diff --git a/NEWS.md b/NEWS.md
index 5bf32c5a6d..1afe5ab1e4 100644
--- a/NEWS.md
+++ b/NEWS.md
@@ -42,6 +42,8 @@
 
 - `spin()` dropped support for `#-` as the chunk delimiter token. Please use `#+` or `# %%` or `#|` instead.
 
+- Faster processing of cache dependencies in `dep_auto()` (thanks, @knokknok, #2318).
+
 # CHANGES IN knitr VERSION 1.45
 
 ## NEW FEATURES
diff --git a/R/block.R b/R/block.R
index dee9bdb8c9..cdc8a6a57b 100644
--- a/R/block.R
+++ b/R/block.R
@@ -345,7 +345,7 @@ eng_r = function(options) {
         objs, cache_globals(options$cache.globals, code), options$label,
         options$cache.path
       )
-      dep_auto()
+      dep_auto(labels = options$label)
     }
     if (options$cache < 3) {
       if (options$cache.rebuild || !cache.exists) block_cache(options, res.orig, objs)
diff --git a/R/cache.R b/R/cache.R
index b45a619fe6..f5f3c63645 100644
--- a/R/cache.R
+++ b/R/cache.R
@@ -142,6 +142,8 @@ cache_rx = '_[abcdef0123456789]{32}[.](rdb|rdx|RData)$'
 #' is similar to the effect of the \code{dependson} option. It is supposed to be
 #' used in the first chunk of a document and this chunk must not be cached.
 #' @param path Path to the dependency file.
+#' @param labels A vector of labels of chunks for which the dependencies will be
+#'   built. By default, dependencies for all chunks will be built.
 #' @return \code{NULL}. The dependencies are built as a side effect.
 #' @note Be cautious about \code{path}: because this function is used in a
 #'   chunk, the working directory when the chunk is evaluated is the directory
@@ -152,7 +154,7 @@ cache_rx = '_[abcdef0123456789]{32}[.](rdb|rdx|RData)$'
 #' @export
 #' @seealso \code{\link{dep_prev}}
 #' @references \url{https://yihui.org/knitr/demo/cache/}
-dep_auto = function(path = opts_chunk$get('cache.path')) {
+dep_auto = function(path = opts_chunk$get('cache.path'), labels = all_labels()) {
   # this function should be evaluated in the original working directory
   owd = setwd(opts_knit$get('output.dir')); on.exit(setwd(owd))
   paths = valid_path(path, c('__objects', '__globals'))
@@ -162,11 +164,10 @@ dep_auto = function(path = opts_chunk$get('cache.path')) {
     warning('corrupt dependency files? \ntry remove ', paste(paths, collapse = '; '))
     return(invisible(NULL))
   }
-  nms = intersect(names(knit_code$get()), names(locals)) # guarantee correct order
-  # locals may contain old chunk names; the intersection can be of length < 2
-  if (length(nms) < 2) return(invisible(NULL))
-  for (i in 2:length(nms)) {
-    if (length(g <- globals[[nms[i]]]) == 0) next
+  nms = intersect(all_labels(), names(locals)) # guarantee correct order
+  for (i in match(labels, nms)) {
+    # ignore first chunk (i < 2); locals may contain old chunk names (i will be NA)
+    if (is.na(i) || i < 2 || length(g <- globals[[nms[i]]]) == 0) next
     for (j in 1:(i - 1L)) {
       # check if current globals are in old locals
       if (any(g %in% locals[[nms[j]]]))
diff --git a/man/dep_auto.Rd b/man/dep_auto.Rd
index 00e18af6e1..5180a2bedc 100644
--- a/man/dep_auto.Rd
+++ b/man/dep_auto.Rd
@@ -4,10 +4,13 @@
 \alias{dep_auto}
 \title{Build automatic dependencies among chunks}
 \usage{
-dep_auto(path = opts_chunk$get("cache.path"))
+dep_auto(path = opts_chunk$get("cache.path"), labels = all_labels())
 }
 \arguments{
 \item{path}{Path to the dependency file.}
+
+\item{labels}{A vector of labels of chunks for which the dependencies will be
+built. By default, dependencies for all chunks will be built.}
 }
 \value{
 \code{NULL}. The dependencies are built as a side effect.