diff --git a/src/quicktemplates/qquickmenu.cpp b/src/quicktemplates/qquickmenu.cpp
index 5df434ee02..8686cff954 100644
--- a/src/quicktemplates/qquickmenu.cpp
+++ b/src/quicktemplates/qquickmenu.cpp
@@ -907,10 +907,16 @@ void QQuickMenuPrivate::itemSiblingOrderChanged(QQuickItem *)
 
 void QQuickMenuPrivate::itemDestroyed(QQuickItem *item)
 {
-    QQuickPopupPrivate::itemDestroyed(item);
-    int index = contentModel->indexOf(item, nullptr);
-    if (index != -1)
-        removeItem(index, item);
+    if (item == contentItem) {
+        resetContentItem();
+    } else {
+        QQuickPopupPrivate::itemDestroyed(item);
+        if (contentModel) {
+            int index = contentModel->indexOf(item, nullptr);
+            if (index != -1)
+                removeItem(index, item);
+        }
+    }
 }
 
 void QQuickMenuPrivate::itemGeometryChanged(QQuickItem *item, QQuickGeometryChange, const QRectF &)
@@ -1343,6 +1349,20 @@ void QQuickMenuPrivate::contentData_clear(QQmlListProperty<QObject> *prop)
     QQuickMenuPrivate::get(q)->contentData.clear();
 }
 
+void QQuickMenuPrivate::resetContentItem()
+{
+    if (contentItem) {
+        QQuickItemPrivate::get(contentItem)->removeItemChangeListener(this, QQuickItemPrivate::Children);
+        QQuickItemPrivate::get(contentItem)->removeItemChangeListener(this, QQuickItemPrivate::Destroyed);
+        QQuickItemPrivate::get(contentItem)->removeItemChangeListener(this, QQuickItemPrivate::Geometry);
+
+        const auto children = contentItem->childItems();
+        for (QQuickItem *child : std::as_const(children))
+            QQuickItemPrivate::get(child)->removeItemChangeListener(this, QQuickItemPrivate::SiblingOrder);
+        contentItem = nullptr;
+    }
+}
+
 QQuickMenu::QQuickMenu(QObject *parent)
     : QQuickPopup(*(new QQuickMenuPrivate), parent)
 {
@@ -1359,6 +1379,15 @@ QQuickMenu::~QQuickMenu()
                           << "item count:"
                           << d->contentModel->count()
                           << "native item count:" << d->nativeItems.count();
+    // It would be better to reset the sub-menu within the menu-item during its destruction
+    // as there can be a chance that the parent menu use invalid reference leading to
+    // application crash (as mentioned in the bug report QTBUG-137160)
+    if (auto *menuItem = qobject_cast<QQuickMenuItem *>(d->parentItem)) {
+        if (menuItem->subMenu() == this) {
+            auto *menuItemPriv = QQuickMenuItemPrivate::get(menuItem);
+            menuItemPriv->setSubMenu(nullptr);
+        }
+    }
     // We have to remove items to ensure that our change listeners on the item
     // are removed. It's too late to do this in ~QQuickMenuPrivate, as
     // contentModel has already been destroyed before that is called.
@@ -1367,14 +1396,7 @@ QQuickMenu::~QQuickMenu()
     while (d->contentModel->count() > 0)
         d->removeItem(0, d->itemAt(0), QQuickMenuPrivate::DestructionPolicy::Destroy);
 
-    if (d->contentItem) {
-        QQuickItemPrivate::get(d->contentItem)->removeItemChangeListener(d, QQuickItemPrivate::Children);
-        QQuickItemPrivate::get(d->contentItem)->removeItemChangeListener(d, QQuickItemPrivate::Geometry);
-
-        const auto children = d->contentItem->childItems();
-        for (QQuickItem *child : std::as_const(children))
-            QQuickItemPrivate::get(child)->removeItemChangeListener(d, QQuickItemPrivate::SiblingOrder);
-    }
+    d->resetContentItem();
 }
 
 /*!
@@ -2173,10 +2195,12 @@ void QQuickMenu::contentItemChange(QQuickItem *newItem, QQuickItem *oldItem)
 
     if (oldItem) {
         QQuickItemPrivate::get(oldItem)->removeItemChangeListener(d, QQuickItemPrivate::Children);
+        QQuickItemPrivate::get(newItem)->removeItemChangeListener(d, QQuickItemPrivate::Destroyed);
         QQuickItemPrivate::get(oldItem)->removeItemChangeListener(d, QQuickItemPrivate::Geometry);
     }
     if (newItem) {
         QQuickItemPrivate::get(newItem)->addItemChangeListener(d, QQuickItemPrivate::Children);
+        QQuickItemPrivate::get(newItem)->addItemChangeListener(d, QQuickItemPrivate::Destroyed);
         QQuickItemPrivate::get(newItem)->updateOrAddGeometryChangeListener(d, QQuickGeometryChange::Width);
     }
 
diff --git a/src/quicktemplates/qquickmenu_p_p.h b/src/quicktemplates/qquickmenu_p_p.h
index 42ad2c77c4..ec8d5f2e1c 100644
--- a/src/quicktemplates/qquickmenu_p_p.h
+++ b/src/quicktemplates/qquickmenu_p_p.h
@@ -131,6 +131,8 @@ public:
     QPalette defaultPalette() const override;
     virtual QQuickPopup::PopupType resolvedPopupType() const override;
 
+    void resetContentItem();
+
     bool cascade = false;
     bool triedToCreateNativeMenu = false;
     int hoverTimer = 0;
@@ -139,9 +141,9 @@ public:
     qreal textPadding = 0;
     QPointer<QQuickMenu> parentMenu;
     QPointer<QQuickMenuItem> currentItem;
-    QQuickItem *contentItem = nullptr; // TODO: cleanup
+    QPointer<QQuickItem> contentItem;
     QList<QObject *> contentData;
-    QQmlObjectModel *contentModel;
+    QPointer<QQmlObjectModel> contentModel;
     QQmlComponent *delegate = nullptr;
     QString title;
     QQuickIcon icon;
diff --git a/src/quicktemplates/qquickmenuitem_p_p.h b/src/quicktemplates/qquickmenuitem_p_p.h
index 3ef4981570..bc1e585985 100644
--- a/src/quicktemplates/qquickmenuitem_p_p.h
+++ b/src/quicktemplates/qquickmenuitem_p_p.h
@@ -47,7 +47,7 @@ public:
     bool highlighted = false;
     QQuickDeferredPointer<QQuickItem> arrow;
     QQuickMenu *menu = nullptr;
-    QQuickMenu *subMenu = nullptr;
+    QPointer<QQuickMenu> subMenu;
     qreal implicitTextPadding;
 };
 
diff --git a/tests/auto/quickcontrols/qquickmenu/data/loadMenuAsynchronously.qml b/tests/auto/quickcontrols/qquickmenu/data/loadMenuAsynchronously.qml
new file mode 100644
index 0000000000..3e73044a20
--- /dev/null
+++ b/tests/auto/quickcontrols/qquickmenu/data/loadMenuAsynchronously.qml
@@ -0,0 +1,62 @@
+import QtQuick
+import QtQuick.Controls
+
+Item {
+    width:100
+    height:100
+
+    property alias loader: menuLoader
+    property bool activateLoader: false
+
+    onActivateLoaderChanged: {
+        if (activateLoader) {
+            menuTimer.start()
+            menuLoader.active = true
+        }
+    }
+
+    Timer {
+        id: menuTimer
+        interval: 20
+        onTriggered: menuLoader.active = false
+    }
+
+    Loader {
+        id: menuLoader
+        active: false
+        asynchronous: true
+        sourceComponent: Menu {
+            contentItem: ListView {}
+            Menu {}
+            MenuSeparator {}
+            Action {}
+            Menu {
+                Action {}
+                Action {}
+                Menu {}
+            }
+            MenuItem {}
+            Item {
+                Menu {}
+            }
+            Menu {
+                MenuItem {}
+                Action {}
+                MenuItem {}
+            }
+            // Dummy menu items
+            Menu {}
+            Menu {}
+            MenuSeparator {}
+            Menu {}
+            Menu {}
+            MenuSeparator {}
+            Menu {}
+            Menu {}
+            MenuSeparator {}
+            Menu {}
+            Menu {}
+        }
+    }
+}
+
diff --git a/tests/auto/quickcontrols/qquickmenu/tst_qquickmenu.cpp b/tests/auto/quickcontrols/qquickmenu/tst_qquickmenu.cpp
index 0387df813d..aefa8c1e0d 100644
--- a/tests/auto/quickcontrols/qquickmenu/tst_qquickmenu.cpp
+++ b/tests/auto/quickcontrols/qquickmenu/tst_qquickmenu.cpp
@@ -19,8 +19,10 @@
 #include <QtQuick/private/qquicklistview_p.h>
 #include <QtQuick/private/qquickmousearea_p.h>
 #include <QtQuick/private/qquickrectangle_p.h>
+#include <QtQuick/private/qquickloader_p.h>
 #include <QtQuickTest/quicktest.h>
 #include <QtQuickTestUtils/private/qmlutils_p.h>
+#include <QtQuickTestUtils/private/viewtestutils_p.h>
 #include <QtQuickTestUtils/private/visualtestutils_p.h>
 #include <QtQuickControlsTestUtils/private/controlstestutils_p.h>
 #include <QtQuickControlsTestUtils/private/qtest_quickcontrols_p.h>
@@ -127,6 +129,7 @@ private slots:
     void shortcutInNestedSubMenuAction();
     void animationOnHeight();
     void dontDeleteDelegates();
+    void loadMenuAsynchronously();
 
 private:
     bool nativeMenuSupported = false;
@@ -3562,6 +3565,40 @@ void tst_QQuickMenu::dontDeleteDelegates()
     QVERIFY(delegateComponent2);
 }
 
+void tst_QQuickMenu::loadMenuAsynchronously()
+{
+    QQuickView window(testFileUrl("loadMenuAsynchronously.qml"));
+    QCOMPARE(window.status(), QQuickView::Ready);
+    window.show();
+    window.requestActivate();
+    QVERIFY(QTest::qWaitForWindowActive(&window));
+
+    auto *rootItem = window.rootObject();
+    QVERIFY(rootItem);
+
+    auto *loader = rootItem->property("loader").value<QQuickLoader*>();
+    QVERIFY(loader);
+    QCOMPARE(loader->active(), false);
+    QCOMPARE(loader->asynchronous(), true);
+
+    auto activateLoader = rootItem->property("activateLoader").value<bool>();
+    QCOMPARE(activateLoader, false);
+    QVERIFY(rootItem->setProperty("activateLoader", true));
+    activateLoader = rootItem->property("activateLoader").value<bool>();
+    QCOMPARE(activateLoader, true);
+
+    QTRY_COMPARE(loader->active(), false);
+
+    rootItem->setProperty("activateLoader", false);
+    activateLoader = rootItem->property("activateLoader").value<bool>();
+    QCOMPARE(activateLoader, false);
+    QVERIFY(rootItem->setProperty("activateLoader", true));
+    activateLoader = rootItem->property("activateLoader").value<bool>();
+    QCOMPARE(activateLoader, true);
+
+    QTRY_COMPARE(loader->active(), false);
+}
+
 QTEST_QUICKCONTROLS_MAIN(tst_QQuickMenu)
 
 #include "tst_qquickmenu.moc"