diff --git a/src/Microsoft.CodeAnalysis.NetAnalyzers/src/Microsoft.CodeAnalysis.NetAnalyzers/Microsoft.NetCore.Analyzers/Performance/AvoidPotentiallyExpensiveCallWhenLogging.cs b/src/Microsoft.CodeAnalysis.NetAnalyzers/src/Microsoft.CodeAnalysis.NetAnalyzers/Microsoft.NetCore.Analyzers/Performance/AvoidPotentiallyExpensiveCallWhenLogging.cs
index 4253d721e3b4..3ffe186216c9 100644
--- a/src/Microsoft.CodeAnalysis.NetAnalyzers/src/Microsoft.CodeAnalysis.NetAnalyzers/Microsoft.NetCore.Analyzers/Performance/AvoidPotentiallyExpensiveCallWhenLogging.cs
+++ b/src/Microsoft.CodeAnalysis.NetAnalyzers/src/Microsoft.CodeAnalysis.NetAnalyzers/Microsoft.NetCore.Analyzers/Performance/AvoidPotentiallyExpensiveCallWhenLogging.cs
@@ -404,11 +404,53 @@ bool IsIsEnabledInvocation(IInvocationOperation invocation)
                         invocation.TargetMethod.IsOverrideOrImplementationOfInterfaceMember(_isEnabledMethod);
                 }
 
-                static bool AreInvocationsOnSameInstance(IInvocationOperation invocation1, IInvocationOperation invocation2)
+                bool AreInvocationsOnSameInstance(IInvocationOperation invocation1, IInvocationOperation invocation2)
                 {
-                    return SymbolEqualityComparer.Default.Equals(
-                        GetInstanceResolvingConditionalAccess(invocation1).GetReferencedMemberOrLocalOrParameter(),
-                        GetInstanceResolvingConditionalAccess(invocation2).GetReferencedMemberOrLocalOrParameter());
+                    var instance1 = GetInstanceResolvingConditionalAccess(invocation1).GetReferencedMemberOrLocalOrParameter();
+                    var instance2 = GetInstanceResolvingConditionalAccess(invocation2).GetReferencedMemberOrLocalOrParameter();
+
+                    if (SymbolEqualityComparer.Default.Equals(instance1, instance2))
+                    {
+                        return true;
+                    }
+
+                    if (invocation1.TargetMethod.GetAttribute(_loggerMessageAttributeType) is null)
+                    {
+                        return false;
+                    }
+
+                    var method = invocation1.TargetMethod;
+                    var loggerParameter = method.Parameters.FirstOrDefault(p =>
+                        SymbolEqualityComparer.Default.Equals(p.Type, _logMethod.ContainingType) ||
+                        p.Type.AllInterfaces.Any(i => SymbolEqualityComparer.Default.Equals(i, _logMethod.ContainingType)));
+
+                    if (loggerParameter is not null)
+                    {
+                        var argument = invocation1.Arguments.GetArgumentForParameterAtIndex(loggerParameter.Ordinal);
+                        if (SymbolEqualityComparer.Default.Equals(argument?.Value.GetReferencedMemberOrLocalOrParameter(), instance2))
+                        {
+                            return true;
+                        }
+                    }
+                    else if (!method.IsStatic)
+                    {
+                        if (!SymbolEqualityComparer.Default.Equals(instance2?.ContainingType, method.ContainingType))
+                        {
+                            return false;
+                        }
+
+                        // This is a heuristic, if a call to LoggerMessage is guarded by an IsEnabled check in
+                        // the same class, it is assumed they use the same logger instance. This would lead to
+                        // false negatives if this isn't the case.
+                        switch (instance2)
+                        {
+                            case IFieldSymbol or IPropertySymbol:
+                            case IParameterSymbol { ContainingSymbol: IMethodSymbol { MethodKind: MethodKind.Constructor } }:
+                                return true;
+                        }
+                    }
+
+                    return false;
                 }
 
                 static IOperation? GetInstanceResolvingConditionalAccess(IInvocationOperation invocation)
diff --git a/src/Microsoft.CodeAnalysis.NetAnalyzers/tests/Microsoft.CodeAnalysis.NetAnalyzers.UnitTests/Microsoft.NetCore.Analyzers/Performance/AvoidPotentiallyExpensiveCallWhenLoggingTests.cs b/src/Microsoft.CodeAnalysis.NetAnalyzers/tests/Microsoft.CodeAnalysis.NetAnalyzers.UnitTests/Microsoft.NetCore.Analyzers/Performance/AvoidPotentiallyExpensiveCallWhenLoggingTests.cs
index e6a6aeba9899..5fb03737fd09 100644
--- a/src/Microsoft.CodeAnalysis.NetAnalyzers/tests/Microsoft.CodeAnalysis.NetAnalyzers.UnitTests/Microsoft.NetCore.Analyzers/Performance/AvoidPotentiallyExpensiveCallWhenLoggingTests.cs
+++ b/src/Microsoft.CodeAnalysis.NetAnalyzers/tests/Microsoft.CodeAnalysis.NetAnalyzers.UnitTests/Microsoft.NetCore.Analyzers/Performance/AvoidPotentiallyExpensiveCallWhenLoggingTests.cs
@@ -6162,6 +6162,39 @@ void M(ILogger logger, Exception exception)
             await VerifyCSharpDiagnosticAsync(source, editorConfigText: editorconfig);
         }
 
+        [Fact]
+        public async Task GuardedLoggerMessage_NoDiagnostic_CS()
+        {
+             string source = """
+                using System;
+                using Microsoft.Extensions.Logging;
+
+                sealed partial class Class1(ILogger<Class1> logger)
+                {
+                    public void M()
+                    {
+                        if (logger.IsEnabled(LogLevel.Information))
+                        {
+                            Log(LogLevel.Information, Guid.NewGuid());
+                        }
+
+                        if (logger.IsEnabled(LogLevel.Information))
+                        {
+                            Log(logger, LogLevel.Information, Guid.NewGuid());
+                        }
+                    }
+
+                    [LoggerMessage(EventId = 0, Message = "{Id}")]
+                    partial void Log(LogLevel logLevel, Guid id);
+
+                    [LoggerMessage(EventId = 1, Message = "{Id}")]
+                    static partial void Log(ILogger logger, LogLevel logLevel, Guid id);
+                }
+                """;
+
+            await VerifyCSharpDiagnosticAsync(source, CodeAnalysis.CSharp.LanguageVersion.CSharp12);
+        }
+
         // Helpers
 
         private static async Task VerifyCSharpDiagnosticAsync([StringSyntax($"{LanguageNames.CSharp}-Test")] string source, CodeAnalysis.CSharp.LanguageVersion? languageVersion = null, (string, string)? editorConfigText = null)