diff --git a/doc/api/errors.md b/doc/api/errors.md
index 82f59190bbb9e9..6353228f444c37 100644
--- a/doc/api/errors.md
+++ b/doc/api/errors.md
@@ -889,6 +889,11 @@ provided.
 Encoding provided to `TextDecoder()` API was not one of the
 [WHATWG Supported Encodings][].
 
+<a id="ERR_EVAL_ESM_CANNOT_PRINT"></a>
+### `ERR_EVAL_ESM_CANNOT_PRINT`
+
+`--print` cannot be used with ESM input.
+
 <a id="ERR_EXECUTION_ENVIRONMENT_NOT_AVAILABLE"></a>
 ### `ERR_EXECUTION_ENVIRONMENT_NOT_AVAILABLE`
 
diff --git a/doc/api/esm.md b/doc/api/esm.md
index 1c1317b6df7cb7..30534a5cdaa49b 100644
--- a/doc/api/esm.md
+++ b/doc/api/esm.md
@@ -36,8 +36,8 @@ initial input, or when referenced by `import` statements within ES module code:
 * Files ending in `.js` when the nearest parent `package.json` file contains a
   top-level field `"type"` with a value of `"module"`.
 
-* Strings passed in as an argument to `--eval` or `--print`, or piped to
-  `node` via `STDIN`, with the flag `--input-type=module`.
+* Strings passed in as an argument to `--eval`, or piped to `node` via `STDIN`,
+  with the flag `--input-type=module`.
 
 Node.js will treat as CommonJS all other forms of input, such as `.js` files
 where the nearest parent `package.json` file contains no top-level `"type"`
@@ -52,8 +52,8 @@ or when referenced by `import` statements within ES module code:
 * Files ending in `.js` when the nearest parent `package.json` file contains a
   top-level field `"type"` with a value of `"commonjs"`.
 
-* Strings passed in as an argument to `--eval` or `--print`, or piped to
-  `node` via `STDIN`, with the flag `--input-type=commonjs`.
+* Strings passed in as an argument to `--eval` or `--print`, or piped to `node`
+  via `STDIN`, with the flag `--input-type=commonjs`.
 
 ### `package.json` `"type"` field
 
@@ -159,9 +159,9 @@ package scope:
 
 ### `--input-type` flag
 
-Strings passed in as an argument to `--eval` or `--print` (or `-e` or `-p`), or
-piped to `node` via `STDIN`, will be treated as ES modules when the
-`--input-type=module` flag is set.
+Strings passed in as an argument to `--eval` (or `-e`), or piped to `node` via
+`STDIN`, will be treated as ES modules when the `--input-type=module` flag is
+set.
 
 ```sh
 node --input-type=module --eval "import { sep } from 'path'; console.log(sep);"
@@ -1076,6 +1076,32 @@ node --experimental-wasm-modules index.mjs
 
 would provide the exports interface for the instantiation of `module.wasm`.
 
+## Experimental Top-Level `await`
+
+When the `--experimental-top-level-await` flag is provided, `await` may be used
+in the top level (outside of async functions) within modules. This implements
+the [ECMAScript Top-Level `await` proposal][].
+
+Assuming an `a.mjs` with
+
+<!-- eslint-skip -->
+```js
+export const five = await Promise.resolve(5);
+```
+
+And a `b.mjs` with
+
+```js
+import { five } from './a.mjs';
+
+console.log(five); // Logs `5`
+```
+
+```bash
+node b.mjs # fails
+node --experimental-top-level-await b.mjs # works
+```
+
 ## Experimental Loaders
 
 **Note: This API is currently being redesigned and will still change.**
@@ -1779,6 +1805,7 @@ success!
 [Conditional Exports]: #esm_conditional_exports
 [Dynamic `import()`]: https://wiki.developer.mozilla.org/en-US/docs/Web/JavaScript/Reference/Statements/import#Dynamic_Imports
 [ECMAScript-modules implementation]: https://github.com/nodejs/modules/blob/master/doc/plan-for-new-modules-implementation.md
+[ECMAScript Top-Level `await` proposal]: https://github.com/tc39/proposal-top-level-await/
 [ES Module Integration Proposal for Web Assembly]: https://github.com/webassembly/esm-integration
 [Node.js EP for ES Modules]: https://github.com/nodejs/node-eps/blob/master/002-es-modules.md
 [Terminology]: #esm_terminology
diff --git a/doc/api/vm.md b/doc/api/vm.md
index 56e779cfb87be6..a6cd7a08831ae7 100644
--- a/doc/api/vm.md
+++ b/doc/api/vm.md
@@ -402,7 +402,10 @@ support is planned.
 ```js
 const vm = require('vm');
 
-const contextifiedObject = vm.createContext({ secret: 42 });
+const contextifiedObject = vm.createContext({
+  secret: 42,
+  print: console.log,
+});
 
 (async () => {
   // Step 1
@@ -418,6 +421,7 @@ const contextifiedObject = vm.createContext({ secret: 42 });
   const bar = new vm.SourceTextModule(`
     import s from 'foo';
     s;
+    print(s);
   `, { context: contextifiedObject });
 
   // Step 2
@@ -460,16 +464,11 @@ const contextifiedObject = vm.createContext({ secret: 42 });
 
   // Step 3
   //
-  // Evaluate the Module. The evaluate() method returns a Promise with a single
-  // property "result" that contains the result of the very last statement
-  // executed in the Module. In the case of `bar`, it is `s;`, which refers to
-  // the default export of the `foo` module, the `secret` we set in the
-  // beginning to 42.
+  // Evaluate the Module. The evaluate() method returns a promise which will
+  // resolve after the module has finished evaluating.
 
-  const { result } = await bar.evaluate();
-
-  console.log(result);
   // Prints 42.
+  await bar.evaluate();
 })();
 ```
 
@@ -512,17 +511,14 @@ in the ECMAScript specification.
 
 Evaluate the module.
 
-This must be called after the module has been linked; otherwise it will
-throw an error. It could be called also when the module has already been
-evaluated, in which case it will do one of the following two things:
-
-* return `undefined` if the initial evaluation ended in success (`module.status`
-  is `'evaluated'`)
-* rethrow the same exception the initial evaluation threw if the initial
-  evaluation ended in an error (`module.status` is `'errored'`)
+This must be called after the module has been linked; otherwise it will reject.
+It could be called also when the module has already been evaluated, in which
+case it will either do nothing if the initial evaluation ended in success
+(`module.status` is `'evaluated'`) or it will re-throw the exception that the
+initial evaluation resulted in (`module.status` is `'errored'`).
 
 This method cannot be called while the module is being evaluated
-(`module.status` is `'evaluating'`) to prevent infinite recursion.
+(`module.status` is `'evaluating'`).
 
 Corresponds to the [Evaluate() concrete method][] field of [Cyclic Module
 Record][]s in the ECMAScript specification.
diff --git a/lib/internal/errors.js b/lib/internal/errors.js
index c4e9fb3d59b4a3..b60643ba3b9e27 100644
--- a/lib/internal/errors.js
+++ b/lib/internal/errors.js
@@ -805,6 +805,7 @@ E('ERR_ENCODING_INVALID_ENCODED_DATA', function(encoding, ret) {
 }, TypeError);
 E('ERR_ENCODING_NOT_SUPPORTED', 'The "%s" encoding is not supported',
   RangeError);
+E('ERR_EVAL_ESM_CANNOT_PRINT', '--print cannot be used with ESM input', Error);
 E('ERR_FALSY_VALUE_REJECTION', function(reason) {
   this.reason = reason;
   return 'Promise was rejected with falsy value';
diff --git a/lib/internal/modules/esm/loader.js b/lib/internal/modules/esm/loader.js
index be5868553fa8df..135c541813d49c 100644
--- a/lib/internal/modules/esm/loader.js
+++ b/lib/internal/modules/esm/loader.js
@@ -167,10 +167,9 @@ class Loader {
     };
     const job = new ModuleJob(this, url, evalInstance, false, false);
     this.moduleMap.set(url, job);
-    const { module, result } = await job.run();
+    const { module } = await job.run();
     return {
       namespace: module.getNamespace(),
-      result
     };
   }
 
diff --git a/lib/internal/modules/esm/module_job.js b/lib/internal/modules/esm/module_job.js
index 3b79ac2df5ceef..b00a4fb2a58a7f 100644
--- a/lib/internal/modules/esm/module_job.js
+++ b/lib/internal/modules/esm/module_job.js
@@ -31,21 +31,26 @@ class ModuleJob {
     this.isMain = isMain;
     this.inspectBrk = inspectBrk;
 
-    // This is a Promise<{ module, reflect }>, whose fields will be copied
-    // onto `this` by `link()` below once it has been resolved.
-    this.modulePromise = moduleProvider.call(loader, url, isMain);
     this.module = undefined;
+    // Expose the promise to the ModuleWrap directly for linking below.
+    // `this.module` is also filled in below.
+    this.modulePromise = moduleProvider.call(loader, url, isMain);
 
     // Wait for the ModuleWrap instance being linked with all dependencies.
     const link = async () => {
       this.module = await this.modulePromise;
       assert(this.module instanceof ModuleWrap);
 
+      // Explicitly keeping track of dependency jobs is needed in order
+      // to flatten out the dependency graph below in `_instantiate()`,
+      // so that circular dependencies can't cause a deadlock by two of
+      // these `link` callbacks depending on each other.
       const dependencyJobs = [];
       const promises = this.module.link(async (specifier) => {
         const jobPromise = this.loader.getModuleJob(specifier, url);
         dependencyJobs.push(jobPromise);
-        return (await jobPromise).modulePromise;
+        const job = await jobPromise;
+        return job.modulePromise;
       });
 
       if (promises !== undefined)
@@ -59,25 +64,20 @@ class ModuleJob {
     // 'unhandled rejection' warnings.
     this.linked.catch(noop);
 
-    // instantiated == deep dependency jobs wrappers instantiated,
-    // module wrapper instantiated
+    // instantiated == deep dependency jobs wrappers are instantiated,
+    // and module wrapper is instantiated.
     this.instantiated = undefined;
   }
 
-  async instantiate() {
-    if (!this.instantiated) {
-      return this.instantiated = this._instantiate();
+  instantiate() {
+    if (this.instantiated === undefined) {
+      this.instantiated = this._instantiate();
     }
-    await this.instantiated;
-    return this.module;
+    return this.instantiated;
   }
 
-  // This method instantiates the module associated with this job and its
-  // entire dependency graph, i.e. creates all the module namespaces and the
-  // exported/imported variables.
   async _instantiate() {
     const jobsInGraph = new SafeSet();
-
     const addJobsToDependencyGraph = async (moduleJob) => {
       if (jobsInGraph.has(moduleJob)) {
         return;
@@ -87,6 +87,7 @@ class ModuleJob {
       return PromiseAll(dependencyJobs.map(addJobsToDependencyGraph));
     };
     await addJobsToDependencyGraph(this);
+
     try {
       if (!hasPausedEntry && this.inspectBrk) {
         hasPausedEntry = true;
@@ -122,19 +123,20 @@ class ModuleJob {
       }
       throw e;
     }
+
     for (const dependencyJob of jobsInGraph) {
       // Calling `this.module.instantiate()` instantiates not only the
       // ModuleWrap in this module, but all modules in the graph.
       dependencyJob.instantiated = resolvedPromise;
     }
-    return this.module;
   }
 
   async run() {
-    const module = await this.instantiate();
+    await this.instantiate();
     const timeout = -1;
     const breakOnSigint = false;
-    return { module, result: module.evaluate(timeout, breakOnSigint) };
+    await this.module.evaluate(timeout, breakOnSigint);
+    return { module: this.module };
   }
 }
 ObjectSetPrototypeOf(ModuleJob.prototype, null);
diff --git a/lib/internal/process/execution.js b/lib/internal/process/execution.js
index a6d6d2325a7f79..bbefcd47c74617 100644
--- a/lib/internal/process/execution.js
+++ b/lib/internal/process/execution.js
@@ -10,8 +10,9 @@ const path = require('path');
 const {
   codes: {
     ERR_INVALID_ARG_TYPE,
-    ERR_UNCAUGHT_EXCEPTION_CAPTURE_ALREADY_SET
-  }
+    ERR_UNCAUGHT_EXCEPTION_CAPTURE_ALREADY_SET,
+    ERR_EVAL_ESM_CANNOT_PRINT,
+  },
 } = require('internal/errors');
 
 const {
@@ -39,6 +40,9 @@ function tryGetCwd() {
 }
 
 function evalModule(source, print) {
+  if (print) {
+    throw new ERR_EVAL_ESM_CANNOT_PRINT();
+  }
   const { log, error } = require('internal/console/global');
   const { decorateErrorStack } = require('internal/util');
   const asyncESM = require('internal/process/esm_loader');
diff --git a/lib/internal/vm/module.js b/lib/internal/vm/module.js
index 992753ef680dbb..1d26e7a601b5bc 100644
--- a/lib/internal/vm/module.js
+++ b/lib/internal/vm/module.js
@@ -219,8 +219,7 @@ class Module {
         'must be one of linked, evaluated, or errored'
       );
     }
-    const result = this[kWrap].evaluate(timeout, breakOnSigint);
-    return { __proto__: null, result };
+    await this[kWrap].evaluate(timeout, breakOnSigint);
   }
 
   [customInspectSymbol](depth, options) {
diff --git a/src/module_wrap.cc b/src/module_wrap.cc
index 13dd331e6b23e1..59ef9daf727ed5 100644
--- a/src/module_wrap.cc
+++ b/src/module_wrap.cc
@@ -375,7 +375,13 @@ void ModuleWrap::Evaluate(const FunctionCallbackInfo<Value>& args) {
     return;
   }
 
-  args.GetReturnValue().Set(result.ToLocalChecked());
+  // If TLA is enabled, `result` is the evaluation's promise.
+  // Otherwise, `result` is the last evaluated value of the module,
+  // which could be a promise, which would result in it being incorrectly
+  // unwrapped when the higher level code awaits the evaluation.
+  if (env->isolate_data()->options()->experimental_top_level_await) {
+    args.GetReturnValue().Set(result.ToLocalChecked());
+  }
 }
 
 void ModuleWrap::GetNamespace(const FunctionCallbackInfo<Value>& args) {
@@ -387,13 +393,17 @@ void ModuleWrap::GetNamespace(const FunctionCallbackInfo<Value>& args) {
   Local<Module> module = obj->module_.Get(isolate);
 
   switch (module->GetStatus()) {
-    default:
+    case v8::Module::Status::kUninstantiated:
+    case v8::Module::Status::kInstantiating:
       return env->ThrowError(
-          "cannot get namespace, Module has not been instantiated");
+          "cannot get namespace, module has not been instantiated");
     case v8::Module::Status::kInstantiated:
     case v8::Module::Status::kEvaluating:
     case v8::Module::Status::kEvaluated:
+    case v8::Module::Status::kErrored:
       break;
+    default:
+      UNREACHABLE();
   }
 
   Local<Value> result = module->GetModuleNamespace();
@@ -616,19 +626,19 @@ MaybeLocal<Value> ModuleWrap::SyntheticModuleEvaluationStepsCallback(
   TryCatchScope try_catch(env);
   Local<Function> synthetic_evaluation_steps =
       obj->synthetic_evaluation_steps_.Get(isolate);
+  obj->synthetic_evaluation_steps_.Reset();
   MaybeLocal<Value> ret = synthetic_evaluation_steps->Call(context,
       obj->object(), 0, nullptr);
   if (ret.IsEmpty()) {
     CHECK(try_catch.HasCaught());
   }
-  obj->synthetic_evaluation_steps_.Reset();
   if (try_catch.HasCaught() && !try_catch.HasTerminated()) {
     CHECK(!try_catch.Message().IsEmpty());
     CHECK(!try_catch.Exception().IsEmpty());
     try_catch.ReThrow();
     return MaybeLocal<Value>();
   }
-  return ret;
+  return Undefined(isolate);
 }
 
 void ModuleWrap::SetSyntheticExport(const FunctionCallbackInfo<Value>& args) {
diff --git a/src/node_options-inl.h b/src/node_options-inl.h
index 682a1c6c47d020..4e1a12296bc77e 100644
--- a/src/node_options-inl.h
+++ b/src/node_options-inl.h
@@ -138,10 +138,9 @@ void OptionsParser<Options>::Implies(const char* from,
                                      const char* to) {
   auto it = options_.find(to);
   CHECK_NE(it, options_.end());
-  CHECK_EQ(it->second.type, kBoolean);
-  implications_.emplace(from, Implication {
-    it->second.field, true
-  });
+  CHECK(it->second.type == kBoolean || it->second.type == kV8Option);
+  implications_.emplace(
+      from, Implication{it->second.type, to, it->second.field, true});
 }
 
 template <typename Options>
@@ -150,9 +149,8 @@ void OptionsParser<Options>::ImpliesNot(const char* from,
   auto it = options_.find(to);
   CHECK_NE(it, options_.end());
   CHECK_EQ(it->second.type, kBoolean);
-  implications_.emplace(from, Implication {
-    it->second.field, false
-  });
+  implications_.emplace(
+      from, Implication{it->second.type, to, it->second.field, false});
 }
 
 template <typename Options>
@@ -196,9 +194,11 @@ template <typename ChildOptions>
 auto OptionsParser<Options>::Convert(
     typename OptionsParser<ChildOptions>::Implication original,
     ChildOptions* (Options::* get_child)()) {
-  return Implication {
-    Convert(original.target_field, get_child),
-    original.target_value
+  return Implication{
+      original.type,
+      original.name,
+      Convert(original.target_field, get_child),
+      original.target_value,
   };
 }
 
@@ -366,19 +366,23 @@ void OptionsParser<Options>::Parse(
       break;
     }
 
-    if (it == options_.end()) {
-      v8_args->push_back(arg);
-      continue;
-    }
-
     {
       auto implications = implications_.equal_range(name);
       for (auto it = implications.first; it != implications.second; ++it) {
-        *it->second.target_field->template Lookup<bool>(options) =
-            it->second.target_value;
+        if (it->second.type == kV8Option) {
+          v8_args->push_back(it->second.name);
+        } else {
+          *it->second.target_field->template Lookup<bool>(options) =
+              it->second.target_value;
+        }
       }
     }
 
+    if (it == options_.end()) {
+      v8_args->push_back(arg);
+      continue;
+    }
+
     const OptionInfo& info = it->second;
     std::string value;
     if (info.type != kBoolean && info.type != kNoOp && info.type != kV8Option) {
diff --git a/src/node_options.cc b/src/node_options.cc
index 3b9142c19e98a8..b3e7f403b05854 100644
--- a/src/node_options.cc
+++ b/src/node_options.cc
@@ -593,6 +593,13 @@ PerIsolateOptionsParser::PerIsolateOptionsParser(
             kAllowedInEnvironment);
   Implies("--report-signal", "--report-on-signal");
 
+  AddOption("--experimental-top-level-await",
+            "enable experimental support for ECMAScript Top-Level Await",
+            &PerIsolateOptions::experimental_top_level_await);
+  AddOption("--harmony-top-level-await", "", V8Option{});
+  Implies("--experimental-top-level-await", "--harmony-top-level-await");
+  Implies("--harmony-top-level-await", "--experimental-top-level-await");
+
   Insert(eop, &PerIsolateOptions::get_per_env_options);
 }
 
diff --git a/src/node_options.h b/src/node_options.h
index 539e41e67ac6ee..bbe5617cdc832d 100644
--- a/src/node_options.h
+++ b/src/node_options.h
@@ -186,6 +186,7 @@ class PerIsolateOptions : public Options {
   bool no_node_snapshot = false;
   bool report_uncaught_exception = false;
   bool report_on_signal = false;
+  bool experimental_top_level_await = false;
   std::string report_signal = "SIGUSR2";
   inline EnvironmentOptions* get_per_env_options();
   void CheckOptions(std::vector<std::string>* errors) override;
@@ -418,6 +419,8 @@ class OptionsParser {
   // An implied option is composed of the information on where to store a
   // specific boolean value (if another specific option is encountered).
   struct Implication {
+    OptionType type;
+    std::string name;
     std::shared_ptr<BaseOptionField> target_field;
     bool target_value;
   };
diff --git a/test/es-module/test-esm-tla.mjs b/test/es-module/test-esm-tla.mjs
new file mode 100644
index 00000000000000..816f88dd80a74e
--- /dev/null
+++ b/test/es-module/test-esm-tla.mjs
@@ -0,0 +1,11 @@
+// Flags: --experimental-top-level-await
+
+import '../common/index.mjs';
+import fixtures from '../common/fixtures.js';
+import assert from 'assert';
+import { pathToFileURL } from 'url';
+
+import(pathToFileURL(fixtures.path('/es-modules/tla/parent.mjs')))
+  .then(({ default: order }) => {
+    assert.deepStrictEqual(order, ['order', 'b', 'c', 'd', 'a', 'parent']);
+  });
diff --git a/test/fixtures/es-modules/tla/a.mjs b/test/fixtures/es-modules/tla/a.mjs
new file mode 100644
index 00000000000000..c899a1c658c385
--- /dev/null
+++ b/test/fixtures/es-modules/tla/a.mjs
@@ -0,0 +1,7 @@
+import order from './order.mjs';
+
+await new Promise((resolve) => {
+  setTimeout(resolve, 200);
+});
+
+order.push('a');
diff --git a/test/fixtures/es-modules/tla/b.mjs b/test/fixtures/es-modules/tla/b.mjs
new file mode 100644
index 00000000000000..5149f5fda9361e
--- /dev/null
+++ b/test/fixtures/es-modules/tla/b.mjs
@@ -0,0 +1,3 @@
+import order from './order.mjs';
+
+order.push('b');
diff --git a/test/fixtures/es-modules/tla/c.mjs b/test/fixtures/es-modules/tla/c.mjs
new file mode 100644
index 00000000000000..ab0479f12b8eac
--- /dev/null
+++ b/test/fixtures/es-modules/tla/c.mjs
@@ -0,0 +1,3 @@
+import order from './order.mjs';
+
+order.push('c');
diff --git a/test/fixtures/es-modules/tla/d.mjs b/test/fixtures/es-modules/tla/d.mjs
new file mode 100644
index 00000000000000..4d6e7d496fc88a
--- /dev/null
+++ b/test/fixtures/es-modules/tla/d.mjs
@@ -0,0 +1,6 @@
+import order from './order.mjs';
+
+const end = Date.now() + 500;
+while (end < Date.now()) {}
+
+order.push('d');
diff --git a/test/fixtures/es-modules/tla/order.mjs b/test/fixtures/es-modules/tla/order.mjs
new file mode 100644
index 00000000000000..3258bf986eae36
--- /dev/null
+++ b/test/fixtures/es-modules/tla/order.mjs
@@ -0,0 +1 @@
+export default ['order'];
diff --git a/test/fixtures/es-modules/tla/parent.mjs b/test/fixtures/es-modules/tla/parent.mjs
new file mode 100644
index 00000000000000..ed17e102267696
--- /dev/null
+++ b/test/fixtures/es-modules/tla/parent.mjs
@@ -0,0 +1,9 @@
+import order from './order.mjs';
+import './a.mjs';
+import './b.mjs';
+import './c.mjs';
+import './d.mjs';
+
+order.push('parent');
+
+export default order;
diff --git a/test/parallel/test-cli-eval.js b/test/parallel/test-cli-eval.js
index 65d31642055627..cbe0a09887f8eb 100644
--- a/test/parallel/test-cli-eval.js
+++ b/test/parallel/test-cli-eval.js
@@ -245,9 +245,10 @@ child.exec(
 // Assert that "42\n" is written to stdout with print option.
 child.exec(
   `${nodejs} ${execOptions} --print --eval "42"`,
-  common.mustCall((err, stdout) => {
-    assert.ifError(err);
-    assert.strictEqual(stdout, '42\n');
+  common.mustCall((err, stdout, stderr) => {
+    assert.ok(err);
+    assert.strictEqual(stdout, '');
+    assert.ok(stderr.includes('--print cannot be used with ESM input'));
   }));
 
 // Assert that error is written to stderr on invalid input.
diff --git a/test/parallel/test-internal-module-wrap.js b/test/parallel/test-internal-module-wrap.js
index b0cc3a1cf02d8a..09cccba76de004 100644
--- a/test/parallel/test-internal-module-wrap.js
+++ b/test/parallel/test-internal-module-wrap.js
@@ -10,7 +10,7 @@ const { ModuleWrap } = internalBinding('module_wrap');
 const { getPromiseDetails, isPromise } = internalBinding('util');
 const setTimeoutAsync = require('util').promisify(setTimeout);
 
-const foo = new ModuleWrap('foo', undefined, 'export * from "bar"; 6;', 0, 0);
+const foo = new ModuleWrap('foo', undefined, 'export * from "bar";', 0, 0);
 const bar = new ModuleWrap('bar', undefined, 'export const five = 5', 0, 0);
 
 (async () => {
@@ -24,6 +24,6 @@ const bar = new ModuleWrap('bar', undefined, 'export const five = 5', 0, 0);
 
   foo.instantiate();
 
-  assert.strictEqual(await foo.evaluate(-1, false), 6);
+  assert.strictEqual(await foo.evaluate(-1, false), undefined);
   assert.strictEqual(foo.getNamespace().five, 5);
 })();
diff --git a/test/parallel/test-vm-module-basic.js b/test/parallel/test-vm-module-basic.js
index 26751fd0b58e31..c842ac01fb8d93 100644
--- a/test/parallel/test-vm-module-basic.js
+++ b/test/parallel/test-vm-module-basic.js
@@ -26,26 +26,26 @@ const util = require('util');
   assert.strictEqual(m.status, 'unlinked');
   await m.link(common.mustNotCall());
   assert.strictEqual(m.status, 'linked');
-  const result = await m.evaluate();
+  assert.strictEqual(await m.evaluate(), undefined);
   assert.strictEqual(m.status, 'evaluated');
-  assert.strictEqual(Object.getPrototypeOf(result), null);
   assert.deepStrictEqual(context, {
     foo: 'bar',
     baz: 'bar',
     typeofProcess: 'undefined'
   });
-  assert.strictEqual(result.result, 'function');
 }());
 
 (async () => {
-  const m = new SourceTextModule(
-    'global.vmResult = "foo"; Object.prototype.toString.call(process);'
-  );
+  const m = new SourceTextModule(`
+    global.vmResultFoo = "foo";
+    global.vmResultTypeofProcess = Object.prototype.toString.call(process);
+  `);
   await m.link(common.mustNotCall());
-  const { result } = await m.evaluate();
-  assert.strictEqual(global.vmResult, 'foo');
-  assert.strictEqual(result, '[object process]');
-  delete global.vmResult;
+  await m.evaluate();
+  assert.strictEqual(global.vmResultFoo, 'foo');
+  assert.strictEqual(global.vmResultTypeofProcess, '[object process]');
+  delete global.vmResultFoo;
+  delete global.vmResultTypeofProcess;
 })();
 
 (async () => {
diff --git a/test/parallel/test-vm-module-dynamic-import.js b/test/parallel/test-vm-module-dynamic-import.js
index 70229b3897874b..9d04cf96e6f979 100644
--- a/test/parallel/test-vm-module-dynamic-import.js
+++ b/test/parallel/test-vm-module-dynamic-import.js
@@ -5,19 +5,23 @@
 const common = require('../common');
 
 const assert = require('assert');
-const { Script, SourceTextModule, createContext } = require('vm');
+const { Script, SourceTextModule } = require('vm');
 
 async function testNoCallback() {
-  const m = new SourceTextModule('import("foo")', { context: createContext() });
+  const m = new SourceTextModule(`
+    globalThis.importResult = import("foo");
+    globalThis.importResult.catch(() => {});
+  `);
   await m.link(common.mustNotCall());
-  const { result } = await m.evaluate();
+  await m.evaluate();
   let threw = false;
   try {
-    await result;
+    await globalThis.importResult;
   } catch (err) {
     threw = true;
     assert.strictEqual(err.code, 'ERR_VM_DYNAMIC_IMPORT_CALLBACK_MISSING');
   }
+  delete globalThis.importResult;
   assert(threw);
 }
 
@@ -40,7 +44,7 @@ async function test() {
   }
 
   {
-    const m = new SourceTextModule('import("foo")', {
+    const m = new SourceTextModule('globalThis.fooResult = import("foo")', {
       importModuleDynamically: common.mustCall((specifier, wrap) => {
         assert.strictEqual(specifier, 'foo');
         assert.strictEqual(wrap, m);
@@ -48,24 +52,26 @@ async function test() {
       }),
     });
     await m.link(common.mustNotCall());
-    const { result } = await m.evaluate();
-    assert.strictEqual(foo.namespace, await result);
+    await m.evaluate();
+    assert.strictEqual(foo.namespace, await globalThis.fooResult);
+    delete globalThis.fooResult;
   }
 }
 
 async function testInvalid() {
-  const m = new SourceTextModule('import("foo")', {
+  const m = new SourceTextModule('globalThis.fooResult = import("foo")', {
     importModuleDynamically: common.mustCall((specifier, wrap) => {
       return 5;
     }),
   });
   await m.link(common.mustNotCall());
-  const { result } = await m.evaluate();
-  await result.catch(common.mustCall((e) => {
+  await m.evaluate();
+  await globalThis.fooResult.catch(common.mustCall((e) => {
     assert.strictEqual(e.code, 'ERR_VM_MODULE_NOT_MODULE');
   }));
+  delete globalThis.fooResult;
 
-  const s = new Script('import("foo")', {
+  const s = new Script('import("bar")', {
     importModuleDynamically: common.mustCall((specifier, wrap) => {
       return undefined;
     }),
diff --git a/test/parallel/test-vm-module-dynamic-namespace.js b/test/parallel/test-vm-module-dynamic-namespace.js
index 987b21f2ec1151..84937cd78de4af 100644
--- a/test/parallel/test-vm-module-dynamic-namespace.js
+++ b/test/parallel/test-vm-module-dynamic-namespace.js
@@ -9,22 +9,18 @@ const assert = require('assert');
 const { types } = require('util');
 const { SourceTextModule } = require('vm');
 
-async function getNamespace() {
-  const m = new SourceTextModule('');
-  await m.link(() => 0);
-  await m.evaluate();
-  return m.namespace;
-}
-
 (async () => {
-  const namespace = await getNamespace();
-  const m = new SourceTextModule('export const A = "A"; import("");', {
-    importModuleDynamically: common.mustCall((specifier, wrap) => {
-      return namespace;
-    })
+  const m = new SourceTextModule('globalThis.importResult = import("");', {
+    importModuleDynamically: common.mustCall(async (specifier, wrap) => {
+      const m = new SourceTextModule('');
+      await m.link(() => 0);
+      await m.evaluate();
+      return m.namespace;
+    }),
   });
   await m.link(() => 0);
-  const { result } = await m.evaluate();
-  const ns = await result;
+  await m.evaluate();
+  const ns = await globalThis.importResult;
+  delete globalThis.importResult;
   assert.ok(types.isModuleNamespaceObject(ns));
 })().then(common.mustCall());
diff --git a/test/parallel/test-vm-module-errors.js b/test/parallel/test-vm-module-errors.js
index d14296b1e9ebde..fee243f101113b 100644
--- a/test/parallel/test-vm-module-errors.js
+++ b/test/parallel/test-vm-module-errors.js
@@ -182,13 +182,11 @@ async function checkExecution() {
   await (async () => {
     const m = new SourceTextModule('throw new Error();');
     await m.link(common.mustNotCall());
-    const evaluatePromise = m.evaluate();
-    await evaluatePromise.catch(() => {});
-    assert.strictEqual(m.status, 'errored');
     try {
-      await evaluatePromise;
+      await m.evaluate();
     } catch (err) {
       assert.strictEqual(m.error, err);
+      assert.strictEqual(m.status, 'errored');
       return;
     }
     assert.fail('Missing expected exception');
diff --git a/test/parallel/test-vm-module-import-meta.js b/test/parallel/test-vm-module-import-meta.js
index 0f86f2fa646914..baf6c5b37d1b3b 100644
--- a/test/parallel/test-vm-module-import-meta.js
+++ b/test/parallel/test-vm-module-import-meta.js
@@ -7,14 +7,16 @@ const assert = require('assert');
 const { SourceTextModule } = require('vm');
 
 async function testBasic() {
-  const m = new SourceTextModule('import.meta;', {
+  const m = new SourceTextModule('globalThis.importMeta = import.meta;', {
     initializeImportMeta: common.mustCall((meta, module) => {
       assert.strictEqual(module, m);
       meta.prop = 42;
     })
   });
   await m.link(common.mustNotCall());
-  const { result } = await m.evaluate();
+  await m.evaluate();
+  const result = globalThis.importMeta;
+  delete globalThis.importMeta;
   assert.strictEqual(typeof result, 'object');
   assert.strictEqual(Object.getPrototypeOf(result), null);
   assert.strictEqual(result.prop, 42);
diff --git a/test/parallel/test-vm-module-link.js b/test/parallel/test-vm-module-link.js
index 56443e3e1a73bc..48f06439b6dacf 100644
--- a/test/parallel/test-vm-module-link.js
+++ b/test/parallel/test-vm-module-link.js
@@ -13,7 +13,8 @@ async function simple() {
   const foo = new SourceTextModule('export default 5;');
   await foo.link(common.mustNotCall());
 
-  const bar = new SourceTextModule('import five from "foo"; five');
+  globalThis.fiveResult = undefined;
+  const bar = new SourceTextModule('import five from "foo"; fiveResult = five');
 
   assert.deepStrictEqual(bar.dependencySpecifiers, ['foo']);
 
@@ -23,7 +24,9 @@ async function simple() {
     return foo;
   }));
 
-  assert.strictEqual((await bar.evaluate()).result, 5);
+  await bar.evaluate();
+  assert.strictEqual(globalThis.fiveResult, 5);
+  delete globalThis.fiveResult;
 }
 
 async function depth() {
diff --git a/test/parallel/test-vm-module-reevaluate.js b/test/parallel/test-vm-module-reevaluate.js
index 4767541dd24c37..6208f140ffab88 100644
--- a/test/parallel/test-vm-module-reevaluate.js
+++ b/test/parallel/test-vm-module-reevaluate.js
@@ -12,11 +12,16 @@ const finished = common.mustCall();
 
 (async function main() {
   {
-    const m = new SourceTextModule('1');
+    globalThis.count = 0;
+    const m = new SourceTextModule('count += 1;');
     await m.link(common.mustNotCall());
-    assert.strictEqual((await m.evaluate()).result, 1);
-    assert.strictEqual((await m.evaluate()).result, undefined);
-    assert.strictEqual((await m.evaluate()).result, undefined);
+    assert.strictEqual(await m.evaluate(), undefined);
+    assert.strictEqual(globalThis.count, 1);
+    assert.strictEqual(await m.evaluate(), undefined);
+    assert.strictEqual(globalThis.count, 1);
+    assert.strictEqual(await m.evaluate(), undefined);
+    assert.strictEqual(globalThis.count, 1);
+    delete globalThis.count;
   }
 
   {
diff --git a/test/parallel/test-vm-module-synthetic.js b/test/parallel/test-vm-module-synthetic.js
index 83a78f2f3f5ba2..a3ca6630f7eab4 100644
--- a/test/parallel/test-vm-module-synthetic.js
+++ b/test/parallel/test-vm-module-synthetic.js
@@ -2,7 +2,7 @@
 
 // Flags: --experimental-vm-modules
 
-require('../common');
+const common = require('../common');
 const { SyntheticModule, SourceTextModule } = require('vm');
 const assert = require('assert');
 
@@ -26,6 +26,17 @@ const assert = require('assert');
     assert.strictEqual(m.namespace.getX(), 42);
   }
 
+  {
+    const s = new SyntheticModule([], () => {
+      const p = Promise.reject();
+      p.catch(() => {});
+      return p;
+    });
+
+    await s.link(common.mustNotCall());
+    assert.strictEqual(await s.evaluate(), undefined);
+  }
+
   for (const invalidName of [1, Symbol.iterator, {}, [], null, true, 0]) {
     const s = new SyntheticModule([], () => {});
     await s.link(() => {});