diff --git a/.gitignore b/.gitignore
index 9a0d37330ba37..0474f7c1883a7 100644
--- a/.gitignore
+++ b/.gitignore
@@ -24,6 +24,7 @@ coverage
 # test output
 test/**/out*
 test/**/next-env.d.ts
+test/**/tsconfig.json
 .DS_Store
 /e2e-tests
 test/tmp/**
@@ -46,4 +47,4 @@ test-timings.json
 
 # Cache
 *.tsbuildinfo
-.swc/
\ No newline at end of file
+.swc/
diff --git a/packages/next/shared/lib/dynamic.tsx b/packages/next/shared/lib/dynamic.tsx
index d3b639b68ef34..042438119d39a 100644
--- a/packages/next/shared/lib/dynamic.tsx
+++ b/packages/next/shared/lib/dynamic.tsx
@@ -2,11 +2,19 @@ import React, { lazy, Suspense } from 'react'
 import Loadable from './loadable'
 import NoSSR from './dynamic-no-ssr'
 
-type ComponentModule<P> = { default: React.ComponentType<P> }
+type ComponentModule<P = {}> = { default: React.ComponentType<P> }
 
-export type LoaderComponent<P = {}> = Promise<ComponentModule<P>>
+export declare type LoaderComponent<P = {}> = Promise<
+  React.ComponentType<P> | ComponentModule<P>
+>
 
-export type Loader<P = {}> = () => LoaderComponent<P>
+type NormalizedLoader<P = {}> = () => Promise<{
+  default: React.ComponentType<P>
+}>
+
+export declare type Loader<P = {}> =
+  | (() => LoaderComponent<P>)
+  | LoaderComponent<P>
 
 export type LoaderMap = { [module: string]: () => Loader<any> }
 
@@ -26,8 +34,8 @@ export type DynamicOptionsLoadingProps = {
 // Normalize loader to return the module as form { default: Component } for `React.lazy`.
 // Also for backward compatible since next/dynamic allows to resolve a component directly with loader
 // Client component reference proxy need to be converted to a module.
-function convertModule<T>(mod: ComponentModule<T>) {
-  return { default: mod.default || mod }
+function convertModule<P>(mod: React.ComponentType<P> | ComponentModule<P>) {
+  return { default: (mod as ComponentModule<P>).default || mod }
 }
 
 export type DynamicOptions<P = {}> = LoadableGeneratedOptions & {
@@ -50,7 +58,7 @@ export type LoadableFn<P = {}> = (
 export type LoadableComponent<P = {}> = React.ComponentType<P>
 
 export function noSSR<P = {}>(
-  LoadableInitializer: Loader,
+  LoadableInitializer: NormalizedLoader<P>,
   loadableOptions: DynamicOptions<P>
 ): React.ComponentType<P> {
   // Removing webpack and modules means react-loadable won't try preloading
@@ -118,7 +126,7 @@ export default function dynamic<P = {}>(
   // Support for passing options, eg: dynamic(import('../hello-world'), {loading: () => <p>Loading something</p>})
   loadableOptions = { ...loadableOptions, ...options }
 
-  const loaderFn = loadableOptions.loader as Loader<P>
+  const loaderFn = loadableOptions.loader as () => LoaderComponent<P>
   const loader = () => loaderFn().then(convertModule)
 
   // coming from build/babel/plugins/react-loadable-plugin.js
@@ -135,7 +143,7 @@ export default function dynamic<P = {}>(
   if (typeof loadableOptions.ssr === 'boolean') {
     if (!loadableOptions.ssr) {
       delete loadableOptions.ssr
-      return noSSR(loader as Loader, loadableOptions)
+      return noSSR(loader, loadableOptions)
     }
     delete loadableOptions.ssr
   }
diff --git a/test/production/typescript-basic/app/components/named.tsx b/test/production/typescript-basic/app/components/named.tsx
new file mode 100644
index 0000000000000..4af8c9472dd33
--- /dev/null
+++ b/test/production/typescript-basic/app/components/named.tsx
@@ -0,0 +1,3 @@
+export function NamedExport() {
+  return <>named-export</>
+}
diff --git a/test/production/typescript-basic/app/pages/dynamic.tsx b/test/production/typescript-basic/app/pages/dynamic.tsx
new file mode 100644
index 0000000000000..b008af163770a
--- /dev/null
+++ b/test/production/typescript-basic/app/pages/dynamic.tsx
@@ -0,0 +1,10 @@
+import React from 'react'
+import dynamic from 'next/dynamic'
+
+const NamedExport = dynamic(() =>
+  import('../components/named').then((mod) => mod.NamedExport)
+)
+
+export default function Dynamic() {
+  return <NamedExport />
+}