diff --git a/src/core/atom.ts b/src/core/atom.ts
index 6fd8fecdfa..106f79897c 100644
--- a/src/core/atom.ts
+++ b/src/core/atom.ts
@@ -1,4 +1,10 @@
-type Awaited<T> = T extends Promise<infer V> ? Awaited<V> : T
+type Awaited<T> =
+    T extends null | undefined ? T : // special case for `null | undefined` when not in `--strictNullChecks` mode
+        T extends object & { then(onfulfilled: infer F): any } ? // `await` only unwraps object types with a callable `then`. Non-object types are not unwrapped
+            F extends ((value: infer V, ...args: any) => any) ? // if the argument to `then` is callable, extracts the first argument
+                Awaited<V> : // recursively unwrap the value
+                never : // the argument to `then` was not callable
+        T; // non-object or non-thenable
 
 interface Getter {
   <Value>(atom: Atom<Value | Promise<Value>>): Value
diff --git a/src/core/store.ts b/src/core/store.ts
index 8889783314..87a5b362bd 100644
--- a/src/core/store.ts
+++ b/src/core/store.ts
@@ -8,7 +8,13 @@ import {
 } from './suspensePromise'
 import type { SuspensePromise } from './suspensePromise'
 
-type Awaited<T> = T extends Promise<infer V> ? Awaited<V> : T
+type Awaited<T> =
+    T extends null | undefined ? T : // special case for `null | undefined` when not in `--strictNullChecks` mode
+        T extends object & { then(onfulfilled: infer F): any } ? // `await` only unwraps object types with a callable `then`. Non-object types are not unwrapped
+            F extends ((value: infer V, ...args: any) => any) ? // if the argument to `then` is callable, extracts the first argument
+                Awaited<V> : // recursively unwrap the value
+                never : // the argument to `then` was not callable
+        T; // non-object or non-thenable
 
 type AnyAtomValue = unknown
 type AnyAtom = Atom<AnyAtomValue>
diff --git a/src/core/useAtom.ts b/src/core/useAtom.ts
index c3c33cba5e..2c01204ebf 100644
--- a/src/core/useAtom.ts
+++ b/src/core/useAtom.ts
@@ -2,7 +2,13 @@ import type { Atom, Scope, SetAtom, WritableAtom } from './atom'
 import { useAtomValue } from './useAtomValue'
 import { useSetAtom } from './useSetAtom'
 
-type Awaited<T> = T extends Promise<infer V> ? Awaited<V> : T
+type Awaited<T> =
+    T extends null | undefined ? T : // special case for `null | undefined` when not in `--strictNullChecks` mode
+        T extends object & { then(onfulfilled: infer F): any } ? // `await` only unwraps object types with a callable `then`. Non-object types are not unwrapped
+            F extends ((value: infer V, ...args: any) => any) ? // if the argument to `then` is callable, extracts the first argument
+                Awaited<V> : // recursively unwrap the value
+                never : // the argument to `then` was not callable
+        T; // non-object or non-thenable
 
 export function useAtom<Value, Update, Result extends void | Promise<void>>(
   atom: WritableAtom<Value, Update, Result>,
diff --git a/src/core/useAtomValue.ts b/src/core/useAtomValue.ts
index 32d76ab327..612b4e89c0 100644
--- a/src/core/useAtomValue.ts
+++ b/src/core/useAtomValue.ts
@@ -11,7 +11,13 @@ import { getScopeContext } from './contexts'
 import { COMMIT_ATOM, READ_ATOM, SUBSCRIBE_ATOM } from './store'
 import type { VersionObject } from './store'
 
-type Awaited<T> = T extends Promise<infer V> ? Awaited<V> : T
+type Awaited<T> =
+    T extends null | undefined ? T : // special case for `null | undefined` when not in `--strictNullChecks` mode
+        T extends object & { then(onfulfilled: infer F): any } ? // `await` only unwraps object types with a callable `then`. Non-object types are not unwrapped
+            F extends ((value: infer V, ...args: any) => any) ? // if the argument to `then` is callable, extracts the first argument
+                Awaited<V> : // recursively unwrap the value
+                never : // the argument to `then` was not callable
+        T; // non-object or non-thenable
 
 export function useAtomValue<Value>(
   atom: Atom<Value>,
diff --git a/src/utils/loadable.ts b/src/utils/loadable.ts
index 494b874e0d..abb8b40cc3 100644
--- a/src/utils/loadable.ts
+++ b/src/utils/loadable.ts
@@ -2,7 +2,13 @@ import { atom } from 'jotai'
 import type { Atom } from 'jotai'
 import { createMemoizeAtom } from './weakCache'
 
-type Awaited<T> = T extends Promise<infer V> ? Awaited<V> : T
+type Awaited<T> =
+    T extends null | undefined ? T : // special case for `null | undefined` when not in `--strictNullChecks` mode
+        T extends object & { then(onfulfilled: infer F): any } ? // `await` only unwraps object types with a callable `then`. Non-object types are not unwrapped
+            F extends ((value: infer V, ...args: any) => any) ? // if the argument to `then` is callable, extracts the first argument
+                Awaited<V> : // recursively unwrap the value
+                never : // the argument to `then` was not callable
+        T; // non-object or non-thenable
 
 const memoizeAtom = createMemoizeAtom()
 
diff --git a/src/utils/selectAtom.ts b/src/utils/selectAtom.ts
index c393bfc308..e469a473e5 100644
--- a/src/utils/selectAtom.ts
+++ b/src/utils/selectAtom.ts
@@ -2,7 +2,13 @@ import { atom } from 'jotai'
 import type { Atom } from 'jotai'
 import { createMemoizeAtom } from './weakCache'
 
-type Awaited<T> = T extends Promise<infer V> ? Awaited<V> : T
+type Awaited<T> =
+    T extends null | undefined ? T : // special case for `null | undefined` when not in `--strictNullChecks` mode
+        T extends object & { then(onfulfilled: infer F): any } ? // `await` only unwraps object types with a callable `then`. Non-object types are not unwrapped
+            F extends ((value: infer V, ...args: any) => any) ? // if the argument to `then` is callable, extracts the first argument
+                Awaited<V> : // recursively unwrap the value
+                never : // the argument to `then` was not callable
+        T; // non-object or non-thenable
 
 const memoizeAtom = createMemoizeAtom()
 
diff --git a/src/utils/waitForAll.ts b/src/utils/waitForAll.ts
index b360b78bf5..3567ca7218 100644
--- a/src/utils/waitForAll.ts
+++ b/src/utils/waitForAll.ts
@@ -5,7 +5,13 @@ import { createMemoizeAtom } from './weakCache'
 const memoizeAtom = createMemoizeAtom()
 const emptyArrayAtom = atom(() => [])
 
-type Awaited<T> = T extends Promise<infer V> ? Awaited<V> : T
+type Awaited<T> =
+    T extends null | undefined ? T : // special case for `null | undefined` when not in `--strictNullChecks` mode
+        T extends object & { then(onfulfilled: infer F): any } ? // `await` only unwraps object types with a callable `then`. Non-object types are not unwrapped
+            F extends ((value: infer V, ...args: any) => any) ? // if the argument to `then` is callable, extracts the first argument
+                Awaited<V> : // recursively unwrap the value
+                never : // the argument to `then` was not callable
+        T; // non-object or non-thenable
 type ResolveAtom<T> = T extends Atom<infer V> ? V : T
 type AwaitedAtom<T> = Awaited<ResolveAtom<T>>