diff --git a/packages/babel-plugin-transform-react-jsx/src/transform-classic.js b/packages/babel-plugin-transform-react-jsx/src/transform-classic.js
index eee2ab2533..5ae9411a2c 100644
--- a/packages/babel-plugin-transform-react-jsx/src/transform-classic.js
+++ b/packages/babel-plugin-transform-react-jsx/src/transform-classic.js
@@ -53,16 +53,20 @@ export default declare((api, options) => {
 
       let pragma = PRAGMA_DEFAULT;
       let pragmaFrag = PRAGMA_FRAG_DEFAULT;
+      let pragmaSet = !!options.pragma;
+      let pragmaFragSet = !!options.pragma;
 
       if (file.ast.comments) {
         for (const comment of (file.ast.comments: Array<Object>)) {
           const jsxMatches = JSX_ANNOTATION_REGEX.exec(comment.value);
           if (jsxMatches) {
             pragma = jsxMatches[1];
+            pragmaSet = true;
           }
           const jsxFragMatches = JSX_FRAG_ANNOTATION_REGEX.exec(comment.value);
           if (jsxFragMatches) {
             pragmaFrag = jsxFragMatches[1];
+            pragmaFragSet = true;
           }
         }
       }
@@ -70,8 +74,8 @@ export default declare((api, options) => {
       state.set("jsxIdentifier", createIdentifierParser(pragma));
       state.set("jsxFragIdentifier", createIdentifierParser(pragmaFrag));
       state.set("usedFragment", false);
-      state.set("pragmaSet", pragma !== DEFAULT.pragma);
-      state.set("pragmaFragSet", pragmaFrag !== DEFAULT.pragmaFrag);
+      state.set("pragmaSet", pragmaSet);
+      state.set("pragmaFragSet", pragmaFragSet);
     },
     exit(path, state) {
       if (
diff --git a/packages/babel-plugin-transform-react-jsx/test/fixtures/regression/pragma-frag-set-default/input.js b/packages/babel-plugin-transform-react-jsx/test/fixtures/regression/pragma-frag-set-default/input.js
new file mode 100644
index 0000000000..b0dacd1181
--- /dev/null
+++ b/packages/babel-plugin-transform-react-jsx/test/fixtures/regression/pragma-frag-set-default/input.js
@@ -0,0 +1,3 @@
+/* @jsxFrag React.Fragment */
+/* @jsx h */
+<>Test</>;
diff --git a/packages/babel-plugin-transform-react-jsx/test/fixtures/regression/pragma-frag-set-default/options.json b/packages/babel-plugin-transform-react-jsx/test/fixtures/regression/pragma-frag-set-default/options.json
new file mode 100644
index 0000000000..5e1d82404d
--- /dev/null
+++ b/packages/babel-plugin-transform-react-jsx/test/fixtures/regression/pragma-frag-set-default/options.json
@@ -0,0 +1,5 @@
+{
+  "plugins": [
+    "transform-react-jsx"
+  ]
+}
diff --git a/packages/babel-plugin-transform-react-jsx/test/fixtures/regression/pragma-frag-set-default/output.js b/packages/babel-plugin-transform-react-jsx/test/fixtures/regression/pragma-frag-set-default/output.js
new file mode 100644
index 0000000000..8a621e8a45
--- /dev/null
+++ b/packages/babel-plugin-transform-react-jsx/test/fixtures/regression/pragma-frag-set-default/output.js
@@ -0,0 +1,4 @@
+/* @jsxFrag React.Fragment */
+
+/* @jsx h */
+h(React.Fragment, null, "Test");
diff --git a/packages/babel-preset-react/test/fixtures/regression/11294/input.mjs b/packages/babel-preset-react/test/fixtures/regression/11294/input.mjs
new file mode 100644
index 0000000000..ce3a2d3fff
--- /dev/null
+++ b/packages/babel-preset-react/test/fixtures/regression/11294/input.mjs
@@ -0,0 +1,2 @@
+import React from 'react';
+const D = <></>;
diff --git a/packages/babel-preset-react/test/fixtures/regression/11294/options.json b/packages/babel-preset-react/test/fixtures/regression/11294/options.json
new file mode 100644
index 0000000000..238981a96b
--- /dev/null
+++ b/packages/babel-preset-react/test/fixtures/regression/11294/options.json
@@ -0,0 +1,4 @@
+{
+  "presets": [
+    ["react", { "pragma": "__jsx" }]]
+}
diff --git a/packages/babel-preset-react/test/fixtures/regression/11294/output.mjs b/packages/babel-preset-react/test/fixtures/regression/11294/output.mjs
new file mode 100644
index 0000000000..91e0be8760
--- /dev/null
+++ b/packages/babel-preset-react/test/fixtures/regression/11294/output.mjs
@@ -0,0 +1,3 @@
+import React from 'react';
+
+const D = __jsx(React.Fragment, null);