diff --git a/ext/opcache/jit/zend_jit_ir.c b/ext/opcache/jit/zend_jit_ir.c
index 2cc6a01c4107..76cf8f073f30 100644
--- a/ext/opcache/jit/zend_jit_ir.c
+++ b/ext/opcache/jit/zend_jit_ir.c
@@ -14116,6 +14116,26 @@ static int zend_jit_class_guard(zend_jit_ctx *jit, const zend_op *opline, ir_ref
 	return 1;
 }
 
+static int zend_jit_func_arg_by_ref_guard(zend_jit_ctx *jit, const zend_op *opline)
+{
+	int32_t exit_point = zend_jit_trace_get_exit_point(opline, ZEND_JIT_EXIT_TO_VM);
+	const void *exit_addr = zend_jit_trace_get_exit_addr(exit_point);
+	ir_ref rx, call_info;
+
+	if (!exit_addr) {
+		return 0;
+	}
+	if (jit->reuse_ip) {
+		rx = jit_IP(jit);
+	} else {
+		rx = ir_LOAD_A(jit_EX(call));
+	}
+	call_info = ir_LOAD_U32(jit_CALL(rx, This.u1.type_info));
+	ir_GUARD_NOT(ir_AND_U32(call_info, ir_CONST_U32(ZEND_CALL_SEND_ARG_BY_REF)),
+		ir_CONST_ADDR(exit_addr));
+	return 1;
+}
+
 static int zend_jit_fetch_obj(zend_jit_ctx         *jit,
                               const zend_op        *opline,
                               const zend_op_array  *op_array,
diff --git a/ext/opcache/jit/zend_jit_trace.c b/ext/opcache/jit/zend_jit_trace.c
index da97d102f202..93d3af997f18 100644
--- a/ext/opcache/jit/zend_jit_trace.c
+++ b/ext/opcache/jit/zend_jit_trace.c
@@ -5989,9 +5989,14 @@ static const void *zend_jit_trace(zend_jit_trace_rec *trace_buffer, uint32_t par
 						if (!JIT_G(current_frame)
 						 || !JIT_G(current_frame)->call
 						 || !JIT_G(current_frame)->call->func
-						 || !TRACE_FRAME_IS_LAST_SEND_BY_VAL(JIT_G(current_frame)->call)) {
+						 || TRACE_FRAME_IS_LAST_SEND_BY_REF(JIT_G(current_frame)->call)) {
 							break;
 						}
+						if (!TRACE_FRAME_IS_LAST_SEND_BY_VAL(JIT_G(current_frame)->call)) {
+							if (!zend_jit_func_arg_by_ref_guard(&ctx, opline)) {
+								goto jit_failure;
+							}
+						}
 						ZEND_FALLTHROUGH;
 					case ZEND_FETCH_OBJ_R:
 					case ZEND_FETCH_OBJ_IS:
diff --git a/ext/opcache/jit/zend_jit_vm_helpers.c b/ext/opcache/jit/zend_jit_vm_helpers.c
index 8b85324ef897..eed7acde7888 100644
--- a/ext/opcache/jit/zend_jit_vm_helpers.c
+++ b/ext/opcache/jit/zend_jit_vm_helpers.c
@@ -859,6 +859,7 @@ zend_jit_trace_stop ZEND_FASTCALL zend_jit_trace_execute(zend_execute_data  *ex,
 					}
 				}
 				break;
+			case ZEND_FETCH_OBJ_FUNC_ARG:
 			case ZEND_FETCH_OBJ_R: {
 				if (opline->op2_type == IS_CONST) {
 					/* Remove the SIMPLE_GET flag to avoid inlining hooks. */
@@ -873,7 +874,6 @@ zend_jit_trace_stop ZEND_FASTCALL zend_jit_trace_execute(zend_execute_data  *ex,
 			case ZEND_FETCH_OBJ_W:
 			case ZEND_FETCH_OBJ_RW:
 			case ZEND_FETCH_OBJ_IS:
-			case ZEND_FETCH_OBJ_FUNC_ARG:
 			case ZEND_FETCH_OBJ_UNSET:
 			case ZEND_ASSIGN_OBJ:
 			case ZEND_ASSIGN_OBJ_OP:
diff --git a/ext/opcache/tests/jit/gh21006.phpt b/ext/opcache/tests/jit/gh21006.phpt
new file mode 100644
index 000000000000..a79c14efc99d
--- /dev/null
+++ b/ext/opcache/tests/jit/gh21006.phpt
@@ -0,0 +1,57 @@
+--TEST--
+GH-21006: JIT SEGV with FETCH_OBJ_FUNC_ARG and property hooks
+--INI--
+opcache.enable=1
+opcache.enable_cli=1
+opcache.jit=tracing
+opcache.jit_hot_loop=1
+opcache.jit_hot_func=1
+opcache.jit_hot_return=1
+opcache.jit_hot_side_exit=1
+--FILE--
+<?php
+namespace Test;
+
+class C
+{
+    public $prop {
+        get => 'sha256';
+    }
+
+    public function sign()
+    {
+        return hash_hmac(
+            algo: $this->prop,
+            data: '',
+            key: '',
+        );
+    }
+}
+
+$obj = new C();
+for ($i = 0; $i < 100; $i++) {
+    $obj->sign();
+}
+
+#[\AllowDynamicProperties]
+class D
+{
+    public function test()
+    {
+        return hash_hmac(
+            algo: $this->algo,
+            data: '',
+            key: '',
+        );
+    }
+}
+
+$d = new D();
+$d->algo = 'sha256';
+for ($i = 0; $i < 100; $i++) {
+    $d->test();
+}
+echo "OK\n";
+?>
+--EXPECT--
+OK