diff --git a/packages/block-library/src/list/utils.js b/packages/block-library/src/list/utils.js
index 9603c1d08e0f0..a80ce456e29ab 100644
--- a/packages/block-library/src/list/utils.js
+++ b/packages/block-library/src/list/utils.js
@@ -1,7 +1,7 @@
 /**
  * WordPress dependencies
  */
-import { createBlock } from '@wordpress/blocks';
+import { createBlock, rawHandler } from '@wordpress/blocks';
 
 export function createListBlockFromDOMElement( listElement ) {
 	const listAttributes = {
@@ -70,15 +70,7 @@ export function migrateToListV2( attributes ) {
 		list.setAttribute( 'type', type );
 	}
 
-	const listBlock = createListBlockFromDOMElement( list );
+	const [ listBlock ] = rawHandler( { HTML: list.outerHTML } );
 
-	const { values: omittedValues, ...restAttributes } = attributes;
-
-	return [
-		{
-			...restAttributes,
-			...listBlock.attributes,
-		},
-		listBlock.innerBlocks,
-	];
+	return [ listBlock.attributes, listBlock.innerBlocks ];
 }
diff --git a/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.html b/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.html
new file mode 100644
index 0000000000000..71170bde67a88
--- /dev/null
+++ b/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.html
@@ -0,0 +1,3 @@
+<!-- wp:list -->
+<ul><li><strong>Item</strong><ul><li><strong>Item</strong><ul><li><a rel="noreferrer noopener" href="#" target="_blank">Item</a></li></ul></li></ul><ul><li><strong>Item</strong><ul><li><a rel="noreferrer noopener" href="#" target="_blank">Item</a></li></ul></li></ul><ul><li><strong>Item</strong><ul><li><a rel="noreferrer noopener" href="#" target="_blank">Item</a></li></ul></li></ul></li></ul>
+<!-- /wp:list -->
diff --git a/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.json b/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.json
new file mode 100644
index 0000000000000..0e5c001e4e036
--- /dev/null
+++ b/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.json
@@ -0,0 +1,112 @@
+[
+	{
+		"name": "core/list",
+		"isValid": true,
+		"attributes": {
+			"ordered": false,
+			"values": ""
+		},
+		"innerBlocks": [
+			{
+				"name": "core/list-item",
+				"isValid": true,
+				"attributes": {
+					"content": "<strong>Item</strong>"
+				},
+				"innerBlocks": [
+					{
+						"name": "core/list",
+						"isValid": true,
+						"attributes": {
+							"ordered": false,
+							"values": ""
+						},
+						"innerBlocks": [
+							{
+								"name": "core/list-item",
+								"isValid": true,
+								"attributes": {
+									"content": "<strong>Item</strong>"
+								},
+								"innerBlocks": [
+									{
+										"name": "core/list",
+										"isValid": true,
+										"attributes": {
+											"ordered": false,
+											"values": ""
+										},
+										"innerBlocks": [
+											{
+												"name": "core/list-item",
+												"isValid": true,
+												"attributes": {
+													"content": "<a rel=\"noreferrer noopener\" href=\"#\" target=\"_blank\">Item</a>"
+												},
+												"innerBlocks": []
+											}
+										]
+									}
+								]
+							},
+							{
+								"name": "core/list-item",
+								"isValid": true,
+								"attributes": {
+									"content": "<strong>Item</strong>"
+								},
+								"innerBlocks": [
+									{
+										"name": "core/list",
+										"isValid": true,
+										"attributes": {
+											"ordered": false,
+											"values": ""
+										},
+										"innerBlocks": [
+											{
+												"name": "core/list-item",
+												"isValid": true,
+												"attributes": {
+													"content": "<a rel=\"noreferrer noopener\" href=\"#\" target=\"_blank\">Item</a>"
+												},
+												"innerBlocks": []
+											}
+										]
+									}
+								]
+							},
+							{
+								"name": "core/list-item",
+								"isValid": true,
+								"attributes": {
+									"content": "<strong>Item</strong>"
+								},
+								"innerBlocks": [
+									{
+										"name": "core/list",
+										"isValid": true,
+										"attributes": {
+											"ordered": false,
+											"values": ""
+										},
+										"innerBlocks": [
+											{
+												"name": "core/list-item",
+												"isValid": true,
+												"attributes": {
+													"content": "<a rel=\"noreferrer noopener\" href=\"#\" target=\"_blank\">Item</a>"
+												},
+												"innerBlocks": []
+											}
+										]
+									}
+								]
+							}
+						]
+					}
+				]
+			}
+		]
+	}
+]
diff --git a/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.parsed.json b/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.parsed.json
new file mode 100644
index 0000000000000..11b05c91870a8
--- /dev/null
+++ b/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.parsed.json
@@ -0,0 +1,11 @@
+[
+	{
+		"blockName": "core/list",
+		"attrs": {},
+		"innerBlocks": [],
+		"innerHTML": "\n<ul><li><strong>Item</strong><ul><li><strong>Item</strong><ul><li><a rel=\"noreferrer noopener\" href=\"#\" target=\"_blank\">Item</a></li></ul></li></ul><ul><li><strong>Item</strong><ul><li><a rel=\"noreferrer noopener\" href=\"#\" target=\"_blank\">Item</a></li></ul></li></ul><ul><li><strong>Item</strong><ul><li><a rel=\"noreferrer noopener\" href=\"#\" target=\"_blank\">Item</a></li></ul></li></ul></li></ul>\n",
+		"innerContent": [
+			"\n<ul><li><strong>Item</strong><ul><li><strong>Item</strong><ul><li><a rel=\"noreferrer noopener\" href=\"#\" target=\"_blank\">Item</a></li></ul></li></ul><ul><li><strong>Item</strong><ul><li><a rel=\"noreferrer noopener\" href=\"#\" target=\"_blank\">Item</a></li></ul></li></ul><ul><li><strong>Item</strong><ul><li><a rel=\"noreferrer noopener\" href=\"#\" target=\"_blank\">Item</a></li></ul></li></ul></li></ul>\n"
+		]
+	}
+]
diff --git a/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.serialized.html b/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.serialized.html
new file mode 100644
index 0000000000000..61e33d3dc0e15
--- /dev/null
+++ b/test/integration/fixtures/blocks/core__list__deprecated-v1-nested.serialized.html
@@ -0,0 +1,29 @@
+<!-- wp:list -->
+<ul><!-- wp:list-item -->
+<li><strong>Item</strong><!-- wp:list -->
+<ul><!-- wp:list-item -->
+<li><strong>Item</strong><!-- wp:list -->
+<ul><!-- wp:list-item -->
+<li><a rel="noreferrer noopener" href="#" target="_blank">Item</a></li>
+<!-- /wp:list-item --></ul>
+<!-- /wp:list --></li>
+<!-- /wp:list-item -->
+
+<!-- wp:list-item -->
+<li><strong>Item</strong><!-- wp:list -->
+<ul><!-- wp:list-item -->
+<li><a rel="noreferrer noopener" href="#" target="_blank">Item</a></li>
+<!-- /wp:list-item --></ul>
+<!-- /wp:list --></li>
+<!-- /wp:list-item -->
+
+<!-- wp:list-item -->
+<li><strong>Item</strong><!-- wp:list -->
+<ul><!-- wp:list-item -->
+<li><a rel="noreferrer noopener" href="#" target="_blank">Item</a></li>
+<!-- /wp:list-item --></ul>
+<!-- /wp:list --></li>
+<!-- /wp:list-item --></ul>
+<!-- /wp:list --></li>
+<!-- /wp:list-item --></ul>
+<!-- /wp:list -->