/moduleNameResolver.ts
@@ -2756,27 +2756,31 @@ function loadModuleFromImmediateNodeModulesDirectory(extensions: Extensions, mod
 
 function loadModuleFromSpecificNodeModulesDirectory(extensions: Extensions, moduleName: string, nodeModulesDirectory: string, nodeModulesDirectoryExists: boolean, state: ModuleResolutionState, cache: ModuleResolutionCache | undefined, redirectedReference: ResolvedProjectReference | undefined): Resolved | undefined {
     const candidate = normalizePath(combinePaths(nodeModulesDirectory, moduleName));
+    const { packageName, rest } = parsePackageName(moduleName);
+    const packageDirectory = combinePaths(nodeModulesDirectory, packageName);
 
+    let rootPackageInfo: PackageJsonInfo | undefined;
     // First look for a nested package.json, as in `node_modules/foo/bar/package.json`.
     let packageInfo = getPackageJsonInfo(candidate, !nodeModulesDirectoryExists, state);
     // But only if we're not respecting export maps (if we are, we might redirect around this location)
-    if (!(state.features & NodeResolutionFeatures.Exports)) {
-        if (packageInfo) {
-            const fromFile = loadModuleFromFile(extensions, candidate, !nodeModulesDirectoryExists, state);
-            if (fromFile) {
-                return noPackageId(fromFile);
-            }
-
-            const fromDirectory = loadNodeModuleFromDirectoryWorker(
-                extensions,
-                candidate,
-                !nodeModulesDirectoryExists,
-                state,
-                packageInfo.contents.packageJsonContent,
-                getVersionPathsOfPackageJsonInfo(packageInfo, state),
-            );
-            return withPackageId(packageInfo, fromDirectory);
+    if (rest !== "" && packageInfo && (
+        !(state.features & NodeResolutionFeatures.Exports) ||
+        !hasProperty((rootPackageInfo = getPackageJsonInfo(packageDirectory, !nodeModulesDirectoryExists, state))?.contents.packageJsonContent ?? emptyArray, "exports")
+    )) {
+        const fromFile = loadModuleFromFile(extensions, candidate, !nodeModulesDirectoryExists, state);
+        if (fromFile) {
+            return noPackageId(fromFile);
         }
+
+        const fromDirectory = loadNodeModuleFromDirectoryWorker(
+            extensions,
+            candidate,
+            !nodeModulesDirectoryExists,
+            state,
+            packageInfo.contents.packageJsonContent,
+            getVersionPathsOfPackageJsonInfo(packageInfo, state),
+        );
+        return withPackageId(packageInfo, fromDirectory);
     }
 
     const loader: ResolutionKindSpecificLoader = (extensions, candidate, onlyRecordFailures, state) => {
@@ -2803,11 +2807,9 @@ function loadModuleFromSpecificNodeModulesDirectory(extensions: Extensions, modu
         return withPackageId(packageInfo, pathAndExtension);
     };
 
-    const { packageName, rest } = parsePackageName(moduleName);
-    const packageDirectory = combinePaths(nodeModulesDirectory, packageName);
     if (rest !== "") {
         // Previous `packageInfo` may have been from a nested package.json; ensure we have the one from the package root now.
-        packageInfo = getPackageJsonInfo(packageDirectory, !nodeModulesDirectoryExists, state);
+        packageInfo = rootPackageInfo ?? getPackageJsonInfo(packageDirectory, !nodeModulesDirectoryExists, state);
     }
     // package exports are higher priority than file/directory/typesVersions lookups and (and, if there's exports present, blocks them)
     if (packageInfo && packageInfo.contents.packageJsonContent.exports && state.features & NodeResolutionFeatures.Exports) {
diff --git a/tests/baselines/reference/nestedPackageJsonRedirect(moduleresolution=bundler).trace.json b/tests/baselines/reference/nestedPackageJsonRedirect(moduleresolution=bundler).trace.json
new file mode 100644
index 0000000000000..b6dd002185a28
--- /dev/null
+++ b/tests/baselines/reference/nestedPackageJsonRedirect(moduleresolution=bundler).trace.json
@@ -0,0 +1,17 @@
+[
+    "======== Resolving module '@restart/hooks/useMergedRefs' from '/main.ts'. ========",
+    "Explicitly specified module resolution kind: 'Bundler'.",
+    "File '/package.json' does not exist.",
+    "Loading module '@restart/hooks/useMergedRefs' from 'node_modules' folder, target file types: TypeScript, JavaScript, Declaration, JSON.",
+    "Found 'package.json' at '/node_modules/@restart/hooks/useMergedRefs/package.json'.",
+    "Found 'package.json' at '/node_modules/@restart/hooks/package.json'.",
+    "File '/node_modules/@restart/hooks/useMergedRefs.ts' does not exist.",
+    "File '/node_modules/@restart/hooks/useMergedRefs.tsx' does not exist.",
+    "File '/node_modules/@restart/hooks/useMergedRefs.d.ts' does not exist.",
+    "'package.json' does not have a 'typesVersions' field.",
+    "'package.json' does not have a 'typings' field.",
+    "'package.json' has 'types' field '../esm/useMergedRefs.d.ts' that references '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts'.",
+    "File '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts' exist - use it as a name resolution result.",
+    "Resolving real path for '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts', result '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts'.",
+    "======== Module name '@restart/hooks/useMergedRefs' was successfully resolved to '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts'. ========"
+]
\ No newline at end of file
diff --git a/tests/baselines/reference/nestedPackageJsonRedirect(moduleresolution=node16).trace.json b/tests/baselines/reference/nestedPackageJsonRedirect(moduleresolution=node16).trace.json
new file mode 100644
index 0000000000000..4d8ad876095fe
--- /dev/null
+++ b/tests/baselines/reference/nestedPackageJsonRedirect(moduleresolution=node16).trace.json
@@ -0,0 +1,31 @@
+[
+    "File '/node_modules/@restart/hooks/esm/package.json' does not exist.",
+    "Found 'package.json' at '/node_modules/@restart/hooks/package.json'.",
+    "File '/package.json' does not exist.",
+    "======== Resolving module '@restart/hooks/useMergedRefs' from '/main.ts'. ========",
+    "Explicitly specified module resolution kind: 'Node16'.",
+    "Resolving in CJS mode with conditions 'node', 'require', 'types'.",
+    "File '/package.json' does not exist according to earlier cached lookups.",
+    "Loading module '@restart/hooks/useMergedRefs' from 'node_modules' folder, target file types: TypeScript, JavaScript, Declaration.",
+    "Found 'package.json' at '/node_modules/@restart/hooks/useMergedRefs/package.json'.",
+    "File '/node_modules/@restart/hooks/package.json' exists according to earlier cached lookups.",
+    "File '/node_modules/@restart/hooks/useMergedRefs.ts' does not exist.",
+    "File '/node_modules/@restart/hooks/useMergedRefs.tsx' does not exist.",
+    "File '/node_modules/@restart/hooks/useMergedRefs.d.ts' does not exist.",
+    "'package.json' does not have a 'typesVersions' field.",
+    "'package.json' does not have a 'typings' field.",
+    "'package.json' has 'types' field '../esm/useMergedRefs.d.ts' that references '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts'.",
+    "File '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts' exist - use it as a name resolution result.",
+    "Resolving real path for '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts', result '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts'.",
+    "======== Module name '@restart/hooks/useMergedRefs' was successfully resolved to '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts'. ========",
+    "File 'package.json' does not exist.",
+    "File '/package.json' does not exist according to earlier cached lookups.",
+    "File 'package.json' does not exist according to earlier cached lookups.",
+    "File '/package.json' does not exist according to earlier cached lookups.",
+    "File 'package.json' does not exist according to earlier cached lookups.",
+    "File '/package.json' does not exist according to earlier cached lookups.",
+    "File 'package.json' does not exist according to earlier cached lookups.",
+    "File '/package.json' does not exist according to earlier cached lookups.",
+    "File 'package.json' does not exist according to earlier cached lookups.",
+    "File '/package.json' does not exist according to earlier cached lookups."
+]
\ No newline at end of file
diff --git a/tests/baselines/reference/nestedPackageJsonRedirect(moduleresolution=nodenext).trace.json b/tests/baselines/reference/nestedPackageJsonRedirect(moduleresolution=nodenext).trace.json
new file mode 100644
index 0000000000000..77e7411b6622e
--- /dev/null
+++ b/tests/baselines/reference/nestedPackageJsonRedirect(moduleresolution=nodenext).trace.json
@@ -0,0 +1,31 @@
+[
+    "File '/node_modules/@restart/hooks/esm/package.json' does not exist.",
+    "Found 'package.json' at '/node_modules/@restart/hooks/package.json'.",
+    "File '/package.json' does not exist.",
+    "======== Resolving module '@restart/hooks/useMergedRefs' from '/main.ts'. ========",
+    "Explicitly specified module resolution kind: 'NodeNext'.",
+    "Resolving in CJS mode with conditions 'node', 'require', 'types'.",
+    "File '/package.json' does not exist according to earlier cached lookups.",
+    "Loading module '@restart/hooks/useMergedRefs' from 'node_modules' folder, target file types: TypeScript, JavaScript, Declaration.",
+    "Found 'package.json' at '/node_modules/@restart/hooks/useMergedRefs/package.json'.",
+    "File '/node_modules/@restart/hooks/package.json' exists according to earlier cached lookups.",
+    "File '/node_modules/@restart/hooks/useMergedRefs.ts' does not exist.",
+    "File '/node_modules/@restart/hooks/useMergedRefs.tsx' does not exist.",
+    "File '/node_modules/@restart/hooks/useMergedRefs.d.ts' does not exist.",
+    "'package.json' does not have a 'typesVersions' field.",
+    "'package.json' does not have a 'typings' field.",
+    "'package.json' has 'types' field '../esm/useMergedRefs.d.ts' that references '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts'.",
+    "File '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts' exist - use it as a name resolution result.",
+    "Resolving real path for '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts', result '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts'.",
+    "======== Module name '@restart/hooks/useMergedRefs' was successfully resolved to '/node_modules/@restart/hooks/esm/useMergedRefs.d.ts'. ========",
+    "File 'package.json' does not exist.",
+    "File '/package.json' does not exist according to earlier cached lookups.",
+    "File 'package.json' does not exist according to earlier cached lookups.",
+    "File '/package.json' does not exist according to earlier cached lookups.",
+    "File 'package.json' does not exist according to earlier cached lookups.",
+    "File '/package.json' does not exist according to earlier cached lookups.",
+    "File 'package.json' does not exist according to earlier cached lookups.",
+    "File '/package.json' does not exist according to earlier cached lookups.",
+    "File 'package.json' does not exist according to earlier cached lookups.",
+    "File '/package.json' does not exist according to earlier cached lookups."
+]
\ No newline at end of file
diff --git a/tests/cases/conformance/moduleResolution/nestedPackageJsonRedirect.ts b/tests/cases/conformance/moduleResolution/nestedPackageJsonRedirect.ts
new file mode 100644
index 0000000000000..8d5804c1fd010
--- /dev/null
+++ b/tests/cases/conformance/moduleResolution/nestedPackageJsonRedirect.ts
@@ -0,0 +1,29 @@
+// @moduleResolution: node16,nodenext,bundler
+// @noEmit: true
+// @noTypesAndSymbols: true
+// @traceResolution: true
+// @strict: true
+
+// @Filename: /node_modules/@restart/hooks/package.json
+{
+    "name": "@restart/hooks",
+    "version": "0.3.25",
+    "main": "cjs/index.js",
+    "types": "cjs/index.d.ts",
+    "module": "esm/index.js"
+}
+
+// @Filename: /node_modules/@restart/hooks/useMergedRefs/package.json
+{
+    "name": "@restart/hooks/useMergedRefs",
+    "private": true,
+    "main": "../cjs/useMergedRefs.js",
+    "module": "../esm/useMergedRefs.js",
+    "types": "../esm/useMergedRefs.d.ts"
+  }
+
+// @Filename: /node_modules/@restart/hooks/esm/useMergedRefs.d.ts
+export {};
+
+// @Filename: /main.ts
+import {} from "@restart/hooks/useMergedRefs";