diff --git a/lib/internal/modules/cjs/loader.js b/lib/internal/modules/cjs/loader.js
index c453f2b403e89d..d55c7cec101d9b 100644
--- a/lib/internal/modules/cjs/loader.js
+++ b/lib/internal/modules/cjs/loader.js
@@ -1144,7 +1144,7 @@ function getDefaultLoad(url, filename) {
   return function defaultLoad(urlFromHook, context) {
     // If the url is the same as the original one, save the conversion.
     const isLoadingOriginalModule = (urlFromHook === url);
-    const filenameFromHook = isLoadingOriginalModule ? filename : convertURLToCJSFilename(url);
+    const filenameFromHook = isLoadingOriginalModule ? filename : convertURLToCJSFilename(urlFromHook);
     const source = defaultLoadImpl(filenameFromHook, context.format);
     // Format from context is directly returned, because format detection should only be
     // done after the entire load chain is completed.
diff --git a/test/module-hooks/test-module-hooks-load-url-change.js b/test/module-hooks/test-module-hooks-load-url-change.js
new file mode 100644
index 00000000000000..809de73998a60a
--- /dev/null
+++ b/test/module-hooks/test-module-hooks-load-url-change.js
@@ -0,0 +1,29 @@
+'use strict';
+
+const common = require('../common');
+const assert = require('assert');
+const { registerHooks } = require('module');
+const fixtures = require('../common/fixtures');
+
+// This tests shows the url parameter in `load` can be changed in the `nextLoad` call
+
+const hook = registerHooks({
+  resolve(specifier, context, nextLoad) {
+    assert.strictEqual(specifier, 'rfs');
+    return {
+      url: 'file:///rfs',
+      shortCircuit: true,
+    };
+  },
+  load: common.mustCall(function load(url, context, nextLoad) {
+    assert.strictEqual(url, 'file:///rfs');
+    return nextLoad(
+      fixtures.fileURL('module-hooks', `redirected-fs.js`).href,
+      context
+    );
+  }),
+});
+
+assert.strictEqual(require('rfs').exports_for_test, 'redirected fs');
+
+hook.deregister();