diff --git a/packages/vector_graphics/CHANGELOG.md b/packages/vector_graphics/CHANGELOG.md
index 8c2dce6bb06..b9fc41f50d5 100644
--- a/packages/vector_graphics/CHANGELOG.md
+++ b/packages/vector_graphics/CHANGELOG.md
@@ -1,3 +1,8 @@
+## 1.2.5
+
+* Fixes a leak of the decoded picture when a `VectorGraphic` is removed before
+  loading finishes.
+
 ## 1.2.4
 
 * Fixes an unhandled exception reported for every asynchronous loading failure,
diff --git a/packages/vector_graphics/lib/src/vector_graphics.dart b/packages/vector_graphics/lib/src/vector_graphics.dart
index 23f36c44a5a..1c0646b2eed 100644
--- a/packages/vector_graphics/lib/src/vector_graphics.dart
+++ b/packages/vector_graphics/lib/src/vector_graphics.dart
@@ -421,18 +421,20 @@ class _VectorGraphicWidgetState extends State<VectorGraphic> {
     try {
       final _PictureData data = await _loadPicture(context, key, loader);
       data.count += 1;
+      if (data.count == 1) {
+        _livePictureCache[key] = data;
+      }
 
       // The widget may have changed, requesting a new vector graphic before
       // this operation could complete.
       if (!mounted || loader != widget.loader) {
-        _maybeReleasePicture(data);
+        // Other widgets awaiting the same load resume after this one, all in the
+        // same microtask. Defer the release to a later microtask so they can claim
+        // the picture first; otherwise it could be disposed while they still need it.
+        scheduleMicrotask(() => _maybeReleasePicture(data));
         return;
       }
 
-      if (data.count == 1) {
-        _livePictureCache[key] = data;
-      }
-
       setState(() {
         _maybeReleasePicture(_pictureData);
         _pictureData = data;
diff --git a/packages/vector_graphics/pubspec.yaml b/packages/vector_graphics/pubspec.yaml
index 22e8eed23c7..73c5831f219 100644
--- a/packages/vector_graphics/pubspec.yaml
+++ b/packages/vector_graphics/pubspec.yaml
@@ -2,7 +2,7 @@ name: vector_graphics
 description: A vector graphics rendering package for Flutter using a binary encoding.
 repository: https://github.com/flutter/packages/tree/main/packages/vector_graphics
 issue_tracker: https://github.com/flutter/flutter/issues?q=is%3Aissue+is%3Aopen+label%3A%22p%3A+vector_graphics%22
-version: 1.2.4
+version: 1.2.5
 
 environment:
   sdk: ^3.11.0
diff --git a/packages/vector_graphics/test/caching_test.dart b/packages/vector_graphics/test/caching_test.dart
index 33b9a81dc36..81244306fe9 100644
--- a/packages/vector_graphics/test/caching_test.dart
+++ b/packages/vector_graphics/test/caching_test.dart
@@ -3,10 +3,12 @@
 // found in the LICENSE file.
 
 import 'dart:async';
-import 'dart:typed_data';
+import 'dart:ui' as ui;
 
+import 'package:flutter/foundation.dart';
 import 'package:flutter/widgets.dart';
 import 'package:flutter_test/flutter_test.dart';
+import 'package:vector_graphics/src/render_vector_graphic.dart';
 import 'package:vector_graphics/src/vector_graphics.dart';
 import 'package:vector_graphics_codec/vector_graphics_codec.dart';
 
@@ -249,6 +251,105 @@ void main() {
 
     expect(testBundle.loadKeys, <String>['bar.svg', 'foo.svg', 'foo.svg']);
   });
+
+  group('Pictures decoded after their VectorGraphic is removed', () {
+    // Collects the pictures created during a test.
+    Set<ui.Picture> trackPictures() {
+      final created = <ui.Picture>{};
+      void listener(ObjectEvent event) {
+        final Object object = event.object;
+        if (event is ObjectCreated && object is ui.Picture) {
+          created.add(object);
+        }
+      }
+
+      FlutterMemoryAllocations.instance.addListener(listener);
+      addTearDown(() => FlutterMemoryAllocations.instance.removeListener(listener));
+      return created;
+    }
+
+    testWidgets('are disposed', (WidgetTester tester) async {
+      final loader = CompleterBytesLoader();
+      final Set<ui.Picture> created = trackPictures();
+
+      await tester.pumpWidget(VectorGraphic(loader: loader));
+      await tester.pumpWidget(const SizedBox());
+      loader.complete();
+      await tester.pumpAndSettle();
+
+      expect(created, hasLength(1));
+      expect(created.single.debugDisposed, isTrue);
+    });
+
+    testWidgets('are disposed once when every widget sharing the load is removed', (
+      WidgetTester tester,
+    ) async {
+      final loader = CompleterBytesLoader();
+      final Set<ui.Picture> created = trackPictures();
+
+      await tester.pumpWidget(
+        Column(
+          children: <Widget>[
+            VectorGraphic(loader: loader),
+            VectorGraphic(loader: loader),
+          ],
+        ),
+      );
+      await tester.pumpWidget(const SizedBox());
+      loader.complete();
+      await tester.pumpAndSettle();
+
+      expect(tester.takeException(), isNull);
+      expect(created, hasLength(1));
+      expect(created.single.debugDisposed, isTrue);
+    });
+
+    testWidgets('stay alive while another widget sharing the load shows them', (
+      WidgetTester tester,
+    ) async {
+      final loader = CompleterBytesLoader();
+
+      await tester.pumpWidget(
+        Column(
+          children: <Widget>[
+            VectorGraphic(key: GlobalKey(), loader: loader),
+            VectorGraphic(loader: loader),
+          ],
+        ),
+      );
+      await tester.pumpWidget(Column(children: <Widget>[VectorGraphic(loader: loader)]));
+      loader.complete();
+      await tester.pumpAndSettle();
+
+      expect(tester.takeException(), isNull);
+      final ui.Picture picture = tester.allRenderObjects
+          .whereType<RenderVectorGraphic>()
+          .single
+          .pictureInfo
+          .picture;
+      expect(picture.debugDisposed, isFalse);
+
+      await tester.pumpWidget(const SizedBox());
+      expect(picture.debugDisposed, isTrue);
+    });
+
+    testWidgets('are disposed when the loader changes before decoding finishes', (
+      WidgetTester tester,
+    ) async {
+      final first = CompleterBytesLoader();
+      final second = CompleterBytesLoader();
+
+      final Set<ui.Picture> created = trackPictures();
+      await tester.pumpWidget(VectorGraphic(loader: first));
+      await tester.pumpWidget(VectorGraphic(loader: second));
+      first.complete();
+      await tester.pumpAndSettle();
+
+      expect(tester.takeException(), isNull);
+      expect(created, hasLength(1));
+      expect(created.single.debugDisposed, isTrue);
+    });
+  });
 }
 
 class TestAssetBundle extends Fake implements AssetBundle {
@@ -296,3 +397,17 @@ class TestWidgetsLocalizations extends DefaultWidgetsLocalizations {
   @override
   TextDirection get textDirection => TextDirection.ltr;
 }
+
+class CompleterBytesLoader extends BytesLoader {
+  final Completer<ByteData> _completer = Completer<ByteData>();
+
+  /// Finishes loading with a small, empty vector graphic.
+  void complete() {
+    final buffer = VectorGraphicsBuffer();
+    codec.writeSize(buffer, 10, 10);
+    _completer.complete(buffer.done());
+  }
+
+  @override
+  Future<ByteData> loadBytes(BuildContext? context) => _completer.future;
+}