diff --git a/.changeset/fluffy-ducks-happen.md b/.changeset/fluffy-ducks-happen.md
new file mode 100644
index 000000000000..0fc6fefc9e97
--- /dev/null
+++ b/.changeset/fluffy-ducks-happen.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: correctly transform `{@const foo = await ...}`
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/utils.js b/packages/svelte/src/compiler/phases/3-transform/client/utils.js
index 6d9dac8a33d3..389ac093d0f4 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/utils.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/utils.js
@@ -291,6 +291,9 @@ export function should_proxy(node, scope) {
  * @param {ComponentClientTransformState} state
  * @param {Expression} arg
  */
-export function create_derived(state, arg) {
-	return b.call(state.analysis.runes ? '$.derived' : '$.derived_safe_equal', arg);
+export function create_derived(state, arg, async = false) {
+	return b.call(
+		state.analysis.runes ? `$.${async ? 'async_' : ''}derived` : '$.derived_safe_equal',
+		arg
+	);
 }
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/ConstTag.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/ConstTag.js
index 34acdd6bb975..be820b1c0ea9 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/ConstTag.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/ConstTag.js
@@ -2,7 +2,7 @@
 /** @import { AST } from '#compiler' */
 /** @import { ComponentContext } from '../types' */
 import { dev } from '../../../../state.js';
-import { extract_identifiers } from '../../../../utils/ast.js';
+import { extract_identifiers, is_expression_async } from '../../../../utils/ast.js';
 import * as b from '#compiler/builders';
 import { create_derived } from '../utils.js';
 import { get_value } from './shared/declarations.js';
@@ -17,7 +17,11 @@ export function ConstTag(node, context) {
 	// TODO we can almost certainly share some code with $derived(...)
 	if (declaration.id.type === 'Identifier') {
 		const init = build_expression(context, declaration.init, node.metadata.expression);
-		let expression = create_derived(context.state, b.thunk(init));
+		let expression = create_derived(
+			context.state,
+			is_expression_async(init) ? b.arrow([], init, true) : b.thunk(init),
+			is_expression_async(init)
+		);
 
 		if (dev) {
 			expression = b.call('$.tag', expression, b.literal(declaration.id.name));
@@ -58,10 +62,11 @@ export function ConstTag(node, context) {
 			b.block([
 				b.const(/** @type {Pattern} */ (context.visit(declaration.id, child_state)), init),
 				b.return(b.object(identifiers.map((node) => b.prop('init', node, node))))
-			])
+			]),
+			is_expression_async(init)
 		);
 
-		let expression = create_derived(context.state, fn);
+		let expression = create_derived(context.state, fn, is_expression_async(init));
 
 		if (dev) {
 			expression = b.call('$.tag', expression, b.literal('[@const]'));