diff --git a/lib/internal/modules/esm/default_loader.js b/lib/internal/modules/esm/default_loader.js
new file mode 100644
index 00000000000000..e6998ee18ce2aa
--- /dev/null
+++ b/lib/internal/modules/esm/default_loader.js
@@ -0,0 +1,7 @@
+'use strict';
+
+const { defaultLoad } = require('internal/modules/esm/load');
+const { defaultResolve } = require('internal/modules/esm/resolve');
+
+exports.resolve = defaultResolve;
+exports.load = defaultLoad;
diff --git a/lib/internal/modules/esm/hooks.js b/lib/internal/modules/esm/hooks.js
index b7e1afac31060d..771f4f2720183b 100644
--- a/lib/internal/modules/esm/hooks.js
+++ b/lib/internal/modules/esm/hooks.js
@@ -54,7 +54,6 @@ const {
 } = require('internal/util');
 
 const {
-  defaultResolve,
   throwIfInvalidParentURL,
 } = require('internal/modules/esm/resolve');
 const {
@@ -87,45 +86,40 @@ let importMetaInitializer;
 // [2] `validate...()`s throw the wrong error
 
 class Hooks {
-  #chains = {
-    /**
-     * Prior to ESM loading. These are called once before any modules are started.
-     * @private
-     * @property {KeyedHook[]} globalPreload Last-in-first-out list of preload hooks.
-     */
-    globalPreload: [],
-
-    /**
-     * Phase 1 of 2 in ESM loading.
-     * The output of the `resolve` chain of hooks is passed into the `load` chain of hooks.
-     * @private
-     * @property {KeyedHook[]} resolve Last-in-first-out collection of resolve hooks.
-     */
-    resolve: [
-      {
-        fn: defaultResolve,
-        url: 'node:internal/modules/esm/resolve',
-      },
-    ],
-
-    /**
-     * Phase 2 of 2 in ESM loading.
-     * @private
-     * @property {KeyedHook[]} load Last-in-first-out collection of loader hooks.
-     */
-    load: [
-      {
-        fn: require('internal/modules/esm/load').defaultLoad,
-        url: 'node:internal/modules/esm/load',
-      },
-    ],
-  };
+  #loaderInstances = [];
+  #chains = {};
 
   // Cache URLs we've already validated to avoid repeated validation
   #validatedUrls = new SafeSet();
 
   allowImportMetaResolve = false;
 
+  constructor() {
+    const defaultLoader = 'internal/modules/esm/default_loader';
+    this.addCustomLoader(`node:${defaultLoader}`, require(defaultLoader));
+  }
+
+  #rebuildChain(name) {
+    const chain = this.#chains[name] = [];
+    let i = 0;
+    for (const instance of this.#loaderInstances) {
+      if (typeof instance[name] !== 'function') {
+        continue;
+      }
+      chain.push({
+        loader: instance,
+        fn: instance[name],
+        next: chain[i++ - 1],
+      });
+    }
+  }
+
+  #rebuildChains() {
+    this.#rebuildChain('globalPreload');
+    this.#rebuildChain('resolve');
+    this.#rebuildChain('load');
+  }
+
   /**
    * Import and register custom/user-defined module loader hook(s).
    * @param {string} urlOrSpecifier
@@ -164,17 +158,18 @@ class Hooks {
       emitExperimentalWarning(
         '`globalPreload` is planned for removal in favor of `initialize`. `globalPreload`',
       );
-      ArrayPrototypePush(this.#chains.globalPreload, { __proto__: null, fn: globalPreload, url });
     }
-    if (resolve) {
-      const next = this.#chains.resolve[this.#chains.resolve.length - 1];
-      ArrayPrototypePush(this.#chains.resolve, { __proto__: null, fn: resolve, url, next });
-    }
-    if (load) {
-      const next = this.#chains.load[this.#chains.load.length - 1];
-      ArrayPrototypePush(this.#chains.load, { __proto__: null, fn: load, url, next });
-    }
-    return initialize?.(data);
+    const instance = {
+      __proto__: null,
+      url,
+      globalPreload,
+      initialize,
+      resolve,
+      load,
+    };
+    ArrayPrototypePush(this.#loaderInstances, instance);
+    this.#rebuildChains();
+    return initialize?.(data, { __proto__: null, id: instance.id, url });
   }
 
   /**
@@ -182,7 +177,7 @@ class Hooks {
    */
   initializeGlobalPreload() {
     const preloadScripts = [];
-    for (let i = this.#chains.globalPreload.length - 1; i >= 0; i--) {
+    for (const chainEntry of this.#chains.globalPreload) {
       const { MessageChannel } = require('internal/worker/io');
       const channel = new MessageChannel();
       const {
@@ -193,10 +188,8 @@ class Hooks {
       insidePreload.unref();
       insideLoader.unref();
 
-      const {
-        fn: preload,
-        url: specifier,
-      } = this.#chains.globalPreload[i];
+      const preload = chainEntry.fn;
+      const specifier = chainEntry.loader.url;
 
       const preloaded = preload({
         port: insideLoader,
@@ -789,11 +782,9 @@ function pluckHooks({
 function nextHookFactory(current, meta, { validateArgs, validateOutput }) {
   // First, prepare the current
   const { hookName } = meta;
-  const {
-    fn: hook,
-    url: hookFilePath,
-    next,
-  } = current;
+
+  const { next, fn: hook, loader } = current;
+  const { url: hookFilePath } = loader;
 
   // ex 'nextResolve'
   const nextHookName = `next${