diff --git a/packages/react-client/src/__tests__/ReactFlight-test.js b/packages/react-client/src/__tests__/ReactFlight-test.js
index 49968b33590d9..7dc940cfdd4ef 100644
--- a/packages/react-client/src/__tests__/ReactFlight-test.js
+++ b/packages/react-client/src/__tests__/ReactFlight-test.js
@@ -3276,6 +3276,7 @@ describe('ReactFlight', () => {
     expect(typeof loggedFn2).toBe('function');
     expect(loggedFn2).not.toBe(foo);
     expect(loggedFn2.toString()).toBe(foo.toString());
+    expect(loggedFn2).toBe(loggedFn);
 
     const promise = mockConsoleLog.mock.calls[0][1].promise;
     expect(promise).toBeInstanceOf(Promise);
diff --git a/packages/react-server/src/ReactFlightServer.js b/packages/react-server/src/ReactFlightServer.js
index e51197c5b2b19..f40e3bd9deb66 100644
--- a/packages/react-server/src/ReactFlightServer.js
+++ b/packages/react-server/src/ReactFlightServer.js
@@ -4096,8 +4096,25 @@ function renderConsoleValue(
     }
 
     // Serialize the body of the function as an eval so it can be printed.
-    // $FlowFixMe[method-unbinding]
-    return serializeEval('(' + Function.prototype.toString.call(value) + ')');
+    const writtenObjects = request.writtenObjects;
+    const existingReference = writtenObjects.get(value);
+    if (existingReference !== undefined) {
+      // We've already emitted this function, so we can
+      // just refer to that by its existing reference.
+      return existingReference;
+    }
+
+    const serializedValue = serializeEval(
+      // $FlowFixMe[method-unbinding]
+      '(' + Function.prototype.toString.call(value) + ')',
+    );
+    request.pendingChunks++;
+    const id = request.nextChunkId++;
+    const processedChunk = encodeReferenceChunk(request, id, serializedValue);
+    request.completedRegularChunks.push(processedChunk);
+    const reference = serializeByValueID(id);
+    writtenObjects.set(value, reference);
+    return reference;
   }
 
   if (typeof value === 'symbol') {