diff --git a/src/cdk/dialog/dialog.spec.ts b/src/cdk/dialog/dialog.spec.ts
index 063e4eb0e598..c9d2123c2844 100644
--- a/src/cdk/dialog/dialog.spec.ts
+++ b/src/cdk/dialog/dialog.spec.ts
@@ -10,6 +10,7 @@ import {
   ChangeDetectionStrategy,
   Component,
   Directive,
+  inject,
   Inject,
   InjectionToken,
   Injector,
@@ -52,8 +53,13 @@ describe('Dialog', () => {
         DialogWithInjectedData,
         DialogWithoutFocusableElements,
         DirectiveWithViewContainer,
+        TemplateInjectorParentComponent,
+        TemplateInjectorInnerDirective,
+      ],
+      providers: [
+        {provide: Location, useClass: SpyLocation},
+        {provide: TEMPLATE_INJECTOR_TEST_TOKEN, useValue: 'hello from test module'},
       ],
-      providers: [{provide: Location, useClass: SpyLocation}],
     });
 
     TestBed.compileComponents();
@@ -710,6 +716,22 @@ describe('Dialog', () => {
 
       expect(overlayContainerElement.querySelector('cdk-dialog-container')).toBeTruthy();
     }));
+
+    it(
+      'should fall back to node injector in template dialog if token does not exist in ' +
+        'template injector',
+      fakeAsync(() => {
+        const templateInjectFixture = TestBed.createComponent(TemplateInjectorParentComponent);
+        templateInjectFixture.detectChanges();
+
+        dialog.open(templateInjectFixture.componentInstance.templateRef);
+        templateInjectFixture.detectChanges();
+
+        expect(templateInjectFixture.componentInstance.innerComponentValue).toBe(
+          'hello from parent component',
+        );
+      }),
+    );
   });
 
   describe('hasBackdrop option', () => {
@@ -1233,3 +1255,28 @@ class DialogWithoutFocusableElements {}
   encapsulation: ViewEncapsulation.ShadowDom,
 })
 class ShadowDomComponent {}
+
+const TEMPLATE_INJECTOR_TEST_TOKEN = new InjectionToken<string>('TEMPLATE_INJECTOR_TEST_TOKEN');
+
+@Component({
+  template: `<ng-template><template-injector-inner></template-injector-inner></ng-template>`,
+  providers: [
+    {
+      provide: TEMPLATE_INJECTOR_TEST_TOKEN,
+      useValue: 'hello from parent component',
+    },
+  ],
+})
+class TemplateInjectorParentComponent {
+  @ViewChild(TemplateRef) templateRef: TemplateRef<any>;
+  innerComponentValue = '';
+}
+
+@Directive({
+  selector: 'template-injector-inner',
+})
+class TemplateInjectorInnerDirective {
+  constructor(parent: TemplateInjectorParentComponent) {
+    parent.innerComponentValue = inject(TEMPLATE_INJECTOR_TEST_TOKEN);
+  }
+}
diff --git a/src/cdk/dialog/dialog.ts b/src/cdk/dialog/dialog.ts
index 19c85320e2b6..3bc7838c2ff9 100644
--- a/src/cdk/dialog/dialog.ts
+++ b/src/cdk/dialog/dialog.ts
@@ -221,7 +221,7 @@ export class Dialog implements OnDestroy {
     dialogRef: DialogRef<R, C>,
     config: DialogConfig<D, DialogRef<R, C>>,
   ): BasePortalOutlet {
-    const userInjector = config.injector ?? config.viewContainerRef?.injector;
+    const userInjector = config.injector || config.viewContainerRef?.injector;
     const providers: StaticProvider[] = [
       {provide: DialogConfig, useValue: config},
       {provide: DialogRef, useValue: dialogRef},
@@ -265,9 +265,8 @@ export class Dialog implements OnDestroy {
     dialogContainer: BasePortalOutlet,
     config: DialogConfig<D, DialogRef<R, C>>,
   ) {
-    const injector = this._createInjector(config, dialogRef, dialogContainer);
-
     if (componentOrTemplateRef instanceof TemplateRef) {
+      const injector = this._createInjector(config, dialogRef, dialogContainer, undefined);
       let context: any = {$implicit: config.data, dialogRef};
 
       if (config.templateContext) {
@@ -283,6 +282,7 @@ export class Dialog implements OnDestroy {
         new TemplatePortal<C>(componentOrTemplateRef, null!, context, injector),
       );
     } else {
+      const injector = this._createInjector(config, dialogRef, dialogContainer, this._injector);
       const contentRef = dialogContainer.attachComponentPortal<C>(
         new ComponentPortal(
           componentOrTemplateRef,
@@ -301,14 +301,17 @@ export class Dialog implements OnDestroy {
    * @param config Config object that is used to construct the dialog.
    * @param dialogRef Reference to the dialog being opened.
    * @param dialogContainer Component that is going to wrap the dialog content.
+   * @param fallbackInjector Injector to use as a fallback when a lookup fails in the custom
+   * dialog injector, if the user didn't provide a custom one.
    * @returns The custom injector that can be used inside the dialog.
    */
   private _createInjector<R, D, C>(
     config: DialogConfig<D, DialogRef<R, C>>,
     dialogRef: DialogRef<R, C>,
     dialogContainer: BasePortalOutlet,
+    fallbackInjector: Injector | undefined,
   ): Injector {
-    const userInjector = config && config.viewContainerRef && config.viewContainerRef.injector;
+    const userInjector = config.injector || config.viewContainerRef?.injector;
     const providers: StaticProvider[] = [
       {provide: DIALOG_DATA, useValue: config.data},
       {provide: DialogRef, useValue: dialogRef},
@@ -333,7 +336,7 @@ export class Dialog implements OnDestroy {
       });
     }
 
-    return Injector.create({parent: config.injector || userInjector || this._injector, providers});
+    return Injector.create({parent: userInjector || fallbackInjector, providers});
   }
 
   /**