diff --git a/packages/lens/src/parseAtoms.test.ts b/packages/lens/src/parseAtoms.test.ts
index 4baa89e6d..b7cbd7205 100644
--- a/packages/lens/src/parseAtoms.test.ts
+++ b/packages/lens/src/parseAtoms.test.ts
@@ -1,7 +1,7 @@
 import { createTestCtx } from '@reatom/testing'
 import { suite } from 'uvu'
 import * as assert from 'uvu/assert'
-import { atom } from '@reatom/core'
+import { Atom, atom } from '@reatom/core'
 import { parseAtoms } from './parseAtoms'
 
 const test = suite('parseAtoms')
@@ -151,4 +151,24 @@ test('should parse deep structures', () => {
   ;`👍` //?
 })
 
+test('circular structures', () => {
+  const ctx = createTestCtx()
+
+  const dummy = atom(null)
+
+  const a = atom((ctx):{b: Atom<any>} => {
+    ctx.spy(dummy) // add a dependency to prevent it from restarting on every call
+    return {b}
+  })
+
+  const b = atom((ctx) => {
+    ctx.spy(dummy)
+    return {a}
+  })
+
+  const snapshot = parseAtoms(ctx, a)
+  assert.equal(snapshot, snapshot.b.a)
+  assert.equal(snapshot.b, snapshot.b.a.b)
+})
+
 test.run()
diff --git a/packages/lens/src/parseAtoms.ts b/packages/lens/src/parseAtoms.ts
index 2f9769a3b..796f01ad1 100644
--- a/packages/lens/src/parseAtoms.ts
+++ b/packages/lens/src/parseAtoms.ts
@@ -13,37 +13,35 @@ export type ParseAtoms<T> = T extends Atom<infer T>
     }
   : T
 
-export const parseAtoms = <Value>(
+export const parseAtoms = <T>(ctx: Ctx, value: T) =>
+  unwrap(ctx, value, new WeakMap())
+
+const unwrap = <T>(
   ctx: Ctx,
-  value: Value,
-): ParseAtoms<Value> => {
+  value: T,
+  cache: WeakMap<any, any>,
+): ParseAtoms<T> => {
   while (isAtom(value)) value = ctx.spy ? ctx.spy(value) : ctx.get(value)
 
   if (typeof value !== 'object' || value === null) return value as any
 
-  if (isRec(value)) {
-    const res = {} as Rec
-    for (const k in value) res[k] = parseAtoms(ctx, value[k])
-    return res as any
-  }
+  if (cache.has(value)) return cache.get(value)
 
-  if (Array.isArray(value)) {
-    const res = []
-    for (const v of value) res.push(parseAtoms(ctx, v))
-    return res as any
-  }
+  let res: any = value
 
-  if (value instanceof Map) {
-    const res = new Map()
-    for (const [k, v] of value) res.set(k, parseAtoms(ctx, v))
-    return res as any
-  }
-
-  if (value instanceof Set) {
-    const res = new Set()
-    for (const v of value) res.add(parseAtoms(ctx, v))
-    return res as any
+  if (isRec(value)) {
+    cache.set(value, (res = {}))
+    for (const k in value) res[k] = unwrap(ctx, value[k], cache)
+  } else if (Array.isArray(value)) {
+    cache.set(value, (res = []))
+    for (const v of value) res.push(unwrap(ctx, v, cache))
+  } else if (value instanceof Map) {
+    cache.set(value, (res = new Map()))
+    for (const [k, v] of value) res.set(k, unwrap(ctx, v, cache))
+  } else if (value instanceof Set) {
+    cache.set(value, (res = new Set()))
+    for (const v of value) res.add(unwrap(ctx, v, cache))
   }
 
-  return value as any
+  return res
 }