diff --git a/lib/elixir/lib/kernel.ex b/lib/elixir/lib/kernel.ex
index e8f91d4615a..e3827f84be3 100644
--- a/lib/elixir/lib/kernel.ex
+++ b/lib/elixir/lib/kernel.ex
@@ -3723,26 +3723,32 @@ defmodule Kernel do
 
     case function? do
       true ->
-        value =
-          case Module.__get_attribute__(env.module, name, line, false) do
-            {_, doc} when doc_attr? -> doc
-            other -> other
-          end
+        case Module.__get_attribute__(env.module, name, line, false) do
+          {_, doc} when doc_attr? ->
+            do_at_escape(name, doc)
+
+          %{__struct__: Regex, source: source, opts: opts} = regex ->
+            # TODO: Remove this in Elixir v2.0
+            IO.warn(
+              "storing and reading regexes from module attributes is deprecated, " <>
+                "inline the regex inside the function definition instead",
+              env
+            )
+
+            case :erlang.system_info(:otp_release) < [?2, ?8] do
+              true -> do_at_escape(name, regex)
+              false -> quote(do: Regex.compile!(unquote(source), unquote(opts)))
+            end
 
-        try do
-          :elixir_quote.escape(value, :none, false)
-        rescue
-          ex in [ArgumentError] ->
-            raise ArgumentError,
-                  "cannot inject attribute @#{name} into function/macro because " <>
-                    Exception.message(ex)
+          value ->
+            do_at_escape(name, value)
         end
 
       false when doc_attr? ->
         quote do
           case Module.__get_attribute__(__MODULE__, unquote(name), unquote(line), false) do
             {_, doc} -> doc
-            other -> other
+            value -> value
           end
         end
 
@@ -3777,6 +3783,17 @@ defmodule Kernel do
     raise ArgumentError, "expected 0 or 1 argument for @#{name}, got: #{length(args)}"
   end
 
+  defp do_at_escape(name, value) do
+    try do
+      :elixir_quote.escape(value, :none, false)
+    rescue
+      ex in [ArgumentError] ->
+        raise ArgumentError,
+              "cannot inject attribute @#{name} into function/macro because " <>
+                Exception.message(ex)
+    end
+  end
+
   # Those are always compile-time dependencies, so we can skip the trace.
   defp collect_traces(:before_compile, arg, _env), do: {arg, []}
   defp collect_traces(:after_compile, arg, _env), do: {arg, []}
@@ -6500,6 +6517,7 @@ defmodule Kernel do
   end
 
   defp compile_regex(binary_or_tuple, options) do
+    # TODO: Remove this when we require Erlang/OTP 28+
     case is_binary(binary_or_tuple) and :erlang.system_info(:otp_release) < [?2, ?8] do
       true ->
         Macro.escape(Regex.compile!(binary_or_tuple, :binary.list_to_bin(options)))
diff --git a/lib/elixir/test/elixir/regex_test.exs b/lib/elixir/test/elixir/regex_test.exs
index 5db7ca0d661..189f8e3bf55 100644
--- a/lib/elixir/test/elixir/regex_test.exs
+++ b/lib/elixir/test/elixir/regex_test.exs
@@ -9,6 +9,25 @@ defmodule RegexTest do
 
   doctest Regex
 
+  if System.otp_release() >= "28" do
+    test "module attribute" do
+      assert ExUnit.CaptureIO.capture_io(:stderr, fn ->
+               defmodule ModAttr do
+                 @regex ~r/example/
+                 def regex, do: @regex
+
+                 @bare_regex :erlang.term_to_binary(@regex)
+                 def bare_regex, do: :erlang.binary_to_term(@bare_regex)
+
+                 # We don't rewrite outside of functions
+                 assert @regex.re_pattern == :erlang.binary_to_term(@bare_regex).re_pattern
+               end
+
+               assert ModAttr.regex().re_pattern != ModAttr.bare_regex().re_pattern
+             end) =~ "storing and reading regexes from module attributes is deprecated"
+    end
+  end
+
   test "multiline" do
     refute Regex.match?(~r/^b$/, "a\nb\nc")
     assert Regex.match?(~r/^b$/m, "a\nb\nc")