diff --git a/NEWS b/NEWS
index 91bd9e2da7c4..6886092c9245 100644
--- a/NEWS
+++ b/NEWS
@@ -10,6 +10,9 @@ PHP                                                                        NEWS
   . Fixed GHSA-62xp-839h-2637 (IPv6 ACL bypass in FastCGI listen.allowed_clients
     due to partial address comparison). (CVE-2026-91768) (Alexandre Daubois)
 
+- Hash:
+  . Improved performance of hash_pbkdf2. (Sjoerd Langkemper)
+
 - MySQLnd:
   . Fixed GHSA-r6x9-5r99-36j7 (Various packet overreads in mysqlnd wire
     protocol). (CVE-2025-1218) (Jakub Zelenka, Nora Dossche)
diff --git a/UPGRADING b/UPGRADING
index efa74cb42cf9..9954f2a561c2 100644
--- a/UPGRADING
+++ b/UPGRADING
@@ -592,3 +592,7 @@ PHP 8.2 UPGRADE NOTES
 ========================================
 14. Performance Improvements
 ========================================
+
+- Hash:
+  . hash_pbkdf2() is now faster. Applications using PBKDF2 may consider whether
+    their iteration count can be increased.
diff --git a/ext/hash/hash.c b/ext/hash/hash.c
index 4fdecfca79fb..f22e13037002 100644
--- a/ext/hash/hash.c
+++ b/ext/hash/hash.c
@@ -497,6 +497,12 @@ static inline void php_hash_hmac_round(unsigned char *final, const php_hash_ops
 	ops->hash_final(final, context);
 }
 
+static inline void php_hash_hmac_round_with_copy(unsigned char *final, const php_hash_ops *ops, void *base_context, void *context, const unsigned char *data, const zend_long data_size) {
+	ops->hash_copy(ops, base_context, context);
+	ops->hash_update(context, data, data_size);
+	ops->hash_final(final, context);
+}
+
 static void php_hash_do_hash_hmac(
 	zval *return_value, zend_string *algo, char *data, size_t data_len, char *key, size_t key_len, bool raw_output, bool isfilename
 ) /* {{{ */ {
@@ -996,7 +1002,7 @@ PHP_FUNCTION(hash_pbkdf2)
 	size_t pass_len, salt_len = 0;
 	bool raw_output = 0;
 	const php_hash_ops *ops;
-	void *context;
+	void *context, *inner_context, *outer_context;
 	HashTable *args = NULL;
 
 	if (zend_parse_parameters(ZEND_NUM_ARGS(), "Sssl|lbh", &algo, &pass, &pass_len, &salt, &salt_len, &iterations, &length, &raw_output, &args) == FAILURE) {
@@ -1027,6 +1033,9 @@ PHP_FUNCTION(hash_pbkdf2)
 	context = php_hash_alloc_context(ops);
 	ops->hash_init(context, args);
 
+	inner_context = php_hash_alloc_context(ops);
+	outer_context = php_hash_alloc_context(ops);
+
 	K1 = emalloc(ops->block_size);
 	K2 = emalloc(ops->block_size);
 	digest = emalloc(ops->digest_size);
@@ -1037,6 +1046,12 @@ PHP_FUNCTION(hash_pbkdf2)
 	/* Convert K1 to opad -- 0x6A = 0x36 ^ 0x5C */
 	php_hash_string_xor_char(K2, K1, 0x6A, ops->block_size);
 
+	/* Precompute the hash states after absorbing the ipad and opad blocks */
+	ops->hash_init(inner_context, NULL);
+	ops->hash_update(inner_context, K1, ops->block_size);
+	ops->hash_init(outer_context, NULL);
+	ops->hash_update(outer_context, K2, ops->block_size);
+
 	/* Setup Main Loop to build a long enough result */
 	if (length == 0) {
 		length = ops->digest_size;
@@ -1065,8 +1080,8 @@ PHP_FUNCTION(hash_pbkdf2)
 		computed_salt[salt_len + 2] = (unsigned char) ((i & 0xFF00) >> 8);
 		computed_salt[salt_len + 3] = (unsigned char) (i & 0xFF);
 
-		php_hash_hmac_round(digest, ops, context, K1, computed_salt, (zend_long) salt_len + 4);
-		php_hash_hmac_round(digest, ops, context, K2, digest, ops->digest_size);
+		php_hash_hmac_round_with_copy(digest, ops, inner_context, context, computed_salt, (zend_long) salt_len + 4);
+		php_hash_hmac_round_with_copy(digest, ops, outer_context, context, digest, ops->digest_size);
 		/* } */
 
 		/* temp = digest */
@@ -1078,8 +1093,8 @@ PHP_FUNCTION(hash_pbkdf2)
 		 */
 		for (j = 1; j < iterations; j++) {
 			/* digest = hash_hmac(digest, password) { */
-			php_hash_hmac_round(digest, ops, context, K1, digest, ops->digest_size);
-			php_hash_hmac_round(digest, ops, context, K2, digest, ops->digest_size);
+			php_hash_hmac_round_with_copy(digest, ops, inner_context, context, digest, ops->digest_size);
+			php_hash_hmac_round_with_copy(digest, ops, outer_context, context, digest, ops->digest_size);
 			/* } */
 			/* temp ^= digest */
 			php_hash_string_xor(temp, temp, digest, ops->digest_size);
@@ -1095,6 +1110,10 @@ PHP_FUNCTION(hash_pbkdf2)
 	efree(K2);
 	efree(computed_salt);
 	efree(context);
+	ZEND_SECURE_ZERO(inner_context, ops->context_size);
+	ZEND_SECURE_ZERO(outer_context, ops->context_size);
+	efree(inner_context);
+	efree(outer_context);
 	efree(digest);
 	efree(temp);