diff --git a/crates/rspack_plugin_javascript/src/parser_plugin/common_js_imports_parse_plugin.rs b/crates/rspack_plugin_javascript/src/parser_plugin/common_js_imports_parse_plugin.rs
index 75199a68b0c..390e734c0de 100644
--- a/crates/rspack_plugin_javascript/src/parser_plugin/common_js_imports_parse_plugin.rs
+++ b/crates/rspack_plugin_javascript/src/parser_plugin/common_js_imports_parse_plugin.rs
@@ -20,12 +20,13 @@ use crate::visitors::{extract_require_call_info, is_require_call_start};
 fn create_commonjs_require_context_dependency(
   parser: &mut JavascriptParser,
   param: &BasicEvaluatedExpression,
+  expr: &Expr,
   callee_start: u32,
   callee_end: u32,
   args_end: u32,
   span: Option<ErrorSpan>,
 ) -> CommonJsRequireContextDependency {
-  let result = create_context_dependency(param, parser);
+  let result = create_context_dependency(param, expr, parser);
   let options = ContextOptions {
     mode: ContextMode::Sync,
     recursive: true,
@@ -137,14 +138,13 @@ impl CommonJsImportsParserPlugin {
     let dep = create_commonjs_require_context_dependency(
       parser,
       param,
+      argument_expr,
       call_expr.callee.span().real_lo(),
       call_expr.callee.span().real_hi(),
       call_expr.span.real_hi(),
       Some(call_expr.span.into()),
     );
     parser.dependencies.push(Box::new(dep));
-    // FIXME: align `parser.walk_expression` to webpack, which put into `context_dependency_helper`
-    parser.walk_expression(argument_expr);
     Some(true)
   }
 
diff --git a/crates/rspack_plugin_javascript/src/parser_plugin/import_parser_plugin.rs b/crates/rspack_plugin_javascript/src/parser_plugin/import_parser_plugin.rs
index c0887b84ffb..fce8c2d1e85 100644
--- a/crates/rspack_plugin_javascript/src/parser_plugin/import_parser_plugin.rs
+++ b/crates/rspack_plugin_javascript/src/parser_plugin/import_parser_plugin.rs
@@ -113,7 +113,7 @@ impl JavascriptParserPlugin for ImportParserPlugin {
         query,
         fragment,
         replaces,
-      } = create_context_dependency(&param, parser);
+      } = create_context_dependency(&param, &dyn_imported.expr, parser);
       parser
         .dependencies
         .push(Box::new(ImportContextDependency::new(
@@ -146,8 +146,6 @@ impl JavascriptParserPlugin for ImportParserPlugin {
           Some(node.span.into()),
           parser.in_try,
         )));
-      // FIXME: align `parser.walk_expression` to webpack, which put into `context_dependency_helper`
-      parser.walk_expression(&dyn_imported.expr);
       Some(true)
     }
   }
diff --git a/crates/rspack_plugin_javascript/src/visitors/dependency/context_dependency_helper.rs b/crates/rspack_plugin_javascript/src/visitors/dependency/context_dependency_helper.rs
index ab1d90d5aeb..78cbab833f2 100644
--- a/crates/rspack_plugin_javascript/src/visitors/dependency/context_dependency_helper.rs
+++ b/crates/rspack_plugin_javascript/src/visitors/dependency/context_dependency_helper.rs
@@ -1,9 +1,15 @@
 use std::borrow::Cow;
 
+use itertools::Either;
 use itertools::Itertools;
 use rspack_core::parse_resource;
+use rspack_core::SpanExt;
 use rspack_error::Severity;
 use rspack_util::json_stringify;
+use swc_core::common::Spanned;
+use swc_core::ecma::ast::Expr;
+use swc_core::ecma::visit::Visit;
+use swc_core::ecma::visit::VisitWith;
 
 use super::context_helper::{quote_meta, split_context_from_prefix};
 use super::{create_traceable_error, ContextModuleScanResult};
@@ -14,6 +20,7 @@ const DEFAULT_WRAPPED_CONTEXT_REGEXP: &str = ".*";
 
 pub fn create_context_dependency(
   param: &BasicEvaluatedExpression,
+  expr: &Expr,
   parser: &mut crate::visitors::JavascriptParser,
 ) -> ContextModuleScanResult {
   if param.is_template_string() {
@@ -51,34 +58,49 @@ pub fn create_context_dependency(
     );
 
     let mut replaces = Vec::new();
-    let parts = param.parts();
-    for (i, part) in parts.iter().enumerate() {
-      if i % 2 == 0 {
-        if i == 0 {
-          let value = format!(
-            "{}{prefix}",
-            match param.template_string_kind() {
-              TemplateStringKind::Cooked => "`",
-              TemplateStringKind::Raw => "String.raw`",
-            }
-          );
-          replaces.push((value, param.range().0, part.range().1));
-        } else if i == parts.len() - 1 {
-          let value = format!("{postfix}`");
-          replaces.push((value, part.range().0, param.range().1));
-        } else {
-          let value = match param.template_string_kind() {
-            TemplateStringKind::Cooked => {
-              json_stringify(part.string()).trim_matches('"').to_owned()
-            }
-            TemplateStringKind::Raw => part.string().to_owned(),
-          };
-          let range = part.range();
-          replaces.push((value, range.0, range.1));
-        }
+    let (even_parts, odd_parts): (Vec<_>, Vec<_>) =
+      param
+        .parts()
+        .iter()
+        .enumerate()
+        .partition_map(|(index, part)| {
+          if index % 2 == 0 {
+            Either::Left(part)
+          } else {
+            Either::Right(part)
+          }
+        });
+    let last_index = even_parts.len() - 1;
+
+    for (i, part) in even_parts.into_iter().enumerate() {
+      if i == 0 {
+        let value = format!(
+          "{}{prefix}",
+          match param.template_string_kind() {
+            TemplateStringKind::Cooked => "`",
+            TemplateStringKind::Raw => "String.raw`",
+          }
+        );
+        replaces.push((value, param.range().0, part.range().1));
+      } else if i == last_index {
+        let value = format!("{postfix}`");
+        replaces.push((value, part.range().0, param.range().1));
+      } else {
+        let value = match param.template_string_kind() {
+          TemplateStringKind::Cooked => json_stringify(part.string()).trim_matches('"').to_owned(),
+          TemplateStringKind::Raw => part.string().to_owned(),
+        };
+        let range = part.range();
+        replaces.push((value, range.0, range.1));
       }
     }
 
+    let mut walker = BasicEvaluatedExpressionVisitor {
+      targets: odd_parts,
+      on_visit: |n| parser.walk_expression(n),
+    };
+    expr.visit_with(&mut walker);
+
     if parser.javascript_options.wrapped_context_critical {
       let range = param.range();
       parser.warning_diagnostics.push(Box::new(
@@ -160,6 +182,14 @@ pub fn create_context_dependency(
       ));
     }
 
+    if let Some(wrapped_inner_expressions) = param.wrapped_inner_expressions() {
+      let mut walker = BasicEvaluatedExpressionVisitor {
+        targets: wrapped_inner_expressions.iter().collect_vec(),
+        on_visit: |n| parser.walk_expression(n),
+      };
+      expr.visit_with(&mut walker);
+    }
+
     ContextModuleScanResult {
       context,
       reg,
@@ -167,7 +197,6 @@ pub fn create_context_dependency(
       fragment,
       replaces,
     }
-    // TODO: handle `param.wrappedInnerExpressions`
   } else {
     if parser.javascript_options.expr_context_critical {
       let range = param.range();
@@ -181,6 +210,7 @@ pub fn create_context_dependency(
         .with_severity(Severity::Warn),
       ));
     }
+    parser.walk_expression(expr);
     ContextModuleScanResult {
       context: String::from("."),
       reg: String::new(),
@@ -190,3 +220,23 @@ pub fn create_context_dependency(
     }
   }
 }
+
+struct BasicEvaluatedExpressionVisitor<'a, F: FnMut(&Expr)> {
+  targets: Vec<&'a BasicEvaluatedExpression>,
+  on_visit: F,
+}
+
+impl<'a, F: FnMut(&Expr)> Visit for BasicEvaluatedExpressionVisitor<'a, F> {
+  fn visit_expr(&mut self, n: &Expr) {
+    self.targets.retain(|evaluated_expr| {
+      let span = n.span();
+      let (lo, hi) = evaluated_expr.range();
+      if span.real_lo() == lo && span.hi().0 == hi {
+        (self.on_visit)(n);
+        return false;
+      }
+      true
+    });
+    n.visit_children_with(self);
+  }
+}
diff --git a/packages/rspack-test-tools/tests/builtinCases/rspack/dynamic-import/__snapshots__/output.snap.txt b/packages/rspack-test-tools/tests/builtinCases/rspack/dynamic-import/__snapshots__/output.snap.txt
index 1b1817fba1d..c8b815a0dfc 100644
--- a/packages/rspack-test-tools/tests/builtinCases/rspack/dynamic-import/__snapshots__/output.snap.txt
+++ b/packages/rspack-test-tools/tests/builtinCases/rspack/dynamic-import/__snapshots__/output.snap.txt
@@ -71,6 +71,9 @@ __webpack_require__.e(/* import() */ "child_b_js").then(__webpack_require__.bind
 __webpack_require__("./child lazy recursive ^\\.\\/.*\\.js$")(`./${request}.js`).then(({ a }) =>
 	console.log("context_module_tpl", a)
 );
+__webpack_require__.e(/* import() */ "child_a_js").then(__webpack_require__.bind(__webpack_require__, "./child/a.js")).then(({ a }) =>
+	console.log("context_module_tpl_with_cond", a)
+);
 __webpack_require__("./child lazy recursive ^\\.\\/.*\\.js$")("./" + request + ".js").then(({ a }) =>
 	console.log("context_module_bin", a)
 );
@@ -78,7 +81,6 @@ __webpack_require__("./child lazy recursive ^\\.\\/.*\\.js$")("./".concat(reques
 	console.log("context_module_concat", a)
 );
 
-
 }),
 
 },function(__webpack_require__) {
diff --git a/packages/rspack-test-tools/tests/builtinCases/rspack/dynamic-import/index.js b/packages/rspack-test-tools/tests/builtinCases/rspack/dynamic-import/index.js
index 553b27b29c7..d6e0cdcd5a1 100644
--- a/packages/rspack-test-tools/tests/builtinCases/rspack/dynamic-import/index.js
+++ b/packages/rspack-test-tools/tests/builtinCases/rspack/dynamic-import/index.js
@@ -4,9 +4,12 @@ import(`./child/b.js`).then(({ b }) => console.log("Template Literal", b));
 import(`./child/${request}.js`).then(({ a }) =>
 	console.log("context_module_tpl", a)
 );
+import(`./child/${true ? "a" : "b"}.js`).then(({ a }) =>
+	console.log("context_module_tpl_with_cond", a)
+);
 import("./child/" + request + ".js").then(({ a }) =>
 	console.log("context_module_bin", a)
 );
 import("./child/".concat(request, ".js")).then(({ a }) =>
 	console.log("context_module_concat", a)
-);
+);
\ No newline at end of file