diff --git a/.changeset/cold-falcons-warn.md b/.changeset/cold-falcons-warn.md
new file mode 100644
index 0000000000..fa005725e1
--- /dev/null
+++ b/.changeset/cold-falcons-warn.md
@@ -0,0 +1,5 @@
+---
+'@tanstack/eslint-plugin-query': patch
+---
+
+fix: exhaustive-deps with variables and type assertions
diff --git a/packages/eslint-plugin-query/src/__tests__/exhaustive-deps.test.ts b/packages/eslint-plugin-query/src/__tests__/exhaustive-deps.test.ts
index e3ea5790dd..f27b058ec5 100644
--- a/packages/eslint-plugin-query/src/__tests__/exhaustive-deps.test.ts
+++ b/packages/eslint-plugin-query/src/__tests__/exhaustive-deps.test.ts
@@ -226,6 +226,39 @@ ruleTester.run('exhaustive-deps', rule, {
           })
       `,
     },
+    {
+      name: 'should pass with queryKeyFactory result assigned to a variable',
+      code: `
+        function fooQueryKeyFactory(dep: string) {
+            return ["foo", dep];
+        }
+
+        const useFoo = (dep: string) => {
+          const queryKey = fooQueryKeyFactory(dep);
+          return useQuery({
+              queryKey,
+              queryFn: () => Promise.resolve(dep),
+            })
+          }
+      `,
+    },
+    {
+      name: 'should pass with queryKeyFactory result assigned to a variable 2',
+      code: `
+        function fooQueryKeyFactory(dep: string) {
+            const x = ["foo", dep] as const;
+            return x as const;
+        }
+
+        const useFoo = (dep: string) => {
+          const queryKey = fooQueryKeyFactory(dep);
+          return useQuery({
+              queryKey,
+              queryFn: () => Promise.resolve(dep),
+            })
+          }
+      `,
+    },
     {
       name: 'should not treat new Error as missing dependency',
       code: normalizeIndent`
@@ -246,6 +279,30 @@ ruleTester.run('exhaustive-deps', rule, {
         }
       `,
     },
+    {
+      name: 'should see id when there is a const assertion of a variable dereference',
+      code: normalizeIndent`
+        const useX = (id: number) => {
+          const queryKey = ['foo', id]
+          return useQuery({
+            queryKey: queryKey as const,
+            queryFn: async () => id,
+          })
+        }
+      `,
+    },
+    {
+      name: 'should see id when there is a const assertion assigned to a variable',
+      code: normalizeIndent`
+        const useX = (id: number) => {
+          const queryKey = ['foo', id] as const
+          return useQuery({
+            queryKey,
+            queryFn: async () => id,
+          })
+        }
+      `,
+    },
     {
       name: 'should not fail if queryKey is having the whole object while queryFn uses some props of it',
       code: normalizeIndent`
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 bb87b04552..15c0918e97 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
@@ -65,25 +65,10 @@ export const rule = createRule({
           return
         }
 
-        let queryKeyNode = queryKey.value
-
-        if (
-          queryKeyNode.type === AST_NODE_TYPES.TSAsExpression &&
-          queryKeyNode.expression.type === AST_NODE_TYPES.ArrayExpression
-        ) {
-          queryKeyNode = queryKeyNode.expression
-        }
-
-        if (queryKeyNode.type === AST_NODE_TYPES.Identifier) {
-          const expression = ASTUtils.getReferencedExpressionByIdentifier({
-            context,
-            node: queryKeyNode,
-          })
-
-          if (expression?.type === AST_NODE_TYPES.ArrayExpression) {
-            queryKeyNode = expression
-          }
-        }
+        const queryKeyNode = dereferenceVariablesAndTypeAssertions(
+          queryKey.value,
+          context,
+        )
 
         const externalRefs = ASTUtils.getExternalRefs({
           scopeManager,
@@ -182,3 +167,38 @@ function getQueryFnRelevantNode(queryFn: TSESTree.Property) {
 
   return queryFn.value.consequent
 }
+
+function dereferenceVariablesAndTypeAssertions(
+  queryKeyNode: TSESTree.Node,
+  context: Readonly<TSESLint.RuleContext<string, ReadonlyArray<unknown>>>,
+) {
+  const visitedNodes = new Set<TSESTree.Node>()
+
+  for (let i = 0; i < 1 << 8; ++i) {
+    if (visitedNodes.has(queryKeyNode)) {
+      return queryKeyNode
+    }
+    visitedNodes.add(queryKeyNode)
+
+    switch (queryKeyNode.type) {
+      case AST_NODE_TYPES.TSAsExpression:
+        queryKeyNode = queryKeyNode.expression
+        break
+      case AST_NODE_TYPES.Identifier: {
+        const expression = ASTUtils.getReferencedExpressionByIdentifier({
+          context,
+          node: queryKeyNode,
+        })
+
+        if (expression == null) {
+          return queryKeyNode
+        }
+        queryKeyNode = expression
+        break
+      }
+      default:
+        return queryKeyNode
+    }
+  }
+  return queryKeyNode
+}