diff --git a/lib/tsc.js b/lib/tsc.js
index 173935279f602..53dd3801d1d49 100644
--- a/lib/tsc.js
+++ b/lib/tsc.js
@@ -82018,7 +82018,7 @@ function createTypeChecker(host) {
     }
     const target = getExportSymbolOfValueSymbolIfExported(resolveAlias(symbol));
     if (target === unknownSymbol) {
-      return true;
+      return !excludeTypeOnlyValues || !getTypeOnlyAliasDeclaration(symbol);
     }
     return !!(getSymbolFlags(
       symbol,
diff --git a/lib/tsserver.js b/lib/tsserver.js
index 0bbe3ca3e15d4..c2d335d8cf2fc 100644
--- a/lib/tsserver.js
+++ b/lib/tsserver.js
@@ -86722,7 +86722,7 @@ function createTypeChecker(host) {
     }
     const target = getExportSymbolOfValueSymbolIfExported(resolveAlias(symbol));
     if (target === unknownSymbol) {
-      return true;
+      return !excludeTypeOnlyValues || !getTypeOnlyAliasDeclaration(symbol);
     }
     return !!(getSymbolFlags(
       symbol,
diff --git a/lib/typescript.js b/lib/typescript.js
index ba87f4175e501..86ab90b9fb71b 100644
--- a/lib/typescript.js
+++ b/lib/typescript.js
@@ -84489,7 +84489,7 @@ ${lanes.join("\n")}
       }
       const target = getExportSymbolOfValueSymbolIfExported(resolveAlias(symbol));
       if (target === unknownSymbol) {
-        return true;
+        return !excludeTypeOnlyValues || !getTypeOnlyAliasDeclaration(symbol);
       }
       return !!(getSymbolFlags(
         symbol,