diff --git a/src/core/util/props.ts b/src/core/util/props.ts
index 795f5ac37a6..0773ecff734 100644
--- a/src/core/util/props.ts
+++ b/src/core/util/props.ts
@@ -1,5 +1,6 @@
 import { warn } from './debug'
 import { observe, toggleObserving, shouldObserve } from '../observer/index'
+import { isRef } from '../../v3'
 import {
   hasOwn,
   isArray,
@@ -109,6 +110,7 @@ function assertProp(
   vm?: Component,
   absent?: boolean
 ) {
+  value = isRef(value) ? value.value : value
   if (prop.required && absent) {
     warn('Missing required prop: "' + name + '"', vm)
     return
diff --git a/test/unit/features/options/props.spec.ts b/test/unit/features/options/props.spec.ts
index d1d2a6b00f5..10e93214ab2 100644
--- a/test/unit/features/options/props.spec.ts
+++ b/test/unit/features/options/props.spec.ts
@@ -1,6 +1,7 @@
 import Vue from 'vue'
 import { hasSymbol } from 'core/util/env'
 import testObjectOption from '../../../helpers/test-object-option'
+import { ref, h } from 'v3'
 
 describe('Options props', () => {
   testObjectOption('props')
@@ -593,4 +594,36 @@ describe('Options props', () => {
       'Invalid prop type: "String" is not a constructor'
     ).toHaveBeenWarned()
   })
+
+  // #12930
+  it('should work with ref unwrap', function () {
+    function makeInstance(value, type) {
+      const Comp = {
+        props: {
+          msg: {
+            type
+          }
+        },
+        setup() {
+          return () => h('div')
+        }
+      }
+      const App = {
+        setup() {
+          const msg = ref(value)
+          return () => h(Comp, { props: { msg } })
+        }
+      }
+      return new Vue(App).$mount()
+    }
+
+    makeInstance('123', String)
+    expect((console.error as any).mock.calls.length).toBe(0)
+    makeInstance('123', Object)
+    expect('Expected Object, got String with value "123"').toHaveBeenWarned()
+    makeInstance('123', Number)
+    expect(
+      'Expected Number with value 123, got String with value "123"'
+    ).toHaveBeenWarned()
+  })
 })