diff --git a/packages/compiler-ssr/__tests__/ssrVModel.spec.ts b/packages/compiler-ssr/__tests__/ssrVModel.spec.ts
index 8a439dbf4b5..d931e16e6a4 100644
--- a/packages/compiler-ssr/__tests__/ssrVModel.spec.ts
+++ b/packages/compiler-ssr/__tests__/ssrVModel.spec.ts
@@ -292,6 +292,197 @@ describe('ssr: v-model', () => {
         _push(\`<!--]--></optgroup></select></div>\`)
       }"
     `)
+
+    expect(
+      compileWithWrapper(
+        `<select v-model="model"><option>foo</option></select>`,
+      ).code,
+    ).toMatchInlineSnapshot(`
+      "const { ssrIncludeBooleanAttr: _ssrIncludeBooleanAttr, ssrLooseContain: _ssrLooseContain, ssrLooseEqual: _ssrLooseEqual, ssrRenderAttrs: _ssrRenderAttrs } = require("vue/server-renderer")
+
+      return function ssrRender(_ctx, _push, _parent, _attrs) {
+        _push(\`<div\${
+          _ssrRenderAttrs(_attrs)
+        }><select><option\${
+          (_ssrIncludeBooleanAttr((Array.isArray(_ctx.model))
+            ? _ssrLooseContain(_ctx.model, "foo")
+            : _ssrLooseEqual(_ctx.model, "foo"))) ? " selected" : ""
+        }>foo</option></select></div>\`)
+      }"
+    `)
+
+    expect(
+      compileWithWrapper(
+        `<select v-model="model"><option> foo </option></select>`,
+      ).code,
+    ).toMatchInlineSnapshot(`
+      "const { ssrIncludeBooleanAttr: _ssrIncludeBooleanAttr, ssrLooseContain: _ssrLooseContain, ssrLooseEqual: _ssrLooseEqual, ssrRenderAttrs: _ssrRenderAttrs } = require("vue/server-renderer")
+
+      return function ssrRender(_ctx, _push, _parent, _attrs) {
+        _push(\`<div\${
+          _ssrRenderAttrs(_attrs)
+        }><select><option\${
+          (_ssrIncludeBooleanAttr((Array.isArray(_ctx.model))
+            ? _ssrLooseContain(_ctx.model, "foo")
+            : _ssrLooseEqual(_ctx.model, "foo"))) ? " selected" : ""
+        }> foo </option></select></div>\`)
+      }"
+    `)
+
+    expect(
+      compileWithWrapper(
+        `<select v-model="model"><option>{{ myValue }}</option></select>`,
+      ).code,
+    ).toMatchInlineSnapshot(`
+      "const { ssrIncludeBooleanAttr: _ssrIncludeBooleanAttr, ssrLooseContain: _ssrLooseContain, ssrLooseEqual: _ssrLooseEqual, ssrRenderAttrs: _ssrRenderAttrs, ssrInterpolate: _ssrInterpolate } = require("vue/server-renderer")
+
+      return function ssrRender(_ctx, _push, _parent, _attrs) {
+        _push(\`<div\${
+          _ssrRenderAttrs(_attrs)
+        }><select><option\${
+          (_ssrIncludeBooleanAttr((Array.isArray(_ctx.model))
+            ? _ssrLooseContain(_ctx.model, _ctx.myValue)
+            : _ssrLooseEqual(_ctx.model, _ctx.myValue))) ? " selected" : ""
+        }>\${
+          _ssrInterpolate(_ctx.myValue)
+        }</option></select></div>\`)
+      }"
+    `)
+
+    expect(
+      compileWithWrapper(
+        `<select v-model="model">
+          <option>
+            A
+            B
+            <!--comment-->
+            <!--comment-->
+            C
+            {{ myValue1 }}
+            D
+            <!--comment-->
+            {{ myValue2 }}
+            <!--comment-->E
+            <!--comment-->
+          </option>
+        </select>`,
+      ).code,
+    ).toMatchInlineSnapshot(`
+      "const { ssrIncludeBooleanAttr: _ssrIncludeBooleanAttr, ssrLooseContain: _ssrLooseContain, ssrLooseEqual: _ssrLooseEqual, ssrRenderAttrs: _ssrRenderAttrs, ssrInterpolate: _ssrInterpolate } = require("vue/server-renderer")
+
+      return function ssrRender(_ctx, _push, _parent, _attrs) {
+        _push(\`<div\${
+          _ssrRenderAttrs(_attrs)
+        }><select><option\${
+          (_ssrIncludeBooleanAttr((Array.isArray(_ctx.model))
+            ? _ssrLooseContain(_ctx.model, \`\${
+                "A B C "
+              }\${
+                _ctx.myValue1
+              }\${
+                " D "
+              }\${
+                _ctx.myValue2
+              }\${
+                " E"
+              }\`)
+            : _ssrLooseEqual(_ctx.model, \`\${
+                "A B C "
+              }\${
+                _ctx.myValue1
+              }\${
+                " D "
+              }\${
+                _ctx.myValue2
+              }\${
+                " E"
+              }\`))) ? " selected" : ""
+        }> A B <!--comment--><!--comment--> C \${
+          _ssrInterpolate(_ctx.myValue1)
+        } D <!--comment--> \${
+          _ssrInterpolate(_ctx.myValue2)
+        } <!--comment-->E <!--comment--></option></select></div>\`)
+      }"
+    `)
+
+    expect(
+      compileWithWrapper(
+        `<select v-model="model"><option v-text="foo"></option></select>`,
+      ).code,
+    ).toMatchInlineSnapshot(`
+      "const { ssrIncludeBooleanAttr: _ssrIncludeBooleanAttr, ssrLooseContain: _ssrLooseContain, ssrLooseEqual: _ssrLooseEqual, ssrRenderAttrs: _ssrRenderAttrs, ssrInterpolate: _ssrInterpolate } = require("vue/server-renderer")
+
+      return function ssrRender(_ctx, _push, _parent, _attrs) {
+        _push(\`<div\${
+          _ssrRenderAttrs(_attrs)
+        }><select><option\${
+          (_ssrIncludeBooleanAttr((Array.isArray(_ctx.model))
+            ? _ssrLooseContain(_ctx.model, _ctx.foo)
+            : _ssrLooseEqual(_ctx.model, _ctx.foo))) ? " selected" : ""
+        }>\${
+          _ssrInterpolate(_ctx.foo)
+        }</option></select></div>\`)
+      }"
+    `)
+
+    expect(
+      compileWithWrapper(
+        `<select v-model="model"><option v-text="'foo'"></option></select>`,
+      ).code,
+    ).toMatchInlineSnapshot(`
+      "const { ssrIncludeBooleanAttr: _ssrIncludeBooleanAttr, ssrLooseContain: _ssrLooseContain, ssrLooseEqual: _ssrLooseEqual, ssrRenderAttrs: _ssrRenderAttrs, ssrInterpolate: _ssrInterpolate } = require("vue/server-renderer")
+
+      return function ssrRender(_ctx, _push, _parent, _attrs) {
+        _push(\`<div\${
+          _ssrRenderAttrs(_attrs)
+        }><select><option\${
+          (_ssrIncludeBooleanAttr((Array.isArray(_ctx.model))
+            ? _ssrLooseContain(_ctx.model, 'foo')
+            : _ssrLooseEqual(_ctx.model, 'foo'))) ? " selected" : ""
+        }>\${
+          _ssrInterpolate('foo')
+        }</option></select></div>\`)
+      }"
+    `)
+
+    expect(
+      compileWithWrapper(`<select v-model="model"><option></option></select>`)
+        .code,
+    ).toMatchInlineSnapshot(`
+      "const { ssrIncludeBooleanAttr: _ssrIncludeBooleanAttr, ssrLooseContain: _ssrLooseContain, ssrLooseEqual: _ssrLooseEqual, ssrRenderAttrs: _ssrRenderAttrs } = require("vue/server-renderer")
+
+      return function ssrRender(_ctx, _push, _parent, _attrs) {
+        _push(\`<div\${
+          _ssrRenderAttrs(_attrs)
+        }><select><option\${
+          (_ssrIncludeBooleanAttr((Array.isArray(_ctx.model))
+            ? _ssrLooseContain(_ctx.model, "")
+            : _ssrLooseEqual(_ctx.model, ""))) ? " selected" : ""
+        }></option></select></div>\`)
+      }"
+    `)
+
+    expect(
+      compileWithWrapper(
+        `<select multiple v-model="model"><option>1</option><option>2</option></select>`,
+      ).code,
+    ).toMatchInlineSnapshot(`
+      "const { ssrIncludeBooleanAttr: _ssrIncludeBooleanAttr, ssrLooseContain: _ssrLooseContain, ssrLooseEqual: _ssrLooseEqual, ssrRenderAttrs: _ssrRenderAttrs } = require("vue/server-renderer")
+
+      return function ssrRender(_ctx, _push, _parent, _attrs) {
+        _push(\`<div\${
+          _ssrRenderAttrs(_attrs)
+        }><select multiple><option\${
+          (_ssrIncludeBooleanAttr((Array.isArray(_ctx.model))
+            ? _ssrLooseContain(_ctx.model, "1")
+            : _ssrLooseEqual(_ctx.model, "1"))) ? " selected" : ""
+        }>1</option><option\${
+          (_ssrIncludeBooleanAttr((Array.isArray(_ctx.model))
+            ? _ssrLooseContain(_ctx.model, "2")
+            : _ssrLooseEqual(_ctx.model, "2"))) ? " selected" : ""
+        }>2</option></select></div>\`)
+      }"
+    `)
   })
 
   test('<input type="radio">', () => {
diff --git a/packages/compiler-ssr/src/transforms/ssrVModel.ts b/packages/compiler-ssr/src/transforms/ssrVModel.ts
index cbe5b2b42a3..30bf96a4224 100644
--- a/packages/compiler-ssr/src/transforms/ssrVModel.ts
+++ b/packages/compiler-ssr/src/transforms/ssrVModel.ts
@@ -6,12 +6,16 @@ import {
   NodeTypes,
   type PlainElementNode,
   type TemplateChildNode,
+  type TemplateLiteral,
+  type TextNode,
   createCallExpression,
   createConditionalExpression,
   createDOMCompilerError,
   createInterpolation,
   createObjectProperty,
   createSimpleExpression,
+  createTemplateLiteral,
+  findDir,
   findProp,
   hasDynamicKeyVBind,
   transformModel,
@@ -54,7 +58,7 @@ export const ssrTransformModel: DirectiveTransform = (dir, node, context) => {
   function processOption(plainNode: PlainElementNode) {
     if (plainNode.tag === 'option') {
       if (plainNode.props.findIndex(p => p.name === 'selected') === -1) {
-        const value = findValueBinding(plainNode)
+        const value = findOptionValue(plainNode)
         plainNode.ssrCodegenNode!.elements.push(
           createConditionalExpression(
             createCallExpression(context.helper(SSR_INCLUDE_BOOLEAN_ATTR), [
@@ -190,6 +194,59 @@ export const ssrTransformModel: DirectiveTransform = (dir, node, context) => {
   }
 }
 
+function findOptionValue(
+  node: PlainElementNode,
+): ExpressionNode | TemplateLiteral {
+  const valueBinding = findProp(node, 'value')
+  if (valueBinding) {
+    return valueBinding.type === NodeTypes.DIRECTIVE
+      ? valueBinding.exp!
+      : createSimpleExpression(valueBinding.value!.content, true)
+  }
+
+  const textDir = findDir(node, 'text')
+  if (textDir) {
+    return textDir.exp!
+  }
+
+  if (
+    node.children.every(
+      x =>
+        x.type === NodeTypes.TEXT ||
+        x.type === NodeTypes.COMMENT ||
+        x.type === NodeTypes.INTERPOLATION,
+    )
+  ) {
+    const relevantNodes = collapseTextBetweenComments(node.children).filter(
+      x => x.type !== NodeTypes.COMMENT,
+    )
+    if (relevantNodes.length) {
+      const expressions = relevantNodes.map((x, i) => {
+        if (x.type === NodeTypes.TEXT) {
+          let content = x.content
+          if (i === 0) {
+            content = content.trimStart()
+          }
+          if (i === relevantNodes.length - 1) {
+            content = content.trimEnd()
+          }
+          return createSimpleExpression(content, true)
+        } else {
+          return x.content
+        }
+      })
+
+      if (expressions.length === 1) {
+        return expressions[0]
+      } else {
+        return createTemplateLiteral(expressions)
+      }
+    }
+  }
+
+  return createSimpleExpression(``, true)
+}
+
 function findValueBinding(node: PlainElementNode): ExpressionNode {
   const valueBinding = findProp(node, 'value')
   return valueBinding
@@ -198,3 +255,41 @@ function findValueBinding(node: PlainElementNode): ExpressionNode {
       : createSimpleExpression(valueBinding.value!.content, true)
     : createSimpleExpression(`null`, false)
 }
+
+function collapseTextBetweenComments<T extends TemplateChildNode>(
+  children: T[],
+) {
+  const result: (T | TextNode)[] = []
+  let prevTextNode: TextNode | undefined
+  for (let i = 0; i < children.length; i++) {
+    const child = children[i]
+    if (child.type === NodeTypes.TEXT) {
+      if (prevTextNode) {
+        const prevContent = prevTextNode.content
+        let thisContent = child.content
+        if (prevContent.endsWith(' ') && thisContent.startsWith(' ')) {
+          thisContent = thisContent.slice(1)
+        }
+        const combined: TextNode = {
+          ...prevTextNode,
+          content: prevContent + thisContent,
+        }
+        prevTextNode = combined
+      } else {
+        prevTextNode = child
+      }
+    } else if (child.type === NodeTypes.COMMENT) {
+      continue
+    } else {
+      if (prevTextNode) {
+        result.push(prevTextNode)
+        prevTextNode = undefined
+      }
+      result.push(child)
+    }
+  }
+  if (prevTextNode) {
+    result.push(prevTextNode)
+  }
+  return result
+}
diff --git a/packages/server-renderer/__tests__/ssrDirectives.spec.ts b/packages/server-renderer/__tests__/ssrDirectives.spec.ts
index dfdebe971f5..70a3a0b0941 100644
--- a/packages/server-renderer/__tests__/ssrDirectives.spec.ts
+++ b/packages/server-renderer/__tests__/ssrDirectives.spec.ts
@@ -122,6 +122,28 @@ describe('ssr: directives', () => {
         `<select><option value="0"></option><option value="1" selected></option></select>`,
       )
 
+      expect(
+        await renderToString(
+          createApp({
+            data: () => ({ model: 'f0o', zero: 0 }),
+            template: `<select v-model="model"><option>f{{ zero }}o</option><option>bar</option></select>`,
+          }),
+        ),
+      ).toBe(
+        `<select><option selected>f0o</option><option>bar</option></select>`,
+      )
+
+      expect(
+        await renderToString(
+          createApp({
+            data: () => ({ model: 'foo', opt1Val: 'foo', opt2Val: 'bar' }),
+            template: `<select v-model="model"><option v-text="opt1Val"></option><option v-text="opt2Val"></option></select>`,
+          }),
+        ),
+      ).toBe(
+        `<select><option selected>foo</option><option>bar</option></select>`,
+      )
+
       expect(
         await renderToString(
           createApp({