diff --git a/src/libraries/Microsoft.Extensions.Options/src/OptionsCache.cs b/src/libraries/Microsoft.Extensions.Options/src/OptionsCache.cs
index ac6bab4c221656..39e7864b7482ae 100644
--- a/src/libraries/Microsoft.Extensions.Options/src/OptionsCache.cs
+++ b/src/libraries/Microsoft.Extensions.Options/src/OptionsCache.cs
@@ -4,6 +4,7 @@
 using System;
 using System.Collections.Concurrent;
 using System.Diagnostics.CodeAnalysis;
+using System.Threading;
 
 namespace Microsoft.Extensions.Options
 {
@@ -16,11 +17,22 @@ public class OptionsCache<[DynamicallyAccessedMembers(Options.DynamicallyAccesse
         where TOptions : class
     {
         private readonly ConcurrentDictionary<string, Lazy<TOptions>> _cache = new ConcurrentDictionary<string, Lazy<TOptions>>(concurrencyLevel: 1, capacity: 31, StringComparer.Ordinal); // 31 == default capacity
+        private int _generation;
+
+        /// <summary>
+        /// Gets a monotonically-increasing counter that is incremented on every mutation (Clear, TryAdd, TryRemove).
+        /// Consumers can use this to detect whether the cache contents may have changed since they last read an entry.
+        /// </summary>
+        internal int Generation => Volatile.Read(ref _generation);
 
         /// <summary>
         /// Clears all options instances from the cache.
         /// </summary>
-        public void Clear() => _cache.Clear();
+        public void Clear()
+        {
+            _cache.Clear();
+            Interlocked.Increment(ref _generation);
+        }
 
         /// <summary>
         /// Gets a named options instance, or adds a new instance created with <paramref name="createOptions"/>.
@@ -97,11 +109,16 @@ public virtual bool TryAdd(string? name, TOptions options)
         {
             ArgumentNullException.ThrowIfNull(options);
 
-            return _cache.TryAdd(name ?? Options.DefaultName, new Lazy<TOptions>(
+            bool added = _cache.TryAdd(name ?? Options.DefaultName, new Lazy<TOptions>(
 #if !(NET || NETSTANDARD2_1)
                 () =>
 #endif
                 options));
+            if (added)
+            {
+                Interlocked.Increment(ref _generation);
+            }
+            return added;
         }
 
         /// <summary>
@@ -109,7 +126,14 @@ public virtual bool TryAdd(string? name, TOptions options)
         /// </summary>
         /// <param name="name">The name of the options instance.</param>
         /// <returns><see langword="true"/> if anything was removed; otherwise, <see langword="false"/>.</returns>
-        public virtual bool TryRemove(string? name) =>
-            _cache.TryRemove(name ?? Options.DefaultName, out _);
+        public virtual bool TryRemove(string? name)
+        {
+            bool removed = _cache.TryRemove(name ?? Options.DefaultName, out _);
+            if (removed)
+            {
+                Interlocked.Increment(ref _generation);
+            }
+            return removed;
+        }
     }
 }
diff --git a/src/libraries/Microsoft.Extensions.Options/src/OptionsMonitor.cs b/src/libraries/Microsoft.Extensions.Options/src/OptionsMonitor.cs
index 2c8180d0205674..1727c5dc19c1e8 100644
--- a/src/libraries/Microsoft.Extensions.Options/src/OptionsMonitor.cs
+++ b/src/libraries/Microsoft.Extensions.Options/src/OptionsMonitor.cs
@@ -4,6 +4,8 @@
 using System;
 using System.Collections.Generic;
 using System.Diagnostics.CodeAnalysis;
+using System.Runtime.CompilerServices;
+using System.Threading;
 using Microsoft.Extensions.Primitives;
 
 namespace Microsoft.Extensions.Options
@@ -18,9 +20,12 @@ public class OptionsMonitor<[DynamicallyAccessedMembers(Options.DynamicallyAcces
         where TOptions : class
     {
         private readonly IOptionsMonitorCache<TOptions> _cache;
+        private readonly OptionsCache<TOptions>? _fastCache;
         private readonly IOptionsFactory<TOptions> _factory;
         private readonly List<IDisposable> _registrations = new List<IDisposable>();
         internal event Action<TOptions, string>? _onChange;
+        private TOptions? _currentValue;
+        private int _currentValueGeneration;
 
         /// <summary>
         /// Initializes a new instance of <see cref="OptionsMonitor{TOptions}"/> with the specified factory, sources, and cache.
@@ -32,6 +37,7 @@ public OptionsMonitor(IOptionsFactory<TOptions> factory, IEnumerable<IOptionsCha
         {
             _factory = factory;
             _cache = cache;
+            _fastCache = cache as OptionsCache<TOptions>;
 
             void RegisterSource(IOptionsChangeTokenSource<TOptions> source)
             {
@@ -76,7 +82,42 @@ private void InvokeChanged(string? name)
         /// <exception cref="MissingMethodException">The <typeparamref name="TOptions"/> does not have a public parameterless constructor or <typeparamref name="TOptions"/> is <see langword="abstract"/>.</exception>
         public TOptions CurrentValue
         {
-            get => Get(Options.DefaultName);
+            get
+            {
+                OptionsCache<TOptions>? fastCache = _fastCache;
+                if (fastCache is null)
+                {
+                    // User-supplied IOptionsMonitorCache: no generation tracking, always go through Get.
+                    return Get(Options.DefaultName);
+                }
+
+                int gen = fastCache.Generation;
+                // Read generation before value. RefreshCurrentValue writes _currentValue before
+                // _currentValueGeneration (release), so an acquire-load of _currentValueGeneration
+                // here guarantees the subsequent read of _currentValue sees the matching published
+                // value and not a stale one.
+                int cachedGen = Volatile.Read(ref _currentValueGeneration);
+                TOptions? value = Volatile.Read(ref _currentValue);
+                if (value is not null && cachedGen == gen)
+                {
+                    return value;
+                }
+
+                return RefreshCurrentValue(gen);
+            }
+        }
+
+        [MethodImpl(MethodImplOptions.NoInlining)]
+        private TOptions RefreshCurrentValue(int gen)
+        {
+            TOptions value = Get(Options.DefaultName);
+            // Write value before generation: the generation acts as a release signal that
+            // _currentValue is ready. A reader that acquire-loads _currentValueGeneration and
+            // sees gen is then guaranteed (via the release/acquire pairing) to observe the
+            // _currentValue written here.
+            Volatile.Write(ref _currentValue, value);
+            Volatile.Write(ref _currentValueGeneration, gen);
+            return value;
         }
 
         /// <summary>
@@ -88,7 +129,7 @@ public TOptions CurrentValue
         /// <exception cref="MissingMethodException">The <typeparamref name="TOptions"/> does not have a public parameterless constructor or <typeparamref name="TOptions"/> is <see langword="abstract"/>.</exception>
         public virtual TOptions Get(string? name)
         {
-            if (_cache is not OptionsCache<TOptions> optionsCache)
+            if (_fastCache is null)
             {
                 // copying captured variables to locals avoids allocating a closure if we don't enter the if
                 string localName = name ?? Options.DefaultName;
@@ -97,8 +138,7 @@ public virtual TOptions Get(string? name)
             }
 
             // non-allocating fast path
-            return optionsCache.GetOrAdd(name, static (name, factory) => factory.Create(name), _factory);
-
+            return _fastCache.GetOrAdd(name, static (name, factory) => factory.Create(name), _factory);
         }
 
         /// <summary>
diff --git a/src/libraries/Microsoft.Extensions.Options/tests/Microsoft.Extensions.Options.Tests/OptionsMonitorTest.cs b/src/libraries/Microsoft.Extensions.Options/tests/Microsoft.Extensions.Options.Tests/OptionsMonitorTest.cs
index a66a2f554b46dc..b7801964b42543 100644
--- a/src/libraries/Microsoft.Extensions.Options/tests/Microsoft.Extensions.Options.Tests/OptionsMonitorTest.cs
+++ b/src/libraries/Microsoft.Extensions.Options/tests/Microsoft.Extensions.Options.Tests/OptionsMonitorTest.cs
@@ -537,5 +537,89 @@ public WaitHandleConfigureOptions(WaitHandle waitHandle)
             void IConfigureNamedOptions<FakeOptions>.Configure(string? name, FakeOptions options) => _waitHandle.WaitOne();
             void IConfigureOptions<FakeOptions>.Configure(FakeOptions options) => _waitHandle.WaitOne();
         }
+
+        [Fact]
+        public void CurrentValue_ReflectsLatestAfterCacheClear()
+        {
+            var services = new ServiceCollection().AddOptions().AddSingleton<IConfigureOptions<FakeOptions>>(new CountIncrement(this));
+            var sp = services.BuildServiceProvider();
+
+            var monitor = sp.GetRequiredService<IOptionsMonitor<FakeOptions>>();
+            var cache = sp.GetRequiredService<IOptionsMonitorCache<FakeOptions>>();
+
+            Assert.Equal("1", monitor.CurrentValue.Message);
+
+            cache.Clear();
+
+            Assert.Equal("2", monitor.CurrentValue.Message);
+        }
+
+        [Fact]
+        public void CurrentValue_ReflectsLatestAfterTryRemoveDefault()
+        {
+            var services = new ServiceCollection().AddOptions().AddSingleton<IConfigureOptions<FakeOptions>>(new CountIncrement(this));
+            var sp = services.BuildServiceProvider();
+
+            var monitor = sp.GetRequiredService<IOptionsMonitor<FakeOptions>>();
+            var cache = sp.GetRequiredService<IOptionsMonitorCache<FakeOptions>>();
+
+            Assert.Equal("1", monitor.CurrentValue.Message);
+
+            cache.TryRemove(Options.DefaultName);
+
+            Assert.Equal("2", monitor.CurrentValue.Message);
+        }
+
+        [Fact]
+        public void CurrentValue_FallsBackToGetForCustomIOptionsMonitorCache()
+        {
+            var customCache = new CustomOptionsMonitorCache<FakeOptions>();
+            var services = new ServiceCollection()
+                .AddOptions()
+                .AddSingleton<IConfigureOptions<FakeOptions>>(new CountIncrement(this))
+                .AddSingleton<IOptionsMonitorCache<FakeOptions>>(customCache);
+            var sp = services.BuildServiceProvider();
+
+            var monitor = sp.GetRequiredService<IOptionsMonitor<FakeOptions>>();
+
+            Assert.Equal("1", monitor.CurrentValue.Message);
+
+            customCache.Clear();
+
+            Assert.Equal("2", monitor.CurrentValue.Message);
+        }
+
+        private sealed class CustomOptionsMonitorCache<TOptions> : IOptionsMonitorCache<TOptions>
+            where TOptions : class
+        {
+            private readonly Dictionary<string, TOptions> _cache = new Dictionary<string, TOptions>(StringComparer.Ordinal);
+
+            public TOptions GetOrAdd(string? name, Func<TOptions> createOptions)
+            {
+                name ??= Options.DefaultName;
+                if (!_cache.TryGetValue(name, out TOptions? value))
+                {
+                    value = createOptions();
+                    _cache[name] = value;
+                }
+                return value;
+            }
+
+            public bool TryAdd(string? name, TOptions options)
+            {
+                name ??= Options.DefaultName;
+                if (_cache.ContainsKey(name))
+                    return false;
+                _cache[name] = options;
+                return true;
+            }
+
+            public bool TryRemove(string? name)
+            {
+                return _cache.Remove(name ?? Options.DefaultName);
+            }
+
+            public void Clear() => _cache.Clear();
+        }
     }
 }