diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6fe38aa4aac3..d1b806080ee2 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,6 +6,8 @@
 
 ### Chore & Maintenance
 
+- `[jest-serializer]` Remove deprecated module from source tree ([#12735](https://github.com/facebook/jest/pull/12735))
+
 ### Performance
 
 ## 28.0.0
diff --git a/packages/jest-serializer/.npmignore b/packages/jest-serializer/.npmignore
deleted file mode 100644
index 80bf61eb922c..000000000000
--- a/packages/jest-serializer/.npmignore
+++ /dev/null
@@ -1,7 +0,0 @@
-**/__mocks__/**
-**/__tests__/**
-__typetests__
-src
-tsconfig.json
-tsconfig.tsbuildinfo
-api-extractor.json
diff --git a/packages/jest-serializer/README.md b/packages/jest-serializer/README.md
deleted file mode 100644
index 5eee3c1c9cfc..000000000000
--- a/packages/jest-serializer/README.md
+++ /dev/null
@@ -1,49 +0,0 @@
-# jest-serializer
-
-> DEPRECATED: Use `v8` APIs directly: https://nodejs.org/api/v8.html#serialization-api
-
-Module for serializing and deserializing object into memory and disk. The Node core `v8` implementations are used. This seriializer have the advantage of being able to serialize `Map`, `Set`, `undefined`, `NaN`, etc..
-
-## Install
-
-```sh
-$ yarn add jest-serializer
-```
-
-## API
-
-Three kinds of API groups are exposed:
-
-### In-memory serialization: `serialize` and `deserialize`
-
-This set of functions take or return a `Buffer`. All the process happens in memory. This is useful when willing to transfer over HTTP, TCP or via UNIX pipes.
-
-```javascript
-import {deserialize, serialize} from 'jest-serializer';
-
-const myObject = {
-  foo: 'bar',
-  baz: [0, true, '2', [], {}],
-};
-
-const buffer = serialize(myObject);
-const myCopyObject = deserialize(buffer);
-```
-
-### Synchronous persistent filesystem: `readFileSync` and `writeFileSync`
-
-This set of functions allow to send to disk a serialization result and retrieve it back, in a synchronous way. It mimics the `fs` API so it looks familiar.
-
-```javascript
-import {readFileSync, writeFileSync} from 'jest-serializer';
-
-const myObject = {
-  foo: 'bar',
-  baz: [0, true, '2', [], {}],
-};
-
-const myFile = '/tmp/obj';
-
-writeFileSync(myFile, myObject);
-const myCopyObject = readFileSync(myFile);
-```
diff --git a/packages/jest-serializer/package.json b/packages/jest-serializer/package.json
deleted file mode 100644
index 7877dc5c6d9a..000000000000
--- a/packages/jest-serializer/package.json
+++ /dev/null
@@ -1,32 +0,0 @@
-{
-  "name": "jest-serializer",
-  "version": "28.0.0",
-  "repository": {
-    "type": "git",
-    "url": "https://github.com/facebook/jest.git",
-    "directory": "packages/jest-serializer"
-  },
-  "devDependencies": {
-    "@types/graceful-fs": "^4.1.3"
-  },
-  "dependencies": {
-    "@types/node": "*",
-    "graceful-fs": "^4.2.9"
-  },
-  "engines": {
-    "node": "^12.13.0 || ^14.15.0 || ^16.13.0 || >=17.0.0"
-  },
-  "license": "MIT",
-  "main": "./build/index.js",
-  "types": "./build/index.d.ts",
-  "exports": {
-    ".": {
-      "types": "./build/index.d.ts",
-      "default": "./build/index.js"
-    },
-    "./package.json": "./package.json"
-  },
-  "publishConfig": {
-    "access": "public"
-  }
-}
diff --git a/packages/jest-serializer/src/__tests__/index.test.ts b/packages/jest-serializer/src/__tests__/index.test.ts
deleted file mode 100644
index dae4124b8446..000000000000
--- a/packages/jest-serializer/src/__tests__/index.test.ts
+++ /dev/null
@@ -1,74 +0,0 @@
-/**
- * Copyright (c) Facebook, Inc. and its affiliates. All Rights Reserved.
- *
- * This source code is licensed under the MIT license found in the
- * LICENSE file in the root directory of this source tree.
- */
-
-import {tmpdir} from 'os';
-import * as path from 'path';
-import * as fs from 'graceful-fs';
-import {format as prettyFormat} from 'pretty-format';
-import serializer from '..';
-
-const objs = [
-  3,
-  null,
-  [0, true, '2', [3.14, {}, null]],
-  {key1: 'foo', key2: 'bar', key3: {array: [null, {}]}},
-  {minusInf: -Infinity, nan: NaN, plusInf: +Infinity},
-  {date: new Date(1234567890), re: /foo/gi},
-  {
-    // @ts-expect-error - testing NaN
-    map: new Map([
-      [NaN, 4],
-      [undefined, 'm'],
-    ]),
-    set: new Set([undefined, NaN]),
-  },
-  {buf: Buffer.from([0, 255, 127])},
-];
-
-const file = path.join(tmpdir(), '__jest-serialize-test__');
-
-afterEach(() => {
-  try {
-    fs.unlinkSync(file);
-  } catch {
-    // Do nothing if file does not exist.
-  }
-});
-
-describe('Using V8 implementation', () => {
-  it('throws the error with an invalid serialization', () => {
-    // No chance this is a valid serialization, neither in JSON nor V8.
-    const invalidBuffer = Buffer.from([0, 85, 170, 255]);
-
-    fs.writeFileSync(file, invalidBuffer);
-
-    expect(() => serializer.deserialize(invalidBuffer)).toThrow();
-    expect(() => serializer.readFileSync(file)).toThrow();
-  });
-
-  objs.forEach((obj, i) => {
-    describe(`Object ${i}`, () => {
-      it('serializes/deserializes in memory', () => {
-        const buf = serializer.serialize(obj);
-
-        expect(buf).toBeInstanceOf(Buffer);
-
-        expect(prettyFormat(serializer.deserialize(buf))).toEqual(
-          prettyFormat(obj),
-        );
-      });
-
-      it('serializes/deserializes in disk', () => {
-        serializer.writeFileSync(file, obj);
-
-        expect(prettyFormat(serializer.readFileSync(file))).toEqual(
-          prettyFormat(obj),
-        );
-      });
-    });
-  });
-});
diff --git a/packages/jest-serializer/src/index.ts b/packages/jest-serializer/src/index.ts
deleted file mode 100644
index 62ae49c41e4f..000000000000
--- a/packages/jest-serializer/src/index.ts
+++ /dev/null
@@ -1,41 +0,0 @@
-/**
- * Copyright (c) Facebook, Inc. and its affiliates. All Rights Reserved.
- *
- * This source code is licensed under the MIT license found in the
- * LICENSE file in the root directory of this source tree.
- */
-
-import {deserialize as v8Deserialize, serialize as v8Serialize} from 'v8';
-import * as fs from 'graceful-fs';
-
-// JSON and V8 serializers are both stable when it comes to compatibility. The
-// current JSON specification is well defined in RFC 8259, and V8 ensures that
-// the versions are compatible by encoding the serialization version in the own
-// generated buffer.
-
-// In memory functions.
-
-export function deserialize(buffer: Buffer): unknown {
-  return v8Deserialize(buffer);
-}
-
-export function serialize(content: unknown): Buffer {
-  return v8Serialize(content);
-}
-
-// Synchronous filesystem functions.
-
-export function readFileSync(filePath: string): unknown {
-  return v8Deserialize(fs.readFileSync(filePath));
-}
-
-export function writeFileSync(filePath: string, content: unknown): void {
-  return fs.writeFileSync(filePath, v8Serialize(content));
-}
-
-export default {
-  deserialize,
-  readFileSync,
-  serialize,
-  writeFileSync,
-};
diff --git a/packages/jest-serializer/tsconfig.json b/packages/jest-serializer/tsconfig.json
deleted file mode 100644
index bb13eb783ccc..000000000000
--- a/packages/jest-serializer/tsconfig.json
+++ /dev/null
@@ -1,9 +0,0 @@
-{
-  "extends": "../../tsconfig.json",
-  "compilerOptions": {
-    "rootDir": "src",
-    "outDir": "build"
-  },
-  "include": ["./src/**/*"],
-  "exclude": ["./**/__tests__/**/*"]
-}
diff --git a/yarn.lock b/yarn.lock
index b9521e6c84e6..bb163c7b2839 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -13538,16 +13538,6 @@ __metadata:
   languageName: node
   linkType: hard
 
-"jest-serializer@workspace:packages/jest-serializer":
-  version: 0.0.0-use.local
-  resolution: "jest-serializer@workspace:packages/jest-serializer"
-  dependencies:
-    "@types/graceful-fs": ^4.1.3
-    "@types/node": "*"
-    graceful-fs: ^4.2.9
-  languageName: unknown
-  linkType: soft
-
 "jest-silent-reporter@npm:^0.5.0":
   version: 0.5.0
   resolution: "jest-silent-reporter@npm:0.5.0"