diff --git a/Changes b/Changes
index d38e10ec4..af031e8e1 100644
--- a/Changes
+++ b/Changes
@@ -27,6 +27,7 @@ Verilator 5.023 devel
 * Fix try-lock spuriously fails (#4931) (#4938). [Kamil Rakoczy]
 * Fix V3Unknown unpacked struct x-assign (#4934). [Yan Xu]
 * Fix DFG removing forceable signals (#4942). [Geza Lore]
+* Fix null characters in shortened identifiers (#4946). [Abdul Hameed]
 
 
 Verilator 5.022 2024-02-24
diff --git a/src/V3String.cpp b/src/V3String.cpp
index 45e7da277..6df59770c 100644
--- a/src/V3String.cpp
+++ b/src/V3String.cpp
@@ -563,8 +563,13 @@ string VName::hashedName() {
         VHashSha256 hash{m_name};
         const string suffix = "__Vhsh" + hash.digestSymbol();
         if (s_minLength < s_maxLength) {
-            s_dehashMap[suffix] = m_name.substr(s_minLength);
-            m_hashed = m_name.substr(0, s_minLength) + suffix;
+            // Keep a prefix from the original name
+            // Backup over digits so adding __Vhash doesn't look like a encoded hex digit
+            // ("__0__Vhsh")
+            size_t prefLength = s_minLength;
+            while (prefLength >= 1 && m_name[prefLength - 1] != '_') --prefLength;
+            s_dehashMap[suffix] = m_name.substr(prefLength);
+            m_hashed = m_name.substr(0, prefLength) + suffix;
         } else {
             s_dehashMap[suffix] = m_name;
             m_hashed = suffix;
diff --git a/test_regress/t/t_inst_long_bad.out b/test_regress/t/t_inst_long_bad.out
index 12d38a513..3020fe05a 100644
--- a/test_regress/t/t_inst_long_bad.out
+++ b/test_regress/t/t_inst_long_bad.out
@@ -1,4 +1,4 @@
-%Error: obj_vlt/t_inst_long_bad/t_inst_long.v:4:3: Cannot find file containing module: 'long_long_long_long_long_long_lo__Vhsh1JZCXQVBM1QiASYlLmgTuAXYyUr7VAbJYwVHfiAD'
+%Error: obj_vlt/t_inst_long_bad/t_inst_long.v:4:3: Cannot find file containing module: 'long_long_long_long_long_long___Vhsh1JZCXQVBM1QiASYlLmgTuAXYyUr7VAbJYwVHfiAD'
     4 |   long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_long_ inst ();
       |   ^~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
         ... Unsupported: Name is longer than 127 characters; automatic file lookup not supported.
diff --git a/test_regress/t/t_inst_name_long.pl b/test_regress/t/t_inst_name_long.pl
new file mode 100755
index 000000000..b65c35c81
--- /dev/null
+++ b/test_regress/t/t_inst_name_long.pl
@@ -0,0 +1,16 @@
+#!/usr/bin/env perl
+if (!$::Driver) { use FindBin; exec("$FindBin::Bin/bootstrap.pl", @ARGV, $0); die; }
+# DESCRIPTION: Verilator: Verilog Test driver/expect definition
+#
+# Copyright 2003 by Wilson Snyder. This program is free software; you
+# can redistribute it and/or modify it under the terms of either the GNU
+# Lesser General Public License Version 3 or the Perl Artistic License
+# Version 2.0.
+# SPDX-License-Identifier: LGPL-3.0-only OR Artistic-2.0
+
+scenarios(vlt => 1);
+
+compile();
+
+ok(1);
+1;
diff --git a/test_regress/t/t_inst_name_long.v b/test_regress/t/t_inst_name_long.v
new file mode 100644
index 000000000..964ca30dd
--- /dev/null
+++ b/test_regress/t/t_inst_name_long.v
@@ -0,0 +1,46 @@
+// DESCRIPTION: Verilator: Verilog Test module
+//
+// This file ONLY is placed under the Creative Commons Public Domain, for
+// any use, without warranty, 2024 by Wilson Snyder.
+// SPDX-License-Identifier: CC0-1.0
+
+// verilator lint_off PINMISSING
+// verilator lint_off WIDTHEXPAND
+
+module t;
+   // Original issue
+   sub #(.PARAM("FALSE"))
+     \$mul$/nxx_xxxxxxx/xxxxxxx/XxxxxxxxXxxxxxxxxx/xxx/.././xxx/xxx_xxxxxxxxxx_xxxxx_xxxx_xxx_xxx.v:30$7  (
+    );
+   // Change sizes
+   sub #(.PARAM("FALSE"))
+     \$mul$/nxx_xxxxxxx/xxxxxxx/XxxxxxxXxxxxxxxxx/xxx/.././xxx/xxx_xxxxxxxxxx_xxxxx_xxxx_xxx_xxx.v:30$7  (
+    );
+   sub #(.PARAM("FALSE"))
+     \$mul$/nxx_xxxxxxx/xxxxxxx/Xxxxxxxxxxxxxxxx/xxx/.././xxx/xxx_xxxxxxxxxx_xxxxx_xxxx_xxx_xxx.v:30$7  (
+    );
+   sub #(.PARAM("FALSE"))
+     \$mul$/nxx_xxxxxxx/xxxxxxx/XxxxxXxxxxxxxxx/xxx/.././xxx/xxx_xxxxxxxxxx_xxxxx_xxxx_xxx_xxx.v:30$7  (
+    );
+   sub #(.PARAM("FALSE"))
+     \$mul$/nxx_xxxxxxx/xxxxxxx/XxxxXxxxxxxxxx/xxx/.././xxx/xxx_xxxxxxxxxx_xxxxx_xxxx_xxx_xxx.v:30$7  (
+    );
+   sub #(.PARAM("FALSE"))
+     \$mul$/nxx_xxxxxxx/xxxxxxx/XxxXxxxxxxxxx/xxx/.././xxx/xxx_xxxxxxxxxx_xxxxx_xxxx_xxx_xxx.v:30$7  (
+    );
+   sub #(.PARAM("FALSE"))
+     \$mul$/nxx_xxxxxxx/xxxxxxx/XxxxxxxxxXxxxxxxxxx/xxx/.././xxx/xxx_xxxxxxxxxx_xxxxx_xxxx_xxx_xxx.v:30$7  (
+    );
+   sub #(.PARAM("FALSE"))
+     \$mul$/nxx_xxxxxxx/xxxxxxx/XxxxxxxxxxXxxxxxxxxx/xxx/.././xxx/xxx_xxxxxxxxxx_xxxxx_xxxx_xxx_xxx.v:30$7  (
+    );
+   sub #(.PARAM("FALSE"))
+     \$mul$/nxx_xxxxxxx/xxxxxxx/XxxxxxxxxxxXxxxxxxxxx/xxx/.././xxx/xxx_xxxxxxxxxx_xxxxx_xxxx_xxx_xxx.v:30$7  (
+    );
+
+endmodule
+
+module sub #(parameter PARAM = "TRUE")
+   (input [5:0]   ACC_FIR);
+   always @(ACC_FIR) $display("WARNING: instance %m input is %d", PARAM);
+endmodule