diff --git a/packages/create-react-native-library/templates/common/babel.config.js b/packages/create-react-native-library/templates/common/babel.config.js
index 29f3a6069..5d51f258a 100644
--- a/packages/create-react-native-library/templates/common/babel.config.js
+++ b/packages/create-react-native-library/templates/common/babel.config.js
@@ -1,5 +1,3 @@
 module.exports = {
-  presets: [
-    ['module:react-native-builder-bob/babel-preset', { modules: 'commonjs' }],
-  ],
+  presets: ['module:react-native-builder-bob/babel-preset'],
 };
diff --git a/packages/react-native-builder-bob/babel-preset.js b/packages/react-native-builder-bob/babel-preset.js
index 44820fabc..4a239d946 100644
--- a/packages/react-native-builder-bob/babel-preset.js
+++ b/packages/react-native-builder-bob/babel-preset.js
@@ -4,12 +4,14 @@ const browserslist = require('browserslist');
 
 /**
  * Babel preset for React Native Builder Bob
- * @param {'commonjs' | 'preserve'} options.modules - Whether to compile modules to CommonJS or preserve them
- * @param {Boolean} options.esm - Whether to output ES module compatible code, e.g. by adding extension to import/export statements
- * @param {'automatic' | 'classic'} options.jsxRuntime - Which JSX runtime to use, defaults to 'automatic'
  */
 module.exports = function (api, options, cwd) {
-  const cjs = options.modules === 'commonjs';
+  const opt = (name) =>
+    api.caller((caller) => (caller != null ? caller[name] : undefined));
+
+  const supportsStaticESM = opt('supportsStaticESM');
+  const rewriteImportExtensions = opt('rewriteImportExtensions');
+  const jsxRuntime = opt('jsxRuntime');
 
   return {
     presets: [
@@ -32,14 +34,13 @@ module.exports = function (api, options, cwd) {
             node: '18',
           },
           useBuiltIns: false,
-          modules: cjs ? 'commonjs' : false,
+          modules: supportsStaticESM ? false : 'commonjs',
         },
       ],
       [
         require.resolve('@babel/preset-react'),
         {
-          runtime:
-            options.jsxRuntime !== undefined ? options.jsxRuntime : 'automatic',
+          runtime: jsxRuntime !== undefined ? jsxRuntime : 'automatic',
         },
       ],
       require.resolve('@babel/preset-typescript'),
@@ -50,7 +51,7 @@ module.exports = function (api, options, cwd) {
       [
         require.resolve('./lib/babel'),
         {
-          extension: options.esm ? 'js' : undefined,
+          extension: rewriteImportExtensions ? 'js' : undefined,
         },
       ],
     ],
diff --git a/packages/react-native-builder-bob/src/types.ts b/packages/react-native-builder-bob/src/types.ts
index 39848d71e..1a20240be 100644
--- a/packages/react-native-builder-bob/src/types.ts
+++ b/packages/react-native-builder-bob/src/types.ts
@@ -21,3 +21,10 @@ export type Options = {
   targets?: (Target | [target: Target, options: object])[];
   exclude?: string;
 };
+
+declare module '@babel/core' {
+  export interface TransformCaller {
+    rewriteImportExtensions: boolean;
+    jsxRuntime: 'automatic' | 'classic';
+  }
+}
diff --git a/packages/react-native-builder-bob/src/utils/compile.ts b/packages/react-native-builder-bob/src/utils/compile.ts
index d7249bdfb..b49ee0dcc 100644
--- a/packages/react-native-builder-bob/src/utils/compile.ts
+++ b/packages/react-native-builder-bob/src/utils/compile.ts
@@ -97,6 +97,16 @@ export default async function compile({
 
       const content = await fs.readFile(filepath, 'utf-8');
       const result = await babel.transformAsync(content, {
+        caller: {
+          name: 'react-native-builder-bob',
+          supportsStaticESM:
+            /\.m[jt]s$/.test(filepath) || // If a file is explicitly marked as ESM, then preserve the syntax
+            modules === 'preserve'
+              ? true
+              : false,
+          rewriteImportExtensions: esm,
+          jsxRuntime,
+        },
         cwd: root,
         babelrc: babelrc,
         configFile: configFile,
@@ -107,18 +117,7 @@ export default async function compile({
         ...(babelrc || configFile
           ? null
           : {
-              presets: [
-                [
-                  require.resolve('../../babel-preset'),
-                  {
-                    modules:
-                      // If a file is explicitly marked as ESM, then preserve the syntax
-                      /\.m[jt]s$/.test(filepath) ? 'preserve' : modules,
-                    esm,
-                    jsxRuntime,
-                  },
-                ],
-              ],
+              presets: [require.resolve('../../babel-preset')],
             }),
       });