diff --git a/gorm.go b/gorm.go
index c852e60c..419f9155 100644
--- a/gorm.go
+++ b/gorm.go
@@ -179,7 +179,7 @@ func Open(dialector Dialector, opts ...Option) (db *DB, err error) {
 
 	preparedStmt := &PreparedStmtDB{
 		ConnPool:    db.ConnPool,
-		Stmts:       map[string]Stmt{},
+		Stmts:       map[string](*Stmt){},
 		Mux:         &sync.RWMutex{},
 		PreparedSQL: make([]string, 0, 100),
 	}
diff --git a/prepare_stmt.go b/prepare_stmt.go
index d16ae6c3..360b06a8 100644
--- a/prepare_stmt.go
+++ b/prepare_stmt.go
@@ -9,10 +9,12 @@ import (
 type Stmt struct {
 	*sql.Stmt
 	Transaction bool
+	prepared    chan struct{}
+	prepareErr  error
 }
 
 type PreparedStmtDB struct {
-	Stmts       map[string]Stmt
+	Stmts       map[string]*Stmt
 	PreparedSQL []string
 	Mux         *sync.RWMutex
 	ConnPool
@@ -46,18 +48,40 @@ func (db *PreparedStmtDB) prepare(ctx context.Context, conn ConnPool, isTransact
 	db.Mux.RLock()
 	if stmt, ok := db.Stmts[query]; ok && (!stmt.Transaction || isTransaction) {
 		db.Mux.RUnlock()
-		return stmt, nil
+		// wait for other goroutines prepared
+		<-stmt.prepared
+		if stmt.prepareErr != nil {
+			return Stmt{}, stmt.prepareErr
+		}
+
+		return *stmt, nil
 	}
 	db.Mux.RUnlock()
 
+	// cache preparing stmt first
+	db.Mux.Lock()
+	cacheStmt := Stmt{Transaction: isTransaction, prepared: make(chan struct{})}
+	db.Stmts[query] = &cacheStmt
+	db.Mux.Unlock()
+
+	// prepare completed
+	defer close(cacheStmt.prepared)
+
+	// Reason why cannot lock conn.PrepareContext (suppose the maxopen is 1).
+	// 1. g1 begin tx, now `db.ConnPool` db.numOpen == 1
+	// 2. g2 select lock `conn.PrepareContext(ctx, query)`, now db.numOpen == db.maxOpen , wait for release.
+	// 3. g1 tx exec insert, wait for unlock `conn.PrepareContext(ctx, query)` to finish tx and release.
 	stmt, err := conn.PrepareContext(ctx, query)
 	if err != nil {
+		cacheStmt.prepareErr = err
+		db.Mux.Lock()
+		delete(db.Stmts, query)
+		db.Mux.Unlock()
 		return Stmt{}, err
 	}
 
-	cacheStmt := Stmt{Stmt: stmt, Transaction: isTransaction}
 	db.Mux.Lock()
-	db.Stmts[query] = cacheStmt
+	cacheStmt.Stmt = stmt
 	db.PreparedSQL = append(db.PreparedSQL, query)
 	db.Mux.Unlock()
 
diff --git a/tests/prepared_stmt_test.go b/tests/prepared_stmt_test.go
index 637d8d1c..918bd2b7 100644
--- a/tests/prepared_stmt_test.go
+++ b/tests/prepared_stmt_test.go
@@ -112,4 +112,42 @@ func TestPreparedStmtDeadlock(t *testing.T) {
 		}()
 	}
 	wg.Wait()
+
+	conn, ok := tx.ConnPool.(*gorm.PreparedStmtDB)
+	AssertEqual(t, ok, true)
+	AssertEqual(t, len(conn.Stmts), 2)
+	for _, stmt := range conn.Stmts {
+		if stmt == nil {
+			t.Fatalf("stmt cannot bee nil")
+		}
+	}
+
+	AssertEqual(t, sqlDB.Stats().InUse, 0)
+}
+
+func TestPreparedStmtError(t *testing.T) {
+	tx, err := OpenTestConnection()
+	AssertEqual(t, err, nil)
+
+	sqlDB, _ := tx.DB()
+	sqlDB.SetMaxOpenConns(1)
+
+	tx = tx.Session(&gorm.Session{PrepareStmt: true})
+
+	wg := sync.WaitGroup{}
+	for i := 0; i < 10; i++ {
+		wg.Add(1)
+		go func() {
+			// err prepare
+			tag := Tag{Locale: "zh"}
+			tx.Table("users").Find(&tag)
+			wg.Done()
+		}()
+	}
+	wg.Wait()
+
+	conn, ok := tx.ConnPool.(*gorm.PreparedStmtDB)
+	AssertEqual(t, ok, true)
+	AssertEqual(t, len(conn.Stmts), 0)
+	AssertEqual(t, sqlDB.Stats().InUse, 0)
 }