diff --git a/packages/fiber/src/core/hooks.tsx b/packages/fiber/src/core/hooks.tsx
index 42cd9449dc..8317e09fb4 100644
--- a/packages/fiber/src/core/hooks.tsx
+++ b/packages/fiber/src/core/hooks.tsx
@@ -79,13 +79,20 @@ export function useGraph(object: THREE.Object3D) {
   return React.useMemo(() => buildGraph(object), [object])
 }
 
+const memoizedLoaders = new WeakMap<LoaderProto<any>, Loader<any>>()
+
 function loadingFn<L extends LoaderProto<any>>(
   extensions?: Extensions<L>,
   onProgress?: (event: ProgressEvent<EventTarget>) => void,
 ) {
   return function (Proto: L, ...input: string[]) {
     // Construct new loader and run extensions
-    const loader = new Proto()
+    let loader = memoizedLoaders.get(Proto)!
+    if (!loader) {
+      loader = new Proto()
+      memoizedLoaders.set(Proto, loader)
+    }
+
     if (extensions) extensions(loader)
     // Go through the urls and load them
     return Promise.all(
@@ -103,7 +110,7 @@ function loadingFn<L extends LoaderProto<any>>(
             ),
           ),
       ),
-    )
+    ).finally(() => (loader as any).dispose?.())
   }
 }
 
diff --git a/packages/fiber/tests/core/hooks.test.tsx b/packages/fiber/tests/core/hooks.test.tsx
index 0474bc9954..88e289c4d4 100644
--- a/packages/fiber/tests/core/hooks.test.tsx
+++ b/packages/fiber/tests/core/hooks.test.tsx
@@ -138,25 +138,21 @@ describe('hooks', () => {
     mesh2.name = 'Mesh 2'
     MockGroup.add(mesh1, mesh2)
 
-    jest.spyOn(Stdlib, 'GLTFLoader').mockImplementation(
-      () =>
-        ({
-          load: jest
-            .fn()
-            .mockImplementationOnce((_url, onLoad) => {
-              onLoad(MockMesh)
-            })
-            .mockImplementationOnce((_url, onLoad) => {
-              onLoad({ scene: MockGroup })
-            }),
-          setPath: () => {},
-        } as unknown as Stdlib.GLTFLoader),
-    )
+    class TestLoader extends THREE.Loader {
+      load = jest
+        .fn()
+        .mockImplementationOnce((_url, onLoad) => {
+          onLoad(MockMesh)
+        })
+        .mockImplementationOnce((_url, onLoad) => {
+          onLoad(MockGroup)
+        })
+    }
+
+    const extensions = jest.fn()
 
     const Component = () => {
-      const [mockMesh, mockScene] = useLoader(Stdlib.GLTFLoader, ['/suzanne.glb', '/myModels.glb'], (loader) => {
-        loader.setPath('/public/models')
-      })
+      const [mockMesh, mockScene] = useLoader(TestLoader, ['/suzanne.glb', '/myModels.glb'], extensions)
 
       return (
         <>
@@ -180,6 +176,8 @@ describe('hooks', () => {
     await waitFor(() => expect(scene.children[0]).toBeDefined())
 
     expect(scene.children[0]).toBe(MockMesh)
+    expect(scene.children[1]).toBe(MockGroup)
+    expect(extensions).toBeCalledTimes(1)
   })
 
   it('can handle useLoader with a loader extension', async () => {