diff --git a/.changeset/olive-clouds-check.md b/.changeset/olive-clouds-check.md
new file mode 100644
index 0000000000..be7b921799
--- /dev/null
+++ b/.changeset/olive-clouds-check.md
@@ -0,0 +1,5 @@
+---
+"@tanstack/query-core": patch
+---
+
+fix(query-core): replaceEqualDeep max depth
diff --git a/packages/query-core/src/utils.ts b/packages/query-core/src/utils.ts
index 61bb09d8ba..33d023e9ca 100644
--- a/packages/query-core/src/utils.ts
+++ b/packages/query-core/src/utils.ts
@@ -310,12 +310,14 @@ export function partialDeepEqual(a: any, b: any): boolean {
  * If not, it will replace any deeply equal children of `b` with those of `a`.
  * This can be used for structural sharing between JSON values for example.
  */
-export function replaceEqualDeep<T>(a: unknown, b: T): T
-export function replaceEqualDeep(a: any, b: any): any {
+export function replaceEqualDeep<T>(a: unknown, b: T, depth?: number): T
+export function replaceEqualDeep(a: any, b: any, depth = 0): any {
   if (a === b) {
     return a
   }
 
+  if (depth > 500) return b
+
   const array = isPlainArray(a) && isPlainArray(b)
 
   if (array || (isPlainObject(a) && isPlainObject(b))) {
@@ -328,7 +330,7 @@ export function replaceEqualDeep(a: any, b: any): any {
 
     for (let i = 0; i < bSize; i++) {
       const key = array ? i : bItems[i]
-      copy[key] = replaceEqualDeep(a[key], b[key])
+      copy[key] = replaceEqualDeep(a[key], b[key], depth + 1)
       if (copy[key] === a[key]) {
         equalItems++
       }