diff --git a/lib/internal/process/esm_loader.js b/lib/internal/process/esm_loader.js
index 53302f75baa669..cca1e3e07956a1 100644
--- a/lib/internal/process/esm_loader.js
+++ b/lib/internal/process/esm_loader.js
@@ -24,6 +24,12 @@ exports.initializeImportMetaObject = function(wrap, meta) {
 
 exports.importModuleDynamicallyCallback = async function(wrap, specifier) {
   assert(calledInitialize === true || !userLoader);
+  if (!calledInitialize) {
+    process.emitWarning(
+      'The ESM module loader is experimental.',
+      'ExperimentalWarning', undefined);
+    calledInitialize = true;
+  }
   const { callbackMap } = internalBinding('module_wrap');
   if (callbackMap.has(wrap)) {
     const { importModuleDynamically } = callbackMap.get(wrap);
diff --git a/test/es-module/test-esm-dynamic-import.js b/test/es-module/test-esm-dynamic-import.js
index e72922d31c0b18..e01b86eed143ed 100644
--- a/test/es-module/test-esm-dynamic-import.js
+++ b/test/es-module/test-esm-dynamic-import.js
@@ -42,6 +42,9 @@ function expectFsNamespace(result) {
 // For direct use of import expressions inside of CJS or ES modules, including
 // via eval, all kinds of specifiers should work without issue.
 (function testScriptOrModuleImport() {
+  common.expectWarning('ExperimentalWarning',
+                       'The ESM module loader is experimental.');
+
   // Importing another file, both direct & via eval
   // expectOkNamespace(import(relativePath));
   expectOkNamespace(eval(`import("${relativePath}")`));