diff --git a/CHANGELOG.md b/CHANGELOG.md
index 884d023a78ee..8e78f4e509b2 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -39,6 +39,7 @@
 - `[jest-phabricator]` [**BREAKING**] Migrate to ESM ([#12341](https://github.com/facebook/jest/pull/12341))
 - `[jest-resolve]` [**BREAKING**] Make `requireResolveFunction` argument mandatory ([#12353](https://github.com/facebook/jest/pull/12353))
 - `[jest-runner]` [**BREAKING**] Remove some type exports from `@jest/test-result` ([#12353](https://github.com/facebook/jest/pull/12353))
+- `[jest-serializer]` [**BREAKING**] Deprecate package in favour of using `v8` APIs directly ([#12391](https://github.com/facebook/jest/pull/12391))
 - `[jest-snapshot]` [**BREAKING**] Migrate to ESM ([#12342](https://github.com/facebook/jest/pull/12342))
 - `[jest-transform]` Update `write-file-atomic` to v4 ([#12357](https://github.com/facebook/jest/pull/12357))
 - `[jest]` Use `index.ts` instead of `jest.ts` as main export ([#12329](https://github.com/facebook/jest/pull/12329))
diff --git a/packages/jest-haste-map/package.json b/packages/jest-haste-map/package.json
index 696ac675363a..dba31adfb4ae 100644
--- a/packages/jest-haste-map/package.json
+++ b/packages/jest-haste-map/package.json
@@ -24,7 +24,6 @@
     "fb-watchman": "^2.0.0",
     "graceful-fs": "^4.2.9",
     "jest-regex-util": "^28.0.0-alpha.0",
-    "jest-serializer": "^28.0.0-alpha.0",
     "jest-util": "^28.0.0-alpha.0",
     "jest-worker": "^28.0.0-alpha.0",
     "micromatch": "^4.0.4",
diff --git a/packages/jest-haste-map/src/index.ts b/packages/jest-haste-map/src/index.ts
index b5c9b7ad6c17..cfe65b017109 100644
--- a/packages/jest-haste-map/src/index.ts
+++ b/packages/jest-haste-map/src/index.ts
@@ -12,10 +12,10 @@ import {createHash} from 'crypto';
 import {EventEmitter} from 'events';
 import {tmpdir} from 'os';
 import * as path from 'path';
-import type {Stats} from 'graceful-fs';
+import {deserialize, serialize} from 'v8';
+import {Stats, readFileSync, writeFileSync} from 'graceful-fs';
 import type {Config} from '@jest/types';
 import {escapePathForRegex} from 'jest-regex-util';
-import serializer from 'jest-serializer';
 import {Worker} from 'jest-worker';
 import HasteFS from './HasteFS';
 import HasteModuleMap from './ModuleMap';
@@ -402,7 +402,7 @@ export default class HasteMap extends EventEmitter {
     let hasteMap: InternalHasteMap;
 
     try {
-      hasteMap = serializer.readFileSync(this._cachePath) as any;
+      hasteMap = deserialize(readFileSync(this._cachePath));
     } catch {
       hasteMap = this._createEmptyMap();
     }
@@ -729,7 +729,7 @@ export default class HasteMap extends EventEmitter {
    * 4. serialize the new `HasteMap` in a cache file.
    */
   private _persist(hasteMap: InternalHasteMap) {
-    serializer.writeFileSync(this._cachePath, hasteMap);
+    writeFileSync(this._cachePath, serialize(hasteMap));
   }
 
   /**
diff --git a/packages/jest-haste-map/tsconfig.json b/packages/jest-haste-map/tsconfig.json
index 6788585ebdeb..5fcbf9a63cd9 100644
--- a/packages/jest-haste-map/tsconfig.json
+++ b/packages/jest-haste-map/tsconfig.json
@@ -8,7 +8,6 @@
   "exclude": ["./**/__tests__/**/*"],
   "references": [
     {"path": "../jest-regex-util"},
-    {"path": "../jest-serializer"},
     {"path": "../jest-types"},
     {"path": "../jest-util"},
     {"path": "../jest-worker"},
diff --git a/packages/jest-serializer/README.md b/packages/jest-serializer/README.md
index 43c8bb13a187..5eee3c1c9cfc 100644
--- a/packages/jest-serializer/README.md
+++ b/packages/jest-serializer/README.md
@@ -1,6 +1,8 @@
 # jest-serializer
 
-Module for serializing and deserializing object into memory and disk. By default, the `v8` implementations are used, but if not present, it defaults to `JSON` implementation. Both serializers have the advantage of being able to serialize `Map`, `Set`, `undefined`, `NaN`, etc, although the JSON one does it through a replacer/reviver.
+> DEPRECATED: Use `v8` APIs directly: https://nodejs.org/api/v8.html#serialization-api
+
+Module for serializing and deserializing object into memory and disk. The Node core `v8` implementations are used. This seriializer have the advantage of being able to serialize `Map`, `Set`, `undefined`, `NaN`, etc..
 
 ## Install
 
diff --git a/yarn.lock b/yarn.lock
index 3c5d3323f16c..7605889be940 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -13110,7 +13110,6 @@ __metadata:
     fsevents: ^2.3.2
     graceful-fs: ^4.2.9
     jest-regex-util: ^28.0.0-alpha.0
-    jest-serializer: ^28.0.0-alpha.0
     jest-util: ^28.0.0-alpha.0
     jest-worker: ^28.0.0-alpha.0
     micromatch: ^4.0.4
@@ -13430,16 +13429,6 @@ __metadata:
   languageName: unknown
   linkType: soft
 
-"jest-serializer@^28.0.0-alpha.0, jest-serializer@workspace:packages/jest-serializer":
-  version: 0.0.0-use.local
-  resolution: "jest-serializer@workspace:packages/jest-serializer"
-  dependencies:
-    "@types/graceful-fs": ^4.1.3
-    "@types/node": "*"
-    graceful-fs: ^4.2.9
-  languageName: unknown
-  linkType: soft
-
 "jest-serializer@npm:^26.6.2":
   version: 26.6.2
   resolution: "jest-serializer@npm:26.6.2"
@@ -13450,6 +13439,16 @@ __metadata:
   languageName: node
   linkType: hard
 
+"jest-serializer@workspace:packages/jest-serializer":
+  version: 0.0.0-use.local
+  resolution: "jest-serializer@workspace:packages/jest-serializer"
+  dependencies:
+    "@types/graceful-fs": ^4.1.3
+    "@types/node": "*"
+    graceful-fs: ^4.2.9
+  languageName: unknown
+  linkType: soft
+
 "jest-silent-reporter@npm:^0.5.0":
   version: 0.5.0
   resolution: "jest-silent-reporter@npm:0.5.0"