diff --git a/src/OpenApi/src/Extensions/JsonNodeSchemaExtensions.cs b/src/OpenApi/src/Extensions/JsonNodeSchemaExtensions.cs
index 945326b1d5b1..c1036ffad128 100644
--- a/src/OpenApi/src/Extensions/JsonNodeSchemaExtensions.cs
+++ b/src/OpenApi/src/Extensions/JsonNodeSchemaExtensions.cs
@@ -3,6 +3,7 @@
 
 using System.ComponentModel;
 using System.ComponentModel.DataAnnotations;
+using System.Diagnostics.CodeAnalysis;
 using System.Globalization;
 using System.Linq;
 using System.Reflection;
@@ -175,13 +176,17 @@ internal static void ApplyDefaultValue(this JsonNode schema, object? defaultValu
             return;
         }
 
+        var schemaAttribute = schema.WillBeComponentized()
+            ? OpenApiConstants.RefDefaultAnnotation
+            : OpenApiSchemaKeywords.DefaultKeyword;
+
         if (defaultValue is null)
         {
-            schema[OpenApiSchemaKeywords.DefaultKeyword] = null;
+            schema[schemaAttribute] = null;
         }
         else
         {
-            schema[OpenApiSchemaKeywords.DefaultKeyword] = JsonSerializer.SerializeToNode(defaultValue, jsonTypeInfo);
+            schema[schemaAttribute] = JsonSerializer.SerializeToNode(defaultValue, jsonTypeInfo);
         }
     }
 
@@ -429,6 +434,33 @@ internal static void ApplySchemaReferenceId(this JsonNode schema, JsonSchemaExpo
         }
     }
 
+    /// <summary>
+    /// Determines whether the specified JSON schema will be moved into the components section.
+    /// </summary>
+    /// <param name="schema">The <see cref="JsonNode"/> produced by the underlying schema generator.</param>
+    /// <returns><see langword="true"/> if the schema will be componentized; otherwise, <see langword="false"/>.</returns>
+    internal static bool WillBeComponentized(this JsonNode schema)
+        => schema.WillBeComponentized(out _);
+
+    /// <summary>
+    /// Determines whether the specified JSON schema node contains a componentized schema identifier.
+    /// </summary>
+    /// <param name="schema">The JSON schema node to inspect for a componentized schema identifier.</param>
+    /// <param name="schemaId">When this method returns <see langword="true"/>, contains the schema identifier found in the node; otherwise,
+    /// <see langword="null"/>.</param>
+    /// <returns><see langword="true"/> if the schema will be componentized; otherwise, <see langword="false"/>.</returns>
+    internal static bool WillBeComponentized(this JsonNode schema, [NotNullWhen(true)] out string? schemaId)
+    {
+        if (schema[OpenApiConstants.SchemaId] is JsonNode schemaIdNode
+            && schemaIdNode.GetValueKind() == JsonValueKind.String)
+        {
+            schemaId = schemaIdNode.GetValue<string>();
+            return true;
+        }
+        schemaId = null;
+        return false;
+    }
+
     /// <summary>
     /// Returns <langword ref="true" /> if the current type is a non-abstract base class that is not defined as its
     /// own derived type.
@@ -458,7 +490,7 @@ internal static void ApplyNullabilityContextInfo(this JsonNode schema, JsonPrope
                 schema[OpenApiSchemaKeywords.TypeKeyword] = (schemaTypes | JsonSchemaType.Null).ToString();
             }
         }
-        if (schema[OpenApiConstants.SchemaId] is not null &&
+        if (schema.WillBeComponentized() &&
             propertyInfo.PropertyType != typeof(object) && propertyInfo.ShouldApplyNullablePropertySchema())
         {
             schema[OpenApiConstants.NullableProperty] = true;
@@ -472,7 +504,7 @@ internal static void ApplyNullabilityContextInfo(this JsonNode schema, JsonPrope
     /// <param name="schema">The <see cref="JsonNode"/> produced by the underlying schema generator.</param>
     internal static void PruneNullTypeForComponentizedTypes(this JsonNode schema)
     {
-        if (schema[OpenApiConstants.SchemaId] is not null &&
+        if (schema.WillBeComponentized() &&
                 schema[OpenApiSchemaKeywords.TypeKeyword] is JsonArray typeArray)
         {
             for (var i = typeArray.Count - 1; i >= 0; i--)
diff --git a/src/OpenApi/src/Extensions/OpenApiDocumentExtensions.cs b/src/OpenApi/src/Extensions/OpenApiDocumentExtensions.cs
index c09bd50dc67b..9a73be8e64fb 100644
--- a/src/OpenApi/src/Extensions/OpenApiDocumentExtensions.cs
+++ b/src/OpenApi/src/Extensions/OpenApiDocumentExtensions.cs
@@ -17,25 +17,27 @@ internal static class OpenApiDocumentExtensions
     /// <returns>An <see cref="IOpenApiSchema"/> with a reference to the stored schema.</returns>
     public static IOpenApiSchema AddOpenApiSchemaByReference(this OpenApiDocument document, string schemaId, IOpenApiSchema schema)
     {
-        document.Components ??= new();
-        document.Components.Schemas ??= new Dictionary<string, IOpenApiSchema>();
-        document.Components.Schemas[schemaId] = schema;
+        // Make sure the document has a workspace,
+        // AddComponent will add it to the workspace when adding the component.
         document.Workspace ??= new();
-        var location = document.BaseUri + "/components/schemas/" + schemaId;
-        document.Workspace.RegisterComponentForDocument(document, schema, location);
+        // AddComponent will only add the schema if it doesn't already exist.
+        document.AddComponent(schemaId, schema);
 
         object? description = null;
         object? example = null;
+        object? defaultAnnotation = null;
         if (schema is OpenApiSchema actualSchema)
         {
             actualSchema.Metadata?.TryGetValue(OpenApiConstants.RefDescriptionAnnotation, out description);
             actualSchema.Metadata?.TryGetValue(OpenApiConstants.RefExampleAnnotation, out example);
+            actualSchema.Metadata?.TryGetValue(OpenApiConstants.RefDefaultAnnotation, out defaultAnnotation);
         }
 
         return new OpenApiSchemaReference(schemaId, document)
         {
             Description = description as string,
             Examples = example is JsonNode exampleJson ? [exampleJson] : null,
+            Default = defaultAnnotation as JsonNode,
         };
     }
 }
diff --git a/src/OpenApi/src/Extensions/OpenApiSchemaExtensions.cs b/src/OpenApi/src/Extensions/OpenApiSchemaExtensions.cs
index f394445850fe..4864a835f4a8 100644
--- a/src/OpenApi/src/Extensions/OpenApiSchemaExtensions.cs
+++ b/src/OpenApi/src/Extensions/OpenApiSchemaExtensions.cs
@@ -1,6 +1,8 @@
 // Licensed to the .NET Foundation under one or more agreements.
 // The .NET Foundation licenses this file to you under the MIT license.
 
+using System.Text.Json.Nodes;
+
 namespace Microsoft.AspNetCore.OpenApi;
 
 internal static class OpenApiSchemaExtensions
@@ -18,4 +20,42 @@ public static IOpenApiSchema CreateOneOfNullableWrapper(this IOpenApiSchema orig
             ]
         };
     }
+
+    public static bool IsComponentizedSchema(this OpenApiSchema schema)
+        => schema.IsComponentizedSchema(out _);
+
+    public static bool IsComponentizedSchema(this OpenApiSchema schema, out string schemaId)
+    {
+        if(schema.Metadata is not null
+            && schema.Metadata.TryGetValue(OpenApiConstants.SchemaId, out var schemaIdAsObject)
+            && schemaIdAsObject is string schemaIdString)
+        {
+            schemaId = schemaIdString;
+            return true;
+        }
+        schemaId = string.Empty;
+        return false;
+    }
+
+    public static OpenApiSchemaReference CreateReference(this OpenApiSchema schema, OpenApiDocument document)
+    {
+        if (!schema.IsComponentizedSchema(out var schemaId))
+        {
+            throw new InvalidOperationException("Schema is not a componentized schema.");
+        }
+
+        object? description = null;
+        object? example = null;
+        object? defaultAnnotation = null;
+        schema.Metadata?.TryGetValue(OpenApiConstants.RefDescriptionAnnotation, out description);
+        schema.Metadata?.TryGetValue(OpenApiConstants.RefExampleAnnotation, out example);
+        schema.Metadata?.TryGetValue(OpenApiConstants.RefDefaultAnnotation, out defaultAnnotation);
+
+        return new OpenApiSchemaReference(schemaId, document)
+        {
+            Description = description as string,
+            Examples = example is JsonNode exampleJson ? [exampleJson] : null,
+            Default = defaultAnnotation as JsonNode,
+        };
+    }
 }
diff --git a/src/OpenApi/src/Schemas/OpenApiJsonSchema.Helpers.cs b/src/OpenApi/src/Schemas/OpenApiJsonSchema.Helpers.cs
index 877ac70010db..4ba02d1a3eb5 100644
--- a/src/OpenApi/src/Schemas/OpenApiJsonSchema.Helpers.cs
+++ b/src/OpenApi/src/Schemas/OpenApiJsonSchema.Helpers.cs
@@ -355,7 +355,11 @@ public static void ReadProperty(ref Utf8JsonReader reader, string propertyName,
                 schema.Metadata ??= new Dictionary<string, object>();
                 schema.Metadata[OpenApiConstants.RefDescriptionAnnotation] = reader.GetString() ?? string.Empty;
                 break;
-
+            case OpenApiConstants.RefDefaultAnnotation:
+                reader.Read();
+                schema.Metadata ??= new Dictionary<string, object>();
+                schema.Metadata[OpenApiConstants.RefDefaultAnnotation] = ReadJsonNode(ref reader)!;
+                break;
             default:
                 reader.Skip();
                 break;
diff --git a/src/OpenApi/src/Services/OpenApiConstants.cs b/src/OpenApi/src/Services/OpenApiConstants.cs
index df4228633556..433e71573eb9 100644
--- a/src/OpenApi/src/Services/OpenApiConstants.cs
+++ b/src/OpenApi/src/Services/OpenApiConstants.cs
@@ -13,6 +13,7 @@ internal static class OpenApiConstants
     internal const string DescriptionId = "x-aspnetcore-id";
     internal const string SchemaId = "x-schema-id";
     internal const string RefId = "x-ref-id";
+    internal const string RefDefaultAnnotation = "x-ref-default";
     internal const string RefDescriptionAnnotation = "x-ref-description";
     internal const string RefExampleAnnotation = "x-ref-example";
     internal const string RefKeyword = "$ref";
diff --git a/src/OpenApi/src/Services/Schemas/OpenApiSchemaService.cs b/src/OpenApi/src/Services/Schemas/OpenApiSchemaService.cs
index 44bf7dbd3da5..fe63cba3767a 100644
--- a/src/OpenApi/src/Services/Schemas/OpenApiSchemaService.cs
+++ b/src/OpenApi/src/Services/Schemas/OpenApiSchemaService.cs
@@ -116,7 +116,7 @@ internal sealed class OpenApiSchemaService(
                 {
                     schema.ApplyDefaultValue(defaultValueAttribute.Value, context.TypeInfo);
                 }
-                var isInlinedSchema = schema[OpenApiConstants.SchemaId] is null;
+                var isInlinedSchema = !schema.WillBeComponentized();
                 if (isInlinedSchema)
                 {
                     if (propertyAttributes.OfType<DescriptionAttribute>().LastOrDefault() is { } descriptionAttribute)
@@ -265,15 +265,26 @@ internal static IOpenApiSchema ResolveReferenceForSchema(OpenApiDocument documen
     {
         var schema = UnwrapOpenApiSchema(inputSchema);
 
-        if (schema.Metadata is not null &&
-            schema.Metadata.TryGetValue(OpenApiConstants.SchemaId, out var resolvedBaseSchemaId))
+        var isComponentizedSchema = schema.IsComponentizedSchema(out var schemaId);
+
+        // When we register it, this will be the resulting reference
+        IOpenApiSchema? resultSchemaReference = null;
+        if (inputSchema is OpenApiSchema && isComponentizedSchema)
         {
-            if (schema.AnyOf is { Count: > 0 })
+            var targetReferenceId = baseSchemaId is not null
+                ? $"{baseSchemaId}{schemaId}"
+                : schemaId;
+            if (!string.IsNullOrEmpty(targetReferenceId))
             {
-                for (var i = 0; i < schema.AnyOf.Count; i++)
-                {
-                    schema.AnyOf[i] = ResolveReferenceForSchema(document, schema.AnyOf[i], rootSchemaId, resolvedBaseSchemaId?.ToString());
-                }
+                resultSchemaReference = document.AddOpenApiSchemaByReference(targetReferenceId, schema);
+            }
+        }
+
+        if (schema.AnyOf is { Count: > 0 })
+        {
+            for (var i = 0; i < schema.AnyOf.Count; i++)
+            {
+                schema.AnyOf[i] = ResolveReferenceForSchema(document, schema.AnyOf[i], rootSchemaId, schemaId);
             }
         }
 
@@ -326,39 +337,9 @@ internal static IOpenApiSchema ResolveReferenceForSchema(OpenApiDocument documen
             schema.Not = ResolveReferenceForSchema(document, schema.Not, rootSchemaId);
         }
 
-        // Handle schemas where the references have been inlined by the JsonSchemaExporter. In this case,
-        // the `#` ID is generated by the exporter since it has no base document to baseline against. In this
-        // case we we want to replace the reference ID with the schema ID that was generated by the
-        // `CreateSchemaReferenceId` method in the OpenApiSchemaService.
-        if (schema.Metadata is not null &&
-            schema.Metadata.TryGetValue(OpenApiConstants.RefId, out var refId) &&
-            refId is string refIdString)
+        if (resultSchemaReference is not null)
         {
-            if (schema.Metadata.TryGetValue(OpenApiConstants.SchemaId, out var schemaId) &&
-                schemaId is string schemaIdString)
-            {
-                return new OpenApiSchemaReference(schemaIdString, document);
-            }
-            var relativeSchemaId = $"#/components/schemas/{rootSchemaId}{refIdString.Replace("#", string.Empty)}";
-            return new OpenApiSchemaReference(relativeSchemaId, document);
-        }
-
-        // If we're resolving schemas for a top-level schema being referenced in the `components.schema` property
-        // we don't want to replace the top-level inline schema with a reference to itself. We want to replace
-        // inline schemas to reference schemas for all schemas referenced in the top-level schema though (such as
-        // `allOf`, `oneOf`, `anyOf`, `items`, `properties`, etc.) which is why `isTopLevel` is only set once.
-        if (schema is OpenApiSchema && schema.Metadata is not null &&
-            !schema.Metadata.ContainsKey(OpenApiConstants.RefId) &&
-            schema.Metadata.TryGetValue(OpenApiConstants.SchemaId, out var referenceId) &&
-            referenceId is string referenceIdString)
-        {
-            var targetReferenceId = baseSchemaId is not null
-                ? $"{baseSchemaId}{referenceIdString}"
-                : referenceIdString;
-            if (!string.IsNullOrEmpty(targetReferenceId))
-            {
-                return document.AddOpenApiSchemaByReference(targetReferenceId, schema);
-            }
+            return resultSchemaReference;
         }
 
         return schema;
diff --git a/src/OpenApi/test/Microsoft.AspNetCore.OpenApi.Tests/Services/OpenApiSchemaService/OpenApiSchemaService.RequestBodySchemas.cs b/src/OpenApi/test/Microsoft.AspNetCore.OpenApi.Tests/Services/OpenApiSchemaService/OpenApiSchemaService.RequestBodySchemas.cs
index 2c368e559c49..99ffe0ca3ddd 100644
--- a/src/OpenApi/test/Microsoft.AspNetCore.OpenApi.Tests/Services/OpenApiSchemaService/OpenApiSchemaService.RequestBodySchemas.cs
+++ b/src/OpenApi/test/Microsoft.AspNetCore.OpenApi.Tests/Services/OpenApiSchemaService/OpenApiSchemaService.RequestBodySchemas.cs
@@ -984,8 +984,9 @@ private void VerifyOptionalEnum(OpenApiDocument document)
         var property = properties["status"];
 
         Assert.NotNull(property);
-        Assert.Equal(3, property.Enum.Count);
-        Assert.Equal("Approved", property.Default.GetValue<string>());
+        var statusReference = Assert.IsType<OpenApiSchemaReference>(property);
+        Assert.Equal(3, statusReference.RecursiveTarget.Enum.Count);
+        Assert.Equal("Approved", statusReference.Default.GetValue<string>());
     }
 
     [ApiController]
diff --git a/src/OpenApi/test/Microsoft.AspNetCore.OpenApi.Tests/Transformers/Implementations/OpenApiSchemaReferenceTransformerTests.cs b/src/OpenApi/test/Microsoft.AspNetCore.OpenApi.Tests/Transformers/Implementations/OpenApiSchemaReferenceTransformerTests.cs
index 2979e5198444..55118b879f66 100644
--- a/src/OpenApi/test/Microsoft.AspNetCore.OpenApi.Tests/Transformers/Implementations/OpenApiSchemaReferenceTransformerTests.cs
+++ b/src/OpenApi/test/Microsoft.AspNetCore.OpenApi.Tests/Transformers/Implementations/OpenApiSchemaReferenceTransformerTests.cs
@@ -1122,6 +1122,38 @@ await VerifyOpenApiDocument(builder, document =>
         });
     }
 
+    // Test for: https://github.com/dotnet/aspnetcore/issues/64048
+    public static object[][] CircularReferencesWithArraysHandlers =>
+    [
+        [(CircularReferenceWithArrayRootOrderArrayFirst dto) => { }],
+        [(CircularReferenceWithArrayRootOrderArrayLast dto) => { }],
+    ];
+
+    [Theory]
+    [MemberData(nameof(CircularReferencesWithArraysHandlers))]
+    public async Task HandlesCircularReferencesWithArraysRegardlessOfPropertyOrder(Delegate requestHandler)
+    {
+        var builder = CreateBuilder();
+        builder.MapPost("/", requestHandler);
+
+        await VerifyOpenApiDocument(builder, (OpenApiDocument document) =>
+        {
+            Assert.NotNull(document.Components?.Schemas);
+            var schema = document.Components.Schemas["CircularReferenceWithArrayModel"];
+            Assert.Equal(JsonSchemaType.Object, schema.Type);
+            Assert.NotNull(schema.Properties);
+            Assert.Collection(schema.Properties,
+                property =>
+                {
+                    Assert.Equal("selfArray", property.Key);
+                    var arraySchema = Assert.IsType<OpenApiSchema>(property.Value);
+                    Assert.Equal(JsonSchemaType.Array, arraySchema.Type);
+                    var itemReference = Assert.IsType<OpenApiSchemaReference>(arraySchema.Items);
+                    Assert.Equal("#/components/schemas/CircularReferenceWithArrayModel", itemReference.Reference.ReferenceV3);
+                });
+        });
+    }
+
     // Test models for issue 61194
     private class Config
     {
@@ -1203,5 +1235,23 @@ private class ReferencedModel
     {
         public int Id { get; set; }
     }
+
+    // Test models for issue 64048
+    public class CircularReferenceWithArrayRootOrderArrayLast
+    {
+        public CircularReferenceWithArrayModel Item { get; set; } = null!;
+        public ICollection<CircularReferenceWithArrayModel> ItemArray { get; set; } = [];
+    }
+
+    public class CircularReferenceWithArrayRootOrderArrayFirst
+    {
+        public ICollection<CircularReferenceWithArrayModel> ItemArray { get; set; } = [];
+        public CircularReferenceWithArrayModel Item { get; set; } = null!;
+    }
+
+    public class CircularReferenceWithArrayModel
+    {
+        public ICollection<CircularReferenceWithArrayModel> SelfArray { get; set; } = [];
+    }
 }
 #nullable restore