diff --git a/package.json b/package.json
index c3393d8..551db24 100644
--- a/package.json
+++ b/package.json
@@ -41,7 +41,7 @@
     "eslint-config-developit": "^1.2.0",
     "karmatic": "^1.4.0",
     "microbundle": "^0.12.1",
-    "webpack": "^4.43.0"
+    "webpack": "^5.30.0"
   },
   "dependencies": {
     "loader-utils": "^2.0.0"
diff --git a/src/index.js b/src/index.js
index db75312..c40f6b2 100644
--- a/src/index.js
+++ b/src/index.js
@@ -38,25 +38,24 @@ loader.pitch = function(request) {
 
 	const cb = this.async();
 
-	const filename = loaderUtils.interpolateName(this, `${options.name || '[hash]'}.worker.js`, {
-		context: options.context || this.rootContext || this.options.context,
-		regExp: options.regExp
-	});
+	const compilerOptions = this._compiler.options || {};
+
+	const filename = (options.name || '[fullhash]') + '.worker.js';
 
 	const worker = {};
 
 	worker.options = {
 		filename,
-		chunkFilename: `[id].${filename}`,
-		namedChunkFilename: null
+		chunkFilename: filename,
+		publicPath: options.publicPath || compilerOptions.output.publicPath,
+		globalObject: 'self'
 	};
 
-	const compilerOptions = this._compiler.options || {};
 	if (compilerOptions.output && compilerOptions.output.globalObject==='window') {
 		console.warn('Warning (workerize-loader): output.globalObject is set to "window". It should be set to "self" or "this" to support HMR in Workers.');
 	}
 
-	worker.compiler = this._compilation.createChildCompiler('worker', worker.options);
+	worker.compiler = this._compilation.createChildCompiler(`worker ${request}`, worker.options);
 
 	(new WebWorkerTemplatePlugin(worker.options)).apply(worker.compiler);
 
@@ -83,28 +82,28 @@ loader.pitch = function(request) {
 		}).apply(worker.compiler);
 	}
 
-	(new SingleEntryPlugin(this.context, `!!${path.resolve(__dirname, 'rpc-worker-loader.js')}!${request}`, 'main')).apply(worker.compiler);
+	const bundleName = path.parse(this.resourcePath).name;
 
-	const subCache = `subcache ${__dirname} ${request}`;
+	(new SingleEntryPlugin(this.context, `!!${path.resolve(__dirname, 'rpc-worker-loader.js')}!${request}`, bundleName)).apply(worker.compiler);
 
 	compilationHook(worker.compiler, (compilation, data) => {
-		if (compilation.cache) {
-			if (!compilation.cache[subCache]) compilation.cache[subCache] = {};
-
-			compilation.cache = compilation.cache[subCache];
-		}
 		parseHook(data, (parser, options) => {
 			exportDeclarationHook(parser, expr => {
-				let decl = expr.declaration || expr,
-					{ compilation, current } = parser.state,
-					entry = compilation.entries[0].resource;
+				let decl = expr.declaration || expr;
+				let	{ compilation, current } = parser.state;
+
+				let entryModule =
+					compilation.entries instanceof Map
+						? compilation.moduleGraph.getModule(
+							compilation.entries.get(bundleName).dependencies[0]
+						  )
+						: compilation.entries[0];
 
 				// only process entry exports
-				if (current.resource!==entry) return;
+				if (current.resource!==entryModule.resource) return;
 
 				let key = current.nameForCondition();
 				let exports = CACHE[key] || (CACHE[key] = {});
-
 				if (decl.id) {
 					exports[decl.id.name] = true;
 				}
@@ -116,6 +115,20 @@ loader.pitch = function(request) {
 				else {
 					console.warn('[workerize] unknown export declaration: ', expr);
 				}
+
+				// This is for Webpack 5: mark the exports as used so it does not get tree-shaken away on production build
+				if (compilation.moduleGraph) {
+					const { getEntryRuntime } = require('webpack/lib/util/runtime');
+					const { UsageState } = require('webpack');
+					const runtime = getEntryRuntime(compilation, bundleName);
+					for (const exportName of Object.keys(exports)) {
+						const exportInfo = compilation.moduleGraph.getExportInfo(entryModule, exportName);
+						exportInfo.setUsed(UsageState.Used, runtime);
+						exportInfo.canMangleUse = false;
+						exportInfo.canMangleProvide = false;
+					}
+					compilation.moduleGraph.addExtraReason(entryModule, 'used by workerize-loader');
+				}
 			});
 		});
 	});
@@ -124,9 +137,20 @@ loader.pitch = function(request) {
 		if (err) return cb(err);
 
 		if (entries[0]) {
-			worker.file = entries[0].files[0];
-
-			let key = entries[0].entryModule.nameForCondition();
+			worker.file = Array.from(entries[0].files)[0];
+			const entryModules =
+				compilation.chunkGraph &&
+				compilation.chunkGraph.getChunkEntryModulesIterable
+					? Array.from(
+						compilation.chunkGraph.getChunkEntryModulesIterable(entries[0])
+					  )
+					: null;
+			const entryModule =
+				entryModules && entryModules.length > 0
+					? entryModules[0]
+					: entries[0].entryModule;
+
+			let key = entryModule.nameForCondition();
 			let contents = compilation.assets[worker.file].source();
 			let exports = Object.keys(CACHE[key] || {});
 
@@ -151,11 +175,15 @@ loader.pitch = function(request) {
 				workerUrl = `"data:,importScripts('"+location.origin+${workerUrl}+"')"`;
 			}
 
+			// workerUrl will be URL.revokeObjectURL() to avoid memory leaks on browsers
+			// https://github.com/webpack-contrib/worker-loader/issues/208
+
 			return cb(null, `
 				var addMethods = require(${loaderUtils.stringifyRequest(this, path.resolve(__dirname, 'rpc-wrapper.js'))})
 				var methods = ${JSON.stringify(exports)}
 				module.exports = function() {
 					var w = new Worker(${workerUrl}, { name: ${JSON.stringify(filename)} })
+					URL.revokeObjectURL(${workerUrl});
 					addMethods(w, methods)
 					${ options.ready ? 'w.ready = new Promise(function(r) { w.addEventListener("ready", function(){ r(w) }) })' : '' }
 					return w