diff --git a/CHANGELOG.md b/CHANGELOG.md
index 1dbd46fc7..e40edde5e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -16,6 +16,7 @@ This change log adheres to standards from [Keep a CHANGELOG](https://keepachange
 
 ### Changed
 - [Docs] [`no-relative-packages`]: fix typo ([#3066], thanks [@joshuaobrien])
+- [Performance] [`no-cycle`]: dont scc for each linted file ([#3068], thanks [@soryy708])
 
 ## [2.30.0] - 2024-09-02
 
@@ -1140,6 +1141,7 @@ for info on changes for earlier releases.
 
 [`memo-parser`]: ./memo-parser/README.md
 
+[#3068]: https://github.com/import-js/eslint-plugin-import/pull/3068
 [#3066]: https://github.com/import-js/eslint-plugin-import/pull/3066
 [#3065]: https://github.com/import-js/eslint-plugin-import/pull/3065
 [#3052]: https://github.com/import-js/eslint-plugin-import/pull/3052
diff --git a/src/scc.js b/src/scc.js
index 44c818bbe..c2b2c637d 100644
--- a/src/scc.js
+++ b/src/scc.js
@@ -18,12 +18,18 @@ export default class StronglyConnectedComponentsBuilder {
   }
 
   static for(context) {
-    const cacheKey = context.cacheKey || hashObject(context).digest('hex');
+    const settingsHash = hashObject({
+      settings: context.settings,
+      parserOptions: context.parserOptions,
+      parserPath: context.parserPath,
+    }).digest('hex');
+    const cacheKey = context.path + settingsHash;
     if (cache.has(cacheKey)) {
       return cache.get(cacheKey);
     }
     const scc = StronglyConnectedComponentsBuilder.calculate(context);
-    cache.set(cacheKey, scc);
+    const visitedFiles = Object.keys(scc);
+    visitedFiles.forEach((filePath) => cache.set(filePath + settingsHash, scc));
     return scc;
   }