diff --git a/packages/react-dom-bindings/src/client/ReactFiberConfigDOM.js b/packages/react-dom-bindings/src/client/ReactFiberConfigDOM.js
index 2d29781dfee..e2105e45420 100644
--- a/packages/react-dom-bindings/src/client/ReactFiberConfigDOM.js
+++ b/packages/react-dom-bindings/src/client/ReactFiberConfigDOM.js
@@ -4522,6 +4522,79 @@ function getScriptSelectorFromKey(key: string): string {
   return 'script[async]' + key;
 }
 
+// for the sake of performance we want to use insertRule
+// if that fails, fall back to appending textContent (which is slow)
+function appendStyleRule(style: HTMLStyleElement, cssText: string) {
+  try {
+    if (style.sheet)
+      style.sheet.insertRule(cssText, style.sheet.cssRules.length);
+    else style.textContent += cssText;
+  } catch (e) {
+    style.textContent += cssText;
+  }
+}
+
+const styleNodesByPrecedence = new WeakMap<
+  HoistableRoot,
+  Map<string, HTMLStyleElement>,
+>();
+const styleNodesByHref = new WeakMap<
+  HoistableRoot,
+  Map<string, HTMLStyleElement>,
+>();
+
+function updateHrefCache(
+  hrefCache: Map<string, HTMLStyleElement>,
+  node: HTMLElement,
+) {
+  const hrefs = node.dataset.href.split(' ');
+  for (let j = 0; j < hrefs.length; j++) {
+    const href = hrefs[j];
+    if (
+      typeof HTMLStyleElement !== 'undefined' &&
+      node instanceof HTMLStyleElement
+    )
+      hrefCache.set(href, node);
+  }
+}
+
+// when creating our caches, hydrate with data from the DOM
+// this should only happen once per root
+function getHydratedCaches(hoistableRoot: HoistableRoot) {
+  let rootHrefCache = styleNodesByHref.get(hoistableRoot);
+  let rootPrecedenceCache = styleNodesByPrecedence.get(hoistableRoot);
+
+  if (!rootHrefCache) {
+    rootHrefCache = new Map<string, HTMLStyleElement>();
+    styleNodesByHref.set(hoistableRoot, rootHrefCache);
+
+    const nodesWithHref = hoistableRoot.querySelectorAll('style[data-href]');
+    for (let i = 0; i < nodesWithHref.length; i++) {
+      updateHrefCache(rootHrefCache, nodesWithHref[i]);
+    }
+  }
+
+  if (!rootPrecedenceCache) {
+    rootPrecedenceCache = new Map<string, HTMLStyleElement>();
+    styleNodesByPrecedence.set(hoistableRoot, rootPrecedenceCache);
+
+    const nodesWithPrecedence = hoistableRoot.querySelectorAll(
+      'style[data-precedence]',
+    );
+    for (let i = 0; i < nodesWithPrecedence.length; i++) {
+      const node = nodesWithPrecedence[i];
+      const precedence = node.dataset.precedence;
+      if (
+        typeof HTMLStyleElement !== 'undefined' &&
+        node instanceof HTMLStyleElement
+      )
+        rootPrecedenceCache.set(precedence, node);
+    }
+  }
+
+  return {rootHrefCache, rootPrecedenceCache};
+}
+
 export function acquireResource(
   hoistableRoot: HoistableRoot,
   resource: Resource,
@@ -4533,11 +4606,38 @@ export function acquireResource(
       case 'style': {
         const qualifiedProps: StyleTagQualifyingProps = props;
 
-        // Attempt to hydrate instance from DOM
-        let instance: null | Instance = hoistableRoot.querySelector(
+        const {rootHrefCache, rootPrecedenceCache} =
+          getHydratedCaches(hoistableRoot);
+
+        // attempt to hydrate first from our href cache, then from the DOM
+        // this minimizes the number of times we query the DOM
+        let instance: null | Instance =
+          rootHrefCache.get(qualifiedProps.href) || null;
+
+        if (instance) {
+          resource.instance = instance;
+          markNodeAsHoistable(instance);
+          return instance;
+        }
+
+        // attempt to reuse an existing style node before creating a new one
+        // this minimizes the number of style nodes we create, which keeps query selectors faster
+        instance = rootPrecedenceCache.get(qualifiedProps.precedence) || null;
+        if (instance && instance.isConnected) {
+          if (typeof qualifiedProps.children === 'string')
+            appendStyleRule(instance, qualifiedProps.children);
+          if (!instance.dataset.href.includes(qualifiedProps.href))
+            instance.dataset.href += ` ${qualifiedProps.href}`;
+          resource.instance = instance;
+          return instance;
+        }
+
+        // if a style tag with the same href was server-rendered but then suspended, it may not be in our cache
+        instance = hoistableRoot.querySelector(
           getStyleTagSelector(qualifiedProps.href),
         );
         if (instance) {
+          updateHrefCache(rootHrefCache, instance);
           resource.instance = instance;
           markNodeAsHoistable(instance);
           return instance;
@@ -4557,6 +4657,9 @@ export function acquireResource(
         insertStylesheet(instance, qualifiedProps.precedence, hoistableRoot);
         resource.instance = instance;
 
+        rootPrecedenceCache.set(qualifiedProps.precedence, instance);
+        rootHrefCache.set(qualifiedProps.href, instance);
+
         return instance;
       }
       case 'stylesheet': {
diff --git a/packages/react-dom/src/__tests__/ReactDOMFloat-test.js b/packages/react-dom/src/__tests__/ReactDOMFloat-test.js
index 7404cec64a0..2a321c2dfe4 100644
--- a/packages/react-dom/src/__tests__/ReactDOMFloat-test.js
+++ b/packages/react-dom/src/__tests__/ReactDOMFloat-test.js
@@ -8314,7 +8314,7 @@ background-color: green;
         </html>,
       );
 
-      // Client inserted style tags are not grouped together but can hydrate against a grouped set
+      // Client inserted style tags are grouped and can also hydrate against an existing grouped set
       ReactDOMClient.hydrateRoot(
         document,
         <html>
@@ -8347,11 +8347,8 @@ background-color: green;
             <style data-href="11 13 14" data-precedence="default">
               111314
             </style>
-            <style data-href="16" data-precedence="default">
-              16
-            </style>
-            <style data-href="17" data-precedence="default">
-              17
+            <style data-href="16 17" data-precedence="default">
+              1617
             </style>
             <style data-href="2 5" data-precedence="foo">
               foo2foo5