diff --git a/.changeset/popular-buttons-behave.md b/.changeset/popular-buttons-behave.md
new file mode 100644
index 0000000000..16320714b8
--- /dev/null
+++ b/.changeset/popular-buttons-behave.md
@@ -0,0 +1,5 @@
+---
+'@ice/rspack-config': patch
+---
+
+fix: support compileDendencies in speedup mode
diff --git a/packages/rspack-config/src/index.ts b/packages/rspack-config/src/index.ts
index 205a3441dd..b614513dde 100644
--- a/packages/rspack-config/src/index.ts
+++ b/packages/rspack-config/src/index.ts
@@ -169,7 +169,16 @@ const getConfig: GetConfig = async (options) => {
   if (!compileIncludes || compileIncludes?.length === 0) {
     excludeRule = 'node_modules';
   } else if (!compileIncludes?.includes('node_modules') && compileIncludes?.length > 0) {
-    excludeRule = `node_modules[\\/](?!${compileIncludes.map((pkg: string) => {
+    const flattenIncludes = [];
+    compileIncludes.forEach((pkg) => {
+      if (typeof pkg === 'string') {
+        flattenIncludes.push(pkg);
+      } else {
+        // The RegExp type of pkg may include multiple source paths.
+        flattenIncludes.push(...pkg.source.split('|'));
+      }
+    });
+    excludeRule = `node_modules[\\/](?!${flattenIncludes.map((pkg: string) => {
       return `${pkg}[\\/]|_${pkg.replace('/', '_')}@[^/]+[\\/]`;
     }).join('|')}).*`;
   }