diff --git a/context.go b/context.go
index c48f8230c..a0983191a 100644
--- a/context.go
+++ b/context.go
@@ -386,7 +386,7 @@ func (c *Context) LookupByValue(tv scode.Bytes) (Type, error) {
 	if rest == nil {
 		return nil, errors.New("bad type value encoding")
 	}
-	c.toValue[typ] = tv
+	c.toValue[typ] = slices.Clone(tv)
 	c.toType[string(tv)] = typ
 	return typ, nil
 }
diff --git a/context_test.go b/context_test.go
index 0548b2179..f98e1e6eb 100644
--- a/context_test.go
+++ b/context_test.go
@@ -8,6 +8,21 @@ import (
 	"github.com/stretchr/testify/require"
 )
 
+func TestContextLookupByValueAndLookupTypeValue(t *testing.T) {
+	sctx := super.NewContext()
+	recType := sctx.MustLookupTypeRecord(nil)
+
+	tv := super.EncodeTypeValue(recType)
+	typ, err := sctx.LookupByValue(tv)
+	require.NoError(t, err)
+	assert.Equal(t, recType, typ)
+
+	// Overwriting tv should not affect sctx's cached type value for recType.
+	super.AppendTypeValue(tv[:0], super.TypeNull)
+	val := sctx.LookupTypeValue(recType)
+	assert.Exactly(t, super.EncodeTypeValue(recType), val.Bytes())
+}
+
 func TestContextLookupTypeNamedErrors(t *testing.T) {
 	sctx := super.NewContext()