diff --git a/Libraries/Core/setUpPerformance.js b/Libraries/Core/setUpPerformance.js
index ef12f6c9ae1..c5f25890cdc 100644
--- a/Libraries/Core/setUpPerformance.js
+++ b/Libraries/Core/setUpPerformance.js
@@ -8,18 +8,29 @@
  * @format
  */
 
-if (!global.performance) {
-  global.performance = ({}: {now?: () => number});
-}
+import NativePerformance from '../WebPerformance/NativePerformance';
+import Performance from '../WebPerformance/Performance';
 
-/**
- * Returns a double, measured in milliseconds.
- * https://developer.mozilla.org/en-US/docs/Web/API/Performance/now
- */
-if (typeof global.performance.now !== 'function') {
-  // $FlowExpectedError[cannot-write] The global isn't writable anywhere but here, where we define it.
-  global.performance.now = function () {
-    const performanceNow = global.nativePerformanceNow || Date.now;
-    return performanceNow();
-  };
+// In case if the native implementation of the Performance API is available, use it,
+// otherwise fall back to the legacy/default one, which only defines 'Performance.now()'
+if (NativePerformance) {
+  // $FlowExpectedError[cannot-write]
+  global.performance = new Performance();
+} else {
+  if (!global.performance) {
+    // $FlowExpectedError[cannot-write]
+    global.performance = ({}: {now?: () => number});
+  }
+
+  /**
+   * Returns a double, measured in milliseconds.
+   * https://developer.mozilla.org/en-US/docs/Web/API/Performance/now
+   */
+  if (typeof global.performance.now !== 'function') {
+    // $FlowExpectedError[cannot-write]
+    global.performance.now = function () {
+      const performanceNow = global.nativePerformanceNow || Date.now;
+      return performanceNow();
+    };
+  }
 }
diff --git a/Libraries/Core/setUpWebPerformance.js b/Libraries/Core/setUpWebPerformance.js
deleted file mode 100644
index 333c5c57c1b..00000000000
--- a/Libraries/Core/setUpWebPerformance.js
+++ /dev/null
@@ -1,17 +0,0 @@
-/**
- * Copyright (c) Meta Platforms, Inc. and affiliates.
- *
- * This source code is licensed under the MIT license found in the
- * LICENSE file in the root directory of this source tree.
- *
- * @flow strict
- * @format
- */
-
-import Performance from '../WebPerformance/Performance';
-
-// TODO: Replace setUpPerformance with this once the WebPerformance API is stable (T143070419)
-export default function setUpPerformance() {
-  // $FlowExpectedError[cannot-write] The global isn't writable anywhere but here, where we define it.
-  global.performance = new Performance();
-}