diff --git a/packages/reactivity-core/CHANGELOG.md b/packages/reactivity-core/CHANGELOG.md
index 148a74d..c9e7222 100644
--- a/packages/reactivity-core/CHANGELOG.md
+++ b/packages/reactivity-core/CHANGELOG.md
@@ -1,5 +1,10 @@
 # @conterra/reactivity-core
 
+## v0.4.3 (Unreleased)
+
+-   Introduce `subtleWatchDirty`, a function that allows one to watch for signal changes without triggering the re-evaluation of the signal.
+-   Deprecate `syncEffectOnce` (use `subtleWatchDirty` instead).
+
 ## v0.4.2
 
 -   Fix `reactiveArray.splice()`: new elements could not be inserted.
diff --git a/packages/reactivity-core/index.ts b/packages/reactivity-core/index.ts
index 61f2f1b..0293046 100644
--- a/packages/reactivity-core/index.ts
+++ b/packages/reactivity-core/index.ts
@@ -46,5 +46,6 @@ export {
 } from "./ReactiveImpl";
 export { syncEffect, syncEffectOnce, syncWatch, syncWatchValue } from "./sync";
 export { effect, watch, watchValue, nextTick } from "./async";
+export { subtleWatchDirty } from "./watchDirty";
 export * from "./collections";
 export * from "./struct";
diff --git a/packages/reactivity-core/sync.ts b/packages/reactivity-core/sync.ts
index e26cfd6..e7a0ce9 100644
--- a/packages/reactivity-core/sync.ts
+++ b/packages/reactivity-core/sync.ts
@@ -64,6 +64,8 @@ export function syncEffect(callback: EffectCallback): CleanupHandle {
  *
  * Note that `onInvalidate` will never be invoked more than once.
  *
+ * @deprecated This function is no longer needed and will be removed in a future release.
+ * 
  * @group Watching
  */
 export function syncEffectOnce(callback: EffectCallback, onInvalidate: () => void): CleanupHandle {
diff --git a/packages/reactivity-core/watchDirty.test.ts b/packages/reactivity-core/watchDirty.test.ts
new file mode 100644
index 0000000..66296b4
--- /dev/null
+++ b/packages/reactivity-core/watchDirty.test.ts
@@ -0,0 +1,79 @@
+import { expect, it, vi } from "vitest";
+import { computed, reactive } from "./ReactiveImpl";
+import { subtleWatchDirty } from "./watchDirty";
+
+it("notifies the callback when the signal changed", () => {
+    const v = reactive(0);
+    const callback = vi.fn();
+    subtleWatchDirty(v, callback);
+
+    expect(callback).toHaveBeenCalledTimes(0);
+
+    v.value = 1;
+    expect(callback).toHaveBeenCalledTimes(1);
+
+    v.value = 2;
+    expect(callback).toHaveBeenCalledTimes(2);
+});
+
+it("stops notifications when the watch is destroyed", () => {
+    const v = reactive(0);
+    const callback = vi.fn();
+    const { destroy } = subtleWatchDirty(v, callback);
+
+    v.value = 1;
+    expect(callback).toHaveBeenCalledTimes(1);
+
+    destroy();
+    v.value = 2;
+    expect(callback).toHaveBeenCalledTimes(1);
+});
+
+it("does not trigger computed signals", () => {
+    const count = reactive(0);
+    const compute = vi.fn(() => count.value + 1);
+    const signal = computed(compute);
+    expect(compute).toHaveBeenCalledTimes(0);
+
+    const callback = vi.fn();
+    subtleWatchDirty(signal, callback);
+    expect(callback).toHaveBeenCalledTimes(0);
+    expect(compute).toHaveBeenCalledTimes(1); // watchDirty accesses the value once during setup
+
+    count.value = 1;
+    expect(callback).toHaveBeenCalledTimes(1);
+    expect(compute).toHaveBeenCalledTimes(1); // not called again
+
+    signal.value;
+    expect(compute).toHaveBeenCalledTimes(2);
+});
+
+it("tracks the signal even if the initial access throws", () => {
+    const count = reactive(0);
+    const compute = vi.fn(() => {
+        if (count.value === 0) {
+            throw new Error("oops!");
+        }
+        return count.value + 1;
+    });
+    const signal = computed(compute);
+
+    const callback = vi.fn();
+    subtleWatchDirty(signal, callback);
+    expect(callback).toHaveBeenCalledTimes(0);
+
+    // Was called during setup and the error was ignored.
+    expect(compute).toHaveBeenCalledTimes(1);
+    expect(compute.mock.results).toMatchInlineSnapshot(`
+      [
+        {
+          "type": "throw",
+          "value": [Error: oops!],
+        },
+      ]
+    `);
+
+    // Update triggers notification
+    count.value = 1;
+    expect(callback).toHaveBeenCalledTimes(1);
+});
diff --git a/packages/reactivity-core/watchDirty.ts b/packages/reactivity-core/watchDirty.ts
new file mode 100644
index 0000000..a7e7cb4
--- /dev/null
+++ b/packages/reactivity-core/watchDirty.ts
@@ -0,0 +1,57 @@
+import { effect as rawEffect } from "@preact/signals-core";
+import { CleanupHandle, ReadonlyReactive } from "./types";
+
+/**
+ * **Experimental**. 
+ * Notifies the given `callback` whenever the `signal` might have changed,
+ * without recomputing the signal's current value.
+ *
+ * This is a difficult to use, low level API that can be used to build higher level abstractions.
+ * 
+ * Things to keep in mind when using this function:
+ * The `callback` should be cheap to invoke (as a signal might change often) and it **must not** throw an exception.
+ * It should also not make use of any reactive values.
+ *
+ * @param signal The signal being watched.
+ * @param callback The callback to be called whenever the signal might have changed.
+ *
+ * @group Watching
+ */
+export function subtleWatchDirty<T>(signal: ReadonlyReactive<T>, callback: () => void): CleanupHandle {
+    // Uses the effect's internals to track signal invalidations.
+    // The effect body is only called once!
+    // See https://github.com/preactjs/signals/issues/593#issuecomment-2349672856
+    let start!: () => () => void;
+    const destroy = rawEffect(function (this: RawEffectInternals) {
+        this[_NOTIFY] = callback.bind(undefined); // hide 'this'
+        start = this[_START].bind(this);
+    });
+
+    const end = start();
+    try {
+        signal.value; // Tracked
+    } catch (ignored) {
+        // We only care about the dependency being set up correctly.
+        void ignored;
+    } finally {
+        end();
+    }
+
+    return {
+        destroy
+    };
+}
+
+// Mangled member names. See https://github.com/preactjs/signals/blob/main/mangle.json.
+const _NOTIFY = "N";
+const _START = "S";
+
+interface RawEffectInternals {
+    // Notifies the effect that a dependency has changed.
+    // This usually schedules the effect to run again (when not overridden).
+    [_NOTIFY](): void;
+
+    // Starts the effect and returns a function to stop it again.
+    // Signal accesses are tracked while the effect is running.
+    [_START](): () => void;
+}