diff --git a/packages/runtime-core/src/compat/__tests__/componentVModel.spec.ts b/packages/runtime-core/src/compat/__tests__/componentVModel.spec.ts
new file mode 100644
index 00000000..ed8dc418
--- /dev/null
+++ b/packages/runtime-core/src/compat/__tests__/componentVModel.spec.ts
@@ -0,0 +1,85 @@
+import Vue from '@vue/compat'
+import { ComponentOptions } from '../../component'
+import { nextTick } from '../../scheduler'
+import {
+  DeprecationTypes,
+  deprecationData,
+  toggleDeprecationWarning
+} from '../compatConfig'
+import { triggerEvent } from './utils'
+
+beforeEach(() => {
+  toggleDeprecationWarning(true)
+  Vue.configureCompat({
+    MODE: 2,
+    GLOBAL_MOUNT: 'suppress-warning'
+  })
+})
+
+afterEach(() => {
+  toggleDeprecationWarning(false)
+  Vue.configureCompat({ MODE: 3 })
+})
+
+describe('COMPONENT_V_MODEL', () => {
+  async function runTest(CustomInput: ComponentOptions) {
+    const vm = new Vue({
+      data() {
+        return {
+          text: 'foo'
+        }
+      },
+      components: { CustomInput },
+      template: `
+      <div>
+        <span>{{ text }}</span>
+        <custom-input v-model="text"></custom-input>
+      </div>
+      `
+    }).$mount() as any
+
+    const input = vm.$el.querySelector('input')
+    const span = vm.$el.querySelector('span')
+
+    expect(input.value).toBe('foo')
+    expect(span.textContent).toBe('foo')
+
+    expect(
+      (deprecationData[DeprecationTypes.COMPONENT_V_MODEL].message as Function)(
+        CustomInput
+      )
+    ).toHaveBeenWarned()
+
+    input.value = 'bar'
+    triggerEvent(input, 'input')
+    await nextTick()
+
+    expect(input.value).toBe('bar')
+    expect(span.textContent).toBe('bar')
+
+    vm.text = 'baz'
+    await nextTick()
+    expect(input.value).toBe('baz')
+    expect(span.textContent).toBe('baz')
+  }
+
+  test('basic usage', async () => {
+    await runTest({
+      name: 'CustomInput',
+      props: ['value'],
+      template: `<input :value="value" @input="$emit('input', $event.target.value)">`
+    })
+  })
+
+  test('with model option', async () => {
+    await runTest({
+      name: 'CustomInput',
+      props: ['input'],
+      model: {
+        prop: 'input',
+        event: 'update'
+      },
+      template: `<input :value="input" @input="$emit('update', $event.target.value)">`
+    })
+  })
+})
diff --git a/packages/runtime-core/src/compat/__tests__/globalConfig.spec.ts b/packages/runtime-core/src/compat/__tests__/globalConfig.spec.ts
index d7a7bc26..c5084d50 100644
--- a/packages/runtime-core/src/compat/__tests__/globalConfig.spec.ts
+++ b/packages/runtime-core/src/compat/__tests__/globalConfig.spec.ts
@@ -1,5 +1,6 @@
 import Vue from '@vue/compat'
 import { toggleDeprecationWarning } from '../compatConfig'
+import { triggerEvent } from './utils'
 
 beforeEach(() => {
   toggleDeprecationWarning(false)
@@ -11,18 +12,6 @@ afterEach(() => {
   toggleDeprecationWarning(false)
 })
 
-function triggerEvent(
-  target: Element,
-  event: string,
-  process?: (e: any) => any
-) {
-  const e = document.createEvent('HTMLEvents')
-  e.initEvent(event, true, true)
-  if (process) process(e)
-  target.dispatchEvent(e)
-  return e
-}
-
 // only testing config options that affect runtime behavior.
 
 test('GLOBAL_KEY_CODES', () => {
diff --git a/packages/runtime-core/src/compat/__tests__/misc.spec.ts b/packages/runtime-core/src/compat/__tests__/misc.spec.ts
index 21574ca3..8b10c121 100644
--- a/packages/runtime-core/src/compat/__tests__/misc.spec.ts
+++ b/packages/runtime-core/src/compat/__tests__/misc.spec.ts
@@ -5,6 +5,7 @@ import {
   deprecationData,
   toggleDeprecationWarning
 } from '../compatConfig'
+import { triggerEvent } from './utils'
 
 beforeEach(() => {
   toggleDeprecationWarning(true)
@@ -19,18 +20,6 @@ afterEach(() => {
   Vue.configureCompat({ MODE: 3 })
 })
 
-function triggerEvent(
-  target: Element,
-  event: string,
-  process?: (e: any) => any
-) {
-  const e = document.createEvent('HTMLEvents')
-  e.initEvent(event, true, true)
-  if (process) process(e)
-  target.dispatchEvent(e)
-  return e
-}
-
 test('WATCH_ARRAY', async () => {
   const spy = jest.fn()
   const vm = new Vue({
diff --git a/packages/runtime-core/src/compat/__tests__/utils.ts b/packages/runtime-core/src/compat/__tests__/utils.ts
new file mode 100644
index 00000000..bcf72b29
--- /dev/null
+++ b/packages/runtime-core/src/compat/__tests__/utils.ts
@@ -0,0 +1,11 @@
+export function triggerEvent(
+  target: Element,
+  event: string,
+  process?: (e: any) => any
+) {
+  const e = document.createEvent('HTMLEvents')
+  e.initEvent(event, true, true)
+  if (process) process(e)
+  target.dispatchEvent(e)
+  return e
+}
diff --git a/packages/runtime-core/src/compat/__tests__/vModel.spec.ts b/packages/runtime-core/src/compat/__tests__/vModel.spec.ts
deleted file mode 100644
index e69de29b..00000000
diff --git a/packages/runtime-core/src/compat/vModel.ts b/packages/runtime-core/src/compat/componentVModel.ts
similarity index 100%
rename from packages/runtime-core/src/compat/vModel.ts
rename to packages/runtime-core/src/compat/componentVModel.ts
diff --git a/packages/runtime-core/src/compat/renderFn.ts b/packages/runtime-core/src/compat/renderFn.ts
index c4dbcf29..ffbd34e7 100644
--- a/packages/runtime-core/src/compat/renderFn.ts
+++ b/packages/runtime-core/src/compat/renderFn.ts
@@ -37,7 +37,7 @@ import {
   DeprecationTypes,
   isCompatEnabled
 } from './compatConfig'
-import { compatModelEventPrefix } from './vModel'
+import { compatModelEventPrefix } from './componentVModel'
 
 const v3CompiledRenderFnRE = /^(?:function \w+)?\(_ctx, _cache/
 
diff --git a/packages/runtime-core/src/componentEmits.ts b/packages/runtime-core/src/componentEmits.ts
index d5e2cb9f..44f9765d 100644
--- a/packages/runtime-core/src/componentEmits.ts
+++ b/packages/runtime-core/src/componentEmits.ts
@@ -22,7 +22,10 @@ import { UnionToIntersection } from './helpers/typeUtils'
 import { devtoolsComponentEmit } from './devtools'
 import { AppContext } from './apiCreateApp'
 import { emit as compatInstanceEmit } from './compat/instanceEventEmitter'
-import { compatModelEventPrefix, compatModelEmit } from './compat/vModel'
+import {
+  compatModelEventPrefix,
+  compatModelEmit
+} from './compat/componentVModel'
 
 export type ObjectEmitsOptions = Record<
   string,
diff --git a/packages/runtime-core/src/vnode.ts b/packages/runtime-core/src/vnode.ts
index dc002225..930db771 100644
--- a/packages/runtime-core/src/vnode.ts
+++ b/packages/runtime-core/src/vnode.ts
@@ -42,7 +42,7 @@ import { NULL_DYNAMIC_COMPONENT } from './helpers/resolveAssets'
 import { hmrDirtyComponents } from './hmr'
 import { setCompiledSlotRendering } from './helpers/renderSlot'
 import { convertLegacyComponent } from './compat/component'
-import { convertLegacyVModelProps } from './compat/vModel'
+import { convertLegacyVModelProps } from './compat/componentVModel'
 import { defineLegacyVNodeProperties } from './compat/renderFn'
 import { convertLegacyRefInFor } from './compat/ref'