diff --git a/crates/moon/tests/test_cases/mod.rs b/crates/moon/tests/test_cases/mod.rs
index 9c88751e..db8a6707 100644
--- a/crates/moon/tests/test_cases/mod.rs
+++ b/crates/moon/tests/test_cases/mod.rs
@@ -8218,3 +8218,71 @@ fn test_strip_debug() {
         "#]],
     );
 }
+
+#[test]
+fn test_tracing_value() {
+    let dir = TestDir::new("tracing_value.in");
+
+    // main.mbt in package
+    check(
+        get_stdout(
+            &dir,
+            [
+                "run",
+                "./main/main.mbt",
+                "--enable-value-tracing",
+                "--dry-run",
+            ],
+        ),
+        expect![[r#"
+            moonc build-package ./lib/hello.mbt -o ./target/wasm-gc/release/build/lib/lib.core -pkg moon_new/lib -std-path $MOON_HOME/lib/core/target/wasm-gc/release/bundle -pkg-sources moon_new/lib:./lib -target wasm-gc
+            moonc build-package ./main/main.mbt -o ./target/wasm-gc/release/build/main/main.core -pkg moon_new/main -is-main -std-path $MOON_HOME/lib/core/target/wasm-gc/release/bundle -i ./target/wasm-gc/release/build/lib/lib.mi:lib -pkg-sources moon_new/main:./main -target wasm-gc -enable-value-tracing
+            moonc link-core $MOON_HOME/lib/core/target/wasm-gc/release/bundle/core.core ./target/wasm-gc/release/build/lib/lib.core ./target/wasm-gc/release/build/main/main.core -main moon_new/main -o ./target/wasm-gc/release/build/main/main.wasm -pkg-config-path ./main/moon.pkg.json -pkg-sources moon_new/lib:./lib -pkg-sources moon_new/main:./main -pkg-sources moonbitlang/core:$MOON_HOME/lib/core -target wasm-gc
+            moonrun ./target/wasm-gc/release/build/main/main.wasm
+        "#]],
+    );
+    check(
+        get_stdout(&dir, ["run", "./main/main.mbt", "--enable-value-tracing"]),
+        expect![[r#"
+            Hello, world!
+            ######MOONBIT_VALUE_TRACING_START######
+            {"name":"a","value":"1","line":"3","start_column":"7","end_column":"8"}
+            ######MOONBIT_VALUE_TRACING_END######
+            ######MOONBIT_VALUE_TRACING_START######
+            {"name":"b","value":"2","line":"4","start_column":"7","end_column":"8"}
+            ######MOONBIT_VALUE_TRACING_END######
+            ######MOONBIT_VALUE_TRACING_START######
+            {"name":"c","value":"3","line":"5","start_column":"7","end_column":"8"}
+            ######MOONBIT_VALUE_TRACING_END######
+            3
+        "#]],
+    );
+
+    // single file
+    check(
+        get_stdout(
+            &dir,
+            ["run", "./main.mbt", "--enable-value-tracing", "--dry-run"],
+        ),
+        expect![[r#"
+            moonc build-package $ROOT/main.mbt -o $ROOT/target/main.core -std-path $MOON_HOME/lib/core/target/wasm-gc/release/bundle -is-main -pkg moon/run/single -g -O0 -source-map -target wasm-gc -enable-value-tracing
+            moonc link-core $MOON_HOME/lib/core/target/wasm-gc/release/bundle/core.core $ROOT/target/main.core -o $ROOT/target/main.wasm -pkg-sources moon/run/single:$ROOT -pkg-sources moonbitlang/core:$MOON_HOME/lib/core -g -O0 -source-map -target wasm-gc
+            moonrun $ROOT/target/main.wasm
+        "#]],
+    );
+    check(
+        get_stdout(&dir, ["run", "./main.mbt", "--enable-value-tracing"]),
+        expect![[r#######"
+            ######MOONBIT_VALUE_TRACING_START######
+            {"name":"a","value":"1","line":"2","start_column":"7","end_column":"8"}
+            ######MOONBIT_VALUE_TRACING_END######
+            ######MOONBIT_VALUE_TRACING_START######
+            {"name":"b","value":"2","line":"3","start_column":"7","end_column":"8"}
+            ######MOONBIT_VALUE_TRACING_END######
+            ######MOONBIT_VALUE_TRACING_START######
+            {"name":"c","value":"3","line":"4","start_column":"7","end_column":"8"}
+            ######MOONBIT_VALUE_TRACING_END######
+            3
+        "#######]],
+    );
+}
diff --git a/crates/moon/tests/test_cases/tracing_value.in/lib/hello.mbt b/crates/moon/tests/test_cases/tracing_value.in/lib/hello.mbt
new file mode 100644
index 00000000..a7ac2bee
--- /dev/null
+++ b/crates/moon/tests/test_cases/tracing_value.in/lib/hello.mbt
@@ -0,0 +1,4 @@
+pub fn hello() -> String {
+  "Hello, world!"
+}
+
diff --git a/crates/moon/tests/test_cases/tracing_value.in/lib/moon.pkg.json b/crates/moon/tests/test_cases/tracing_value.in/lib/moon.pkg.json
new file mode 100644
index 00000000..9585a087
--- /dev/null
+++ b/crates/moon/tests/test_cases/tracing_value.in/lib/moon.pkg.json
@@ -0,0 +1,3 @@
+{
+  "import": {}
+}
diff --git a/crates/moon/tests/test_cases/tracing_value.in/main.mbt b/crates/moon/tests/test_cases/tracing_value.in/main.mbt
new file mode 100644
index 00000000..984b291c
--- /dev/null
+++ b/crates/moon/tests/test_cases/tracing_value.in/main.mbt
@@ -0,0 +1,6 @@
+fn main {
+  let a = 1
+  let b = 2
+  let c = a + b
+  println(c)
+}
diff --git a/crates/moon/tests/test_cases/tracing_value.in/main/main.mbt b/crates/moon/tests/test_cases/tracing_value.in/main/main.mbt
new file mode 100644
index 00000000..0291b343
--- /dev/null
+++ b/crates/moon/tests/test_cases/tracing_value.in/main/main.mbt
@@ -0,0 +1,7 @@
+fn main {
+  println(@lib.hello())
+  let a = 1
+  let b = 2
+  let c = a + b
+  println(c)
+}
diff --git a/crates/moon/tests/test_cases/tracing_value.in/main/moon.pkg.json b/crates/moon/tests/test_cases/tracing_value.in/main/moon.pkg.json
new file mode 100644
index 00000000..4343a4ef
--- /dev/null
+++ b/crates/moon/tests/test_cases/tracing_value.in/main/moon.pkg.json
@@ -0,0 +1,6 @@
+{
+  "is-main": true,
+  "import": {
+    "moon_new/lib": ""
+  }
+}
\ No newline at end of file
diff --git a/crates/moon/tests/test_cases/tracing_value.in/moon.mod.json b/crates/moon/tests/test_cases/tracing_value.in/moon.mod.json
new file mode 100644
index 00000000..b5d8b346
--- /dev/null
+++ b/crates/moon/tests/test_cases/tracing_value.in/moon.mod.json
@@ -0,0 +1,3 @@
+{
+  "name": "moon_new"
+}
diff --git a/crates/moonbuild/src/gen/gen_build.rs b/crates/moonbuild/src/gen/gen_build.rs
index 4a263ce0..d1dd34dd 100644
--- a/crates/moonbuild/src/gen/gen_build.rs
+++ b/crates/moonbuild/src/gen/gen_build.rs
@@ -248,7 +248,6 @@ pub fn gen_build_command(
 
     let command = CommandBuilder::new("moonc")
         .arg("build-package")
-        .arg_with_cond(item.enable_value_tracing, "-enable-value-tracing")
         .args_with_cond(moonc_opt.render, vec!["-error-format", "json"])
         .args_with_cond(
             moonc_opt.build_opt.deny_warn,
@@ -297,6 +296,7 @@ pub fn gen_build_command(
         .arg_with_cond(enable_coverage, "-enable-coverage")
         .arg_with_cond(self_coverage, "-coverage-package-override=@self")
         .args(moonc_opt.extra_build_opt.iter())
+        .arg_with_cond(item.enable_value_tracing, "-enable-value-tracing")
         .build();
     log::debug!("Command: {}", command);
     build.cmdline = Some(command);