diff --git a/.changelog/unreleased/breaking-changes/3314-mempool-preupdate.md b/.changelog/unreleased/breaking-changes/3314-mempool-preupdate.md
new file mode 100644
index 00000000000..4c2528939f7
--- /dev/null
+++ b/.changelog/unreleased/breaking-changes/3314-mempool-preupdate.md
@@ -0,0 +1,4 @@
+- `[mempool]` Add to the `Mempool` interface a new method `PreUpdate()`. This method should be
+  called before acquiring the mempool lock, to signal that a new update is coming. Also add to
+  `ErrMempoolIsFull` a new field `RecheckFull`.
+  ([\#3314](https://github.com/cometbft/cometbft/pull/3314))
diff --git a/.changelog/unreleased/improvements/3314-mempool-update-consider-full-when-rechecking.md b/.changelog/unreleased/improvements/3314-mempool-update-consider-full-when-rechecking.md
new file mode 100644
index 00000000000..57c9d6311dc
--- /dev/null
+++ b/.changelog/unreleased/improvements/3314-mempool-update-consider-full-when-rechecking.md
@@ -0,0 +1,4 @@
+- `[mempool]` Before updating the mempool, consider it as full if rechecking is still in progress.
+  This will stop accepting transactions in the mempool if the node can't keep up with re-CheckTx.
+  This improvement is implemented only in the v0 mempool.
+  ([\#3314](https://github.com/cometbft/cometbft/pull/3314))
diff --git a/blocksync/reactor_test.go b/blocksync/reactor_test.go
index 72a5f7d8f7b..ef13e1c0f1a 100644
--- a/blocksync/reactor_test.go
+++ b/blocksync/reactor_test.go
@@ -86,7 +86,7 @@ func newReactor(
 	mp := &mpmocks.Mempool{}
 	mp.On("Lock").Return()
 	mp.On("Unlock").Return()
-	mp.On("ResetUpdate").Return()
+	mp.On("PreUpdate").Return()
 	mp.On("FlushAppConn", mock.Anything).Return(nil)
 	mp.On("Update",
 		mock.Anything,
diff --git a/consensus/replay_stubs.go b/consensus/replay_stubs.go
index 26646bfa374..2ee246e3a46 100644
--- a/consensus/replay_stubs.go
+++ b/consensus/replay_stubs.go
@@ -17,7 +17,7 @@ var _ mempl.Mempool = emptyMempool{}
 
 func (emptyMempool) Lock()            {}
 func (emptyMempool) Unlock()          {}
-func (emptyMempool) ResetUpdate()     {}
+func (emptyMempool) PreUpdate()       {}
 func (emptyMempool) Size() int        { return 0 }
 func (emptyMempool) SizeBytes() int64 { return 0 }
 func (emptyMempool) CheckTx(_ types.Tx, _ func(*abci.Response), _ mempl.TxInfo) error {
diff --git a/mempool/mempool.go b/mempool/mempool.go
index 5956b83e0a9..cb91b60dcc7 100644
--- a/mempool/mempool.go
+++ b/mempool/mempool.go
@@ -58,9 +58,9 @@ type Mempool interface {
 	// Unlock unlocks the mempool.
 	Unlock()
 
-	// Cancel's any ongoing mempool Update. Safe to call while Mempool is locked.
-	// As a consequence, the Lock'd thread is expected to terminate soon after this is called.
-	ResetUpdate()
+	// PreUpdate signals that a new update is coming, before acquiring the mempool lock.
+	// If the mempool is still rechecking at this point, it should be considered full.
+	PreUpdate()
 
 	// Update informs the mempool that the given txs were committed and can be
 	// discarded.
diff --git a/mempool/mocks/mempool.go b/mempool/mocks/mempool.go
index 9cd570cd3a9..e0e66ddd98a 100644
--- a/mempool/mocks/mempool.go
+++ b/mempool/mocks/mempool.go
@@ -59,6 +59,11 @@ func (_m *Mempool) Lock() {
 	_m.Called()
 }
 
+// PreUpdate provides a mock function with given fields:
+func (_m *Mempool) PreUpdate() {
+	_m.Called()
+}
+
 // ReapMaxBytesMaxGas provides a mock function with given fields: maxBytes, maxGas
 func (_m *Mempool) ReapMaxBytesMaxGas(maxBytes int64, maxGas int64) types.Txs {
 	ret := _m.Called(maxBytes, maxGas)
@@ -91,11 +96,6 @@ func (_m *Mempool) ReapMaxTxs(max int) types.Txs {
 	return r0
 }
 
-// ResetUpdate provides a mock function with given fields:
-func (_m *Mempool) ResetUpdate() {
-	_m.Called()
-}
-
 // RemoveTxByKey provides a mock function with given fields: txKey
 func (_m *Mempool) RemoveTxByKey(txKey types.TxKey) error {
 	ret := _m.Called(txKey)
diff --git a/mempool/nop_mempool.go b/mempool/nop_mempool.go
index c16e4e7edad..79cd3cbab76 100644
--- a/mempool/nop_mempool.go
+++ b/mempool/nop_mempool.go
@@ -40,7 +40,7 @@ func (*NopMempool) Lock() {}
 // Unlock does nothing.
 func (*NopMempool) Unlock() {}
 
-func (*NopMempool) ResetUpdate() {}
+func (*NopMempool) PreUpdate() {}
 
 // Update does nothing.
 func (*NopMempool) Update(
diff --git a/mempool/v0/clist_mempool.go b/mempool/v0/clist_mempool.go
index 0683069aaab..cf555c4c540 100644
--- a/mempool/v0/clist_mempool.go
+++ b/mempool/v0/clist_mempool.go
@@ -46,9 +46,10 @@ type CListMempool struct {
 	// Track whether we're rechecking txs.
 	// These are not protected by a mutex and are expected to be mutated in
 	// serial (ie. by abci responses which are called in serial).
-	recheckCursor  *clist.CElement // next expected response
-	recheckEnd     *clist.CElement // re-checking stops here
-	stopRechecking atomic.Bool
+	recheckCursor *clist.CElement // next expected response
+	recheckEnd    *clist.CElement // re-checking stops here
+	isRechecking  atomic.Bool     // true iff the rechecking process has begun and is not yet finished
+	recheckFull   atomic.Bool     // whether rechecking TXs cannot be completed before a new block is decided
 
 	// Map for quick access to txs to record sender in CheckTx.
 	// txsMap: txKey -> CElement
@@ -142,8 +143,12 @@ func (mem *CListMempool) Unlock() {
 }
 
 // Safe for concurrent use by multiple goroutines.
-func (mem *CListMempool) ResetUpdate() {
-	mem.stopRechecking.Store(true)
+func (mem *CListMempool) PreUpdate() {
+	rechecking := mem.isRechecking.Load()
+	recheckFull := mem.recheckFull.Swap(rechecking)
+	if rechecking != recheckFull {
+		mem.logger.Debug("the state of recheckFull has flipped")
+	}
 }
 
 // Safe for concurrent use by multiple goroutines.
@@ -356,12 +361,11 @@ func (mem *CListMempool) RemoveTxByKey(txKey types.TxKey) error {
 }
 
 func (mem *CListMempool) isFull(txSize int) error {
-	var (
-		memSize  = mem.Size()
-		txsBytes = mem.SizeBytes()
-	)
+	memSize := mem.Size()
+	txsBytes := mem.SizeBytes()
+	recheckFull := mem.recheckFull.Load()
 
-	if memSize >= mem.config.Size || int64(txSize)+txsBytes > mem.config.MaxTxsBytes {
+	if memSize >= mem.config.Size || int64(txSize)+txsBytes > mem.config.MaxTxsBytes || recheckFull {
 		return mempool.ErrMempoolIsFull{
 			NumTxs:      memSize,
 			MaxTxs:      mem.config.Size,
@@ -483,6 +487,8 @@ func (mem *CListMempool) resCbRecheck(req *abci.Request, res *abci.Response) {
 				// matching the one we received from the ABCI application.
 				// Return without processing any tx.
 				mem.recheckCursor = nil
+				mem.isRechecking.Store(false)
+				mem.recheckFull.Store(false)
 				return
 			}
 
@@ -505,6 +511,8 @@ func (mem *CListMempool) resCbRecheck(req *abci.Request, res *abci.Response) {
 		}
 		if mem.recheckCursor == mem.recheckEnd {
 			mem.recheckCursor = nil
+			mem.isRechecking.Store(false)
+			mem.recheckFull.Store(false)
 		} else {
 			mem.recheckCursor = mem.recheckCursor.Next()
 		}
@@ -665,21 +673,17 @@ func (mem *CListMempool) Update(
 }
 
 func (mem *CListMempool) recheckTxs() {
-	mem.stopRechecking.Store(false)
 	if mem.Size() == 0 {
 		panic("recheckTxs is called, but the mempool is empty")
 	}
 
 	mem.recheckCursor = mem.txs.Front()
 	mem.recheckEnd = mem.txs.Back()
+	mem.isRechecking.Store(true)
 
 	// Push txs to proxyAppConn
 	// NOTE: globalCb may be called concurrently.
 	for e := mem.txs.Front(); e != nil; e = e.Next() {
-		if mem.stopRechecking.Load() {
-			break
-		}
-
 		memTx := e.Value.(*mempoolTx)
 		mem.proxyAppConn.CheckTxAsync(abci.RequestCheckTx{
 			Tx:   memTx.tx,
@@ -687,7 +691,6 @@ func (mem *CListMempool) recheckTxs() {
 		})
 	}
 
-	mem.stopRechecking.Store(false)
 	mem.proxyAppConn.FlushAsync()
 }
 
diff --git a/mempool/v0/reactor_test.go b/mempool/v0/reactor_test.go
index f4e5f46bd9e..b54c2759a0d 100644
--- a/mempool/v0/reactor_test.go
+++ b/mempool/v0/reactor_test.go
@@ -96,6 +96,7 @@ func TestReactorConcurrency(t *testing.T) {
 		go func() {
 			defer wg.Done()
 
+			reactors[0].mempool.PreUpdate()
 			reactors[0].mempool.Lock()
 			defer reactors[0].mempool.Unlock()
 
@@ -113,6 +114,7 @@ func TestReactorConcurrency(t *testing.T) {
 		go func() {
 			defer wg.Done()
 
+			reactors[1].mempool.PreUpdate()
 			reactors[1].mempool.Lock()
 			defer reactors[1].mempool.Unlock()
 			err := reactors[1].mempool.Update(1, []types.Tx{}, make([]*abci.ResponseDeliverTx, 0), nil, nil)
diff --git a/mempool/v1/mempool.go b/mempool/v1/mempool.go
index b14ac87b338..3650816bac1 100644
--- a/mempool/v1/mempool.go
+++ b/mempool/v1/mempool.go
@@ -117,7 +117,8 @@ func (txmp *TxMempool) Lock() { txmp.mtx.Lock() }
 // Unlock releases a write-lock on the mempool.
 func (txmp *TxMempool) Unlock() { txmp.mtx.Unlock() }
 
-func (txmp *TxMempool) ResetUpdate() {}
+// PreUpdate does nothing on the v1 mempool
+func (txmp *TxMempool) PreUpdate() {}
 
 // Size returns the number of valid transactions in the mempool. It is
 // thread-safe.
diff --git a/state/execution.go b/state/execution.go
index 23e76fb9cd6..a0678ca2aad 100644
--- a/state/execution.go
+++ b/state/execution.go
@@ -296,7 +296,7 @@ func (blockExec *BlockExecutor) Commit(
 	block *types.Block,
 	deliverTxResponses []*abci.ResponseDeliverTx,
 ) ([]byte, int64, error) {
-	blockExec.mempool.ResetUpdate()
+	blockExec.mempool.PreUpdate()
 	blockExec.mempool.Lock()
 	unlockMempool := func() { blockExec.mempool.Unlock() }
 
diff --git a/state/execution_test.go b/state/execution_test.go
index 175fbb595eb..d87feed15c9 100644
--- a/state/execution_test.go
+++ b/state/execution_test.go
@@ -50,7 +50,7 @@ func TestApplyBlock(t *testing.T) {
 	mp := &mpmocks.Mempool{}
 	mp.On("Lock").Return()
 	mp.On("Unlock").Return()
-	mp.On("ResetUpdate").Return()
+	mp.On("PreUpdate").Return()
 	mp.On("FlushAppConn", mock.Anything).Return(nil)
 	mp.On("Update",
 		mock.Anything,
@@ -223,7 +223,7 @@ func TestBeginBlockByzantineValidators(t *testing.T) {
 	mp := &mpmocks.Mempool{}
 	mp.On("Lock").Return()
 	mp.On("Unlock").Return()
-	mp.On("ResetUpdate").Return()
+	mp.On("PreUpdate").Return()
 	mp.On("FlushAppConn", mock.Anything).Return(nil)
 	mp.On("Update",
 		mock.Anything,
@@ -480,7 +480,7 @@ func TestEndBlockValidatorUpdates(t *testing.T) {
 	mp := &mpmocks.Mempool{}
 	mp.On("Lock").Return()
 	mp.On("Unlock").Return()
-	mp.On("ResetUpdate").Return()
+	mp.On("PreUpdate").Return()
 	mp.On("FlushAppConn", mock.Anything).Return(nil)
 	mp.On("Update",
 		mock.Anything,
@@ -607,7 +607,7 @@ func TestEmptyPrepareProposal(t *testing.T) {
 	mp := &mpmocks.Mempool{}
 	mp.On("Lock").Return()
 	mp.On("Unlock").Return()
-	mp.On("ResetUpdate").Return()
+	mp.On("PreUpdate").Return()
 	mp.On("FlushAppConn", mock.Anything).Return(nil)
 	mp.On("Update",
 		mock.Anything,
diff --git a/state/validation_test.go b/state/validation_test.go
index 247c79c8dbe..3b722446527 100644
--- a/state/validation_test.go
+++ b/state/validation_test.go
@@ -35,7 +35,7 @@ func TestValidateBlockHeader(t *testing.T) {
 	mp := &mpmocks.Mempool{}
 	mp.On("Lock").Return()
 	mp.On("Unlock").Return()
-	mp.On("ResetUpdate").Return()
+	mp.On("PreUpdate").Return()
 	mp.On("FlushAppConn", mock.Anything).Return(nil)
 	mp.On("Update",
 		mock.Anything,
@@ -121,7 +121,7 @@ func TestValidateBlockCommit(t *testing.T) {
 	mp := &mpmocks.Mempool{}
 	mp.On("Lock").Return()
 	mp.On("Unlock").Return()
-	mp.On("ResetUpdate").Return()
+	mp.On("PreUpdate").Return()
 	mp.On("FlushAppConn", mock.Anything).Return(nil)
 	mp.On("Update",
 		mock.Anything,
@@ -261,7 +261,7 @@ func TestValidateBlockEvidence(t *testing.T) {
 	mp := &mpmocks.Mempool{}
 	mp.On("Lock").Return()
 	mp.On("Unlock").Return()
-	mp.On("ResetUpdate").Return()
+	mp.On("PreUpdate").Return()
 	mp.On("FlushAppConn", mock.Anything).Return(nil)
 	mp.On("Update",
 		mock.Anything,