diff --git a/tests/test_activation_offloading.py b/tests/test_activation_offloading.py
index 35d8432d81d..5f2f6a03b4b 100644
--- a/tests/test_activation_offloading.py
+++ b/tests/test_activation_offloading.py
@@ -196,6 +196,34 @@ def forward(self, x):
 
         loss.backward()
 
+    @require_torch_accelerator
+    def test_stale_tracker_state_is_cleared_between_forwards(self):
+        """Test that tensors from unused graph branches don't accumulate across steps."""
+
+        class ModelWithUnusedBranch(nn.Module):
+            def __init__(self):
+                super().__init__()
+                self.used = nn.Linear(8, 8)
+                self.unused = nn.Linear(8, 8)
+
+            def forward(self, x):
+                return self.used(x).sum(), self.unused(x).sum()
+
+        model = ModelWithUnusedBranch().to(torch_device)
+        offload_ctx = OffloadActivations(use_pin_memory=False, use_streams=False, min_offload_size=1)
+        offload_ctx.update_model_params(model)
+        inp = torch.randn(4, 8, device=torch_device)
+
+        tracker_counts = []
+        for _ in range(3):
+            model.zero_grad(set_to_none=True)
+            with offload_ctx:
+                loss, _ = model(inp)
+            loss.backward()
+            tracker_counts.append(len(offload_ctx.tracker))
+
+        assert tracker_counts == [tracker_counts[0]] * len(tracker_counts)
+
     @require_torch_accelerator
     def test_parameter_filtering(self):
         """Test that model parameters are filtered during offloading"""
diff --git a/trl/models/activation_offloading.py b/trl/models/activation_offloading.py
index b319d2ee8c3..b6cff43f7a3 100644
--- a/trl/models/activation_offloading.py
+++ b/trl/models/activation_offloading.py
@@ -19,6 +19,8 @@
 # LICENSE file in the root directory of https://github.com/pytorch/torchtune.
 
 
+import sys
+
 import psutil
 import torch
 from accelerate import logging
@@ -568,6 +570,39 @@ def update_model_params(self, model: nn.Module):
 
         self.param_storages = param_storages
 
+    def __enter__(self):
+        """Clear stale state and release BNB buffers before entering.
+
+        By the time __enter__ is called, the previous forward/backward has already completed, so anything still in
+        tracker, storage_to_tensor_id, or the stashes is leaked and safe to drop.
+
+        Two leak paths are handled:
+        1. MoE + sample_packing + torch.compile: dynamic expert routing may leave saved tensors on subgraphs whose
+           backward nodes never execute, so the unpack-then-delete logic never fires. tracker/stashes from the previous
+           step survive into the next.
+        2. QLoRA BNB dequantization buffers: tracker retains references to tensors sharing allocator blocks with BNB
+           buffers, and the allocator cache is never flushed between steps (~0.6 GiB/step, OOM after 30-40).
+
+        Returns super().__enter__() to register pack/unpack hooks via saved_tensors_hooks (PyTorch autograd engine).
+        """
+        self.tracker.clear()
+        self.storage_to_tensor_id.clear()
+        self.tensor_id = 0
+        self.is_first_forward_call = True
+        self.is_first_backward_call = True
+        if self.use_streams:
+            self.bwd_tensor_stash.clear()
+            self.bwd_ev_stash.clear()
+            self.fwd_stash.clear()
+        if "bitsandbytes" in sys.modules:
+            if self.accelerator_type == "xpu":
+                torch.xpu.empty_cache()
+            elif is_torch_npu_available() and self.accelerator_type == "npu":
+                torch.npu.empty_cache()
+            else:
+                torch.cuda.empty_cache()
+        return super().__enter__()
+
     def __exit__(self, *args, **kwargs):
         """Sync streams and clear stashes before parent cleanup.