diff --git a/packages/core/integration-tests/test/integration/bundle-queue-runtime/a.html b/packages/core/integration-tests/test/integration/bundle-queue-runtime/a.html
new file mode 100644
index 00000000000..ac8c6e251ad
--- /dev/null
+++ b/packages/core/integration-tests/test/integration/bundle-queue-runtime/a.html
@@ -0,0 +1 @@
+<script type="module" src="./a.js"></script>
\ No newline at end of file
diff --git a/packages/core/integration-tests/test/integration/bundle-queue-runtime/a.js b/packages/core/integration-tests/test/integration/bundle-queue-runtime/a.js
new file mode 100644
index 00000000000..0ed5c30080a
--- /dev/null
+++ b/packages/core/integration-tests/test/integration/bundle-queue-runtime/a.js
@@ -0,0 +1 @@
+export default 'a';
diff --git a/packages/core/integration-tests/test/integration/bundle-queue-runtime/b.js b/packages/core/integration-tests/test/integration/bundle-queue-runtime/b.js
new file mode 100644
index 00000000000..a68ac2819dc
--- /dev/null
+++ b/packages/core/integration-tests/test/integration/bundle-queue-runtime/b.js
@@ -0,0 +1 @@
+export default 'b';
diff --git a/packages/core/integration-tests/test/integration/bundle-queue-runtime/c.js b/packages/core/integration-tests/test/integration/bundle-queue-runtime/c.js
new file mode 100644
index 00000000000..37a4d86fac7
--- /dev/null
+++ b/packages/core/integration-tests/test/integration/bundle-queue-runtime/c.js
@@ -0,0 +1 @@
+export default 'c';
diff --git a/packages/core/integration-tests/test/integration/bundle-queue-runtime/index.html b/packages/core/integration-tests/test/integration/bundle-queue-runtime/index.html
new file mode 100644
index 00000000000..95526304133
--- /dev/null
+++ b/packages/core/integration-tests/test/integration/bundle-queue-runtime/index.html
@@ -0,0 +1 @@
+<script type="module" src="./index.js"></script>
\ No newline at end of file
diff --git a/packages/core/integration-tests/test/integration/bundle-queue-runtime/index.js b/packages/core/integration-tests/test/integration/bundle-queue-runtime/index.js
new file mode 100644
index 00000000000..36dc3214941
--- /dev/null
+++ b/packages/core/integration-tests/test/integration/bundle-queue-runtime/index.js
@@ -0,0 +1,5 @@
+import a from './a';
+import b from './b';
+import c from './c';
+
+result([a, b, c]);
diff --git a/packages/core/integration-tests/test/integration/bundle-queue-runtime/package.json b/packages/core/integration-tests/test/integration/bundle-queue-runtime/package.json
new file mode 100644
index 00000000000..787e5fddbda
--- /dev/null
+++ b/packages/core/integration-tests/test/integration/bundle-queue-runtime/package.json
@@ -0,0 +1,8 @@
+{
+    "@parcel/bundler-default": {
+        "minBundleSize": 0
+    },
+    "@parcel/packager-js": {
+        "unstable_asyncBundleRuntime": true
+    }
+}
\ No newline at end of file
diff --git a/packages/core/integration-tests/test/integration/bundle-queue-runtime/yarn.lock b/packages/core/integration-tests/test/integration/bundle-queue-runtime/yarn.lock
new file mode 100644
index 00000000000..e69de29bb2d
diff --git a/packages/core/integration-tests/test/scope-hoisting.js b/packages/core/integration-tests/test/scope-hoisting.js
index 91ac3df6921..af5be86b833 100644
--- a/packages/core/integration-tests/test/scope-hoisting.js
+++ b/packages/core/integration-tests/test/scope-hoisting.js
@@ -5861,4 +5861,36 @@ describe('scope hoisting', function () {
       assert.equal(res, 'target');
     });
   });
+
+  it('should add experimental bundle queue runtime for out of order bundle execution', async function () {
+    let b = await bundle(
+      [
+        path.join(__dirname, 'integration/bundle-queue-runtime/index.html'),
+        path.join(__dirname, 'integration/bundle-queue-runtime/a.html'),
+      ],
+      {
+        mode: 'production',
+        defaultTargetOptions: {
+          shouldScopeHoist: true,
+          shouldOptimize: false,
+          outputFormat: 'esmodule',
+        },
+      },
+    );
+
+    let contents = await outputFS.readFile(
+      b.getBundles().find(b => /index.*\.js/.test(b.filePath)).filePath,
+      'utf8',
+    );
+    assert(contents.includes('$parcel$global.rwr('));
+
+    let result;
+    await run(b, {
+      result: r => {
+        result = r;
+      },
+    });
+
+    assert.deepEqual(await result, ['a', 'b', 'c']);
+  });
 });
diff --git a/packages/packagers/js/src/ESMOutputFormat.js b/packages/packagers/js/src/ESMOutputFormat.js
index aa53bdd02cc..ef79036c9cd 100644
--- a/packages/packagers/js/src/ESMOutputFormat.js
+++ b/packages/packagers/js/src/ESMOutputFormat.js
@@ -106,6 +106,14 @@ export class ESMOutputFormat implements OutputFormat {
       lines++;
     }
 
+    if (this.packager.shouldBundleQueue(this.packager.bundle)) {
+      // Should be last thing the bundle executes on intial eval
+      res += `\n$parcel$global.rlb(${JSON.stringify(
+        this.packager.bundle.publicId,
+      )})`;
+      lines++;
+    }
+
     return [res, lines];
   }
 }
diff --git a/packages/packagers/js/src/ScopeHoistingPackager.js b/packages/packagers/js/src/ScopeHoistingPackager.js
index 477bc179a7f..18da60fa952 100644
--- a/packages/packagers/js/src/ScopeHoistingPackager.js
+++ b/packages/packagers/js/src/ScopeHoistingPackager.js
@@ -27,7 +27,7 @@ import path from 'path';
 import {ESMOutputFormat} from './ESMOutputFormat';
 import {CJSOutputFormat} from './CJSOutputFormat';
 import {GlobalOutputFormat} from './GlobalOutputFormat';
-import {prelude, helpers} from './helpers';
+import {prelude, helpers, bundleQueuePrelude, fnExpr} from './helpers';
 import {replaceScriptDependencies, getSpecifier} from './utils';
 
 // https://262.ecma-international.org/6.0/#sec-names-and-keywords
@@ -74,6 +74,7 @@ export class ScopeHoistingPackager {
   bundleGraph: BundleGraph<NamedBundle>;
   bundle: NamedBundle;
   parcelRequireName: string;
+  useAsyncBundleRuntime: boolean;
   outputFormat: OutputFormat;
   isAsyncBundle: boolean;
   globalNames: $ReadOnlySet<string>;
@@ -101,11 +102,13 @@ export class ScopeHoistingPackager {
     bundleGraph: BundleGraph<NamedBundle>,
     bundle: NamedBundle,
     parcelRequireName: string,
+    useAsyncBundleRuntime: boolean,
   ) {
     this.options = options;
     this.bundleGraph = bundleGraph;
     this.bundle = bundle;
     this.parcelRequireName = parcelRequireName;
+    this.useAsyncBundleRuntime = useAsyncBundleRuntime;
 
     let OutputFormat = OUTPUT_FORMATS[this.bundle.env.outputFormat];
     this.outputFormat = new OutputFormat(this);
@@ -202,6 +205,8 @@ export class ScopeHoistingPackager {
       mainEntry = null;
     }
 
+    let needsBundleQueue = this.shouldBundleQueue(this.bundle);
+
     // If any of the entry assets are wrapped, call parcelRequire so they are executed.
     for (let entry of entries) {
       if (this.wrappedAssets.has(entry.id) && !this.isScriptEntry(entry)) {
@@ -210,13 +215,22 @@ export class ScopeHoistingPackager {
         )});\n`;
 
         let entryExports = entry.symbols.get('*')?.local;
+
         if (
           entryExports &&
           entry === mainEntry &&
           this.exportedSymbols.has(entryExports)
         ) {
+          invariant(
+            !needsBundleQueue,
+            'Entry exports are not yet compaitble with async bundles',
+          );
           res += `\nvar ${entryExports} = ${parcelRequire}`;
         } else {
+          if (needsBundleQueue) {
+            parcelRequire = this.runWhenReady(this.bundle, parcelRequire);
+          }
+
           res += `\n${parcelRequire}`;
         }
 
@@ -264,6 +278,38 @@ export class ScopeHoistingPackager {
     };
   }
 
+  shouldBundleQueue(bundle: NamedBundle): boolean {
+    return (
+      this.useAsyncBundleRuntime &&
+      bundle.type === 'js' &&
+      bundle.bundleBehavior !== 'inline' &&
+      bundle.env.outputFormat === 'esmodule' &&
+      !bundle.env.isIsolated() &&
+      bundle.bundleBehavior !== 'isolated' &&
+      !this.bundleGraph.hasParentBundleOfType(bundle, 'js')
+    );
+  }
+
+  runWhenReady(bundle: NamedBundle, codeToRun: string): string {
+    let deps = this.bundleGraph
+      .getReferencedBundles(bundle)
+      .filter(b => this.shouldBundleQueue(b))
+      .map(b => b.publicId);
+
+    if (deps.length === 0) {
+      // If no deps we can safely execute immediately
+      return codeToRun;
+    }
+
+    let params = [
+      JSON.stringify(this.bundle.publicId),
+      fnExpr(this.bundle.env, [], [codeToRun]),
+      JSON.stringify(deps),
+    ];
+
+    return `$parcel$global.rwr(${params.join(', ')});`;
+  }
+
   async loadAssets(): Promise<Array<Asset>> {
     let queue = new PromiseQueue({maxConcurrent: 32});
     let wrapped = [];
@@ -599,6 +645,14 @@ ${code}
       this.needsPrelude = true;
     }
 
+    if (
+      !shouldWrap &&
+      this.shouldBundleQueue(this.bundle) &&
+      this.bundle.getEntryAssets().some(entry => entry.id === asset.id)
+    ) {
+      code = this.runWhenReady(this.bundle, code);
+    }
+
     return [code, sourceMap, lineCount];
   }
 
@@ -1199,6 +1253,14 @@ ${code}
         if (enableSourceMaps) {
           lines += countLines(preludeCode) - 1;
         }
+
+        if (this.shouldBundleQueue(this.bundle)) {
+          let bundleQueuePreludeCode = bundleQueuePrelude(this.bundle.env);
+          res += bundleQueuePreludeCode;
+          if (enableSourceMaps) {
+            lines += countLines(bundleQueuePreludeCode) - 1;
+          }
+        }
       } else {
         // Otherwise, get the current parcelRequire global.
         res += `var parcelRequire = $parcel$global[${JSON.stringify(
diff --git a/packages/packagers/js/src/helpers.js b/packages/packagers/js/src/helpers.js
index 581269db6eb..4d31038755b 100644
--- a/packages/packagers/js/src/helpers.js
+++ b/packages/packagers/js/src/helpers.js
@@ -32,6 +32,74 @@ if (parcelRequire == null) {
 }
 `;
 
+export const fnExpr = (
+  env: Environment,
+  params: Array<string>,
+  body: Array<string>,
+): string => {
+  let block = `{ ${body.join(' ')} }`;
+
+  if (env.supports('arrow-functions')) {
+    return `(${params.join(', ')}) => ${block}`;
+  }
+
+  return `function (${params.join(', ')}) ${block}`;
+};
+
+export const bundleQueuePrelude = (env: Environment): string => `
+if (!$parcel$global.lb) {
+  // Set of loaded bundles
+  $parcel$global.lb = new Set();
+  // Queue of bundles to execute once they're dep bundles are loaded
+  $parcel$global.bq = [];
+
+  // Register loaded bundle
+  $parcel$global.rlb = ${fnExpr(
+    env,
+    ['bundle'],
+    ['$parcel$global.lb.add(bundle);', '$parcel$global.pq();'],
+  )}
+
+  // Run when ready
+  $parcel$global.rwr = ${fnExpr(
+    env,
+    // b = bundle public id
+    // r = run function to execute the bundle entry
+    // d = list of dependent bundles this bundle requires before executing
+    ['b', 'r', 'd'],
+    ['$parcel$global.bq.push({b, r, d});', '$parcel$global.pq();'],
+  )}
+
+  // Process queue
+  $parcel$global.pq = ${fnExpr(
+    env,
+    [],
+    [
+      `var runnableEntry = $parcel$global.bq.find(${fnExpr(
+        env,
+        ['i'],
+        [
+          `return i.d.every(${fnExpr(
+            env,
+            ['dep'],
+            ['return $parcel$global.lb.has(dep);'],
+          )});`,
+        ],
+      )});`,
+      'if (runnableEntry) {',
+      `$parcel$global.bq = $parcel$global.bq.filter(${fnExpr(
+        env,
+        ['i'],
+        ['return i.b !== runnableEntry.b;'],
+      )});`,
+      'runnableEntry.r();',
+      '$parcel$global.pq();',
+      '}',
+    ],
+  )}
+}
+`;
+
 const $parcel$export = `
 function $parcel$export(e, n, v, s) {
   Object.defineProperty(e, n, {get: v, set: s, enumerable: true, configurable: true});
diff --git a/packages/packagers/js/src/index.js b/packages/packagers/js/src/index.js
index 73f1ebc0aa6..f73e7d51ed7 100644
--- a/packages/packagers/js/src/index.js
+++ b/packages/packagers/js/src/index.js
@@ -2,24 +2,65 @@
 import type {Async} from '@parcel/types';
 import type SourceMap from '@parcel/source-map';
 import {Packager} from '@parcel/plugin';
-import {replaceInlineReferences, replaceURLReferences} from '@parcel/utils';
+import {
+  replaceInlineReferences,
+  replaceURLReferences,
+  validateSchema,
+  type SchemaEntity,
+} from '@parcel/utils';
+import {encodeJSONKeyComponent} from '@parcel/diagnostic';
 import {hashString} from '@parcel/hash';
 import path from 'path';
 import nullthrows from 'nullthrows';
 import {DevPackager} from './DevPackager';
 import {ScopeHoistingPackager} from './ScopeHoistingPackager';
 
+type JSPackagerConfig = {|
+  parcelRequireName: string,
+  unstable_asyncBundleRuntime: boolean,
+|};
+
+const CONFIG_SCHEMA: SchemaEntity = {
+  type: 'object',
+  properties: {
+    unstable_asyncBundleRuntime: {
+      type: 'boolean',
+    },
+  },
+  additionalProperties: false,
+};
+
 export default (new Packager({
-  async loadConfig({config, options}) {
+  async loadConfig({config, options}): Promise<JSPackagerConfig> {
     // Generate a name for the global parcelRequire function that is unique to this project.
     // This allows multiple parcel builds to coexist on the same page.
     let pkg = await config.getConfigFrom(
       path.join(options.projectRoot, 'index'),
       ['package.json'],
     );
+
+    let packageKey = '@parcel/packager-js';
+
+    if (pkg?.contents[packageKey]) {
+      validateSchema.diagnostic(
+        CONFIG_SCHEMA,
+        {
+          data: pkg?.contents[packageKey],
+          source: await options.inputFS.readFile(pkg.filePath, 'utf8'),
+          filePath: pkg.filePath,
+          prependKey: `/${encodeJSONKeyComponent(packageKey)}`,
+        },
+        packageKey,
+        `Invalid config for ${packageKey}`,
+      );
+    }
+
     let name = pkg?.contents?.name ?? '';
     return {
       parcelRequireName: 'parcelRequire' + hashString(name).slice(-4),
+      unstable_asyncBundleRuntime: Boolean(
+        pkg?.contents[packageKey]?.unstable_asyncBundleRuntime,
+      ),
     };
   },
   async package({
@@ -51,6 +92,7 @@ export default (new Packager({
             bundleGraph,
             bundle,
             nullthrows(config).parcelRequireName,
+            nullthrows(config).unstable_asyncBundleRuntime,
           )
         : new DevPackager(
             options,