diff --git a/changelog/13053.bugfix.rst b/changelog/13053.bugfix.rst
new file mode 100644
index 00000000000..b6744331394
--- /dev/null
+++ b/changelog/13053.bugfix.rst
@@ -0,0 +1 @@
+Fixed a regression in pytest 8.3.4 where, when using ``--import-mode=importlib``, a directory containing py file with the same name would cause an ``ImportError``
diff --git a/src/_pytest/pathlib.py b/src/_pytest/pathlib.py
index 7c368e0dcd0..25dc69b6349 100644
--- a/src/_pytest/pathlib.py
+++ b/src/_pytest/pathlib.py
@@ -694,9 +694,16 @@ def _import_module_using_spec(
     # Checking with sys.meta_path first in case one of its hooks can import this module,
     # such as our own assertion-rewrite hook.
     for meta_importer in sys.meta_path:
-        spec = meta_importer.find_spec(
-            module_name, [str(module_location), str(module_path)]
-        )
+        module_name_of_meta = getattr(meta_importer.__class__, "__module__", "")
+        if module_name_of_meta == "_pytest.assertion.rewrite" and module_path.is_file():
+            # Import modules in subdirectories by module_path
+            # to ensure assertion rewrites are not missed (#12659).
+            find_spec_path = [str(module_location), str(module_path)]
+        else:
+            find_spec_path = [str(module_location)]
+
+        spec = meta_importer.find_spec(module_name, find_spec_path)
+
         if spec_matches_module_path(spec, module_path):
             break
     else:
diff --git a/testing/test_pathlib.py b/testing/test_pathlib.py
index a21d1edf970..5a13cd5a400 100644
--- a/testing/test_pathlib.py
+++ b/testing/test_pathlib.py
@@ -1498,6 +1498,34 @@ def test():
             ]
         )
 
+    def test_ns_multiple_levels_import_error(
+        self,
+        tmp_path: Path,
+        pytester: Pytester,
+    ) -> None:
+        # Trigger condition 1: ns and file with the same name
+        file = pytester.path / "cow/moo/moo.py"
+        file.parent.mkdir(parents=True)
+        file.write_text("data=123", encoding="utf-8")
+
+        # Trigger condition 2: tests are located in ns
+        tests = pytester.path / "cow/moo/test_moo.py"
+
+        tests.write_text(
+            dedent(
+                """
+            from cow.moo.moo import data
+
+            def test_moo():
+                print(data)
+            """
+            ),
+            encoding="utf-8",
+        )
+
+        result = pytester.runpytest("--import-mode=importlib")
+        assert result.ret == ExitCode.OK
+
     @pytest.mark.parametrize("import_mode", ["prepend", "append", "importlib"])
     def test_incorrect_namespace_package(
         self,