diff --git a/src/loaders/markdown/index.ts b/src/loaders/markdown/index.ts
index a44ae35370..63aafc2e19 100644
--- a/src/loaders/markdown/index.ts
+++ b/src/loaders/markdown/index.ts
@@ -1,8 +1,8 @@
 import { isTabRouteFile } from '@/features/tabs';
 import type { IThemeLoadResult } from '@/features/theme/loader';
-import { getCache } from '@/utils';
+import { getCache, getContentHash } from '@/utils';
 import fs from 'fs';
-import { lodash, Mustache, winPath } from 'umi/plugin-utils';
+import { Mustache, lodash, winPath } from 'umi/plugin-utils';
 import transform, {
   type IMdTransformerOptions,
   type IMdTransformerResult,
@@ -135,9 +135,11 @@ export default DumiMarkdownContent;`;
   }
 }
 
-function getDepsCacheKey(deps: typeof depsMapping['0'] = []) {
+function getDepsCacheKey(deps: (typeof depsMapping)['0'] = []) {
   return JSON.stringify(
-    deps.map((file) => `${file}:${fs.statSync(file).mtimeMs}`),
+    deps.map(
+      (file) => `${file}:${getContentHash(fs.readFileSync(file, 'utf-8'))}`,
+    ),
   );
 }
 
@@ -149,13 +151,13 @@ export default function mdLoader(this: any, content: string) {
   const cb = this.async();
 
   const cache = getCache('md-loader');
-  // format: {path:mtime:loaderOpts}
+  // format: {path:contenthash:loaderOpts}
   const baseCacheKey = [
     this.resourcePath,
-    fs.statSync(this.resourcePath).mtimeMs,
+    getContentHash(content),
     JSON.stringify(lodash.omit(opts, ['mode', 'builtins', 'onResolveDemos'])),
   ].join(':');
-  // format: {baseCacheKey:{deps:mtime}[]}
+  // format: {baseCacheKey:{deps:contenthash}[]}
   const cacheKey = [
     baseCacheKey,
     getDepsCacheKey(depsMapping[this.resourcePath]),
diff --git a/src/utils.ts b/src/utils.ts
index b0e422c239..14b6d9c417 100644
--- a/src/utils.ts
+++ b/src/utils.ts
@@ -1,3 +1,4 @@
+import { createHash } from 'crypto';
 import Cache from 'file-system-cache';
 import fs from 'fs';
 import yaml from 'js-yaml';
@@ -82,7 +83,7 @@ export function parseCodeFrontmatter(raw: string) {
  */
 const caches: Record<string, ReturnType<typeof Cache>> = {};
 const CACHE_PATH = 'node_modules/.cache/dumi';
-export function getCache(ns: string): typeof caches['0'] {
+export function getCache(ns: string): (typeof caches)['0'] {
   // return fake cache if cache disabled
   if (process.env.DUMI_CACHE === 'none') {
     return { set() {}, get() {}, setSync() {}, getSync() {} } as any;
@@ -156,3 +157,10 @@ export function getProjectRoot(cwd: string) {
 
   return winPath(cwd);
 }
+
+/**
+ * generate hash for string
+ */
+export function getContentHash(content: string, length = 8) {
+  return createHash('md5').update(content).digest('hex').slice(0, length);
+}