diff --git a/packages/react-native-renderer/src/ReactFiberConfigFabric.js b/packages/react-native-renderer/src/ReactFiberConfigFabric.js
index d602ab05efa81..d28b3400c66c3 100644
--- a/packages/react-native-renderer/src/ReactFiberConfigFabric.js
+++ b/packages/react-native-renderer/src/ReactFiberConfigFabric.js
@@ -57,7 +57,10 @@ import {
   getInspectorDataForInstance,
 } from './ReactNativeFiberInspector';
 
-import {passChildrenWhenCloningPersistedNodes} from 'shared/ReactFeatureFlags';
+import {
+  passChildrenWhenCloningPersistedNodes,
+  enableLazyPublicInstanceInFabric,
+} from 'shared/ReactFeatureFlags';
 import {REACT_CONTEXT_TYPE} from 'shared/ReactSymbols';
 import type {ReactContext} from 'shared/ReactTypes';
 
@@ -93,8 +96,11 @@ export type Instance = {
     currentProps: Props,
     // Reference to the React handle (the fiber)
     internalInstanceHandle: InternalInstanceHandle,
-    // Exposed through refs.
-    publicInstance: PublicInstance,
+    // Exposed through refs. Potentially lazily created.
+    publicInstance: PublicInstance | null,
+    // This is only necessary to lazily create `publicInstance`.
+    // Will be set to `null` after that is created.
+    publicRootInstance?: PublicRootInstance | null,
   },
 };
 export type TextInstance = {
@@ -186,23 +192,37 @@ export function createInstance(
     internalInstanceHandle, // internalInstanceHandle
   );
 
-  const component = createPublicInstance(
-    tag,
-    viewConfig,
-    internalInstanceHandle,
-    rootContainerInstance.publicInstance,
-  );
-
-  return {
-    node: node,
-    canonical: {
-      nativeTag: tag,
+  if (enableLazyPublicInstanceInFabric) {
+    return {
+      node: node,
+      canonical: {
+        nativeTag: tag,
+        viewConfig,
+        currentProps: props,
+        internalInstanceHandle,
+        publicInstance: null,
+        publicRootInstance: rootContainerInstance.publicInstance,
+      },
+    };
+  } else {
+    const component = createPublicInstance(
+      tag,
       viewConfig,
-      currentProps: props,
       internalInstanceHandle,
-      publicInstance: component,
-    },
-  };
+      rootContainerInstance.publicInstance,
+    );
+
+    return {
+      node: node,
+      canonical: {
+        nativeTag: tag,
+        viewConfig,
+        currentProps: props,
+        internalInstanceHandle,
+        publicInstance: component,
+      },
+    };
+  }
 }
 
 export function createTextInstance(
@@ -277,7 +297,18 @@ export function getChildHostContext(
 }
 
 export function getPublicInstance(instance: Instance): null | PublicInstance {
-  if (instance.canonical != null && instance.canonical.publicInstance != null) {
+  if (instance.canonical != null) {
+    if (instance.canonical.publicInstance == null) {
+      instance.canonical.publicInstance = createPublicInstance(
+        instance.canonical.nativeTag,
+        instance.canonical.viewConfig,
+        instance.canonical.internalInstanceHandle,
+        instance.canonical.publicRootInstance ?? null,
+      );
+      // This was only necessary to create the public instance.
+      instance.canonical.publicRootInstance = null;
+    }
+
     return instance.canonical.publicInstance;
   }
 
diff --git a/packages/shared/ReactFeatureFlags.js b/packages/shared/ReactFeatureFlags.js
index 1cb1cb4cf7dc0..fbdfe5a468516 100644
--- a/packages/shared/ReactFeatureFlags.js
+++ b/packages/shared/ReactFeatureFlags.js
@@ -154,6 +154,8 @@ export const enableUseEffectCRUDOverload = false;
 
 export const enableFastAddPropertiesInDiffing = true;
 
+export const enableLazyPublicInstanceInFabric = false;
+
 // -----------------------------------------------------------------------------
 // Ready for next major.
 //
diff --git a/packages/shared/forks/ReactFeatureFlags.native-fb-dynamic.js b/packages/shared/forks/ReactFeatureFlags.native-fb-dynamic.js
index 001b3d64c06dc..ffcec9334d663 100644
--- a/packages/shared/forks/ReactFeatureFlags.native-fb-dynamic.js
+++ b/packages/shared/forks/ReactFeatureFlags.native-fb-dynamic.js
@@ -28,3 +28,4 @@ export const enableUseEffectCRUDOverload = __VARIANT__;
 export const enableOwnerStacks = __VARIANT__;
 export const enableRemoveConsolePatches = __VARIANT__;
 export const enableFastAddPropertiesInDiffing = __VARIANT__;
+export const enableLazyPublicInstanceInFabric = __VARIANT__;
diff --git a/packages/shared/forks/ReactFeatureFlags.native-fb.js b/packages/shared/forks/ReactFeatureFlags.native-fb.js
index 6e82185b5d98c..2eff113ae42f1 100644
--- a/packages/shared/forks/ReactFeatureFlags.native-fb.js
+++ b/packages/shared/forks/ReactFeatureFlags.native-fb.js
@@ -30,6 +30,7 @@ export const {
   enableOwnerStacks,
   enableRemoveConsolePatches,
   enableFastAddPropertiesInDiffing,
+  enableLazyPublicInstanceInFabric,
 } = dynamicFlags;
 
 // The rest of the flags are static for better dead code elimination.
diff --git a/packages/shared/forks/ReactFeatureFlags.native-oss.js b/packages/shared/forks/ReactFeatureFlags.native-oss.js
index 3f373e998cd8e..bcd8b375eca67 100644
--- a/packages/shared/forks/ReactFeatureFlags.native-oss.js
+++ b/packages/shared/forks/ReactFeatureFlags.native-oss.js
@@ -72,6 +72,7 @@ export const enableYieldingBeforePassive = false;
 export const enableThrottledScheduling = false;
 export const enableViewTransition = false;
 export const enableFastAddPropertiesInDiffing = false;
+export const enableLazyPublicInstanceInFabric = false;
 
 // Profiling Only
 export const enableProfilerTimer = __PROFILE__;
diff --git a/packages/shared/forks/ReactFeatureFlags.test-renderer.js b/packages/shared/forks/ReactFeatureFlags.test-renderer.js
index da9b8a2612c9b..6fcd35c40774b 100644
--- a/packages/shared/forks/ReactFeatureFlags.test-renderer.js
+++ b/packages/shared/forks/ReactFeatureFlags.test-renderer.js
@@ -71,6 +71,7 @@ export const enableYieldingBeforePassive = true;
 export const enableThrottledScheduling = false;
 export const enableViewTransition = false;
 export const enableFastAddPropertiesInDiffing = true;
+export const enableLazyPublicInstanceInFabric = false;
 
 // TODO: This must be in sync with the main ReactFeatureFlags file because
 // the Test Renderer's value must be the same as the one used by the
diff --git a/packages/shared/forks/ReactFeatureFlags.test-renderer.native-fb.js b/packages/shared/forks/ReactFeatureFlags.test-renderer.native-fb.js
index 8c20cc28deb15..743ba39a86792 100644
--- a/packages/shared/forks/ReactFeatureFlags.test-renderer.native-fb.js
+++ b/packages/shared/forks/ReactFeatureFlags.test-renderer.native-fb.js
@@ -69,6 +69,7 @@ export const enableThrottledScheduling = false;
 export const enableViewTransition = false;
 export const enableRemoveConsolePatches = false;
 export const enableFastAddPropertiesInDiffing = false;
+export const enableLazyPublicInstanceInFabric = false;
 
 // Flow magic to verify the exports of this file match the original version.
 ((((null: any): ExportsType): FeatureFlagsType): ExportsType);
diff --git a/packages/shared/forks/ReactFeatureFlags.test-renderer.www.js b/packages/shared/forks/ReactFeatureFlags.test-renderer.www.js
index bc30992eb6eb5..26747d3fb69a9 100644
--- a/packages/shared/forks/ReactFeatureFlags.test-renderer.www.js
+++ b/packages/shared/forks/ReactFeatureFlags.test-renderer.www.js
@@ -84,6 +84,7 @@ export const enableThrottledScheduling = false;
 export const enableViewTransition = false;
 export const enableRemoveConsolePatches = false;
 export const enableFastAddPropertiesInDiffing = false;
+export const enableLazyPublicInstanceInFabric = false;
 
 // Flow magic to verify the exports of this file match the original version.
 ((((null: any): ExportsType): FeatureFlagsType): ExportsType);
diff --git a/packages/shared/forks/ReactFeatureFlags.www-dynamic.js b/packages/shared/forks/ReactFeatureFlags.www-dynamic.js
index 3cab1318c490e..d0b4404a3e946 100644
--- a/packages/shared/forks/ReactFeatureFlags.www-dynamic.js
+++ b/packages/shared/forks/ReactFeatureFlags.www-dynamic.js
@@ -39,6 +39,7 @@ export const enableSiblingPrerendering = __VARIANT__;
 export const enableUseEffectCRUDOverload = __VARIANT__;
 export const enableRemoveConsolePatches = __VARIANT__;
 export const enableFastAddPropertiesInDiffing = __VARIANT__;
+export const enableLazyPublicInstanceInFabric = false;
 export const enableViewTransition = __VARIANT__;
 
 // TODO: These flags are hard-coded to the default values used in open source.
diff --git a/packages/shared/forks/ReactFeatureFlags.www.js b/packages/shared/forks/ReactFeatureFlags.www.js
index 57be83577c956..8da74c54bd69e 100644
--- a/packages/shared/forks/ReactFeatureFlags.www.js
+++ b/packages/shared/forks/ReactFeatureFlags.www.js
@@ -110,5 +110,7 @@ export const disableLegacyMode = true;
 
 export const enableShallowPropDiffing = false;
 
+export const enableLazyPublicInstanceInFabric = false;
+
 // Flow magic to verify the exports of this file match the original version.
 ((((null: any): ExportsType): FeatureFlagsType): ExportsType);