diff --git a/docs/changelog/3020.misc.rst b/docs/changelog/3020.misc.rst
new file mode 100644
index 000000000..517125554
--- /dev/null
+++ b/docs/changelog/3020.misc.rst
@@ -0,0 +1 @@
+Remove unnecessary usage of ``Future`` from ``tox.config.api.Loader.load()``.
diff --git a/src/tox/config/loader/api.py b/src/tox/config/loader/api.py
index fcac1f839..a0786458c 100644
--- a/src/tox/config/loader/api.py
+++ b/src/tox/config/loader/api.py
@@ -2,9 +2,7 @@
 
 from abc import abstractmethod
 from argparse import ArgumentTypeError
-from concurrent.futures import Future
-from contextlib import contextmanager
-from typing import TYPE_CHECKING, Any, Generator, List, Mapping, TypeVar
+from typing import TYPE_CHECKING, Any, List, Mapping, TypeVar
 
 from tox.plugin import impl
 
@@ -122,22 +120,17 @@ def load(
         if key in self.overrides:
             return _STR_CONVERT.to(self.overrides[key].value, of_type, factory)
         raw = self.load_raw(key, conf, args.env_name)
-        future: Future[V] = Future()
-        with self.build(future, key, of_type, conf, raw, args) as prepared:
-            converted = self.to(prepared, of_type, factory)
-            future.set_result(converted)
-        return converted
+        return self.build(key, of_type, factory, conf, raw, args)
 
-    @contextmanager
     def build(
         self,
-        future: Future[V],  # noqa: U100
         key: str,  # noqa: U100
-        of_type: type[V],  # noqa: U100
+        of_type: type[V],
+        factory: Factory[V],
         conf: Config | None,  # noqa: U100
         raw: T,
         args: ConfigLoadArgs,  # noqa: U100
-    ) -> Generator[T, None, None]:
+    ) -> V:
         """
         Materialize the raw configuration value from the loader.
 
@@ -148,7 +141,7 @@ def build(
         :param raw: the raw value
         :param args: env args
         """
-        yield raw
+        return self.to(raw, of_type, factory)
 
 
 @impl
diff --git a/src/tox/config/loader/ini/__init__.py b/src/tox/config/loader/ini/__init__.py
index 270dc13bb..1dfb8be09 100644
--- a/src/tox/config/loader/ini/__init__.py
+++ b/src/tox/config/loader/ini/__init__.py
@@ -2,12 +2,11 @@
 
 import inspect
 import re
-from concurrent.futures import Future
 from configparser import ConfigParser, SectionProxy
-from contextlib import contextmanager
-from typing import TYPE_CHECKING, Generator, TypeVar
+from typing import TYPE_CHECKING, TypeVar
 
 from tox.config.loader.api import ConfigLoadArgs, Loader, Override
+from tox.config.loader.convert import Factory
 from tox.config.loader.ini.factor import filter_for_env
 from tox.config.loader.ini.replace import replace
 from tox.config.loader.section import Section
@@ -57,16 +56,15 @@ def process_raw(conf: Config | None, env_name: str | None, value: str) -> str:
         collapsed = factor_filtered.replace("\r", "").replace("\\\n", "")  # collapse explicit new-line escape
         return collapsed
 
-    @contextmanager
     def build(
         self,
-        future: Future[V],
         key: str,
         of_type: type[V],
+        factory: Factory[V],
         conf: Config | None,
         raw: str,
         args: ConfigLoadArgs,
-    ) -> Generator[str, None, None]:
+    ) -> V:
         delay_replace = inspect.isclass(of_type) and issubclass(of_type, SetEnv)
 
         def replacer(raw_: str, args_: ConfigLoadArgs) -> str:
@@ -83,12 +81,11 @@ def replacer(raw_: str, args_: ConfigLoadArgs) -> str:
                     raise HandledError(msg) from exception
             return replaced
 
-        if not delay_replace:
-            raw = replacer(raw, args)
-        yield raw
+        prepared = replacer(raw, args) if not delay_replace else raw
+        converted = self.to(prepared, of_type, factory)
         if delay_replace:
-            converted = future.result()
             converted.use_replacer(replacer, args)  # type: ignore[attr-defined] # this can be only set_env that has it
+        return converted
 
     def found_keys(self) -> set[str]:
         return set(self._section_proxy.keys())