diff --git a/packages/react-native/ReactCommon/react/renderer/textlayoutmanager/platform/ios/react/renderer/textlayoutmanager/RCTAttributedTextUtils.mm b/packages/react-native/ReactCommon/react/renderer/textlayoutmanager/platform/ios/react/renderer/textlayoutmanager/RCTAttributedTextUtils.mm
index 16b942dadfe9..2a1f2a890496 100644
--- a/packages/react-native/ReactCommon/react/renderer/textlayoutmanager/platform/ios/react/renderer/textlayoutmanager/RCTAttributedTextUtils.mm
+++ b/packages/react-native/ReactCommon/react/renderer/textlayoutmanager/platform/ios/react/renderer/textlayoutmanager/RCTAttributedTextUtils.mm
@@ -421,6 +421,10 @@ void RCTApplyBaselineOffset(NSMutableAttributedString *attributedText)
 
     string = [NSString stringWithFormat:@"%C", (unichar)NSAttachmentCharacter];
     attributes = [NSMutableDictionary dictionaryWithObject:attachment forKey:NSAttachmentAttributeName];
+    UIFont *font = RCTEffectiveFontFromTextAttributes(fragment.textAttributes);
+    if (font) {
+      attributes[NSFontAttributeName] = font;
+    }
   } else {
     NSString *decoded = [[NSString alloc] initWithBytes:fragment.string.data()
                                                  length:fragment.string.size()
diff --git a/packages/react-native/ReactCommon/react/renderer/textlayoutmanager/platform/ios/react/renderer/textlayoutmanager/RCTTextLayoutManager.mm b/packages/react-native/ReactCommon/react/renderer/textlayoutmanager/platform/ios/react/renderer/textlayoutmanager/RCTTextLayoutManager.mm
index 0d9100187bd2..d47460c0ce1a 100644
--- a/packages/react-native/ReactCommon/react/renderer/textlayoutmanager/platform/ios/react/renderer/textlayoutmanager/RCTTextLayoutManager.mm
+++ b/packages/react-native/ReactCommon/react/renderer/textlayoutmanager/platform/ios/react/renderer/textlayoutmanager/RCTTextLayoutManager.mm
@@ -703,13 +703,15 @@ - (TextMeasurement)_measureTextStorage:(NSTextStorage *)textStorage
                   CGRect glyphRect = [layoutManager boundingRectForGlyphRange:range inTextContainer:textContainer];
 
                   CGRect frame;
-                  UIFont *font = [[textStorage attributedSubstringFromRange:range] attribute:NSFontAttributeName
-                                                                                     atIndex:0
-                                                                              effectiveRange:nil];
+                  NSDictionary<NSAttributedStringKey, id> *attributes = [textStorage attributesAtIndex:range.location
+                                                                                        effectiveRange:nil];
+                  UIFont *font = attributes[NSFontAttributeName];
+                  CGFloat baselineOffset = [attributes[NSBaselineOffsetAttributeName] doubleValue];
                   frame = {
                       .origin =
                           {glyphRect.origin.x,
-                           glyphRect.origin.y + glyphRect.size.height - attachmentSize.height + font.descender},
+                           glyphRect.origin.y + glyphRect.size.height - attachmentSize.height + font.descender -
+                               baselineOffset},
                       .size = attachmentSize};
 
                   auto rect = facebook::react::Rect{
diff --git a/packages/rn-tester/js/examples/Text/TextExample.ios.js b/packages/rn-tester/js/examples/Text/TextExample.ios.js
index c3c44c305ace..9bd165f0fb98 100644
--- a/packages/rn-tester/js/examples/Text/TextExample.ios.js
+++ b/packages/rn-tester/js/examples/Text/TextExample.ios.js
@@ -15,6 +15,7 @@ import type {RNTesterModule} from '../../types/RNTesterTypes';
 import hotdog from '../../assets/hotdog.jpg';
 import RNTesterText from '../../components/RNTesterText';
 import TextLegend from '../../components/TextLegend';
+import {TextInlineViewBaselineExample} from './TextInlineViewBaselineExample';
 import TextSharedExamples from './TextSharedExamples';
 import TextWidthModeExample from './TextWidthModeExample';
 
@@ -1354,6 +1355,11 @@ const examples = [
     title: 'Inline views',
     render: (): React.Node => <TextInlineView.Basic />,
   },
+  {
+    title: 'Inline view baseline alignment',
+    name: 'inline-view-baseline',
+    render: (): React.Node => <TextInlineViewBaselineExample />,
+  },
   {
     title: 'Inline views with line height',
     name: 'inlineViewsLineHeight',
diff --git a/packages/rn-tester/js/examples/Text/TextInlineViewBaselineExample.js b/packages/rn-tester/js/examples/Text/TextInlineViewBaselineExample.js
new file mode 100644
index 000000000000..6047d00c3d65
--- /dev/null
+++ b/packages/rn-tester/js/examples/Text/TextInlineViewBaselineExample.js
@@ -0,0 +1,197 @@
+/**
+ * Copyright (c) Meta Platforms, Inc. and affiliates.
+ *
+ * This source code is licensed under the MIT license found in the
+ * LICENSE file in the root directory of this source tree.
+ *
+ * @flow strict-local
+ * @format
+ */
+
+import type {TextStyle} from 'react-native';
+
+import RNTesterText from '../../components/RNTesterText';
+import * as React from 'react';
+import {
+  ScrollView,
+  StyleSheet,
+  Text,
+  View,
+  useWindowDimensions,
+} from 'react-native';
+
+const INLINE_SIZE = 18;
+const DEFAULT_FONT_SIZE = 20;
+const MEDIUM_FONT_SIZE = 24;
+const LARGE_FONT_SIZE = 32;
+const TALL_LINE_HEIGHT = 48;
+const FONT_FAMILY = 'Helvetica';
+const SERIF_FONT_FAMILY = 'TimesNewRomanPSMT';
+const SPACING = 8;
+const DISPLAY_DECIMAL_PLACES = 3;
+
+type Sample = Readonly<{
+  name: string,
+  textStyle: TextStyle,
+  height?: number,
+  isNested?: boolean,
+  isWrapped?: boolean,
+  isScaled?: boolean,
+}>;
+
+const SAMPLES: Sample[] = [
+  {
+    name: 'Helvetica 12 (control)',
+    textStyle: {fontFamily: FONT_FAMILY, fontSize: 12},
+  },
+  {name: 'System 20', textStyle: {fontSize: DEFAULT_FONT_SIZE}},
+  {
+    name: 'Helvetica 32',
+    textStyle: {fontFamily: FONT_FAMILY, fontSize: LARGE_FONT_SIZE},
+  },
+  {
+    name: 'Times New Roman 32',
+    textStyle: {fontFamily: SERIF_FONT_FAMILY, fontSize: LARGE_FONT_SIZE},
+  },
+  {
+    name: 'Courier bold 24',
+    textStyle: {
+      fontFamily: 'Courier',
+      fontSize: MEDIUM_FONT_SIZE,
+      fontWeight: 'bold',
+    },
+  },
+  {
+    name: 'Helvetica 32 / lineHeight 48',
+    textStyle: {
+      fontFamily: FONT_FAMILY,
+      fontSize: LARGE_FONT_SIZE,
+      lineHeight: TALL_LINE_HEIGHT,
+    },
+  },
+  {
+    name: 'Nested Times New Roman 32',
+    textStyle: {fontFamily: SERIF_FONT_FAMILY, fontSize: LARGE_FONT_SIZE},
+    isNested: true,
+  },
+  {
+    name: 'Tall View / Helvetica 20',
+    textStyle: {fontFamily: FONT_FAMILY, fontSize: DEFAULT_FONT_SIZE},
+    height: TALL_LINE_HEIGHT,
+  },
+  {
+    name: 'Wrapped / Helvetica 24',
+    textStyle: {fontFamily: FONT_FAMILY, fontSize: MEDIUM_FONT_SIZE},
+    isWrapped: true,
+  },
+  {
+    name: 'Scaled / Helvetica 20',
+    textStyle: {fontFamily: FONT_FAMILY, fontSize: DEFAULT_FONT_SIZE},
+    isScaled: true,
+  },
+];
+
+function InlineViewBaselineSample({
+  name,
+  textStyle,
+  height = INLINE_SIZE,
+  isNested = false,
+  isWrapped = false,
+  isScaled = false,
+}: Sample): React.Node {
+  const [baseline, setBaseline] = React.useState<?number>();
+  const [bottom, setBottom] = React.useState<?number>();
+  const inlineRef = React.useRef<React.ElementRef<typeof View> | null>(null);
+
+  React.useEffect(() => {
+    inlineRef.current?.measure((x, y, width, measuredHeight) => {
+      setBottom(measuredHeight > 0 ? y + measuredHeight : undefined);
+    });
+  }, [baseline]);
+
+  const content = (
+    <>
+      {'Hg '}
+      <View ref={inlineRef} testID={name} style={[styles.inline, {height}]} />
+      {' Hg'}
+    </>
+  );
+
+  return (
+    <View style={styles.sample}>
+      <RNTesterText allowFontScaling={false} variant="label">
+        {name}
+      </RNTesterText>
+      <View style={styles.paragraph}>
+        <Text
+          allowFontScaling={isScaled}
+          style={[styles.text, isNested ? styles.nestedParent : textStyle]}
+          onTextLayout={event => {
+            const line = event.nativeEvent.lines[isWrapped ? 1 : 0];
+            if (line != null) {
+              setBaseline(line.y + line.ascender);
+            }
+          }}>
+          {isWrapped ? 'First line\n' : ''}
+          {isNested ? <Text style={textStyle}>{content}</Text> : content}
+        </Text>
+        {baseline != null ? (
+          <View
+            pointerEvents="none"
+            style={[styles.baseline, {top: baseline}]}
+          />
+        ) : null}
+      </View>
+      <RNTesterText
+        allowFontScaling={false}
+        testID={`${name}-metrics`}
+        style={styles.metrics}>
+        {baseline == null
+          ? 'Measuring...'
+          : bottom == null
+            ? 'View measurement unavailable'
+            : `baseline ${baseline.toFixed(DISPLAY_DECIMAL_PLACES)} | bottom ${bottom.toFixed(DISPLAY_DECIMAL_PLACES)} | error ${(bottom - baseline).toFixed(DISPLAY_DECIMAL_PLACES)} pt`}
+      </RNTesterText>
+    </View>
+  );
+}
+
+export function TextInlineViewBaselineExample(): React.Node {
+  const {scale, fontScale} = useWindowDimensions();
+
+  return (
+    <ScrollView
+      contentContainerStyle={styles.example}
+      contentInsetAdjustmentBehavior="automatic"
+      testID="inline-view-baseline-example">
+      <RNTesterText allowFontScaling={false} variant="label">
+        Each blue View should end at the red text baseline. Allow one physical
+        pixel for rounding. Enlarge the system text size to check the scaled
+        sample.
+      </RNTesterText>
+      <RNTesterText allowFontScaling={false} style={styles.metrics}>
+        {`One pixel: ${(1 / scale).toFixed(DISPLAY_DECIMAL_PLACES)} pt | font scale: ${fontScale.toFixed(DISPLAY_DECIMAL_PLACES)} (last sample only)`}
+      </RNTesterText>
+      {SAMPLES.map(sample => (
+        <InlineViewBaselineSample key={sample.name} {...sample} />
+      ))}
+    </ScrollView>
+  );
+}
+
+const styles = StyleSheet.create({
+  example: {gap: SPACING, padding: SPACING * 2},
+  sample: {gap: SPACING / 2},
+  paragraph: {backgroundColor: '#f1f5f9'},
+  text: {color: 'black'},
+  inline: {width: INLINE_SIZE, backgroundColor: '#2563eb'},
+  baseline: {
+    position: 'absolute',
+    left: 0,
+    right: 0,
+    height: 1,
+    backgroundColor: '#dc2626',
+  },
+  nestedParent: {fontFamily: FONT_FAMILY, fontSize: 16},
+  metrics: {fontSize: 10, fontFamily: 'Menlo'},
+});