diff --git a/CHANGELOG.md b/CHANGELOG.md
index bb8daded58bc..0585c1ec3104 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -93,6 +93,7 @@
 - `[jest-runtime]` Prevent global module registry from leaking into `isolateModules` registry ([#10963](https://github.com/facebook/jest/pull/10963))
 - `[jest-runtime]` Refactor to prevent race condition when linking and evaluating ES Modules ([#11150](https://github.com/facebook/jest/pull/11150))
 - `[jest-runtime]` Throw correct error when attempting to load ESM via `require` ([#11260](https://github.com/facebook/jest/pull/11260))
+- `[jest-runtime]` Do not cache modules that throw during evaluation ([#11263](https://github.com/facebook/jest/pull/11263))
 - `[jest-transform]` Show enhanced `SyntaxError` message for all `SyntaxError`s ([#10749](https://github.com/facebook/jest/pull/10749))
 - `[jest-transform]` [**BREAKING**] Refactor API to pass an options bag around rather than multiple boolean options ([#10753](https://github.com/facebook/jest/pull/10753))
 - `[jest-transform]` [**BREAKING**] Refactor API of transformers to pass an options bag rather than separate `config` and other options ([#10834](https://github.com/facebook/jest/pull/10834))
diff --git a/packages/jest-runtime/src/__tests__/runtime_require_module.test.js b/packages/jest-runtime/src/__tests__/runtime_require_module.test.js
index 453373c895d8..937d1bc14350 100644
--- a/packages/jest-runtime/src/__tests__/runtime_require_module.test.js
+++ b/packages/jest-runtime/src/__tests__/runtime_require_module.test.js
@@ -349,6 +349,16 @@ describe('Runtime requireModule', () => {
     expect(Module1).toBe(Module2);
   });
 
+  it('does not cache modules that throw during evaluation', async () => {
+    const runtime = await createRuntime(__filename);
+    expect(() =>
+      runtime.requireModule(runtime.__mockRootPath, 'throwing'),
+    ).toThrowError();
+    expect(() =>
+      runtime.requireModule(runtime.__mockRootPath, 'throwing'),
+    ).toThrowError();
+  });
+
   onNodeVersions('>=12.12.0', () => {
     it('overrides module.createRequire', async () => {
       const runtime = await createRuntime(__filename);
diff --git a/packages/jest-runtime/src/index.ts b/packages/jest-runtime/src/index.ts
index e3de7866eae9..cbe95fd67bde 100644
--- a/packages/jest-runtime/src/index.ts
+++ b/packages/jest-runtime/src/index.ts
@@ -692,14 +692,19 @@ export default class Runtime {
     };
     moduleRegistry.set(modulePath, localModule);
 
-    this._loadModule(
-      localModule,
-      from,
-      moduleName,
-      modulePath,
-      options,
-      moduleRegistry,
-    );
+    try {
+      this._loadModule(
+        localModule,
+        from,
+        moduleName,
+        modulePath,
+        options,
+        moduleRegistry,
+      );
+    } catch (error: unknown) {
+      moduleRegistry.delete(modulePath);
+      throw error;
+    }
 
     return localModule.exports;
   }