diff --git a/lib/internal/modules/esm/translators.js b/lib/internal/modules/esm/translators.js
index 2264390ea1faff..ded8e57f462929 100644
--- a/lib/internal/modules/esm/translators.js
+++ b/lib/internal/modules/esm/translators.js
@@ -130,8 +130,21 @@ const { requestTypes: { kRequireInImportedCJS } } = require('internal/modules/es
  * @param {boolean} isMain - Whether the module is the entrypoint
  */
 function loadCJSModule(module, source, url, filename, isMain) {
-  const compileResult = compileFunctionForCJSLoader(source, filename, false /* is_sea_main */, false);
+  // Validate source before compilation to prevent internal assertion errors.
+  // Without this check, null or undefined source causes ERR_INTERNAL_ASSERTION
+  // when passed to compileFunctionForCJSLoader.
+  // Refs: https://github.com/nodejs/node/issues/60401
+  if (source === null || source === undefined) {
+    throw new ERR_INVALID_RETURN_PROPERTY_VALUE(
+      'non-empty string',
+      'load',
+      'source',
+      source,
+    );
+  }
 
+  const compileResult = compileFunctionForCJSLoader(source, filename, false /* is_sea_main */, false);
+  
   const { function: compiledWrapper, sourceMapURL, sourceURL } = compileResult;
   // Cache the source map for the cjs module if present.
   if (sourceMapURL) {
diff --git a/test/fixtures/test-null-source.js b/test/fixtures/test-null-source.js
new file mode 100644
index 00000000000000..867f629c0efaf2
--- /dev/null
+++ b/test/fixtures/test-null-source.js
@@ -0,0 +1,2 @@
+// test/fixtures/test-null-source.js
+export {};
diff --git a/test/parallel/test-esm-loader-null-source.js b/test/parallel/test-esm-loader-null-source.js
new file mode 100644
index 00000000000000..a96d35eb796f41
--- /dev/null
+++ b/test/parallel/test-esm-loader-null-source.js
@@ -0,0 +1,166 @@
+'use strict';
+import { pathToFileURL } from 'url';
+import path from 'path';
+
+// Test that ESM loader handles null/undefined source gracefully
+// and throws meaningful error instead of ERR_INTERNAL_ASSERTION.
+// Refs: https://github.com/nodejs/node/issues/60401
+const fixturePath = pathToFileURL(path.join(__dirname, '../fixtures/test-null-source.js')).href;
+const common = require('../common');
+const assert = require('assert');
+const { spawnSync } = require('child_process');
+const fixtures = require('../common/fixtures');
+
+// Test case: Loader returning null source for CommonJS module
+// This should throw ERR_INVALID_RETURN_PROPERTY_VALUE, not ERR_INTERNAL_ASSERTION
+{
+  function load(url, context, next) {
+          if (url.includes("test-null-source")) {
+            return { format: "commonjs", source: null, shortCircuit: true };
+          }
+          return next(url);
+   }
+  const result = spawnSync(
+    process.execPath,
+    [
+      '--no-warnings',
+      '--input-type=module',
+      '--eval',
+      `
+      import { register } from 'node:module';
+      
+      // Register a custom loader that returns null source
+      register('data:text/javascript,export ' + encodeURIComponent(${load}));
+      
+      await assert.rejects(import('file:///test-null-source.js'), { code: 'ERR_INVALID_RETURN_PROPERTY_VALUE' });
+      `,
+    ],
+    { encoding: 'utf8' }
+  );
+
+  const output = result.stdout + result.stderr;
+  
+  // Verify test passed
+  assert.ok(
+    output.includes('PASS: Got expected error'),
+    'Should pass with expected error. Output: ' + output
+  );
+  
+  assert.strictEqual(
+    result.status,
+    0,
+    'Process should exit with code 0. Output: ' + output
+  );
+}
+
+// Test case: Loader returning undefined source
+{
+  const result = spawnSync(
+    process.execPath,
+    [
+      '--no-warnings',
+      '--input-type=module',
+      '--eval',
+      `
+      import { register } from 'node:module';
+      
+      const code = 'export function load(url, context, next) {' +
+        '  if (url.includes("test-undefined-source")) {' +
+        '    return { format: "commonjs", source: undefined, shortCircuit: true };' +
+        '  }' +
+        '  return next(url);' +
+        '}';
+      
+      register('data:text/javascript,' + encodeURIComponent(code));
+      
+      try {
+        await import('file:///test-undefined-source.js');
+        console.log('ERROR: Should have thrown');
+        process.exit(1);
+      } catch (err) {
+        if (err.code === 'ERR_INTERNAL_ASSERTION') {
+          console.log('FAIL: Got ERR_INTERNAL_ASSERTION');
+          process.exit(1);
+        }
+        if (err.code === 'ERR_INVALID_RETURN_PROPERTY_VALUE') {
+          console.log('PASS: Got expected error');
+          process.exit(0);
+        }
+        console.log('ERROR: Got unexpected error:', err.code);
+        process.exit(1);
+      }
+      `,
+    ],
+    { encoding: 'utf8' }
+  );
+
+  const output = result.stdout + result.stderr;
+  
+  assert.ok(
+    output.includes('PASS: Got expected error'),
+    'Should pass with expected error for undefined. Output: ' + output
+  );
+  
+  assert.strictEqual(
+    result.status,
+    0,
+    'Process should exit with code 0. Output: ' + output
+  );
+}
+
+// Test case: Loader returning empty string source
+{
+  const result = spawnSync(
+    process.execPath,
+    [
+      '--no-warnings',
+      '--input-type=module',
+      '--eval',
+      `
+      import { register } from 'node:module';
+      
+      const code = 'export function load(url, context, next) {' +
+        '  if (url.includes("test-empty-source")) {' +
+        '    return { format: "commonjs", source: "", shortCircuit: true };' +
+        '  }' +
+        '  return next(url);' +
+        '}';
+      
+      register('data:text/javascript,' + encodeURIComponent(code));
+      
+      try {
+        await import(fixturePath);
+        console.log('ERROR: Should have thrown');
+        process.exit(1);
+      } catch (err) {
+        if (err.code === 'ERR_INTERNAL_ASSERTION') {
+          console.log('FAIL: Got ERR_INTERNAL_ASSERTION');
+          process.exit(1);
+        }
+        if (err.code === 'ERR_INVALID_RETURN_PROPERTY_VALUE') {
+          console.log('PASS: Got expected error');
+          process.exit(0);
+        }
+        console.log('ERROR: Got unexpected error:', err.code);
+        process.exit(1);
+      }
+      `,
+    ],
+    { encoding: 'utf8' }
+  );
+
+  const output = result.stdout + result.stderr;
+  
+  assert.ok(
+    output.includes('PASS: Got expected error'),
+    'Should pass with expected error for empty string. Output: ' + output
+  );
+  
+  assert.strictEqual(
+    result.status,
+    0,
+    'Process should exit with code 0. Output: ' + output
+  );
+}
+
+console.log('All tests passed!');