diff --git a/packages/react-native-web/src/exports/Image/__tests__/index-test.js b/packages/react-native-web/src/exports/Image/__tests__/index-test.js
index 6bdd81337b..fe7779c3a5 100644
--- a/packages/react-native-web/src/exports/Image/__tests__/index-test.js
+++ b/packages/react-native-web/src/exports/Image/__tests__/index-test.js
@@ -401,4 +401,72 @@ describe('components/Image', () => {
       });
     });
   });
+
+  describe('load event handler identity', () => {
+    test('load is not restarted on update if only the handler identities change', () => {
+      const originalAbort = ImageLoader.abort;
+      ImageLoader.load = jest.fn();
+      ImageLoader.abort = jest.fn();
+      const firstStubs = {
+        onLoad: jest.fn(),
+        onLoadEnd: jest.fn(),
+        onLoadStart: jest.fn()
+      };
+      const secondStubs = {
+        onLoad: jest.fn(),
+        onLoadEnd: jest.fn(),
+        onLoadStart: jest.fn()
+      };
+      const { rerender } = render(
+        <Image {...firstStubs} source={'https://test.com/img.jpg'} />
+      );
+      act(() => {
+        rerender(
+          <Image {...secondStubs} source={'https://test.com/img.jpg'} />
+        );
+      });
+      expect(ImageLoader.load.mock.calls.length).toBe(1);
+      expect(ImageLoader.abort).not.toHaveBeenCalled();
+      expect(firstStubs.onLoadStart.mock.calls.length).toBe(1);
+      expect(secondStubs.onLoadStart).not.toHaveBeenCalled();
+      ImageLoader.abort = originalAbort;
+      ImageLoader.load = jest.fn().mockImplementation((_, onLoad, onError) => {
+        onLoad();
+      });
+    });
+
+    test('most recent handlers are called when a load settles after an update', () => {
+      let resolveLoad;
+      ImageLoader.load = jest.fn().mockImplementation((_, onLoad, onError) => {
+        resolveLoad = onLoad;
+      });
+      const firstStubs = {
+        onLoad: jest.fn(),
+        onLoadEnd: jest.fn(),
+        onLoadStart: jest.fn()
+      };
+      const secondStubs = {
+        onLoad: jest.fn(),
+        onLoadEnd: jest.fn(),
+        onLoadStart: jest.fn()
+      };
+      const { rerender } = render(
+        <Image {...firstStubs} source={'https://test.com/img.jpg'} />
+      );
+      act(() => {
+        rerender(
+          <Image {...secondStubs} source={'https://test.com/img.jpg'} />
+        );
+      });
+      act(() => {
+        resolveLoad();
+      });
+      expect(firstStubs.onLoad).not.toHaveBeenCalled();
+      expect(secondStubs.onLoad.mock.calls.length).toBe(1);
+      expect(secondStubs.onLoadEnd.mock.calls.length).toBe(1);
+      ImageLoader.load = jest.fn().mockImplementation((_, onLoad, onError) => {
+        onLoad();
+      });
+    });
+  });
 });
diff --git a/packages/react-native-web/src/exports/Image/index.js b/packages/react-native-web/src/exports/Image/index.js
index f99faa7ec3..88f429e385 100644
--- a/packages/react-native-web/src/exports/Image/index.js
+++ b/packages/react-native-web/src/exports/Image/index.js
@@ -274,12 +274,28 @@ const Image: React.AbstractComponent<
   }
 
   // Image loading
+  // The load event handlers are read through a ref so that changes to their
+  // identity (e.g., inline functions re-created by a parent render) do not
+  // re-run the effect, which would abort the in-flight request, reset the
+  // state to LOADING, and call 'onLoadStart' again for the same uri. The
+  // handlers invoked are always the ones from the most recent render.
+  const loadEventHandlersRef = React.useRef({
+    onError,
+    onLoad,
+    onLoadEnd,
+    onLoadStart
+  });
+  React.useEffect(() => {
+    loadEventHandlersRef.current = { onError, onLoad, onLoadEnd, onLoadStart };
+  });
+
   const uri = resolveAssetUri(source);
   React.useEffect(() => {
     abortPendingRequest();
 
     if (uri != null) {
       updateState(LOADING);
+      const { onLoadStart } = loadEventHandlersRef.current;
       if (onLoadStart) {
         onLoadStart();
       }
@@ -288,6 +304,7 @@ const Image: React.AbstractComponent<
         uri,
         function load(e) {
           updateState(LOADED);
+          const { onLoad, onLoadEnd } = loadEventHandlersRef.current;
           if (onLoad) {
             onLoad(e);
           }
@@ -297,6 +314,7 @@ const Image: React.AbstractComponent<
         },
         function error() {
           updateState(ERRORED);
+          const { onError, onLoadEnd } = loadEventHandlersRef.current;
           if (onError) {
             onError({
               nativeEvent: {
@@ -319,7 +337,7 @@ const Image: React.AbstractComponent<
     }
 
     return abortPendingRequest;
-  }, [uri, requestRef, updateState, onError, onLoad, onLoadEnd, onLoadStart]);
+  }, [uri, requestRef, updateState]);
 
   return (
     <View