diff --git a/src/java.base/share/classes/java/lang/Class.java b/src/java.base/share/classes/java/lang/Class.java
index 61cbc42243c..aceba5dd9f0 100644
--- a/src/java.base/share/classes/java/lang/Class.java
+++ b/src/java.base/share/classes/java/lang/Class.java
@@ -53,7 +53,9 @@
 import java.lang.constant.Constable;
 import java.net.URL;
 import java.security.AccessController;
+import java.security.Permissions;
 import java.security.PrivilegedAction;
+import java.security.ProtectionDomain;
 import java.util.ArrayList;
 import java.util.Arrays;
 import java.util.Collection;
@@ -2966,10 +2968,6 @@ private boolean isOpenToCaller(String name, Class<?> caller) {
         return true;
     }
 
-
-    /** protection domain returned when the internal domain is null */
-    private static java.security.ProtectionDomain allPermDomain;
-
     /**
      * Returns the {@code ProtectionDomain} of this class.  If there is a
      * security manager installed, this method first calls the security
@@ -2990,7 +2988,7 @@ private boolean isOpenToCaller(String name, Class<?> caller) {
      * @see java.lang.RuntimePermission
      * @since 1.2
      */
-    public java.security.ProtectionDomain getProtectionDomain() {
+    public ProtectionDomain getProtectionDomain() {
         @SuppressWarnings("removal")
         SecurityManager sm = System.getSecurityManager();
         if (sm != null) {
@@ -2999,26 +2997,30 @@ public java.security.ProtectionDomain getProtectionDomain() {
         return protectionDomain();
     }
 
+    /** Holder for the protection domain returned when the internal domain is null */
+    private static class Holder {
+        private static final ProtectionDomain allPermDomain;
+        static {
+            Permissions perms = new Permissions();
+            perms.add(SecurityConstants.ALL_PERMISSION);
+            allPermDomain = new ProtectionDomain(null, perms);
+        }
+    }
+
     // package-private
-    java.security.ProtectionDomain protectionDomain() {
-        java.security.ProtectionDomain pd = getProtectionDomain0();
+    ProtectionDomain protectionDomain() {
+        ProtectionDomain pd = getProtectionDomain0();
         if (pd == null) {
-            if (allPermDomain == null) {
-                java.security.Permissions perms =
-                    new java.security.Permissions();
-                perms.add(SecurityConstants.ALL_PERMISSION);
-                allPermDomain =
-                    new java.security.ProtectionDomain(null, perms);
-            }
-            pd = allPermDomain;
+            return Holder.allPermDomain;
+        } else {
+            return pd;
         }
-        return pd;
     }
 
     /**
      * Returns the ProtectionDomain of this class.
      */
-    private native java.security.ProtectionDomain getProtectionDomain0();
+    private native ProtectionDomain getProtectionDomain0();
 
     /*
      * Return the Virtual Machine's Class object for the named
diff --git a/test/jdk/java/lang/Class/ProtectionDomainRace.java b/test/jdk/java/lang/Class/ProtectionDomainRace.java
new file mode 100644
index 00000000000..52b45d7ab10
--- /dev/null
+++ b/test/jdk/java/lang/Class/ProtectionDomainRace.java
@@ -0,0 +1,80 @@
+/*
+ * Copyright (c) 2024, Oracle and/or its affiliates. All rights reserved.
+ * DO NOT ALTER OR REMOVE COPYRIGHT NOTICES OR THIS FILE HEADER.
+ *
+ * This code is free software; you can redistribute it and/or modify it
+ * under the terms of the GNU General Public License version 2 only, as
+ * published by the Free Software Foundation.
+ *
+ * This code is distributed in the hope that it will be useful, but WITHOUT
+ * ANY WARRANTY; without even the implied warranty of MERCHANTABILITY or
+ * FITNESS FOR A PARTICULAR PURPOSE.  See the GNU General Public License
+ * version 2 for more details (a copy is included in the LICENSE file that
+ * accompanied this code).
+ *
+ * You should have received a copy of the GNU General Public License version
+ * 2 along with this work; if not, write to the Free Software Foundation,
+ * Inc., 51 Franklin St, Fifth Floor, Boston, MA 02110-1301 USA.
+ *
+ * Please contact Oracle, 500 Oracle Parkway, Redwood Shores, CA 94065 USA
+ * or visit www.oracle.com if you need additional information or have any
+ * questions.
+ */
+
+/*
+ * @test
+ * @bug 8334394
+ * @summary ensure there is no race condition in Class::protectionDomain
+ * @run main/othervm ProtectionDomainRace
+ */
+import javax.security.auth.Subject;
+import java.security.PrivilegedAction;
+
+/**
+ * Without the code fix, this test would fail with
+ * java.lang.AssertionError: sun.security.util.ResourcesMgr (PD)
+ *         at java.base/java.lang.invoke.MethodHandleImpl$BindCaller.checkInjectedInvoker(MethodHandleImpl.java:1209)
+ *         at java.base/java.lang.invoke.MethodHandleImpl$BindCaller.makeInjectedInvoker(MethodHandleImpl.java:1110)
+ *         at java.base/java.lang.invoke.MethodHandleImpl$BindCaller$1.computeValue(MethodHandleImpl.java:1117)
+ *         at java.base/java.lang.invoke.MethodHandleImpl$BindCaller$1.computeValue(MethodHandleImpl.java:1114)
+ *         at java.base/java.lang.ClassValue.getFromHashMap(ClassValue.java:229)
+ *         at java.base/java.lang.ClassValue.getFromBackup(ClassValue.java:211)
+ *         at java.base/java.lang.ClassValue.get(ClassValue.java:117)
+ *         at java.base/java.lang.invoke.MethodHandleImpl$BindCaller.bindCallerWithInjectedInvoker(MethodHandleImpl.java:1089)
+ *         at java.base/java.lang.invoke.MethodHandleImpl$BindCaller.bindCaller(MethodHandleImpl.java:1077)
+ *         at java.base/java.lang.invoke.MethodHandleImpl.bindCaller(MethodHandleImpl.java:1032)
+ *         at java.base/java.lang.invoke.MethodHandles$Lookup.maybeBindCaller(MethodHandles.java:4149)
+ *         at java.base/java.lang.invoke.MethodHandles$Lookup.getDirectMethodCommon(MethodHandles.java:4133)
+ *         at java.base/java.lang.invoke.MethodHandles$Lookup.getDirectMethodNoSecurityManager(MethodHandles.java:4077)
+ *         at java.base/java.lang.invoke.MethodHandles$Lookup.getDirectMethodForConstant(MethodHandles.java:4326)
+ *         at java.base/java.lang.invoke.MethodHandles$Lookup.linkMethodHandleConstant(MethodHandles.java:4274)
+ *         at java.base/java.lang.invoke.MethodHandleNatives.linkMethodHandleConstant(MethodHandleNatives.java:628)
+ *         at java.base/sun.security.util.ResourcesMgr.getBundle(ResourcesMgr.java:54)
+ *         at java.base/sun.security.util.ResourcesMgr.getString(ResourcesMgr.java:40)
+ *         at java.base/javax.security.auth.Subject.doAs(Subject.java:517)
+ *         ...
+ * as the Class::protectionDomain might assign different objects to the (original) allPermDomain field.
+ */
+public class ProtectionDomainRace {
+    private static volatile Throwable failed = null;
+    public static void main(String[] args) throws Throwable {
+        PrivilegedAction<?> pa = () -> null;
+        Thread[] threads = new Thread[100];
+        for (int i = 0; i < 100; i++) {
+            threads[i] = new Thread(() -> {
+                try {
+                    Subject.doAs(null, pa);
+                } catch (Throwable t) {
+                    failed = t;
+                }
+            });
+            threads[i].start();
+        }
+        for (int i = 0; i < 100; i++) {
+            threads[i].join();
+        }
+        if (failed != null) {
+            throw failed;
+        }
+    }
+}