diff --git a/packages/react-devtools-shared/src/backend/agent.js b/packages/react-devtools-shared/src/backend/agent.js
index 5c4a510948a08..ac155fc3851bb 100644
--- a/packages/react-devtools-shared/src/backend/agent.js
+++ b/packages/react-devtools-shared/src/backend/agent.js
@@ -737,17 +737,19 @@ export default class Agent extends EventEmitter<{
     this.emit('shutdown');
   };
 
-  startProfiling: (recordChangeDescriptions: boolean) => void =
-    recordChangeDescriptions => {
-      this._isProfiling = true;
-      for (const rendererID in this._rendererInterfaces) {
-        const renderer = ((this._rendererInterfaces[
-          (rendererID: any)
-        ]: any): RendererInterface);
-        renderer.startProfiling(recordChangeDescriptions);
-      }
-      this._bridge.send('profilingStatus', this._isProfiling);
-    };
+  startProfiling: (
+    recordChangeDescriptions: boolean,
+    recordTimeline: boolean,
+  ) => void = (recordChangeDescriptions, recordTimeline) => {
+    this._isProfiling = true;
+    for (const rendererID in this._rendererInterfaces) {
+      const renderer = ((this._rendererInterfaces[
+        (rendererID: any)
+      ]: any): RendererInterface);
+      renderer.startProfiling(recordChangeDescriptions, recordTimeline);
+    }
+    this._bridge.send('profilingStatus', this._isProfiling);
+  };
 
   stopProfiling: () => void = () => {
     this._isProfiling = false;
diff --git a/packages/react-devtools-shared/src/backend/fiber/renderer.js b/packages/react-devtools-shared/src/backend/fiber/renderer.js
index 103c0b0d71327..31c20b95a0341 100644
--- a/packages/react-devtools-shared/src/backend/fiber/renderer.js
+++ b/packages/react-devtools-shared/src/backend/fiber/renderer.js
@@ -5176,7 +5176,10 @@ export function attach(
     }
   }
 
-  function startProfiling(shouldRecordChangeDescriptions: boolean) {
+  function startProfiling(
+    shouldRecordChangeDescriptions: boolean,
+    recordTimeline: boolean,
+  ) {
     if (isProfiling) {
       return;
     }
@@ -5212,7 +5215,7 @@ export function attach(
     rootToCommitProfilingMetadataMap = new Map();
 
     if (toggleProfilingStatus !== null) {
-      toggleProfilingStatus(true);
+      toggleProfilingStatus(true, profilingSettings.recordTimeline);
     }
   }
 
@@ -5221,13 +5224,16 @@ export function attach(
     recordChangeDescriptions = false;
 
     if (toggleProfilingStatus !== null) {
-      toggleProfilingStatus(false);
+      toggleProfilingStatus(false, profilingSettings.recordTimeline);
     }
   }
 
   // Automatically start profiling so that we don't miss timing info from initial "mount".
   if (shouldStartProfilingRightNow) {
-    startProfiling(profilingSettings.recordChangeDescriptions);
+    startProfiling(
+      profilingSettings.recordChangeDescriptions,
+      profilingSettings.recordTimeline,
+    );
   }
 
   function getNearestFiber(devtoolsInstance: DevToolsInstance): null | Fiber {
diff --git a/packages/react-devtools-shared/src/backend/profilingHooks.js b/packages/react-devtools-shared/src/backend/profilingHooks.js
index 47a01035308e2..a8111713c9fb2 100644
--- a/packages/react-devtools-shared/src/backend/profilingHooks.js
+++ b/packages/react-devtools-shared/src/backend/profilingHooks.js
@@ -97,7 +97,10 @@ export function setPerformanceMock_ONLY_FOR_TESTING(
 }
 
 export type GetTimelineData = () => TimelineData | null;
-export type ToggleProfilingStatus = (value: boolean) => void;
+export type ToggleProfilingStatus = (
+  value: boolean,
+  recordTimeline?: boolean,
+) => void;
 
 type Response = {
   getTimelineData: GetTimelineData,
@@ -839,7 +842,10 @@ export function createProfilingHooks({
     }
   }
 
-  function toggleProfilingStatus(value: boolean) {
+  function toggleProfilingStatus(
+    value: boolean,
+    recordTimeline: boolean = false,
+  ) {
     if (isProfiling !== value) {
       isProfiling = value;
 
@@ -875,34 +881,45 @@ export function createProfilingHooks({
         currentReactComponentMeasure = null;
         currentReactMeasuresStack = [];
         currentFiberStacks = new Map();
-        currentTimelineData = {
-          // Session wide metadata; only collected once.
-          internalModuleSourceToRanges,
-          laneToLabelMap: laneToLabelMap || new Map(),
-          reactVersion,
-
-          // Data logged by React during profiling session.
-          componentMeasures: [],
-          schedulingEvents: [],
-          suspenseEvents: [],
-          thrownErrors: [],
-
-          // Data inferred based on what React logs.
-          batchUIDToMeasuresMap: new Map(),
-          duration: 0,
-          laneToReactMeasureMap,
-          startTime: 0,
-
-          // Data only available in Chrome profiles.
-          flamechart: [],
-          nativeEvents: [],
-          networkMeasures: [],
-          otherUserTimingMarks: [],
-          snapshots: [],
-          snapshotHeight: 0,
-        };
+        if (recordTimeline) {
+          currentTimelineData = {
+            // Session wide metadata; only collected once.
+            internalModuleSourceToRanges,
+            laneToLabelMap: laneToLabelMap || new Map(),
+            reactVersion,
+
+            // Data logged by React during profiling session.
+            componentMeasures: [],
+            schedulingEvents: [],
+            suspenseEvents: [],
+            thrownErrors: [],
+
+            // Data inferred based on what React logs.
+            batchUIDToMeasuresMap: new Map(),
+            duration: 0,
+            laneToReactMeasureMap,
+            startTime: 0,
+
+            // Data only available in Chrome profiles.
+            flamechart: [],
+            nativeEvents: [],
+            networkMeasures: [],
+            otherUserTimingMarks: [],
+            snapshots: [],
+            snapshotHeight: 0,
+          };
+        }
         nextRenderShouldStartNewBatch = true;
       } else {
+        // This is __EXPENSIVE__.
+        // We could end up with hundreds of state updated, and for each one of them
+        // would try to create a component stack with possibly hundreds of Fibers.
+        // Creating a cache of component stacks won't help, generating a single stack is already expensive enough.
+        // We should find a way to lazily generate component stacks on demand, when user inspects a specific event.
+        // If we succeed with moving React DevTools Timeline Profiler to Performance panel, then Timeline Profiler would probably be removed.
+        // If not, then once enableOwnerStacks is adopted, revisit this again and cache component stacks per Fiber,
+        // but only return them when needed, sending hundreds of component stacks is beyond the Bridge's bandwidth.
+
         // Postprocess Profile data
         if (currentTimelineData !== null) {
           currentTimelineData.schedulingEvents.forEach(event => {
diff --git a/packages/react-devtools-shared/src/backend/types.js b/packages/react-devtools-shared/src/backend/types.js
index 61546f2c289a6..9d9d9a8eb5e65 100644
--- a/packages/react-devtools-shared/src/backend/types.js
+++ b/packages/react-devtools-shared/src/backend/types.js
@@ -419,7 +419,10 @@ export type RendererInterface = {
   renderer: ReactRenderer | null,
   setTraceUpdatesEnabled: (enabled: boolean) => void,
   setTrackedPath: (path: Array<PathFrame> | null) => void,
-  startProfiling: (recordChangeDescriptions: boolean) => void,
+  startProfiling: (
+    recordChangeDescriptions: boolean,
+    recordTimeline: boolean,
+  ) => void,
   stopProfiling: () => void,
   storeAsGlobal: (
     id: number,
@@ -487,6 +490,7 @@ export type DevToolsBackend = {
 
 export type ProfilingSettings = {
   recordChangeDescriptions: boolean,
+  recordTimeline: boolean,
 };
 
 export type DevToolsHook = {
diff --git a/packages/react-devtools-shared/src/bridge.js b/packages/react-devtools-shared/src/bridge.js
index dde6e7c3ffff8..854b8d9601cdb 100644
--- a/packages/react-devtools-shared/src/bridge.js
+++ b/packages/react-devtools-shared/src/bridge.js
@@ -232,7 +232,7 @@ type FrontendEvents = {
   setTraceUpdatesEnabled: [boolean],
   shutdown: [],
   startInspectingHost: [],
-  startProfiling: [boolean],
+  startProfiling: [boolean, boolean],
   stopInspectingHost: [boolean],
   stopProfiling: [],
   storeAsGlobal: [StoreAsGlobalParams],
diff --git a/packages/react-devtools-shared/src/devtools/ProfilerStore.js b/packages/react-devtools-shared/src/devtools/ProfilerStore.js
index 5ed7e69f294b9..30b3c9035a83f 100644
--- a/packages/react-devtools-shared/src/devtools/ProfilerStore.js
+++ b/packages/react-devtools-shared/src/devtools/ProfilerStore.js
@@ -191,7 +191,11 @@ export default class ProfilerStore extends EventEmitter<{
   }
 
   startProfiling(): void {
-    this._bridge.send('startProfiling', this._store.recordChangeDescriptions);
+    this._bridge.send(
+      'startProfiling',
+      this._store.recordChangeDescriptions,
+      this._store.supportsTimeline,
+    );
 
     this._isProfilingBasedOnUserInput = true;
     this.emit('isProfiling');
diff --git a/packages/react-devtools-shared/src/hook.js b/packages/react-devtools-shared/src/hook.js
index bca5d4142d29e..0d702947b4566 100644
--- a/packages/react-devtools-shared/src/hook.js
+++ b/packages/react-devtools-shared/src/hook.js
@@ -52,6 +52,7 @@ const targetConsole: Object = console;
 
 const defaultProfilingSettings: ProfilingSettings = {
   recordChangeDescriptions: false,
+  recordTimeline: false,
 };
 
 export function installHook(