diff --git a/py/torch_tensorrt/_compile.py b/py/torch_tensorrt/_compile.py
index acae618f1b..1ea62495f1 100644
--- a/py/torch_tensorrt/_compile.py
+++ b/py/torch_tensorrt/_compile.py
@@ -4,7 +4,7 @@
 import logging
 import platform
 from enum import Enum
-from typing import Any, Callable, List, Optional, Sequence, Set, Union
+from typing import Any, Callable, List, Optional, Sequence, Set, Union, Literal
 
 import torch
 import torch.fx
@@ -580,7 +580,9 @@ def save(
     module: Any,
     file_path: str = "",
     *,
-    output_format: str = "exported_program",
+    output_format: Literal[
+        "exported_program", "torchscript", "aot_inductor"
+    ] = "exported_program",
     inputs: Optional[Sequence[torch.Tensor]] = None,
     arg_inputs: Optional[Sequence[torch.Tensor]] = None,
     kwarg_inputs: Optional[dict[str, Any]] = None,
@@ -639,7 +641,7 @@ def save(
             "Input model is of type nn.Module. Saving nn.Module directly is not supported. Supported model types torch.jit.ScriptModule | torch.fx.GraphModule | torch.export.ExportedProgram."
         )
     elif module_type == _ModuleType.ts:
-        if not all([output_format == f for f in ["exported_program", "aot_inductor"]]):
+        if output_format != "torchscript":
             raise ValueError(
                 "Provided model is a torch.jit.ScriptModule but the output_format specified is not torchscript. Other output formats are not supported"
             )
diff --git a/tests/py/ts/api/test_export_serde.py b/tests/py/ts/api/test_export_serde.py
new file mode 100644
index 0000000000..21bf57082b
--- /dev/null
+++ b/tests/py/ts/api/test_export_serde.py
@@ -0,0 +1,58 @@
+import importlib
+import os
+import platform
+import tempfile
+import unittest
+
+import pytest
+import torch
+import torch_tensorrt as torchtrt
+from torch_tensorrt.dynamo.utils import (
+    COSINE_THRESHOLD,
+    cosine_similarity,
+    get_model_device,
+)
+
+assertions = unittest.TestCase()
+
+@pytest.mark.unit
+def test_save_load_ts(ir):
+    """
+    This tests save/load API on Torchscript format (model still compiled using ts workflow)
+    """
+
+    class MyModule(torch.nn.Module):
+        def __init__(self):
+            super().__init__()
+            self.conv = torch.nn.Conv2d(3, 16, 3, stride=1, bias=True)
+            self.relu = torch.nn.ReLU()
+
+        def forward(self, x):
+            conv = self.conv(x)
+            relu = self.relu(conv)
+            mul = relu * 0.5
+            return mul
+
+    model = MyModule().eval().cuda()
+    input = torch.randn((1, 3, 224, 224)).to("cuda")
+
+    trt_gm = torchtrt.compile(
+        model,
+        ir="ts",
+        inputs=[input],
+        min_block_size=1,
+        cache_built_engines=False,
+        reuse_cached_engines=False,
+    )
+    outputs_trt = trt_gm(input)
+    # Save it as torchscript representation
+    torchtrt.save(trt_gm, "./trt.ts", output_format="torchscript", inputs=[input])
+
+    trt_ts_module = torchtrt.load("./trt.ts")
+    outputs_trt_deser = trt_ts_module(input)
+
+    cos_sim = cosine_similarity(outputs_trt, outputs_trt_deser)
+    assertions.assertTrue(
+        cos_sim > COSINE_THRESHOLD,
+        msg=f"test_save_load_ts TRT outputs don't match with the original model. Cosine sim score: {cos_sim} Threshold: {COSINE_THRESHOLD}",
+    )