diff --git a/src/test/index.spec.ts b/src/test/index.spec.ts
index a9d7b91f9..ed9f19c94 100644
--- a/src/test/index.spec.ts
+++ b/src/test/index.spec.ts
@@ -103,6 +103,7 @@ test.beforeAll(async () => {
 test.suite('ts-node', (test) => {
   const cmd = `"${BIN_PATH}" --project "${PROJECT}"`;
   const cmdNoProject = `"${BIN_PATH}"`;
+  const cmdEsmLoaderNoProject = `node --loader ts-node/esm`;
 
   test('should export the correct version', () => {
     expect(VERSION).to.equal(require('../../package.json').version);
@@ -367,6 +368,17 @@ test.suite('ts-node', (test) => {
       expect(stdout).to.contain('Hello World!');
     });
 
+    test('swc transpiler supports native ESM emit', async () => {
+      const { err, stdout } = await exec(
+        `${cmdEsmLoaderNoProject} ./index.ts`,
+        {
+          cwd: resolve(TEST_DIR, 'transpile-only-swc-native-esm'),
+        }
+      );
+      expect(err).to.equal(null);
+      expect(stdout).to.contain('Hello file://');
+    });
+
     test('should pipe into `ts-node` and evaluate', async () => {
       const execPromise = exec(cmd);
       execPromise.child.stdin!.end("console.log('hello')");
diff --git a/src/transpilers/swc.ts b/src/transpilers/swc.ts
index c9528c512..9b7361a08 100644
--- a/src/transpilers/swc.ts
+++ b/src/transpilers/swc.ts
@@ -58,21 +58,23 @@ export function create(createOptions: SwcTranspilerOptions): Transpiler {
   function createSwcOptions(isTsx: boolean): swcTypes.Options {
     const swcTarget = targetMapping.get(target!) ?? 'es3';
     const keepClassNames = target! >= /* ts.ScriptTarget.ES2016 */ 3;
-    const moduleConfig = {
-      noInterop: !esModuleInterop,
-      type:
-        module === ModuleKind.CommonJS
-          ? 'commonjs'
-          : module === ModuleKind.AMD
-          ? 'amd'
-          : module === ModuleKind.UMD
-          ? 'umd'
-          : undefined,
-    } as swcTypes.ModuleConfig;
+    const moduleType =
+      module === ModuleKind.CommonJS
+        ? 'commonjs'
+        : module === ModuleKind.AMD
+        ? 'amd'
+        : module === ModuleKind.UMD
+        ? 'umd'
+        : undefined;
     return {
       sourceMaps: sourceMap,
       // isModule: true,
-      module: moduleConfig,
+      module: moduleType
+        ? ({
+            noInterop: !esModuleInterop,
+            type: moduleType,
+          } as swcTypes.ModuleConfig)
+        : undefined,
       swcrc: false,
       jsc: {
         externalHelpers: importHelpers,
diff --git a/tests/transpile-only-swc-via-tsconfig/index.ts b/tests/transpile-only-swc-via-tsconfig/index.ts
index e2f5a1e22..b7dfa09cd 100644
--- a/tests/transpile-only-swc-via-tsconfig/index.ts
+++ b/tests/transpile-only-swc-via-tsconfig/index.ts
@@ -7,3 +7,7 @@ class World {}
 parseInt(1101, 2);
 const x: number = `Hello ${World.name}!`;
 console.log(x);
+
+// test module type emit
+import { readFileSync } from 'fs';
+readFileSync;
diff --git a/tests/transpile-only-swc-via-tsconfig/tsconfig.json b/tests/transpile-only-swc-via-tsconfig/tsconfig.json
index e0e3c9a90..5097d63ac 100644
--- a/tests/transpile-only-swc-via-tsconfig/tsconfig.json
+++ b/tests/transpile-only-swc-via-tsconfig/tsconfig.json
@@ -5,7 +5,7 @@
   },
   "compilerOptions": {
     "target": "ES2018",
-    "module": "ESNext",
+    "module": "CommonJS",
     "allowJs": true,
     "jsx": "react",
     "experimentalDecorators": true
diff --git a/tests/transpile-only-swc/index.ts b/tests/transpile-only-swc/index.ts
index e2f5a1e22..b7dfa09cd 100644
--- a/tests/transpile-only-swc/index.ts
+++ b/tests/transpile-only-swc/index.ts
@@ -7,3 +7,7 @@ class World {}
 parseInt(1101, 2);
 const x: number = `Hello ${World.name}!`;
 console.log(x);
+
+// test module type emit
+import { readFileSync } from 'fs';
+readFileSync;
diff --git a/tests/transpile-only-swc/tsconfig.json b/tests/transpile-only-swc/tsconfig.json
index c1cf4bccd..78c35a9ca 100644
--- a/tests/transpile-only-swc/tsconfig.json
+++ b/tests/transpile-only-swc/tsconfig.json
@@ -1,7 +1,7 @@
 {
   "compilerOptions": {
     "target": "ES2018",
-    "module": "ESNext",
+    "module": "CommonJS",
     "allowJs": true,
     "jsx": "react",
     "experimentalDecorators": true