diff --git a/doc/api/cli.md b/doc/api/cli.md
index 7230231decd..2a932531d4a 100644
--- a/doc/api/cli.md
+++ b/doc/api/cli.md
@@ -1666,25 +1666,6 @@ is highly discouraged.
 Stripping types inside `node_modules` is intended only
 for local development.
 
-### `--experimental-test-coverage`
-
-<!-- YAML
-added:
-  - v19.7.0
-  - v18.15.0
-changes:
-  - version:
-    - v20.1.0
-    - v18.17.0
-    pr-url: https://github.com/nodejs/node/pull/47686
-    description: This option can be used with `--test`.
--->
-
-When used in conjunction with the `node:test` module, a code coverage report is
-generated as part of the test runner output. If no tests are run, a coverage
-report is not generated. See the documentation on
-[collecting code coverage from tests][] for more details.
-
 ### `--experimental-test-module-mocks`
 
 <!-- YAML
@@ -3176,6 +3157,31 @@ concurrently. If `--test-isolation` is set to `'none'`, this flag is ignored and
 concurrency is one. Otherwise, concurrency defaults to
 `os.availableParallelism() - 1`.
 
+### `--test-coverage`
+
+<!-- YAML
+added:
+  - v19.7.0
+  - v18.15.0
+changes:
+  - version: REPLACEME
+    pr-url: https://github.com/nodejs/node/pull/63507
+    description: Test coverage is now stable, the flag was renamed from
+                 `--experimental-test-coverage` to `--test-coverage`. The legacy
+                 name is still accepted as an alias.
+  - version:
+    - v20.1.0
+    - v18.17.0
+    pr-url: https://github.com/nodejs/node/pull/47686
+    description: This option can be used with `--test`.
+-->
+
+Enable code coverage collection in the test runner. If no tests are run, a
+coverage report is not generated. See the documentation on
+[collecting code coverage from tests][] for more details.
+
+The legacy `--experimental-test-coverage` flag is supported as an alias.
+
 ### `--test-coverage-branches=threshold`
 
 <!-- YAML
diff --git a/doc/api/test.md b/doc/api/test.md
index 48d5b0c004c..0e825923f47 100644
--- a/doc/api/test.md
+++ b/doc/api/test.md
@@ -883,7 +883,7 @@ inherit Node.js options from the parent process, including those specified in
 test runner functionality:
 
 * `--test` - Prevented to avoid recursive test execution
-* `--experimental-test-coverage` - Managed by the test runner
+* `--test-coverage` - Managed by the test runner
 * `--experimental-test-tag-filter` - Filter expressions are validated by the parent
   process and re-emitted to child processes
 * `--watch` - Watch mode is handled at the parent level
@@ -900,9 +900,9 @@ and configuration files are inherited by the child processes.
 
 ## Collecting code coverage
 
-> Stability: 1 - Experimental
+> Stability: 2 - Stable
 
-When Node.js is started with the [`--experimental-test-coverage`][]
+When Node.js is started with the [`--test-coverage`][]
 command-line flag, code coverage is collected and statistics are reported once
 all tests have completed. If the [`NODE_V8_COVERAGE`][] environment variable is
 used to specify a code coverage directory, the generated V8 coverage files are
@@ -949,7 +949,7 @@ There is also an lcov reporter that will generate an lcov file which can be
 used as an in depth coverage report.
 
 ```bash
-node --test --experimental-test-coverage --test-reporter=lcov --test-reporter-destination=lcov.info
+node --test --test-coverage --test-reporter=lcov --test-reporter-destination=lcov.info
 ```
 
 * No test results are reported by this reporter.
@@ -1466,7 +1466,7 @@ The following built-reporters are supported:
 
 * `lcov`
   The `lcov` reporter outputs test coverage when used with the
-  [`--experimental-test-coverage`][] flag.
+  [`--test-coverage`][] flag.
 
 The exact output of these reporters is subject to change between versions of
 Node.js, and should not be relied on programmatically. If programmatic access
@@ -5182,7 +5182,6 @@ test.describe('my suite', (suite) => {
 [`'test:summary'`]: #event-testsummary
 [`'test:watch:drained'`]: #event-testwatchdrained
 [`'test:watch:restarted'`]: #event-testwatchrestarted
-[`--experimental-test-coverage`]: cli.md#--experimental-test-coverage
 [`--experimental-test-module-mocks`]: cli.md#--experimental-test-module-mocks
 [`--experimental-test-tag-filter`]: cli.md#--experimental-test-tag-filtertag
 [`--import`]: cli.md#--importmodule
@@ -5190,6 +5189,7 @@ test.describe('my suite', (suite) => {
 [`--test-concurrency`]: cli.md#--test-concurrency
 [`--test-coverage-exclude`]: cli.md#--test-coverage-exclude
 [`--test-coverage-include`]: cli.md#--test-coverage-include
+[`--test-coverage`]: cli.md#--test-coverage
 [`--test-name-pattern`]: cli.md#--test-name-pattern
 [`--test-only`]: cli.md#--test-only
 [`--test-reporter-destination`]: cli.md#--test-reporter-destination
diff --git a/doc/node-config-schema.json b/doc/node-config-schema.json
index 6f809a0a355..53d7cf2ed0e 100644
--- a/doc/node-config-schema.json
+++ b/doc/node-config-schema.json
@@ -617,6 +617,10 @@
               "type": "boolean",
               "description": "Type-stripping for TypeScript files."
             },
+            "test-coverage": {
+              "type": "boolean",
+              "description": "enable code coverage in the test runner"
+            },
             "test-coverage-branches": {
               "type": "number",
               "description": "the branch coverage minimum threshold"
@@ -998,6 +1002,10 @@
           "additionalProperties": false,
           "required": [],
           "properties": {
+            "test-coverage": {
+              "type": "boolean",
+              "description": "enable code coverage in the test runner"
+            },
             "experimental-test-coverage": {
               "type": "boolean",
               "description": "enable code coverage in the test runner"
diff --git a/doc/node.1 b/doc/node.1
index 821fe8d8e0f..c537410ee54 100644
--- a/doc/node.1
+++ b/doc/node.1
@@ -921,12 +921,6 @@ is highly discouraged.
 Stripping types inside \fBnode_modules\fR is intended only
 for local development.
 .
-.It Fl -experimental-test-coverage
-When used in conjunction with the \fBnode:test\fR module, a code coverage report is
-generated as part of the test runner output. If no tests are run, a coverage
-report is not generated. See the documentation on
-collecting code coverage from tests for more details.
-.
 .It Fl -experimental-test-module-mocks
 Enable module mocking in the test runner.
 This feature requires \fB--allow-worker\fR if used with the Permission Model.
@@ -1596,6 +1590,12 @@ concurrently. If \fB--test-isolation\fR is set to \fB'none'\fR, this flag is ign
 concurrency is one. Otherwise, concurrency defaults to
 \fBos.availableParallelism() - 1\fR.
 .
+.It Fl -test-coverage
+Enable code coverage collection in the test runner. If no tests are run, a
+coverage report is not generated. See the documentation on collecting code
+coverage from tests for more details.
+The legacy \fB--experimental-test-coverage\fR flag is supported as an alias.
+.
 .It Fl -test-coverage-branches Ns = Ns Ar threshold
 Require a minimum percent of covered branches. If code coverage does not reach
 the threshold specified, the process will exit with code \fB1\fR.
diff --git a/lib/internal/process/pre_execution.js b/lib/internal/process/pre_execution.js
index 0f5aaf857ae..841f4cdb720 100644
--- a/lib/internal/process/pre_execution.js
+++ b/lib/internal/process/pre_execution.js
@@ -523,10 +523,9 @@ function setupCodeCoverage() {
   // Resolve the coverage directory to an absolute path, and
   // overwrite process.env so that the original path gets passed
   // to child processes even when they switch cwd. Don't do anything if the
-  // --experimental-test-coverage flag is present, as the test runner will
-  // handle coverage.
+  // --test-coverage flag is present, as the test runner will handle coverage.
   if (process.env.NODE_V8_COVERAGE &&
-      !getOptionValue('--experimental-test-coverage')) {
+      !getOptionValue('--test-coverage')) {
     process.env.NODE_V8_COVERAGE =
       setupCoverageHooks(process.env.NODE_V8_COVERAGE);
   }
diff --git a/lib/internal/test_runner/runner.js b/lib/internal/test_runner/runner.js
index b3d1b30b12e..ce29e5bae8d 100644
--- a/lib/internal/test_runner/runner.js
+++ b/lib/internal/test_runner/runner.js
@@ -108,6 +108,7 @@ let debug = require('internal/util/debuglog').debuglog('test_runner', (fn) => {
 const kIsolatedProcessName = Symbol('kIsolatedProcessName');
 const kFilterArgs = [
   '--test',
+  '--test-coverage',
   '--experimental-test-coverage',
   '--test-randomize',
   '--watch',
diff --git a/lib/internal/test_runner/utils.js b/lib/internal/test_runner/utils.js
index e8043a88177..49c991c2e49 100644
--- a/lib/internal/test_runner/utils.js
+++ b/lib/internal/test_runner/utils.js
@@ -246,7 +246,7 @@ function parseCommandLine() {
   }
 
   const isTestRunner = getOptionValue('--test');
-  const coverage = getOptionValue('--experimental-test-coverage');
+  const coverage = getOptionValue('--test-coverage');
   const coverageIncludeAll = getOptionValue('--test-coverage-include-all');
   const forceExit = getOptionValue('--test-force-exit');
   const sourceMaps = getOptionValue('--enable-source-maps');
diff --git a/src/node_options.cc b/src/node_options.cc
index d066f4af772..05822dff2ea 100644
--- a/src/node_options.cc
+++ b/src/node_options.cc
@@ -1219,12 +1219,14 @@ EnvironmentOptionsParser::EnvironmentOptionsParser() {
             kDisallowedInEnvvar,
             false,
             OptionNamespaces::kTestRunnerNamespace);
-  AddOption("--experimental-test-coverage",
+  AddOption("--test-coverage",
             "enable code coverage in the test runner",
             BOOL_FIELD(test_runner_coverage),
             kDisallowedInEnvvar,
             false,
             OptionNamespaces::kTestRunnerNamespace);
+  // TODO(cjihrig): Remove this alias in a semver major.
+  AddAlias("--experimental-test-coverage", "--test-coverage");
   AddOption("--test-coverage-branches",
             "the branch coverage minimum threshold",
             &EnvironmentOptions::test_coverage_branches,
diff --git a/test/fixtures/rc/namespace-with-disallowed-envvar.json b/test/fixtures/rc/namespace-with-disallowed-envvar.json
index f545f0ff627..445b059639e 100644
--- a/test/fixtures/rc/namespace-with-disallowed-envvar.json
+++ b/test/fixtures/rc/namespace-with-disallowed-envvar.json
@@ -1,6 +1,6 @@
 {
     "test": {
        "test-concurrency": 1,
-       "experimental-test-coverage": true
+       "test-coverage": true
     }
 }
diff --git a/test/fixtures/test-runner/options-propagation/node.config.json b/test/fixtures/test-runner/options-propagation/node.config.json
index 7bb3d5c80fe..6ed9dc5600c 100644
--- a/test/fixtures/test-runner/options-propagation/node.config.json
+++ b/test/fixtures/test-runner/options-propagation/node.config.json
@@ -1,5 +1,5 @@
 {
     "test": {
-        "experimental-test-coverage": true
+        "test-coverage": true
     }
 }
diff --git a/test/parallel/test-runner-cli.js b/test/parallel/test-runner-cli.js
index 28ad56a0a93..63052ea7de4 100644
--- a/test/parallel/test-runner-cli.js
+++ b/test/parallel/test-runner-cli.js
@@ -489,7 +489,7 @@ for (const isolation of ['none', 'process']) {
 {
   if (process.features.inspector) {
     // https://github.com/nodejs/node/issues/58828
-    // Should not print report twice when --experimental-test-coverage is set via config file
+    // Should not print report twice when --test-coverage is set via config file
     const fixturePath = join(testFixtures, 'options-propagation');
     const args = [
       '--test-reporter=tap',
diff --git a/test/parallel/test-runner-coverage-default-exclusion.mjs b/test/parallel/test-runner-coverage-default-exclusion.mjs
index acc8c3bbfe9..48398327c4a 100644
--- a/test/parallel/test-runner-coverage-default-exclusion.mjs
+++ b/test/parallel/test-runner-coverage-default-exclusion.mjs
@@ -52,7 +52,7 @@ describe('test runner coverage default exclusion', skipIfNoInspector, () => {
 
     const args = [
       '--test',
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       '--test-reporter=tap',
       '--no-experimental-strip-types',
@@ -70,7 +70,7 @@ describe('test runner coverage default exclusion', skipIfNoInspector, () => {
     const args = [
       '--no-experimental-strip-types',
       '--test',
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-reporter=tap',
     ];
     spawnSyncAndAssert(process.execPath, args, {
@@ -85,7 +85,7 @@ describe('test runner coverage default exclusion', skipIfNoInspector, () => {
   it('should exclude ts test files', async () => {
     const args = [
       '--test',
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--disable-warning=ExperimentalWarning',
       '--test-reporter=tap',
     ];
diff --git a/test/parallel/test-runner-coverage-source-map.js b/test/parallel/test-runner-coverage-source-map.js
index 64a452aba00..b437569af72 100644
--- a/test/parallel/test-runner-coverage-source-map.js
+++ b/test/parallel/test-runner-coverage-source-map.js
@@ -21,7 +21,7 @@ function generateReport(report) {
 const flags = [
   '--enable-source-maps',
   '--test',
-  '--experimental-test-coverage',
+  '--test-coverage',
   '--test-coverage-exclude=!test/**',
   '--test-reporter',
   'tap',
diff --git a/test/parallel/test-runner-coverage-thresholds.js b/test/parallel/test-runner-coverage-thresholds.js
index 20738c54386..cb4d42ffbab 100644
--- a/test/parallel/test-runner-coverage-thresholds.js
+++ b/test/parallel/test-runner-coverage-thresholds.js
@@ -61,7 +61,7 @@ for (const coverage of coverages) {
   test(`test passing ${coverage.flag}`, () => {
     const result = spawnSync(process.execPath, [
       '--test',
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       `${coverage.flag}=25`,
       '--test-reporter', 'tap',
@@ -78,7 +78,7 @@ for (const coverage of coverages) {
   test(`test passing ${coverage.flag} with custom reporter`, () => {
     const result = spawnSync(process.execPath, [
       '--test',
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       `${coverage.flag}=25`,
       '--test-reporter', reporter,
@@ -94,7 +94,7 @@ for (const coverage of coverages) {
   test(`test failing ${coverage.flag} with red color`, () => {
     const result = spawnSync(process.execPath, [
       '--test',
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       `${coverage.flag}=99`,
       '--test-reporter', 'spec',
@@ -114,7 +114,7 @@ for (const coverage of coverages) {
   test(`test failing ${coverage.flag}`, () => {
     const result = spawnSync(process.execPath, [
       '--test',
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       `${coverage.flag}=99`,
       '--test-reporter', 'tap',
@@ -131,7 +131,7 @@ for (const coverage of coverages) {
   test(`test failing ${coverage.flag} with custom reporter`, () => {
     const result = spawnSync(process.execPath, [
       '--test',
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       `${coverage.flag}=99`,
       '--test-reporter', reporter,
@@ -147,7 +147,7 @@ for (const coverage of coverages) {
   test(`test out-of-range ${coverage.flag} (too high)`, () => {
     const result = spawnSync(process.execPath, [
       '--test',
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       `${coverage.flag}=101`,
       fixture,
@@ -161,7 +161,7 @@ for (const coverage of coverages) {
   test(`test out-of-range ${coverage.flag} (too low)`, () => {
     const result = spawnSync(process.execPath, [
       '--test',
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       `${coverage.flag}=-1`,
       fixture,
diff --git a/test/parallel/test-runner-coverage.js b/test/parallel/test-runner-coverage.js
index fa56c5af3e8..e2cf5d0c680 100644
--- a/test/parallel/test-runner-coverage.js
+++ b/test/parallel/test-runner-coverage.js
@@ -101,7 +101,7 @@ test('test coverage report', async (t) => {
 
     const fixture = fixtures.path('test-runner', 'coverage.js');
     const args = [
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       fixture,
     ];
@@ -120,7 +120,7 @@ test('test tap coverage reporter', skipIfNoInspector, async (t) => {
     t.after(() => tmpdir.refresh());
     const fixture = fixtures.path('test-runner', 'coverage.js');
     const args = [
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       '--test-reporter',
       'tap',
@@ -138,7 +138,7 @@ test('test tap coverage reporter', skipIfNoInspector, async (t) => {
   await t.test('coverage is reported without NODE_V8_COVERAGE present', (t) => {
     const fixture = fixtures.path('test-runner', 'coverage.js');
     const args = [
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       '--test-reporter',
       'tap',
@@ -160,7 +160,7 @@ test('test spec coverage reporter', skipIfNoInspector, async (t) => {
     t.after(() => tmpdir.refresh());
     const fixture = fixtures.path('test-runner', 'coverage.js');
     const args = [
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       '--test-reporter',
       'spec',
@@ -178,7 +178,7 @@ test('test spec coverage reporter', skipIfNoInspector, async (t) => {
   await t.test('coverage is reported without NODE_V8_COVERAGE present', (t) => {
     const fixture = fixtures.path('test-runner', 'coverage.js');
     const args = [
-      '--experimental-test-coverage',
+      '--test-coverage',
       '--test-coverage-exclude=!test/**',
       '--test-reporter',
       'spec',
@@ -197,7 +197,7 @@ test('single process coverage is the same with --test', skipIfNoInspector, () =>
   const fixture = fixtures.path('test-runner', 'coverage.js');
   const args = [
     '--test',
-    '--experimental-test-coverage',
+    '--test-coverage',
     '--test-coverage-exclude=!test/**',
     '--test-reporter',
     'tap',
@@ -235,7 +235,7 @@ test('coverage is combined for multiple processes', skipIfNoInspector, () => {
   const fixture = fixtures.path('v8-coverage', 'combined_coverage');
   const args = [
     '--test',
-    '--experimental-test-coverage',
+    '--test-coverage',
     '--test-coverage-exclude=!test/**',
     '--test-reporter',
     'tap',
@@ -277,7 +277,7 @@ test.skip('coverage works with isolation=none', skipIfNoInspector, common.mustCa
   const fixture = fixtures.path('v8-coverage', 'combined_coverage');
   const args = [
     '--test',
-    '--experimental-test-coverage',
+    '--test-coverage',
     '--test-reporter',
     'tap',
     '--test-isolation=none',
@@ -297,7 +297,7 @@ test('coverage reports on lines, functions, and branches', skipIfNoInspector, as
   const child = spawnSync(process.execPath,
                           [
                             '--test',
-                            '--experimental-test-coverage',
+                            '--test-coverage',
                             '--test-coverage-exclude=!test/**',
                             '--test-reporter',
                             fixtures.fileURL('test-runner/custom_reporters/coverage.mjs'),
@@ -378,7 +378,7 @@ test('coverage with ESM hook - source irrelevant', skipIfNoInspector, () => {
     '--import',
     './register-hooks.js',
     '--test',
-    '--experimental-test-coverage',
+    '--test-coverage',
     '--test-coverage-exclude=!test/**',
     '--test-reporter',
     'tap',
@@ -415,7 +415,7 @@ test('coverage with ESM hook - source transpiled', skipIfNoInspector, () => {
   const args = [
     '--import', './register-hooks.js',
     '--test',
-    '--experimental-test-coverage',
+    '--test-coverage',
     '--test-coverage-exclude=!test/**',
     '--test-reporter', 'tap', 'sum.test.ts',
   ];
@@ -429,7 +429,7 @@ test('coverage with ESM hook - source transpiled', skipIfNoInspector, () => {
 test('coverage with excluded files', skipIfNoInspector, () => {
   const fixture = fixtures.path('test-runner', 'coverage.js');
   const args = [
-    '--experimental-test-coverage', '--test-reporter', 'tap',
+    '--test-coverage', '--test-reporter', 'tap',
     '--test-coverage-exclude=test/*/test-runner/invalid-tap.js',
     '--test-coverage-exclude=!test/**',
     fixture];
@@ -464,7 +464,7 @@ test('coverage with excluded files', skipIfNoInspector, () => {
 test('coverage with included files', skipIfNoInspector, () => {
   const fixture = fixtures.path('test-runner', 'coverage.js');
   const args = [
-    '--experimental-test-coverage', '--test-reporter', 'tap',
+    '--test-coverage', '--test-reporter', 'tap',
     '--test-coverage-include=test/fixtures/test-runner/coverage.js',
     '--test-coverage-include=test/fixtures/v8-coverage/throw.js',
     '--test-coverage-exclude=!test/**',
@@ -501,7 +501,7 @@ test('coverage with included files', skipIfNoInspector, () => {
 test('coverage with included and excluded files', skipIfNoInspector, () => {
   const fixture = fixtures.path('test-runner', 'coverage.js');
   const args = [
-    '--experimental-test-coverage', '--test-reporter', 'tap',
+    '--test-coverage', '--test-reporter', 'tap',
     '--test-coverage-include=test/fixtures/test-runner/*.js',
     '--test-coverage-exclude=test/fixtures/test-runner/*-tap.js',
     fixture,
@@ -626,7 +626,7 @@ test('correctly prints the coverage report of files contained in parent director
   const fixture = fixtures.path('test-runner', 'coverage.js');
   const args = [
     '--test',
-    '--experimental-test-coverage',
+    '--test-coverage',
     '--test-coverage-exclude=!test/**',
     '--test-reporter',
     'tap',
@@ -646,7 +646,7 @@ test('correctly prints the coverage report of files contained in parent director
 test('coverage with directory and file named "file"', skipIfNoInspector, () => {
   const fixture = fixtures.path('test-runner', 'coverage-file-name', 'test.js');
   const args = [
-    '--experimental-test-coverage',
+    '--test-coverage',
     '--test-reporter',
     'tap',
     fixture,
diff --git a/test/parallel/test-runner-flag-propagation.js b/test/parallel/test-runner-flag-propagation.js
index afd7ae7a0ae..1c6bc8a8606 100644
--- a/test/parallel/test-runner-flag-propagation.js
+++ b/test/parallel/test-runner-flag-propagation.js
@@ -28,7 +28,9 @@ describe('test runner flag propagation', () => {
       ['--test-coverage-branches', '100', '100'],
       ['--test-coverage-functions', '100', '100'],
       ['--test-coverage-lines', '100', '100'],
-      ['--experimental-test-coverage', '', false],
+      ['--test-coverage', '', false],
+      ['--experimental-test-coverage', '', false, '--test-coverage',
+       'should not propagate --experimental-test-coverage to child tests'],
       ['--test-coverage-exclude', 'test/**', 'test/**'],
       ['--test-coverage-include', 'src/**', 'src/**'],
       ['--test-update-snapshots', '', true],
@@ -80,7 +82,7 @@ describe('test runner flag propagation', () => {
       ['--test-coverage-branches', 100, 100, 'test'],
       ['--test-coverage-functions', 100, 100, 'test'],
       ['--test-coverage-lines', 100, 100, 'test'],
-      ['--experimental-test-coverage', true, false, 'test'],
+      ['--test-coverage', true, false, 'test'],
       ['--test-coverage-exclude', 'test/**', 'test/**', 'test'],
       ['--test-coverage-include', 'src/**', 'src/**', 'test'],
       ['--test-update-snapshots', true, true, 'test'],