diff --git a/packages/plugin-dts/src/bundledPackages.ts b/packages/plugin-dts/src/bundledPackages.ts
new file mode 100644
index 0000000000..3e6df23d0d
--- /dev/null
+++ b/packages/plugin-dts/src/bundledPackages.ts
@@ -0,0 +1,123 @@
+import { logger, type RsbuildConfig } from '@rsbuild/core';
+import fs from 'node:fs';
+import { join } from 'node:path';
+import type { PluginDtsOptions } from './types/options';
+
+const isObject = (obj: unknown): obj is Record<string, any> =>
+  Object.prototype.toString.call(obj) === '[object Object]';
+
+export const DEFAULT_EXCLUDED_PACKAGES: string[] = ['@types/react'];
+
+type CalculateBundledPackagesOptions = {
+  cwd: string;
+  autoExternal: PluginDtsOptions['autoExternal'];
+  userExternals?: NonNullable<RsbuildConfig['output']>['externals'];
+  overrideBundledPackages?: string[];
+};
+
+// use !externals
+export const calcBundledPackages = (
+  options: CalculateBundledPackagesOptions,
+): string[] => {
+  const { cwd, autoExternal, userExternals, overrideBundledPackages } = options;
+
+  if (overrideBundledPackages) {
+    return overrideBundledPackages;
+  }
+
+  let pkgJson: {
+    dependencies?: Record<string, string>;
+    peerDependencies?: Record<string, string>;
+    devDependencies?: Record<string, string>;
+    optionalDependencies?: Record<string, string>;
+  };
+
+  try {
+    const content = fs.readFileSync(join(cwd, 'package.json'), 'utf-8');
+    pkgJson = JSON.parse(content);
+  } catch {
+    logger.warn(
+      'The type of third-party packages will not be bundled due to read package.json failed',
+    );
+    return [];
+  }
+
+  const externalOptions = autoExternal
+    ? {
+        dependencies: true,
+        peerDependencies: true,
+        optionalDependencies: true,
+        devDependencies: false,
+        ...(autoExternal === true ? {} : autoExternal),
+      }
+    : {
+        dependencies: false,
+        peerDependencies: false,
+        optionalDependencies: false,
+        devDependencies: false,
+      };
+
+  // User externals should not bundled
+  // Only handle the case where the externals type is string / (string | RegExp)[] / plain object, function type is too complex.
+  const forcedBundledPackages = new Set<string>();
+  const getUserExternalsKeys = (
+    value: typeof userExternals,
+  ): (string | RegExp)[] => {
+    if (!value) {
+      return [];
+    }
+
+    if (typeof value === 'string' || value instanceof RegExp) {
+      return [value];
+    }
+
+    if (Array.isArray(value)) {
+      return value.flatMap((v) => getUserExternalsKeys(v));
+    }
+
+    if (isObject(value)) {
+      const keys: string[] = [];
+      for (const [key, external] of Object.entries(value)) {
+        if (external === false) {
+          forcedBundledPackages.add(key);
+        } else {
+          keys.push(key);
+        }
+      }
+      return keys;
+    }
+    return [];
+  };
+
+  const externals: (string | RegExp)[] = getUserExternalsKeys(userExternals);
+
+  const allDeps: string[] = [];
+
+  for (const type of [
+    'dependencies',
+    'peerDependencies',
+    'optionalDependencies',
+    'devDependencies',
+  ] as const) {
+    const deps = pkgJson[type] && Object.keys(pkgJson[type]);
+    if (deps) {
+      if (externalOptions[type]) {
+        externals.push(
+          ...deps.filter((dep) => !forcedBundledPackages.has(dep)),
+        );
+      }
+      allDeps.push(...deps);
+    }
+  }
+
+  const bundledPackages = allDeps.filter(
+    (d) =>
+      !externals.some((e) => (typeof e === 'string' ? d === e : e.test(d))),
+  );
+
+  const filteredBundledPackages = Array.from(new Set(bundledPackages)).filter(
+    (pkg) => !DEFAULT_EXCLUDED_PACKAGES.includes(pkg),
+  );
+
+  return filteredBundledPackages;
+};
diff --git a/packages/plugin-dts/src/dts.ts b/packages/plugin-dts/src/dts.ts
index eeeeb402e5..edd7a8b212 100644
--- a/packages/plugin-dts/src/dts.ts
+++ b/packages/plugin-dts/src/dts.ts
@@ -23,125 +23,6 @@ import {
   mergeAliasWithTsConfigPaths,
 } from './utils';
 
-const isObject = (obj: unknown): obj is Record<string, any> =>
-  Object.prototype.toString.call(obj) === '[object Object]';
-
-export const DEFAULT_EXCLUDED_PACKAGES: string[] = ['@types/react'];
-
-type CalculateBundledPackagesOptions = {
-  cwd: string;
-  autoExternal: DtsGenOptions['autoExternal'];
-  userExternals?: DtsGenOptions['userExternals'];
-  overrideBundledPackages?: string[];
-};
-
-// use !externals
-export const calcBundledPackages = (
-  options: CalculateBundledPackagesOptions,
-): string[] => {
-  const { cwd, autoExternal, userExternals, overrideBundledPackages } = options;
-
-  if (overrideBundledPackages) {
-    return overrideBundledPackages;
-  }
-
-  let pkgJson: {
-    dependencies?: Record<string, string>;
-    peerDependencies?: Record<string, string>;
-    devDependencies?: Record<string, string>;
-    optionalDependencies?: Record<string, string>;
-  };
-
-  try {
-    const content = fs.readFileSync(join(cwd, 'package.json'), 'utf-8');
-    pkgJson = JSON.parse(content);
-  } catch {
-    logger.warn(
-      'The type of third-party packages will not be bundled due to read package.json failed',
-    );
-    return [];
-  }
-
-  const externalOptions = autoExternal
-    ? {
-        dependencies: true,
-        peerDependencies: true,
-        optionalDependencies: true,
-        devDependencies: false,
-        ...(autoExternal === true ? {} : autoExternal),
-      }
-    : {
-        dependencies: false,
-        peerDependencies: false,
-        optionalDependencies: false,
-        devDependencies: false,
-      };
-
-  // User externals should not bundled
-  // Only handle the case where the externals type is string / (string | RegExp)[] / plain object, function type is too complex.
-  const forcedBundledPackages = new Set<string>();
-  const getUserExternalsKeys = (
-    value: typeof userExternals,
-  ): (string | RegExp)[] => {
-    if (!value) {
-      return [];
-    }
-
-    if (typeof value === 'string' || value instanceof RegExp) {
-      return [value];
-    }
-
-    if (Array.isArray(value)) {
-      return value.flatMap((v) => getUserExternalsKeys(v));
-    }
-
-    if (isObject(value)) {
-      const keys: string[] = [];
-      for (const [key, external] of Object.entries(value)) {
-        if (external === false) {
-          forcedBundledPackages.add(key);
-        } else {
-          keys.push(key);
-        }
-      }
-      return keys;
-    }
-    return [];
-  };
-
-  const externals: (string | RegExp)[] = getUserExternalsKeys(userExternals);
-
-  const allDeps: string[] = [];
-
-  for (const type of [
-    'dependencies',
-    'peerDependencies',
-    'optionalDependencies',
-    'devDependencies',
-  ] as const) {
-    const deps = pkgJson[type] && Object.keys(pkgJson[type]);
-    if (deps) {
-      if (externalOptions[type]) {
-        externals.push(
-          ...deps.filter((dep) => !forcedBundledPackages.has(dep)),
-        );
-      }
-      allDeps.push(...deps);
-    }
-  }
-
-  const bundledPackages = allDeps.filter(
-    (d) =>
-      !externals.some((e) => (typeof e === 'string' ? d === e : e.test(d))),
-  );
-
-  const filteredBundledPackages = Array.from(new Set(bundledPackages)).filter(
-    (pkg) => !DEFAULT_EXCLUDED_PACKAGES.includes(pkg),
-  );
-
-  return filteredBundledPackages;
-};
-
 export type PreparedDtsContext = {
   declarationDir: string;
   rootDir: string;
@@ -282,9 +163,7 @@ export async function bundleDtsIfNeeded(
     tsconfigPath: emitTsconfigPath,
     bundleTsconfigPath,
     dtsExtension = '.d.ts',
-    autoExternal = true,
-    userExternals,
-    apiExtractorOptions,
+    bundledPackages,
     banner,
     footer,
   } = data;
@@ -316,12 +195,7 @@ export async function bundleDtsIfNeeded(
     dtsExtension,
     banner,
     footer,
-    bundledPackages: calcBundledPackages({
-      cwd,
-      autoExternal,
-      userExternals,
-      overrideBundledPackages: apiExtractorOptions?.bundledPackages,
-    }),
+    bundledPackages,
   });
 }
 
diff --git a/packages/plugin-dts/src/index.ts b/packages/plugin-dts/src/index.ts
index cab8b68d7a..10b39a61ac 100644
--- a/packages/plugin-dts/src/index.ts
+++ b/packages/plugin-dts/src/index.ts
@@ -12,7 +12,7 @@ import {
   resolveDtsGenerationBackend,
   resolveTypescriptPath,
 } from './backend';
-import { calcBundledPackages } from './dts';
+import { calcBundledPackages } from './bundledPackages';
 import {
   createIsolatedDtsContext,
   processIsolatedDts,
@@ -246,6 +246,7 @@ export const pluginDts: (options?: PluginDtsOptions) => RsbuildPlugin = (
           isolated: _isolated,
           tsgo: _tsgo,
           typescriptPath: _typescriptPath,
+          autoExternal = true,
           ...rest
         } = options;
 
@@ -254,20 +255,16 @@ export const pluginDts: (options?: PluginDtsOptions) => RsbuildPlugin = (
           bundle,
           dtsEntry,
           dtsEmitPath,
-          userExternals: config.output.externals,
           // RegExp externals are lost when the options are sent to the
           // declaration process, so resolve the bundled packages here.
-          apiExtractorOptions: bundle
-            ? {
-                ...apiExtractorOptions,
-                bundledPackages: calcBundledPackages({
-                  cwd,
-                  autoExternal: options.autoExternal ?? true,
-                  userExternals: config.output.externals,
-                  overrideBundledPackages: apiExtractorOptions.bundledPackages,
-                }),
-              }
-            : apiExtractorOptions,
+          bundledPackages: bundle
+            ? calcBundledPackages({
+                cwd,
+                autoExternal,
+                userExternals: config.output.externals,
+                overrideBundledPackages: apiExtractorOptions.bundledPackages,
+              })
+            : [],
           tsconfigPath,
           bundleTsconfigPath: resolvedBundleTsconfigPath ?? tsconfigPath,
           tsConfigResult,
diff --git a/packages/plugin-dts/src/types/internal.ts b/packages/plugin-dts/src/types/internal.ts
index 85f183ce43..e780200ee1 100644
--- a/packages/plugin-dts/src/types/internal.ts
+++ b/packages/plugin-dts/src/types/internal.ts
@@ -1,6 +1,6 @@
-import type { LogLevel, RsbuildConfig } from '@rsbuild/core';
+import type { LogLevel } from '@rsbuild/core';
 import type { ParsedCommandLine } from 'typescript6-api';
-import type { ApiExtractorOptions, PluginDtsOptions } from './options';
+import type { PluginDtsOptions } from './options';
 
 export type DtsGenerationBackend =
   'api-old' | 'api-new' | 'ts7-executable' | 'isolated';
@@ -19,7 +19,7 @@ export type DtsTsconfigResult = OldApiTsconfigResult | TsconfigOptionsResult;
 
 export type DtsGenOptions = Omit<
   PluginDtsOptions,
-  'bundle' | 'isolated' | 'tsgo'
+  'bundle' | 'isolated' | 'tsgo' | 'autoExternal'
 > & {
   bundle: boolean;
   name: string;
@@ -32,8 +32,7 @@ export type DtsGenOptions = Omit<
   tsconfigPath: string;
   bundleTsconfigPath: string;
   tsConfigResult: DtsTsconfigResult;
-  userExternals?: NonNullable<RsbuildConfig['output']>['externals'];
-  apiExtractorOptions?: ApiExtractorOptions;
+  bundledPackages: string[];
   loggerLevel: LogLevel;
   dtsBackend: DtsGenerationBackend;
 };
diff --git a/packages/plugin-dts/tests/external.test.ts b/packages/plugin-dts/tests/external.test.ts
index cb14c8f45b..0b8d4237ab 100644
--- a/packages/plugin-dts/tests/external.test.ts
+++ b/packages/plugin-dts/tests/external.test.ts
@@ -1,7 +1,10 @@
 import { logger } from '@rsbuild/core';
 import { describe, expect, it, rs } from '@rstest/core';
 import fs from 'node:fs';
-import { DEFAULT_EXCLUDED_PACKAGES, calcBundledPackages } from '../src/dts';
+import {
+  DEFAULT_EXCLUDED_PACKAGES,
+  calcBundledPackages,
+} from '../src/bundledPackages';
 
 const defaultExcludePackages = DEFAULT_EXCLUDED_PACKAGES.reduce(
   (acc: Record<string, string>, cur: string) => {
diff --git a/tests/integration/dts/bundle/bundled-packages/rslib.config.ts b/tests/integration/dts/bundle/bundled-packages/rslib.config.ts
index 682dc31596..4bdb4f8cb4 100644
--- a/tests/integration/dts/bundle/bundled-packages/rslib.config.ts
+++ b/tests/integration/dts/bundle/bundled-packages/rslib.config.ts
@@ -48,5 +48,16 @@ export default defineConfig({
         distPath: './dist/esm/regexp-externals',
       },
     }),
+    generateBundleEsmConfig({
+      dts: {
+        bundle: {
+          bundledPackages: ['@reduxjs/toolkit'],
+        },
+      },
+      output: {
+        externals: [/^@reduxjs\/toolkit$/],
+        distPath: './dist/esm/bundled-packages-priority',
+      },
+    }),
   ],
 });
diff --git a/tests/integration/dts/bundle/index.test.ts b/tests/integration/dts/bundle/index.test.ts
index 1592ca9265..84f538064a 100644
--- a/tests/integration/dts/bundle/index.test.ts
+++ b/tests/integration/dts/bundle/index.test.ts
@@ -253,7 +253,7 @@ describe('dts when bundle: true', () => {
     restore();
   });
 
-  test('override with bundledPackages', async () => {
+  test('respects bundledPackages and externals', async () => {
     const fixturePath = join(__dirname, 'bundled-packages');
     const { entries } = await buildAndGetResults({
       fixturePath,
@@ -277,5 +277,12 @@ describe('dts when bundle: true', () => {
 
     // RegExp externals
     expect(entries.esm3).toContain(`export * from "@reduxjs/toolkit";`);
+    expect(entries.esm3).not.toContain(
+      'export declare function configureStore',
+    );
+
+    // Explicit bundledPackages takes precedence over RegExp externals.
+    expect(entries.esm4).toContain('export declare function configureStore');
+    expect(entries.esm4).not.toContain(`export * from "@reduxjs/toolkit";`);
   });
 });