diff --git a/.changeset/moody-houses-judge.md b/.changeset/moody-houses-judge.md
new file mode 100644
index 000000000000..e95555e19e96
--- /dev/null
+++ b/.changeset/moody-houses-judge.md
@@ -0,0 +1,6 @@
+---
+swc_core: minor
+swc: minor
+---
+
+feat(es): Add Rust plugin host part for analysis API
diff --git a/.vscode/settings.json b/.vscode/settings.json
index 76c8e2a55894..0303457075ae 100644
--- a/.vscode/settings.json
+++ b/.vscode/settings.json
@@ -23,5 +23,8 @@
         "crates/swc_ecma_transforms_proposal/tests/decorator-tests"
     ],
     "eslint.enable": false,
-    "rust-analyzer.check.command": "clippy"
-}
+    "rust-analyzer.check.command": "clippy",
+    "rust-analyzer.cargo.features": [
+        "plugin"
+    ]
+}
\ No newline at end of file
diff --git a/Cargo.lock b/Cargo.lock
index 0e60a950ab6e..b40b93270ab1 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -4593,9 +4593,9 @@ dependencies = [
  "napi-derive",
  "once_cell",
  "par-core",
+ "par-iter",
  "parking_lot",
  "pathdiff",
- "rayon",
  "regex",
  "rustc-hash 2.1.0",
  "serde",
diff --git a/crates/swc/Cargo.toml b/crates/swc/Cargo.toml
index 25adc04d7453..e8c015a66841 100644
--- a/crates/swc/Cargo.toml
+++ b/crates/swc/Cargo.toml
@@ -60,6 +60,7 @@ jsonc-parser = { workspace = true, features = ["serde"] }
 lru          = { workspace = true }
 once_cell    = { workspace = true }
 par-core     = { workspace = true }
+par-iter     = { workspace = true }
 parking_lot  = { workspace = true }
 pathdiff     = { workspace = true }
 regex        = { workspace = true }
@@ -70,6 +71,7 @@ sourcemap    = { workspace = true }
 tracing      = { workspace = true }
 url          = { workspace = true }
 
+
 swc_atoms = { version = "5.0.0", path = "../swc_atoms" }
 swc_cached = { version = "2.0.0", path = "../swc_cached" }
 swc_common = { version = "8.0.1", path = "../swc_common", features = [
@@ -133,11 +135,12 @@ ansi_term = { workspace = true }
 criterion = { workspace = true }
 flate2    = { workspace = true }
 humansize = { workspace = true }
-rayon     = { workspace = true }
 walkdir   = { workspace = true }
 
 
 codspeed-criterion-compat = { workspace = true }
+par-core                  = { workspace = true, features = ["chili"] }
+
 swc_ecma_ast = { version = "8.1.0", path = "../swc_ecma_ast", features = [
   "serde-impl",
 ] }
diff --git a/crates/swc/src/config/mod.rs b/crates/swc/src/config/mod.rs
index 2aedabeef30d..c9c134b3ede5 100644
--- a/crates/swc/src/config/mod.rs
+++ b/crates/swc/src/config/mod.rs
@@ -624,10 +624,10 @@ impl Options {
                     for plugin_config in plugins.iter() {
                         let plugin_name = &plugin_config.0;
 
-                        if !inner_cache.contains(&plugin_name) {
+                        if !inner_cache.contains(plugin_name) {
                             let resolved_path = plugin_resolver.resolve(
-                                &FileName::Real(PathBuf::from(&plugin_name)),
-                                &plugin_name,
+                                &FileName::Real(PathBuf::from(plugin_name)),
+                                plugin_name,
                             )?;
 
                             let path = if let FileName::Real(value) = resolved_path.filename {
@@ -636,7 +636,7 @@ impl Options {
                                 anyhow::bail!("Failed to resolve plugin path: {:?}", resolved_path);
                             };
 
-                            inner_cache.store_bytes_from_path(&path, &plugin_name)?;
+                            inner_cache.store_bytes_from_path(&path, plugin_name)?;
                             tracing::debug!("Initialized WASM plugin {plugin_name}");
                         }
                     }
@@ -1731,7 +1731,7 @@ impl GlobalPassOption {
     }
 }
 
-fn default_env_name() -> String {
+pub(crate) fn default_env_name() -> String {
     if let Ok(v) = env::var("SWC_ENV") {
         return v;
     }
diff --git a/crates/swc/src/lib.rs b/crates/swc/src/lib.rs
index 2b8ec7014b24..922216509935 100644
--- a/crates/swc/src/lib.rs
+++ b/crates/swc/src/lib.rs
@@ -170,6 +170,7 @@ mod builder;
 pub mod config;
 mod dropped_comments_preserver;
 mod plugin;
+mod wasm_analysis;
 pub mod resolver {
     use std::path::PathBuf;
 
diff --git a/crates/swc/src/plugin.rs b/crates/swc/src/plugin.rs
index ce9ef9930489..34fc1386b031 100644
--- a/crates/swc/src/plugin.rs
+++ b/crates/swc/src/plugin.rs
@@ -115,7 +115,7 @@ impl RustPlugins {
                                 .unwrap()
                                 .lock()
                                 .get_fs_cache_root()
-                                .map(|v| std::path::PathBuf::from(v)),
+                                .map(std::path::PathBuf::from),
                         );
                         let mut transform_plugin_executor =
                             swc_plugin_runner::create_plugin_transform_executor(
diff --git a/crates/swc/src/wasm_analysis.rs b/crates/swc/src/wasm_analysis.rs
new file mode 100644
index 000000000000..4c6681e2699e
--- /dev/null
+++ b/crates/swc/src/wasm_analysis.rs
@@ -0,0 +1,136 @@
+#![cfg(feature = "plugin")]
+
+use std::sync::Arc;
+
+use anyhow::{Context, Result};
+use common::{
+    comments::SingleThreadedComments,
+    errors::Handler,
+    plugin::{metadata::TransformPluginMetadataContext, serialized::PluginSerializedBytes},
+    Mark, SourceFile, GLOBALS,
+};
+use par_iter::iter::{IntoParallelRefIterator, ParallelIterator};
+use serde::Deserialize;
+use swc_config::IsModule;
+use swc_ecma_ast::EsVersion;
+use swc_ecma_parser::Syntax;
+use swc_ecma_transforms::resolver;
+
+use crate::{plugin::PluginConfig, Compiler};
+
+impl Compiler {
+    /// Run analysis using Wasm plugins.
+    pub fn run_wasm_analysis(
+        &self,
+        fm: Arc<SourceFile>,
+        handler: &Handler,
+        opts: &WasmAnalysisOptions,
+        comments: SingleThreadedComments,
+    ) -> Result<String> {
+        self.run(|| {
+            GLOBALS.with(|globals| {
+                let unresolved_mark = Mark::new();
+                let top_level_mark = Mark::new();
+
+                let mut program = self.parse_js(
+                    fm.clone(),
+                    handler,
+                    EsVersion::latest(),
+                    opts.parser,
+                    opts.module,
+                    Some(&comments),
+                )?;
+
+                program.mutate(resolver(
+                    unresolved_mark,
+                    top_level_mark,
+                    opts.parser.typescript(),
+                ));
+
+                let serialized = {
+                    let _span = tracing::span!(tracing::Level::INFO, "serialize_program").entered();
+                    let program =
+                        swc_common::plugin::serialized::VersionedSerializable::new(program);
+                    PluginSerializedBytes::try_serialize(&program)?
+                };
+
+                let transform_metadata_context = Arc::new(TransformPluginMetadataContext::new(
+                    Some(fm.name.to_string()),
+                    crate::config::default_env_name(),
+                    None,
+                ));
+
+                let result = opts
+                    .plugins
+                    .par_iter()
+                    .map(|p| {
+                        GLOBALS.set(globals, || {
+                            let plugin_module_bytes = crate::config::PLUGIN_MODULE_CACHE
+                                .inner
+                                .get()
+                                .unwrap()
+                                .lock()
+                                .get(&p.0)
+                                .expect("plugin module should be loaded");
+
+                            let plugin_name = plugin_module_bytes.get_module_name().to_string();
+                            let runtime = swc_plugin_runner::wasix_runtime::build_wasi_runtime(
+                                crate::config::PLUGIN_MODULE_CACHE
+                                    .inner
+                                    .get()
+                                    .unwrap()
+                                    .lock()
+                                    .get_fs_cache_root()
+                                    .map(std::path::PathBuf::from),
+                            );
+                            let mut transform_plugin_executor =
+                                swc_plugin_runner::create_plugin_transform_executor(
+                                    &self.cm,
+                                    &unresolved_mark,
+                                    &transform_metadata_context,
+                                    plugin_module_bytes,
+                                    Some(p.1.clone()),
+                                    runtime,
+                                );
+
+                            let span = tracing::span!(
+                                tracing::Level::INFO,
+                                "execute_plugin_runner",
+                                plugin_module = p.0.as_str()
+                            )
+                            .entered();
+
+                            let (result, output) = swc_transform_common::output::capture(|| {
+                                transform_plugin_executor
+                                    .transform(&serialized, Some(true))
+                                    .with_context(|| {
+                                        format!(
+                                            "failed to invoke `{}` as js analysis plugin at {}",
+                                            &p.0, plugin_name
+                                        )
+                                    })
+                            });
+                            result?;
+                            drop(span);
+
+                            Ok(output)
+                        })
+                    })
+                    .collect::<Result<Vec<_>>>()?;
+
+                serde_json::to_string(&result)
+                    .map_err(|e| anyhow::anyhow!("Failed to serialize output: {e}"))
+            })
+        })
+    }
+}
+
+#[derive(Debug, Deserialize)]
+pub struct WasmAnalysisOptions {
+    #[serde(default)]
+    pub parser: Syntax,
+    #[serde(default)]
+    pub module: IsModule,
+
+    pub plugins: Vec<PluginConfig>,
+}
diff --git a/crates/swc/tests/projects.rs b/crates/swc/tests/projects.rs
index 55a50e7cba7d..a8226fde6443 100644
--- a/crates/swc/tests/projects.rs
+++ b/crates/swc/tests/projects.rs
@@ -5,7 +5,7 @@ use std::{
 };
 
 use anyhow::Context;
-use rayon::prelude::*;
+use par_iter::prelude::*;
 use swc::{
     config::{
         Config, FileMatcher, JsMinifyOptions, JscConfig, ModuleConfig, Options, Paths,
diff --git a/crates/swc_plugin_runner/benches/ecma_invoke.rs b/crates/swc_plugin_runner/benches/ecma_invoke.rs
index 8608b583b04f..d47d00e40cff 100644
--- a/crates/swc_plugin_runner/benches/ecma_invoke.rs
+++ b/crates/swc_plugin_runner/benches/ecma_invoke.rs
@@ -10,6 +10,7 @@ use std::{
 };
 
 use codspeed_criterion_compat::{black_box, criterion_group, criterion_main, Bencher, Criterion};
+use rustc_hash::FxHashMap;
 #[cfg(feature = "__rkyv")]
 use swc_common::plugin::serialized::{PluginSerializedBytes, VersionedSerializable};
 use swc_common::{
diff --git a/crates/swc_plugin_runner/tests/css_rkyv.rs b/crates/swc_plugin_runner/tests/css_rkyv.rs
index c4bbaa9adfd8..e0e2dfbf482d 100644
--- a/crates/swc_plugin_runner/tests/css_rkyv.rs
+++ b/crates/swc_plugin_runner/tests/css_rkyv.rs
@@ -80,7 +80,7 @@ fn invoke(input: PathBuf) {
     tokio::runtime::Runtime::new().unwrap().block_on(async {
         // run single plugin
         testing::run_test(false, |cm, _handler| {
-            let fm = cm.new_source_file(FileName::Anon.into(), "console.log(foo)".into());
+            let fm = cm.load_file(&input).unwrap();
 
             let parsed: Stylesheet =
                 swc_css_parser::parse_file(&fm, None, Default::default(), &mut Vec::new()).unwrap();