diff --git a/eng/Versions.props b/eng/Versions.props
index 021b31aa65bcc..02eefd820a2d4 100644
--- a/eng/Versions.props
+++ b/eng/Versions.props
@@ -41,9 +41,9 @@
     <ProjectServicingConfiguration Include="Microsoft.NETCore.App.Ref" PatchVersion="0" />
   </ItemGroup>
   <PropertyGroup>
-    <!-- For source generator support we need to target a pinned version in order to be able to run on older versions of Roslyn -->
-    <MicrosoftCodeAnalysisCSharpWorkspacesVersion>3.9.0</MicrosoftCodeAnalysisCSharpWorkspacesVersion>
-    <MicrosoftCodeAnalysisVersion>3.9.0</MicrosoftCodeAnalysisVersion>
+    <!-- For source generator support we are targeting the latest version of Roslyn for now, until we can support multi-targeting -->
+    <MicrosoftCodeAnalysisCSharpWorkspacesVersion>4.0.0-3.final</MicrosoftCodeAnalysisCSharpWorkspacesVersion>
+    <MicrosoftCodeAnalysisVersion>4.0.0-3.final</MicrosoftCodeAnalysisVersion>
   </PropertyGroup>
   <PropertyGroup>
     <!-- Code analysis dependencies -->
diff --git a/src/libraries/System.Text.Json/gen/JsonSourceGenerator.Emitter.cs b/src/libraries/System.Text.Json/gen/JsonSourceGenerator.Emitter.cs
index 9fb4433e743bd..ceae5d7a55296 100644
--- a/src/libraries/System.Text.Json/gen/JsonSourceGenerator.Emitter.cs
+++ b/src/libraries/System.Text.Json/gen/JsonSourceGenerator.Emitter.cs
@@ -78,15 +78,15 @@ private sealed partial class Emitter
                 defaultSeverity: DiagnosticSeverity.Warning,
                 isEnabledByDefault: true);
 
-            private readonly GeneratorExecutionContext _executionContext;
+            private readonly SourceProductionContext _sourceProductionContext;
 
             private ContextGenerationSpec _currentContext = null!;
 
             private readonly SourceGenerationSpec _generationSpec = null!;
 
-            public Emitter(in GeneratorExecutionContext executionContext, SourceGenerationSpec generationSpec)
+            public Emitter(in SourceProductionContext sourceProductionContext, SourceGenerationSpec generationSpec)
             {
-                _executionContext = executionContext;
+                _sourceProductionContext = sourceProductionContext;
                 _generationSpec = generationSpec;
             }
 
@@ -165,7 +165,7 @@ namespace {@namespace}
                     sb.AppendLine("}");
                 }
 
-                _executionContext.AddSource(fileName, SourceText.From(sb.ToString(), Encoding.UTF8));
+                _sourceProductionContext.AddSource(fileName, SourceText.From(sb.ToString(), Encoding.UTF8));
             }
 
             private void GenerateTypeInfo(TypeGenerationSpec typeGenerationSpec)
@@ -242,7 +242,7 @@ private void GenerateTypeInfo(TypeGenerationSpec typeGenerationSpec)
                         break;
                     case ClassType.TypeUnsupportedBySourceGen:
                         {
-                            _executionContext.ReportDiagnostic(
+                            _sourceProductionContext.ReportDiagnostic(
                                 Diagnostic.Create(TypeNotSupported, Location.None, new string[] { typeGenerationSpec.TypeRef }));
                             return;
                         }
@@ -258,7 +258,7 @@ private void GenerateTypeInfo(TypeGenerationSpec typeGenerationSpec)
                 }
                 catch (ArgumentException)
                 {
-                    _executionContext.ReportDiagnostic(Diagnostic.Create(DuplicateTypeName, Location.None, new string[] { typeGenerationSpec.TypeInfoPropertyName }));
+                    _sourceProductionContext.ReportDiagnostic(Diagnostic.Create(DuplicateTypeName, Location.None, new string[] { typeGenerationSpec.TypeInfoPropertyName }));
                 }
             }
 
diff --git a/src/libraries/System.Text.Json/gen/JsonSourceGenerator.Parser.cs b/src/libraries/System.Text.Json/gen/JsonSourceGenerator.Parser.cs
index 33a60562a3a10..2d38c15ddc0ce 100644
--- a/src/libraries/System.Text.Json/gen/JsonSourceGenerator.Parser.cs
+++ b/src/libraries/System.Text.Json/gen/JsonSourceGenerator.Parser.cs
@@ -4,6 +4,7 @@
 using System.Collections;
 using System.Collections.Concurrent;
 using System.Collections.Generic;
+using System.Collections.Immutable;
 using System.Diagnostics;
 using System.Diagnostics.CodeAnalysis;
 using System.Linq;
@@ -31,7 +32,8 @@ private sealed class Parser
             private const string JsonPropertyNameAttributeFullName = "System.Text.Json.Serialization.JsonPropertyNameAttribute";
             private const string JsonPropertyOrderAttributeFullName = "System.Text.Json.Serialization.JsonPropertyOrderAttribute";
 
-            private readonly GeneratorExecutionContext _executionContext;
+            private readonly Compilation _compilation;
+            private readonly SourceProductionContext _sourceProductionContext;
             private readonly MetadataLoadContextInternal _metadataLoadContext;
 
             private readonly Type _ilistOfTType;
@@ -96,10 +98,11 @@ private sealed class Parser
                 defaultSeverity: DiagnosticSeverity.Error,
                 isEnabledByDefault: true);
 
-            public Parser(in GeneratorExecutionContext executionContext)
+            public Parser(Compilation compilation, in SourceProductionContext sourceProductionContext)
             {
-                _executionContext = executionContext;
-                _metadataLoadContext = new MetadataLoadContextInternal(executionContext.Compilation);
+                _compilation = compilation;
+                _sourceProductionContext = sourceProductionContext;
+                _metadataLoadContext = new MetadataLoadContextInternal(_compilation);
 
                 _ilistOfTType = _metadataLoadContext.Resolve(SpecialType.System_Collections_Generic_IList_T);
                 _icollectionOfTType = _metadataLoadContext.Resolve(SpecialType.System_Collections_Generic_ICollection_T);
@@ -138,9 +141,9 @@ public Parser(in GeneratorExecutionContext executionContext)
                 PopulateKnownTypes();
             }
 
-            public SourceGenerationSpec? GetGenerationSpec(List<ClassDeclarationSyntax> classDeclarationSyntaxList)
+            public SourceGenerationSpec? GetGenerationSpec(ImmutableArray<ClassDeclarationSyntax> classDeclarationSyntaxList)
             {
-                Compilation compilation = _executionContext.Compilation;
+                Compilation compilation = _compilation;
                 INamedTypeSymbol jsonSerializerContextSymbol = compilation.GetTypeByMetadataName("System.Text.Json.Serialization.JsonSerializerContext");
                 INamedTypeSymbol jsonSerializableAttributeSymbol = compilation.GetTypeByMetadataName("System.Text.Json.Serialization.JsonSerializableAttribute");
                 INamedTypeSymbol jsonSourceGenerationOptionsAttributeSymbol = compilation.GetTypeByMetadataName("System.Text.Json.Serialization.JsonSourceGenerationOptionsAttribute");
@@ -198,7 +201,7 @@ public Parser(in GeneratorExecutionContext executionContext)
                     if (!TryGetClassDeclarationList(contextTypeSymbol, out List<string> classDeclarationList))
                     {
                         // Class or one of its containing types is not partial so we can't add to it.
-                        _executionContext.ReportDiagnostic(Diagnostic.Create(ContextClassesMustBePartial, Location.None, new string[] { contextTypeSymbol.Name }));
+                        _sourceProductionContext.ReportDiagnostic(Diagnostic.Create(ContextClassesMustBePartial, Location.None, new string[] { contextTypeSymbol.Name }));
                         continue;
                     }
 
@@ -729,7 +732,7 @@ private TypeGenerationSpec GetOrAddTypeGenerationSpec(Type type, JsonSourceGener
                     if (!type.TryGetDeserializationConstructor(useDefaultCtorInAnnotatedStructs, out ConstructorInfo? constructor))
                     {
                         classType = ClassType.TypeUnsupportedBySourceGen;
-                        _executionContext.ReportDiagnostic(Diagnostic.Create(MultipleJsonConstructorAttribute, Location.None, new string[] { $"{type}" }));
+                        _sourceProductionContext.ReportDiagnostic(Diagnostic.Create(MultipleJsonConstructorAttribute, Location.None, new string[] { $"{type}" }));
                     }
                     else
                     {
diff --git a/src/libraries/System.Text.Json/gen/JsonSourceGenerator.cs b/src/libraries/System.Text.Json/gen/JsonSourceGenerator.cs
index 84212e8c19c78..54b76c7e061ba 100644
--- a/src/libraries/System.Text.Json/gen/JsonSourceGenerator.cs
+++ b/src/libraries/System.Text.Json/gen/JsonSourceGenerator.cs
@@ -2,6 +2,7 @@
 // The .NET Foundation licenses this file to you under the MIT license.
 
 using System.Collections.Generic;
+using System.Collections.Immutable;
 using System.Diagnostics;
 using System.Linq;
 using System.Reflection;
@@ -16,22 +17,23 @@ namespace System.Text.Json.SourceGeneration
     /// Generates source code to optimize serialization and deserialization with JsonSerializer.
     /// </summary>
     [Generator]
-    public sealed partial class JsonSourceGenerator : ISourceGenerator
+    public sealed partial class JsonSourceGenerator : IIncrementalGenerator
     {
-        /// <summary>
-        /// Registers a syntax resolver to receive compilation units.
-        /// </summary>
-        /// <param name="context"></param>
-        public void Initialize(GeneratorInitializationContext context)
+        private const string SystemTextJsonSourceGenerationName = "System.Text.Json.SourceGeneration";
+        private const string IJsonOnSerializedFullName = "System.Text.Json.Serialization.IJsonOnSerialized";
+        private const string IJsonOnSerializingFullName = "System.Text.Json.Serialization.IJsonOnSerializing";
+
+
+        public void Initialize(IncrementalGeneratorInitializationContext context)
         {
-            context.RegisterForSyntaxNotifications(() => new SyntaxReceiver());
+            var classDeclarations = context.SyntaxProvider.CreateSyntaxProvider((s, _) => s is ClassDeclarationSyntax, (s, _) => (ClassDeclarationSyntax)s.Node);
+
+            var compilationAndClasses = context.CompilationProvider.Combine(classDeclarations.Collect());
+
+            context.RegisterSourceOutput(compilationAndClasses, (spc, source) => Execute(source.Left, source.Right, spc));
         }
 
-        /// <summary>
-        /// Generates source code to optimize serialization and deserialization with JsonSerializer.
-        /// </summary>
-        /// <param name="executionContext"></param>
-        public void Execute(GeneratorExecutionContext executionContext)
+        private void Execute(Compilation compilation, ImmutableArray<ClassDeclarationSyntax> contextClasses, SourceProductionContext context)
         {
 #if LAUNCH_DEBUGGER
             if (!Diagnostics.Debugger.IsAttached)
@@ -39,36 +41,22 @@ public void Execute(GeneratorExecutionContext executionContext)
                 Diagnostics.Debugger.Launch();
             }
 #endif
-            SyntaxReceiver receiver = (SyntaxReceiver)executionContext.SyntaxReceiver;
-            List<ClassDeclarationSyntax>? contextClasses = receiver.ClassDeclarationSyntaxList;
-            if (contextClasses == null)
+            if (contextClasses.IsDefaultOrEmpty)
             {
                 return;
             }
 
-            Parser parser = new(executionContext);
-            SourceGenerationSpec? spec = parser.GetGenerationSpec(receiver.ClassDeclarationSyntaxList);
+            Parser parser = new(compilation, context);
+            SourceGenerationSpec? spec = parser.GetGenerationSpec(contextClasses);
             if (spec != null)
             {
                 _rootTypes = spec.ContextGenerationSpecList[0].RootSerializableTypes;
 
-                Emitter emitter = new(executionContext, spec);
+                Emitter emitter = new(context, spec);
                 emitter.Emit();
             }
         }
 
-        private sealed class SyntaxReceiver : ISyntaxReceiver
-        {
-            public List<ClassDeclarationSyntax>? ClassDeclarationSyntaxList { get; private set; }
-
-            public void OnVisitSyntaxNode(SyntaxNode syntaxNode)
-            {
-                if (syntaxNode is ClassDeclarationSyntax { AttributeLists.Count: > 0, BaseList.Types.Count: > 0 } cds)
-                {
-                    (ClassDeclarationSyntaxList ??= new List<ClassDeclarationSyntax>()).Add(cds);
-                }
-            }
-        }
 
         /// <summary>
         /// Helper for unit tests.