diff --git a/plugins/kotlinx-serialization/kotlinx-serialization.backend/src/org/jetbrains/kotlinx/serialization/compiler/backend/ir/SerializableIrGenerator.kt b/plugins/kotlinx-serialization/kotlinx-serialization.backend/src/org/jetbrains/kotlinx/serialization/compiler/backend/ir/SerializableIrGenerator.kt
index 36c0b96da16..99c0cff7dc8 100644
--- a/plugins/kotlinx-serialization/kotlinx-serialization.backend/src/org/jetbrains/kotlinx/serialization/compiler/backend/ir/SerializableIrGenerator.kt
+++ b/plugins/kotlinx-serialization/kotlinx-serialization.backend/src/org/jetbrains/kotlinx/serialization/compiler/backend/ir/SerializableIrGenerator.kt
@@ -82,7 +82,7 @@ class SerializableIrGenerator(
                     it is IrProperty && it.backingField != null -> {
                         if (it in serialDescs) {
                             current = it
-                        } else if (it.backingField?.initializer != null) {
+                        } else if (it.backingField?.initializer != null && !it.isDelegated) {
                             // skip transient lateinit or deferred properties (with null initializer)
                             val expression = initializerAdapter(it.backingField!!.initializer!!)
 
diff --git a/plugins/kotlinx-serialization/testData/boxIr/delegatedProperty.kt b/plugins/kotlinx-serialization/testData/boxIr/delegatedProperty.kt
new file mode 100644
index 00000000000..7161283c291
--- /dev/null
+++ b/plugins/kotlinx-serialization/testData/boxIr/delegatedProperty.kt
@@ -0,0 +1,109 @@
+// TARGET_BACKEND: JVM_IR
+
+// WITH_STDLIB
+
+import kotlinx.serialization.*
+import kotlinx.serialization.descriptors.*
+import kotlinx.serialization.encoding.*
+import kotlinx.serialization.json.*
+import kotlin.reflect.KProperty
+import kotlin.properties.*
+
+@Serializable
+data class SimpleDTO(
+    val realProp: Int,
+) {
+    @Transient
+    private val additionalProperties: Map<String, Int> = mapOf("delegatedProp" to 123)
+    val delegatedProp: Int? by additionalProperties
+}
+
+// optimized properties must also work
+// https://kotlinlang.org/docs/whatsnew1720.html#more-optimized-cases-of-delegated-properties
+// A named object:
+object NamedObject {
+    operator fun getValue(thisRef: Any?, property: KProperty<*>): String = "test-string"
+}
+
+@Serializable
+data class DelegatedByObjectProperty(
+    val realProp: Int
+) {
+    val delegatedProp: String by NamedObject
+}
+
+// A final val property with a backing field and a default getter in the same module:
+val impl: ReadOnlyProperty<Any?, String> = object : ReadOnlyProperty<Any?, String> {
+    override operator fun getValue(thisRef: Any?, property: KProperty<*>): String = "test-string"
+}
+
+@Serializable
+class DelegatedByFinalVal(
+    val realProp: Int
+) {
+    val delegatedProp: String by impl
+}
+
+// A var property with a backing field and a default getter in the same module:
+var implvar: ReadWriteProperty<Any?, String> = object : ReadWriteProperty<Any?, String> {
+    private var value = "test-string"
+    override operator fun getValue(thisRef: Any?, property: KProperty<*>): String = value
+    override operator fun setValue(
+        thisRef: Any?,
+        property: KProperty<*>,
+        value: String) { this.value = value }
+}
+
+@Serializable
+class DelegatedByVar(
+    val realProp: Int
+) {
+    var delegatedProp: String by implvar
+}
+
+// delegated by this
+@Serializable
+class DelegatedByThis(val realProp: Int) {
+    operator fun getValue(thisRef: Any?, property: KProperty<*>) = "test-string"
+
+    val delegatedProp by this
+}
+
+fun box(): String {
+    val simpleDTO = SimpleDTO(123)
+    val simpleDTOJsonStr = Json.encodeToString(simpleDTO)
+    val simpleDTODecoded = Json.decodeFromString<SimpleDTO>(simpleDTOJsonStr)
+    if (simpleDTOJsonStr != """{"realProp":123}""") return simpleDTOJsonStr
+    if (simpleDTODecoded.delegatedProp != simpleDTO.delegatedProp) return "SimpleDTO Delegate is incorrect!"
+    if (simpleDTODecoded.realProp !== 123) return "SimpleDTO Deserialization failed"
+
+    val objProp = DelegatedByObjectProperty(123)
+    val objPropJsonStr = Json.encodeToString(objProp)
+    val objPropDecoded = Json.decodeFromString<DelegatedByObjectProperty>(objPropJsonStr)
+    if (objPropJsonStr != """{"realProp":123}""") return simpleDTOJsonStr
+    if (objPropDecoded.delegatedProp != objProp.delegatedProp) return "DelegatedByObjectProperty Delegate is incorrect!"
+    if (objPropDecoded.realProp !== 123) return "DelegatedByObjectProperty Deserialization failed"
+
+    val byFinal = DelegatedByFinalVal(123)
+    val byFinalJsonStr = Json.encodeToString(byFinal)
+    val byFinalDecoded = Json.decodeFromString<DelegatedByObjectProperty>(byFinalJsonStr)
+    if (byFinalJsonStr != """{"realProp":123}""") return simpleDTOJsonStr
+    if (byFinalDecoded.delegatedProp != byFinal.delegatedProp) return "DelegatedByFinalVal Delegate is incorrect!"
+    if (byFinalDecoded.realProp !== 123) return "DelegatedByFinalVal Deserialization failed"
+
+    val byVar = DelegatedByVar(123)
+    val byVarJsonStr = Json.encodeToString(byVar)
+    val byVarDecoded = Json.decodeFromString<DelegatedByObjectProperty>(byVarJsonStr)
+    if (byVarJsonStr != """{"realProp":123}""") return simpleDTOJsonStr
+    if (byVarDecoded.delegatedProp != byVar.delegatedProp) return "DelegatedByVar Delegate is incorrect!"
+    if (byVarDecoded.realProp !== 123) return "DelegatedByVar Deserialization failed"
+
+    val byThisExp = DelegatedByThis(123)
+    val byThisJsonStr = Json.encodeToString(byThisExp)
+    val byThisDecoded = Json.decodeFromString<DelegatedByObjectProperty>(byThisJsonStr)
+    if (byThisJsonStr != """{"realProp":123}""") return simpleDTOJsonStr
+    if (byThisDecoded.delegatedProp != byThisExp.delegatedProp) return "DelegatedByThis Delegate is incorrect!"
+    if (byThisDecoded.realProp !== 123) return "DelegatedByThis Deserialization failed"
+
+    return "OK"
+}
\ No newline at end of file
diff --git a/plugins/kotlinx-serialization/tests-gen/org/jetbrains/kotlinx/serialization/runners/SerializationFirLightTreeBlackBoxTestGenerated.java b/plugins/kotlinx-serialization/tests-gen/org/jetbrains/kotlinx/serialization/runners/SerializationFirLightTreeBlackBoxTestGenerated.java
index ed7befd0d05..6ec2466bd18 100644
--- a/plugins/kotlinx-serialization/tests-gen/org/jetbrains/kotlinx/serialization/runners/SerializationFirLightTreeBlackBoxTestGenerated.java
+++ b/plugins/kotlinx-serialization/tests-gen/org/jetbrains/kotlinx/serialization/runners/SerializationFirLightTreeBlackBoxTestGenerated.java
@@ -69,6 +69,12 @@ public class SerializationFirLightTreeBlackBoxTestGenerated extends AbstractSeri
             runTest("plugins/kotlinx-serialization/testData/boxIr/delegatedInterface.kt");
         }
 
+        @Test
+        @TestMetadata("delegatedProperty.kt")
+        public void testDelegatedProperty() throws Exception {
+            runTest("plugins/kotlinx-serialization/testData/boxIr/delegatedProperty.kt");
+        }
+
         @Test
         @TestMetadata("enumsAreCached.kt")
         public void testEnumsAreCached() throws Exception {
diff --git a/plugins/kotlinx-serialization/tests-gen/org/jetbrains/kotlinx/serialization/runners/SerializationIrBoxTestGenerated.java b/plugins/kotlinx-serialization/tests-gen/org/jetbrains/kotlinx/serialization/runners/SerializationIrBoxTestGenerated.java
index 9f48ddb9078..0603fc9c26d 100644
--- a/plugins/kotlinx-serialization/tests-gen/org/jetbrains/kotlinx/serialization/runners/SerializationIrBoxTestGenerated.java
+++ b/plugins/kotlinx-serialization/tests-gen/org/jetbrains/kotlinx/serialization/runners/SerializationIrBoxTestGenerated.java
@@ -67,6 +67,12 @@ public class SerializationIrBoxTestGenerated extends AbstractSerializationIrBoxT
         runTest("plugins/kotlinx-serialization/testData/boxIr/delegatedInterface.kt");
     }
 
+    @Test
+    @TestMetadata("delegatedProperty.kt")
+    public void testDelegatedProperty() throws Exception {
+        runTest("plugins/kotlinx-serialization/testData/boxIr/delegatedProperty.kt");
+    }
+
     @Test
     @TestMetadata("enumsAreCached.kt")
     public void testEnumsAreCached() throws Exception {