diff --git a/.changeset/warm-ducks-check.md b/.changeset/warm-ducks-check.md
new file mode 100644
index 000000000..fe20bed7f
--- /dev/null
+++ b/.changeset/warm-ducks-check.md
@@ -0,0 +1,5 @@
+---
+'@gitbook/react-openapi': patch
+---
+
+Replace $ref with $reference in json-decycle
diff --git a/bun.lock b/bun.lock
index 0e59b1dbd..60e9df304 100644
--- a/bun.lock
+++ b/bun.lock
@@ -241,7 +241,6 @@
         "@scalar/oas-utils": "^0.2.120",
         "clsx": "^2.1.1",
         "flatted": "^3.2.9",
-        "json-decycle": "^4.0.0",
         "json-xml-parse": "^1.3.0",
         "react-aria": "^3.37.0",
         "react-aria-components": "^1.6.0",
@@ -2070,8 +2069,6 @@
 
     "json-buffer": ["json-buffer@3.0.0", "", {}, "sha512-CuUqjv0FUZIdXkHPI8MezCnFCdaTAacej1TZYulLoAg1h/PhwkdXFN4V/gzY4g+fMBCOV2xF+rp7t2XD2ns/NQ=="],
 
-    "json-decycle": ["json-decycle@4.0.0", "", {}, "sha512-3GFL/vWazCbMu1kw+NdIfAHh6Ugq5pxkKcSUnK1f/Fw1nDtt1i+BiBfRJs0iPEKscYAz4k4+osvgjY95hmuJXQ=="],
-
     "json-parse-even-better-errors": ["json-parse-even-better-errors@2.3.1", "", {}, "sha512-xyFwyhro/JEof6Ghe2iz2NcXoj2sloNsWr/XsERDK/oiPCfaNhl5ONfp+jQdAZRQQ0IJWNzH9zIZF7li91kh2w=="],
 
     "json-schema": ["json-schema@0.4.0", "", {}, "sha512-es94M3nTIfsEPisRafak+HDLfHXnKBhV3vU5eqPcS3flIWqcxJWgXHXiey3YrpaNsanY5ei1VoYEbOzijuq9BA=="],
diff --git a/packages/react-openapi/package.json b/packages/react-openapi/package.json
index d5f0ddf37..15ede1ffd 100644
--- a/packages/react-openapi/package.json
+++ b/packages/react-openapi/package.json
@@ -16,7 +16,6 @@
         "@scalar/oas-utils": "^0.2.120",
         "clsx": "^2.1.1",
         "flatted": "^3.2.9",
-        "json-decycle": "^4.0.0",
         "json-xml-parse": "^1.3.0",
         "react-aria-components": "^1.6.0",
         "react-aria": "^3.37.0",
diff --git a/packages/react-openapi/src/OpenAPISchema.tsx b/packages/react-openapi/src/OpenAPISchema.tsx
index 65ee7c546..a012a1ec5 100644
--- a/packages/react-openapi/src/OpenAPISchema.tsx
+++ b/packages/react-openapi/src/OpenAPISchema.tsx
@@ -6,10 +6,10 @@ import type { OpenAPIV3 } from '@gitbook/openapi-parser';
 import { useId } from 'react';
 
 import clsx from 'clsx';
-import { retrocycle } from 'json-decycle';
 import { Markdown } from './Markdown';
 import { OpenAPIDisclosure } from './OpenAPIDisclosure';
 import { OpenAPISchemaName } from './OpenAPISchemaName';
+import { retrocycle } from './decycle';
 import type { OpenAPIClientContext } from './types';
 import { checkIsReference, resolveDescription, resolveFirstExample } from './utils';
 
@@ -122,7 +122,7 @@ export function OpenAPISchemaPropertiesFromServer(props: {
     return (
         <OpenAPISchemaProperties
             id={props.id}
-            properties={safeJSONParse(props.properties)}
+            properties={JSON.parse(props.properties, retrocycle())}
             context={props.context}
         />
     );
@@ -172,7 +172,12 @@ export function OpenAPIRootSchemaFromServer(props: {
     schema: string;
     context: OpenAPIClientContext;
 }) {
-    return <OpenAPIRootSchema schema={safeJSONParse(props.schema)} context={props.context} />;
+    return (
+        <OpenAPIRootSchema
+            schema={JSON.parse(props.schema, retrocycle())}
+            context={props.context}
+        />
+    );
 }
 
 /**
@@ -460,19 +465,3 @@ function getDisclosureLabel(schema: OpenAPIV3.SchemaObject): string {
 
     return schema.title || 'child attributes';
 }
-
-/**
- * Safely parse a JSON string using retrocycle.
- * If parsing fails, it falls back to standard JSON.parse.
- */
-function safeJSONParse(jsonString: string) {
-    try {
-        return JSON.parse(jsonString, retrocycle());
-    } catch {
-        try {
-            return JSON.parse(jsonString);
-        } catch (fallbackError) {
-            throw new Error(`Failed to parse JSON string: ${fallbackError}`);
-        }
-    }
-}
diff --git a/packages/react-openapi/src/OpenAPISchemaServer.tsx b/packages/react-openapi/src/OpenAPISchemaServer.tsx
index 877d378d6..d2396c705 100644
--- a/packages/react-openapi/src/OpenAPISchemaServer.tsx
+++ b/packages/react-openapi/src/OpenAPISchemaServer.tsx
@@ -1,10 +1,10 @@
 import type { OpenAPIV3 } from '@gitbook/openapi-parser';
-import { decycle } from 'json-decycle';
 import {
     OpenAPIRootSchemaFromServer,
     OpenAPISchemaPropertiesFromServer,
     type OpenAPISchemaPropertyEntry,
 } from './OpenAPISchema';
+import { decycle } from './decycle';
 import type { OpenAPIClientContext } from './types';
 
 export function OpenAPISchemaProperties(props: {
diff --git a/packages/react-openapi/src/decycle.ts b/packages/react-openapi/src/decycle.ts
new file mode 100644
index 000000000..bb2da6a8f
--- /dev/null
+++ b/packages/react-openapi/src/decycle.ts
@@ -0,0 +1,68 @@
+// Forked from: https://github.com/YChebotaev/json-decycle/blob/master/src/index.ts
+// Replaced `$ref` with `$reference` to avoid conflicts with OpenAPI
+
+const isObject = (value: any): value is object =>
+    typeof value === 'object' &&
+    value != null &&
+    !(value instanceof Boolean) &&
+    !(value instanceof Date) &&
+    !(value instanceof Number) &&
+    !(value instanceof RegExp) &&
+    !(value instanceof String);
+
+const toPointer = (parts: string[]) =>
+    `#${parts.map((part) => String(part).replace(/~/g, '~0').replace(/\//g, '~1')).join('/')}`;
+
+export const decycle = () => {
+    const paths = new WeakMap();
+
+    return function replacer(this: any, key: string | symbol, value: any) {
+        if (key !== '$reference' && isObject(value)) {
+            const seen = paths.has(value);
+
+            if (seen) {
+                return { $reference: toPointer(paths.get(value)) };
+            }
+
+            paths.set(value, [...(paths.get(this) ?? []), key]);
+        }
+
+        return value;
+    };
+};
+
+export function retrocycle() {
+    const parents = new WeakMap();
+    const keys = new WeakMap();
+    const refs = new Set();
+
+    function dereference(this: { [k: string]: any }, ref: { $reference: string }) {
+        const parts = ref.$reference.slice(1).split('/');
+        let key: any;
+        let value = this;
+
+        for (let i = 0; i < parts.length; i++) {
+            key = parts[i]?.replace(/~1/g, '/').replace(/~0/g, '~');
+            value = value[key];
+        }
+
+        const parent = parents.get(ref);
+        parent[keys.get(ref)] = value;
+    }
+
+    return function reviver(this: object, key: string | symbol, value: any) {
+        if (key === '$reference') {
+            refs.add(this);
+        } else if (isObject(value)) {
+            const isRoot = key === '' && Object.keys(this).length === 1;
+            if (isRoot) {
+                refs.forEach(dereference as any, this);
+            } else {
+                parents.set(value, this);
+                keys.set(value, key);
+            }
+        }
+
+        return value;
+    };
+}