diff --git a/packages/react-native/Libraries/Blob/FileReader.js b/packages/react-native/Libraries/Blob/FileReader.js
index 98e7f8c9da1..3f8f634104c 100644
--- a/packages/react-native/Libraries/Blob/FileReader.js
+++ b/packages/react-native/Libraries/Blob/FileReader.js
@@ -46,6 +46,13 @@ class FileReader extends EventTarget {
   _result: ?ReaderResult;
   _aborted: boolean = false;
   _readId: number = 0;
+  // The blob being read must stay strongly referenced until the native read
+  // settles. Otherwise, if the caller drops its own reference (as
+  // whatwg-fetch does in `readBlobAsText`), the Blob can be garbage
+  // collected while the read is still in flight, and its BlobCollector
+  // finalizer deallocates the underlying native buffer, failing the read
+  // with "The specified blob is invalid".
+  _blob: ?Blob;
 
   constructor() {
     super();
@@ -56,6 +63,7 @@ class FileReader extends EventTarget {
     this._readyState = EMPTY;
     this._error = null;
     this._result = null;
+    this._blob = null;
   }
 
   _startRead(methodName: string): number {
@@ -110,12 +118,14 @@ class FileReader extends EventTarget {
     }
 
     const readId = this._startRead('readAsArrayBuffer');
+    this._blob = blob;
 
     NativeFileReaderModule.readAsDataURL(blob.data).then(
       (text: string) => {
         if (readId !== this._readId) {
           return;
         }
+        this._blob = null;
 
         const base64 = text.split(',')[1];
         const typedArray = toByteArray(base64);
@@ -127,6 +137,7 @@ class FileReader extends EventTarget {
         if (readId !== this._readId) {
           return;
         }
+        this._blob = null;
         this._error = this._toDOMException(error);
         this._setReadyState(DONE);
       },
@@ -141,12 +152,14 @@ class FileReader extends EventTarget {
     }
 
     const readId = this._startRead('readAsDataURL');
+    this._blob = blob;
 
     NativeFileReaderModule.readAsDataURL(blob.data).then(
       (text: string) => {
         if (readId !== this._readId) {
           return;
         }
+        this._blob = null;
         this._result = text;
         this._setReadyState(DONE);
       },
@@ -154,6 +167,7 @@ class FileReader extends EventTarget {
         if (readId !== this._readId) {
           return;
         }
+        this._blob = null;
         this._error = this._toDOMException(error);
         this._setReadyState(DONE);
       },
@@ -168,12 +182,14 @@ class FileReader extends EventTarget {
     }
 
     const readId = this._startRead('readAsText');
+    this._blob = blob;
 
     NativeFileReaderModule.readAsText(blob.data, encoding).then(
       (text: string) => {
         if (readId !== this._readId) {
           return;
         }
+        this._blob = null;
         this._result = text;
         this._setReadyState(DONE);
       },
@@ -181,6 +197,7 @@ class FileReader extends EventTarget {
         if (readId !== this._readId) {
           return;
         }
+        this._blob = null;
         this._error = this._toDOMException(error);
         this._setReadyState(DONE);
       },
@@ -192,6 +209,10 @@ class FileReader extends EventTarget {
     if (this._readyState === LOADING) {
       this._aborted = true;
       this._readId++;
+      // The abandoned read's callbacks bail out on the readId check without
+      // clearing _blob, so release it here — before dispatching the abort
+      // event, whose handler may start a new read that sets _blob again.
+      this._blob = null;
       this._setReadyState(DONE);
     }
   }
diff --git a/packages/react-native/Libraries/Blob/__tests__/FileReader-test.js b/packages/react-native/Libraries/Blob/__tests__/FileReader-test.js
index 69d02080ab9..0f82773b844 100644
--- a/packages/react-native/Libraries/Blob/__tests__/FileReader-test.js
+++ b/packages/react-native/Libraries/Blob/__tests__/FileReader-test.js
@@ -275,4 +275,108 @@ describe('FileReader', function () {
     expect(() => reader.readAsText(null)).toThrow(TypeError);
     expect(reader.readyState).toBe(FileReader.EMPTY);
   });
+
+  it('should retain the blob until the read resolves', async () => {
+    let resolveRead: string => void = () => {};
+    const spy = jest
+      .spyOn(FileReaderModuleMock, 'readAsText')
+      .mockImplementation(
+        () =>
+          new Promise(resolve => {
+            resolveRead = resolve;
+          }),
+      );
+
+    const reader = new FileReader();
+    const blob = new Blob();
+    const loadend = new Promise<Event>(resolve => {
+      reader.onloadend = resolve;
+    });
+    reader.readAsText(blob);
+    // $FlowFixMe[prop-missing] - accessing private state for the test
+    expect(reader._blob).toBe(blob);
+
+    resolveRead('');
+    await loadend;
+    // $FlowFixMe[prop-missing] - accessing private state for the test
+    expect(reader._blob).toBe(null);
+
+    spy.mockRestore();
+  });
+
+  it('should release the blob when the read rejects', async () => {
+    let rejectRead: Error => void = () => {};
+    const spy = jest
+      .spyOn(FileReaderModuleMock, 'readAsText')
+      .mockImplementation(
+        () =>
+          new Promise((resolve, reject) => {
+            rejectRead = reject;
+          }),
+      );
+
+    const reader = new FileReader();
+    const blob = new Blob();
+    const loadend = new Promise<Event>(resolve => {
+      reader.onloadend = resolve;
+    });
+    reader.readAsText(blob);
+    // $FlowFixMe[prop-missing] - accessing private state for the test
+    expect(reader._blob).toBe(blob);
+
+    rejectRead(new Error('nope'));
+    await loadend;
+    // $FlowFixMe[prop-missing] - accessing private state for the test
+    expect(reader._blob).toBe(null);
+
+    spy.mockRestore();
+  });
+
+  it('should release the blob when a pending read is aborted', () => {
+    const spy = jest
+      .spyOn(FileReaderModuleMock, 'readAsText')
+      .mockImplementation(() => new Promise(() => {}));
+
+    const reader = new FileReader();
+    const blob = new Blob();
+    reader.readAsText(blob);
+    // $FlowFixMe[prop-missing] - accessing private state for the test
+    expect(reader._blob).toBe(blob);
+
+    reader.abort();
+    // $FlowFixMe[prop-missing] - accessing private state for the test
+    expect(reader._blob).toBe(null);
+
+    spy.mockRestore();
+  });
+
+  it('should keep retaining the new blob when a stale read settles after abort', async () => {
+    const resolvers: Array<(string) => void> = [];
+    const spy = jest
+      .spyOn(FileReaderModuleMock, 'readAsText')
+      .mockImplementation(
+        () =>
+          new Promise(resolve => {
+            resolvers.push(resolve);
+          }),
+      );
+
+    const reader = new FileReader();
+    const staleBlob = new Blob();
+    reader.readAsText(staleBlob);
+    reader.abort();
+
+    const newBlob = new Blob();
+    reader.readAsText(newBlob);
+    // $FlowFixMe[prop-missing] - accessing private state for the test
+    expect(reader._blob).toBe(newBlob);
+
+    // Settle the first (aborted) read; it must not drop the new blob.
+    resolvers[0]('');
+    await Promise.resolve();
+    // $FlowFixMe[prop-missing] - accessing private state for the test
+    expect(reader._blob).toBe(newBlob);
+
+    spy.mockRestore();
+  });
 });