diff --git a/kotlinx-coroutines-core/common/src/flow/SharedFlow.kt b/kotlinx-coroutines-core/common/src/flow/SharedFlow.kt
index 88dc775842..7167971429 100644
--- a/kotlinx-coroutines-core/common/src/flow/SharedFlow.kt
+++ b/kotlinx-coroutines-core/common/src/flow/SharedFlow.kt
@@ -326,7 +326,7 @@ private class SharedFlowImpl<T>(
         var resumes: Array<Continuation<Unit>?> = EMPTY_RESUMES
         val emitted = synchronized(this) {
             if (tryEmitLocked(value)) {
-                resumes = findSlotsToResumeLocked()
+                resumes = findSlotsToResumeLocked(resumes)
                 true
             } else {
                 false
@@ -422,7 +422,7 @@ private class SharedFlowImpl<T>(
             // recheck buffer under lock again (make sure it is really full)
             if (tryEmitLocked(value)) {
                 cont.resume(Unit)
-                resumes = findSlotsToResumeLocked()
+                resumes = findSlotsToResumeLocked(resumes)
                 return@lock null
             }
             // add suspended emitter to the buffer
@@ -430,7 +430,7 @@ private class SharedFlowImpl<T>(
                 enqueueLocked(it)
                 queueSize++ // added to queue of waiting emitters
                 // synchronous shared flow might rendezvous with waiting emitter
-                if (bufferCapacity == 0) resumes = findSlotsToResumeLocked()
+                if (bufferCapacity == 0) resumes = findSlotsToResumeLocked(resumes)
             }
         }
         // outside of the lock: register dispose on cancellation
@@ -512,6 +512,8 @@ private class SharedFlowImpl<T>(
         updateBufferLocked(newReplayIndex, newMinCollectorIndex, newBufferEndIndex, newQueueEndIndex)
         // just in case we've moved all buffered emitters and have NO_VALUE's at the tail now
         cleanupTailLocked()
+        // We need to waken up suspended collectors if any emitters were resumed here
+        if (resumes.isNotEmpty()) resumes = findSlotsToResumeLocked(resumes)
         return resumes
     }
 
@@ -598,9 +600,9 @@ private class SharedFlowImpl<T>(
         }
     }
 
-    private fun findSlotsToResumeLocked(): Array<Continuation<Unit>?> {
-        var resumes: Array<Continuation<Unit>?> = EMPTY_RESUMES
-        var resumeCount = 0
+    private fun findSlotsToResumeLocked(resumesIn: Array<Continuation<Unit>?>): Array<Continuation<Unit>?> {
+        var resumes: Array<Continuation<Unit>?> = resumesIn
+        var resumeCount = resumesIn.size
         forEachSlotLocked loop@{ slot ->
             val cont = slot.cont ?: return@loop // only waiting slots
             if (tryPeekLocked(slot) < 0) return@loop // only slots that can peek a value
diff --git a/kotlinx-coroutines-core/common/test/flow/sharing/SharedFlowScenarioTest.kt b/kotlinx-coroutines-core/common/test/flow/sharing/SharedFlowScenarioTest.kt
index f716389fb7..c3eb2dac04 100644
--- a/kotlinx-coroutines-core/common/test/flow/sharing/SharedFlowScenarioTest.kt
+++ b/kotlinx-coroutines-core/common/test/flow/sharing/SharedFlowScenarioTest.kt
@@ -176,6 +176,31 @@ class SharedFlowScenarioTest : TestBase() {
             collect(b, 15)
         }
 
+    @Test // https://github.com/Kotlin/kotlinx.coroutines/issues/2320
+    fun testResumeFastSubscriberOnResumedEmitter() =
+        testSharedFlow<Int>(MutableSharedFlow(1)) {
+            // create two subscribers and start collecting
+            val s1 = subscribe("s1"); resumeCollecting(s1)
+            val s2 = subscribe("s2"); resumeCollecting(s2)
+            // now emit 0, make sure it is collected
+            emitRightNow(0); expectReplayOf(0)
+            awaitCollected(s1, 0)
+            awaitCollected(s2, 0)
+            // now emit 1, and only first subscriber continues and collects it
+            emitRightNow(1); expectReplayOf(1)
+            collect(s1, 1)
+            // now emit 2, it suspend (s2 is blocking it)
+            val e2 = emitSuspends(2)
+            resumeCollecting(s1) // resume, but does not collect (e2 is still queued)
+            collect(s2, 1) // resume + collect next --> resumes emitter, thus resumes s1
+            awaitCollected(s1, 2) // <-- S1 collects value from the newly resumed emitter here !!!
+            emitResumes(e2); expectReplayOf(2)
+            // now emit 3, it suspends (s2 blocks it)
+            val e3 = emitSuspends(3)
+            collect(s2, 2)
+            emitResumes(e3); expectReplayOf(3)
+        }
+
     private fun <T> testSharedFlow(
         sharedFlow: MutableSharedFlow<T>,
         scenario: suspend ScenarioDsl<T>.() -> Unit
@@ -305,14 +330,23 @@ class SharedFlowScenarioTest : TestBase() {
             return TestJob(job, name)
         }
 
+        // collect ~== resumeCollecting + awaitCollected (for each value)
         suspend fun collect(job: TestJob, vararg a: T) {
             for (value in a) {
                 checkReplay() // should not have changed
-                addAction(ResumeCollecting(job))
-                awaitAction(Collected(job, value))
+                resumeCollecting(job)
+                awaitCollected(job, value)
             }
         }
 
+        suspend fun resumeCollecting(job: TestJob) {
+            addAction(ResumeCollecting(job))
+        }
+
+        suspend fun awaitCollected(job: TestJob, value: T) {
+            awaitAction(Collected(job, value))
+        }
+
         fun stop() {
             log("--- stop")
             scope.cancel()