diff --git a/packages/compiler-dom/src/runtimeHelpers.ts b/packages/compiler-dom/src/runtimeHelpers.ts
index c5349ad79..7a7ea01f2 100644
--- a/packages/compiler-dom/src/runtimeHelpers.ts
+++ b/packages/compiler-dom/src/runtimeHelpers.ts
@@ -20,6 +20,7 @@ export const V_ON_WITH_KEYS: unique symbol = Symbol(
 )
 
 export const V_SHOW: unique symbol = Symbol(__DEV__ ? `vShow` : ``)
+export const V_HTML: unique symbol = Symbol(__DEV__ ? `vHtml` : ``)
 
 export const TRANSITION: unique symbol = Symbol(__DEV__ ? `Transition` : ``)
 export const TRANSITION_GROUP: unique symbol = Symbol(
@@ -35,6 +36,7 @@ registerRuntimeHelpers({
   [V_ON_WITH_MODIFIERS]: `withModifiers`,
   [V_ON_WITH_KEYS]: `withKeys`,
   [V_SHOW]: `vShow`,
+  [V_HTML]: `vHtml`,
   [TRANSITION]: `Transition`,
   [TRANSITION_GROUP]: `TransitionGroup`,
 })
diff --git a/packages/compiler-dom/src/transforms/vHtml.ts b/packages/compiler-dom/src/transforms/vHtml.ts
index 37e84bc61..2e3b824a7 100644
--- a/packages/compiler-dom/src/transforms/vHtml.ts
+++ b/packages/compiler-dom/src/transforms/vHtml.ts
@@ -1,13 +1,32 @@
 import {
+  type ComponentNode,
   type DirectiveTransform,
   ElementTypes,
+  RESOLVE_DYNAMIC_COMPONENT,
   createObjectProperty,
   createSimpleExpression,
+  resolveComponentType,
 } from '@vue/compiler-core'
 import { DOMErrorCodes, createDOMCompilerError } from '../errors'
+import { isObject } from '@vue/shared'
+import { V_HTML } from '../runtimeHelpers'
 
 export const transformVHtml: DirectiveTransform = (dir, node, context) => {
   const { exp, loc } = dir
+  const { tag } = node
+  const isComponent = node.tagType === ElementTypes.COMPONENT
+  let vnodeTag = isComponent
+    ? resolveComponentType(node as ComponentNode, context)
+    : `"${tag}"`
+
+  const isDynamicComponent =
+    isObject(vnodeTag) && vnodeTag.callee === RESOLVE_DYNAMIC_COMPONENT
+  if (isDynamicComponent) {
+    return {
+      props: [],
+      needRuntime: context.helper(V_HTML),
+    }
+  }
   if (node.tagType !== ElementTypes.ELEMENT) {
     context.onError(
       createDOMCompilerError(DOMErrorCodes.X_V_HTML_ON_INVALID_ELEMENT, loc),
diff --git a/packages/runtime-core/src/directives.ts b/packages/runtime-core/src/directives.ts
index f6a33f5a2..a36ed086e 100644
--- a/packages/runtime-core/src/directives.ts
+++ b/packages/runtime-core/src/directives.ts
@@ -12,7 +12,12 @@ return withDirectives(h(comp), [
 */
 
 import type { VNode } from './vnode'
-import { EMPTY_OBJ, isBuiltInDirective, isFunction } from '@vue/shared'
+import {
+  EMPTY_OBJ,
+  ShapeFlags,
+  isBuiltInDirective,
+  isFunction,
+} from '@vue/shared'
 import { warn } from './warning'
 import {
   type ComponentInternalInstance,
@@ -127,6 +132,12 @@ export type DirectiveArguments = Array<
   | [Directive | undefined, any, string | undefined, DirectiveModifiers]
 >
 
+function isComponent(vnode: VNode): boolean {
+  const { shapeFlag } = vnode
+  if (shapeFlag & ShapeFlags.COMPONENT) return true
+  return false
+}
+
 /**
  * Adds directives to a VNode.
  */
@@ -143,6 +154,11 @@ export function withDirectives<T extends VNode>(
   for (let i = 0; i < directives.length; i++) {
     let [dir, value, arg, modifiers = EMPTY_OBJ] = directives[i]
     if (dir) {
+      // @ts-expect-error check v-html
+      if (isComponent(vnode) && dir.name === '__v-html') {
+        warn(`v-html can only be used on elements.`, vnode)
+        continue
+      }
       if (isFunction(dir)) {
         dir = {
           mounted: dir,
diff --git a/packages/runtime-dom/src/directives/vHtml.ts b/packages/runtime-dom/src/directives/vHtml.ts
new file mode 100644
index 000000000..c1e839b8b
--- /dev/null
+++ b/packages/runtime-dom/src/directives/vHtml.ts
@@ -0,0 +1,23 @@
+import type { ObjectDirective } from '@vue/runtime-core'
+
+export type VHtmlElementDirective = ObjectDirective<HTMLElement> & {
+  name: '__v-html'
+}
+// only work with resolveDynamicComponent
+export const vHtml: VHtmlElementDirective = {
+  name: '__v-html',
+  beforeMount(el, { value }) {
+    setInnerHTML(el, value)
+  },
+  updated(el, { value, oldValue }) {
+    if (!value === !oldValue) return
+    setInnerHTML(el, value)
+  },
+  beforeUnmount(el, { value }) {
+    setInnerHTML(el, value)
+  },
+}
+
+function setInnerHTML(el: HTMLElement, value: unknown): void {
+  el.innerHTML = String(value)
+}
diff --git a/packages/runtime-dom/src/index.ts b/packages/runtime-dom/src/index.ts
index ca9a307dd..f626c00d0 100644
--- a/packages/runtime-dom/src/index.ts
+++ b/packages/runtime-dom/src/index.ts
@@ -282,6 +282,7 @@ export {
 } from './directives/vModel'
 export { withModifiers, withKeys } from './directives/vOn'
 export { vShow } from './directives/vShow'
+export { vHtml } from './directives/vHtml'
 
 import { initVModelForSSR } from './directives/vModel'
 import { initVShowForSSR } from './directives/vShow'