diff --git a/e2e/cases/hmr/basic/index.test.ts b/e2e/cases/hmr/basic/index.test.ts
index b93daaae6a..d277e98ca6 100644
--- a/e2e/cases/hmr/basic/index.test.ts
+++ b/e2e/cases/hmr/basic/index.test.ts
@@ -2,7 +2,7 @@ import { join } from 'node:path';
 import { expect, rspackTest } from '@e2e/helper';
 
 rspackTest(
-  'HMR should work by default',
+  'should perform HMR and preserve state',
   async ({ page, dev, editFile, copySrcDir }) => {
     const tempSrc = await copySrcDir();
 
@@ -28,17 +28,13 @@ rspackTest(
     );
 
     await expect(locator).toHaveText('Hello Test!');
-
     // #test-keep should remain unchanged when app.tsx HMR
     expect(await locatorKeep.innerHTML()).toBe(keepNum);
 
     await editFile(
       join(tempSrc, 'App.css'),
-      () => `#test {
-  color: rgb(0, 0, 255);
-}`,
+      () => `#test { color: rgb(0, 0, 255); }`,
     );
-
     await expect(locator).toHaveCSS('color', 'rgb(0, 0, 255)');
   },
 );
diff --git a/e2e/cases/hmr/esm/index.test.ts b/e2e/cases/hmr/esm/index.test.ts
new file mode 100644
index 0000000000..cff07cef42
--- /dev/null
+++ b/e2e/cases/hmr/esm/index.test.ts
@@ -0,0 +1,40 @@
+import { join } from 'node:path';
+import { expect, rspackTest } from '@e2e/helper';
+
+rspackTest(
+  'should perform HMR and preserve state when `output.module` is enabled',
+  async ({ page, dev, editFile, copySrcDir }) => {
+    const tempSrc = await copySrcDir();
+
+    await dev({
+      config: {
+        source: {
+          entry: {
+            index: join(tempSrc, 'index.ts'),
+          },
+        },
+      },
+    });
+
+    const locator = page.locator('#test');
+    await expect(locator).toHaveText('Hello Rsbuild!');
+    await expect(locator).toHaveCSS('color', 'rgb(255, 0, 0)');
+
+    const locatorKeep = page.locator('#test-keep');
+    const keepNum = await locatorKeep.innerHTML();
+
+    await editFile(join(tempSrc, 'App.tsx'), (code) =>
+      code.replace('Hello Rsbuild', 'Hello Test'),
+    );
+
+    await expect(locator).toHaveText('Hello Test!');
+    // #test-keep should remain unchanged when app.tsx HMR
+    expect(await locatorKeep.innerHTML()).toBe(keepNum);
+
+    await editFile(
+      join(tempSrc, 'App.css'),
+      () => `#test { color: rgb(0, 0, 255); }`,
+    );
+    await expect(locator).toHaveCSS('color', 'rgb(0, 0, 255)');
+  },
+);
diff --git a/e2e/cases/hmr/esm/rsbuild.config.ts b/e2e/cases/hmr/esm/rsbuild.config.ts
new file mode 100644
index 0000000000..a1be526ccb
--- /dev/null
+++ b/e2e/cases/hmr/esm/rsbuild.config.ts
@@ -0,0 +1,9 @@
+import { defineConfig } from '@rsbuild/core';
+import { pluginReact } from '@rsbuild/plugin-react';
+
+export default defineConfig({
+  plugins: [pluginReact()],
+  output: {
+    module: true,
+  },
+});
diff --git a/e2e/cases/hmr/esm/src/App.css b/e2e/cases/hmr/esm/src/App.css
new file mode 100644
index 0000000000..f49dc220b6
--- /dev/null
+++ b/e2e/cases/hmr/esm/src/App.css
@@ -0,0 +1,3 @@
+#test {
+  color: rgb(255, 0, 0);
+}
diff --git a/e2e/cases/hmr/esm/src/App.tsx b/e2e/cases/hmr/esm/src/App.tsx
new file mode 100644
index 0000000000..44baa4fda4
--- /dev/null
+++ b/e2e/cases/hmr/esm/src/App.tsx
@@ -0,0 +1,4 @@
+import './App.css';
+
+const App = () => <div id="test">Hello Rsbuild!</div>;
+export default App;
diff --git a/e2e/cases/hmr/esm/src/index.ts b/e2e/cases/hmr/esm/src/index.ts
new file mode 100644
index 0000000000..0f9a1befc1
--- /dev/null
+++ b/e2e/cases/hmr/esm/src/index.ts
@@ -0,0 +1,17 @@
+import React from 'react';
+import { createRoot } from 'react-dom/client';
+import App from './App';
+
+const num = Math.ceil(Math.random() * 100);
+const testEl = document.createElement('div');
+testEl.id = 'test-keep';
+
+testEl.innerHTML = String(num);
+
+document.body.appendChild(testEl);
+
+const container = document.getElementById('root');
+if (container) {
+  const root = createRoot(container);
+  root.render(React.createElement(App));
+}
diff --git a/packages/core/src/plugins/esm.ts b/packages/core/src/plugins/esm.ts
index d9988ffd6e..7031b37d86 100644
--- a/packages/core/src/plugins/esm.ts
+++ b/packages/core/src/plugins/esm.ts
@@ -4,16 +4,25 @@ export const pluginEsm = (): RsbuildPlugin => ({
   name: 'rsbuild:esm',
 
   setup(api) {
-    api.modifyBundlerChain((chain, { environment, isServer }) => {
+    api.modifyBundlerChain((chain, { environment, target }) => {
       const { config } = environment;
 
       if (!config.output.module) {
         return;
       }
 
-      if (!isServer) {
+      if (target === 'web') {
+        api.logger.warn(
+          '[rsbuild:config] `output.module` for web target is experimental and may not work as expected.',
+        );
+
+        // Temporary solution to fix the issue of runtime chunk not loaded as expected.
+        chain.optimization.runtimeChunk(true);
+      }
+
+      if (target === 'web-worker') {
         throw new Error(
-          '[rsbuild:config] `output.module` is only supported for Node.js targets.',
+          '[rsbuild:config] `output.module` is not supported for web-worker target.',
         );
       }
 
diff --git a/packages/core/src/plugins/html.ts b/packages/core/src/plugins/html.ts
index 234f84a462..5f603ccd99 100644
--- a/packages/core/src/plugins/html.ts
+++ b/packages/core/src/plugins/html.ts
@@ -260,7 +260,9 @@ export const pluginHtml = (context: InternalContext): RsbuildPlugin => ({
               filename,
               entryName,
               templateParameters,
-              scriptLoading: config.html.scriptLoading,
+              scriptLoading: config.output.module
+                ? 'module'
+                : config.html.scriptLoading,
             };
 
             if (templatePath) {
diff --git a/packages/core/src/types/config.ts b/packages/core/src/types/config.ts
index ee3d50ded4..75f23d8cf3 100644
--- a/packages/core/src/types/config.ts
+++ b/packages/core/src/types/config.ts
@@ -1598,7 +1598,10 @@ export interface HtmlConfig {
   >;
   /**
    * Set the loading mode of the `<script>` tag.
-   * @default 'defer'
+   * - `'defer'`: The `<script>` tags are rendered with `defer` attribute.
+   * - `'module'`: The `<script>` tags are rendered with `type="module"` attribute.
+   * - `'blocking'`: The `<script>` tags are rendered without `defer` or `async` attribute.
+   * @default 'defer'. If `output.module` is enabled, the value is always `'module'`.
    */
   scriptLoading?: ScriptLoading;
 }