diff --git a/packages/compiler-cli/test/compliance/test_cases/r3_view_compiler_control_flow/for_template_track_method_nested_template.js b/packages/compiler-cli/test/compliance/test_cases/r3_view_compiler_control_flow/for_template_track_method_nested_template.js
index 455b9815c71..fb0d610a230 100644
--- a/packages/compiler-cli/test/compliance/test_cases/r3_view_compiler_control_flow/for_template_track_method_nested_template.js
+++ b/packages/compiler-cli/test/compliance/test_cases/r3_view_compiler_control_flow/for_template_track_method_nested_template.js
@@ -1 +1 @@
-$r3$.ɵɵrepeaterCreate(0, MyApp_ng_template_2_For_1_Template, 0, 0, null, null, $r3$.ɵɵcomponentInstance().trackFn);
+$r3$.ɵɵrepeaterCreate(0, MyApp_ng_template_2_For_1_Template, 0, 0, null, null, $r3$.ɵɵcomponentInstance().trackFn, true);
diff --git a/packages/compiler-cli/test/compliance/test_cases/r3_view_compiler_control_flow/for_template_track_method_root_template.js b/packages/compiler-cli/test/compliance/test_cases/r3_view_compiler_control_flow/for_template_track_method_root_template.js
index 115571f10f7..5f9f7e671fa 100644
--- a/packages/compiler-cli/test/compliance/test_cases/r3_view_compiler_control_flow/for_template_track_method_root_template.js
+++ b/packages/compiler-cli/test/compliance/test_cases/r3_view_compiler_control_flow/for_template_track_method_root_template.js
@@ -1 +1 @@
-$r3$.ɵɵrepeaterCreate(2, MyApp_For_3_Template, 0, 0, null, null, ctx.trackFn);
+$r3$.ɵɵrepeaterCreate(2, MyApp_For_3_Template, 0, 0, null, null, ctx.trackFn, true);
diff --git a/packages/compiler/src/template/pipeline/src/phases/track_fn_optimization.ts b/packages/compiler/src/template/pipeline/src/phases/track_fn_optimization.ts
index b46cf16d3f5..97b086f176c 100644
--- a/packages/compiler/src/template/pipeline/src/phases/track_fn_optimization.ts
+++ b/packages/compiler/src/template/pipeline/src/phases/track_fn_optimization.ts
@@ -31,6 +31,10 @@ export function optimizeTrackFns(job: CompilationJob): void {
         // Top-level access of the item uses the built in `repeaterTrackByIdentity`.
         op.trackByFn = o.importExpr(Identifiers.repeaterTrackByIdentity);
       } else if (isTrackByFunctionCall(job.root.xref, op.track)) {
+        // Mark the function as using the component instance to play it safe
+        // since the method might be using `this` internally (see #53628).
+        op.usesComponentInstance = true;
+
         // Top-level method calls in the form of `fn($index, item)` can be passed in directly.
         if (op.track.receiver.receiver.view === unit.xref) {
           // TODO: this may be wrong
diff --git a/packages/core/test/acceptance/control_flow_for_spec.ts b/packages/core/test/acceptance/control_flow_for_spec.ts
index e7be97920c8..fea77449c6f 100644
--- a/packages/core/test/acceptance/control_flow_for_spec.ts
+++ b/packages/core/test/acceptance/control_flow_for_spec.ts
@@ -235,6 +235,26 @@ describe('control flow - for', () => {
          fixture.detectChanges();
          expect([...calls].sort()).toEqual(['a:hello', 'b:hello']);
        });
+
+    it('should invoke method tracking function with the correct context', () => {
+      let context = null as TestComponent | null;
+
+      @Component({
+        template: `@for (item of items; track trackingFn($index, item)) {{{item}}}`,
+      })
+      class TestComponent {
+        items = ['a', 'b'];
+
+        trackingFn(_index: number, item: string) {
+          context = this;
+          return item;
+        }
+      }
+
+      const fixture = TestBed.createComponent(TestComponent);
+      fixture.detectChanges();
+      expect(context).toBe(fixture.componentInstance);
+    });
   });
 
   describe('list diffing and view operations', () => {