diff --git a/packages/compiler-cli/src/ngtsc/annotations/component/src/handler.ts b/packages/compiler-cli/src/ngtsc/annotations/component/src/handler.ts
index 75937df6ccf68..6bc6a64f257ef 100644
--- a/packages/compiler-cli/src/ngtsc/annotations/component/src/handler.ts
+++ b/packages/compiler-cli/src/ngtsc/annotations/component/src/handler.ts
@@ -12,8 +12,7 @@ import ts from 'typescript';
 import {Cycle, CycleAnalyzer, CycleHandlingStrategy} from '../../../cycles';
 import {ErrorCode, FatalDiagnosticError, makeDiagnostic, makeRelatedInformation} from '../../../diagnostics';
 import {absoluteFrom, relative} from '../../../file_system';
-import {assertSuccessfulReferenceEmit, ImportedFile, ModuleResolver, Reference, ReferenceEmitter} from '../../../imports';
-import {DeferredSymbolTracker} from '../../../imports/src/deferred_symbol_tracker';
+import {assertSuccessfulReferenceEmit, DeferredSymbolTracker, ImportedFile, ModuleResolver, Reference, ReferenceEmitter} from '../../../imports';
 import {DependencyTracker} from '../../../incremental/api';
 import {extractSemanticTypeParameters, SemanticDepGraphUpdater} from '../../../incremental/semantic_graph';
 import {IndexingContext} from '../../../indexer';
@@ -987,13 +986,15 @@ export class ComponentDecoratorHandler implements
     // the `isDeferrable` flag and the `importPath` to reflect the current
     // state after visiting all components during the `resolve` phase.
     for (const [_, deferBlockDeps] of resolution.deferBlocks) {
-      for (const dep of deferBlockDeps) {
-        const classDecl =
-            (dep as unknown as {classDeclaration: ts.ClassDeclaration}).classDeclaration;
-        const importDecl = resolution.deferrableDeclToImportDecl.get(classDecl) ?? null;
+      for (const deferBlockDep of deferBlockDeps) {
+        const dep = deferBlockDep as unknown as {classDeclaration: ts.ClassDeclaration};
+        const classDecl = dep.classDeclaration as unknown as Expression;
+        const importDecl = resolution.deferrableDeclToImportDecl.get(classDecl) as unknown as
+                ts.ImportDeclaration ??
+            null;
         if (importDecl && this.deferredSymbolTracker.canDefer(importDecl)) {
-          dep.isDeferrable = true;
-          dep.importPath = importDecl.moduleSpecifier.text;
+          deferBlockDep.isDeferrable = true;
+          deferBlockDep.importPath = (importDecl.moduleSpecifier as ts.StringLiteral).text;
         }
       }
     }
@@ -1128,7 +1129,7 @@ export class ComponentDecoratorHandler implements
       resolutionData.deferBlocks.set(deferBlock, deps);
     }
 
-    // For standalone components with the `imports` field - inspect teh list of
+    // For standalone components with the `imports` field - inspect the list of
     // referenced symbols and mark the ones used in defer blocks as potential candidates
     // for defer loading.
     if (analysisData.meta.isStandalone && analysisData.rawImports !== null &&
@@ -1186,7 +1187,8 @@ export class ComponentDecoratorHandler implements
 
         // Keep track of how this class made it into the current source file
         // (which ts.ImportDeclaration was used for this symbol).
-        resolutionData.deferrableDeclToImportDecl.set(decl.node, imp.node);
+        resolutionData.deferrableDeclToImportDecl.set(
+            decl.node as unknown as Expression, imp.node as unknown as Expression);
 
         // We're okay deferring this reference to the imported symbol.
         this.deferredSymbolTracker.markAsDeferrableCandidate(node, imp.node);
diff --git a/packages/compiler-cli/test/ngtsc/ngtsc_spec.ts b/packages/compiler-cli/test/ngtsc/ngtsc_spec.ts
index 57463b0a37430..abe03b0d0dfc0 100644
--- a/packages/compiler-cli/test/ngtsc/ngtsc_spec.ts
+++ b/packages/compiler-cli/test/ngtsc/ngtsc_spec.ts
@@ -8872,23 +8872,52 @@ function allTests(os: string) {
       });
     });
 
-    // TODO: replace with tests for `defer`.
-    // TODO: maybe put deferred tests in a separate file?
     describe('deferred blocks', () => {
       it('should not error for deferred blocks', () => {
         env.tsconfig({_enabledBlockTypes: ['defer']});
+        env.write('cmp-a.ts', `
+          import {Component} from '@angular/core';
+
+          @Component({
+            standalone: true,
+            selector: 'cmp-a',
+            template: 'CmpA!'
+          })
+          export class CmpA {}
+        `);
+
         env.write('/test.ts', `
           import {Component} from '@angular/core';
+          import {CmpA} from './cmp-a';
+
+          @Component({
+            selector: 'local-dep',
+            standalone: true,
+            template: 'Local dependency',
+          })
+          export class LocalDep {}
 
           @Component({
             selector: 'test-cmp',
-            template: '{#defer}hello{/defer}',
+            standalone: true,
+            imports: [CmpA, LocalDep],
+            template: \`
+              {#defer}
+                <cmp-a />
+                <local-dep />
+              {/defer}
+            \`,
           })
           export class TestCmp {}
-      `);
+        `);
 
-        const diags = env.driveDiagnostics();
-        expect(diags.length).toBe(0);
+        env.driveMain();
+
+        const jsContents = env.getContents('test.js');
+        expect(jsContents).toContain('ɵɵdefer(0, TestCmp_Defer_0_DepsFn)');
+        expect(jsContents)
+            .toContain(
+                'function TestCmp_Defer_0_DepsFn() { return [import("./cmp-a").then(function (m) { return m.CmpA; }), LocalDep]; }');
       });
     });
   });
diff --git a/packages/compiler/src/render3/r3_identifiers.ts b/packages/compiler/src/render3/r3_identifiers.ts
index 6ed21604cfb0a..6a3565787ba10 100644
--- a/packages/compiler/src/render3/r3_identifiers.ts
+++ b/packages/compiler/src/render3/r3_identifiers.ts
@@ -139,6 +139,8 @@ export class Identifiers {
 
   static templateCreate: o.ExternalReference = {name: 'ɵɵtemplate', moduleName: CORE};
 
+  static defer: o.ExternalReference = {name: 'ɵɵdefer', moduleName: CORE};
+
   static text: o.ExternalReference = {name: 'ɵɵtext', moduleName: CORE};
 
   static enableBindings: o.ExternalReference = {name: 'ɵɵenableBindings', moduleName: CORE};
diff --git a/packages/compiler/src/render3/view/api.ts b/packages/compiler/src/render3/view/api.ts
index d65e28fbe72ad..d44a1c52ff091 100644
--- a/packages/compiler/src/render3/view/api.ts
+++ b/packages/compiler/src/render3/view/api.ts
@@ -218,11 +218,11 @@ export interface R3ComponentMetadata<DeclarationT extends R3TemplateDependency>
   declarations: DeclarationT[];
 
   /**
-   * Map of all types that can be defer loaded -> corresponding module specifier
-   * strings (that can later be used as a value in dynamic imports).
+   * Map of all types that can be defer loaded (ts.ClassDeclaration) ->
+   * corresponding import declaration (ts.ImportDeclaration) within
+   * the current source file.
    */
-  // TODO: fix types! (ClassDeclaration -> ImportDeclaration)
-  deferrableDeclToImportDecl: Map<any, any>;
+  deferrableDeclToImportDecl: Map<o.Expression, o.Expression>;
 
   /**
    * Map of {#defer} blocks -> their corresponding dependencies.
diff --git a/packages/compiler/src/render3/view/compiler.ts b/packages/compiler/src/render3/view/compiler.ts
index 726dd2ca8f52f..4151b4d3752d5 100644
--- a/packages/compiler/src/render3/view/compiler.ts
+++ b/packages/compiler/src/render3/view/compiler.ts
@@ -194,7 +194,7 @@ export function compileComponentFromMetadata(
     const template = meta.template;
     const templateBuilder = new TemplateDefinitionBuilder(
         constantPool, BindingScope.createRootScope(), 0, templateTypeName, null, null, templateName,
-        R3.namespaceHTML, meta.relativeContextFilePath, meta.i18nUseExternalIds);
+        R3.namespaceHTML, meta.relativeContextFilePath, meta.i18nUseExternalIds, meta.deferBlocks);
 
     const templateFunctionExpression = templateBuilder.buildTemplateFunction(template.nodes, []);
 
diff --git a/packages/compiler/src/render3/view/template.ts b/packages/compiler/src/render3/view/template.ts
index 7cebf020f56d7..4dc9ac88af896 100644
--- a/packages/compiler/src/render3/view/template.ts
+++ b/packages/compiler/src/render3/view/template.ts
@@ -33,6 +33,7 @@ import {Identifiers as R3} from '../r3_identifiers';
 import {htmlAstToRender3Ast} from '../r3_template_transform';
 import {prepareSyntheticListenerFunctionName, prepareSyntheticListenerName, prepareSyntheticPropertyName} from '../util';
 
+import {DeferBlockTemplateDependency} from './api';
 import {I18nContext} from './i18n/context';
 import {createGoogleGetMsgStatements} from './i18n/get_msg_utils';
 import {createLocalizeStatements} from './i18n/localize_utils';
@@ -221,6 +222,7 @@ export class TemplateDefinitionBuilder implements t.Visitor<void>, LocalResolver
       private templateIndex: number|null, private templateName: string|null,
       private _namespace: o.ExternalReference, relativeContextFilePath: string,
       private i18nUseExternalIds: boolean,
+      private deferBlocks: Map<t.DeferredBlock, DeferBlockTemplateDependency[]>,
       private _constants: ComponentDefConsts = createComponentDefConsts()) {
     this._bindingScope = parentBindingScope.nestedScope(level);
 
@@ -923,7 +925,7 @@ export class TemplateDefinitionBuilder implements t.Visitor<void>, LocalResolver
     const templateVisitor = new TemplateDefinitionBuilder(
         this.constantPool, this._bindingScope, this.level + 1, contextName, this.i18n,
         templateIndex, templateName, this._namespace, this.fileBasedI18nSuffix,
-        this.i18nUseExternalIds, this._constants);
+        this.i18nUseExternalIds, this.deferBlocks, this._constants);
 
     // Nested templates must not be visited until after their parent templates have completed
     // processing, so they are queued here until after the initial pass. Otherwise, we wouldn't
@@ -1071,8 +1073,53 @@ export class TemplateDefinitionBuilder implements t.Visitor<void>, LocalResolver
     return null;
   }
 
-  // TODO: implement deferred block instructions.
-  visitDeferredBlock(deferred: t.DeferredBlock): void {}
+  visitDeferredBlock(deferred: t.DeferredBlock): void {
+    const templateIndex = this.allocateDataSlot();
+    const deferredDeps = this.deferBlocks.get(deferred);
+
+    const contextName = `${this.contextName}_Defer_${templateIndex}`;
+    const depsFnName = `${contextName}_DepsFn`;
+
+    const parameters: o.Expression[] = [
+      o.literal(templateIndex),
+      deferredDeps ? o.variable(depsFnName) : o.TYPED_NULL_EXPR,
+    ];
+
+    if (deferredDeps) {
+      // This defer block has deps for which we need to generate dynamic imports.
+      const dependencyExp: o.Expression[] = [];
+      for (const deferredDep of deferredDeps) {
+        if (deferredDep.isDeferrable) {
+          // Callback function, e.g. `function(m) { return m.MyCmp; }`.
+          const innerFn = o.fn(
+              [new o.FnParam('m', o.DYNAMIC_TYPE)],
+              [new o.ReturnStatement(o.variable('m').prop(deferredDep.symbolName))]);
+
+          const fileName = deferredDep.importPath!;
+          // Dynamic import, e.g. `import('./a').then(...)`.
+          const importExpr = (new o.DynamicImportExpr(fileName)).prop('then').callFn([innerFn]);
+          dependencyExp.push(importExpr);
+        } else {
+          // Non-deferrable symbol, just use a reference to the type.
+          dependencyExp.push(deferredDep.type);
+        }
+      }
+
+      const depsFnBody: o.Statement[] = [];
+      depsFnBody.push(new o.ReturnStatement(o.literalArr(dependencyExp)));
+
+      const depsFnExpr = o.fn([] /* args */, depsFnBody, o.INFERRED_TYPE, null, depsFnName);
+
+      this.constantPool.statements.push(depsFnExpr.toDeclStmt(depsFnName));
+    }
+
+    // e.g. `defer(1, MyComp_Defer_1_DepsFn, ...)`
+    this.creationInstruction(deferred.sourceSpan, R3.defer, () => {
+      return trimTrailingNulls(parameters);
+    });
+  }
+
+  // TODO: implement nested deferred block instructions.
   visitDeferredTrigger(trigger: t.DeferredTrigger): void {}
   visitDeferredBlockPlaceholder(block: t.DeferredBlockPlaceholder): void {}
   visitDeferredBlockError(block: t.DeferredBlockError): void {}
diff --git a/packages/core/src/core_render3_private_export.ts b/packages/core/src/core_render3_private_export.ts
index 3f9a7655128ed..e05c964e0091d 100644
--- a/packages/core/src/core_render3_private_export.ts
+++ b/packages/core/src/core_render3_private_export.ts
@@ -197,6 +197,7 @@ export {
   ɵɵsyntheticHostProperty,
   ɵɵtemplate,
   ɵɵtemplateRefExtractor,
+  ɵɵdefer,
   ɵɵtext,
   ɵɵtextInterpolate,
   ɵɵtextInterpolate1,
diff --git a/packages/core/src/render3/index.ts b/packages/core/src/render3/index.ts
index 9ccf3f1b54117..9bdacff1764f0 100644
--- a/packages/core/src/render3/index.ts
+++ b/packages/core/src/render3/index.ts
@@ -118,6 +118,8 @@ export {
 
   ɵɵtemplate,
 
+  ɵɵdefer,
+
   ɵɵtext,
   ɵɵtextInterpolate,
   ɵɵtextInterpolate1,
diff --git a/packages/core/src/render3/instructions/all.ts b/packages/core/src/render3/instructions/all.ts
index b4d0473008039..f71a8c74fc1f6 100644
--- a/packages/core/src/render3/instructions/all.ts
+++ b/packages/core/src/render3/instructions/all.ts
@@ -50,4 +50,5 @@ export * from './style_map_interpolation';
 export * from './style_prop_interpolation';
 export * from './host_property';
 export * from './i18n';
+export * from './defer';
 export {ɵgetUnknownElementStrictMode, ɵsetUnknownElementStrictMode, ɵgetUnknownPropertyStrictMode, ɵsetUnknownPropertyStrictMode} from './element_validation';
diff --git a/packages/core/src/render3/instructions/defer.ts b/packages/core/src/render3/instructions/defer.ts
new file mode 100644
index 0000000000000..c21e5f983e1dc
--- /dev/null
+++ b/packages/core/src/render3/instructions/defer.ts
@@ -0,0 +1,23 @@
+/**
+ * @license
+ * Copyright Google LLC All Rights Reserved.
+ *
+ * Use of this source code is governed by an MIT-style license that can be
+ * found in the LICENSE file at https://angular.io/license
+ */
+
+import {Type} from '../../interface/type';
+
+export type DeferredDepsFn = () => Array<Promise<Type<unknown>>|Type<unknown>>;
+
+/**
+ * Creates runtime data structures for `{#defer}` blocks.
+ *
+ * @param index The index of the defer block in the data array
+ * @param deferredDepsFn Function that contains dependencies for this defer block
+ *
+ * @codeGenApi
+ */
+export function ɵɵdefer(index: number, deferredDepsFn: DeferredDepsFn|null) {
+  // TODO: implement runtime logic.
+}
diff --git a/packages/core/src/render3/jit/environment.ts b/packages/core/src/render3/jit/environment.ts
index 4458f4fa79b69..b114cf8ccd3ad 100644
--- a/packages/core/src/render3/jit/environment.ts
+++ b/packages/core/src/render3/jit/environment.ts
@@ -138,6 +138,7 @@ export const angularCoreEnv: {[name: string]: Function} =
        'ɵɵclassProp': r3.ɵɵclassProp,
        'ɵɵadvance': r3.ɵɵadvance,
        'ɵɵtemplate': r3.ɵɵtemplate,
+       'ɵɵdefer': r3.ɵɵdefer,
        'ɵɵtext': r3.ɵɵtext,
        'ɵɵtextInterpolate': r3.ɵɵtextInterpolate,
        'ɵɵtextInterpolate1': r3.ɵɵtextInterpolate1,