diff --git a/src/webpack-assets.test.js b/src/webpack-assets.test.js
new file mode 100644
index 0000000..6fa1448
--- /dev/null
+++ b/src/webpack-assets.test.js
@@ -0,0 +1,92 @@
+const { execFileSync } = require("node:child_process");
+const fs = require("node:fs");
+const os = require("node:os");
+const path = require("node:path");
+
+it("builds SVG URL dependencies as files while preserving raw SVG imports", () => {
+    const directory = fs.mkdtempSync(path.join(os.tmpdir(), "patternslib-assets-"));
+    const svg = '<svg xmlns="http://www.w3.org/2000/svg"><path fill="#fff"/></svg>';
+
+    try {
+        fs.writeFileSync(path.join(directory, "icon.svg"), svg);
+        fs.writeFileSync(
+            path.join(directory, "style.css"),
+            '.icon { background-image: url("./icon.svg"); }',
+        );
+        // .mjs avoids unrelated Babel processing of this small fixture.
+        fs.writeFileSync(
+            path.join(directory, "entry.mjs"),
+            `import svg from "./icon.svg";
+             import css from "./style.css";
+             export { svg };
+             export const styles = css.toString();
+             export const url = new URL("./icon.svg", import.meta.url).href;`,
+        );
+
+        // Run Webpack and the generated bundle in Node, outside Jest's module
+        // transforms and CSS/SVG mocks. No browser is needed for this build.
+        const result = JSON.parse(
+            execFileSync(
+                process.execPath,
+                [
+                    "-e",
+                    `const path = require("node:path");
+                     const webpack = require("webpack");
+                     const directory = process.argv[1];
+                     const config = require("./webpack/webpack.config").config({
+                         config: {
+                             mode: "development",
+                             target: "node",
+                             context: directory,
+                             entry: "./entry.mjs",
+                             devtool: false,
+                             optimization: { minimize: false },
+                         },
+                     });
+                     config.output = {
+                         ...config.output,
+                         path: path.join(directory, "dist"),
+                         filename: "bundle.cjs",
+                         publicPath: "https://example.test/assets/",
+                         library: { type: "commonjs2" },
+                     };
+                     config.resolveLoader = {
+                         modules: [path.resolve("node_modules")],
+                     };
+                     // Export the CSS string instead of injecting a style tag.
+                     const cssRule = config.module.rules.find(rule => rule.test.test("style.css"));
+                     cssRule.use = cssRule.use.filter(item => item.loader !== "style-loader");
+                     const compiler = webpack(config);
+                     compiler.run((error, stats) => {
+                         compiler.close(closeError => {
+                             if (error || closeError) throw error || closeError;
+                             if (stats.hasErrors()) throw new Error(stats.toString());
+                             const result = require(path.join(directory, "dist/bundle.cjs"));
+                             process.stdout.write(JSON.stringify(result));
+                         });
+                     });`,
+                    directory,
+                ],
+                {
+                    cwd: path.resolve(__dirname, ".."),
+                    env: { ...process.env, NODE_ENV: "test" },
+                    encoding: "utf8",
+                    timeout: 30000,
+                },
+            ),
+        );
+
+        expect(result.svg).toBe(svg);
+        const files = fs.readdirSync(path.join(directory, "dist"));
+        const svgFiles = files.filter((file) => file.endsWith(".svg"));
+        expect(svgFiles).toHaveLength(1);
+        const assetUrl = `https://example.test/assets/${svgFiles[0]}`;
+        expect(result.styles).toContain(`url(${assetUrl})`);
+        expect(result.url).toBe(assetUrl);
+        expect(fs.readFileSync(path.join(directory, "dist", svgFiles[0]), "utf8")).toBe(
+            svg,
+        );
+    } finally {
+        fs.rmSync(directory, { recursive: true, force: true });
+    }
+}, 35000);
diff --git a/webpack/webpack.config.js b/webpack/webpack.config.js
index 1075b89..7e8fa8d 100644
--- a/webpack/webpack.config.js
+++ b/webpack/webpack.config.js
@@ -82,9 +82,24 @@ const config_factory = (env, argv, config, babel_include = [], package_json) =>
                     ],
                 },
                 {
-                    test: /\.*(?:html|xml|svg)$/i,
+                    test: /\.(?:html|xml)$/i,
                     type: "asset/source",
                 },
+                {
+                    test: /\.svg$/i,
+                    oneOf: [
+                        {
+                            // Keep resource imports for CSS url(...) and
+                            // JavaScript new URL(..., import.meta.url)
+                            dependency: "url",
+                            type: "asset/resource",
+                        },
+                        {
+                            // Preserve raw markup for ordinary JavaScript SVG imports.
+                            type: "asset/source",
+                        },
+                    ],
+                },
                 {
                     test: /\.(eot|woff|woff2|ttf|png|jpe?g|gif|webp)$/i,
                     type: "asset/resource",