diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9fd72005a..9a60d0ea1 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,7 @@
 ### Bug Fixes
 
 -   Normalize all file paths on Windows, #2113.
+-   Fix `@link` tags within lists, #2103.
 
 ## v0.23.21 (2022-11-14)
 
diff --git a/src/lib/output/themes/lib.tsx b/src/lib/output/themes/lib.tsx
index 6f2492c68..3b01121fb 100644
--- a/src/lib/output/themes/lib.tsx
+++ b/src/lib/output/themes/lib.tsx
@@ -139,8 +139,8 @@ export function displayPartsToMarkdown(
                     case "@linkplain": {
                         if (part.target) {
                             const url = typeof part.target === "string" ? part.target : urlTo(part.target);
-                            const wrap = part.tag === "@linkcode" ? "`" : "";
-                            result.push(url ? `[${wrap}${part.text}${wrap}](${url})` : part.text);
+                            const text = part.tag === "@linkcode" ? `<code>${part.text}</code>` : part.text;
+                            result.push(url ? `<a href="${url}">${text}</a>` : part.text);
                         } else {
                             result.push(part.text);
                         }