diff --git a/CHANGELOG.md b/CHANGELOG.md
index 5390fa10f..3e8dabac1 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,7 +7,9 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
-Nothing yet!
+### Added
+
+- Support `@theme reference { … }` for defining theme values without emitting variables ([#13222](https://github.com/tailwindlabs/tailwindcss/pull/13222))
 
 ## [4.0.0-alpha.8] - 2024-03-11
 
diff --git a/packages/tailwindcss/src/index.test.ts b/packages/tailwindcss/src/index.test.ts
index 1488b4817..d4b6eb614 100644
--- a/packages/tailwindcss/src/index.test.ts
+++ b/packages/tailwindcss/src/index.test.ts
@@ -948,4 +948,135 @@ describe('Parsing themes values from CSS', () => {
       }"
     `)
   })
+
+  test('theme values added as reference are not included in the output as variables', () => {
+    expect(
+      compileCss(
+        css`
+          @theme {
+            --color-tomato: #e10c04;
+          }
+          @theme reference {
+            --color-potato: #ac855b;
+          }
+          @tailwind utilities;
+        `,
+        ['bg-tomato', 'bg-potato'],
+      ),
+    ).toMatchInlineSnapshot(`
+      ":root {
+        --color-tomato: #e10c04;
+      }
+
+      .bg-potato {
+        background-color: #ac855b;
+      }
+
+      .bg-tomato {
+        background-color: #e10c04;
+      }"
+    `)
+  })
+
+  test('theme values added as reference that override existing theme value suppress the output of the original theme value as a variable', () => {
+    expect(
+      compileCss(
+        css`
+          @theme {
+            --color-potato: #ac855b;
+          }
+          @theme reference {
+            --color-potato: #c794aa;
+          }
+          @tailwind utilities;
+        `,
+        ['bg-potato'],
+      ),
+    ).toMatchInlineSnapshot(`
+      ".bg-potato {
+        background-color: #c794aa;
+      }"
+    `)
+  })
+
+  test('overriding a reference theme value with a non-reference theme value includes it in the output as a variable', () => {
+    expect(
+      compileCss(
+        css`
+          @theme reference {
+            --color-potato: #ac855b;
+          }
+          @theme {
+            --color-potato: #c794aa;
+          }
+          @tailwind utilities;
+        `,
+        ['bg-potato'],
+      ),
+    ).toMatchInlineSnapshot(`
+      ":root {
+        --color-potato: #c794aa;
+      }
+
+      .bg-potato {
+        background-color: #c794aa;
+      }"
+    `)
+  })
+
+  test('wrapping `@theme` with `@media reference` behaves like `@theme reference` to support `@import` statements', () => {
+    expect(
+      compileCss(
+        css`
+          @theme {
+            --color-tomato: #e10c04;
+          }
+          @media reference {
+            @theme {
+              --color-potato: #ac855b;
+            }
+            @theme {
+              --color-avocado: #c0cc6d;
+            }
+          }
+          @tailwind utilities;
+        `,
+        ['bg-tomato', 'bg-potato', 'bg-avocado'],
+      ),
+    ).toMatchInlineSnapshot(`
+      ":root {
+        --color-tomato: #e10c04;
+      }
+
+      .bg-avocado {
+        background-color: #c0cc6d;
+      }
+
+      .bg-potato {
+        background-color: #ac855b;
+      }
+
+      .bg-tomato {
+        background-color: #e10c04;
+      }"
+    `)
+  })
+
+  test('`@media reference` can only contain `@theme` rules', () => {
+    expect(() =>
+      compileCss(
+        css`
+          @media reference {
+            .not-a-theme-rule {
+              color: cursed;
+            }
+          }
+          @tailwind utilities;
+        `,
+        ['bg-tomato', 'bg-potato', 'bg-avocado'],
+      ),
+    ).toThrowErrorMatchingInlineSnapshot(
+      `[Error: Files imported with \`@import "…" reference\` must only contain \`@theme\` blocks.]`,
+    )
+  })
 })
diff --git a/packages/tailwindcss/src/index.ts b/packages/tailwindcss/src/index.ts
index 9678028f0..9e019c924 100644
--- a/packages/tailwindcss/src/index.ts
+++ b/packages/tailwindcss/src/index.ts
@@ -28,25 +28,47 @@ export function compile(css: string): {
 
   walk(ast, (node, { replaceWith }) => {
     if (node.kind !== 'rule') return
-    if (node.selector !== '@theme') return
+
+    // Drop instances of `@media reference`
+    //
+    // We support `@import "tailwindcss/theme" reference` as a way to import an external theme file
+    // as a reference, which becomes `@media reference { … }` when the `@import` is processed.
+    if (node.selector === '@media reference') {
+      walk(node.nodes, (child) => {
+        if (child.kind !== 'rule') {
+          throw new Error(
+            'Files imported with `@import "…" reference` must only contain `@theme` blocks.',
+          )
+        }
+        if (child.selector === '@theme') {
+          child.selector = '@theme reference'
+          return WalkAction.Skip
+        }
+      })
+      replaceWith(node.nodes)
+    }
+
+    if (node.selector !== '@theme' && node.selector !== '@theme reference') return
+
+    let isReference = node.selector === '@theme reference'
 
     // Record all custom properties in the `@theme` declaration
-    walk(node.nodes, (node, { replaceWith }) => {
+    walk(node.nodes, (child, { replaceWith }) => {
       // Collect `@keyframes` rules to re-insert with theme variables later,
       // since the `@theme` rule itself will be removed.
-      if (node.kind === 'rule' && node.selector.startsWith('@keyframes ')) {
-        keyframesRules.push(node)
+      if (child.kind === 'rule' && child.selector.startsWith('@keyframes ')) {
+        keyframesRules.push(child)
         replaceWith([])
         return WalkAction.Skip
       }
 
-      if (node.kind === 'comment') return
-      if (node.kind === 'declaration' && node.property.startsWith('--')) {
-        theme.add(node.property, node.value)
+      if (child.kind === 'comment') return
+      if (child.kind === 'declaration' && child.property.startsWith('--')) {
+        theme.add(child.property, child.value, isReference)
         return
       }
 
-      let snippet = toCss([rule('@theme', [node])])
+      let snippet = toCss([rule(node.selector, [child])])
         .split('\n')
         .map((line, idx, all) => `${idx === 0 || idx >= all.length - 2 ? ' ' : '>'} ${line}`)
         .join('\n')
@@ -58,7 +80,7 @@ export function compile(css: string): {
 
     // Keep a reference to the first `@theme` rule to update with the full theme
     // later, and delete any other `@theme` rules.
-    if (!firstThemeRule) {
+    if (!firstThemeRule && !isReference) {
       firstThemeRule = node
     } else {
       replaceWith([])
@@ -75,7 +97,8 @@ export function compile(css: string): {
     let nodes = []
 
     for (let [key, value] of theme.entries()) {
-      nodes.push(decl(key, value))
+      if (value.isReference) continue
+      nodes.push(decl(key, value.value))
     }
 
     if (keyframesRules.length > 0) {
@@ -158,23 +181,6 @@ export function compile(css: string): {
     })
   }
 
-  // Drop instances of `@media reference`
-  //
-  // We allow importing a theme as a reference so users can define the theme for
-  // the current CSS file without duplicating the theme vars in the final CSS.
-  // This is useful for users who use `@apply` in Vue SFCs and in CSS modules.
-  //
-  // The syntax is derived from `@import "tailwindcss/theme" reference` which
-  // turns into `@media reference { … }` in the final CSS.
-  if (css.includes('@media reference')) {
-    walk(ast, (node, { replaceWith }) => {
-      if (node.kind === 'rule' && node.selector === '@media reference') {
-        replaceWith([])
-        return WalkAction.Skip
-      }
-    })
-  }
-
   // Track all valid candidates, these are the incoming `rawCandidate` that
   // resulted in a generated AST Node. All the other `rawCandidates` are invalid
   // and should be ignored.
@@ -255,14 +261,15 @@ export function __unstable__loadDesignSystem(css: string) {
 
   walk(ast, (node) => {
     if (node.kind !== 'rule') return
-    if (node.selector !== '@theme') return
+    if (node.selector !== '@theme' && node.selector !== '@theme reference') return
+    let isReference = node.selector === '@theme reference'
 
     // Record all custom properties in the `@theme` declaration
     walk([node], (node) => {
       if (node.kind !== 'declaration') return
       if (!node.property.startsWith('--')) return
 
-      theme.add(node.property, node.value)
+      theme.add(node.property, node.value, isReference)
     })
   })
 
diff --git a/packages/tailwindcss/src/intellisense.test.ts b/packages/tailwindcss/src/intellisense.test.ts
index a7cce5618..596bad167 100644
--- a/packages/tailwindcss/src/intellisense.test.ts
+++ b/packages/tailwindcss/src/intellisense.test.ts
@@ -3,22 +3,18 @@ import { buildDesignSystem } from './design-system'
 import { Theme } from './theme'
 
 function loadDesignSystem() {
-  return buildDesignSystem(
-    new Theme(
-      new Map([
-        ['--spacing-0_5', '0.125rem'],
-        ['--spacing-1', '0.25rem'],
-        ['--spacing-3', '0.75rem'],
-        ['--spacing-4', '1rem'],
-        ['--width-4', '1rem'],
-        ['--colors-red-500', 'red'],
-        ['--colors-blue-500', 'blue'],
-        ['--breakpoint-sm', '640px'],
-        ['--font-size-xs', '0.75rem'],
-        ['--font-size-xs--line-height', '1rem'],
-      ]),
-    ),
-  )
+  let theme = new Theme()
+  theme.add('--spacing-0_5', '0.125rem')
+  theme.add('--spacing-1', '0.25rem')
+  theme.add('--spacing-3', '0.75rem')
+  theme.add('--spacing-4', '1rem')
+  theme.add('--width-4', '1rem')
+  theme.add('--colors-red-500', 'red')
+  theme.add('--colors-blue-500', 'blue')
+  theme.add('--breakpoint-sm', '640px')
+  theme.add('--font-size-xs', '0.75rem')
+  theme.add('--font-size-xs--line-height', '1rem')
+  return buildDesignSystem(theme)
 }
 
 test('getClassList', () => {
diff --git a/packages/tailwindcss/src/sort.bench.ts b/packages/tailwindcss/src/sort.bench.ts
index dce0132d3..907793c37 100644
--- a/packages/tailwindcss/src/sort.bench.ts
+++ b/packages/tailwindcss/src/sort.bench.ts
@@ -4,17 +4,15 @@ import { Theme } from './theme'
 
 const input = 'a-class px-3 p-1 b-class py-3 bg-red-500 bg-blue-500'.split(' ')
 const emptyDesign = buildDesignSystem(new Theme())
-const simpleDesign = buildDesignSystem(
-  new Theme(
-    new Map([
-      ['--spacing-1', '0.25rem'],
-      ['--spacing-3', '0.75rem'],
-      ['--spacing-4', '1rem'],
-      ['--color-red-500', 'red'],
-      ['--color-blue-500', 'blue'],
-    ]),
-  ),
-)
+const simpleDesign = (() => {
+  let simpleTheme = new Theme()
+  simpleTheme.add('--spacing-1', '0.25rem')
+  simpleTheme.add('--spacing-3', '0.75rem')
+  simpleTheme.add('--spacing-4', '1rem')
+  simpleTheme.add('--color-red-500', 'red')
+  simpleTheme.add('--color-blue-500', 'blue')
+  return buildDesignSystem(simpleTheme)
+})()
 
 bench('getClassOrder (empty theme)', () => {
   emptyDesign.getClassOrder(input)
diff --git a/packages/tailwindcss/src/theme.ts b/packages/tailwindcss/src/theme.ts
index 68cecbc16..9fcfef4c6 100644
--- a/packages/tailwindcss/src/theme.ts
+++ b/packages/tailwindcss/src/theme.ts
@@ -1,9 +1,9 @@
 import { escape } from './utils/escape'
 
 export class Theme {
-  constructor(private values: Map<string, string> = new Map<string, string>()) {}
+  constructor(private values = new Map<string, { value: string; isReference: boolean }>()) {}
 
-  add(key: string, value: string): void {
+  add(key: string, value: string, isReference = false): void {
     if (key.endsWith('-*')) {
       if (value !== 'initial') {
         throw new Error(`Invalid theme value \`${value}\` for namespace \`${key}\``)
@@ -18,7 +18,7 @@ export class Theme {
     if (value === 'initial') {
       this.values.delete(key)
     } else {
-      this.values.set(key, value)
+      this.values.set(key, { value, isReference })
     }
   }
 
@@ -46,7 +46,7 @@ export class Theme {
     for (let key of themeKeys) {
       let value = this.values.get(key)
       if (value) {
-        return value
+        return value.value
       }
     }
 
@@ -82,7 +82,7 @@ export class Theme {
 
     if (!themeKey) return null
 
-    return this.values.get(themeKey)!
+    return this.values.get(themeKey)!.value
   }
 
   resolveWith(
@@ -98,11 +98,11 @@ export class Theme {
     for (let name of nestedKeys) {
       let nestedValue = this.values.get(`${themeKey}${name}`)
       if (nestedValue) {
-        extra[name] = nestedValue
+        extra[name] = nestedValue.value
       }
     }
 
-    return [this.values.get(themeKey)!, extra]
+    return [this.values.get(themeKey)!.value, extra]
   }
 
   namespace(namespace: string) {
@@ -111,9 +111,9 @@ export class Theme {
 
     for (let [key, value] of this.values) {
       if (key === namespace) {
-        values.set(null, value)
+        values.set(null, value.value)
       } else if (key.startsWith(prefix)) {
-        values.set(key.slice(prefix.length), value)
+        values.set(key.slice(prefix.length), value.value)
       }
     }