diff --git a/Cargo.lock b/Cargo.lock
index 5412c0cae24335..7a69676215a8c9 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -232,6 +232,15 @@ version = "0.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "37b2a672a2cb129a2e41c10b1224bb368f9f37a2b16b612598138befd7b37eb5"
 
+[[package]]
+name = "castaway"
+version = "0.2.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "8a17ed5635fc8536268e5d4de1e22e81ac34419e5f052d4d51f4e01dcc263fcc"
+dependencies = [
+ "rustversion",
+]
+
 [[package]]
 name = "cc"
 version = "1.0.95"
@@ -436,6 +445,20 @@ dependencies = [
  "windows-sys 0.48.0",
 ]
 
+[[package]]
+name = "compact_str"
+version = "0.7.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "f86b9c4c00838774a6d902ef931eff7470720c51d90c2e32cfe15dc304737b3f"
+dependencies = [
+ "castaway",
+ "cfg-if",
+ "itoa",
+ "ryu",
+ "serde",
+ "static_assertions",
+]
+
 [[package]]
 name = "console"
 version = "0.15.8"
@@ -2258,6 +2281,7 @@ version = "0.0.0"
 dependencies = [
  "aho-corasick",
  "bitflags 2.5.0",
+ "compact_str",
  "is-macro",
  "itertools 0.13.0",
  "once_cell",
@@ -2269,7 +2293,6 @@ dependencies = [
  "rustc-hash 2.0.0",
  "schemars",
  "serde",
- "smol_str",
 ]
 
 [[package]]
@@ -2355,6 +2378,7 @@ dependencies = [
  "anyhow",
  "bitflags 2.5.0",
  "bstr",
+ "compact_str",
  "insta",
  "memchr",
  "ruff_python_ast",
diff --git a/Cargo.toml b/Cargo.toml
index 613a5fd92097f9..42c8f16000378b 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -55,6 +55,7 @@ colored = { version = "2.1.0" }
 console_error_panic_hook = { version = "0.1.7" }
 console_log = { version = "1.0.0" }
 countme = { version = "3.0.1" }
+compact_str = "0.7.1"
 criterion = { version = "0.5.1", default-features = false }
 crossbeam = { version = "0.8.4" }
 dashmap = { version = "5.5.3" }
diff --git a/crates/ruff_linter/src/rules/flake8_self/rules/private_member_access.rs b/crates/ruff_linter/src/rules/flake8_self/rules/private_member_access.rs
index aa592c828523b2..31cec1cd48be01 100644
--- a/crates/ruff_linter/src/rules/flake8_self/rules/private_member_access.rs
+++ b/crates/ruff_linter/src/rules/flake8_self/rules/private_member_access.rs
@@ -93,7 +93,12 @@ pub(crate) fn private_member_access(checker: &mut Checker, expr: &Expr) {
         return;
     }
 
-    if checker.settings.flake8_self.ignore_names.contains(&attr.id) {
+    if checker
+        .settings
+        .flake8_self
+        .ignore_names
+        .contains(attr.id())
+    {
         return;
     }
 
diff --git a/crates/ruff_linter/src/rules/pyflakes/rules/strings.rs b/crates/ruff_linter/src/rules/pyflakes/rules/strings.rs
index 811bf7c26e52f7..539e14ca85399e 100644
--- a/crates/ruff_linter/src/rules/pyflakes/rules/strings.rs
+++ b/crates/ruff_linter/src/rules/pyflakes/rules/strings.rs
@@ -747,7 +747,7 @@ pub(crate) fn string_dot_format_extra_named_arguments(
     let missing: Vec<(usize, &Name)> = keywords
         .enumerate()
         .filter_map(|(index, keyword)| {
-            if summary.keywords.contains(&keyword.id) {
+            if summary.keywords.contains(keyword.id()) {
                 None
             } else {
                 Some((index, &keyword.id))
@@ -863,7 +863,7 @@ pub(crate) fn string_dot_format_missing_argument(
         .iter()
         .filter_map(|k| {
             let Keyword { arg, .. } = &k;
-            arg.as_ref().map(|identifier| &identifier.id)
+            arg.as_ref().map(|identifier| identifier.id())
         })
         .collect();
 
diff --git a/crates/ruff_linter/src/rules/pylint/rules/no_method_decorator.rs b/crates/ruff_linter/src/rules/pylint/rules/no_method_decorator.rs
index e6421bd2a7d499..a1648c8438a79f 100644
--- a/crates/ruff_linter/src/rules/pylint/rules/no_method_decorator.rs
+++ b/crates/ruff_linter/src/rules/pylint/rules/no_method_decorator.rs
@@ -153,7 +153,7 @@ fn get_undecorated_methods(checker: &mut Checker, class_stmt: &Stmt, method_type
             ..
         }) = stmt
         {
-            let Some(decorator_call_statement) = explicit_decorator_calls.get(&name.id) else {
+            let Some(decorator_call_statement) = explicit_decorator_calls.get(name.id()) else {
                 continue;
             };
 
diff --git a/crates/ruff_linter/src/rules/refurb/rules/repeated_global.rs b/crates/ruff_linter/src/rules/refurb/rules/repeated_global.rs
index 2e10dc0b76adae..bf2925be935a2b 100644
--- a/crates/ruff_linter/src/rules/refurb/rules/repeated_global.rs
+++ b/crates/ruff_linter/src/rules/refurb/rules/repeated_global.rs
@@ -86,7 +86,7 @@ pub(crate) fn repeated_global(checker: &mut Checker, mut suite: &[Stmt]) {
                                     Stmt::Nonlocal(stmt) => &stmt.names,
                                     _ => unreachable!(),
                                 })
-                                .map(|identifier| &identifier.id)
+                                .map(|identifier| identifier.id())
                                 .format(", ")
                         ),
                         range,
diff --git a/crates/ruff_python_ast/Cargo.toml b/crates/ruff_python_ast/Cargo.toml
index cde90b1fbfa7ca..bd41c71b676efd 100644
--- a/crates/ruff_python_ast/Cargo.toml
+++ b/crates/ruff_python_ast/Cargo.toml
@@ -27,10 +27,10 @@ once_cell = { workspace = true }
 rustc-hash = { workspace = true }
 schemars = { workspace = true, optional = true }
 serde = { workspace = true, optional = true }
-smol_str = { workspace = true }
+compact_str = { workspace = true }
 
 [features]
-serde = ["dep:serde", "ruff_text_size/serde", "dep:ruff_cache", "smol_str/serde", "dep:ruff_macros", "dep:schemars"]
+serde = ["dep:serde", "ruff_text_size/serde", "dep:ruff_cache", "compact_str/serde", "dep:ruff_macros", "dep:schemars"]
 
 [lints]
 workspace = true
diff --git a/crates/ruff_python_ast/src/name.rs b/crates/ruff_python_ast/src/name.rs
index c72f18ec35305e..56908245fe6362 100644
--- a/crates/ruff_python_ast/src/name.rs
+++ b/crates/ruff_python_ast/src/name.rs
@@ -1,30 +1,32 @@
-use crate::{nodes, Expr};
-use std::borrow::Borrow;
+use std::borrow::{Borrow, Cow};
 use std::fmt::{Debug, Display, Formatter, Write};
 use std::hash::{Hash, Hasher};
 use std::ops::Deref;
 
-#[derive(Debug, Clone, PartialEq, Eq, PartialOrd, Ord, Hash)]
+use crate::{nodes, Expr};
+
+#[derive(Debug, Clone, PartialEq, Eq, PartialOrd, Ord, Hash, Default)]
 #[cfg_attr(
     feature = "serde",
     derive(serde::Serialize, serde::Deserialize, ruff_macros::CacheKey,)
 )]
-pub struct Name(smol_str::SmolStr);
+pub struct Name(compact_str::CompactString);
 
 impl Name {
     #[inline]
     pub fn empty() -> Self {
-        Self(smol_str::SmolStr::new_inline(""))
+        Self(compact_str::CompactString::default())
     }
 
     #[inline]
     pub fn new(name: impl AsRef<str>) -> Self {
-        Self(smol_str::SmolStr::new(name))
+        Self(compact_str::CompactString::new(name))
     }
 
     #[inline]
     pub fn new_static(name: &'static str) -> Self {
-        Self(smol_str::SmolStr::new_static(name))
+        // TODO: Use ComactString::const_new once we upgrade to 0.8 https://github.com/ParkMyCar/compact_str/pull/336
+        Self(compact_str::CompactString::from(name))
     }
 
     pub fn as_str(&self) -> &str {
@@ -55,12 +57,52 @@ impl Borrow<str> for Name {
     }
 }
 
-impl<T> From<T> for Name
-where
-    T: Into<smol_str::SmolStr>,
-{
-    fn from(value: T) -> Self {
-        Self(value.into())
+impl<'a> From<&'a str> for Name {
+    #[inline]
+    fn from(s: &'a str) -> Self {
+        Name(s.into())
+    }
+}
+
+impl From<String> for Name {
+    #[inline]
+    fn from(s: String) -> Self {
+        Name(s.into())
+    }
+}
+
+impl<'a> From<&'a String> for Name {
+    #[inline]
+    fn from(s: &'a String) -> Self {
+        Name(s.into())
+    }
+}
+
+impl<'a> From<Cow<'a, str>> for Name {
+    #[inline]
+    fn from(cow: Cow<'a, str>) -> Self {
+        Name(cow.into())
+    }
+}
+
+impl From<Box<str>> for Name {
+    #[inline]
+    fn from(b: Box<str>) -> Self {
+        Name(b.into())
+    }
+}
+
+impl From<compact_str::CompactString> for Name {
+    #[inline]
+    fn from(value: compact_str::CompactString) -> Self {
+        Self(value)
+    }
+}
+
+impl From<Name> for compact_str::CompactString {
+    #[inline]
+    fn from(name: Name) -> Self {
+        name.0
     }
 }
 
diff --git a/crates/ruff_python_ast/src/nodes.rs b/crates/ruff_python_ast/src/nodes.rs
index e8dbc969f17517..5e6308d0867e32 100644
--- a/crates/ruff_python_ast/src/nodes.rs
+++ b/crates/ruff_python_ast/src/nodes.rs
@@ -3777,6 +3777,10 @@ impl Identifier {
         }
     }
 
+    pub fn id(&self) -> &Name {
+        &self.id
+    }
+
     pub fn is_valid(&self) -> bool {
         !self.id.is_empty()
     }
diff --git a/crates/ruff_python_parser/Cargo.toml b/crates/ruff_python_parser/Cargo.toml
index 834baac8532f86..a74a93143e28db 100644
--- a/crates/ruff_python_parser/Cargo.toml
+++ b/crates/ruff_python_parser/Cargo.toml
@@ -19,6 +19,7 @@ ruff_text_size = { workspace = true }
 
 bitflags = { workspace = true }
 bstr = { workspace = true }
+compact_str = { workspace = true }
 memchr = { workspace = true }
 rustc-hash = { workspace = true }
 static_assertions = { workspace = true }
diff --git a/crates/ruff_python_parser/src/parser/statement.rs b/crates/ruff_python_parser/src/parser/statement.rs
index d09183b8eeba23..e10487e18c9c31 100644
--- a/crates/ruff_python_parser/src/parser/statement.rs
+++ b/crates/ruff_python_parser/src/parser/statement.rs
@@ -1,3 +1,4 @@
+use compact_str::CompactString;
 use std::fmt::Display;
 
 use rustc_hash::{FxBuildHasher, FxHashSet};
@@ -624,7 +625,7 @@ impl<'src> Parser<'src> {
             let range = self.node_range(start);
             return ast::Alias {
                 name: ast::Identifier {
-                    id: "*".into(),
+                    id: Name::new_static("*"),
                     range,
                 },
                 asname: None,
@@ -670,7 +671,7 @@ impl<'src> Parser<'src> {
     fn parse_dotted_name(&mut self) -> ast::Identifier {
         let start = self.node_start();
 
-        let mut dotted_name = self.parse_identifier().id.to_string();
+        let mut dotted_name: CompactString = self.parse_identifier().id.into();
         let mut progress = ParserProgress::default();
 
         while self.eat(TokenKind::Dot) {
@@ -687,7 +688,7 @@ impl<'src> Parser<'src> {
         // import a.b.c
         // import a .  b  . c
         ast::Identifier {
-            id: Name::new(dotted_name),
+            id: Name::from(dotted_name),
             range: self.node_range(start),
         }
     }