diff --git a/packages/vite/src/node/plugins/importAnalysis.ts b/packages/vite/src/node/plugins/importAnalysis.ts
index ae4a7b556d00c2..d26b0e219085d9 100644
--- a/packages/vite/src/node/plugins/importAnalysis.ts
+++ b/packages/vite/src/node/plugins/importAnalysis.ts
@@ -294,6 +294,8 @@ export function importAnalysisPlugin(config: ResolvedConfig): Plugin {
           if (ssr) {
             return [url, url]
           }
+          // fix#9534, prevent the importerModuleNode being stopped from propagating updates
+          importerModule.isSelfAccepting = false
           return this.error(
             `Failed to resolve import "${url}" from "${path.relative(
               process.cwd(),
diff --git a/playground/hmr/__tests__/hmr.spec.ts b/playground/hmr/__tests__/hmr.spec.ts
index 143adea310f0d1..c5d1950408ff04 100644
--- a/playground/hmr/__tests__/hmr.spec.ts
+++ b/playground/hmr/__tests__/hmr.spec.ts
@@ -670,4 +670,28 @@ if (!isBuild) {
       return await el.textContent()
     }, '[wow]1')
   })
+
+  test('keep hmr reload after missing import on server startup', async () => {
+    const file = 'missing-import/a.js'
+    const importCode = "import 'missing-modules'"
+    const unImportCode = `// ${importCode}`
+    const timeout = 2000
+
+    await page.goto(viteTestUrl + '/missing-import/index.html')
+
+    browserLogs.length = 0
+    expect(browserLogs).toMatchObject([])
+
+    editFile(file, (code) => code.replace(importCode, unImportCode))
+
+    await page.waitForNavigation({ timeout })
+    expect(browserLogs.some((msg) => msg.match('missing test'))).toBe(true)
+    browserLogs.length = 0
+
+    editFile(file, (code) => code.replace(unImportCode, importCode))
+
+    await page.waitForNavigation({ timeout })
+    expect(browserLogs.some((msg) => msg.includes('500'))).toBe(true)
+    browserLogs.length = 0
+  })
 }
diff --git a/playground/hmr/missing-import/a.js b/playground/hmr/missing-import/a.js
new file mode 100644
index 00000000000000..886fc4ff2ef541
--- /dev/null
+++ b/playground/hmr/missing-import/a.js
@@ -0,0 +1,3 @@
+import 'missing-modules'
+
+console.log('missing test')
diff --git a/playground/hmr/missing-import/index.html b/playground/hmr/missing-import/index.html
new file mode 100644
index 00000000000000..cfbd07a1e44286
--- /dev/null
+++ b/playground/hmr/missing-import/index.html
@@ -0,0 +1,2 @@
+<div>Page</div>
+<script type="module" src="main.js"></script>
diff --git a/playground/hmr/missing-import/main.js b/playground/hmr/missing-import/main.js
new file mode 100644
index 00000000000000..999801e4dd1061
--- /dev/null
+++ b/playground/hmr/missing-import/main.js
@@ -0,0 +1 @@
+import './a.js'