diff --git a/lib/elixir/src/elixir.erl b/lib/elixir/src/elixir.erl
index 352c529dc61..169cf7c7134 100644
--- a/lib/elixir/src/elixir.erl
+++ b/lib/elixir/src/elixir.erl
@@ -64,6 +64,11 @@ start(_Type, _Args) ->
       application:set_env(elixir, ansi_enabled, prim_tty:isatty(stdout) == true)
   end,
 
+  %% Store the initial dbg_callback value before any runtime modifications.
+  %% This allows Mix compiler to detect config changes vs runtime changes
+  %% (e.g., Kino wrapping dbg_callback at runtime should not trigger recompilation).
+  {ok, InitialDbgCallback} = application:get_env(elixir, dbg_callback),
+
   Tokenizer = case code:ensure_loaded('Elixir.String.Tokenizer') of
     {module, Mod} -> Mod;
     _ -> elixir_tokenizer
@@ -90,6 +95,7 @@ start(_Type, _Args) ->
     {docs, true},
     {ignore_already_consolidated, false},
     {ignore_module_conflict, false},
+    {initial_dbg_callback, InitialDbgCallback},
     {infer_signatures, [elixir]},
     {on_undefined_variable, raise},
     {parser_options, [{columns, true}]},
diff --git a/lib/mix/lib/mix/compilers/elixir.ex b/lib/mix/lib/mix/compilers/elixir.ex
index 8a25b7aa647..74e405ee27c 100644
--- a/lib/mix/lib/mix/compilers/elixir.ex
+++ b/lib/mix/lib/mix/compilers/elixir.ex
@@ -287,7 +287,13 @@ defmodule Mix.Compilers.Elixir do
   end
 
   defp deps_config_compile_env_apps(deps_config) do
-    if deps_config[:dbg] != Application.fetch_env!(:elixir, :dbg_callback) do
+    # Use initial_dbg_callback instead of dbg_callback to ignore runtime modifications.
+    # Tools like Kino modify dbg_callback at runtime to customize dbg/2 behavior,
+    # but this should not trigger recompilation since the config hasn't actually changed.
+    # initial_dbg_callback is set when :elixir app starts, before any runtime modifications.
+    initial_dbg = :elixir_config.get(:initial_dbg_callback)
+
+    if deps_config[:dbg] != initial_dbg do
       [:elixir]
     else
       []
diff --git a/lib/mix/test/mix/tasks/compile.elixir_test.exs b/lib/mix/test/mix/tasks/compile.elixir_test.exs
index fdfccdef4b6..2a36f35d394 100644
--- a/lib/mix/test/mix/tasks/compile.elixir_test.exs
+++ b/lib/mix/test/mix/tasks/compile.elixir_test.exs
@@ -278,9 +278,11 @@ defmodule Mix.Tasks.Compile.ElixirTest do
       assert_received {:mix_shell, :info, ["Compiled lib/a.ex"]}
       assert_received {:mix_shell, :info, ["Compiled lib/b.ex"]}
 
-      # Change the dbg_callback at runtime
+      # Simulate a config change by updating both dbg_callback and initial_dbg_callback.
+      # This represents the case where the user actually changed the config file.
       File.touch!("_build/dev/lib/sample/.mix/compile.elixir", @old_time)
       Application.put_env(:elixir, :dbg_callback, {__MODULE__, :dbg, []})
+      :elixir_config.put(:initial_dbg_callback, {__MODULE__, :dbg, []})
 
       assert Mix.Tasks.Compile.Elixir.run(["--verbose"]) == {:ok, []}
       assert_received {:mix_shell, :info, ["Compiled lib/a.ex"]}
@@ -289,6 +291,35 @@ defmodule Mix.Tasks.Compile.ElixirTest do
     end)
   after
     Application.put_env(:elixir, :dbg_callback, {Macro, :dbg, []})
+    :elixir_config.put(:initial_dbg_callback, {Macro, :dbg, []})
+  end
+
+  test "does not recompile when dbg_callback is modified at runtime but initial is unchanged" do
+    in_fixture("no_mixfile", fn ->
+      Mix.Project.push(MixTest.Case.Sample)
+
+      File.write!("lib/a.ex", """
+      defmodule A do
+        def a, do: dbg(:ok)
+      end
+      """)
+
+      assert Mix.Tasks.Compile.Elixir.run(["--verbose"]) == {:ok, []}
+      assert_received {:mix_shell, :info, ["Compiled lib/a.ex"]}
+
+      # Simulate a tool like Kino modifying dbg_callback at runtime.
+      # Since initial_dbg_callback remains unchanged, this should NOT trigger recompilation.
+      original_dbg = Application.fetch_env!(:elixir, :dbg_callback)
+      :elixir_config.put(:initial_dbg_callback, original_dbg)
+      Application.put_env(:elixir, :dbg_callback, {SomeDebugTool, :dbg, [original_dbg]})
+
+      # Should NOT trigger recompilation since initial_dbg_callback is unchanged
+      assert Mix.Tasks.Compile.Elixir.run(["--verbose"]) == {:noop, []}
+      refute_received {:mix_shell, :info, ["Compiled lib/a.ex"]}
+    end)
+  after
+    Application.put_env(:elixir, :dbg_callback, {Macro, :dbg, []})
+    :elixir_config.put(:initial_dbg_callback, {Macro, :dbg, []})
   end
 
   test "recompiles files when config changes export dependencies" do