diff --git a/packages/typescript/README.md b/packages/typescript/README.md
index 8350f9aa8..340f5cd3b 100644
--- a/packages/typescript/README.md
+++ b/packages/typescript/README.md
@@ -125,7 +125,7 @@ typescript({
 
 ### `transformers`
 
-Type: `{ [before | after | afterDeclarations]: TransformerFactory[] }`<br>
+Type: `{ [before | after | afterDeclarations]: TransformerFactory[] } | ((program: ts.Program) => ts.CustomTransformers)`<br>
 Default: `undefined`
 
 Allows registration of TypeScript custom transformers at any of the supported stages:
@@ -199,6 +199,48 @@ typescript({
 });
 ```
 
+Alternatively, the transformers can be created inside a factory.
+
+Supported transformer factories:
+
+- all **built-in** TypeScript custom transformer factories:
+
+  - `import('typescript').TransformerFactory` annotated **TransformerFactory** bellow
+  - `import('typescript').CustomTransformerFactory` annotated **CustomTransformerFactory** bellow
+
+The example above could be written like this:
+
+```js
+typescript({
+  transformers: function (program) {
+    return {
+      before: [
+        ProgramRequiringTransformerFactory(program),
+        TypeCheckerRequiringTransformerFactory(program.getTypeChecker())
+      ],
+      after: [
+        // You can use normal transformers directly
+        require('custom-transformer-based-on-Context')
+      ],
+      afterDeclarations: [
+        // Or even define in place
+        function fixDeclarationFactory(context) {
+          return function fixDeclaration(source) {
+            function visitor(node) {
+              // Do real work here
+
+              return ts.visitEachChild(node, visitor, context);
+            }
+
+            return ts.visitEachChild(source, visitor, context);
+          };
+        }
+      ]
+    };
+  }
+});
+```
+
 ### `cacheDir`
 
 Type: `String`<br>
diff --git a/packages/typescript/src/moduleResolution.ts b/packages/typescript/src/moduleResolution.ts
index 97aa01e79..779e0304a 100644
--- a/packages/typescript/src/moduleResolution.ts
+++ b/packages/typescript/src/moduleResolution.ts
@@ -20,7 +20,9 @@ export type Resolver = (
 
 /**
  * Create a helper for resolving modules using Typescript.
- * @param host Typescript host that extends `ModuleResolutionHost`
+ * @param ts custom typescript implementation
+ * @param host Typescript host that extends {@link ModuleResolutionHost}
+ * @param filter
  * with methods for sanitizing filenames and getting compiler options.
  */
 export default function createModuleResolver(
diff --git a/packages/typescript/src/options/tsconfig.ts b/packages/typescript/src/options/tsconfig.ts
index 74d04ee9c..4ebc12675 100644
--- a/packages/typescript/src/options/tsconfig.ts
+++ b/packages/typescript/src/options/tsconfig.ts
@@ -45,6 +45,7 @@ function makeForcedCompilerOptions(noForceEmit: boolean) {
 
 /**
  * Finds the path to the tsconfig file relative to the current working directory.
+ * @param ts Custom typescript implementation
  * @param relativePath Relative tsconfig path given by the user.
  * If `false` is passed, then a null path is returned.
  * @returns The absolute path, or null if the file does not exist.
@@ -69,9 +70,8 @@ function getTsConfigPath(ts: typeof typescript, relativePath?: string | false) {
 
 /**
  * Tries to read the tsconfig file at `tsConfigPath`.
+ * @param ts Custom typescript implementation
  * @param tsConfigPath Absolute path to tsconfig JSON file.
- * @param explicitPath If true, the path was set by the plugin user.
- * If false, the path was computed automatically.
  */
 function readTsConfigFile(ts: typeof typescript, tsConfigPath: string) {
   const { config, error } = ts.readConfigFile(tsConfigPath, (path) => readFileSync(path, 'utf8'));
@@ -122,13 +122,14 @@ function setModuleResolutionKind(parsedConfig: ParsedCommandLine): ParsedCommand
   };
 }
 
-const configCache = new Map() as typescript.Map<ExtendedConfigCacheEntry>;
+const configCache = new Map() as typescript.ESMap<string, ExtendedConfigCacheEntry>;
 
 /**
  * Parse the Typescript config to use with the plugin.
  * @param ts Typescript library instance.
  * @param tsconfig Path to the tsconfig file, or `false` to ignore the file.
  * @param compilerOptions Options passed to the plugin directly for Typescript.
+ * @param noForceEmit Whether to respect emit options from {@link tsconfig}
  *
  * @returns Parsed tsconfig.json file with some important properties:
  * - `options`: Parsed compiler options.
diff --git a/packages/typescript/src/watchProgram.ts b/packages/typescript/src/watchProgram.ts
index 07bf25d18..9ad50f647 100644
--- a/packages/typescript/src/watchProgram.ts
+++ b/packages/typescript/src/watchProgram.ts
@@ -1,9 +1,11 @@
 import type { PluginContext } from 'rollup';
 import typescript from 'typescript';
 import type {
+  CustomTransformers,
   Diagnostic,
   EmitAndSemanticDiagnosticsBuilderProgram,
   ParsedCommandLine,
+  Program,
   WatchCompilerHostOfFilesAndCompilerOptions,
   WatchStatusReporter,
   WriteFileCallback
@@ -39,7 +41,7 @@ interface CreateProgramOptions {
   /** Function to resolve a module location */
   resolveModule: Resolver;
   /** Custom TypeScript transformers */
-  transformers?: CustomTransformerFactories;
+  transformers?: CustomTransformerFactories | ((program: Program) => CustomTransformers);
 }
 
 type DeferredResolve = ((value: boolean | PromiseLike<boolean>) => void) | (() => void);
@@ -155,22 +157,36 @@ function createWatchHost(
     parsedOptions.projectReferences
   );
 
+  let createdTransformers: CustomTransformers | undefined;
   return {
     ...baseHost,
     /** Override the created program so an in-memory emit is used */
     afterProgramCreate(program) {
       const origEmit = program.emit;
       // eslint-disable-next-line no-param-reassign
-      program.emit = (targetSourceFile, _, ...args) =>
-        origEmit(
+      program.emit = (
+        targetSourceFile,
+        _,
+        cancellationToken,
+        emitOnlyDtsFiles,
+        customTransformers
+      ) => {
+        createdTransformers ??=
+          typeof transformers === 'function'
+            ? transformers(program.getProgram())
+            : mergeTransformers(
+                program,
+                transformers,
+                customTransformers as CustomTransformerFactories
+              );
+        return origEmit(
           targetSourceFile,
           writeFile,
-          // cancellationToken
-          args[0],
-          // emitOnlyDtsFiles
-          args[1],
-          mergeTransformers(program, transformers, args[2] as CustomTransformerFactories)
+          cancellationToken,
+          emitOnlyDtsFiles,
+          createdTransformers
         );
+      };
 
       return baseHost.afterProgramCreate!(program);
     },
diff --git a/packages/typescript/test/test.js b/packages/typescript/test/test.js
index 127f98e19..bcc83c82e 100644
--- a/packages/typescript/test/test.js
+++ b/packages/typescript/test/test.js
@@ -1236,6 +1236,119 @@ test('supports custom transformers', async (t) => {
   );
 });
 
+test('supports passing a custom transformers factory', async (t) => {
+  const warnings = [];
+
+  let program = null;
+  let typeChecker = null;
+
+  const bundle = await rollup({
+    input: 'fixtures/transformers/main.ts',
+    plugins: [
+      typescript({
+        tsconfig: 'fixtures/transformers/tsconfig.json',
+        outDir: 'fixtures/transformers/dist',
+        declaration: true,
+        transformers: (p) => {
+          program = p;
+          typeChecker = p.getTypeChecker();
+          return {
+            before: [
+              function removeOneParameterFactory(context) {
+                return function removeOneParameter(source) {
+                  function visitor(node) {
+                    if (ts.isArrowFunction(node)) {
+                      return ts.factory.createArrowFunction(
+                        node.modifiers,
+                        node.typeParameters,
+                        [node.parameters[0]],
+                        node.type,
+                        node.equalsGreaterThanToken,
+                        node.body
+                      );
+                    }
+
+                    return ts.visitEachChild(node, visitor, context);
+                  }
+
+                  return ts.visitEachChild(source, visitor, context);
+                };
+              }
+            ],
+            after: [
+              // Enforce a constant numeric output
+              function enforceConstantReturnFactory(context) {
+                return function enforceConstantReturn(source) {
+                  function visitor(node) {
+                    if (ts.isReturnStatement(node)) {
+                      return ts.factory.createReturnStatement(ts.factory.createNumericLiteral('1'));
+                    }
+
+                    return ts.visitEachChild(node, visitor, context);
+                  }
+
+                  return ts.visitEachChild(source, visitor, context);
+                };
+              }
+            ],
+            afterDeclarations: [
+              // Change the return type to numeric
+              function fixDeclarationFactory(context) {
+                return function fixDeclaration(source) {
+                  function visitor(node) {
+                    if (ts.isFunctionTypeNode(node)) {
+                      return ts.factory.createFunctionTypeNode(
+                        node.typeParameters,
+                        [node.parameters[0]],
+                        ts.factory.createKeywordTypeNode(ts.SyntaxKind.NumberKeyword)
+                      );
+                    }
+
+                    return ts.visitEachChild(node, visitor, context);
+                  }
+
+                  return ts.visitEachChild(source, visitor, context);
+                };
+              }
+            ]
+          };
+        }
+      })
+    ],
+    onwarn(warning) {
+      warnings.push(warning);
+    }
+  });
+
+  const output = await getCode(bundle, { format: 'esm', dir: 'fixtures/transformers' }, true);
+
+  t.is(warnings.length, 0);
+  t.deepEqual(
+    output.map((out) => out.fileName),
+    ['main.js', 'dist/main.d.ts']
+  );
+
+  // Expect the function to have one less arguments from before transformer and return 1 from after transformer
+  t.true(output[0].code.includes('var HashFn = function (val) { return 1; };'), output[0].code);
+
+  // Expect the definition file to reflect the resulting function type after transformer modifications
+  t.true(
+    output[1].source.includes('export declare const HashFn: (val: string) => number;'),
+    output[1].source
+  );
+
+  // Expect a Program to have been forwarded for transformers with custom factories requesting one
+  t.deepEqual(program && program.emit && typeof program.emit === 'function', true);
+
+  // Expect a TypeChecker to have been forwarded for transformers with custom factories requesting one
+  t.deepEqual(
+    typeChecker &&
+      typeChecker.getTypeAtLocation &&
+      typeof typeChecker.getTypeAtLocation === 'function',
+    true
+  );
+});
+
 // This test randomly fails with a segfault directly at the first "await waitForWatcherEvent" before any event occurred.
 // Skipping it until we can figure out what the cause is.
 test.serial.skip('picks up on newly included typescript files in watch mode', async (t) => {
diff --git a/packages/typescript/types/index.d.ts b/packages/typescript/types/index.d.ts
index 6d4a30f00..4db1c5d06 100644
--- a/packages/typescript/types/index.d.ts
+++ b/packages/typescript/types/index.d.ts
@@ -75,7 +75,7 @@ export interface RollupTypescriptPluginOptions {
   /**
    * TypeScript custom transformers
    */
-  transformers?: CustomTransformerFactories;
+  transformers?: CustomTransformerFactories | ((program: Program) => CustomTransformers);
   /**
    * When set to false, force non-cached files to always be emitted in the output directory.output
    * If not set, will default to true with a warning.