diff --git a/cli/build.rs b/cli/build.rs
index 173c8b85d4..4943b729a1 100644
--- a/cli/build.rs
+++ b/cli/build.rs
@@ -362,8 +362,7 @@ fn create_cli_snapshot(snapshot_path: PathBuf) {
     deno_io::deno_io::init_ops(Default::default()),
     deno_fs::deno_fs::init_ops::<PermissionsContainer>(false),
     deno_flash::deno_flash::init_ops::<PermissionsContainer>(false), // No --unstable
-    deno_node::deno_node_loading::init_ops::<PermissionsContainer>(None), // No --unstable.
-    deno_node::deno_node::init_ops(),
+    deno_node::deno_node::init_ops::<PermissionsContainer>(None),
     cli::init_ops_and_esm(), // NOTE: This needs to be init_ops_and_esm!
   ];
 
diff --git a/cli/node/mod.rs b/cli/node/mod.rs
index 8a2f988e1a..4cbb1ef055 100644
--- a/cli/node/mod.rs
+++ b/cli/node/mod.rs
@@ -680,7 +680,9 @@ pub fn translate_cjs_to_esm(
   let mut handled_reexports: HashSet<String> = HashSet::default();
 
   let mut source = vec![
-    r#"const require = Deno[Deno.internal].require.Module.createRequire(import.meta.url);"#.to_string(),
+    r#"import {createRequire as __internalCreateRequire} from "node:module";
+    const require = __internalCreateRequire(import.meta.url);"#
+      .to_string(),
   ];
 
   let analysis = perform_cjs_analysis(
diff --git a/cli/tests/testdata/commonjs/init.js b/cli/tests/testdata/commonjs/init.js
deleted file mode 100644
index 77992a0ad7..0000000000
--- a/cli/tests/testdata/commonjs/init.js
+++ /dev/null
@@ -1,10 +0,0 @@
-import { fromFileUrl } from "../../../../test_util/std/path/mod.ts";
-
-const DENO_NODE_COMPAT_URL = Deno.env.get("DENO_NODE_COMPAT_URL");
-const moduleAllUrl = `${DENO_NODE_COMPAT_URL}node/module_all.ts`;
-let moduleName = import.meta.resolve(Deno.args[0]);
-moduleName = fromFileUrl(moduleName);
-
-const moduleAll = await import(moduleAllUrl);
-Deno[Deno.internal].node.initialize(moduleAll.default);
-Deno[Deno.internal].require.Module._load(moduleName, null, true);
diff --git a/cli/tools/repl/session.rs b/cli/tools/repl/session.rs
index 5fa3e4b059..350b38bb96 100644
--- a/cli/tools/repl/session.rs
+++ b/cli/tools/repl/session.rs
@@ -507,6 +507,7 @@ impl ReplSession {
         deno_node::initialize_runtime(
           &mut self.worker.js_runtime,
           self.proc_state.options.has_node_modules_dir(),
+          None,
         )?;
         self.has_initialized_node_runtime = true;
       }
diff --git a/cli/worker.rs b/cli/worker.rs
index 2d467e01d5..c505516a07 100644
--- a/cli/worker.rs
+++ b/cli/worker.rs
@@ -301,10 +301,8 @@ impl CliMainWorker {
   }
 
   fn initialize_main_module_for_node(&mut self) -> Result<(), AnyError> {
-    deno_node::initialize_runtime(
-      &mut self.worker.js_runtime,
-      self.ps.options.has_node_modules_dir(),
-    )?;
+    let mut maybe_binary_command_name = None;
+
     if let DenoSubcommand::Run(flags) = self.ps.options.sub_command() {
       if let Ok(pkg_ref) = NpmPackageReqReference::from_str(&flags.script) {
         // if the user ran a binary command, we'll need to set process.argv[0]
@@ -313,12 +311,16 @@ impl CliMainWorker {
           .sub_path
           .as_deref()
           .unwrap_or(pkg_ref.req.name.as_str());
-        deno_node::initialize_binary_command(
-          &mut self.worker.js_runtime,
-          binary_name,
-        )?;
+        maybe_binary_command_name = Some(binary_name.to_string());
       }
     }
+
+    deno_node::initialize_runtime(
+      &mut self.worker.js_runtime,
+      self.ps.options.has_node_modules_dir(),
+      maybe_binary_command_name,
+    )?;
+
     Ok(())
   }
 
@@ -627,6 +629,7 @@ fn create_web_worker_pre_execute_module_callback(
         deno_node::initialize_runtime(
           &mut worker.js_runtime,
           ps.options.has_node_modules_dir(),
+          None,
         )?;
       }
 
diff --git a/ext/node/lib.rs b/ext/node/lib.rs
index e9ac8c060e..5684bf1727 100644
--- a/ext/node/lib.rs
+++ b/ext/node/lib.rs
@@ -95,6 +95,7 @@ fn op_node_build_os() -> String {
 
 deno_core::extension!(deno_node,
   deps = [ deno_io, deno_fs ],
+  parameters = [P: NodePermissions],
   ops = [
     crypto::op_node_create_decipheriv,
     crypto::op_node_cipheriv_encrypt,
@@ -119,10 +120,36 @@ deno_core::extension!(deno_node,
     idna::op_node_idna_punycode_decode,
     idna::op_node_idna_punycode_encode,
     op_node_build_os,
+
+    ops::op_require_init_paths,
+    ops::op_require_node_module_paths<P>,
+    ops::op_require_proxy_path,
+    ops::op_require_is_deno_dir_package,
+    ops::op_require_resolve_deno_dir,
+    ops::op_require_is_request_relative,
+    ops::op_require_resolve_lookup_paths,
+    ops::op_require_try_self_parent_path<P>,
+    ops::op_require_try_self<P>,
+    ops::op_require_real_path<P>,
+    ops::op_require_path_is_absolute,
+    ops::op_require_path_dirname,
+    ops::op_require_stat<P>,
+    ops::op_require_path_resolve,
+    ops::op_require_path_basename,
+    ops::op_require_read_file<P>,
+    ops::op_require_as_file_path,
+    ops::op_require_resolve_exports<P>,
+    ops::op_require_read_closest_package_json<P>,
+    ops::op_require_read_package_scope<P>,
+    ops::op_require_package_imports_resolve<P>,
+    ops::op_require_break_on_next_statement,
   ],
-  esm_entry_point = "ext:deno_node/module_all.ts",
+  esm_entry_point = "ext:deno_node/02_init.js",
   esm = [
     dir "polyfills",
+    "00_globals.js",
+    "01_require.js",
+    "02_init.js",
     "_core.ts",
     "_events.mjs",
     "_fs/_fs_access.ts",
@@ -305,7 +332,6 @@ deno_core::extension!(deno_node,
     "internal/util/inspect.mjs",
     "internal/util/types.ts",
     "internal/validators.mjs",
-    "module_all.ts",
     "net.ts",
     "os.ts",
     "path.ts",
@@ -344,35 +370,6 @@ deno_core::extension!(deno_node,
     "worker_threads.ts",
     "zlib.ts",
   ],
-);
-
-deno_core::extension!(deno_node_loading,
-  parameters = [P: NodePermissions],
-  ops = [
-    ops::op_require_init_paths,
-    ops::op_require_node_module_paths<P>,
-    ops::op_require_proxy_path,
-    ops::op_require_is_deno_dir_package,
-    ops::op_require_resolve_deno_dir,
-    ops::op_require_is_request_relative,
-    ops::op_require_resolve_lookup_paths,
-    ops::op_require_try_self_parent_path<P>,
-    ops::op_require_try_self<P>,
-    ops::op_require_real_path<P>,
-    ops::op_require_path_is_absolute,
-    ops::op_require_path_dirname,
-    ops::op_require_stat<P>,
-    ops::op_require_path_resolve,
-    ops::op_require_path_basename,
-    ops::op_require_read_file<P>,
-    ops::op_require_as_file_path,
-    ops::op_require_resolve_exports<P>,
-    ops::op_require_read_closest_package_json<P>,
-    ops::op_require_read_package_scope<P>,
-    ops::op_require_package_imports_resolve<P>,
-    ops::op_require_break_on_next_statement,
-  ],
-  esm = ["01_node.js", "02_require.js", "module_es_shim.js"],
   options = {
     maybe_npm_resolver: Option<Rc<dyn RequireNpmResolver>>,
   },
@@ -386,16 +383,24 @@ deno_core::extension!(deno_node_loading,
 pub fn initialize_runtime(
   js_runtime: &mut JsRuntime,
   uses_local_node_modules_dir: bool,
+  maybe_binary_command_name: Option<String>,
 ) -> Result<(), AnyError> {
+  let argv0 = if let Some(binary_command_name) = maybe_binary_command_name {
+    format!("\"{}\"", binary_command_name)
+  } else {
+    "undefined".to_string()
+  };
   let source_code = &format!(
-    r#"(function loadBuiltinNodeModules(nodeGlobalThisName, usesLocalNodeModulesDir) {{
-      Deno[Deno.internal].node.initialize(Deno[Deno.internal].nodeModuleAll, nodeGlobalThisName);
-      if (usesLocalNodeModulesDir) {{
-        Deno[Deno.internal].require.setUsesLocalNodeModulesDir();
-      }}
-    }})('{}', {});"#,
+    r#"(function loadBuiltinNodeModules(nodeGlobalThisName, usesLocalNodeModulesDir, argv0) {{
+      Deno[Deno.internal].node.initialize(
+        nodeGlobalThisName, 
+        usesLocalNodeModulesDir,
+        argv0
+      );
+    }})('{}', {}, {});"#,
     NODE_GLOBAL_THIS_NAME.as_str(),
     uses_local_node_modules_dir,
+    argv0
   );
 
   js_runtime.execute_script(&located_script_name!(), source_code)?;
@@ -413,12 +418,9 @@ pub fn load_cjs_module(
   }
 
   let source_code = &format!(
-    r#"(function loadCjsModule(module, inspectBrk) {{
-      if (inspectBrk) {{
-        Deno[Deno.internal].require.setInspectBrk();
-      }}
-      Deno[Deno.internal].require.Module._load(module, null, {main});
-    }})('{module}', {inspect_brk});"#,
+    r#"(function loadCjsModule(moduleName, isMain, inspectBrk) {{
+      Deno[Deno.internal].node.loadCjsModule(moduleName, isMain, inspectBrk);
+    }})('{module}', {main}, {inspect_brk});"#,
     main = main,
     module = escape_for_single_quote_string(module),
     inspect_brk = inspect_brk,
@@ -427,21 +429,3 @@ pub fn load_cjs_module(
   js_runtime.execute_script(&located_script_name!(), source_code)?;
   Ok(())
 }
-
-pub fn initialize_binary_command(
-  js_runtime: &mut JsRuntime,
-  binary_name: &str,
-) -> Result<(), AnyError> {
-  // overwrite what's done in deno_std in order to set the binary arg name
-  let source_code = &format!(
-    r#"(function initializeBinaryCommand(binaryName) {{
-      const process = Deno[Deno.internal].node.globalThis.process;
-      Object.defineProperty(process.argv, "0", {{
-        get: () => binaryName,
-      }});
-    }})('{binary_name}');"#,
-  );
-
-  js_runtime.execute_script(&located_script_name!(), source_code)?;
-  Ok(())
-}
diff --git a/ext/node/module_es_shim.js b/ext/node/module_es_shim.js
deleted file mode 100644
index 2b7c20e26d..0000000000
--- a/ext/node/module_es_shim.js
+++ /dev/null
@@ -1,20 +0,0 @@
-// Copyright 2018-2023 the Deno authors. All rights reserved. MIT license.
-
-const internals = globalThis.__bootstrap.internals;
-const m = internals.require.Module;
-export const _cache = m._cache;
-export const _extensions = m._extensions;
-export const _findPath = m._findPath;
-export const _initPaths = m._initPaths;
-export const _load = m._load;
-export const _nodeModulePaths = m._nodeModulePaths;
-export const _pathCache = m._pathCache;
-export const _preloadModules = m._preloadModules;
-export const _resolveFilename = m._resolveFilename;
-export const _resolveLookupPaths = m._resolveLookupPaths;
-export const builtinModules = m.builtinModules;
-export const createRequire = m.createRequire;
-export const globalPaths = m.globalPaths;
-export const Module = m.Module;
-export const wrap = m.wrap;
-export default m;
diff --git a/ext/node/polyfill.rs b/ext/node/polyfill.rs
index 8577fccad7..1fbb4afa3d 100644
--- a/ext/node/polyfill.rs
+++ b/ext/node/polyfill.rs
@@ -93,7 +93,7 @@ pub static SUPPORTED_BUILTIN_NODE_MODULES: &[NodeModulePolyfill] = &[
   },
   NodeModulePolyfill {
     name: "module",
-    specifier: "ext:deno_node_loading/module_es_shim.js",
+    specifier: "ext:deno_node/01_require.js",
   },
   NodeModulePolyfill {
     name: "net",
diff --git a/ext/node/01_node.js b/ext/node/polyfills/00_globals.js
similarity index 53%
rename from ext/node/01_node.js
rename to ext/node/polyfills/00_globals.js
index 85346a44ba..9952d86aa7 100644
--- a/ext/node/01_node.js
+++ b/ext/node/polyfills/00_globals.js
@@ -2,14 +2,9 @@
 
 // deno-lint-ignore-file
 
-const internals = globalThis.__bootstrap.internals;
 const primordials = globalThis.__bootstrap.primordials;
 const {
-  ArrayPrototypePush,
   ArrayPrototypeFilter,
-  ObjectEntries,
-  ObjectCreate,
-  ObjectDefineProperty,
   Proxy,
   ReflectDefineProperty,
   ReflectDeleteProperty,
@@ -22,13 +17,6 @@ const {
   SetPrototypeHas,
 } = primordials;
 
-function assert(cond) {
-  if (!cond) {
-    throw Error("assert");
-  }
-}
-
-let initialized = false;
 const nodeGlobals = {};
 const nodeGlobalThis = new Proxy(globalThis, {
   get(target, prop) {
@@ -81,41 +69,4 @@ const nodeGlobalThis = new Proxy(globalThis, {
   },
 });
 
-const nativeModuleExports = ObjectCreate(null);
-const builtinModules = [];
-
-function initialize(nodeModules, nodeGlobalThisName) {
-  assert(!initialized);
-  initialized = true;
-  for (const [name, exports] of ObjectEntries(nodeModules)) {
-    nativeModuleExports[name] = exports;
-    ArrayPrototypePush(builtinModules, name);
-  }
-  nodeGlobals.Buffer = nativeModuleExports["buffer"].Buffer;
-  nodeGlobals.clearImmediate = nativeModuleExports["timers"].clearImmediate;
-  nodeGlobals.clearInterval = nativeModuleExports["timers"].clearInterval;
-  nodeGlobals.clearTimeout = nativeModuleExports["timers"].clearTimeout;
-  nodeGlobals.console = nativeModuleExports["console"];
-  nodeGlobals.global = nodeGlobalThis;
-  nodeGlobals.process = nativeModuleExports["process"];
-  nodeGlobals.setImmediate = nativeModuleExports["timers"].setImmediate;
-  nodeGlobals.setInterval = nativeModuleExports["timers"].setInterval;
-  nodeGlobals.setTimeout = nativeModuleExports["timers"].setTimeout;
-
-  // add a hidden global for the esm code to use in order to reliably
-  // get node's globalThis
-  ObjectDefineProperty(globalThis, nodeGlobalThisName, {
-    enumerable: false,
-    writable: false,
-    value: nodeGlobalThis,
-  });
-  // FIXME(bartlomieju): not nice to depend on `Deno` namespace here
-  internals.__bootstrapNodeProcess(Deno.args, Deno.version);
-}
-
-internals.node = {
-  globalThis: nodeGlobalThis,
-  initialize,
-  nativeModuleExports,
-  builtinModules,
-};
+export { nodeGlobals, nodeGlobalThis };
diff --git a/ext/node/02_require.js b/ext/node/polyfills/01_require.js
similarity index 71%
rename from ext/node/02_require.js
rename to ext/node/polyfills/01_require.js
index 43343a21ae..68398df690 100644
--- a/ext/node/02_require.js
+++ b/ext/node/polyfills/01_require.js
@@ -19,6 +19,7 @@ const {
   ObjectPrototypeHasOwnProperty,
   ObjectSetPrototypeOf,
   ObjectKeys,
+  ObjectEntries,
   ObjectPrototype,
   ObjectCreate,
   Proxy,
@@ -39,7 +40,202 @@ const {
   Error,
   TypeError,
 } = primordials;
-const node = internals.node;
+import { nodeGlobalThis } from "ext:deno_node/00_globals.js";
+import _httpAgent from "ext:deno_node/_http_agent.mjs";
+import _httpOutgoing from "ext:deno_node/_http_outgoing.ts";
+import _streamDuplex from "ext:deno_node/internal/streams/duplex.mjs";
+import _streamPassthrough from "ext:deno_node/internal/streams/passthrough.mjs";
+import _streamReadable from "ext:deno_node/internal/streams/readable.mjs";
+import _streamTransform from "ext:deno_node/internal/streams/transform.mjs";
+import _streamWritable from "ext:deno_node/internal/streams/writable.mjs";
+import assert from "ext:deno_node/assert.ts";
+import assertStrict from "ext:deno_node/assert/strict.ts";
+import asyncHooks from "ext:deno_node/async_hooks.ts";
+import buffer from "ext:deno_node/buffer.ts";
+import childProcess from "ext:deno_node/child_process.ts";
+import cluster from "ext:deno_node/cluster.ts";
+import console from "ext:deno_node/console.ts";
+import constants from "ext:deno_node/constants.ts";
+import crypto from "ext:deno_node/crypto.ts";
+import dgram from "ext:deno_node/dgram.ts";
+import diagnosticsChannel from "ext:deno_node/diagnostics_channel.ts";
+import dns from "ext:deno_node/dns.ts";
+import dnsPromises from "ext:deno_node/dns/promises.ts";
+import domain from "ext:deno_node/domain.ts";
+import events from "ext:deno_node/events.ts";
+import fs from "ext:deno_node/fs.ts";
+import fsPromises from "ext:deno_node/fs/promises.ts";
+import http from "ext:deno_node/http.ts";
+import http2 from "ext:deno_node/http2.ts";
+import https from "ext:deno_node/https.ts";
+import inspector from "ext:deno_node/inspector.ts";
+import internalCp from "ext:deno_node/internal/child_process.ts";
+import internalCryptoCertificate from "ext:deno_node/internal/crypto/certificate.ts";
+import internalCryptoCipher from "ext:deno_node/internal/crypto/cipher.ts";
+import internalCryptoDiffiehellman from "ext:deno_node/internal/crypto/diffiehellman.ts";
+import internalCryptoHash from "ext:deno_node/internal/crypto/hash.ts";
+import internalCryptoHkdf from "ext:deno_node/internal/crypto/hkdf.ts";
+import internalCryptoKeygen from "ext:deno_node/internal/crypto/keygen.ts";
+import internalCryptoKeys from "ext:deno_node/internal/crypto/keys.ts";
+import internalCryptoPbkdf2 from "ext:deno_node/internal/crypto/pbkdf2.ts";
+import internalCryptoRandom from "ext:deno_node/internal/crypto/random.ts";
+import internalCryptoScrypt from "ext:deno_node/internal/crypto/scrypt.ts";
+import internalCryptoSig from "ext:deno_node/internal/crypto/sig.ts";
+import internalCryptoUtil from "ext:deno_node/internal/crypto/util.ts";
+import internalCryptoX509 from "ext:deno_node/internal/crypto/x509.ts";
+import internalDgram from "ext:deno_node/internal/dgram.ts";
+import internalDnsPromises from "ext:deno_node/internal/dns/promises.ts";
+import internalErrors from "ext:deno_node/internal/errors.ts";
+import internalEventTarget from "ext:deno_node/internal/event_target.mjs";
+import internalFsUtils from "ext:deno_node/internal/fs/utils.mjs";
+import internalHttp from "ext:deno_node/internal/http.ts";
+import internalReadlineUtils from "ext:deno_node/internal/readline/utils.mjs";
+import internalStreamsAddAbortSignal from "ext:deno_node/internal/streams/add-abort-signal.mjs";
+import internalStreamsBufferList from "ext:deno_node/internal/streams/buffer_list.mjs";
+import internalStreamsLazyTransform from "ext:deno_node/internal/streams/lazy_transform.mjs";
+import internalStreamsState from "ext:deno_node/internal/streams/state.mjs";
+import internalTestBinding from "ext:deno_node/internal/test/binding.ts";
+import internalTimers from "ext:deno_node/internal/timers.mjs";
+import internalUtil from "ext:deno_node/internal/util.mjs";
+import internalUtilInspect from "ext:deno_node/internal/util/inspect.mjs";
+import net from "ext:deno_node/net.ts";
+import os from "ext:deno_node/os.ts";
+import pathPosix from "ext:deno_node/path/posix.ts";
+import pathWin32 from "ext:deno_node/path/win32.ts";
+import path from "ext:deno_node/path.ts";
+import perfHooks from "ext:deno_node/perf_hooks.ts";
+import punycode from "ext:deno_node/punycode.ts";
+import process from "ext:deno_node/process.ts";
+import querystring from "ext:deno_node/querystring.ts";
+import readline from "ext:deno_node/readline.ts";
+import readlinePromises from "ext:deno_node/readline/promises.ts";
+import repl from "ext:deno_node/repl.ts";
+import stream from "ext:deno_node/stream.ts";
+import streamConsumers from "ext:deno_node/stream/consumers.mjs";
+import streamPromises from "ext:deno_node/stream/promises.mjs";
+import streamWeb from "ext:deno_node/stream/web.ts";
+import stringDecoder from "ext:deno_node/string_decoder.ts";
+import sys from "ext:deno_node/sys.ts";
+import timers from "ext:deno_node/timers.ts";
+import timersPromises from "ext:deno_node/timers/promises.ts";
+import tls from "ext:deno_node/tls.ts";
+import tty from "ext:deno_node/tty.ts";
+import url from "ext:deno_node/url.ts";
+import utilTypes from "ext:deno_node/util/types.ts";
+import util from "ext:deno_node/util.ts";
+import v8 from "ext:deno_node/v8.ts";
+import vm from "ext:deno_node/vm.ts";
+import workerThreads from "ext:deno_node/worker_threads.ts";
+import wasi from "ext:deno_node/wasi.ts";
+import zlib from "ext:deno_node/zlib.ts";
+
+const nativeModuleExports = ObjectCreate(null);
+const builtinModules = [];
+
+function setupBuiltinModules() {
+  const nodeModules = {
+    "_http_agent": _httpAgent,
+    "_http_outgoing": _httpOutgoing,
+    "_stream_duplex": _streamDuplex,
+    "_stream_passthrough": _streamPassthrough,
+    "_stream_readable": _streamReadable,
+    "_stream_transform": _streamTransform,
+    "_stream_writable": _streamWritable,
+    assert,
+    "assert/strict": assertStrict,
+    "async_hooks": asyncHooks,
+    buffer,
+    crypto,
+    console,
+    constants,
+    child_process: childProcess,
+    cluster,
+    dgram,
+    diagnostics_channel: diagnosticsChannel,
+    dns,
+    "dns/promises": dnsPromises,
+    domain,
+    events,
+    fs,
+    "fs/promises": fsPromises,
+    http,
+    http2,
+    https,
+    inspector,
+    "internal/child_process": internalCp,
+    "internal/crypto/certificate": internalCryptoCertificate,
+    "internal/crypto/cipher": internalCryptoCipher,
+    "internal/crypto/diffiehellman": internalCryptoDiffiehellman,
+    "internal/crypto/hash": internalCryptoHash,
+    "internal/crypto/hkdf": internalCryptoHkdf,
+    "internal/crypto/keygen": internalCryptoKeygen,
+    "internal/crypto/keys": internalCryptoKeys,
+    "internal/crypto/pbkdf2": internalCryptoPbkdf2,
+    "internal/crypto/random": internalCryptoRandom,
+    "internal/crypto/scrypt": internalCryptoScrypt,
+    "internal/crypto/sig": internalCryptoSig,
+    "internal/crypto/util": internalCryptoUtil,
+    "internal/crypto/x509": internalCryptoX509,
+    "internal/dgram": internalDgram,
+    "internal/dns/promises": internalDnsPromises,
+    "internal/errors": internalErrors,
+    "internal/event_target": internalEventTarget,
+    "internal/fs/utils": internalFsUtils,
+    "internal/http": internalHttp,
+    "internal/readline/utils": internalReadlineUtils,
+    "internal/streams/add-abort-signal": internalStreamsAddAbortSignal,
+    "internal/streams/buffer_list": internalStreamsBufferList,
+    "internal/streams/lazy_transform": internalStreamsLazyTransform,
+    "internal/streams/state": internalStreamsState,
+    "internal/test/binding": internalTestBinding,
+    "internal/timers": internalTimers,
+    "internal/util/inspect": internalUtilInspect,
+    "internal/util": internalUtil,
+    net,
+    os,
+    "path/posix": pathPosix,
+    "path/win32": pathWin32,
+    path,
+    perf_hooks: perfHooks,
+    process,
+    get punycode() {
+      process.emitWarning(
+        "The `punycode` module is deprecated. Please use a userland " +
+          "alternative instead.",
+        "DeprecationWarning",
+        "DEP0040",
+      );
+      return punycode;
+    },
+    querystring,
+    readline,
+    "readline/promises": readlinePromises,
+    repl,
+    stream,
+    "stream/consumers": streamConsumers,
+    "stream/promises": streamPromises,
+    "stream/web": streamWeb,
+    string_decoder: stringDecoder,
+    sys,
+    timers,
+    "timers/promises": timersPromises,
+    tls,
+    tty,
+    url,
+    util,
+    "util/types": utilTypes,
+    v8,
+    vm,
+    wasi,
+    worker_threads: workerThreads,
+    zlib,
+  };
+  for (const [name, moduleExports] of ObjectEntries(nodeModules)) {
+    nativeModuleExports[name] = moduleExports;
+    ArrayPrototypePush(builtinModules, name);
+  }
+}
+setupBuiltinModules();
 
 // Map used to store CJS parsing data.
 const cjsParseCache = new SafeWeakMap();
@@ -55,12 +251,6 @@ function pathResolve(...args) {
   return ops.op_require_path_resolve(args);
 }
 
-function assert(cond) {
-  if (!cond) {
-    throw Error("assert");
-  }
-}
-
 const nativeModulePolyfill = new SafeMap();
 
 const relativeResolveCache = ObjectCreate(null);
@@ -149,7 +339,7 @@ function tryPackage(requestPath, exts, isMain, originalPath) {
       err.requestPath = originalPath;
       throw err;
     } else {
-      node.globalThis.process.emitWarning(
+      nodeGlobalThis.process.emitWarning(
         `Invalid 'main' field in '${packageJsonPath}' of '${pkg}'. ` +
           "Please either fix that or report it to the module author",
         "DeprecationWarning",
@@ -221,7 +411,7 @@ function getExportsForCircularRequire(module) {
 }
 
 function emitCircularRequireWarning(prop) {
-  node.globalThis.process.emitWarning(
+  nodeGlobalThis.process.emitWarning(
     `Accessing non-existent property '${String(prop)}' of module exports ` +
       "inside circular dependency",
   );
@@ -262,7 +452,7 @@ function Module(id = "", parent) {
   this.children = [];
 }
 
-Module.builtinModules = node.builtinModules;
+Module.builtinModules = builtinModules;
 
 Module._extensions = ObjectCreate(null);
 Module._cache = ObjectCreate(null);
@@ -498,7 +688,7 @@ Module._load = function (request, parent, isMain) {
   const module = cachedModule || new Module(filename, parent);
 
   if (isMain) {
-    node.globalThis.process.mainModule = module;
+    nodeGlobalThis.process.mainModule = module;
     mainModule = module;
     module.id = ".";
   }
@@ -639,7 +829,10 @@ Module._resolveFilename = function (
 };
 
 Module.prototype.load = function (filename) {
-  assert(!this.loaded);
+  if (this.loaded) {
+    throw Error("Module already loaded");
+  }
+
   this.filename = filename;
   this.paths = Module._nodeModulePaths(
     pathDirname(filename),
@@ -717,7 +910,7 @@ function wrapSafe(
   const wrapper = Module.wrap(content);
   const [f, err] = core.evalContext(wrapper, `file://${filename}`);
   if (err) {
-    if (node.globalThis.process.mainModule === cjsModuleInstance) {
+    if (nodeGlobalThis.process.mainModule === cjsModuleInstance) {
       enrichCJSError(err.thrown);
     }
     throw err.thrown;
@@ -749,7 +942,7 @@ Module.prototype._compile = function (content, filename) {
     this,
     filename,
     dirname,
-    node.globalThis,
+    nodeGlobalThis,
   );
   if (requireDepth === 0) {
     statCache = null;
@@ -802,7 +995,7 @@ Module._extensions[".node"] = function (module, filename) {
   if (filename.endsWith("fsevents.node")) {
     throw new Error("Using fsevents module is currently not supported");
   }
-  module.exports = ops.op_napi_open(filename, node.globalThis);
+  module.exports = ops.op_napi_open(filename, nodeGlobalThis);
 };
 
 function createRequireFromPath(filename) {
@@ -887,13 +1080,13 @@ Module.syncBuiltinESMExports = function syncBuiltinESMExports() {
 
 Module.Module = Module;
 
-node.nativeModuleExports.module = Module;
+nativeModuleExports.module = Module;
 
 function loadNativeModule(_id, request) {
   if (nativeModulePolyfill.has(request)) {
     return nativeModulePolyfill.get(request);
   }
-  const modExports = node.nativeModuleExports[request];
+  const modExports = nativeModuleExports[request];
   if (modExports) {
     const nodeMod = new Module(request);
     nodeMod.exports = modExports;
@@ -905,7 +1098,7 @@ function loadNativeModule(_id, request) {
 }
 
 function nativeModuleCanBeRequiredByUsers(request) {
-  return !!node.nativeModuleExports[request];
+  return !!nativeModuleExports[request];
 }
 
 function readPackageScope() {
@@ -923,7 +1116,9 @@ function packageSpecifierSubPath(specifier) {
   return ArrayPrototypeJoin(parts, "/");
 }
 
-internals.require = {
+// This is a temporary namespace, that will be removed when initializing
+// in `02_init.js`.
+internals.requireImpl = {
   setUsesLocalNodeModulesDir() {
     usesLocalNodeModulesDir = true;
   },
@@ -931,8 +1126,21 @@ internals.require = {
     hasInspectBrk = true;
   },
   Module,
-  wrapSafe,
-  toRealPath,
-  cjsParseCache,
-  readPackageScope,
+  nativeModuleExports,
 };
+
+export { builtinModules, createRequire, Module };
+export const _cache = Module._cache;
+export const _extensions = Module._extensions;
+export const _findPath = Module._findPath;
+export const _initPaths = Module._initPaths;
+export const _load = Module._load;
+export const _nodeModulePaths = Module._nodeModulePaths;
+export const _pathCache = Module._pathCache;
+export const _preloadModules = Module._preloadModules;
+export const _resolveFilename = Module._resolveFilename;
+export const _resolveLookupPaths = Module._resolveLookupPaths;
+export const globalPaths = Module.globalPaths;
+export const wrap = Module.wrap;
+
+export default Module;
diff --git a/ext/node/polyfills/02_init.js b/ext/node/polyfills/02_init.js
new file mode 100644
index 0000000000..d419c3bcaa
--- /dev/null
+++ b/ext/node/polyfills/02_init.js
@@ -0,0 +1,62 @@
+// Copyright 2018-2023 the Deno authors. All rights reserved. MIT license.
+
+// deno-lint-ignore-file
+
+const internals = globalThis.__bootstrap.internals;
+const requireImpl = internals.requireImpl;
+const primordials = globalThis.__bootstrap.primordials;
+const { ObjectDefineProperty } = primordials;
+import { nodeGlobals, nodeGlobalThis } from "ext:deno_node/00_globals.js";
+import "ext:deno_node/01_require.js";
+
+let initialized = false;
+
+function initialize(
+  nodeGlobalThisName,
+  usesLocalNodeModulesDir,
+  argv0,
+) {
+  if (initialized) {
+    throw Error("Node runtime already initialized");
+  }
+  initialized = true;
+  if (usesLocalNodeModulesDir) {
+    requireImpl.setUsesLocalNodeModulesDir();
+  }
+  const nativeModuleExports = requireImpl.nativeModuleExports;
+  nodeGlobals.Buffer = nativeModuleExports["buffer"].Buffer;
+  nodeGlobals.clearImmediate = nativeModuleExports["timers"].clearImmediate;
+  nodeGlobals.clearInterval = nativeModuleExports["timers"].clearInterval;
+  nodeGlobals.clearTimeout = nativeModuleExports["timers"].clearTimeout;
+  nodeGlobals.console = nativeModuleExports["console"];
+  nodeGlobals.global = nodeGlobalThis;
+  nodeGlobals.process = nativeModuleExports["process"];
+  nodeGlobals.setImmediate = nativeModuleExports["timers"].setImmediate;
+  nodeGlobals.setInterval = nativeModuleExports["timers"].setInterval;
+  nodeGlobals.setTimeout = nativeModuleExports["timers"].setTimeout;
+
+  // add a hidden global for the esm code to use in order to reliably
+  // get node's globalThis
+  ObjectDefineProperty(globalThis, nodeGlobalThisName, {
+    enumerable: false,
+    writable: false,
+    value: nodeGlobalThis,
+  });
+  // FIXME(bartlomieju): not nice to depend on `Deno` namespace here
+  // but it's the only way to get `args` and `version` and this point.
+  internals.__bootstrapNodeProcess(argv0, Deno.args, Deno.version);
+  // `Deno[Deno.internal].requireImpl` will be unreachable after this line.
+  delete internals.requireImpl;
+}
+
+function loadCjsModule(moduleName, isMain, inspectBrk) {
+  if (inspectBrk) {
+    requireImpl.setInspectBrk();
+  }
+  requireImpl.Module._load(moduleName, null, { main: isMain });
+}
+
+internals.node = {
+  initialize,
+  loadCjsModule,
+};
diff --git a/ext/node/polyfills/module_all.ts b/ext/node/polyfills/module_all.ts
deleted file mode 100644
index b48fead0b0..0000000000
--- a/ext/node/polyfills/module_all.ts
+++ /dev/null
@@ -1,191 +0,0 @@
-// Copyright 2018-2023 the Deno authors. All rights reserved. MIT license.
-const internals = globalThis.__bootstrap.internals;
-import _httpAgent from "ext:deno_node/_http_agent.mjs";
-import _httpOutgoing from "ext:deno_node/_http_outgoing.ts";
-import _streamDuplex from "ext:deno_node/internal/streams/duplex.mjs";
-import _streamPassthrough from "ext:deno_node/internal/streams/passthrough.mjs";
-import _streamReadable from "ext:deno_node/internal/streams/readable.mjs";
-import _streamTransform from "ext:deno_node/internal/streams/transform.mjs";
-import _streamWritable from "ext:deno_node/internal/streams/writable.mjs";
-import assert from "ext:deno_node/assert.ts";
-import assertStrict from "ext:deno_node/assert/strict.ts";
-import asyncHooks from "ext:deno_node/async_hooks.ts";
-import buffer from "ext:deno_node/buffer.ts";
-import childProcess from "ext:deno_node/child_process.ts";
-import cluster from "ext:deno_node/cluster.ts";
-import console from "ext:deno_node/console.ts";
-import constants from "ext:deno_node/constants.ts";
-import crypto from "ext:deno_node/crypto.ts";
-import dgram from "ext:deno_node/dgram.ts";
-import diagnosticsChannel from "ext:deno_node/diagnostics_channel.ts";
-import dns from "ext:deno_node/dns.ts";
-import dnsPromises from "ext:deno_node/dns/promises.ts";
-import domain from "ext:deno_node/domain.ts";
-import events from "ext:deno_node/events.ts";
-import fs from "ext:deno_node/fs.ts";
-import fsPromises from "ext:deno_node/fs/promises.ts";
-import http from "ext:deno_node/http.ts";
-import http2 from "ext:deno_node/http2.ts";
-import https from "ext:deno_node/https.ts";
-import inspector from "ext:deno_node/inspector.ts";
-import internalCp from "ext:deno_node/internal/child_process.ts";
-import internalCryptoCertificate from "ext:deno_node/internal/crypto/certificate.ts";
-import internalCryptoCipher from "ext:deno_node/internal/crypto/cipher.ts";
-import internalCryptoDiffiehellman from "ext:deno_node/internal/crypto/diffiehellman.ts";
-import internalCryptoHash from "ext:deno_node/internal/crypto/hash.ts";
-import internalCryptoHkdf from "ext:deno_node/internal/crypto/hkdf.ts";
-import internalCryptoKeygen from "ext:deno_node/internal/crypto/keygen.ts";
-import internalCryptoKeys from "ext:deno_node/internal/crypto/keys.ts";
-import internalCryptoPbkdf2 from "ext:deno_node/internal/crypto/pbkdf2.ts";
-import internalCryptoRandom from "ext:deno_node/internal/crypto/random.ts";
-import internalCryptoScrypt from "ext:deno_node/internal/crypto/scrypt.ts";
-import internalCryptoSig from "ext:deno_node/internal/crypto/sig.ts";
-import internalCryptoUtil from "ext:deno_node/internal/crypto/util.ts";
-import internalCryptoX509 from "ext:deno_node/internal/crypto/x509.ts";
-import internalDgram from "ext:deno_node/internal/dgram.ts";
-import internalDnsPromises from "ext:deno_node/internal/dns/promises.ts";
-import internalErrors from "ext:deno_node/internal/errors.ts";
-import internalEventTarget from "ext:deno_node/internal/event_target.mjs";
-import internalFsUtils from "ext:deno_node/internal/fs/utils.mjs";
-import internalHttp from "ext:deno_node/internal/http.ts";
-import internalReadlineUtils from "ext:deno_node/internal/readline/utils.mjs";
-import internalStreamsAddAbortSignal from "ext:deno_node/internal/streams/add-abort-signal.mjs";
-import internalStreamsBufferList from "ext:deno_node/internal/streams/buffer_list.mjs";
-import internalStreamsLazyTransform from "ext:deno_node/internal/streams/lazy_transform.mjs";
-import internalStreamsState from "ext:deno_node/internal/streams/state.mjs";
-import internalTestBinding from "ext:deno_node/internal/test/binding.ts";
-import internalTimers from "ext:deno_node/internal/timers.mjs";
-import internalUtil from "ext:deno_node/internal/util.mjs";
-import internalUtilInspect from "ext:deno_node/internal/util/inspect.mjs";
-import net from "ext:deno_node/net.ts";
-import os from "ext:deno_node/os.ts";
-import pathPosix from "ext:deno_node/path/posix.ts";
-import pathWin32 from "ext:deno_node/path/win32.ts";
-import path from "ext:deno_node/path.ts";
-import perfHooks from "ext:deno_node/perf_hooks.ts";
-import punycode from "ext:deno_node/punycode.ts";
-import process from "ext:deno_node/process.ts";
-import querystring from "ext:deno_node/querystring.ts";
-import readline from "ext:deno_node/readline.ts";
-import readlinePromises from "ext:deno_node/readline/promises.ts";
-import repl from "ext:deno_node/repl.ts";
-import stream from "ext:deno_node/stream.ts";
-import streamConsumers from "ext:deno_node/stream/consumers.mjs";
-import streamPromises from "ext:deno_node/stream/promises.mjs";
-import streamWeb from "ext:deno_node/stream/web.ts";
-import stringDecoder from "ext:deno_node/string_decoder.ts";
-import sys from "ext:deno_node/sys.ts";
-import timers from "ext:deno_node/timers.ts";
-import timersPromises from "ext:deno_node/timers/promises.ts";
-import tls from "ext:deno_node/tls.ts";
-import tty from "ext:deno_node/tty.ts";
-import url from "ext:deno_node/url.ts";
-import utilTypes from "ext:deno_node/util/types.ts";
-import util from "ext:deno_node/util.ts";
-import v8 from "ext:deno_node/v8.ts";
-import vm from "ext:deno_node/vm.ts";
-import workerThreads from "ext:deno_node/worker_threads.ts";
-import wasi from "ext:deno_node/wasi.ts";
-import zlib from "ext:deno_node/zlib.ts";
-
-// Canonical mapping of supported modules
-const moduleAll = {
-  "_http_agent": _httpAgent,
-  "_http_outgoing": _httpOutgoing,
-  "_stream_duplex": _streamDuplex,
-  "_stream_passthrough": _streamPassthrough,
-  "_stream_readable": _streamReadable,
-  "_stream_transform": _streamTransform,
-  "_stream_writable": _streamWritable,
-  assert,
-  "assert/strict": assertStrict,
-  "async_hooks": asyncHooks,
-  buffer,
-  crypto,
-  console,
-  constants,
-  child_process: childProcess,
-  cluster,
-  dgram,
-  diagnostics_channel: diagnosticsChannel,
-  dns,
-  "dns/promises": dnsPromises,
-  domain,
-  events,
-  fs,
-  "fs/promises": fsPromises,
-  http,
-  http2,
-  https,
-  inspector,
-  "internal/child_process": internalCp,
-  "internal/crypto/certificate": internalCryptoCertificate,
-  "internal/crypto/cipher": internalCryptoCipher,
-  "internal/crypto/diffiehellman": internalCryptoDiffiehellman,
-  "internal/crypto/hash": internalCryptoHash,
-  "internal/crypto/hkdf": internalCryptoHkdf,
-  "internal/crypto/keygen": internalCryptoKeygen,
-  "internal/crypto/keys": internalCryptoKeys,
-  "internal/crypto/pbkdf2": internalCryptoPbkdf2,
-  "internal/crypto/random": internalCryptoRandom,
-  "internal/crypto/scrypt": internalCryptoScrypt,
-  "internal/crypto/sig": internalCryptoSig,
-  "internal/crypto/util": internalCryptoUtil,
-  "internal/crypto/x509": internalCryptoX509,
-  "internal/dgram": internalDgram,
-  "internal/dns/promises": internalDnsPromises,
-  "internal/errors": internalErrors,
-  "internal/event_target": internalEventTarget,
-  "internal/fs/utils": internalFsUtils,
-  "internal/http": internalHttp,
-  "internal/readline/utils": internalReadlineUtils,
-  "internal/streams/add-abort-signal": internalStreamsAddAbortSignal,
-  "internal/streams/buffer_list": internalStreamsBufferList,
-  "internal/streams/lazy_transform": internalStreamsLazyTransform,
-  "internal/streams/state": internalStreamsState,
-  "internal/test/binding": internalTestBinding,
-  "internal/timers": internalTimers,
-  "internal/util/inspect": internalUtilInspect,
-  "internal/util": internalUtil,
-  net,
-  os,
-  "path/posix": pathPosix,
-  "path/win32": pathWin32,
-  path,
-  perf_hooks: perfHooks,
-  process,
-  get punycode() {
-    process.emitWarning(
-      "The `punycode` module is deprecated. Please use a userland " +
-        "alternative instead.",
-      "DeprecationWarning",
-      "DEP0040",
-    );
-    return punycode;
-  },
-  querystring,
-  readline,
-  "readline/promises": readlinePromises,
-  repl,
-  stream,
-  "stream/consumers": streamConsumers,
-  "stream/promises": streamPromises,
-  "stream/web": streamWeb,
-  string_decoder: stringDecoder,
-  sys,
-  timers,
-  "timers/promises": timersPromises,
-  tls,
-  tty,
-  url,
-  util,
-  "util/types": utilTypes,
-  v8,
-  vm,
-  wasi,
-  worker_threads: workerThreads,
-  zlib,
-} as Record<string, unknown>;
-
-internals.nodeModuleAll = moduleAll;
-export default moduleAll;
diff --git a/ext/node/polyfills/process.ts b/ext/node/polyfills/process.ts
index 1f1702785c..eb5a491ae0 100644
--- a/ext/node/polyfills/process.ts
+++ b/ext/node/polyfills/process.ts
@@ -72,28 +72,6 @@ const notImplementedEvents = [
 
 export const argv: string[] = [];
 
-// Overwrites the 1st item with getter.
-// TODO(bartlomieju): added "configurable: true" to make this work for binary
-// commands, but that is probably a wrong solution
-// TODO(bartlomieju): move the configuration for all "argv" to
-// "internals.__bootstrapNodeProcess"
-Object.defineProperty(argv, "0", {
-  get: () => {
-    return Deno.execPath();
-  },
-  configurable: true,
-});
-// Overwrites the 2st item with getter.
-Object.defineProperty(argv, "1", {
-  get: () => {
-    if (Deno.mainModule.startsWith("file:")) {
-      return fromFileUrl(Deno.mainModule);
-    } else {
-      return join(Deno.cwd(), "$deno$node.js");
-    }
-  },
-});
-
 /** https://nodejs.org/api/process.html#process_process_exit_code */
 export const exit = (code?: number | string) => {
   if (code || code === 0) {
@@ -686,9 +664,35 @@ export const removeAllListeners = process.removeAllListeners;
 // Should be called only once, in `runtime/js/99_main.js` when the runtime is
 // bootstrapped.
 internals.__bootstrapNodeProcess = function (
+  argv0: string | undefined,
   args: string[],
   denoVersions: Record<string, string>,
 ) {
+  // Overwrites the 1st item with getter.
+  if (typeof argv0 === "string") {
+    Object.defineProperty(argv, "0", {
+      get: () => {
+        return argv0;
+      },
+    });
+  } else {
+    Object.defineProperty(argv, "0", {
+      get: () => {
+        return Deno.execPath();
+      },
+    });
+  }
+
+  // Overwrites the 2st item with getter.
+  Object.defineProperty(argv, "1", {
+    get: () => {
+      if (Deno.mainModule.startsWith("file:")) {
+        return fromFileUrl(Deno.mainModule);
+      } else {
+        return join(Deno.cwd(), "$deno$node.js");
+      }
+    },
+  });
   for (let i = 0; i < args.length; i++) {
     argv[i + 2] = args[i];
   }
diff --git a/runtime/build.rs b/runtime/build.rs
index e655856b5c..346dbe439c 100644
--- a/runtime/build.rs
+++ b/runtime/build.rs
@@ -296,8 +296,7 @@ mod startup_snapshot {
       runtime::init_ops_and_esm(),
       // FIXME(bartlomieju): these extensions are specified last, because they
       // depend on `runtime`, even though it should be other way around
-      deno_node::deno_node_loading::init_ops_and_esm::<Permissions>(None),
-      deno_node::deno_node::init_ops_and_esm(),
+      deno_node::deno_node::init_ops_and_esm::<Permissions>(None),
       #[cfg(not(feature = "snapshot_from_snapshot"))]
       runtime_main::init_ops_and_esm(),
     ];
diff --git a/runtime/web_worker.rs b/runtime/web_worker.rs
index 1a8d02a1dc..c6fbb83707 100644
--- a/runtime/web_worker.rs
+++ b/runtime/web_worker.rs
@@ -435,10 +435,9 @@ impl WebWorker {
       deno_io::deno_io::init_ops(Some(options.stdio)),
       deno_fs::deno_fs::init_ops::<PermissionsContainer>(unstable),
       deno_flash::deno_flash::init_ops::<PermissionsContainer>(unstable),
-      deno_node::deno_node_loading::init_ops::<PermissionsContainer>(
+      deno_node::deno_node::init_ops::<PermissionsContainer>(
         options.npm_resolver,
       ),
-      deno_node::deno_node::init_ops(),
       // Runtime ops that are always initialized for WebWorkers
       ops::web_worker::deno_web_worker::init_ops(),
       ops::runtime::deno_runtime::init_ops(main_module.clone()),
diff --git a/runtime/worker.rs b/runtime/worker.rs
index ed3478ff01..a995861c5f 100644
--- a/runtime/worker.rs
+++ b/runtime/worker.rs
@@ -257,10 +257,9 @@ impl MainWorker {
       deno_io::deno_io::init_ops(Some(options.stdio)),
       deno_fs::deno_fs::init_ops::<PermissionsContainer>(unstable),
       deno_flash::deno_flash::init_ops::<PermissionsContainer>(unstable),
-      deno_node::deno_node_loading::init_ops::<PermissionsContainer>(
+      deno_node::deno_node::init_ops::<PermissionsContainer>(
         options.npm_resolver,
       ),
-      deno_node::deno_node::init_ops(),
       // Ops from this crate
       ops::runtime::deno_runtime::init_ops(main_module.clone()),
       ops::worker_host::deno_worker_host::init_ops(