diff --git a/cli/tests/integration/node_unit_tests.rs b/cli/tests/integration/node_unit_tests.rs
index 2cde515528..7c524eb8be 100644
--- a/cli/tests/integration/node_unit_tests.rs
+++ b/cli/tests/integration/node_unit_tests.rs
@@ -5,6 +5,7 @@ use std::process::Stdio;
 use std::time::Duration;
 use std::time::Instant;
 use test_util as util;
+use util::env_vars_for_npm_tests;
 
 util::unit_test_factory!(
   node_unit_test,
@@ -157,3 +158,20 @@ fn node_unit_test(test: String) {
 
   assert!(status.success());
 }
+
+// Regression test for https://github.com/denoland/deno/issues/16928
+itest!(unhandled_rejection_web {
+  args: "run -A node/unhandled_rejection_web.ts",
+  output: "node/unhandled_rejection_web.ts.out",
+  envs: env_vars_for_npm_tests(),
+  http_server: true,
+});
+
+// Ensure that Web `onunhandledrejection` is fired before
+// Node's `process.on('unhandledRejection')`.
+itest!(unhandled_rejection_web_process {
+  args: "run -A node/unhandled_rejection_web_process.ts",
+  output: "node/unhandled_rejection_web_process.ts.out",
+  envs: env_vars_for_npm_tests(),
+  http_server: true,
+});
diff --git a/cli/tests/testdata/node/unhandled_rejection_web.ts b/cli/tests/testdata/node/unhandled_rejection_web.ts
new file mode 100644
index 0000000000..396c58c2a1
--- /dev/null
+++ b/cli/tests/testdata/node/unhandled_rejection_web.ts
@@ -0,0 +1,17 @@
+import chalk from "npm:chalk";
+
+console.log(chalk.red("Hello world!"));
+
+globalThis.addEventListener("unhandledrejection", (e) => {
+  console.log("Handled the promise rejection");
+  e.preventDefault();
+});
+
+// deno-lint-ignore require-await
+(async () => {
+  throw new Error("boom!");
+})();
+
+setTimeout(() => {
+  console.log("Success");
+}, 1000);
diff --git a/cli/tests/testdata/node/unhandled_rejection_web.ts.out b/cli/tests/testdata/node/unhandled_rejection_web.ts.out
new file mode 100644
index 0000000000..19db7f90e5
--- /dev/null
+++ b/cli/tests/testdata/node/unhandled_rejection_web.ts.out
@@ -0,0 +1,4 @@
+[WILDCARD]
+Hello world!
+Handled the promise rejection
+Success
diff --git a/cli/tests/testdata/node/unhandled_rejection_web_process.ts b/cli/tests/testdata/node/unhandled_rejection_web_process.ts
new file mode 100644
index 0000000000..2aaacfbff7
--- /dev/null
+++ b/cli/tests/testdata/node/unhandled_rejection_web_process.ts
@@ -0,0 +1,21 @@
+import chalk from "npm:chalk";
+import process from "node:process";
+
+console.log(chalk.red("Hello world!"));
+
+process.on("unhandledRejection", (_e) => {
+  console.log('process.on("unhandledRejection");');
+});
+
+globalThis.addEventListener("unhandledrejection", (_e) => {
+  console.log('globalThis.addEventListener("unhandledrejection");');
+});
+
+// deno-lint-ignore require-await
+(async () => {
+  throw new Error("boom!");
+})();
+
+setTimeout(() => {
+  console.log("Success");
+}, 1000);
diff --git a/cli/tests/testdata/node/unhandled_rejection_web_process.ts.out b/cli/tests/testdata/node/unhandled_rejection_web_process.ts.out
new file mode 100644
index 0000000000..ea307474a8
--- /dev/null
+++ b/cli/tests/testdata/node/unhandled_rejection_web_process.ts.out
@@ -0,0 +1,5 @@
+[WILDCARD]
+Hello world!
+globalThis.addEventListener("unhandledrejection");
+process.on("unhandledRejection");
+Success
diff --git a/ext/node/polyfills/process.ts b/ext/node/polyfills/process.ts
index d2f220734f..2dc10d7b15 100644
--- a/ext/node/polyfills/process.ts
+++ b/ext/node/polyfills/process.ts
@@ -716,9 +716,9 @@ internals.__bootstrapNodeProcess = function (
   core.setMacrotaskCallback(runNextTicks);
   enableNextTick();
 
-  // TODO(bartlomieju): this is buggy, see https://github.com/denoland/deno/issues/16928
-  // We should use a specialized API in 99_main.js instead
-  globalThis.addEventListener("unhandledrejection", (event) => {
+  // Install special "unhandledrejection" handler, that will be called
+  // last.
+  internals.nodeProcessUnhandledRejectionCallback = (event) => {
     if (process.listenerCount("unhandledRejection") === 0) {
       // The Node.js default behavior is to raise an uncaught exception if
       // an unhandled rejection occurs and there are no unhandledRejection
@@ -734,7 +734,7 @@ internals.__bootstrapNodeProcess = function (
 
     event.preventDefault();
     process.emit("unhandledRejection", event.reason, event.promise);
-  });
+  };
 
   globalThis.addEventListener("error", (event) => {
     if (process.listenerCount("uncaughtException") > 0) {
diff --git a/runtime/js/99_main.js b/runtime/js/99_main.js
index f0c63df744..91d34272f9 100644
--- a/runtime/js/99_main.js
+++ b/runtime/js/99_main.js
@@ -346,7 +346,8 @@ function promiseRejectCallback(type, promise, reason) {
   }
 
   return !!globalThis_.onunhandledrejection ||
-    event.listenerCount(globalThis_, "unhandledrejection") > 0;
+    event.listenerCount(globalThis_, "unhandledrejection") > 0 ||
+    typeof internals.nodeProcessUnhandledRejectionCallback !== "undefined";
 }
 
 function promiseRejectMacrotaskCallback() {
@@ -383,6 +384,15 @@ function promiseRejectMacrotaskCallback() {
     globalThis_.dispatchEvent(rejectionEvent);
     globalThis_.removeEventListener("error", errorEventCb);
 
+    // If event was not yet prevented, try handing it off to Node compat layer
+    // (if it was initialized)
+    if (
+      !rejectionEvent.defaultPrevented &&
+      typeof internals.nodeProcessUnhandledRejectionCallback !== "undefined"
+    ) {
+      internals.nodeProcessUnhandledRejectionCallback(rejectionEvent);
+    }
+
     // If event was not prevented (or "unhandledrejection" listeners didn't
     // throw) we will let Rust side handle it.
     if (rejectionEvent.defaultPrevented) {