diff --git a/.changeset/true-impalas-behave.md b/.changeset/true-impalas-behave.md
new file mode 100644
index 000000000..b1d452bd4
--- /dev/null
+++ b/.changeset/true-impalas-behave.md
@@ -0,0 +1,5 @@
+---
+'@tanstack/form-core': patch
+---
+
+fix race condition when listening to multiple Fields in onChangeListenTo
diff --git a/packages/form-core/src/FieldApi.ts b/packages/form-core/src/FieldApi.ts
index 7d4a37b4c..86a9cddca 100644
--- a/packages/form-core/src/FieldApi.ts
+++ b/packages/form-core/src/FieldApi.ts
@@ -631,6 +631,12 @@ export type FieldMetaBase<
    * A flag indicating whether the field is currently being validated.
    */
   isValidating: boolean
+  /**
+   * @private
+   * Counter for tracking active async validations to prevent race conditions
+   * when multiple validations finish at the same time.
+   */
+  validationCount: number
 }
 
 export type AnyFieldMetaBase = FieldMetaBase<
@@ -1791,6 +1797,38 @@ export class FieldApi<
     return { hasErrored }
   }
 
+  /**
+   * `@private`
+   * Starts tracking an async validation, incrementing the counter and setting isValidating if needed.
+   */
+  private startValidation() {
+    this.setMeta((prev) => {
+      const newCount = prev.validationCount + 1
+      return {
+        ...prev,
+        validationCount: newCount,
+        isValidating:
+          newCount > 0 && !prev.isValidating ? true : prev.isValidating,
+      }
+    })
+  }
+
+  /**
+   * `@private`
+   * Ends tracking an async validation, decrementing the counter and clearing isValidating if no validations remain.
+   */
+  private endValidation() {
+    this.setMeta((prev) => {
+      const newCount = Math.max(0, prev.validationCount - 1)
+      return {
+        ...prev,
+        validationCount: newCount,
+        isValidating:
+          newCount === 0 && prev.isValidating ? false : prev.isValidating,
+      }
+    })
+  }
+
   /**
    * @private
    */
@@ -1854,18 +1892,23 @@ export class FieldApi<
     // Check if there are actual async validators to run before setting isValidating
     // This prevents unnecessary re-renders when there are no async validators
     // See: https://github.com/TanStack/form/issues/1130
-    const hasAsyncValidators =
-      validates.some((v) => v.validate) ||
-      linkedFieldValidates.some((v) => v.validate)
+    const hasAsyncValidators = validates.some((v) => v.validate)
+    const linkedFieldsWithAsyncValidators = linkedFieldValidates.some(
+      (v) => v.validate,
+    )
+      ? Array.from(
+          new Set(
+            linkedFieldValidates.filter((v) => v.validate).map((v) => v.field),
+          ),
+        )
+      : []
 
     if (hasAsyncValidators) {
-      if (!this.state.meta.isValidating) {
-        this.setMeta((prev) => ({ ...prev, isValidating: true }))
-      }
+      this.startValidation()
+    }
 
-      for (const linkedField of linkedFields) {
-        linkedField.setMeta((prev) => ({ ...prev, isValidating: true }))
-      }
+    for (const linkedField of linkedFieldsWithAsyncValidators) {
+      linkedField.startValidation()
     }
 
     const validateFieldAsyncFn = (
@@ -1891,6 +1934,7 @@ export class FieldApi<
             rawError = await new Promise((rawResolve, rawReject) => {
               if (field.timeoutIds.validations[validateObj.cause]) {
                 clearTimeout(field.timeoutIds.validations[validateObj.cause]!)
+                field.endValidation()
               }
 
               field.timeoutIds.validations[validateObj.cause] = setTimeout(
@@ -1979,11 +2023,11 @@ export class FieldApi<
 
     // Only reset isValidating if we set it to true earlier
     if (hasAsyncValidators) {
-      this.setMeta((prev) => ({ ...prev, isValidating: false }))
+      this.endValidation()
+    }
 
-      for (const linkedField of linkedFields) {
-        linkedField.setMeta((prev) => ({ ...prev, isValidating: false }))
-      }
+    for (const linkedField of linkedFieldsWithAsyncValidators) {
+      linkedField.endValidation()
     }
 
     return results.filter(Boolean)
diff --git a/packages/form-core/src/FormApi.ts b/packages/form-core/src/FormApi.ts
index 2317fb2b9..10f09d705 100644
--- a/packages/form-core/src/FormApi.ts
+++ b/packages/form-core/src/FormApi.ts
@@ -1041,6 +1041,7 @@ export class FormApi<
             isValidating: false,
             isBlurred: false,
             isDirty: false,
+            validationCount: 0,
             ...(existingFieldMeta ?? {}),
             errorSourceMap: {
               ...(existingFieldMeta?.['errorSourceMap'] ?? {}),
diff --git a/packages/form-core/src/metaHelper.ts b/packages/form-core/src/metaHelper.ts
index a990c0c0a..37de125e2 100644
--- a/packages/form-core/src/metaHelper.ts
+++ b/packages/form-core/src/metaHelper.ts
@@ -19,6 +19,7 @@ export const defaultFieldMeta: AnyFieldMeta = {
   errors: [],
   errorMap: {},
   errorSourceMap: {},
+  validationCount: 0,
 }
 
 export function metaHelper<
diff --git a/packages/form-core/tests/FieldApi.spec.ts b/packages/form-core/tests/FieldApi.spec.ts
index 1fa3d4d65..a6d795967 100644
--- a/packages/form-core/tests/FieldApi.spec.ts
+++ b/packages/form-core/tests/FieldApi.spec.ts
@@ -65,6 +65,7 @@ describe('field api', () => {
       errors: [],
       errorMap: {},
       errorSourceMap: {},
+      validationCount: 0,
     })
   })
 
diff --git a/packages/form-core/tests/FormApi.spec.ts b/packages/form-core/tests/FormApi.spec.ts
index eccd2e544..3be0ff00e 100644
--- a/packages/form-core/tests/FormApi.spec.ts
+++ b/packages/form-core/tests/FormApi.spec.ts
@@ -2991,6 +2991,68 @@ describe('form api', () => {
     expect(passconfirmField.state.meta.errors.length).toBe(0)
   })
 
+  it('should not leave linked fields stuck in isValidating when multiple setValue calls trigger concurrent async validation', async () => {
+    vi.useFakeTimers()
+
+    const validationFn = vi.fn()
+
+    const form = new FormApi({
+      defaultValues: {
+        street: '',
+        houseNo: '',
+        zipCode: '',
+        city: '',
+      },
+    })
+
+    form.mount()
+
+    const street = new FieldApi({
+      form,
+      name: 'street',
+      validators: {
+        onChangeListenTo: ['houseNo', 'zipCode', 'city'],
+        onChangeAsyncDebounceMs: 300,
+        onChangeAsync: async () => {
+          await sleep(500)
+          await validationFn()
+          return undefined
+        },
+      },
+    })
+    const houseNo = new FieldApi({ form, name: 'houseNo' })
+    const zipCode = new FieldApi({ form, name: 'zipCode' })
+    const city = new FieldApi({ form, name: 'city' })
+
+    street.mount()
+    houseNo.mount()
+    zipCode.mount()
+    city.mount()
+
+    // Simulate browser autofill: all fields set in rapid succession
+    street.setValue('Foo Street')
+    houseNo.setValue('2')
+    zipCode.setValue('12345')
+    city.setValue('Barrington')
+
+    // Run debounce + async validation
+    await vi.runAllTimersAsync()
+
+    expect.soft(validationFn).toHaveBeenCalledTimes(1)
+
+    expect.soft(street.getMeta().isValidating).toBe(false)
+    expect.soft(houseNo.getMeta().isValidating).toBe(false)
+    expect.soft(zipCode.getMeta().isValidating).toBe(false)
+    expect.soft(city.getMeta().isValidating).toBe(false)
+
+    expect.soft(form.state.isFieldsValidating).toBe(false)
+    expect.soft(form.state.isFieldsValid).toBe(true)
+    expect.soft(form.state.isValid).toBe(true)
+    expect.soft(form.state.canSubmit).toBe(true)
+
+    vi.useRealTimers()
+  })
+
   it("should set field errors from the form's onMount validator", async () => {
     const form = new FormApi({
       defaultValues: {