diff --git a/packages/reactivity/__tests__/reactive.spec.ts b/packages/reactivity/__tests__/reactive.spec.ts
index 1c25c49121b..a90ea27f138 100644
--- a/packages/reactivity/__tests__/reactive.spec.ts
+++ b/packages/reactivity/__tests__/reactive.spec.ts
@@ -382,4 +382,13 @@ describe('reactivity/reactive', () => {
       count++
     }
   })
+
+  // #11696
+  test('should use correct receiver on set handler for refs', () => {
+    const a = reactive(ref(1))
+    effect(() => a.value)
+    expect(() => {
+      a.value++
+    }).not.toThrow()
+  })
 })
diff --git a/packages/reactivity/src/baseHandlers.ts b/packages/reactivity/src/baseHandlers.ts
index 8f21e354002..5916c0b5d81 100644
--- a/packages/reactivity/src/baseHandlers.ts
+++ b/packages/reactivity/src/baseHandlers.ts
@@ -165,7 +165,12 @@ class MutableReactiveHandler extends BaseReactiveHandler {
       isArray(target) && isIntegerKey(key)
         ? Number(key) < target.length
         : hasOwn(target, key)
-    const result = Reflect.set(target, key, value, receiver)
+    const result = Reflect.set(
+      target,
+      key,
+      value,
+      isRef(target) ? target : receiver,
+    )
     // don't trigger if target is something up in the prototype chain of original
     if (target === toRaw(receiver)) {
       if (!hadKey) {