diff --git a/package.json b/package.json
index 488af7e8..37e1bd20 100644
--- a/package.json
+++ b/package.json
@@ -16,7 +16,7 @@
     "build": "pnpm clean && cross-env NODE_ENV=production pnpm webpack",
     "clean": "rm -rf dist",
     "dev": "pnpm clean && pnpm webpack --watch",
-    "jiti": "cross-env JITI_DEBUG=1 JITI_CACHE=false ./bin/jiti.js",
+    "jiti": "cross-env JITI_DEBUG=1 JITI_CACHE=false JITI_REQUIRE_CACHE=false ./bin/jiti.js",
     "jiti:legacy": "cross-env JITI_DEBUG=1 npx node@12 ./bin/jiti.js",
     "lint": "eslint --ext .ts,.js . && prettier -c src lib test stubs",
     "release": "pnpm build && pnpm test && changelogen --release && npm publish && git push --follow-tags",
diff --git a/src/jiti.ts b/src/jiti.ts
index 1d655f70..ece593e1 100644
--- a/src/jiti.ts
+++ b/src/jiti.ts
@@ -57,7 +57,8 @@ export interface JITI extends Require {
 export default function createJITI(
   _filename: string,
   opts: JITIOptions = {},
-  parentModule?: typeof module
+  parentModule?: typeof module,
+  requiredModules?: Record<string, typeof module>
 ): JITI {
   opts = { ...defaults, ...opts };
 
@@ -291,6 +292,9 @@ export default function createJITI(
     }
 
     // Check for CJS cache
+    if (requiredModules && requiredModules[filename]) {
+      return _interopDefault(requiredModules[filename]?.exports);
+    }
     if (opts.requireCache && nativeRequire.cache[filename]) {
       return _interopDefault(nativeRequire.cache[filename]?.exports);
     }
@@ -344,7 +348,7 @@ export default function createJITI(
         parentModule.children.push(mod);
       }
     }
-    mod.require = createJITI(filename, opts, mod);
+    mod.require = createJITI(filename, opts, mod, requiredModules || {});
 
     // @ts-ignore
     mod.path = dirname(filename);
@@ -353,6 +357,9 @@ export default function createJITI(
     mod.paths = Module._nodeModulePaths(mod.path);
 
     // Set CJS cache before eval
+    if (requiredModules) {
+      requiredModules[filename] = mod;
+    }
     if (opts.requireCache) {
       nativeRequire.cache[filename] = mod;
     }
@@ -390,6 +397,11 @@ export default function createJITI(
       opts.onError!(error);
     }
 
+    // Remove from required modules cache
+    if (requiredModules) {
+      delete requiredModules[filename];
+    }
+
     // Check for parse errors
     if (mod.exports && mod.exports.__JITI_ERROR__) {
       const { filename, line, column, code, message } =