diff --git a/doc/api/deprecations.md b/doc/api/deprecations.md
index f2c737bddd8c68..a9991fc3da310a 100644
--- a/doc/api/deprecations.md
+++ b/doc/api/deprecations.md
@@ -2439,6 +2439,19 @@ The `_channel` property of child process objects returned by `spawn()` and
 similar functions is not intended for public use. Use `ChildProcess.channel`
 instead.
 
+<a id="DEP0130"></a>
+### DEP00XX: Module.createRequireFromPath()
+<!-- YAML
+changes:
+  - version: REPLACEME
+    pr-url: https://github.com/nodejs/node/pull/27405
+    description: Documentation-only.
+-->
+
+Type: Documentation-only
+
+Module.createRequireFromPath() is deprecated. Please use [`module.createRequire()`][] instead.
+
 [`--pending-deprecation`]: cli.html#cli_pending_deprecation
 [`Buffer.allocUnsafeSlow(size)`]: buffer.html#buffer_class_method_buffer_allocunsafeslow_size
 [`Buffer.from(array)`]: buffer.html#buffer_class_method_buffer_from_array
@@ -2486,6 +2499,7 @@ instead.
 [`http.request()`]: http.html#http_http_request_options_callback
 [`https.get()`]: https.html#https_https_get_options_callback
 [`https.request()`]: https.html#https_https_request_options_callback
+[`module.createRequire()`]: modules.html#modules_module_createrequire_filename
 [`os.networkInterfaces()`]: os.html#os_os_networkinterfaces
 [`os.tmpdir()`]: os.html#os_os_tmpdir
 [`process.env`]: process.html#process_process_env
diff --git a/doc/api/modules.md b/doc/api/modules.md
index 8638b137ade732..4acead178e4093 100644
--- a/doc/api/modules.md
+++ b/doc/api/modules.md
@@ -905,15 +905,36 @@ by the [module wrapper][]. To access it, require the `Module` module:
 const builtin = require('module').builtinModules;
 ```
 
+### module.createRequire(filename)
+<!-- YAML
+added: REPLACEME
+-->
+
+* `filename` {string|URL} Filename to be used to construct the require
+  function. Must be a file URL object, file URL string, or absolute path
+  string.
+* Returns: {require} Require function
+
+```js
+const { createRequire } = require('module');
+const requireUtil = createRequire(require.resolve('../src/utils/'));
+
+// Require `../src/utils/some-tool`
+requireUtil('./some-tool');
+```
+
 ### module.createRequireFromPath(filename)
 <!-- YAML
 added: v10.12.0
+deprecated: REPLACEME
 -->
 
 * `filename` {string} Filename to be used to construct the relative require
   function.
 * Returns: {require} Require function
 
+> Stability: 0 - Deprecated: Please use [`createRequire()`][] instead.
+
 ```js
 const { createRequireFromPath } = require('module');
 const requireUtil = createRequireFromPath('../src/utils/');
@@ -926,6 +947,7 @@ requireUtil('./some-tool');
 [`Error`]: errors.html#errors_class_error
 [`__dirname`]: #modules_dirname
 [`__filename`]: #modules_filename
+[`createRequire()`]: #modules_module_createrequire_filename
 [`module` object]: #modules_the_module_object
 [`path.dirname()`]: path.html#path_path_dirname_path
 [exports shortcut]: #modules_exports_shortcut
diff --git a/lib/internal/modules/cjs/loader.js b/lib/internal/modules/cjs/loader.js
index 5df34cb3f022b4..ff1128e903dc2e 100644
--- a/lib/internal/modules/cjs/loader.js
+++ b/lib/internal/modules/cjs/loader.js
@@ -24,7 +24,7 @@
 const { JSON, Object, Reflect } = primordials;
 
 const { NativeModule } = require('internal/bootstrap/loaders');
-const { pathToFileURL } = require('internal/url');
+const { pathToFileURL, fileURLToPath, URL } = require('internal/url');
 const { deprecate } = require('internal/util');
 const vm = require('vm');
 const assert = require('internal/assert');
@@ -824,7 +824,7 @@ Module.runMain = function() {
   Module._load(process.argv[1], null, true);
 };
 
-Module.createRequireFromPath = (filename) => {
+function createRequireFromPath(filename) {
   // Allow a directory to be passed as the filename
   const trailingSlash =
     filename.endsWith(path.sep) || path.sep !== '/' && filename.endsWith('\\');
@@ -838,7 +838,34 @@ Module.createRequireFromPath = (filename) => {
 
   m.paths = Module._nodeModulePaths(m.path);
   return makeRequireFunction(m);
-};
+}
+
+Module.createRequireFromPath = createRequireFromPath;
+
+const createRequireError = 'must be a file URL object, file URL string, or' +
+  'absolute path string';
+
+function createRequire(filename) {
+  let filepath;
+  if (typeof filename === 'object' && !(filename instanceof URL)) {
+    throw new ERR_INVALID_ARG_VALUE('filename', filename, createRequireError);
+  } else if (typeof filename === 'object' ||
+    typeof filename === 'string' && !path.isAbsolute(filename)) {
+    try {
+      filepath = fileURLToPath(filename);
+    } catch {
+      throw new ERR_INVALID_ARG_VALUE('filename', filename,
+                                      createRequireError);
+    }
+  } else if (typeof filename !== 'string') {
+    throw new ERR_INVALID_ARG_VALUE('filename', filename, createRequireError);
+  } else {
+    filepath = filename;
+  }
+  return createRequireFromPath(filepath);
+}
+
+Module.createRequire = createRequire;
 
 Module._initPaths = function() {
   var homeDir;
diff --git a/test/parallel/test-module-create-require.js b/test/parallel/test-module-create-require.js
index 03ed31939fba67..fa25b87f95921b 100644
--- a/test/parallel/test-module-create-require.js
+++ b/test/parallel/test-module-create-require.js
@@ -4,9 +4,31 @@ require('../common');
 const assert = require('assert');
 const path = require('path');
 
-const { createRequireFromPath } = require('module');
+const { createRequire, createRequireFromPath } = require('module');
 
 const p = path.resolve(__dirname, '..', 'fixtures', 'fake.js');
+const u = new URL(`file://${p}`);
 
 const req = createRequireFromPath(p);
 assert.strictEqual(req('./baz'), 'perhaps I work');
+
+const reqToo = createRequire(u);
+assert.deepStrictEqual(reqToo('./experimental'), { ofLife: 42 });
+
+assert.throws(() => {
+  createRequire('https://github.com/nodejs/node/pull/27405/');
+}, {
+  code: 'ERR_INVALID_ARG_VALUE'
+});
+
+assert.throws(() => {
+  createRequire('../');
+}, {
+  code: 'ERR_INVALID_ARG_VALUE'
+});
+
+assert.throws(() => {
+  createRequire({});
+}, {
+  code: 'ERR_INVALID_ARG_VALUE'
+});