diff --git a/pom.xml b/pom.xml
index d1b05737a1..49496c3d4b 100644
--- a/pom.xml
+++ b/pom.xml
@@ -299,7 +299,7 @@ com.fasterxml.jackson.core.*;version=${project.version}
     <dependency>
       <groupId>ch.randelshofer</groupId>
       <artifactId>fastdoubleparser</artifactId>
-      <version>1.0.0</version>
+      <version>1.0.1</version>
     </dependency>
     <!-- Test dependencies -->
     <dependency>
diff --git a/src/main/java/com/fasterxml/jackson/core/io/BigDecimalParser.java b/src/main/java/com/fasterxml/jackson/core/io/BigDecimalParser.java
index eddbb9347d..2be42744c8 100644
--- a/src/main/java/com/fasterxml/jackson/core/io/BigDecimalParser.java
+++ b/src/main/java/com/fasterxml/jackson/core/io/BigDecimalParser.java
@@ -25,6 +25,7 @@
 public final class BigDecimalParser
 {
     final static int MAX_CHARS_TO_REPORT = 1000;
+    private final static int SIZE_FOR_SWITCH_TO_FASTDOUBLEPARSER = 500;
 
     private BigDecimalParser() {}
 
@@ -40,7 +41,17 @@ private BigDecimalParser() {}
      * @throws NumberFormatException
      */
     public static BigDecimal parse(String valueStr) {
-        return parse(valueStr.toCharArray());
+        try {
+            if (valueStr.length() < SIZE_FOR_SWITCH_TO_FASTDOUBLEPARSER) {
+                return new BigDecimal(valueStr);
+            }
+            return JavaBigDecimalParser.parseBigDecimal(valueStr);
+
+            // 20-Aug-2022, tatu: Although "new BigDecimal(...)" only throws NumberFormatException
+            //    operations by "parseBigDecimal()" can throw "ArithmeticException", so handle both:
+        } catch (ArithmeticException | NumberFormatException e) {
+            throw _parseFailure(e, valueStr);
+        }
     }
 
     /**
@@ -55,7 +66,7 @@ public static BigDecimal parse(String valueStr) {
      */
     public static BigDecimal parse(final char[] chars, final int off, final int len) {
         try {
-            if (len < 500) {
+            if (len < SIZE_FOR_SWITCH_TO_FASTDOUBLEPARSER) {
                 return new BigDecimal(chars, off, len);
             }
             return JavaBigDecimalParser.parseBigDecimal(chars, off, len);
@@ -165,4 +176,5 @@ private static String _generateExceptionMessage(final String valueToReport, fina
         return String.format("Value %s can not be deserialized as `java.math.BigDecimal`, reason:  %s" ,
             valueToReport, desc);
     }
+
 }
diff --git a/src/test/java/com/fasterxml/jackson/core/io/BigDecimalParserTest.java b/src/test/java/com/fasterxml/jackson/core/io/BigDecimalParserTest.java
index bdcdea4ba1..9ec4cc6cda 100644
--- a/src/test/java/com/fasterxml/jackson/core/io/BigDecimalParserTest.java
+++ b/src/test/java/com/fasterxml/jackson/core/io/BigDecimalParserTest.java
@@ -2,6 +2,7 @@
 
 import java.math.BigDecimal;
 
+import ch.randelshofer.fastdoubleparser.JavaBigDecimalParser;
 import org.junit.jupiter.api.Test;
 
 import static org.junit.jupiter.api.Assertions.*;
@@ -51,6 +52,18 @@ void longValidStringFastParse() {
         assertEquals(EXP, BigDecimalParser.parseWithFastParser(num.toCharArray(), 0, num.length()));
     }
 
+    @Test
+    void issueDatabind4694() {
+        final String str = "-11000.0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000";
+        final BigDecimal expected = new BigDecimal(str);
+        assertEquals(expected, JavaBigDecimalParser.parseBigDecimal(str));
+        assertEquals(expected, BigDecimalParser.parse(str));
+        assertEquals(expected, BigDecimalParser.parseWithFastParser(str));
+        final char[] arr = str.toCharArray();
+        assertEquals(expected, BigDecimalParser.parse(arr, 0, arr.length));
+        assertEquals(expected, BigDecimalParser.parseWithFastParser(arr, 0, arr.length));
+    }
+
     static String genLongInvalidString() {
         final int len = 1500;
         final StringBuilder sb = new StringBuilder(len);
diff --git a/src/test/java/com/fasterxml/jackson/core/read/NumberParsingTest.java b/src/test/java/com/fasterxml/jackson/core/read/NumberParsingTest.java
index 676228d89a..c64a9f732f 100644
--- a/src/test/java/com/fasterxml/jackson/core/read/NumberParsingTest.java
+++ b/src/test/java/com/fasterxml/jackson/core/read/NumberParsingTest.java
@@ -28,6 +28,9 @@ protected JsonFactory jsonFactory() {
         return sharedStreamFactory();
     }
 
+    private final String ISSUE_4694_VALUE =
+        "-11000.0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000";
+
     /*
     /**********************************************************************
     /* Tests, Boolean
@@ -996,6 +999,41 @@ void negativeMaxNumberLength() {
         }
     }
 
+    // https://github.com/FasterXML/jackson-databind/issues/4694
+    @Test
+    void databind4694() throws Exception {
+        final BigDecimal expected = new BigDecimal(ISSUE_4694_VALUE);
+        for (int mode : ALL_MODES) {
+            try (JsonParser p = createParser(mode, String.format(" %s ", ISSUE_4694_VALUE))) {
+                assertEquals(JsonToken.VALUE_NUMBER_FLOAT, p.nextToken());
+                assertEquals(expected, p.getDecimalValue());
+                assertFalse(p.isNaN());
+            }
+        }
+    }
+
+    void databind4694Double() throws Exception {
+        final Double expected = new Double(ISSUE_4694_VALUE);
+        for (int mode : ALL_MODES) {
+            try (JsonParser p = createParser(mode, String.format(" %s ", ISSUE_4694_VALUE))) {
+                assertEquals(JsonToken.VALUE_NUMBER_FLOAT, p.nextToken());
+                assertEquals(expected, p.getDoubleValue());
+                assertFalse(p.isNaN());
+            }
+        }
+    }
+
+    void databind4694Float() throws Exception {
+        final Float expected = new Float(ISSUE_4694_VALUE);
+        for (int mode : ALL_MODES) {
+            try (JsonParser p = createParser(mode, String.format(" %s ", ISSUE_4694_VALUE))) {
+                assertEquals(JsonToken.VALUE_NUMBER_FLOAT, p.nextToken());
+                assertEquals(expected, p.getFloatValue());
+                assertFalse(p.isNaN());
+            }
+        }
+    }
+
     /*
     /**********************************************************
     /* Helper methods
diff --git a/src/test/java/com/fasterxml/jackson/failing/BigDecimalParser4694Test.java b/src/test/java/com/fasterxml/jackson/failing/BigDecimalParser4694Test.java
deleted file mode 100644
index 5515fdd747..0000000000
--- a/src/test/java/com/fasterxml/jackson/failing/BigDecimalParser4694Test.java
+++ /dev/null
@@ -1,25 +0,0 @@
-package com.fasterxml.jackson.failing;
-
-import ch.randelshofer.fastdoubleparser.JavaBigDecimalParser;
-import com.fasterxml.jackson.core.io.BigDecimalParser;
-import org.junit.jupiter.api.Test;
-
-import java.math.BigDecimal;
-
-import static org.junit.jupiter.api.Assertions.assertEquals;
-
-class BigDecimalParser4694Test extends com.fasterxml.jackson.core.JUnit5TestBase
-{
-    // https://github.com/FasterXML/jackson-databind/issues/4694
-    @Test
-    void issueDatabind4694() {
-        final String str = "-11000.0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000";
-        final BigDecimal expected = new BigDecimal(str);
-        assertEquals(expected, JavaBigDecimalParser.parseBigDecimal(str));
-        assertEquals(expected, BigDecimalParser.parse(str));
-        assertEquals(expected, BigDecimalParser.parseWithFastParser(str));
-        final char[] arr = str.toCharArray();
-        assertEquals(expected, BigDecimalParser.parse(arr, 0, arr.length));
-        assertEquals(expected, BigDecimalParser.parseWithFastParser(arr, 0, arr.length));
-    }
-}
diff --git a/src/test/java/com/fasterxml/jackson/failing/NumberParsing4694Test.java b/src/test/java/com/fasterxml/jackson/failing/NumberParsing4694Test.java
deleted file mode 100644
index 1dae2ae406..0000000000
--- a/src/test/java/com/fasterxml/jackson/failing/NumberParsing4694Test.java
+++ /dev/null
@@ -1,29 +0,0 @@
-package com.fasterxml.jackson.failing;
-
-import com.fasterxml.jackson.core.JUnit5TestBase;
-import com.fasterxml.jackson.core.JsonParser;
-import com.fasterxml.jackson.core.JsonToken;
-import org.junit.jupiter.api.Test;
-
-import java.math.BigDecimal;
-
-import static org.junit.jupiter.api.Assertions.assertEquals;
-import static org.junit.jupiter.api.Assertions.assertFalse;
-
-class NumberParsing4694Test
-        extends JUnit5TestBase
-{
-    // https://github.com/FasterXML/jackson-databind/issues/4694
-    @Test
-    void databind4694() throws Exception {
-        final String str = "-11000.0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000";
-        final BigDecimal expected = new BigDecimal(str);
-        for (int mode : ALL_MODES) {
-            try (JsonParser p = createParser(mode, String.format(" %s ", str))) {
-                assertEquals(JsonToken.VALUE_NUMBER_FLOAT, p.nextToken());
-                assertEquals(expected, p.getDecimalValue());
-                assertFalse(p.isNaN());
-            }
-        }
-    }
-}