diff --git a/implementation/src/main/java/io/smallrye/mutiny/operators/multi/replay/AppendOnlyReplayList.java b/implementation/src/main/java/io/smallrye/mutiny/operators/multi/replay/AppendOnlyReplayList.java
index 8698c38d0..496b72f96 100644
--- a/implementation/src/main/java/io/smallrye/mutiny/operators/multi/replay/AppendOnlyReplayList.java
+++ b/implementation/src/main/java/io/smallrye/mutiny/operators/multi/replay/AppendOnlyReplayList.java
@@ -60,6 +60,10 @@ public boolean hasReachedCompletion() {
             return current.value instanceof Completion;
         }
 
+        public boolean willReachCompletion() {
+            return !hasReachedCompletion() && current.next.value instanceof Completion;
+        }
+
         public boolean hasReachedFailure() {
             return current.value instanceof Failure;
         }
diff --git a/implementation/src/main/java/io/smallrye/mutiny/operators/multi/replay/ReplayOperator.java b/implementation/src/main/java/io/smallrye/mutiny/operators/multi/replay/ReplayOperator.java
index 20f3dc714..35cd8ccef 100644
--- a/implementation/src/main/java/io/smallrye/mutiny/operators/multi/replay/ReplayOperator.java
+++ b/implementation/src/main/java/io/smallrye/mutiny/operators/multi/replay/ReplayOperator.java
@@ -21,7 +21,7 @@ public class ReplayOperator<T> extends AbstractMulti<T> {
 
     private final AtomicBoolean upstreamSubscriptionRequested = new AtomicBoolean();
     private volatile Subscription upstreamSubscription = null;
-    private final CopyOnWriteArrayList<ReplaySubscription> subscriptions = new CopyOnWriteArrayList<>();
+    protected final CopyOnWriteArrayList<ReplaySubscription> subscriptions = new CopyOnWriteArrayList<>();
 
     public ReplayOperator(Multi<T> upstream, long numberOfItemsToReplay) {
         this.upstream = upstream;
@@ -39,11 +39,11 @@ public void subscribe(MultiSubscriber<? super T> subscriber) {
             upstream.subscribe(new UpstreamSubscriber(subscriber));
         }
         ReplaySubscription replaySubscription = new ReplaySubscription(subscriber);
-        subscriber.onSubscribe(replaySubscription);
         subscriptions.add(replaySubscription);
+        subscriber.onSubscribe(replaySubscription);
     }
 
-    private class ReplaySubscription implements Subscription {
+    protected class ReplaySubscription implements Subscription {
 
         private final MultiSubscriber<? super T> downstream;
         private final AtomicLong demand = new AtomicLong();
@@ -115,6 +115,12 @@ private void drain() {
                     downstream.onItem(item);
                     emitted++;
                 }
+                if (!done && cursor.willReachCompletion()) {
+                    cancel();
+                    cursor.readCompletion();
+                    downstream.onComplete();
+                    return;
+                }
                 demand.addAndGet(-emitted);
                 if (wip.decrementAndGet() == 0) {
                     return;
@@ -123,7 +129,7 @@ private void drain() {
         }
     }
 
-    private class UpstreamSubscriber implements MultiSubscriber<T>, ContextSupport {
+    protected class UpstreamSubscriber implements MultiSubscriber<T>, ContextSupport {
 
         private final MultiSubscriber<? super T> initialSubscriber;
 
diff --git a/implementation/src/test/java/io/smallrye/mutiny/groups/MultiReplayTest.java b/implementation/src/test/java/io/smallrye/mutiny/groups/MultiReplayTest.java
index 362c74016..9fdcd8106 100644
--- a/implementation/src/test/java/io/smallrye/mutiny/groups/MultiReplayTest.java
+++ b/implementation/src/test/java/io/smallrye/mutiny/groups/MultiReplayTest.java
@@ -9,8 +9,13 @@
 import java.util.Arrays;
 import java.util.List;
 import java.util.Random;
-import java.util.concurrent.*;
+import java.util.concurrent.CopyOnWriteArrayList;
+import java.util.concurrent.CountDownLatch;
+import java.util.concurrent.ExecutorService;
+import java.util.concurrent.Executors;
 import java.util.concurrent.Flow.Subscription;
+import java.util.concurrent.TimeUnit;
+import java.util.concurrent.TimeoutException;
 import java.util.concurrent.atomic.AtomicBoolean;
 import java.util.concurrent.atomic.AtomicLong;
 
@@ -66,6 +71,17 @@ void basicReplayAll() {
         sub.assertCompleted();
     }
 
+    @Test
+    void shouldCompleteWhenRequestEqualsMax() {
+        Multi<Integer> upstream = Multi.createFrom().range(1, 10);
+        Multi<Integer> replay = Multi.createBy().replaying().upTo(9).ofMulti(upstream);
+
+        AssertSubscriber<Integer> sub = replay.subscribe().withSubscriber(AssertSubscriber.create());
+        sub.request(9);
+        assertThat(sub.getItems()).containsExactly(1, 2, 3, 4, 5, 6, 7, 8, 9);
+        sub.assertCompleted();
+    }
+
     @Test
     void basicReplayLatest3() {
         ExecutorService pool = Executors.newFixedThreadPool(1);
diff --git a/implementation/src/test/java/io/smallrye/mutiny/operators/multi/replay/ReplayOperatorTest.java b/implementation/src/test/java/io/smallrye/mutiny/operators/multi/replay/ReplayOperatorTest.java
new file mode 100644
index 000000000..1ebe24f49
--- /dev/null
+++ b/implementation/src/test/java/io/smallrye/mutiny/operators/multi/replay/ReplayOperatorTest.java
@@ -0,0 +1,27 @@
+package io.smallrye.mutiny.operators.multi.replay;
+
+import static org.junit.jupiter.api.Assertions.assertEquals;
+
+import org.junit.jupiter.api.Test;
+
+import io.smallrye.mutiny.Multi;
+import io.smallrye.mutiny.helpers.test.AssertSubscriber;
+
+public class ReplayOperatorTest {
+
+    @Test
+    public void shouldRemoveSubscriptionAfterCompletion() {
+        // given
+        var upstream = Multi.createFrom().range(0, 3);
+        var operator = new ReplayOperator<>(upstream, 3);
+
+        // when
+        var subscriber = operator.subscribe().withSubscriber(AssertSubscriber.create(3));
+        var subscriber2 = operator.subscribe().withSubscriber(AssertSubscriber.create(3));
+
+        // then
+        subscriber.assertItems(0, 1, 2).assertCompleted();
+        subscriber2.assertItems(0, 1, 2).assertCompleted();
+        assertEquals(0, operator.subscriptions.size());
+    }
+}