diff --git a/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.rule.ts b/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.rule.ts
index ab675965e9..9cdbcd91b4 100644
--- a/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.rule.ts
+++ b/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.rule.ts
@@ -79,10 +79,20 @@ export const rule = createRule({
 
         const sourceCode = context.getSourceCode()
         const queryKeyValue = queryKeyNode
+        const reactComponent = ASTUtils.getReactComponentOrHookAncestor(context)
         const refs = ASTUtils.getExternalRefs({
           scopeManager,
           sourceCode,
           node: queryFn.value,
+        }).filter((ref) => {
+          return (
+            reactComponent === undefined ||
+            ASTUtils.isDeclaredInNode({
+              scopeManager,
+              functionNode: reactComponent,
+              reference: ref,
+            })
+          )
         })
 
         const relevantRefs = refs.filter((ref) => {
diff --git a/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.test.ts b/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.test.ts
index 642e096313..457a8f3223 100644
--- a/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.test.ts
+++ b/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.test.ts
@@ -260,6 +260,30 @@ ruleTester.run('exhaustive-deps', rule, {
         });
       `,
     },
+    {
+      name: 'should ignore constants defined out of scope (react component)',
+      code: `
+        const CONST_VAL = 1
+        function MyComponent() {
+          useQuery({
+            queryKey: ["foo"],
+            queryFn: () => CONST_VAL
+          });
+        }
+      `,
+    },
+    {
+      name: 'should ignore constants defined out of scope (react hook)',
+      code: `
+        const CONST_VAL = 1
+        function useHook() {
+          useQuery({
+            queryKey: ["foo"],
+            queryFn: () => CONST_VAL
+          });
+        }
+      `,
+    },
   ],
   invalid: [
     {
diff --git a/packages/eslint-plugin-query/src/utils/ast-utils.ts b/packages/eslint-plugin-query/src/utils/ast-utils.ts
index 95e5577e9e..6b30097da7 100644
--- a/packages/eslint-plugin-query/src/utils/ast-utils.ts
+++ b/packages/eslint-plugin-query/src/utils/ast-utils.ts
@@ -1,4 +1,5 @@
 import type { TSESLint, TSESTree } from '@typescript-eslint/utils'
+import type TSESLintScopeManager from '@typescript-eslint/scope-manager'
 import { AST_NODE_TYPES } from '@typescript-eslint/utils'
 import type { RuleContext } from '@typescript-eslint/utils/dist/ts-eslint'
 import { uniqueBy } from './unique-by'
@@ -140,6 +141,20 @@ export const ASTUtils = {
 
     return identifier
   },
+  isDeclaredInNode(params: {
+    functionNode: TSESTree.Node
+    reference: TSESLintScopeManager.Reference
+    scopeManager: TSESLint.Scope.ScopeManager
+  }) {
+    const { functionNode, reference, scopeManager } = params
+    const scope = scopeManager.acquire(functionNode)
+
+    if (scope === null) {
+      return false
+    }
+
+    return scope.set.has(reference.identifier.name)
+  },
   getExternalRefs(params: {
     scopeManager: TSESLint.Scope.ScopeManager
     sourceCode: Readonly<TSESLint.SourceCode>
@@ -188,6 +203,25 @@ export const ASTUtils = {
       ]),
     )
   },
+  getReactComponentOrHookAncestor(
+    context: Readonly<RuleContext<string, readonly unknown[]>>,
+  ) {
+    return context.getAncestors().find((x) => {
+      return (
+        ASTUtils.isNodeOfOneOf(x, [
+          AST_NODE_TYPES.FunctionDeclaration,
+          AST_NODE_TYPES.FunctionExpression,
+          AST_NODE_TYPES.ArrowFunctionExpression,
+        ]) &&
+        x.id !== null &&
+        /^(use|[A-Z])/.test(x.id.name)
+      )
+    }) as
+      | TSESTree.FunctionDeclaration
+      | TSESTree.FunctionExpression
+      | TSESTree.ArrowFunctionExpression
+      | undefined
+  },
   getReferencedExpressionByIdentifier(params: {
     node: TSESTree.Node
     context: Readonly<RuleContext<string, readonly unknown[]>>