diff --git a/src/node_buffer.cc b/src/node_buffer.cc
index 5b2186feb8c707..aec97f15e2c809 100644
--- a/src/node_buffer.cc
+++ b/src/node_buffer.cc
@@ -497,6 +497,7 @@ MaybeLocal<Object> New(Environment* env,
     if (length > kMaxLength) {
       Isolate* isolate(env->isolate());
       isolate->ThrowException(ERR_BUFFER_TOO_LARGE(isolate));
+      free(data);
       return Local<Object>();
     }
   }
diff --git a/test/pummel/test-v8-serialize-buffer-too-large.js b/test/pummel/test-v8-serialize-buffer-too-large.js
new file mode 100755
index 00000000000000..3498b9b18ad6df
--- /dev/null
+++ b/test/pummel/test-v8-serialize-buffer-too-large.js
@@ -0,0 +1,32 @@
+'use strict';
+const common = require('../common');
+
+// On IBMi, the rss memory always returns zero
+if (common.isIBMi)
+  common.skip('On IBMi, the rss memory always returns zero');
+
+const v8 = require('v8');
+const { kMaxLength } = require('buffer');
+
+const PADDING_STRING = 'a'.repeat(3000);
+
+const i = 22;
+const toSerialize = {};
+
+for (let j = 0; j < 2 ** i; j++) {
+  toSerialize[j] = PADDING_STRING;
+}
+
+const assert = require('assert');
+
+const rssBefore = process.memoryUsage.rss();
+
+// Fail to serialize a few times.
+const expectedError = { code: 'ERR_BUFFER_TOO_LARGE' };
+assert.throws(() => v8.serialize(toSerialize), expectedError);
+assert.throws(() => v8.serialize(toSerialize), expectedError);
+assert.throws(() => v8.serialize(toSerialize), expectedError);
+
+// Check that (at least some of) the memory got freed.
+const rssAfter = process.memoryUsage.rss();
+assert(rssAfter - rssBefore <= 2 * kMaxLength);