diff --git a/packages/gatsby-transformer-remark/src/__tests__/on-node-create.js b/packages/gatsby-transformer-remark/src/__tests__/on-node-create.js
index 7a085101225d6..4663c596d9059 100644
--- a/packages/gatsby-transformer-remark/src/__tests__/on-node-create.js
+++ b/packages/gatsby-transformer-remark/src/__tests__/on-node-create.js
@@ -1,6 +1,6 @@
 const Promise = require(`bluebird`)
 const _ = require(`lodash`)
-const onCreateNode = require(`../on-node-create`)
+const { onCreateNode } = require(`../on-node-create`)
 const { graphql } = require(`gatsby/graphql`)
 
 const { createContentDigest } = require(`gatsby-core-utils`)
diff --git a/packages/gatsby-transformer-remark/src/gatsby-node.js b/packages/gatsby-transformer-remark/src/gatsby-node.js
index a9d2f96599009..7330ef19ea39c 100644
--- a/packages/gatsby-transformer-remark/src/gatsby-node.js
+++ b/packages/gatsby-transformer-remark/src/gatsby-node.js
@@ -1,5 +1,10 @@
+const {
+  onCreateNode,
+  unstable_shouldOnCreateNode,
+} = require(`./on-node-create`)
+exports.onCreateNode = onCreateNode
+exports.unstable_shouldOnCreateNode = unstable_shouldOnCreateNode
 exports.createSchemaCustomization = require(`./create-schema-customization`)
-exports.onCreateNode = require(`./on-node-create`)
 exports.setFieldsOnGraphQLNodeType = require(`./extend-node-type`)
 
 if (process.env.GATSBY_EXPERIMENTAL_PLUGIN_OPTION_VALIDATION) {
diff --git a/packages/gatsby-transformer-remark/src/on-node-create.js b/packages/gatsby-transformer-remark/src/on-node-create.js
index f2b2dc841213c..b47dce011f945 100644
--- a/packages/gatsby-transformer-remark/src/on-node-create.js
+++ b/packages/gatsby-transformer-remark/src/on-node-create.js
@@ -1,7 +1,14 @@
 const grayMatter = require(`gray-matter`)
 const _ = require(`lodash`)
 
-module.exports = async function onCreateNode(
+function unstable_shouldOnCreateNode({ node }) {
+  return (
+    node.internal.mediaType === `text/markdown` ||
+    node.internal.mediaType === `text/x-markdown`
+  )
+}
+
+module.exports.onCreateNode = async function onCreateNode(
   {
     node,
     loadNodeContent,
@@ -15,10 +22,7 @@ module.exports = async function onCreateNode(
   const { createNode, createParentChildLink } = actions
 
   // We only care about markdown content.
-  if (
-    node.internal.mediaType !== `text/markdown` &&
-    node.internal.mediaType !== `text/x-markdown`
-  ) {
+  if (!unstable_shouldOnCreateNode({ node })) {
     return {}
   }
 
@@ -76,3 +80,5 @@ module.exports = async function onCreateNode(
     return {} // eslint
   }
 }
+
+module.exports.unstable_shouldOnCreateNode = unstable_shouldOnCreateNode
diff --git a/packages/gatsby-transformer-sharp/src/gatsby-node.js b/packages/gatsby-transformer-sharp/src/gatsby-node.js
index 53ea07b51a701..81be7827f5a02 100644
--- a/packages/gatsby-transformer-sharp/src/gatsby-node.js
+++ b/packages/gatsby-transformer-sharp/src/gatsby-node.js
@@ -1,3 +1,8 @@
-exports.onCreateNode = require(`./on-node-create`)
+const {
+  onCreateNode,
+  unstable_shouldOnCreateNode,
+} = require(`./on-node-create`)
+exports.onCreateNode = onCreateNode
+exports.unstable_shouldOnCreateNode = unstable_shouldOnCreateNode
 exports.createSchemaCustomization = require(`./customize-schema`)
 exports.createResolvers = require(`./create-resolvers`)
diff --git a/packages/gatsby-transformer-sharp/src/on-node-create.js b/packages/gatsby-transformer-sharp/src/on-node-create.js
index 7590d4fd9abc7..30d319187cbf3 100644
--- a/packages/gatsby-transformer-sharp/src/on-node-create.js
+++ b/packages/gatsby-transformer-sharp/src/on-node-create.js
@@ -1,9 +1,17 @@
 const { supportedExtensions } = require(`./supported-extensions`)
 
-module.exports = async function onCreateNode({ node, actions, createNodeId }) {
+function unstable_shouldOnCreateNode({ node }) {
+  return !!supportedExtensions[node.extension]
+}
+
+module.exports.onCreateNode = async function onCreateNode({
+  node,
+  actions,
+  createNodeId,
+}) {
   const { createNode, createParentChildLink } = actions
 
-  if (!supportedExtensions[node.extension]) {
+  if (!unstable_shouldOnCreateNode({ node })) {
     return
   }
 
@@ -22,3 +30,5 @@ module.exports = async function onCreateNode({ node, actions, createNodeId }) {
 
   return
 }
+
+module.exports.unstable_shouldOnCreateNode = unstable_shouldOnCreateNode
diff --git a/packages/gatsby/index.d.ts b/packages/gatsby/index.d.ts
index b8a448defead3..5337a4d438fc0 100644
--- a/packages/gatsby/index.d.ts
+++ b/packages/gatsby/index.d.ts
@@ -306,6 +306,20 @@ export interface GatsbyNode {
     callback?: PluginCallback
   ): void
 
+  /**
+   * Called before scheduling a `onCreateNode` callback for a plugin. If it returns falsy
+   * then Gatsby will not schedule the `onCreateNode` callback for this node for this plugin.
+   * Note: this API does not receive the regular `api` that other callbacks get as first arg.
+   *
+   * @gatsbyVersion 2.24.80
+   * @example
+   * exports.unstable_shouldOnCreateNode = ({node}, pluginOptions) => node.internal.type === 'Image'
+   */
+  unstable_shouldOnCreateNode?<TNode extends object = {}>(
+    args: { node: TNode },
+    options?: PluginOptions
+  ): boolean
+
   /**
    * Called when a new page is created. This extension API is useful
    * for programmatically manipulating pages created by other plugins e.g.
diff --git a/packages/gatsby/scripts/__tests__/api.js b/packages/gatsby/scripts/__tests__/api.js
index a105112d831d5..105f3c9ab04f9 100644
--- a/packages/gatsby/scripts/__tests__/api.js
+++ b/packages/gatsby/scripts/__tests__/api.js
@@ -59,6 +59,9 @@ it("generates the expected api output", done => {
           "resolvableExtensions": Object {},
           "setFieldsOnGraphQLNodeType": Object {},
           "sourceNodes": Object {},
+          "unstable_shouldOnCreateNode": Object {
+            "version": "2.24.80",
+          },
         },
         "ssr": Object {
           "onPreRenderHTML": Object {},
diff --git a/packages/gatsby/src/utils/api-node-docs.ts b/packages/gatsby/src/utils/api-node-docs.ts
index 2d9e35d00a983..8de789cb8db2a 100644
--- a/packages/gatsby/src/utils/api-node-docs.ts
+++ b/packages/gatsby/src/utils/api-node-docs.ts
@@ -133,6 +133,17 @@ export const sourceNodes = true
  */
 export const onCreateNode = true
 
+/**
+ * Called before scheduling a `onCreateNode` callback for a plugin. If it returns falsy
+ * then Gatsby will not schedule the `onCreateNode` callback for this node for this plugin.
+ * Note: this API does not receive the regular `api` that other callbacks get as first arg.
+ *
+ * @gatsbyVersion 2.24.80
+ * @example
+ * exports.unstable_shouldOnCreateNode = ({node}, pluginOptions) => node.internal.type === 'Image'
+ */
+export const unstable_shouldOnCreateNode = true
+
 /**
  * Called when a new page is created. This extension API is useful
  * for programmatically manipulating pages created by other plugins e.g.
diff --git a/packages/gatsby/src/utils/api-runner-node.js b/packages/gatsby/src/utils/api-runner-node.js
index 43ca6a498ef8c..b4ea0c5e95b02 100644
--- a/packages/gatsby/src/utils/api-runner-node.js
+++ b/packages/gatsby/src/utils/api-runner-node.js
@@ -527,9 +527,28 @@ module.exports = async (api, args = {}, { pluginSource, activity } = {}) =>
         return null
       }
 
+      let gatsbyNode = pluginNodeCache.get(plugin.name)
+      if (!gatsbyNode) {
+        gatsbyNode = require(`${plugin.resolve}/gatsby-node`)
+        pluginNodeCache.set(plugin.name, gatsbyNode)
+      }
+
       const pluginName =
         plugin.name === `default-site-plugin` ? `gatsby-node.js` : plugin.name
 
+      // TODO: rethink createNode API to handle this better
+      if (
+        api === `onCreateNode` &&
+        gatsbyNode?.unstable_shouldOnCreateNode && // Don't bail if this api is not exported
+        !gatsbyNode.unstable_shouldOnCreateNode(
+          { node: args.node },
+          plugin.pluginOptions
+        )
+      ) {
+        // Do not try to schedule an async event for this node for this plugin
+        return null
+      }
+
       return new Promise(resolve => {
         resolve(runAPI(plugin, api, { ...args, parentSpan: apiSpan }, activity))
       }).catch(err => {