diff --git a/src/cargo/sources/registry/mod.rs b/src/cargo/sources/registry/mod.rs
index 477e7ce6c773..e901a4d27fb7 100644
--- a/src/cargo/sources/registry/mod.rs
+++ b/src/cargo/sources/registry/mod.rs
@@ -779,6 +779,7 @@ impl<'cfg> Source for RegistrySource<'cfg> {
                 Poll::Pending
             }
         } else {
+            let mut precise_yanked_in_use = false;
             ready!(self
                 .index
                 .query_inner(dep.package_name(), &req, &mut *self.ops, &mut |s| {
@@ -786,15 +787,38 @@ impl<'cfg> Source for RegistrySource<'cfg> {
                         QueryKind::Exact => dep.matches(s.as_summary()),
                         QueryKind::Fuzzy => true,
                     };
+                    if !matched {
+                        return;
+                    }
                     // Next filter out all yanked packages. Some yanked packages may
                     // leak through if they're in a whitelist (aka if they were
                     // previously in `Cargo.lock`
-                    if matched
-                        && (!s.is_yanked() || self.yanked_whitelist.contains(&s.package_id()))
-                    {
+                    if !s.is_yanked() {
+                        callback(s);
+                    } else if self.yanked_whitelist.contains(&s.package_id()) {
                         callback(s);
+                    } else if req.is_precise() {
+                        precise_yanked_in_use = true;
+                        if self.config.cli_unstable().unstable_options {
+                            callback(s);
+                        }
                     }
                 }))?;
+            if precise_yanked_in_use {
+                self.config
+                    .cli_unstable()
+                    .fail_if_stable_opt("--precise <yanked-version>", 4225)?;
+                let name = dep.package_name();
+                let version = req
+                    .precise_version()
+                    .expect("--precise <yanked-version> in use");
+                let mut shell = self.config.shell();
+                shell.warn(format_args!(
+                    "a yanked package `{name}@{version}` is requested by the `--precise` flag",
+                ))?;
+                shell.note("it is not recommended to depend on a yanked version")?;
+                shell.note("if possible, try other SemVer-compatbile versions")?;
+            }
             if called {
                 return Poll::Ready(Ok(()));
             }
diff --git a/src/cargo/util/semver_ext.rs b/src/cargo/util/semver_ext.rs
index dcf680a509b2..ae32483f3f3d 100644
--- a/src/cargo/util/semver_ext.rs
+++ b/src/cargo/util/semver_ext.rs
@@ -87,6 +87,18 @@ impl OptVersionReq {
         };
     }
 
+    pub fn is_precise(&self) -> bool {
+        matches!(self, OptVersionReq::Precise(..))
+    }
+
+    /// Gets the version to which this req is precise to, if any.
+    pub fn precise_version(&self) -> Option<&Version> {
+        match self {
+            OptVersionReq::Precise(version, _) => Some(version),
+            _ => None,
+        }
+    }
+
     pub fn is_locked(&self) -> bool {
         matches!(self, OptVersionReq::Locked(..))
     }
diff --git a/tests/testsuite/update.rs b/tests/testsuite/update.rs
index fe2df05b955c..684a85b089ee 100644
--- a/tests/testsuite/update.rs
+++ b/tests/testsuite/update.rs
@@ -1400,10 +1400,34 @@ fn precise_yanked() {
         .with_stderr(
             "\
 [UPDATING] `dummy-registry` index
-[ERROR] no matching package named `bar` found
-location searched: registry `crates-io`
-required by package `foo v0.0.0 ([CWD])`
+[ERROR] failed to get `bar` as a dependency of package `foo v0.0.0 ([CWD])`
+
+Caused by:
+  failed to query replaced source registry `crates-io`
+
+Caused by:
+  the `--precise <yanked-version>` flag is unstable[..]
+  See [..]
+  See [..]
+",
+        )
+        .run();
+
+    p.cargo("update --precise 0.1.1 bar")
+        .masquerade_as_nightly_cargo(&["--precise <yanked-version>"])
+        .arg("-Zunstable-options")
+        .with_stderr(
+            "\
+[UPDATING] `dummy-registry` index
+[WARNING] a yanked package `bar@0.1.1` is requested by the `--precise` flag
+[NOTE] it is not recommended to depend on a yanked version
+[NOTE] if possible, try other SemVer-compatbile versions
+[UPDATING] bar v0.1.0 -> v0.1.1
 ",
         )
-        .run()
+        .run();
+
+    // Use yanked version.
+    let lockfile = p.read_lockfile();
+    assert!(lockfile.contains("\nname = \"bar\"\nversion = \"0.1.1\""));
 }