diff --git a/lib/pointer.ts b/lib/pointer.ts
index b2a1e0d2..a7b3105e 100644
--- a/lib/pointer.ts
+++ b/lib/pointer.ts
@@ -83,12 +83,12 @@ class Pointer {
     this.value = unwrapOrThrow(obj);
 
     for (let i = 0; i < tokens.length; i++) {
-      if (resolveIf$Ref(this, options)) {
+      if (resolveIf$Ref(this, options, pathFromRoot)) {
         // The $ref path has changed, so append the remaining tokens to the path
         this.path = Pointer.join(this.path, tokens.slice(i));
       }
 
-      if (typeof this.value === "object" && this.value !== null && "$ref" in this.value) {
+      if (typeof this.value === "object" && this.value !== null && !isRootPath(pathFromRoot) && "$ref" in this.value) {
         return this;
       }
 
@@ -103,7 +103,7 @@ class Pointer {
 
     // Resolve the final value
     if (!this.value || (this.value.$ref && url.resolve(this.path, this.value.$ref) !== pathFromRoot)) {
-      resolveIf$Ref(this, options);
+      resolveIf$Ref(this, options, pathFromRoot);
     }
 
     return this;
@@ -224,15 +224,16 @@ class Pointer {
  *
  * @param pointer
  * @param options
+ * @param [pathFromRoot] - the path of place that initiated resolving
  * @returns - Returns `true` if the resolution path changed
  */
-function resolveIf$Ref(pointer: any, options: any) {
+function resolveIf$Ref(pointer: any, options: any, pathFromRoot?: any) {
   // Is the value a JSON reference? (and allowed?)
 
   if ($Ref.isAllowed$Ref(pointer.value, options)) {
     const $refPath = url.resolve(pointer.path, pointer.value.$ref);
 
-    if ($refPath === pointer.path) {
+    if ($refPath === pointer.path && !isRootPath(pathFromRoot)) {
       // The value is a reference to itself, so there's nothing to do.
       pointer.circular = true;
     } else {
@@ -294,3 +295,7 @@ function unwrapOrThrow(value: any) {
 
   return value;
 }
+
+function isRootPath(pathFromRoot: any): boolean {
+  return typeof pathFromRoot == "string" && Pointer.parse(pathFromRoot).length == 0;
+}
diff --git a/test/specs/internal-root-ref/bundled.ts b/test/specs/internal-root-ref/bundled.ts
new file mode 100644
index 00000000..6e9ff7dc
--- /dev/null
+++ b/test/specs/internal-root-ref/bundled.ts
@@ -0,0 +1,14 @@
+export default {
+  $ref: "#/definitions/user",
+  definitions: {
+    user: {
+      properties: {
+        userId: {
+          type: "integer",
+        },
+      },
+      required: ["userId"],
+      type: "object",
+    },
+  },
+};
diff --git a/test/specs/internal-root-ref/dereferenced.ts b/test/specs/internal-root-ref/dereferenced.ts
new file mode 100644
index 00000000..f8792463
--- /dev/null
+++ b/test/specs/internal-root-ref/dereferenced.ts
@@ -0,0 +1,20 @@
+export default {
+  definitions: {
+    user: {
+      type: "object",
+      properties: {
+        userId: {
+          type: "integer",
+        },
+      },
+      required: ["userId"],
+    },
+  },
+  type: "object",
+  properties: {
+    userId: {
+      type: "integer",
+    },
+  },
+  required: ["userId"],
+};
diff --git a/test/specs/internal-root-ref/internal-root-ref.spec.ts b/test/specs/internal-root-ref/internal-root-ref.spec.ts
new file mode 100644
index 00000000..e7897074
--- /dev/null
+++ b/test/specs/internal-root-ref/internal-root-ref.spec.ts
@@ -0,0 +1,46 @@
+import { describe, it } from "vitest";
+import $RefParser from "../../../lib/index.js";
+import helper from "../../utils/helper.js";
+import path from "../../utils/path.js";
+import parsedSchema from "./parsed.js";
+import dereferencedSchema from "./dereferenced.js";
+import bundledSchema from "./bundled.js";
+
+import { expect } from "vitest";
+
+describe("Schema with $ref at root level", () => {
+  it("should parse successfully", async () => {
+    const parser = new $RefParser();
+    const schema = await parser.parse(path.rel("test/specs/internal-root-ref/internal-root-ref.yaml"));
+    expect(schema).to.equal(parser.schema);
+    expect(schema).to.deep.equal(parsedSchema);
+    expect(parser.$refs.paths()).to.deep.equal([path.abs("test/specs/internal-root-ref/internal-root-ref.yaml")]);
+  });
+
+  it(
+    "should resolve successfully",
+    helper.testResolve(
+      path.rel("test/specs/internal-root-ref/internal-root-ref.yaml"),
+      path.abs("test/specs/internal-root-ref/internal-root-ref.yaml"),
+      parsedSchema,
+    ),
+  );
+
+  it("should dereference successfully", async () => {
+    const parser = new $RefParser();
+    const schema = await parser.dereference(path.rel("test/specs/internal-root-ref/internal-root-ref.yaml"));
+    expect(schema).to.equal(parser.schema);
+    expect(schema).to.deep.equal(dereferencedSchema);
+    // Reference equality
+    // @ts-expect-error TS(2532): Object is possibly 'undefined'.
+    expect(schema.properties.userId).to.equal(schema.definitions.user.properties.userId);
+    expect(parser.$refs.circular).to.equal(false);
+  });
+
+  it("should bundle successfully", async () => {
+    const parser = new $RefParser();
+    const schema = await parser.bundle(path.rel("test/specs/internal-root-ref/internal-root-ref.yaml"));
+    expect(schema).to.equal(parser.schema);
+    expect(schema).to.deep.equal(bundledSchema);
+  });
+});
diff --git a/test/specs/internal-root-ref/internal-root-ref.yaml b/test/specs/internal-root-ref/internal-root-ref.yaml
new file mode 100644
index 00000000..3b41be66
--- /dev/null
+++ b/test/specs/internal-root-ref/internal-root-ref.yaml
@@ -0,0 +1,9 @@
+$ref: "#/definitions/user"
+definitions:
+  user:
+    type: object
+    properties:
+      userId:
+        type: integer
+    required:
+      - userId
diff --git a/test/specs/internal-root-ref/parsed.ts b/test/specs/internal-root-ref/parsed.ts
new file mode 100644
index 00000000..6e9ff7dc
--- /dev/null
+++ b/test/specs/internal-root-ref/parsed.ts
@@ -0,0 +1,14 @@
+export default {
+  $ref: "#/definitions/user",
+  definitions: {
+    user: {
+      properties: {
+        userId: {
+          type: "integer",
+        },
+      },
+      required: ["userId"],
+      type: "object",
+    },
+  },
+};