diff --git a/doc/user_guide/References.ipynb b/doc/user_guide/References.ipynb
index e45c842c..ad5bee9a 100644
--- a/doc/user_guide/References.ipynb
+++ b/doc/user_guide/References.ipynb
@@ -265,6 +265,92 @@
     ":::"
    ]
   },
+  {
+   "cell_type": "markdown",
+   "id": "ae3232e6-91dd-4a09-8301-b5a79ae42f8f",
+   "metadata": {},
+   "source": [
+    "## Assigning refs literally with `LiteralRef`\n",
+    "\n",
+    "Sometimes you don’t want Param to resolve a ref-like value on assignment—you want to store the ref object itself.\n",
+    "\n",
+    "Use `LiteralRef` to assign a ref as-is (verbatim), so you can forward it, serialize it, or resolve it later under different conditions."
+   ]
+  },
+  {
+   "cell_type": "markdown",
+   "id": "15985908-d821-41a6-a4e0-41a8a49d9aae",
+   "metadata": {},
+   "source": [
+    "\n",
+    "By default, assigning a ref-like value resolves and links it:"
+   ]
+  },
+  {
+   "cell_type": "code",
+   "execution_count": null,
+   "id": "b2c80606-f60f-4534-b2da-608efd2c9ab8",
+   "metadata": {},
+   "outputs": [],
+   "source": [
+    "class Example(param.Parameterized):\n",
+    "    value = param.Parameter(allow_refs=True)\n",
+    "\n",
+    "src = Example(value=\"A\")\n",
+    "dst = Example()\n",
+    "\n",
+    "dst.value = src.param.value\n",
+    "assert dst.value == \"A\"\n",
+    "src.value = \"B\"\n",
+    "assert dst.value == \"B\"  # still linked"
+   ]
+  },
+  {
+   "cell_type": "markdown",
+   "id": "3942b3d3-3d0f-4f99-bb9e-b79ee991b635",
+   "metadata": {},
+   "source": [
+    "i.e. the `dst.value` tracks the `src.value`. Wrapping the reference in the `LiteralRef` skips the resolution:"
+   ]
+  },
+  {
+   "cell_type": "code",
+   "execution_count": null,
+   "id": "cf3fae7b-7dc6-47b5-9ed9-78cd5799ff52",
+   "metadata": {},
+   "outputs": [],
+   "source": [
+    "dst.value = param.parameterized.LiteralRef(src.param.value)\n",
+    "\n",
+    "dst.value"
+   ]
+  },
+  {
+   "cell_type": "markdown",
+   "id": "e7174aad-4751-436e-8b68-36557597fccc",
+   "metadata": {},
+   "source": [
+    "i.e. Param unwraps the `LiteralRef` object but does not resolve the `Parameter` reference. `dst` now holds the actual `Parameter` object."
+   ]
+  },
+  {
+   "cell_type": "markdown",
+   "id": "481223e8-750e-41b4-8376-63381b2012c6",
+   "metadata": {},
+   "source": [
+    "#### Key points\n",
+    "\n",
+    "- The wrapper is transient: it's unwrapped at assignment time; the stored value is the inner ref object.\n",
+    "- No subscription, no evaluation, no resolution occurs during assignment.\n",
+    "\n",
+    "#### When to use LiteralRef\n",
+    "\n",
+    "- You're wiring a graph of components and need to pass a ref downstream without linking it yet.\n",
+    "- You're building a config/serialization format that stores refs (not their current values).\n",
+    "- You have reactive/async producers you don't want to start/subscribe/consume during assignment.\n",
+    "- You want to preserve intent (“this is a ref”) instead of collapsing it to a concrete value."
+   ]
+  },
   {
    "cell_type": "markdown",
    "id": "6ffd34f8-211c-4945-95b8-e87ec712e028",
diff --git a/param/parameterized.py b/param/parameterized.py
index dec6498a..0a3f6241 100644
--- a/param/parameterized.py
+++ b/param/parameterized.py
@@ -162,6 +162,36 @@ def get_logger(name: Optional[str] = None)->"logging.Logger":
 # Hook to apply to depends and bind arguments to turn them into valid parameters
 _reference_transforms = []
 
+class LiteralRef:
+    """
+    Wrapper type used to assign ref-like objects to Parameters *without*
+    triggering automatic resolution.
+
+    Normally, when a ref-like value (e.g. a Parameter, reactive expression,
+    async generator, etc.) is assigned to a Parameter attribute, Param
+    resolves it to its underlying value. Wrapping the object in ``LiteralRef``
+    signals that the value should instead be stored as-is.
+
+    Example
+    -------
+    >>> obj.some_param = param.LiteralRef(other.param.value)
+    >>> assert obj.some_param is other.param.value
+
+    Notes
+    -----
+    - ``LiteralRef`` is only meaningful at assignment time; the wrapper is
+      unwrapped and not stored.
+    - The stored value is the inner object itself, not the ``LiteralRef`` instance.
+    - This allows safe serialization, forwarding, or deferred resolution of
+      ref-like values.
+    """
+
+    __slots__ = ["value"]
+
+    def __init__(self, value): self.value = value
+    def __repr__(self): return f"LiteralRef({self.value!r})"
+
+
 def register_reference_transform(transform):
     """
     Append a transform to extract potential parameter dependencies
@@ -170,7 +200,6 @@ def register_reference_transform(transform):
     Parameters
     ----------
     transform: Callable[Any, Any]
-
     """
     return _reference_transforms.append(transform)
 
@@ -182,6 +211,8 @@ def transform_reference(arg):
     that are not simple Parameters or functions with dependency
     definitions.
     """
+    if isinstance(arg, LiteralRef):
+        return arg.value
     for transform in _reference_transforms:
         if isinstance(arg, Parameter) or hasattr(arg, '_dinfo'):
             break
@@ -207,7 +238,9 @@ def eval_function_with_deps(function):
 
 def resolve_value(value, recursive=True):
     """Resolve the current value of a dynamic reference."""
-    if not recursive:
+    if isinstance(value, LiteralRef):
+        return value.value
+    elif not recursive:
         pass
     elif isinstance(value, (list, tuple)):
         return type(value)(resolve_value(v) for v in value)
@@ -231,7 +264,9 @@ def resolve_value(value, recursive=True):
 
 def resolve_ref(reference, recursive=False):
     """Resolve all parameters a dynamic reference depends on."""
-    if recursive:
+    if isinstance(reference, LiteralRef):
+        return []
+    elif recursive:
         if isinstance(reference, (list, tuple, set)):
             return [r for v in reference for r in resolve_ref(v, recursive)]
         elif isinstance(reference, dict):
@@ -2442,10 +2477,12 @@ def _sync_refs(self_, *events):
                 self_.update(updates)
 
     def _resolve_ref(self_, pobj, value):
+        if isinstance(value, LiteralRef):
+            return None, None, value.value, False
         is_gen = inspect.isgeneratorfunction(value)
         is_async = iscoroutinefunction(value) or is_gen
         deps = resolve_ref(value, recursive=pobj.nested_refs)
-        if not (deps or is_async or is_gen):
+        if not (deps or is_async or is_gen or pobj.nested_refs):
             return None, None, value, False
         ref = value
         try:
diff --git a/tests/testrefs.py b/tests/testrefs.py
index e3786df9..86577e2b 100644
--- a/tests/testrefs.py
+++ b/tests/testrefs.py
@@ -5,7 +5,7 @@
 import param
 import pytest
 
-from param.parameterized import Skip, resolve_ref
+from param.parameterized import LiteralRef, Skip, resolve_ref
 from param.reactive import bind, rx
 
 
@@ -39,8 +39,12 @@ class Parameters(param.Parameterized):
 
     string_list = param.List(default=[], item_type=str, allow_refs=True, nested_refs=True)
 
+    list = param.List(default=[], allow_refs=True, nested_refs=True)
+
     no_refs = param.Parameter(allow_refs=False)
 
+    allows_ref = param.Parameter(allow_refs=True)
+
     @param.depends('string')
     def formatted_string(self):
         if self.string.endswith('?'):
@@ -363,3 +367,137 @@ def test_resolve_ref_recursive_slice():
     refs = resolve_ref(nested, recursive=True)
     assert len(refs) == 1
     assert refs[0] is p.param.string
+
+def test_literal_ref_parameter_ref_not_resolved_errors():
+    p = Parameters(string='base')
+
+    with pytest.raises(ValueError):
+        Parameters(string=LiteralRef(p.param.string))
+
+def test_literal_ref_plain_value_unchanged():
+    p = Parameters(allows_ref=LiteralRef('literal'))
+    assert p.allows_ref == 'literal'
+
+def test_literal_ref_is_transient_unwrapped():
+    p0 = Parameters()
+    r = p0.param.string
+    p = Parameters(allows_ref=LiteralRef(r))
+    assert p.allows_ref is r
+
+def test_literal_ref_nested_list_parameter_ref_preserved():
+    p_src = Parameters(string='alpha')
+    p = Parameters(list=LiteralRef([p_src.param.string, 'other']))
+    # With literal_ref, nested refs are preserved (not resolved)
+    assert isinstance(p.list, list)
+    assert p.list[0] is p_src.param.string
+    assert p.list[1] == 'other'
+
+    # Changing the source has no effect — we stored the ref object, not a live link
+    p_src.string = 'beta'
+    assert p.list[0] is p_src.param.string
+
+def test_literal_ref_nested_list_mixed_refs_preserved():
+    s = rx('x')
+    expr = s + '!'
+    p_src = Parameters(string='y')
+    p = Parameters(list=LiteralRef([expr, p_src.param.string, 'z']))
+
+    assert p.list[0] is expr
+    assert p.list[1] is p_src.param.string
+    assert p.list[2] == 'z'
+
+    s.rx.value = 'xx'
+    p_src.string = 'yy'
+    # Nothing auto-updates because we stored verbatim objects
+    assert p.list[0] is expr
+    assert p.list[1] is p_src.param.string
+
+def test_literal_ref_nested_dict_value_parameter_ref_preserved():
+    p_src = Parameters(string='keyed')
+    p = Parameters(dictionary=LiteralRef({'k': p_src.param.string, 'n': 1}))
+    # Values kept as-is
+    assert p.dictionary['k'] is p_src.param.string
+    assert p.dictionary['n'] == 1
+    # Changing source does not propagate
+    p_src.string = 'changed'
+    assert p.dictionary['k'] is p_src.param.string
+
+def test_literal_ref_nested_dict_deep_structure_preserved():
+    p_src = Parameters(string='deep')
+    expr = (rx('a') + rx('b'))
+    nested = {
+        'level1': {
+            'list': [p_src.param.string, expr, {'leaf': p_src.param.string}]
+        }
+    }
+    p = Parameters(dictionary=LiteralRef(nested))
+
+    got = p.dictionary
+    assert got['level1']['list'][0] is p_src.param.string
+    assert got['level1']['list'][1] is expr
+    assert got['level1']['list'][2]['leaf'] is p_src.param.string
+
+def test_literal_ref_nested_refs_do_not_resolve_even_when_param_has_nested_refs_true():
+    p_src = Parameters(string='s')
+    obj = Parameters(
+        dictionary=LiteralRef({'inner': [p_src.param.string]}),
+        list=LiteralRef([p_src.param.string, 'x'])
+    )
+    assert obj.dictionary['inner'][0] is p_src.param.string
+    assert obj.list[0] is p_src.param.string
+
+def test_literal_ref_inner_nested_refs_do_not_resolve_even_when_param_has_nested_refs_true():
+    p_src = Parameters(string='s')
+    obj = Parameters(
+        dictionary={'inner': [LiteralRef(p_src.param.string)]},
+        list=[LiteralRef(p_src.param.string), 'x']
+    )
+    assert obj.dictionary['inner'][0] is p_src.param.string
+    assert obj.list[0] is p_src.param.string
+
+def test_literal_ref_survives_param_update_context_and_reassignments():
+    p_src = Parameters(string='A')
+    p = Parameters(allows_ref=LiteralRef(p_src.param.string))
+    assert p.allows_ref is p_src.param.string
+
+    with p.param.update(allows_ref=LiteralRef(p_src.param.string)):
+        assert p.allows_ref is p_src.param.string
+        p_src.string = 'B'
+        assert p.allows_ref is p_src.param.string
+
+    p.allows_ref = p_src.param.string
+    assert p.allows_ref == 'B'
+    p_src.string = 'C'
+    assert p.allows_ref == 'C'
+
+def test_literal_ref_stores_callables_or_generators_without_consuming():
+    started = {'gen': False, 'async': False}
+
+    def gen():
+        started['gen'] = True
+        yield 'x'
+
+    async def agen():
+        started['async'] = True
+        if False:
+            yield None
+
+    p = Parameters()
+    p.allows_ref = LiteralRef(gen)
+    assert p.allows_ref is gen
+    assert started['gen'] is False
+
+    p.allows_ref = LiteralRef(agen)
+    assert p.allows_ref is agen
+    assert started['async'] is False
+
+def test_resolve_ref_hides_inner_when_given_literal_ref_directly():
+    p_src = Parameters()
+    refs = resolve_ref(LiteralRef(p_src.param.string))
+    assert len(refs) == 0
+
+def test_resolve_ref_recursive_on_container_from_literal_ref():
+    p_src = Parameters()
+    nested = LiteralRef([{'k': (p_src.param.string,)}])
+    refs = resolve_ref(nested, recursive=True)
+    assert len(refs) == 0