diff --git a/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.rule.ts b/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.rule.ts
index cb6371aa08..ab675965e9 100644
--- a/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.rule.ts
+++ b/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.rule.ts
@@ -81,6 +81,7 @@ export const rule = createRule({
         const queryKeyValue = queryKeyNode
         const refs = ASTUtils.getExternalRefs({
           scopeManager,
+          sourceCode,
           node: queryFn.value,
         })
 
@@ -104,7 +105,8 @@ export const rule = createRule({
             return (
               !ref.isTypeReference &&
               !ASTUtils.isAncestorIsCallee(ref.identifier) &&
-              !existingKeys.some((existingKey) => existingKey === text)
+              !existingKeys.some((existingKey) => existingKey === text) &&
+              !existingKeys.includes(text.split('.')[0] ?? '')
             )
           })
           .map(({ ref, text }) => ({
diff --git a/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.test.ts b/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.test.ts
index 7b0a4ed033..bc67850833 100644
--- a/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.test.ts
+++ b/packages/eslint-plugin-query/src/rules/exhaustive-deps/exhaustive-deps.test.ts
@@ -87,7 +87,7 @@ ruleTester.run('exhaustive-deps', rule, {
         type Result = {};
         function MyComponent(props) {
             useQuery({
-              queryKey: ["foo", dep1],
+              queryKey: ["foo", dep],
               queryFn: () => api.get<Result>(dep),
             });
         }
@@ -236,6 +236,17 @@ ruleTester.run('exhaustive-deps', rule, {
         }
       `,
     },
+    {
+      name: 'should not fail if queryKey is having the whole object while queryFn uses some props of it',
+      code: normalizeIndent`
+        const state = { foo: 'foo', bar: 'bar' }
+    
+        useQuery({
+            queryKey: ['state', state],
+            queryFn: () => Promise.resolve({ foo: state.foo, bar: state.bar })
+        })
+      `,
+    },
   ],
   invalid: [
     {
@@ -560,5 +571,22 @@ ruleTester.run('exhaustive-deps', rule, {
         },
       ],
     },
+    {
+      name: 'should fail if queryFn is using multiple object props when only one of them is in the queryKey',
+      code: normalizeIndent`
+        const state = { foo: 'foo', bar: 'bar' }
+    
+        useQuery({
+            queryKey: ['state', state.foo],
+            queryFn: () => Promise.resolve({ foo: state.foo, bar: state.bar })
+        })
+      `,
+      errors: [
+        {
+          messageId: 'missingDeps',
+          data: { deps: 'state.bar' },
+        },
+      ],
+    },
   ],
 })
diff --git a/packages/eslint-plugin-query/src/utils/ast-utils.ts b/packages/eslint-plugin-query/src/utils/ast-utils.ts
index 32161a9570..f7ca8d4471 100644
--- a/packages/eslint-plugin-query/src/utils/ast-utils.ts
+++ b/packages/eslint-plugin-query/src/utils/ast-utils.ts
@@ -142,24 +142,40 @@ export const ASTUtils = {
   },
   getExternalRefs(params: {
     scopeManager: TSESLint.Scope.ScopeManager
+    sourceCode: Readonly<TSESLint.SourceCode>
     node: TSESTree.Node
   }): TSESLint.Scope.Reference[] {
-    const { scopeManager, node } = params
+    const { scopeManager, sourceCode, node } = params
     const scope = scopeManager.acquire(node)
 
     if (scope === null) {
       return []
     }
 
-    const readOnlyRefs = scope.references.filter((x) => x.isRead())
+    const references = scope.references
+      .filter((x) => x.isRead())
+      .map((x) => {
+        const referenceNode = ASTUtils.traverseUpOnly(x.identifier, [
+          AST_NODE_TYPES.MemberExpression,
+          AST_NODE_TYPES.Identifier,
+        ])
+
+        return {
+          variable: x,
+          node: referenceNode,
+          text: sourceCode.getText(referenceNode),
+        }
+      })
+
     const localRefIds = new Set(
-      [...scope.set.values()].map((x) => x.identifiers[0]),
+      [...scope.set.values()].map((x) => sourceCode.getText(x.identifiers[0])),
     )
-    const externalRefs = readOnlyRefs.filter(
-      (x) => x.resolved === null || !localRefIds.has(x.resolved.identifiers[0]),
+
+    const externalRefs = references.filter(
+      (x) => x.variable.resolved === null || !localRefIds.has(x.text),
     )
 
-    return uniqueBy(externalRefs, (x) => x.resolved)
+    return uniqueBy(externalRefs, (x) => x.text).map((x) => x.variable)
   },
   mapKeyNodeToText(
     node: TSESTree.Node,