diff --git a/lib/internal/modules/esm/loader.js b/lib/internal/modules/esm/loader.js
index 0bff0763fcf58f..cb0ee6d252627d 100644
--- a/lib/internal/modules/esm/loader.js
+++ b/lib/internal/modules/esm/loader.js
@@ -211,6 +211,7 @@ class ModuleLoader {
 
   constructor(asyncLoaderHooks) {
     this.#setAsyncLoaderHooks(asyncLoaderHooks);
+    this.importParents = new Map();
   }
 
   /**
diff --git a/lib/internal/modules/esm/module_job.js b/lib/internal/modules/esm/module_job.js
index 929577c0da6d08..5b0c38ed5bf20b 100644
--- a/lib/internal/modules/esm/module_job.js
+++ b/lib/internal/modules/esm/module_job.js
@@ -23,6 +23,73 @@ let debug = require('internal/util/debuglog').debuglog('esm', (fn) => {
   debug = fn;
 });
 
+const {
+  overrideStackTrace,
+  ErrorPrepareStackTrace,
+  codes,
+} = require('internal/errors');
+
+const { ERR_REQUIRE_ASYNC_MODULE } = codes;
+
+/**
+ * Builds a linear import trace by walking parent modules
+ * from the module that threw during evaluation.
+ */
+function buildImportTrace(importParents, startURL) {
+  const trace = [];
+  let current = startURL;
+  const seen = new Set([current]);
+
+  while (true) {
+    const parent = importParents.get(current);
+    if (!parent || seen.has(parent)) break;
+
+    trace.push({ child: current, parent });
+    seen.add(current);
+    current = parent;
+  }
+
+  return trace.length ? trace : null;
+}
+
+/**
+ * Formats an import trace for inclusion in an error stack.
+ */
+function formatImportTrace(trace) {
+  return trace
+    .map(({ child, parent }) => `  ${child} imported by ${parent}`)
+    .join('\n');
+}
+
+/**
+ * Appends an ESM import trace to an error’s stack output.
+ * Uses a per-error stack override; no global side effects.
+ */
+function decorateErrorWithImportTrace(e, importParents) {
+   if (!importParents || typeof importParents.get !== 'function') return;
+  if (!e || typeof e !== 'object') return;
+
+  overrideStackTrace.set(e, (error, trace) => {
+    let thrownURL;
+    for (const cs of trace) {
+      const getFileName = cs.getFileName;
+      if (typeof getFileName === 'function') {
+        const file = getFileName.call(cs);
+        if (typeof file === 'string' && file.startsWith('file://')) {
+          thrownURL = file;
+          break;
+        }
+      }
+    }
+
+    const importTrace = thrownURL ? buildImportTrace(importParents, thrownURL) : null;
+    const stack = ErrorPrepareStackTrace(error, trace);
+    if (!importTrace) return stack;
+
+    return `${stack}\n\nImport trace:\n${formatImportTrace(importTrace)}`;
+  });
+}
+
 const {
   ModuleWrap,
   kErrored,
@@ -53,9 +120,6 @@ const {
 } = require('internal/modules/helpers');
 const { getOptionValue } = require('internal/options');
 const noop = FunctionPrototype;
-const {
-  ERR_REQUIRE_ASYNC_MODULE,
-} = require('internal/errors').codes;
 let hasPausedEntry = false;
 
 const CJSGlobalLike = [
@@ -159,6 +223,7 @@ class ModuleJobBase {
         // that hooks can pre-fetch sources off-thread.
         const job = this.loader.getOrCreateModuleJob(this.url, request, requestType);
         debug(`ModuleJobBase.syncLink() ${this.url} -> ${request.specifier}`, job);
+        this.loader.importParents.set(job.url, this.url);
         assert(!isPromise(job));
         assert(job.module instanceof ModuleWrap);
         if (request.phase === kEvaluationPhase) {
@@ -430,6 +495,9 @@ class ModuleJob extends ModuleJobBase {
       await this.module.evaluate(timeout, breakOnSigint);
     } catch (e) {
       explainCommonJSGlobalLikeNotDefinedError(e, this.module.url, this.module.hasTopLevelAwait);
+
+      decorateErrorWithImportTrace(e, this.loader.importParents);
+
       throw e;
     }
     return { __proto__: null, module: this.module };
diff --git a/test/es-module/test-esm-import-trace.mjs b/test/es-module/test-esm-import-trace.mjs
new file mode 100644
index 00000000000000..0a33f2e9f88c9a
--- /dev/null
+++ b/test/es-module/test-esm-import-trace.mjs
@@ -0,0 +1,26 @@
+import { spawnSync } from 'node:child_process';
+import assert from 'node:assert';
+import { fileURLToPath } from 'node:url';
+import path from 'node:path';
+import { test } from 'node:test';
+
+const __filename = fileURLToPath(import.meta.url);
+const __dirname = path.dirname(__filename);
+
+const fixture = path.join(
+  __dirname,
+  '../fixtures/es-modules/import-trace/entry.mjs'
+);
+
+test('includes import trace for evaluation-time errors', () => {
+  const result = spawnSync(
+    process.execPath,
+    [fixture],
+    { encoding: 'utf8' }
+  );
+
+  assert.notStrictEqual(result.status, 0);
+  assert.match(result.stderr, /Import trace:/);
+  assert.match(result.stderr, /bar\.mjs imported by .*foo\.mjs/);
+  assert.match(result.stderr, /foo\.mjs imported by .*entry\.mjs/);
+});
\ No newline at end of file
diff --git a/test/fixtures/es-modules/import-trace/bar.mjs b/test/fixtures/es-modules/import-trace/bar.mjs
new file mode 100644
index 00000000000000..8d48f71d57cbde
--- /dev/null
+++ b/test/fixtures/es-modules/import-trace/bar.mjs
@@ -0,0 +1 @@
+throw new Error('bar failed');
diff --git a/test/fixtures/es-modules/import-trace/entry.mjs b/test/fixtures/es-modules/import-trace/entry.mjs
new file mode 100644
index 00000000000000..a63434dddb1bb6
--- /dev/null
+++ b/test/fixtures/es-modules/import-trace/entry.mjs
@@ -0,0 +1 @@
+import './foo.mjs';
diff --git a/test/fixtures/es-modules/import-trace/foo.mjs b/test/fixtures/es-modules/import-trace/foo.mjs
new file mode 100644
index 00000000000000..118fb781654638
--- /dev/null
+++ b/test/fixtures/es-modules/import-trace/foo.mjs
@@ -0,0 +1 @@
+import './bar.mjs';
\ No newline at end of file