diff --git a/turbopack/crates/turbopack-ecmascript/src/analyzer/mod.rs b/turbopack/crates/turbopack-ecmascript/src/analyzer/mod.rs
index 32e09f5985ba6..3f9bb62c57f98 100644
--- a/turbopack/crates/turbopack-ecmascript/src/analyzer/mod.rs
+++ b/turbopack/crates/turbopack-ecmascript/src/analyzer/mod.rs
@@ -26,7 +26,7 @@ use swc_core::{
     },
 };
 use turbo_rcstr::RcStr;
-use turbo_tasks::{FxIndexMap, FxIndexSet, ResolvedVc, Vc};
+use turbo_tasks::{FxIndexMap, FxIndexSet, Vc};
 use turbopack_core::compile_time_info::{
     CompileTimeDefineValue, DefineableNameSegment, FreeVarReference,
 };
@@ -3755,21 +3755,18 @@ pub fn parse_require_context(args: &[JsValue]) -> Result<RequireContextOptions>
     })
 }
 
-#[turbo_tasks::value(transparent)]
-#[derive(Debug, Clone)]
+#[derive(Debug, Clone, Eq, PartialEq)]
 pub struct RequireContextValue(FxIndexMap<RcStr, RcStr>);
 
-#[turbo_tasks::value_impl]
 impl RequireContextValue {
-    #[turbo_tasks::function]
-    pub async fn from_context_map(map: Vc<RequireContextMap>) -> Result<Vc<Self>> {
+    pub async fn from_context_map(map: Vc<RequireContextMap>) -> Result<Self> {
         let mut context_map = FxIndexMap::default();
 
         for (key, entry) in map.await?.iter() {
             context_map.insert(key.clone(), entry.origin_relative.clone());
         }
 
-        Ok(Vc::cell(context_map))
+        Ok(RequireContextValue(context_map))
     }
 }
 
@@ -3796,9 +3793,9 @@ pub enum WellKnownFunctionKind {
     Require,
     RequireResolve,
     RequireContext,
-    RequireContextRequire(ResolvedVc<RequireContextValue>),
-    RequireContextRequireKeys(ResolvedVc<RequireContextValue>),
-    RequireContextRequireResolve(ResolvedVc<RequireContextValue>),
+    RequireContextRequire(RequireContextValue),
+    RequireContextRequireKeys(RequireContextValue),
+    RequireContextRequireResolve(RequireContextValue),
     Define,
     FsReadMethod(JsWord),
     PathToFileUrl,
@@ -3845,7 +3842,7 @@ fn is_unresolved_id(i: &Id, unresolved_mark: Mark) -> bool {
 #[doc(hidden)]
 pub mod test_utils {
     use anyhow::Result;
-    use turbo_tasks::{FxIndexMap, ResolvedVc, Vc};
+    use turbo_tasks::{FxIndexMap, Vc};
     use turbopack_core::{compile_time_info::CompileTimeInfo, error::PrettyPrintError};
 
     use super::{
@@ -3856,7 +3853,7 @@ pub mod test_utils {
         analyzer::{
             builtin::replace_builtin,
             imports::{ImportAnnotations, ImportAttributes},
-            parse_require_context,
+            parse_require_context, RequireContextValue,
         },
         utils::module_value_to_well_known_object,
     };
@@ -3907,7 +3904,7 @@ pub mod test_utils {
                     map.insert("./c".into(), format!("[context: {}]/c", options.dir).into());
 
                     JsValue::WellKnownFunction(WellKnownFunctionKind::RequireContextRequire(
-                        ResolvedVc::cell(map),
+                        RequireContextValue(map),
                     ))
                 }
                 Err(err) => v.into_unknown(true, PrettyPrintError(&err).to_string()),
diff --git a/turbopack/crates/turbopack-ecmascript/src/analyzer/well_known.rs b/turbopack/crates/turbopack-ecmascript/src/analyzer/well_known.rs
index c4d83de309d3e..cd6dd169f0277 100644
--- a/turbopack/crates/turbopack-ecmascript/src/analyzer/well_known.rs
+++ b/turbopack/crates/turbopack-ecmascript/src/analyzer/well_known.rs
@@ -1,7 +1,7 @@
 use std::mem::take;
 
 use anyhow::Result;
-use turbo_tasks::{ResolvedVc, Vc};
+use turbo_tasks::Vc;
 use turbopack_core::compile_time_info::CompileTimeInfo;
 use url::Url;
 
@@ -354,10 +354,7 @@ pub fn require(args: Vec<JsValue>) -> JsValue {
 }
 
 /// (try to) statically evaluate `require.context(...)()`
-async fn require_context_require(
-    val: ResolvedVc<RequireContextValue>,
-    args: Vec<JsValue>,
-) -> Result<JsValue> {
+async fn require_context_require(val: RequireContextValue, args: Vec<JsValue>) -> Result<JsValue> {
     if args.is_empty() {
         return Ok(JsValue::unknown(
             JsValue::call(
@@ -384,8 +381,7 @@ async fn require_context_require(
         ));
     };
 
-    let map = val.await?;
-    let Some(m) = map.get(s) else {
+    let Some(m) = val.0.get(s) else {
         return Ok(JsValue::unknown(
             JsValue::call(
                 Box::new(JsValue::WellKnownFunction(
@@ -407,12 +403,11 @@ async fn require_context_require(
 
 /// (try to) statically evaluate `require.context(...).keys()`
 async fn require_context_require_keys(
-    val: ResolvedVc<RequireContextValue>,
+    val: RequireContextValue,
     args: Vec<JsValue>,
 ) -> Result<JsValue> {
     Ok(if args.is_empty() {
-        let map = val.await?;
-        JsValue::array(map.keys().cloned().map(|k| k.into()).collect())
+        JsValue::array(val.0.keys().cloned().map(|k| k.into()).collect())
     } else {
         JsValue::unknown(
             JsValue::call(
@@ -429,7 +424,7 @@ async fn require_context_require_keys(
 
 /// (try to) statically evaluate `require.context(...).resolve()`
 async fn require_context_require_resolve(
-    val: ResolvedVc<RequireContextValue>,
+    val: RequireContextValue,
     args: Vec<JsValue>,
 ) -> Result<JsValue> {
     if args.len() != 1 {
@@ -458,8 +453,7 @@ async fn require_context_require_resolve(
         ));
     };
 
-    let map = val.await?;
-    let Some(m) = map.get(s) else {
+    let Some(m) = val.0.get(s) else {
         return Ok(JsValue::unknown(
             JsValue::call(
                 Box::new(JsValue::WellKnownFunction(
diff --git a/turbopack/crates/turbopack-ecmascript/src/references/mod.rs b/turbopack/crates/turbopack-ecmascript/src/references/mod.rs
index 423923eed0d15..c2f57eafb49d9 100644
--- a/turbopack/crates/turbopack-ecmascript/src/references/mod.rs
+++ b/turbopack/crates/turbopack-ecmascript/src/references/mod.rs
@@ -2880,9 +2880,7 @@ async fn require_context_visitor(
 
     Ok(JsValue::WellKnownFunction(
         WellKnownFunctionKind::RequireContextRequire(
-            RequireContextValue::from_context_map(map)
-                .to_resolved()
-                .await?,
+            RequireContextValue::from_context_map(map).await?,
         ),
     ))
 }