diff --git a/profiling/build.rs b/profiling/build.rs
index ea22fd0fcb..66c6b63266 100644
--- a/profiling/build.rs
+++ b/profiling/build.rs
@@ -358,7 +358,7 @@ fn cfg_php_feature_flags(vernum: u64) {
     if vernum >= 80400 {
         println!("cargo:rustc-cfg=php_frameless");
         println!("cargo:rustc-cfg=php_opcache_restart_hook");
-        println!("cargo:rustc-cfg=php_new_zendmm_hooks");
+        println!("cargo:rustc-cfg=php_zend_mm_set_custom_handlers_ex");
     }
 }
 
diff --git a/profiling/src/allocation/allocation_ge84.rs b/profiling/src/allocation/allocation_ge84.rs
index 6a8dafda87..c3fb11ae52 100644
--- a/profiling/src/allocation/allocation_ge84.rs
+++ b/profiling/src/allocation/allocation_ge84.rs
@@ -87,12 +87,24 @@ macro_rules! tls_zend_mm_state {
     };
 }
 
-pub fn alloc_prof_rinit() {
+#[allow(dead_code)]
+pub fn alloc_prof_minit() {
+    #[cfg(not(php_zts))]
+    alloc_prof_ginit();
+}
+
+#[allow(dead_code)]
+pub fn alloc_prof_mshutdown() {
+    #[cfg(not(php_zts))]
+    alloc_prof_gshutdown();
+}
+
+pub fn alloc_prof_ginit() {
     ZEND_MM_STATE.with(|cell| {
         let zend_mm_state = cell.get();
 
         // Only need to create an observed heap once per thread. When we have it, we can just
-        // install the observed hook via `zend::zend_mm_set_heap()`
+        // install the observed heap via `zend::zend_mm_set_heap()`
         if unsafe { (*zend_mm_state).heap.is_null() } {
             // Safety: `zend_mm_get_heap()` always returns a non-null pointer to a valid heap structure
             let prev_heap = unsafe { zend::zend_mm_get_heap() };
@@ -130,7 +142,7 @@ pub fn alloc_prof_rinit() {
                 }
             }
 
-            // Create our observed heap and prepare custom handlers
+            // Create a new (to be observed) heap and prepare custom handlers
             let heap = unsafe { zend::zend_mm_startup() };
             unsafe { ptr::addr_of_mut!((*zend_mm_state).heap).write(heap) };
 
@@ -145,10 +157,55 @@ pub fn alloc_prof_rinit() {
                     Some(alloc_prof_shutdown),
                 );
             }
+            debug!("New observed heap created");
         }
+    });
+}
 
-        // install the observed heap into ZendMM
+pub fn alloc_prof_gshutdown() {
+    ZEND_MM_STATE.with(|cell| {
+        let zend_mm_state = cell.get();
+        unsafe {
+            // remove custom handlers to allow for ZendMM internal shutdown
+            zend::zend_mm_set_custom_handlers_ex(
+                (*zend_mm_state).heap,
+                None,
+                None,
+                None,
+                None,
+                None,
+            );
+
+            // reset to defaults
+            ptr::addr_of_mut!((*zend_mm_state).alloc).write(alloc_prof_orig_alloc);
+            ptr::addr_of_mut!((*zend_mm_state).free).write(alloc_prof_orig_free);
+            ptr::addr_of_mut!((*zend_mm_state).realloc).write(alloc_prof_orig_realloc);
+            ptr::addr_of_mut!((*zend_mm_state).gc).write(alloc_prof_orig_gc);
+            ptr::addr_of_mut!((*zend_mm_state).shutdown).write(alloc_prof_orig_shutdown);
+            ptr::addr_of_mut!((*zend_mm_state).prev_custom_mm_alloc).write(None);
+            ptr::addr_of_mut!((*zend_mm_state).prev_custom_mm_free).write(None);
+            ptr::addr_of_mut!((*zend_mm_state).prev_custom_mm_realloc).write(None);
+            ptr::addr_of_mut!((*zend_mm_state).prev_custom_mm_gc).write(None);
+            ptr::addr_of_mut!((*zend_mm_state).prev_custom_mm_shutdown).write(None);
+
+            // This shutdown will free the observed heap we created in minit
+            zend::zend_mm_shutdown((*zend_mm_state).heap, true, true);
+
+            ptr::addr_of_mut!((*zend_mm_state).heap).write(ptr::null_mut());
+            ptr::addr_of_mut!((*zend_mm_state).prev_heap).write(ptr::null_mut());
+
+            debug!("Observed heap was freed and `zend_mm_state` reset");
+        }
+    });
+}
+
+pub fn alloc_prof_rinit() {
+    ZEND_MM_STATE.with(|cell| {
+        let zend_mm_state = cell.get();
+        // Safety: `zend_mm_state.heap` got initialized in `MINIT` and is guaranteed to
+        // be a non null pointer to a valid `zend::zend_mm_heap` struct
         unsafe {
+            // Install our observed heap into ZendMM
             zend::zend_mm_set_heap((*zend_mm_state).heap);
         }
     });
@@ -181,7 +238,7 @@ pub fn alloc_prof_rshutdown() {
         let mut custom_mm_gc: Option<zend::VmMmCustomGcFn> = None;
         let mut custom_mm_shutdown: Option<zend::VmMmCustomShutdownFn> = None;
 
-        // Safety: `unwrap()` is safe here, as `heap` is initialized in `RINIT`
+        // Safety: `unwrap()` is safe here, as `heap` is initialized in `MINIT`
         let heap = unsafe { (*zend_mm_state).heap };
         unsafe {
             zend::zend_mm_get_custom_handlers_ex(
diff --git a/profiling/src/allocation/mod.rs b/profiling/src/allocation/mod.rs
index f7303d112d..9980db0adf 100644
--- a/profiling/src/allocation/mod.rs
+++ b/profiling/src/allocation/mod.rs
@@ -8,9 +8,9 @@ use rand_distr::{Distribution, Poisson};
 use std::cell::RefCell;
 use std::sync::atomic::AtomicU64;
 
-#[cfg(php_new_zendmm_hooks)]
+#[cfg(php_zend_mm_set_custom_handlers_ex)]
 mod allocation_ge84;
-#[cfg(not(php_new_zendmm_hooks))]
+#[cfg(not(php_zend_mm_set_custom_handlers_ex))]
 pub mod allocation_le83;
 
 /// take a sample every 4096 KiB
@@ -78,12 +78,35 @@ thread_local! {
 }
 
 pub fn alloc_prof_minit() {
-    #[cfg(not(php_new_zendmm_hooks))]
+    #[cfg(not(php_zend_mm_set_custom_handlers_ex))]
     allocation_le83::alloc_prof_minit();
+    #[cfg(php_zend_mm_set_custom_handlers_ex)]
+    allocation_ge84::alloc_prof_minit();
 }
 
+#[allow(dead_code)]
+pub fn alloc_prof_mshutdown() {
+    #[cfg(php_zend_mm_set_custom_handlers_ex)]
+    allocation_ge84::alloc_prof_mshutdown();
+}
+
+#[allow(dead_code)]
+#[cfg(php_zts)]
+pub fn alloc_prof_ginit() {
+    #[cfg(php_zend_mm_set_custom_handlers_ex)]
+    allocation_ge84::alloc_prof_ginit();
+}
+
+#[allow(dead_code)]
+#[cfg(php_zts)]
+pub fn alloc_prof_gshutdown() {
+    #[cfg(php_zend_mm_set_custom_handlers_ex)]
+    allocation_ge84::alloc_prof_gshutdown();
+}
+
+#[allow(dead_code)]
 pub fn alloc_prof_startup() {
-    #[cfg(not(php_new_zendmm_hooks))]
+    #[cfg(not(php_zend_mm_set_custom_handlers_ex))]
     allocation_le83::alloc_prof_startup();
 }
 
@@ -105,9 +128,9 @@ pub fn alloc_prof_rinit() {
         return;
     }
 
-    #[cfg(not(php_new_zendmm_hooks))]
+    #[cfg(not(php_zend_mm_set_custom_handlers_ex))]
     allocation_le83::alloc_prof_rinit();
-    #[cfg(php_new_zendmm_hooks)]
+    #[cfg(php_zend_mm_set_custom_handlers_ex)]
     allocation_ge84::alloc_prof_rinit();
 
     trace!("Memory allocation profiling enabled.")
@@ -124,8 +147,8 @@ pub fn alloc_prof_rshutdown() {
         return;
     }
 
-    #[cfg(not(php_new_zendmm_hooks))]
+    #[cfg(not(php_zend_mm_set_custom_handlers_ex))]
     allocation_le83::alloc_prof_rshutdown();
-    #[cfg(php_new_zendmm_hooks)]
+    #[cfg(php_zend_mm_set_custom_handlers_ex)]
     allocation_ge84::alloc_prof_rshutdown();
 }
diff --git a/profiling/src/bindings/mod.rs b/profiling/src/bindings/mod.rs
index bfb178a1af..77cd127071 100644
--- a/profiling/src/bindings/mod.rs
+++ b/profiling/src/bindings/mod.rs
@@ -46,9 +46,9 @@ pub type VmMmCustomAllocFn = unsafe extern "C" fn(size_t) -> *mut c_void;
 pub type VmMmCustomReallocFn = unsafe extern "C" fn(*mut c_void, size_t) -> *mut c_void;
 #[cfg(feature = "allocation_profiling")]
 pub type VmMmCustomFreeFn = unsafe extern "C" fn(*mut c_void);
-#[cfg(all(feature = "allocation_profiling", php_new_zendmm_hooks))]
+#[cfg(all(feature = "allocation_profiling", php_zend_mm_set_custom_handlers_ex))]
 pub type VmMmCustomGcFn = unsafe extern "C" fn() -> size_t;
-#[cfg(all(feature = "allocation_profiling", php_new_zendmm_hooks))]
+#[cfg(all(feature = "allocation_profiling", php_zend_mm_set_custom_handlers_ex))]
 pub type VmMmCustomShutdownFn = unsafe extern "C" fn(bool, bool);
 
 // todo: this a lie on some PHP versions; is it a problem even though zend_bool
diff --git a/profiling/src/config.rs b/profiling/src/config.rs
index b84650fbb2..c21185e838 100644
--- a/profiling/src/config.rs
+++ b/profiling/src/config.rs
@@ -1,4 +1,4 @@
-#[cfg(not(php_new_zendmm_hooks))]
+#[cfg(not(php_zend_mm_set_custom_handlers_ex))]
 use crate::allocation;
 use crate::bindings::zai_config_type::*;
 use crate::bindings::{
@@ -102,7 +102,7 @@ impl SystemSettings {
         }
 
         // Work around version-specific issues.
-        #[cfg(not(php_new_zendmm_hooks))]
+        #[cfg(not(php_zend_mm_set_custom_handlers_ex))]
         if allocation::allocation_le83::first_rinit_should_disable_due_to_jit() {
             system_settings.profiling_allocation_enabled = false;
         }
diff --git a/profiling/src/lib.rs b/profiling/src/lib.rs
index 3b3db288a0..e15efb26b1 100644
--- a/profiling/src/lib.rs
+++ b/profiling/src/lib.rs
@@ -203,12 +203,18 @@ pub extern "C" fn get_module() -> &'static mut zend::ModuleEntry {
 unsafe extern "C" fn ginit(_globals_ptr: *mut c_void) {
     #[cfg(all(feature = "timeline", php_zts))]
     timeline::timeline_ginit();
+
+    #[cfg(feature = "allocation_profiling")]
+    allocation::alloc_prof_ginit();
 }
 
 #[cfg(php_zts)]
 unsafe extern "C" fn gshutdown(_globals_ptr: *mut c_void) {
     #[cfg(all(feature = "timeline", php_zts))]
     timeline::timeline_gshutdown();
+
+    #[cfg(feature = "allocation_profiling")]
+    allocation::alloc_prof_gshutdown();
 }
 
 /* Important note on the PHP lifecycle:
@@ -337,15 +343,15 @@ extern "C" fn minit(_type: c_int, module_number: c_int) -> ZendResult {
      */
     unsafe { zend::zend_register_extension(&extension, handle) };
 
-    #[cfg(feature = "allocation_profiling")]
-    allocation::alloc_prof_minit();
-
     #[cfg(feature = "timeline")]
     timeline::timeline_minit();
 
     #[cfg(feature = "exception_profiling")]
     exception::exception_profiling_minit();
 
+    #[cfg(feature = "allocation_profiling")]
+    allocation::alloc_prof_minit();
+
     // There are a few things which need to do something on the first rinit of
     // each minit/mshutdown cycle. In Apache, when doing `apachectl graceful`,
     // there can be more than one of these cycles per process.
@@ -851,6 +857,9 @@ extern "C" fn mshutdown(_type: c_int, _module_number: c_int) -> ZendResult {
     #[cfg(feature = "exception_profiling")]
     exception::exception_profiling_mshutdown();
 
+    #[cfg(feature = "allocation_profiling")]
+    allocation::alloc_prof_mshutdown();
+
     Profiler::stop(Duration::from_secs(1));
 
     ZendResult::Success