diff --git a/readthedocs/builds/migrations/0066_add_buildconfig_model.py b/readthedocs/builds/migrations/0066_add_buildconfig_model.py
new file mode 100644
index 00000000000..91911edbfa7
--- /dev/null
+++ b/readthedocs/builds/migrations/0066_add_buildconfig_model.py
@@ -0,0 +1,66 @@
+# Generated by Django 5.2.9 on 2025-12-09 17:33
+
+import django.db.models.deletion
+import django_extensions.db.fields
+from django.db import migrations
+from django.db import models
+from django_safemigrate import Safe
+
+
+class Migration(migrations.Migration):
+    safe = Safe.before_deploy()
+
+    dependencies = [
+        ("builds", "0065_task_executed_at"),
+    ]
+
+    operations = [
+        migrations.CreateModel(
+            name="BuildConfig",
+            fields=[
+                (
+                    "id",
+                    models.AutoField(
+                        auto_created=True, primary_key=True, serialize=False, verbose_name="ID"
+                    ),
+                ),
+                (
+                    "created",
+                    django_extensions.db.fields.CreationDateTimeField(
+                        auto_now_add=True, verbose_name="created"
+                    ),
+                ),
+                (
+                    "modified",
+                    django_extensions.db.fields.ModificationDateTimeField(
+                        auto_now=True, verbose_name="modified"
+                    ),
+                ),
+                (
+                    "data",
+                    models.JSONField(
+                        help_text="The rendered YAML configuration used in the build",
+                        unique=True,
+                        verbose_name="Configuration data",
+                    ),
+                ),
+            ],
+            options={
+                "verbose_name": "Build configuration",
+                "verbose_name_plural": "Build configurations",
+            },
+        ),
+        migrations.AddField(
+            model_name="build",
+            name="readthedocs_yaml_data",
+            field=models.ForeignKey(
+                blank=True,
+                help_text="The rendered YAML configuration used in the build",
+                null=True,
+                on_delete=django.db.models.deletion.SET_NULL,
+                related_name="builds",
+                to="builds.buildconfig",
+                verbose_name="Build configuration data",
+            ),
+        ),
+    ]
diff --git a/readthedocs/builds/models.py b/readthedocs/builds/models.py
index 99669386a31..5af3ff1e290 100644
--- a/readthedocs/builds/models.py
+++ b/readthedocs/builds/models.py
@@ -607,6 +607,28 @@ def save(self, *args, **kwargs):
         return 0
 
 
+class BuildConfig(TimeStampedModel):
+    """
+    Build configuration data.
+
+    Stores the rendered YAML configuration used in builds.
+    The unique constraint ensures we don't duplicate identical configs.
+    """
+
+    data = models.JSONField(
+        _("Configuration data"),
+        unique=True,
+        help_text=_("The rendered YAML configuration used in the build"),
+    )
+
+    class Meta:
+        verbose_name = _("Build configuration")
+        verbose_name_plural = _("Build configurations")
+
+    def __str__(self):
+        return f"BuildConfig {self.pk}"
+
+
 class Build(models.Model):
     """Build data."""
 
@@ -698,6 +720,15 @@ class Build(models.Model):
         null=True,
         blank=True,
     )
+    readthedocs_yaml_data = models.ForeignKey(
+        "BuildConfig",
+        verbose_name=_("Build configuration data"),
+        null=True,
+        blank=True,
+        on_delete=models.SET_NULL,
+        related_name="builds",
+        help_text=_("The rendered YAML configuration used in the build"),
+    )
     readthedocs_yaml_path = models.CharField(
         _("Custom build configuration file path used in this build"),
         max_length=1024,
@@ -823,12 +854,34 @@ def save(self, *args, **kwargs):  # noqa
 
         If the config is the same, we save the pk of the object
         that has the **real** config under the `CONFIG_KEY` key.
+
+        Additionally, we create or get a BuildConfig object for the new
+        readthedocs_yaml_data field to facilitate the migration to the new model.
         """
         if self.pk is None or self._config_changed:
             previous = self.previous
             if previous is not None and self._config and self._config == previous.config:
                 previous_pk = previous._config.get(self.CONFIG_KEY, previous.pk)
                 self._config = {self.CONFIG_KEY: previous_pk}
+                # When using reference style, follow the reference to get the actual config
+                # and create/get the corresponding BuildConfig
+                if previous.readthedocs_yaml_data:
+                    # Previous build already has a BuildConfig, reuse it
+                    self.readthedocs_yaml_data = previous.readthedocs_yaml_data
+                else:
+                    # Previous build doesn't have BuildConfig yet, get its actual config
+                    actual_config = previous.config
+                    if actual_config:
+                        build_config, created = BuildConfig.objects.get_or_create(
+                            data=actual_config
+                        )
+                        self.readthedocs_yaml_data = build_config
+            elif self._config and self.CONFIG_KEY not in self._config:
+                # Populate the new readthedocs_yaml_data field
+                # We only create a BuildConfig when we have actual config data (not a reference)
+                # Use get_or_create to avoid duplicates and leverage the unique constraint
+                build_config, created = BuildConfig.objects.get_or_create(data=self._config)
+                self.readthedocs_yaml_data = build_config
 
         if self.version:
             self.version_name = self.version.verbose_name
diff --git a/readthedocs/builds/tests/test_buildconfig.py b/readthedocs/builds/tests/test_buildconfig.py
new file mode 100644
index 00000000000..4dad487237d
--- /dev/null
+++ b/readthedocs/builds/tests/test_buildconfig.py
@@ -0,0 +1,104 @@
+"""Tests for BuildConfig model and Build.readthedocs_yaml_data field."""
+
+import django_dynamic_fixture as fixture
+import pytest
+
+from readthedocs.builds.models import Build
+from readthedocs.builds.models import BuildConfig
+from readthedocs.builds.models import Version
+from readthedocs.projects.models import Project
+
+
+@pytest.mark.django_db
+class TestBuildReadthedocsYamlData:
+    """Test Build.readthedocs_yaml_data field and integration."""
+
+    def test_build_saves_with_config_creates_buildconfig(self):
+        """Test that saving a Build with config creates BuildConfig."""
+        project = fixture.get(Project)
+        config_data = {"build": {"os": "ubuntu-22.04"}, "python": {"version": "3.11"}}
+
+        build = fixture.get(Build, project=project)
+        build.config = config_data
+        build.save()
+
+        # Check that both old and new fields are populated
+        assert build._config == config_data
+        assert build.readthedocs_yaml_data.data == config_data
+
+    def test_build_with_same_config_reuses_buildconfig(self):
+        """Test that builds with same config reuse the same BuildConfig."""
+        project = fixture.get(Project)
+        config_data = {"build": {"os": "ubuntu-22.04"}, "python": {"version": "3.11"}}
+
+        # Create first build
+        build1 = fixture.get(Build, project=project)
+        build1.config = config_data
+        build1.save()
+
+        # Create second build with same config
+        build2 = fixture.get(Build, project=project)
+        build2.config = config_data
+        build2.save()
+
+        # Both should reference the same BuildConfig
+        assert build1.readthedocs_yaml_data.pk == build2.readthedocs_yaml_data.pk
+        assert BuildConfig.objects.count() == 1
+
+    def test_build_with_different_config_creates_new_buildconfig(self):
+        """Test that builds with different configs create separate BuildConfigs."""
+        project = fixture.get(Project)
+        config_data1 = {"build": {"os": "ubuntu-22.04"}, "python": {"version": "3.11"}}
+        config_data2 = {"build": {"os": "ubuntu-20.04"}, "python": {"version": "3.10"}}
+
+        # Create first build
+        build1 = fixture.get(Build, project=project)
+        build1.config = config_data1
+        build1.save()
+
+        # Create second build with different config
+        build2 = fixture.get(Build, project=project)
+        build2.config = config_data2
+        build2.save()
+
+        # Should have different BuildConfigs
+        assert build1.readthedocs_yaml_data.pk != build2.readthedocs_yaml_data.pk
+        assert BuildConfig.objects.count() == 2
+
+    def test_build_without_config_does_not_create_buildconfig(self):
+        """Test that a Build without config doesn't create a BuildConfig."""
+        project = fixture.get(Project)
+        build = fixture.get(Build, project=project)
+
+        # Build has no config set
+        build.save()
+
+        assert build._config is None
+        assert build.readthedocs_yaml_data is None
+        assert BuildConfig.objects.count() == 0
+
+    def test_build_with_config_reference_uses_same_buildconfig(self):
+        """Test that a Build with config reference (old style) reuses the same BuildConfig."""
+        project = fixture.get(Project)
+        version = fixture.get(Version, project=project)
+        config_data = {"build": {"os": "ubuntu-22.04"}}
+
+        # Create a build with actual config
+        build1 = fixture.get(Build, project=project, version=version)
+        build1.config = config_data
+        build1.save()
+
+        # Create a build with same config on the same version
+        # (which will use the reference style in _config)
+        build2 = fixture.get(Build, project=project, version=version)
+        build2.config = config_data
+        build2.save()
+
+        # build2 should have a reference in _config, not actual data
+        assert Build.CONFIG_KEY in build2._config
+        # Both builds should have the same BuildConfig
+        assert build1.readthedocs_yaml_data is not None
+        assert build2.readthedocs_yaml_data is not None
+        assert build1.readthedocs_yaml_data.pk == build2.readthedocs_yaml_data.pk
+        # There should only be one BuildConfig created
+        assert BuildConfig.objects.count() == 1