diff --git a/src/transform/plugins/includes/collect.ts b/src/transform/plugins/includes/collect.ts
index 1b5f16d7..72a62dce 100644
--- a/src/transform/plugins/includes/collect.ts
+++ b/src/transform/plugins/includes/collect.ts
@@ -1,7 +1,7 @@
 import {relative} from 'path';
 import {bold} from 'chalk';
 
-import {resolveRelativePath} from '../../utilsFS';
+import {isFileExists, resolveRelativePath} from '../../utilsFS';
 import {MarkdownItPluginOpts} from '../typings';
 
 const includesPaths: string[] = [];
@@ -23,9 +23,13 @@ const collect = (input: string, options: Opts) => {
         let [, , , relativePath] = match;
         const [matchedInclude] = match;
 
-        relativePath = relativePath.split('#')[0];
+        let includePath = resolveRelativePath(path, relativePath);
+        const hashIndex = relativePath.lastIndexOf('#');
+        if (hashIndex > -1 && !isFileExists(includePath)) {
+            includePath = includePath.slice(0, includePath.lastIndexOf('#'));
+            relativePath = relativePath.slice(0, hashIndex);
+        }
 
-        const includePath = resolveRelativePath(path, relativePath);
         const targetDestPath = resolveRelativePath(destPath, relativePath);
 
         if (includesPaths.includes(includePath)) {
diff --git a/src/transform/plugins/includes/index.ts b/src/transform/plugins/includes/index.ts
index c3732c31..534854be 100644
--- a/src/transform/plugins/includes/index.ts
+++ b/src/transform/plugins/includes/index.ts
@@ -1,6 +1,6 @@
 import {bold} from 'chalk';
 
-import {getFileTokens, GetFileTokensOpts, getFullIncludePath} from '../../utilsFS';
+import {getFileTokens, GetFileTokensOpts, getFullIncludePath, isFileExists} from '../../utilsFS';
 import {findBlockTokens} from '../../utils';
 import Token from 'markdown-it/lib/token';
 import {MarkdownItPluginCb, MarkdownItPluginOpts} from '../typings';
@@ -39,8 +39,15 @@ function unfoldIncludes(state: StateCore, path: string, options: Options) {
         ) {
             try {
                 const [, keyword /* description */, , includePath] = match;
+
                 const fullIncludePath = getFullIncludePath(includePath, root, path);
-                const [pathname, hash] = fullIncludePath.split('#');
+                let pathname = fullIncludePath;
+                let hash = '';
+                const hashIndex = fullIncludePath.lastIndexOf('#');
+                if (hashIndex > -1 && !isFileExists(pathname)) {
+                    pathname = fullIncludePath.slice(0, hashIndex);
+                    hash = fullIncludePath.slice(hashIndex + 1);
+                }
 
                 if (!pathname.startsWith(root)) {
                     i++;
diff --git a/test/anchors.test.ts b/test/anchors.test.ts
index e1c6f78b..936244c1 100644
--- a/test/anchors.test.ts
+++ b/test/anchors.test.ts
@@ -94,4 +94,21 @@ describe('Anchors', () => {
                 '<p>Content</p>\n',
         );
     });
+
+    it('should include content by anchor in sharped path file', () => {
+        expect(
+            transformYfm(
+                'Content before include\n' +
+                    '\n' +
+                    '{% include [file](./mocks/folder-with-#-sharp/file-with-#-sharp.md#anchor) %}\n' +
+                    '\n' +
+                    'After include',
+            ),
+        ).toBe(
+            '<p>Content before include</p>\n' +
+                '<h2 id="anchor"><a href="#anchor" class="yfm-anchor" aria-hidden="true"></a>Subtitle</h2>\n' +
+                '<p>Subcontent</p>\n' +
+                '<p>After include</p>\n',
+        );
+    });
 });
diff --git a/test/data/includes.ts b/test/data/includes.ts
index 58e52c8b..f0cb5401 100644
--- a/test/data/includes.ts
+++ b/test/data/includes.ts
@@ -568,3 +568,372 @@ export const codeInBackQuote = [
         hidden: false,
     },
 ];
+
+export const sharpedFile = [
+    {
+        type: 'paragraph_open',
+        tag: 'p',
+        attrs: null,
+        map: [0, 1],
+        nesting: 1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'inline',
+        tag: '',
+        attrs: null,
+        map: [0, 1],
+        nesting: 0,
+        level: 1,
+        children: [
+            {
+                type: 'text',
+                tag: '',
+                attrs: null,
+                map: null,
+                nesting: 0,
+                level: 0,
+                children: null,
+                content: 'Text before include',
+                markup: '',
+                info: '',
+                meta: null,
+                block: false,
+                hidden: false,
+            },
+        ],
+        content: 'Text before include',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'paragraph_close',
+        tag: 'p',
+        attrs: null,
+        map: null,
+        nesting: -1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'heading_open',
+        tag: 'h1',
+        attrs: null,
+        map: [0, 1],
+        nesting: 1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '#',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'inline',
+        tag: '',
+        attrs: null,
+        map: [0, 1],
+        nesting: 0,
+        level: 1,
+        children: [
+            {
+                type: 'text',
+                tag: '',
+                attrs: null,
+                map: null,
+                nesting: 0,
+                level: 0,
+                children: null,
+                content: 'Title',
+                markup: '',
+                info: '',
+                meta: null,
+                block: false,
+                hidden: false,
+            },
+        ],
+        content: 'Title',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'heading_close',
+        tag: 'h1',
+        attrs: null,
+        map: null,
+        nesting: -1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '#',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'paragraph_open',
+        tag: 'p',
+        attrs: null,
+        map: [2, 3],
+        nesting: 1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'inline',
+        tag: '',
+        attrs: null,
+        map: [2, 3],
+        nesting: 0,
+        level: 1,
+        children: [
+            {
+                type: 'text',
+                tag: '',
+                attrs: null,
+                map: null,
+                nesting: 0,
+                level: 0,
+                children: null,
+                content: 'Content',
+                markup: '',
+                info: '',
+                meta: null,
+                block: false,
+                hidden: false,
+            },
+        ],
+        content: 'Content',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'paragraph_close',
+        tag: 'p',
+        attrs: null,
+        map: null,
+        nesting: -1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'heading_open',
+        tag: 'h2',
+        attrs: null,
+        map: [4, 5],
+        nesting: 1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '##',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'inline',
+        tag: '',
+        attrs: null,
+        map: [4, 5],
+        nesting: 0,
+        level: 1,
+        children: [
+            {
+                type: 'text',
+                tag: '',
+                attrs: null,
+                map: null,
+                nesting: 0,
+                level: 0,
+                children: null,
+                content: 'Subtitle {#anchor}',
+                markup: '',
+                info: '',
+                meta: null,
+                block: false,
+                hidden: false,
+            },
+        ],
+        content: 'Subtitle {#anchor}',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'heading_close',
+        tag: 'h2',
+        attrs: null,
+        map: null,
+        nesting: -1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '##',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'paragraph_open',
+        tag: 'p',
+        attrs: null,
+        map: [6, 7],
+        nesting: 1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'inline',
+        tag: '',
+        attrs: null,
+        map: [6, 7],
+        nesting: 0,
+        level: 1,
+        children: [
+            {
+                type: 'text',
+                tag: '',
+                attrs: null,
+                map: null,
+                nesting: 0,
+                level: 0,
+                children: null,
+                content: 'Subcontent',
+                markup: '',
+                info: '',
+                meta: null,
+                block: false,
+                hidden: false,
+            },
+        ],
+        content: 'Subcontent',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'paragraph_close',
+        tag: 'p',
+        attrs: null,
+        map: null,
+        nesting: -1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'paragraph_open',
+        tag: 'p',
+        attrs: null,
+        map: [4, 5],
+        nesting: 1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'inline',
+        tag: '',
+        attrs: null,
+        map: [4, 5],
+        nesting: 0,
+        level: 1,
+        children: [
+            {
+                type: 'text',
+                tag: '',
+                attrs: null,
+                map: null,
+                nesting: 0,
+                level: 0,
+                children: null,
+                content: 'After include',
+                markup: '',
+                info: '',
+                meta: null,
+                block: false,
+                hidden: false,
+            },
+        ],
+        content: 'After include',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+    {
+        type: 'paragraph_close',
+        tag: 'p',
+        attrs: null,
+        map: null,
+        nesting: -1,
+        level: 0,
+        children: null,
+        content: '',
+        markup: '',
+        info: '',
+        meta: null,
+        block: true,
+        hidden: false,
+    },
+];
diff --git a/test/includes.test.ts b/test/includes.test.ts
index def72c65..ebe9f9fe 100644
--- a/test/includes.test.ts
+++ b/test/includes.test.ts
@@ -3,7 +3,7 @@ import {dirname} from 'path';
 import includes from '../src/transform/plugins/includes';
 import yfmlint from '../src/transform/yfmlint';
 import {callPlugin, tokenize} from './utils';
-import {title, notitle, codeInBackQuote} from './data/includes';
+import {title, notitle, codeInBackQuote, sharpedFile} from './data/includes';
 import {log} from '../src/transform/log';
 
 describe('Includes', () => {
@@ -130,4 +130,25 @@ describe('Includes', () => {
 
         expect(expectedCondition).toEqual(true);
     });
+
+    test('Should include file with sharped path', () => {
+        const mocksPath = require.resolve('./utils.ts');
+
+        const result = callPlugin(
+            includes,
+            tokenize([
+                'Text before include',
+                '',
+                '{% include [file](./mocks/folder-with-#-sharp/file-with-#-sharp.md) %}',
+                '',
+                'After include',
+            ]),
+            {
+                path: mocksPath,
+                root: dirname(mocksPath),
+            },
+        );
+
+        expect(result).toEqual(sharpedFile);
+    });
 });
diff --git a/test/mocks/folder-with-#-sharp/file-with-#-sharp.md b/test/mocks/folder-with-#-sharp/file-with-#-sharp.md
new file mode 100644
index 00000000..32b8da08
--- /dev/null
+++ b/test/mocks/folder-with-#-sharp/file-with-#-sharp.md
@@ -0,0 +1,7 @@
+# Title
+
+Content
+
+## Subtitle {#anchor}
+
+Subcontent
\ No newline at end of file