diff --git a/shared/editor/extensions/Mermaid.ts b/shared/editor/extensions/Mermaid.ts
index a0c960113..5638cefd6 100644
--- a/shared/editor/extensions/Mermaid.ts
+++ b/shared/editor/extensions/Mermaid.ts
@@ -1,3 +1,6 @@
+import debounce from "lodash/debounce";
+import last from "lodash/last";
+import sortBy from "lodash/sortBy";
 import { Node } from "prosemirror-model";
 import {
   Plugin,
@@ -8,13 +11,106 @@ import {
 import { Decoration, DecorationSet } from "prosemirror-view";
 import { v4 as uuidv4 } from "uuid";
 import { isCode } from "../lib/isCode";
-import { findBlockNodes } from "../queries/findChildren";
+import { findBlockNodes, NodeWithPos } from "../queries/findChildren";
 
 type MermaidState = {
   decorationSet: DecorationSet;
   isDark: boolean;
+  initialized: boolean;
 };
 
+type RendererFunc = (block: { node: Node; pos: number }) => void;
+
+class MermaidRenderer {
+  readonly diagramId: string;
+  readonly element: HTMLElement;
+  readonly elementId: string;
+  private currentTextContent = "";
+  private _rendererFunc?: RendererFunc;
+
+  constructor() {
+    this.diagramId = uuidv4();
+    this.elementId = "mermaid-diagram-wrapper-" + this.diagramId;
+    this.element =
+      document.getElementById(this.elementId) || document.createElement("div");
+    this.element.id = this.elementId;
+    this.element.classList.add("mermaid-diagram-wrapper");
+  }
+
+  async renderImmediately(block: { node: Node; pos: number }) {
+    const diagramId = this.diagramId;
+    const element = this.element;
+    const newTextContent = block.node.textContent;
+    if (newTextContent === this.currentTextContent) {
+      return;
+    }
+    try {
+      const { default: mermaid } = await import("mermaid");
+      void mermaid.render(
+        "mermaid-diagram-" + diagramId,
+        newTextContent,
+        (svgCode, bindFunctions) => {
+          this.currentTextContent = newTextContent;
+          element.classList.remove("parse-error", "empty");
+          element.innerHTML = svgCode;
+          bindFunctions?.(element);
+        },
+        element
+      );
+    } catch (error) {
+      const isEmpty = block.node.textContent.trim().length === 0;
+
+      if (isEmpty) {
+        element.innerText = "Empty diagram";
+        element.classList.add("empty");
+      } else {
+        element.innerText = `Error rendering diagram\n\n${error}`;
+        element.classList.add("parse-error");
+      }
+    }
+  }
+
+  get render(): RendererFunc {
+    if (this._rendererFunc) {
+      return this._rendererFunc;
+    }
+    this._rendererFunc = debounce<RendererFunc>(this.renderImmediately, 500);
+    return this._rendererFunc;
+  }
+}
+
+function overlap(
+  start1: number,
+  end1: number,
+  start2: number,
+  end2: number
+): number {
+  return Math.max(0, Math.min(end1, end2) - Math.max(start1, start2));
+}
+/*
+  This code find the decoration that overlap the most with a given node.
+  This will ensure we can find the best decoration that match the last change set
+  See: https://github.com/outline/outline/pull/5852/files#r1334929120
+*/
+function findBestOverlapDecoration(
+  decorations: Decoration[],
+  block: NodeWithPos
+): Decoration | undefined {
+  if (decorations.length === 0) {
+    return undefined;
+  }
+  return last(
+    sortBy(decorations, (decoration) =>
+      overlap(
+        decoration.from,
+        decoration.to,
+        block.pos,
+        block.pos + block.node.nodeSize
+      )
+    )
+  );
+}
+
 function getNewState({
   doc,
   name,
@@ -23,74 +119,58 @@ function getNewState({
   doc: Node;
   name: string;
   pluginState: MermaidState;
-}) {
+}): MermaidState {
   const decorations: Decoration[] = [];
 
   // Find all blocks that represent Mermaid diagrams
-  const blocks: { node: Node; pos: number }[] = findBlockNodes(doc).filter(
+  const blocks = findBlockNodes(doc).filter(
     (item) =>
       item.node.type.name === name && item.node.attrs.language === "mermaidjs"
   );
 
+  let { initialized } = pluginState;
+  if (blocks.length > 0 && !initialized) {
+    void import("mermaid").then(({ default: mermaid }) => {
+      mermaid.initialize({
+        startOnLoad: true,
+        // TODO: Make dynamic based on the width of the editor or remove in
+        // the future if Mermaid is able to handle this automatically.
+        gantt: {
+          useWidth: 700,
+        },
+        theme: pluginState.isDark ? "dark" : "default",
+        fontFamily: "inherit",
+      });
+    });
+
+    initialized = true;
+  }
+
   blocks.forEach((block) => {
     const existingDecorations = pluginState.decorationSet.find(
       block.pos,
-      block.pos + block.node.nodeSize
+      block.pos + block.node.nodeSize,
+      (spec) => !!spec.diagramId
     );
 
-    // Attempt to find the existing diagramId from the decoration, or assign
-    // a new one if none exists yet.
-    const diagramId = existingDecorations[0]?.spec["diagramId"] ?? uuidv4();
+    const bestDecoration = findBestOverlapDecoration(
+      existingDecorations,
+      block
+    );
+
+    const renderer: MermaidRenderer =
+      bestDecoration?.spec?.renderer ?? new MermaidRenderer();
 
     const diagramDecoration = Decoration.widget(
       block.pos + block.node.nodeSize,
       () => {
-        const elementId = "mermaid-diagram-wrapper-" + diagramId;
-        const element =
-          document.getElementById(elementId) || document.createElement("div");
-        element.id = elementId;
-        element.classList.add("mermaid-diagram-wrapper");
-
-        void import("mermaid").then((module) => {
-          module.default.initialize({
-            startOnLoad: true,
-            // TODO: Make dynamic based on the width of the editor or remove in
-            // the future if Mermaid is able to handle this automatically.
-            gantt: {
-              useWidth: 700,
-            },
-            theme: pluginState.isDark ? "dark" : "default",
-            fontFamily: "inherit",
-          });
-
-          try {
-            module.default.render(
-              "mermaid-diagram-" + diagramId,
-              block.node.textContent,
-              (svgCode, bindFunctions) => {
-                element.classList.remove("parse-error", "empty");
-                element.innerHTML = svgCode;
-                bindFunctions?.(element);
-              },
-              element
-            );
-          } catch (error) {
-            const isEmpty = block.node.textContent.trim().length === 0;
-
-            if (isEmpty) {
-              element.innerText = "Empty diagram";
-              element.classList.add("empty");
-            } else {
-              element.innerText = "Error rendering diagram";
-              element.classList.add("parse-error");
-            }
-          }
-        });
-
+        const element = renderer.element;
+        void renderer.render(block);
         return element;
       },
       {
-        diagramId,
+        diagramId: renderer.diagramId,
+        renderer,
       }
     );
 
@@ -99,7 +179,8 @@ function getNewState({
       block.pos + block.node.nodeSize,
       {},
       {
-        diagramId,
+        diagramId: renderer.diagramId,
+        renderer,
       }
     );
 
@@ -110,6 +191,7 @@ function getNewState({
   return {
     decorationSet: DecorationSet.create(doc, decorations),
     isDark: pluginState.isDark,
+    initialized,
   };
 }
 
@@ -127,6 +209,7 @@ export default function Mermaid({
         const pluginState: MermaidState = {
           decorationSet: DecorationSet.create(doc, []),
           isDark,
+          initialized: false,
         };
         return pluginState;
       },