diff --git a/src/plugins/loader.test.ts b/src/plugins/loader.test.ts
index fc0f6c2f208..c99ccbf41f0 100644
--- a/src/plugins/loader.test.ts
+++ b/src/plugins/loader.test.ts
@@ -3462,6 +3462,47 @@ module.exports = {
     expect(subpaths).toEqual(["channel-runtime", "core"]);
   });
 
+  it("builds plugin-sdk aliases from the module being loaded, not the loader location", () => {
+    const fixture = createPluginSdkAliasFixture({
+      srcFile: "channel-runtime.ts",
+      distFile: "channel-runtime.js",
+      packageExports: {
+        "./plugin-sdk/channel-runtime": { default: "./dist/plugin-sdk/channel-runtime.js" },
+      },
+    });
+    const sourceRootAlias = path.join(fixture.root, "src", "plugin-sdk", "root-alias.cjs");
+    const distRootAlias = path.join(fixture.root, "dist", "plugin-sdk", "root-alias.cjs");
+    fs.writeFileSync(sourceRootAlias, "module.exports = {};\n", "utf-8");
+    fs.writeFileSync(distRootAlias, "module.exports = {};\n", "utf-8");
+    const sourcePluginEntry = path.join(fixture.root, "extensions", "demo", "src", "index.ts");
+    fs.mkdirSync(path.dirname(sourcePluginEntry), { recursive: true });
+    fs.writeFileSync(sourcePluginEntry, 'export const plugin = "demo";\n', "utf-8");
+
+    const sourceAliases = withEnv({ NODE_ENV: undefined }, () =>
+      __testing.buildPluginLoaderAliasMap(sourcePluginEntry),
+    );
+    expect(fs.realpathSync(sourceAliases["openclaw/plugin-sdk"] ?? "")).toBe(
+      fs.realpathSync(sourceRootAlias),
+    );
+    expect(fs.realpathSync(sourceAliases["openclaw/plugin-sdk/channel-runtime"] ?? "")).toBe(
+      fs.realpathSync(path.join(fixture.root, "src", "plugin-sdk", "channel-runtime.ts")),
+    );
+
+    const distPluginEntry = path.join(fixture.root, "dist", "extensions", "demo", "index.js");
+    fs.mkdirSync(path.dirname(distPluginEntry), { recursive: true });
+    fs.writeFileSync(distPluginEntry, 'export const plugin = "demo";\n', "utf-8");
+
+    const distAliases = withEnv({ NODE_ENV: undefined }, () =>
+      __testing.buildPluginLoaderAliasMap(distPluginEntry),
+    );
+    expect(fs.realpathSync(distAliases["openclaw/plugin-sdk"] ?? "")).toBe(
+      fs.realpathSync(distRootAlias),
+    );
+    expect(fs.realpathSync(distAliases["openclaw/plugin-sdk/channel-runtime"] ?? "")).toBe(
+      fs.realpathSync(path.join(fixture.root, "dist", "plugin-sdk", "channel-runtime.js")),
+    );
+  });
+
   it("does not resolve plugin-sdk alias files from cwd fallback when package root is not an OpenClaw root", () => {
     const fixture = createPluginSdkAliasFixture({
       srcFile: "channel-runtime.ts",
diff --git a/src/plugins/loader.ts b/src/plugins/loader.ts
index b1aff47073c..68ba5b8403a 100644
--- a/src/plugins/loader.ts
+++ b/src/plugins/loader.ts
@@ -104,8 +104,20 @@ function resolveLoaderModulePath(params: LoaderModuleResolveParams = {}): string
   return params.modulePath ?? fileURLToPath(params.moduleUrl ?? import.meta.url);
 }
 
-const resolvePluginSdkAlias = (): string | null =>
-  resolvePluginSdkAliasFile({ srcFile: "root-alias.cjs", distFile: "root-alias.cjs" });
+const resolvePluginSdkAlias = (params: LoaderModuleResolveParams = {}): string | null =>
+  resolvePluginSdkAliasFile({
+    srcFile: "root-alias.cjs",
+    distFile: "root-alias.cjs",
+    ...params,
+  });
+
+function buildPluginLoaderAliasMap(modulePath: string): Record<string, string> {
+  const pluginSdkAlias = resolvePluginSdkAlias({ modulePath });
+  return {
+    ...(pluginSdkAlias ? { "openclaw/plugin-sdk": pluginSdkAlias } : {}),
+    ...resolvePluginSdkScopedAliasMap({ modulePath }),
+  };
+}
 
 function resolvePluginRuntimeModulePath(params: LoaderModuleResolveParams = {}): string | null {
   try {
@@ -138,6 +150,7 @@ function resolvePluginRuntimeModulePath(params: LoaderModuleResolveParams = {}):
 
 export const __testing = {
   buildPluginLoaderJitiOptions,
+  buildPluginLoaderAliasMap,
   listPluginSdkAliasCandidates,
   listPluginSdkExportedSubpaths,
   resolvePluginSdkScopedAliasMap,
@@ -704,18 +717,18 @@ export function loadOpenClawPlugins(options: PluginLoadOptions = {}): PluginRegi
   }
 
   // Lazy: avoid creating the Jiti loader when all plugins are disabled (common in unit tests).
-  const jitiLoaders = new Map<boolean, ReturnType<typeof createJiti>>();
+  const jitiLoaders = new Map<string, ReturnType<typeof createJiti>>();
   const getJiti = (modulePath: string) => {
     const tryNative = shouldPreferNativeJiti(modulePath);
-    const cached = jitiLoaders.get(tryNative);
+    const aliasMap = buildPluginLoaderAliasMap(modulePath);
+    const cacheKey = JSON.stringify({
+      tryNative,
+      aliasMap: Object.entries(aliasMap).toSorted(([left], [right]) => left.localeCompare(right)),
+    });
+    const cached = jitiLoaders.get(cacheKey);
     if (cached) {
       return cached;
     }
-    const pluginSdkAlias = resolvePluginSdkAlias();
-    const aliasMap = {
-      ...(pluginSdkAlias ? { "openclaw/plugin-sdk": pluginSdkAlias } : {}),
-      ...resolvePluginSdkScopedAliasMap(),
-    };
     const loader = createJiti(import.meta.url, {
       ...buildPluginLoaderJitiOptions(aliasMap),
       // Source .ts runtime shims import sibling ".js" specifiers that only exist
@@ -724,7 +737,7 @@ export function loadOpenClawPlugins(options: PluginLoadOptions = {}): PluginRegi
       // loading for the canonical built module graph.
       tryNative,
     });
-    jitiLoaders.set(tryNative, loader);
+    jitiLoaders.set(cacheKey, loader);
     return loader;
   };