diff --git a/doc/api/cli.md b/doc/api/cli.md
index a2861024659af2..09792ad126311a 100644
--- a/doc/api/cli.md
+++ b/doc/api/cli.md
@@ -1117,6 +1117,20 @@ added: v18.0.0
 Configures the test runner to only execute top level tests that have the `only`
 option set.
 
+### `--thread-max-old-space-size`
+
+<!-- YAML
+added: REPLACEME
+-->
+
+Sets the max memory size of V8's old memory section for the main thread (in
+megabytes). As memory consumption approaches the limit, V8 will spend more time
+on garbage collection in an effort to free unused memory.
+
+Unlike [`--max-old-space-size`][], this option doesn't affect any additional
+[worker threads][]. To configure the old space size for worker threads, pass in
+an appropriate [`resourceLimits`][] to their constructor.
+
 ### `--throw-deprecation`
 
 <!-- YAML
@@ -1710,6 +1724,7 @@ Node.js options that are allowed are:
 * `--secure-heap-min`
 * `--secure-heap`
 * `--test-only`
+* `--thread-max-old-space-size`
 * `--throw-deprecation`
 * `--title`
 * `--tls-cipher-list`
@@ -2042,6 +2057,9 @@ Sets the max memory size of V8's old memory section. As memory
 consumption approaches the limit, V8 will spend more time on
 garbage collection in an effort to free unused memory.
 
+Unlike [`--thread-max-old-space-size`][], this sets the max old space size of
+all [worker threads][].
+
 On a machine with 2 GiB of memory, consider setting this to
 1536 (1.5 GiB) to leave some memory for other uses and avoid swapping.
 
@@ -2093,8 +2111,10 @@ done
 [`--diagnostic-dir`]: #--diagnostic-dirdirectory
 [`--experimental-wasm-modules`]: #--experimental-wasm-modules
 [`--heap-prof-dir`]: #--heap-prof-dir
+[`--max-old-space-size`]: #--max-old-space-sizesize-in-megabytes
 [`--openssl-config`]: #--openssl-configfile
 [`--redirect-warnings`]: #--redirect-warningsfile
+[`--thread-max-old-space-size`]: #--thread-max-old-space-size
 [`Atomics.wait()`]: https://developer.mozilla.org/en-US/docs/Web/JavaScript/Reference/Global_Objects/Atomics/wait
 [`Buffer`]: buffer.md#class-buffer
 [`CRYPTO_secure_malloc_init`]: https://www.openssl.org/docs/man1.1.0/man3/CRYPTO_secure_malloc_init.html
@@ -2107,6 +2127,7 @@ done
 [`dnsPromises.lookup()`]: dns.md#dnspromiseslookuphostname-options
 [`import` specifier]: esm.md#import-specifiers
 [`process.setUncaughtExceptionCaptureCallback()`]: process.md#processsetuncaughtexceptioncapturecallbackfn
+[`resourceLimits`]: worker_threads.md#new-workerfilename-options
 [`tls.DEFAULT_MAX_VERSION`]: tls.md#tlsdefault_max_version
 [`tls.DEFAULT_MIN_VERSION`]: tls.md#tlsdefault_min_version
 [`unhandledRejection`]: process.md#event-unhandledrejection
@@ -2126,3 +2147,4 @@ done
 [semi-space]: https://www.memorymanagement.org/glossary/s.html#semi.space
 [timezone IDs]: https://en.wikipedia.org/wiki/List_of_tz_database_time_zones
 [ways that `TZ` is handled in other environments]: https://www.gnu.org/software/libc/manual/html_node/TZ-Variable.html
+[worker threads]: worker_threads.md
diff --git a/doc/node.1 b/doc/node.1
index 6ac0d6758342fb..e4ba3ab87f2027 100644
--- a/doc/node.1
+++ b/doc/node.1
@@ -391,6 +391,11 @@ Starts the Node.js command line test runner.
 Configures the test runner to only execute top level tests that have the `only`
 option set.
 .
+.It Fl -thread-max-old-space-size
+Sets the max memory size of V8's old memory section for the main thread (in
+megabytes). As memory consumption approaches the limit, V8 will spend more time
+on garbage collection in an effort to free unused memory.
+.
 .It Fl -throw-deprecation
 Throw errors for deprecations.
 .
diff --git a/src/api/environment.cc b/src/api/environment.cc
index 3257f160bdf954..5a5edda5aa056b 100644
--- a/src/api/environment.cc
+++ b/src/api/environment.cc
@@ -330,7 +330,9 @@ IsolateData* CreateIsolateData(Isolate* isolate,
                                uv_loop_t* loop,
                                MultiIsolatePlatform* platform,
                                ArrayBufferAllocator* allocator) {
-  return new IsolateData(isolate, loop, platform, allocator);
+  auto options = std::make_shared<PerIsolateOptions>(
+      *(per_process::cli_options->per_isolate));
+  return new IsolateData(isolate, loop, std::move(options), platform, allocator);
 }
 
 void FreeIsolateData(IsolateData* isolate_data) {
diff --git a/src/env.cc b/src/env.cc
index e4a708ec1de645..346a7a34152851 100644
--- a/src/env.cc
+++ b/src/env.cc
@@ -367,17 +367,16 @@ void IsolateData::CreateProperties() {
 
 IsolateData::IsolateData(Isolate* isolate,
                          uv_loop_t* event_loop,
+                         std::shared_ptr<PerIsolateOptions> options,
                          MultiIsolatePlatform* platform,
                          ArrayBufferAllocator* node_allocator,
                          const std::vector<size_t>* indexes)
     : isolate_(isolate),
       event_loop_(event_loop),
+      options_(options),
       node_allocator_(node_allocator == nullptr ? nullptr
                                                 : node_allocator->GetImpl()),
       platform_(platform) {
-  options_.reset(
-      new PerIsolateOptions(*(per_process::cli_options->per_isolate)));
-
   if (indexes == nullptr) {
     CreateProperties();
   } else {
diff --git a/src/env.h b/src/env.h
index 04528583cb47f4..9665dc176f188e 100644
--- a/src/env.h
+++ b/src/env.h
@@ -579,6 +579,7 @@ class NODE_EXTERN_PRIVATE IsolateData : public MemoryRetainer {
  public:
   IsolateData(v8::Isolate* isolate,
               uv_loop_t* event_loop,
+              std::shared_ptr<PerIsolateOptions> options,
               MultiIsolatePlatform* platform = nullptr,
               ArrayBufferAllocator* node_allocator = nullptr,
               const std::vector<size_t>* indexes = nullptr);
@@ -642,9 +643,9 @@ class NODE_EXTERN_PRIVATE IsolateData : public MemoryRetainer {
 
   v8::Isolate* const isolate_;
   uv_loop_t* const event_loop_;
+  std::shared_ptr<PerIsolateOptions> options_;
   NodeArrayBufferAllocator* const node_allocator_;
   MultiIsolatePlatform* platform_;
-  std::shared_ptr<PerIsolateOptions> options_;
   worker::Worker* worker_context_ = nullptr;
 };
 
diff --git a/src/node_main_instance.cc b/src/node_main_instance.cc
index 7e89cfc51f5e4b..95cf982a152b2b 100644
--- a/src/node_main_instance.cc
+++ b/src/node_main_instance.cc
@@ -40,8 +40,10 @@ NodeMainInstance::NodeMainInstance(Isolate* isolate,
       platform_(platform),
       isolate_data_(nullptr),
       snapshot_data_(nullptr) {
-  isolate_data_ =
-      std::make_unique<IsolateData>(isolate_, event_loop, platform, nullptr);
+  auto options = std::make_shared<PerIsolateOptions>(
+      *(per_process::cli_options->per_isolate));
+  isolate_data_ = std::make_unique<IsolateData>(
+      isolate_, event_loop, std::move(options), platform, nullptr);
 
   SetIsolateMiscHandlers(isolate_, {});
 }
@@ -77,20 +79,33 @@ NodeMainInstance::NodeMainInstance(const SnapshotData* snapshot_data,
 
   isolate_ = Isolate::Allocate();
   CHECK_NOT_NULL(isolate_);
+
+  auto options = std::make_shared<PerIsolateOptions>(
+      *(per_process::cli_options->per_isolate));
+
   // Register the isolate on the platform before the isolate gets initialized,
   // so that the isolate can access the platform during initialization.
   platform->RegisterIsolate(isolate_, event_loop);
   SetIsolateCreateParamsForNode(isolate_params_.get());
+
+  size_t thread_max_old_space_size = options->thread_max_old_space_size;
+  if (thread_max_old_space_size != 0) {
+    isolate_params_->constraints.set_max_old_generation_size_in_bytes(
+        thread_max_old_space_size * 1024 * 1024);
+  }
+
   Isolate::Initialize(isolate_, *isolate_params_);
 
   // If the indexes are not nullptr, we are not deserializing
   isolate_data_ = std::make_unique<IsolateData>(
       isolate_,
       event_loop,
+      std::move(options),
       platform,
       array_buffer_allocator_.get(),
       snapshot_data == nullptr ? nullptr
                                : &(snapshot_data->isolate_data_indices));
+
   IsolateSettings s;
   SetIsolateMiscHandlers(isolate_, s);
   if (snapshot_data == nullptr) {
diff --git a/src/node_options.cc b/src/node_options.cc
index 25e4caf98ad210..985844d62bbab8 100644
--- a/src/node_options.cc
+++ b/src/node_options.cc
@@ -657,6 +657,12 @@ PerIsolateOptionsParser::PerIsolateOptionsParser(
             &PerIsolateOptions::track_heap_objects,
             kAllowedInEnvironment);
 
+  AddOption(
+      "--thread-max-old-space-size",
+      "set the maximum old space heap size (in megabytes) for this isolate",
+      &PerIsolateOptions::thread_max_old_space_size,
+      kAllowedInEnvironment);
+
   // Explicitly add some V8 flags to mark them as allowed in NODE_OPTIONS.
   AddOption("--abort-on-uncaught-exception",
             "aborting instead of exiting causes a core file to be generated "
diff --git a/src/node_options.h b/src/node_options.h
index a4744fb9e5b8a5..c98965359ceecc 100644
--- a/src/node_options.h
+++ b/src/node_options.h
@@ -207,6 +207,7 @@ class PerIsolateOptions : public Options {
   bool report_uncaught_exception = false;
   bool report_on_signal = false;
   bool experimental_shadow_realm = false;
+  size_t thread_max_old_space_size = 0;
   std::string report_signal = "SIGUSR2";
   inline EnvironmentOptions* get_per_env_options();
   void CheckOptions(std::vector<std::string>* errors) override;
diff --git a/test/common/allocate-and-check-limits.js b/test/common/allocate-and-check-limits.js
new file mode 100644
index 00000000000000..939fbe9d0922c8
--- /dev/null
+++ b/test/common/allocate-and-check-limits.js
@@ -0,0 +1,34 @@
+'use strict';
+const assert = require('assert');
+const v8 = require('v8');
+
+function allocateUntilCrash(resourceLimits) {
+  const array = [];
+  while (true) {
+    const usedMB = v8.getHeapStatistics().used_heap_size / 1024 / 1024;
+    const maxReservedSize = resourceLimits.maxOldGenerationSizeMb +
+                            resourceLimits.maxYoungGenerationSizeMb;
+    assert(usedMB < maxReservedSize);
+
+    let seenSpaces = 0;
+    for (const { space_name, space_size } of v8.getHeapSpaceStatistics()) {
+      if (space_name === 'new_space') {
+        seenSpaces++;
+        assert(
+          space_size / 1024 / 1024 < resourceLimits.maxYoungGenerationSizeMb * 2);
+      } else if (space_name === 'old_space') {
+        seenSpaces++;
+        assert(space_size / 1024 / 1024 < resourceLimits.maxOldGenerationSizeMb);
+      } else if (space_name === 'code_space') {
+        seenSpaces++;
+        assert(space_size / 1024 / 1024 < resourceLimits.codeRangeSizeMb);
+      }
+    }
+    assert.strictEqual(seenSpaces, 3);
+
+    for (let i = 0; i < 100; i++)
+      array.push([array]);
+  }
+}
+
+module.exports = { allocateUntilCrash };
diff --git a/test/fixtures/thread-max-old-space-size.js b/test/fixtures/thread-max-old-space-size.js
new file mode 100644
index 00000000000000..3e6f9336f35844
--- /dev/null
+++ b/test/fixtures/thread-max-old-space-size.js
@@ -0,0 +1,3 @@
+const { allocateUntilCrash } = require('../common/allocate-and-check-limits');
+const resourceLimits = JSON.parse(process.argv[2]);
+allocateUntilCrash(resourceLimits);
diff --git a/test/parallel/test-thread-max-old-space-size.js b/test/parallel/test-thread-max-old-space-size.js
new file mode 100644
index 00000000000000..89210d432f575f
--- /dev/null
+++ b/test/parallel/test-thread-max-old-space-size.js
@@ -0,0 +1,16 @@
+'use strict';
+
+require('../common');
+const assert = require('assert');
+const fixtures = require('../common/fixtures');
+const fixture = fixtures.path('thread-max-old-space-size.js');
+const { spawnSync } = require('child_process');
+const resourceLimits = {
+  maxOldGenerationSizeMb: 16,
+  maxYoungGenerationSizeMb: 4,
+  // Set codeRangeSizeMb really high to effectively ignore it.
+  codeRangeSizeMb: 999999,
+  stackSizeMb: 4,
+};
+const res = spawnSync(process.execPath, [`--stack-size=${1024 * resourceLimits.stackSizeMb}`, `--thread-max-old-space-size=${resourceLimits.maxOldGenerationSizeMb}`, `--max-semi-space-size=${resourceLimits.maxYoungGenerationSizeMb / 2}`, fixture, JSON.stringify(resourceLimits)]);
+assert(res.stderr.toString('utf8').includes('Allocation failed - JavaScript heap out of memory'));
diff --git a/test/parallel/test-worker-max-old-space-size.js b/test/parallel/test-worker-max-old-space-size.js
new file mode 100644
index 00000000000000..35f61ce8d5f38f
--- /dev/null
+++ b/test/parallel/test-worker-max-old-space-size.js
@@ -0,0 +1,35 @@
+// Flags: --thread-max-old-space-size=1024
+'use strict';
+const common = require('../common');
+const assert = require('assert');
+const { Worker, resourceLimits } = require('worker_threads');
+const { allocateUntilCrash } = require('../common/allocate-and-check-limits');
+
+const testResourceLimits = {
+  maxOldGenerationSizeMb: 16,
+  maxYoungGenerationSizeMb: 4,
+  codeRangeSizeMb: 16,
+  stackSizeMb: 1,
+};
+
+// Do not use isMainThread so that this test itself can be run inside a Worker.
+if (!process.env.HAS_STARTED_WORKER) {
+  process.env.HAS_STARTED_WORKER = 1;
+  const w = new Worker(__filename, { resourceLimits: testResourceLimits });
+  assert.deepStrictEqual(w.resourceLimits, testResourceLimits);
+  w.on('exit', common.mustCall((code) => {
+    assert.strictEqual(code, 1);
+    assert.deepStrictEqual(w.resourceLimits, {});
+  }));
+  w.on('error', common.expectsError({
+    code: 'ERR_WORKER_OUT_OF_MEMORY',
+    message: 'Worker terminated due to reaching memory limit: ' +
+    'JS heap out of memory'
+  }));
+  return;
+}
+
+assert.deepStrictEqual(resourceLimits, testResourceLimits);
+// resourceLimits should be used; --thread-max-old-space-size should only
+// affect the main thread.
+allocateUntilCrash(resourceLimits);
diff --git a/test/parallel/test-worker-resource-limits.js b/test/parallel/test-worker-resource-limits.js
index f79c31b2a18793..2f5a2be1896723 100644
--- a/test/parallel/test-worker-resource-limits.js
+++ b/test/parallel/test-worker-resource-limits.js
@@ -1,8 +1,8 @@
 'use strict';
 const common = require('../common');
 const assert = require('assert');
-const v8 = require('v8');
 const { Worker, resourceLimits, isMainThread } = require('worker_threads');
+const { allocateUntilCrash } = require('../common/allocate-and-check-limits');
 
 if (isMainThread) {
   assert.deepStrictEqual(resourceLimits, {});
@@ -33,29 +33,4 @@ if (!process.env.HAS_STARTED_WORKER) {
 }
 
 assert.deepStrictEqual(resourceLimits, testResourceLimits);
-const array = [];
-while (true) {
-  const usedMB = v8.getHeapStatistics().used_heap_size / 1024 / 1024;
-  const maxReservedSize = resourceLimits.maxOldGenerationSizeMb +
-                          resourceLimits.maxYoungGenerationSizeMb;
-  assert(usedMB < maxReservedSize);
-
-  let seenSpaces = 0;
-  for (const { space_name, space_size } of v8.getHeapSpaceStatistics()) {
-    if (space_name === 'new_space') {
-      seenSpaces++;
-      assert(
-        space_size / 1024 / 1024 < resourceLimits.maxYoungGenerationSizeMb * 2);
-    } else if (space_name === 'old_space') {
-      seenSpaces++;
-      assert(space_size / 1024 / 1024 < resourceLimits.maxOldGenerationSizeMb);
-    } else if (space_name === 'code_space') {
-      seenSpaces++;
-      assert(space_size / 1024 / 1024 < resourceLimits.codeRangeSizeMb);
-    }
-  }
-  assert.strictEqual(seenSpaces, 3);
-
-  for (let i = 0; i < 100; i++)
-    array.push([array]);
-}
+allocateUntilCrash(resourceLimits);