diff --git a/python/pydantic_core/core_schema.py b/python/pydantic_core/core_schema.py
index 2d51d544d..f68b9af0d 100644
--- a/python/pydantic_core/core_schema.py
+++ b/python/pydantic_core/core_schema.py
@@ -2375,7 +2375,8 @@ class WithDefaultSchema(TypedDict, total=False):
     type: Required[Literal['default']]
     schema: Required[CoreSchema]
     default: Any
-    default_factory: Callable[[], Any]
+    default_factory: Union[Callable[[], Any], Callable[[Dict[str, Any]], Any]]
+    default_factory_takes_data: bool
     on_error: Literal['raise', 'omit', 'default']  # default: 'raise'
     validate_default: bool  # default: False
     strict: bool
@@ -2388,7 +2389,8 @@ def with_default_schema(
     schema: CoreSchema,
     *,
     default: Any = PydanticUndefined,
-    default_factory: Callable[[], Any] | None = None,
+    default_factory: Union[Callable[[], Any], Callable[[Dict[str, Any]], Any], None] = None,
+    default_factory_takes_data: bool | None = None,
     on_error: Literal['raise', 'omit', 'default'] | None = None,
     validate_default: bool | None = None,
     strict: bool | None = None,
@@ -2413,7 +2415,8 @@ def with_default_schema(
     Args:
         schema: The schema to add a default value to
         default: The default value to use
-        default_factory: A function that returns the default value to use
+        default_factory: A callable that returns the default value to use
+        default_factory_takes_data: Whether the default factory takes a validated data argument
         on_error: What to do if the schema validation fails. One of 'raise', 'omit', 'default'
         validate_default: Whether the default value should be validated
         strict: Whether the underlying schema should be validated with strict mode
@@ -2425,6 +2428,7 @@ def with_default_schema(
         type='default',
         schema=schema,
         default_factory=default_factory,
+        default_factory_takes_data=default_factory_takes_data,
         on_error=on_error,
         validate_default=validate_default,
         strict=strict,
diff --git a/src/serializers/type_serializers/with_default.rs b/src/serializers/type_serializers/with_default.rs
index 6d510ce55..7a4225d26 100644
--- a/src/serializers/type_serializers/with_default.rs
+++ b/src/serializers/type_serializers/with_default.rs
@@ -72,6 +72,14 @@ impl TypeSerializer for WithDefaultSerializer {
     }
 
     fn get_default(&self, py: Python) -> PyResult<Option<PyObject>> {
-        self.default.default_value(py)
+        if let DefaultType::DefaultFactory(_, _takes_data @ true) = self.default {
+            // We currently don't compute the default if the default factory takes
+            // the data from other fields.
+            Ok(None)
+        } else {
+            self.default.default_value(
+                py, &None, // Won't be used.
+            )
+        }
     }
 }
diff --git a/src/validators/with_default.rs b/src/validators/with_default.rs
index e03830e77..565c31060 100644
--- a/src/validators/with_default.rs
+++ b/src/validators/with_default.rs
@@ -25,7 +25,7 @@ fn get_deepcopy(py: Python) -> PyResult<PyObject> {
 pub enum DefaultType {
     None,
     Default(PyObject),
-    DefaultFactory(PyObject),
+    DefaultFactory(PyObject, bool),
 }
 
 impl DefaultType {
@@ -37,15 +37,32 @@ impl DefaultType {
         ) {
             (Some(_), Some(_)) => py_schema_err!("'default' and 'default_factory' cannot be used together"),
             (Some(default), None) => Ok(Self::Default(default)),
-            (None, Some(default_factory)) => Ok(Self::DefaultFactory(default_factory)),
+            (None, Some(default_factory)) => Ok(Self::DefaultFactory(
+                default_factory,
+                schema
+                    .get_as::<bool>(intern!(py, "default_factory_takes_data"))?
+                    .unwrap_or(false),
+            )),
             (None, None) => Ok(Self::None),
         }
     }
 
-    pub fn default_value(&self, py: Python) -> PyResult<Option<PyObject>> {
+    pub fn default_value(&self, py: Python, validated_data: &Option<Bound<PyDict>>) -> PyResult<Option<PyObject>> {
         match self {
             Self::Default(ref default) => Ok(Some(default.clone_ref(py))),
-            Self::DefaultFactory(ref default_factory) => Ok(Some(default_factory.call0(py)?)),
+            Self::DefaultFactory(ref default_factory, ref takes_data) => {
+                let result = if *takes_data {
+                    if validated_data.is_none() {
+                        default_factory.call1(py, ({},))
+                    } else {
+                        default_factory.call1(py, (validated_data.as_deref().unwrap(),))
+                    }
+                } else {
+                    default_factory.call0(py)
+                };
+
+                Ok(Some(result?))
+            }
             Self::None => Ok(None),
         }
     }
@@ -53,7 +70,7 @@ impl DefaultType {
 
 impl PyGcTraverse for DefaultType {
     fn py_gc_traverse(&self, visit: &PyVisit<'_>) -> Result<(), PyTraverseError> {
-        if let Self::Default(obj) | Self::DefaultFactory(obj) = self {
+        if let Self::Default(obj) | Self::DefaultFactory(obj, _) = self {
             visit.call(obj)?;
         }
         Ok(())
@@ -163,7 +180,7 @@ impl Validator for WithDefaultValidator {
         outer_loc: Option<impl Into<LocItem>>,
         state: &mut ValidationState<'_, 'py>,
     ) -> ValResult<Option<PyObject>> {
-        match self.default.default_value(py)? {
+        match self.default.default_value(py, &state.extra().data)? {
             Some(stored_dft) => {
                 let dft: Py<PyAny> = if self.copy_default {
                     let deepcopy_func = COPY_DEEPCOPY.get_or_init(py, || get_deepcopy(py).unwrap());
diff --git a/tests/validators/test_with_default.py b/tests/validators/test_with_default.py
index 189a555bb..105241140 100644
--- a/tests/validators/test_with_default.py
+++ b/tests/validators/test_with_default.py
@@ -227,12 +227,18 @@ def broken():
         v.validate_python('wrong')
 
 
-def test_factory_type_error():
+def test_factory_missing_arg():
     def broken(x):
         return 7
 
     v = SchemaValidator(
-        {'type': 'default', 'schema': {'type': 'int'}, 'on_error': 'default', 'default_factory': broken}
+        {
+            'type': 'default',
+            'schema': {'type': 'int'},
+            'on_error': 'default',
+            'default_factory': broken,
+            'default_factory_takes_data': False,
+        }
     )
     assert v.validate_python(42) == 42
     assert v.validate_python('42') == 42