diff --git a/CHANGELOG.md b/CHANGELOG.md
index 01f3284eb17e..8a3ab63b37e5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,7 @@
 - `[jest-config]` [**BREAKING**] Stop shipping `jest-environment-jsdom` by default ([#12354](https://github.com/facebook/jest/pull/12354))
 - `[jest-config]` [**BREAKING**] Stop shipping `jest-jasmine2` by default ([#12355](https://github.com/facebook/jest/pull/12355))
 - `[jest-config, @jest/types]` Add `ci` to `GlobalConfig` ([#12378](https://github.com/facebook/jest/pull/12378))
+- `[jest-core]` Pass project config to `globalSetup`/`globalTeardown` function as second argument ([#12440](https://github.com/facebook/jest/pull/12440))
 - `[jest-environment-jsdom]` [**BREAKING**] Upgrade jsdom to 19.0.0 ([#12290](https://github.com/facebook/jest/pull/12290))
 - `[jest-environment-jsdom]` [**BREAKING**] Add default `browser` condition to `exportConditions` for `jsdom` environment ([#11924](https://github.com/facebook/jest/pull/11924))
 - `[jest-environment-node]` [**BREAKING**] Add default `node` and `node-addon` conditions to `exportConditions` for `node` environment ([#11924](https://github.com/facebook/jest/pull/11924))
diff --git a/docs/Configuration.md b/docs/Configuration.md
index ec927f3dbf9d..52d27fc8dbab 100644
--- a/docs/Configuration.md
+++ b/docs/Configuration.md
@@ -456,8 +456,12 @@ _Note: Any global variables that are defined through `globalSetup` can only be r
 
 _Note: While code transformation is applied to the linked setup-file, Jest will **not** transform any code in `node_modules`. This is due to the need to load the actual transformers (e.g. `babel` or `typescript`) to perform transformation._
 
+\_Note: User can access Jest [global config](https://github.com/facebook/jest/blob/main/packages/jest-types/src/Config.ts#L282) and [project config](https://github.com/facebook/jest/blob/main/packages/jest-types/src/Config.ts#L347) as arguments for the function.
+
 Example:
 
+- Without config
+
 ```js title="setup.js"
 // can be synchronous
 module.exports = async () => {
@@ -473,6 +477,26 @@ module.exports = async function () {
 };
 ```
 
+- With config
+
+```js title="setup-with-config.js"
+// can be synchronous
+module.exports = async (globalConfig, projectConfig) => {
+  // ...
+  // Can access and use Jest global config and project config
+  // Set reference to mongod in order to close the server during teardown.
+  global.__MONGOD__ = mongod;
+};
+```
+
+```js title="teardown-with-config.js"
+module.exports = async function (globalConfig, projectConfig) {
+  // ...
+  // Can access and use Jest global config and project config
+  await global.__MONGOD__.stop();
+};
+```
+
 ### `globalTeardown` \[string]
 
 Default: `undefined`
@@ -483,6 +507,8 @@ _Note: A global teardown module configured in a project (using multi-project run
 
 _Note: The same caveat concerning transformation of `node_modules` as for `globalSetup` applies to `globalTeardown`._
 
+\_Note: User can access Jest [global config](https://github.com/facebook/jest/blob/main/packages/jest-types/src/Config.ts#L282) and [project config](https://github.com/facebook/jest/blob/main/packages/jest-types/src/Config.ts#L347) as arguments for the function.
+
 ### `haste` \[object]
 
 Default: `undefined`
diff --git a/e2e/__tests__/globalSetup.test.ts b/e2e/__tests__/globalSetup.test.ts
index 07ceba95a03a..05dee3a4cdfa 100644
--- a/e2e/__tests__/globalSetup.test.ts
+++ b/e2e/__tests__/globalSetup.test.ts
@@ -81,7 +81,7 @@ test('jest throws an error when globalSetup does not export a function', () => {
   );
 });
 
-test('globalSetup function gets jest config object as a parameter', () => {
+test('globalSetup function gets global config object and project config as parameters', () => {
   const setupPath = path.resolve(e2eDir, 'setupWithConfig.js');
 
   const testPathPattern = 'pass';
@@ -89,9 +89,10 @@ test('globalSetup function gets jest config object as a parameter', () => {
   const result = runJest(e2eDir, [
     `--globalSetup=${setupPath}`,
     `--testPathPattern=${testPathPattern}`,
+    '--cache=true',
   ]);
 
-  expect(result.stdout).toBe(testPathPattern);
+  expect(result.stdout).toBe(`${testPathPattern}\ntrue`);
 });
 
 test('should call globalSetup function of multiple projects', () => {
@@ -145,9 +146,10 @@ test('globalSetup works with default export', () => {
   const result = runJest(e2eDir, [
     `--globalSetup=${setupPath}`,
     `--testPathPattern=${testPathPattern}`,
+    '--cache=true',
   ]);
 
-  expect(result.stdout).toBe(testPathPattern);
+  expect(result.stdout).toBe(`${testPathPattern}\ntrue`);
 });
 
 test('globalSetup throws with named export', () => {
diff --git a/e2e/__tests__/globalTeardown.test.ts b/e2e/__tests__/globalTeardown.test.ts
index 8e0bf6e64b33..5f43bc4ecf84 100644
--- a/e2e/__tests__/globalTeardown.test.ts
+++ b/e2e/__tests__/globalTeardown.test.ts
@@ -65,7 +65,7 @@ test('jest throws an error when globalTeardown does not export a function', () =
   );
 });
 
-test('globalTeardown function gets jest config object as a parameter', () => {
+test('globalSetup function gets global config object and project config as parameters', () => {
   const teardownPath = path.resolve(e2eDir, 'teardownWithConfig.js');
 
   const testPathPattern = 'pass';
@@ -73,9 +73,10 @@ test('globalTeardown function gets jest config object as a parameter', () => {
   const result = runJest(e2eDir, [
     `--globalTeardown=${teardownPath}`,
     `--testPathPattern=${testPathPattern}`,
+    '--cache=true',
   ]);
 
-  expect(result.stdout).toBe(testPathPattern);
+  expect(result.stdout).toBe(`${testPathPattern}\ntrue`);
 });
 
 test('should call globalTeardown function of multiple projects', () => {
@@ -113,9 +114,10 @@ test('globalTeardown works with default export', () => {
   const result = runJest(e2eDir, [
     `--globalTeardown=${teardownPath}`,
     `--testPathPattern=${testPathPattern}`,
+    '--cache=true',
   ]);
 
-  expect(result.stdout).toBe(testPathPattern);
+  expect(result.stdout).toBe(`${testPathPattern}\ntrue`);
 });
 
 test('globalTeardown throws with named export', () => {
diff --git a/e2e/global-setup/setupWithConfig.js b/e2e/global-setup/setupWithConfig.js
index 78e2b910c082..c97316ec0b53 100644
--- a/e2e/global-setup/setupWithConfig.js
+++ b/e2e/global-setup/setupWithConfig.js
@@ -5,6 +5,7 @@
  * LICENSE file in the root directory of this source tree.
  */
 
-module.exports = function (jestConfig) {
-  console.log(jestConfig.testPathPattern);
+module.exports = function (globalConfig, projectConfig) {
+  console.log(globalConfig.testPathPattern);
+  console.log(projectConfig.cache);
 };
diff --git a/e2e/global-setup/setupWithDefaultExport.js b/e2e/global-setup/setupWithDefaultExport.js
index ea8cd34e38c1..6a075f9365d2 100644
--- a/e2e/global-setup/setupWithDefaultExport.js
+++ b/e2e/global-setup/setupWithDefaultExport.js
@@ -5,6 +5,7 @@
  * LICENSE file in the root directory of this source tree.
  */
 
-export default function (jestConfig): void {
-  console.log(jestConfig.testPathPattern);
+export default function (globalConfig, projectConfig): void {
+  console.log(globalConfig.testPathPattern);
+  console.log(projectConfig.cache);
 }
diff --git a/e2e/global-teardown/teardownWithConfig.js b/e2e/global-teardown/teardownWithConfig.js
index 78e2b910c082..c97316ec0b53 100644
--- a/e2e/global-teardown/teardownWithConfig.js
+++ b/e2e/global-teardown/teardownWithConfig.js
@@ -5,6 +5,7 @@
  * LICENSE file in the root directory of this source tree.
  */
 
-module.exports = function (jestConfig) {
-  console.log(jestConfig.testPathPattern);
+module.exports = function (globalConfig, projectConfig) {
+  console.log(globalConfig.testPathPattern);
+  console.log(projectConfig.cache);
 };
diff --git a/e2e/global-teardown/teardownWithDefaultExport.js b/e2e/global-teardown/teardownWithDefaultExport.js
index ea8cd34e38c1..6a075f9365d2 100644
--- a/e2e/global-teardown/teardownWithDefaultExport.js
+++ b/e2e/global-teardown/teardownWithDefaultExport.js
@@ -5,6 +5,7 @@
  * LICENSE file in the root directory of this source tree.
  */
 
-export default function (jestConfig): void {
-  console.log(jestConfig.testPathPattern);
+export default function (globalConfig, projectConfig): void {
+  console.log(globalConfig.testPathPattern);
+  console.log(projectConfig.cache);
 }
diff --git a/packages/jest-core/src/runGlobalHook.ts b/packages/jest-core/src/runGlobalHook.ts
index 93cf857ac4cd..80440e59f9a5 100644
--- a/packages/jest-core/src/runGlobalHook.ts
+++ b/packages/jest-core/src/runGlobalHook.ts
@@ -55,7 +55,7 @@ export default async function runGlobalHook({
               );
             }
 
-            await globalModule(globalConfig);
+            await globalModule(globalConfig, projectConfig);
           },
         );
       } catch (error) {