diff --git a/packages/react-native/Libraries/Image/RCTImageLoader.mm b/packages/react-native/Libraries/Image/RCTImageLoader.mm
index d6db050e35c..68a12d35122 100644
--- a/packages/react-native/Libraries/Image/RCTImageLoader.mm
+++ b/packages/react-native/Libraries/Image/RCTImageLoader.mm
@@ -68,6 +68,8 @@ static NSError *addResponseHeadersToError(NSError *originalError, NSHTTPURLRespo
 @end
 
 @implementation RCTImageLoader {
+  std::atomic<BOOL> _isLoaderSetup;
+  std::mutex _loaderSetupLock;
   NSArray<id<RCTImageURLLoader>> * (^_loadersProvider)(RCTModuleRegistry *);
   NSArray<id<RCTImageDataDecoder>> * (^_decodersProvider)(RCTModuleRegistry *);
   NSArray<id<RCTImageURLLoader>> *_loaders;
@@ -106,6 +108,7 @@ RCT_EXPORT_MODULE()
 {
   if (self = [super init]) {
     _redirectDelegate = redirectDelegate;
+    _isLoaderSetup = NO;
   }
   return self;
 }
@@ -123,12 +126,16 @@ RCT_EXPORT_MODULE()
 
 - (void)setUp
 {
-  // Set defaults
-  _maxConcurrentLoadingTasks = _maxConcurrentLoadingTasks ?: 4;
-  _maxConcurrentDecodingTasks = _maxConcurrentDecodingTasks ?: 2;
-  _maxConcurrentDecodingBytes = _maxConcurrentDecodingBytes ?: 30 * 1024 * 1024; // 30MB
+  std::lock_guard<std::mutex> guard(_loaderSetupLock);
+  if (!_isLoaderSetup) {
+    // Set defaults
+    _maxConcurrentLoadingTasks = _maxConcurrentLoadingTasks ?: 4;
+    _maxConcurrentDecodingTasks = _maxConcurrentDecodingTasks ?: 2;
+    _maxConcurrentDecodingBytes = _maxConcurrentDecodingBytes ?: 30 * 1024 * 1024; // 30MB
 
-  _URLRequestQueue = dispatch_queue_create("com.facebook.react.ImageLoaderURLRequestQueue", DISPATCH_QUEUE_SERIAL);
+    _URLRequestQueue = dispatch_queue_create("com.facebook.react.ImageLoaderURLRequestQueue", DISPATCH_QUEUE_SERIAL);
+    _isLoaderSetup = YES;
+  }
 }
 
 - (float)handlerPriority
@@ -156,7 +163,7 @@ RCT_EXPORT_MODULE()
 
 - (id<RCTImageURLLoader>)imageURLLoaderForURL:(NSURL *)URL
 {
-  if (!_maxConcurrentLoadingTasks) {
+  if (!_isLoaderSetup) {
     [self setUp];
   }
 
@@ -229,7 +236,7 @@ RCT_EXPORT_MODULE()
 
 - (id<RCTImageDataDecoder>)imageDataDecoderForData:(NSData *)data
 {
-  if (!_maxConcurrentLoadingTasks) {
+  if (!_isLoaderSetup) {
     [self setUp];
   }
 
@@ -564,7 +571,7 @@ static UIImage *RCTResizeImageIfNeeded(UIImage *image, CGSize size, CGFloat scal
   }
 
   // All access to URL cache must be serialized
-  if (!_URLRequestQueue) {
+  if (!_isLoaderSetup) {
     [self setUp];
   }
 
@@ -979,7 +986,7 @@ static UIImage *RCTResizeImageIfNeeded(UIImage *image, CGSize size, CGFloat scal
       });
     };
 
-    if (!_URLRequestQueue) {
+    if (!_isLoaderSetup) {
       [self setUp];
     }
     dispatch_async(_URLRequestQueue, ^{