diff --git a/lib/internal/modules/cjs/loader.js b/lib/internal/modules/cjs/loader.js
index 5af29ef56acaac..d28a295c3af9ec 100644
--- a/lib/internal/modules/cjs/loader.js
+++ b/lib/internal/modules/cjs/loader.js
@@ -70,6 +70,7 @@ const {
     module_export_private_symbol,
     module_parent_private_symbol,
   },
+  isInsideNodeModules,
 } = internalBinding('util');
 
 const { kEvaluated, createRequiredModuleFacade } = internalBinding('module_wrap');
@@ -1342,6 +1343,7 @@ Module.prototype.require = function(id) {
   }
 };
 
+let emittedRequireModuleWarning = false;
 /**
  * Resolved path to `process.argv[1]` will be lazily placed here
  * (needed for setting breakpoint when called with `--inspect-brk`).
@@ -1375,29 +1377,46 @@ function loadESMFromCJS(mod, filename) {
     setOwnProperty(process, 'mainModule', undefined);
   } else {
     const parent = mod[kModuleParent];
-    let messagePrefix;
-    if (parent) {
-      // In the case of the module calling `require()`, it's more useful to know its absolute path.
-      let from = parent.filename || parent.id;
-      // In the case of the module being require()d, it's more useful to know the id passed into require().
-      const to = mod.id || mod.filename;
-      if (from === 'internal/preload') {
-        from = '--require';
-      } else if (from === '<repl>') {
-        from = 'The REPL';
-      } else if (from === '.') {
-        from = 'The entry point';
-      } else {
-        from &&= `CommonJS module ${from}`;
+
+    if (!emittedRequireModuleWarning) {
+      let shouldEmitWarning = false;
+      // Check if the require() comes from node_modules.
+      if (parent) {
+        shouldEmitWarning = !isUnderNodeModules(parent.filename);
+      } else if (mod[kIsCachedByESMLoader]) {
+        // It comes from the require() built for `import cjs` and doesn't have a parent recorded
+        // in the CJS module instance. Inspect the stack trace to see if the require()
+        // comes from node_modules and reduce the noise. If there are more than 100 frames,
+        // just give up and assume it is under node_modules.
+        shouldEmitWarning = !isInsideNodeModules(100, true);
       }
-      if (from && to) {
-        messagePrefix = `${from} is loading ES Module ${to} using require().\n`;
+      if (shouldEmitWarning) {
+        let messagePrefix;
+        if (parent) {
+          // In the case of the module calling `require()`, it's more useful to know its absolute path.
+          let from = parent.filename || parent.id;
+          // In the case of the module being require()d, it's more useful to know the id passed into require().
+          const to = mod.id || mod.filename;
+          if (from === 'internal/preload') {
+            from = '--require';
+          } else if (from === '<repl>') {
+            from = 'The REPL';
+          } else if (from === '.') {
+            from = 'The entry point';
+          } else {
+            from &&= `CommonJS module ${from}`;
+          }
+          if (from && to) {
+            messagePrefix = `${from} is loading ES Module ${to} using require().\n`;
+          }
+        }
+        emitExperimentalWarning('Support for loading ES Module in require()',
+                                messagePrefix,
+                                undefined,
+                                parent?.require);
+        emittedRequireModuleWarning = true;
       }
     }
-    emitExperimentalWarning('Support for loading ES Module in require()',
-                            messagePrefix,
-                            undefined,
-                            parent?.require);
     const {
       wrap,
       namespace,
diff --git a/test/es-module/test-require-node-modules-warning.js b/test/es-module/test-require-node-modules-warning.js
new file mode 100644
index 00000000000000..837f174fd28950
--- /dev/null
+++ b/test/es-module/test-require-node-modules-warning.js
@@ -0,0 +1,59 @@
+'use strict';
+
+// This checks the experimental warning for require(esm) is disabled when the
+// require() comes from node_modules.
+require('../common');
+const { spawnSyncAndAssert } = require('../common/child_process');
+const fixtures = require('../common/fixtures');
+
+const warningRE = /Support for loading ES Module in require\(\)/;
+
+// The fixtures are placed in a directory that includes "node_modules" in its name
+// to check false negatives.
+
+// require() in non-node_modules -> esm in node_modules should warn.
+spawnSyncAndAssert(
+  process.execPath,
+  [fixtures.path('es-modules', 'test_node_modules', 'require-esm.js')],
+  {
+    trim: true,
+    stderr: warningRE,
+    stdout: 'world',
+  }
+);
+
+// require() in non-node_modules -> require() in node_modules -> esm in node_modules
+// should not warn.
+spawnSyncAndAssert(
+  process.execPath,
+  [fixtures.path('es-modules', 'test_node_modules', 'require-require-esm.js')],
+  {
+    trim: true,
+    stderr: '',
+    stdout: 'world',
+  }
+);
+
+// Import in non-node_modules -> require() in node_modules -> esm in node_modules
+// should not warn.
+spawnSyncAndAssert(
+  process.execPath,
+  [fixtures.path('es-modules', 'test_node_modules', 'import-require-esm.mjs')],
+  {
+    trim: true,
+    stderr: '',
+    stdout: 'world',
+  }
+);
+
+// Import in non-node_modules -> import in node_modules ->
+// require() in node_modules -> esm in node_modules should not warn.
+spawnSyncAndAssert(
+  process.execPath,
+  [fixtures.path('es-modules', 'test_node_modules', 'import-import-require-esm.mjs')],
+  {
+    trim: true,
+    stderr: '',
+    stdout: 'world',
+  }
+);
diff --git a/test/fixtures/es-modules/test_node_modules/import-import-require-esm.mjs b/test/fixtures/es-modules/test_node_modules/import-import-require-esm.mjs
new file mode 100644
index 00000000000000..d470088c38caee
--- /dev/null
+++ b/test/fixtures/es-modules/test_node_modules/import-import-require-esm.mjs
@@ -0,0 +1,2 @@
+import mod from 'import-require-esm';
+console.log(mod.hello);
diff --git a/test/fixtures/es-modules/test_node_modules/import-require-esm.mjs b/test/fixtures/es-modules/test_node_modules/import-require-esm.mjs
new file mode 100644
index 00000000000000..2ad346de9e841c
--- /dev/null
+++ b/test/fixtures/es-modules/test_node_modules/import-require-esm.mjs
@@ -0,0 +1,2 @@
+import mod from 'require-esm';
+console.log(mod.hello);
diff --git a/test/fixtures/es-modules/test_node_modules/node_modules/esm/index.js b/test/fixtures/es-modules/test_node_modules/node_modules/esm/index.js
new file mode 100644
index 00000000000000..35f468bf4856d8
--- /dev/null
+++ b/test/fixtures/es-modules/test_node_modules/node_modules/esm/index.js
@@ -0,0 +1 @@
+export const hello = 'world';
diff --git a/test/fixtures/es-modules/test_node_modules/node_modules/esm/package.json b/test/fixtures/es-modules/test_node_modules/node_modules/esm/package.json
new file mode 100644
index 00000000000000..07aec65d5a4f31
--- /dev/null
+++ b/test/fixtures/es-modules/test_node_modules/node_modules/esm/package.json
@@ -0,0 +1,4 @@
+{
+  "type": "module",
+  "main": "index.js"
+}
diff --git a/test/fixtures/es-modules/test_node_modules/node_modules/import-require-esm/index.js b/test/fixtures/es-modules/test_node_modules/node_modules/import-require-esm/index.js
new file mode 100644
index 00000000000000..918bb5d5597e34
--- /dev/null
+++ b/test/fixtures/es-modules/test_node_modules/node_modules/import-require-esm/index.js
@@ -0,0 +1,2 @@
+import mod from 'require-esm';
+export default mod;
diff --git a/test/fixtures/es-modules/test_node_modules/node_modules/import-require-esm/package.json b/test/fixtures/es-modules/test_node_modules/node_modules/import-require-esm/package.json
new file mode 100644
index 00000000000000..07aec65d5a4f31
--- /dev/null
+++ b/test/fixtures/es-modules/test_node_modules/node_modules/import-require-esm/package.json
@@ -0,0 +1,4 @@
+{
+  "type": "module",
+  "main": "index.js"
+}
diff --git a/test/fixtures/es-modules/test_node_modules/node_modules/require-esm/index.js b/test/fixtures/es-modules/test_node_modules/node_modules/require-esm/index.js
new file mode 100644
index 00000000000000..ca6f0c264ad1fc
--- /dev/null
+++ b/test/fixtures/es-modules/test_node_modules/node_modules/require-esm/index.js
@@ -0,0 +1,2 @@
+module.exports = require('esm');
+
diff --git a/test/fixtures/es-modules/test_node_modules/require-esm.js b/test/fixtures/es-modules/test_node_modules/require-esm.js
new file mode 100644
index 00000000000000..60ad3f7fff60c6
--- /dev/null
+++ b/test/fixtures/es-modules/test_node_modules/require-esm.js
@@ -0,0 +1,2 @@
+const { hello } = require('esm');
+console.log(hello);
diff --git a/test/fixtures/es-modules/test_node_modules/require-require-esm.js b/test/fixtures/es-modules/test_node_modules/require-require-esm.js
new file mode 100644
index 00000000000000..9fe255dce258a6
--- /dev/null
+++ b/test/fixtures/es-modules/test_node_modules/require-require-esm.js
@@ -0,0 +1,2 @@
+const { hello } = require('require-esm');
+console.log(hello);