diff --git a/homeassistant/components/mqtt/client.py b/homeassistant/components/mqtt/client.py
index 3bd08403b78..e8eabe887f2 100644
--- a/homeassistant/components/mqtt/client.py
+++ b/homeassistant/components/mqtt/client.py
@@ -376,6 +376,11 @@ class MQTT:
 
         self._simple_subscriptions: dict[str, list[Subscription]] = {}
         self._wildcard_subscriptions: list[Subscription] = []
+        # _retained_topics prevents a Subscription from receiving a
+        # retained message more than once per topic. This prevents flooding
+        # already active subscribers when new subscribers subscribe to a topic
+        # which has subscribed messages.
+        self._retained_topics: dict[Subscription, set[str]] = {}
         self.connected = False
         self._ha_started = asyncio.Event()
         self._cleanup_on_unload: list[Callable[[], None]] = []
@@ -618,6 +623,8 @@ class MQTT:
             """Remove subscription."""
             self._async_untrack_subscription(subscription)
             self._matching_subscriptions.cache_clear()
+            if subscription in self._retained_topics:
+                del self._retained_topics[subscription]
             # Only unsubscribe if currently connected
             if self.connected:
                 self._async_unsubscribe(topic)
@@ -637,7 +644,7 @@ class MQTT:
         if topic in self._max_qos:
             del self._max_qos[topic]
         if topic in self._pending_subscriptions:
-            # avoid any pending subscription to be executed
+            # Avoid any pending subscription to be executed
             del self._pending_subscriptions[topic]
 
         self._pending_unsubscribes.add(topic)
@@ -754,8 +761,9 @@ class MQTT:
 
     async def _async_resubscribe(self) -> None:
         """Resubscribe on reconnect."""
-        # Group subscriptions to only re-subscribe once for each topic.
         self._max_qos.clear()
+        self._retained_topics.clear()
+        # Group subscriptions to only re-subscribe once for each topic.
         keyfunc = attrgetter("topic")
         self._async_queue_subscriptions(
             [
@@ -799,6 +807,14 @@ class MQTT:
         subscriptions = self._matching_subscriptions(msg.topic)
 
         for subscription in subscriptions:
+            if msg.retain:
+                retained_topics = self._retained_topics.setdefault(subscription, set())
+                # Skip if the subscription already received a retained message
+                if msg.topic in retained_topics:
+                    continue
+                # Remember the subscription had an initial retained message
+                self._retained_topics[subscription].add(msg.topic)
+
             payload: SubscribePayloadType = msg.payload
             if subscription.encoding is not None:
                 try:
diff --git a/tests/components/mqtt/test_init.py b/tests/components/mqtt/test_init.py
index 5494b24c398..fa8d2e42dda 100644
--- a/tests/components/mqtt/test_init.py
+++ b/tests/components/mqtt/test_init.py
@@ -114,6 +114,26 @@ def record_calls(calls: list[ReceiveMessage]) -> MessageCallbackType:
     return record_calls
 
 
+def help_assert_message(
+    msg: ReceiveMessage,
+    topic: str | None = None,
+    payload: str | None = None,
+    qos: int | None = None,
+    retain: bool | None = None,
+) -> bool:
+    """Return True if all of the given attributes match with the message."""
+    match: bool = True
+    if topic is not None:
+        match &= msg.topic == topic
+    if payload is not None:
+        match &= msg.payload == payload
+    if qos is not None:
+        match &= msg.qos == qos
+    if retain is not None:
+        match &= msg.retain == retain
+    return match
+
+
 async def test_mqtt_connects_on_home_assistant_mqtt_setup(
     hass: HomeAssistant,
     mqtt_client_mock: MqttMockPahoClient,
@@ -1272,9 +1292,8 @@ async def test_subscribe_same_topic(
         calls_b.append(msg)
 
     await mqtt.async_subscribe(hass, "test/state", _callback_a, qos=0)
-    async_fire_mqtt_message(
-        hass, "test/state", "online"
-    )  # Simulate a (retained) message replaying
+    # Simulate a non retained message after the first subscription
+    async_fire_mqtt_message(hass, "test/state", "online", qos=0, retain=False)
     async_fire_time_changed(hass, utcnow() + timedelta(seconds=1))
     await hass.async_block_till_done()
     assert len(calls_a) == 1
@@ -1285,18 +1304,271 @@ async def test_subscribe_same_topic(
     async_fire_time_changed(hass, utcnow() + timedelta(seconds=3))
     await hass.async_block_till_done()
     await mqtt.async_subscribe(hass, "test/state", _callback_b, qos=1)
-    async_fire_mqtt_message(
-        hass, "test/state", "online"
-    )  # Simulate a (retained) message replaying
+    # Simulate an other non retained message after the second subscription
+    async_fire_mqtt_message(hass, "test/state", "online", qos=0, retain=False)
     async_fire_time_changed(hass, utcnow() + timedelta(seconds=1))
     await hass.async_block_till_done()
     async_fire_time_changed(hass, utcnow() + timedelta(seconds=1))
     await hass.async_block_till_done()
+    # Both subscriptions should receive updates
     assert len(calls_a) == 1
     assert len(calls_b) == 1
     mqtt_client_mock.subscribe.assert_called()
 
 
+@patch("homeassistant.components.mqtt.client.INITIAL_SUBSCRIBE_COOLDOWN", 0.0)
+@patch("homeassistant.components.mqtt.client.DISCOVERY_COOLDOWN", 0.0)
+@patch("homeassistant.components.mqtt.client.SUBSCRIBE_COOLDOWN", 0.0)
+async def test_replaying_payload_same_topic(
+    hass: HomeAssistant,
+    mqtt_client_mock: MqttMockPahoClient,
+    mqtt_mock_entry: MqttMockHAClientGenerator,
+) -> None:
+    """Test replaying retained messages.
+
+    When subscribing to the same topic again, SUBSCRIBE must be sent to the broker again
+    for it to resend any retained messages for new subscriptions.
+    Retained messages must only be replayed for new subscriptions, except
+    when the MQTT client is reconnecting.
+    """
+    mqtt_mock = await mqtt_mock_entry()
+
+    # Fake that the client is connected
+    mqtt_mock().connected = True
+
+    calls_a: list[ReceiveMessage] = []
+    calls_b: list[ReceiveMessage] = []
+
+    def _callback_a(msg: ReceiveMessage) -> None:
+        calls_a.append(msg)
+
+    def _callback_b(msg: ReceiveMessage) -> None:
+        calls_b.append(msg)
+
+    await mqtt.async_subscribe(hass, "test/state", _callback_a)
+    async_fire_mqtt_message(
+        hass, "test/state", "online", qos=0, retain=True
+    )  # Simulate a (retained) message played back
+    await hass.async_block_till_done()
+    assert len(calls_a) == 1
+    mqtt_client_mock.subscribe.assert_called()
+    calls_a = []
+    mqtt_client_mock.reset_mock()
+
+    await mqtt.async_subscribe(hass, "test/state", _callback_b)
+
+    # Simulate edge case where non retained message was received
+    # after subscription at HA but before the debouncer delay was passed.
+    # The message without retain flag directly after a subscription should
+    # be processed by both subscriptions.
+    async_fire_mqtt_message(hass, "test/state", "online", qos=0, retain=False)
+
+    # Simulate a (retained) message played back on new subscriptions
+    async_fire_mqtt_message(hass, "test/state", "online", qos=0, retain=True)
+
+    # Make sure the debouncer delay was passed
+    await hass.async_block_till_done()
+    async_fire_time_changed(hass, utcnow() + timedelta(seconds=3))
+    await hass.async_block_till_done()
+
+    # The current subscription only received the message without retain flag
+    assert len(calls_a) == 1
+    assert help_assert_message(calls_a[0], "test/state", "online", qos=0, retain=False)
+    # The retained message playback should only be processed by the new subscription.
+    # The existing subscription already got the latest update, hence the existing
+    # subscription should not receive the replayed (retained) message.
+    # Messages without retain flag are received on both subscriptions.
+    assert len(calls_b) == 2
+    assert help_assert_message(calls_b[0], "test/state", "online", qos=0, retain=False)
+    assert help_assert_message(calls_b[1], "test/state", "online", qos=0, retain=True)
+    mqtt_client_mock.subscribe.assert_called()
+
+    calls_a = []
+    calls_b = []
+    mqtt_client_mock.reset_mock()
+
+    # Simulate new message played back on new subscriptions
+    # After connecting the retain flag will not be set, even if the
+    # payload published was retained, we cannot see that
+    async_fire_mqtt_message(hass, "test/state", "online", qos=0, retain=False)
+    await hass.async_block_till_done()
+    async_fire_time_changed(hass, utcnow() + timedelta(seconds=3))
+    await hass.async_block_till_done()
+    assert len(calls_a) == 1
+    assert help_assert_message(calls_a[0], "test/state", "online", qos=0, retain=False)
+    assert len(calls_b) == 1
+    assert help_assert_message(calls_b[0], "test/state", "online", qos=0, retain=False)
+
+    # Now simulate the broker was disconnected shortly
+    calls_a = []
+    calls_b = []
+    mqtt_client_mock.reset_mock()
+    mqtt_client_mock.on_disconnect(None, None, 0)
+    mqtt_client_mock.on_connect(None, None, None, 0)
+    await hass.async_block_till_done()
+    mqtt_client_mock.subscribe.assert_called()
+    # Simulate a (retained) message played back after reconnecting
+    async_fire_mqtt_message(hass, "test/state", "online", qos=0, retain=True)
+    await hass.async_block_till_done()
+    async_fire_time_changed(hass, utcnow() + timedelta(seconds=3))
+    await hass.async_block_till_done()
+    # Both subscriptions now should replay the retained message
+    assert len(calls_a) == 1
+    assert help_assert_message(calls_a[0], "test/state", "online", qos=0, retain=True)
+    assert len(calls_b) == 1
+    assert help_assert_message(calls_b[0], "test/state", "online", qos=0, retain=True)
+
+
+@patch("homeassistant.components.mqtt.client.INITIAL_SUBSCRIBE_COOLDOWN", 0.0)
+@patch("homeassistant.components.mqtt.client.DISCOVERY_COOLDOWN", 0.0)
+@patch("homeassistant.components.mqtt.client.SUBSCRIBE_COOLDOWN", 0.0)
+async def test_replaying_payload_after_resubscribing(
+    hass: HomeAssistant,
+    mqtt_client_mock: MqttMockPahoClient,
+    mqtt_mock_entry: MqttMockHAClientGenerator,
+) -> None:
+    """Test replaying and filtering retained messages after resubscribing.
+
+    When subscribing to the same topic again, SUBSCRIBE must be sent to the broker again
+    for it to resend any retained messages for new subscriptions.
+    Retained messages must only be replayed for new subscriptions, except
+    when the MQTT client is reconnection.
+    """
+    mqtt_mock = await mqtt_mock_entry()
+
+    # Fake that the client is connected
+    mqtt_mock().connected = True
+
+    calls_a: list[ReceiveMessage] = []
+
+    def _callback_a(msg: ReceiveMessage) -> None:
+        calls_a.append(msg)
+
+    unsub = await mqtt.async_subscribe(hass, "test/state", _callback_a)
+    await hass.async_block_till_done()
+    async_fire_time_changed(hass, utcnow() + timedelta(seconds=3))
+    await hass.async_block_till_done()
+    mqtt_client_mock.subscribe.assert_called()
+
+    # Simulate a (retained) message played back
+    async_fire_mqtt_message(hass, "test/state", "online", qos=0, retain=True)
+    await hass.async_block_till_done()
+    assert help_assert_message(calls_a[0], "test/state", "online", qos=0, retain=True)
+    calls_a.clear()
+
+    # Test we get updates
+    async_fire_mqtt_message(hass, "test/state", "offline", qos=0, retain=False)
+    await hass.async_block_till_done()
+    assert help_assert_message(calls_a[0], "test/state", "offline", qos=0, retain=False)
+    calls_a.clear()
+
+    # Test we filter new retained updates
+    async_fire_mqtt_message(hass, "test/state", "offline", qos=0, retain=True)
+    await hass.async_block_till_done()
+    assert len(calls_a) == 0
+
+    # Unsubscribe an resubscribe again
+    unsub()
+    unsub = await mqtt.async_subscribe(hass, "test/state", _callback_a)
+    await hass.async_block_till_done()
+    async_fire_time_changed(hass, utcnow() + timedelta(seconds=3))
+    await hass.async_block_till_done()
+    mqtt_client_mock.subscribe.assert_called()
+
+    # Simulate we can receive a (retained) played back message again
+    async_fire_mqtt_message(hass, "test/state", "online", qos=0, retain=True)
+    await hass.async_block_till_done()
+    assert help_assert_message(calls_a[0], "test/state", "online", qos=0, retain=True)
+
+
+@patch("homeassistant.components.mqtt.client.INITIAL_SUBSCRIBE_COOLDOWN", 0.0)
+@patch("homeassistant.components.mqtt.client.DISCOVERY_COOLDOWN", 0.0)
+@patch("homeassistant.components.mqtt.client.SUBSCRIBE_COOLDOWN", 0.0)
+async def test_replaying_payload_wildcard_topic(
+    hass: HomeAssistant,
+    mqtt_client_mock: MqttMockPahoClient,
+    mqtt_mock_entry: MqttMockHAClientGenerator,
+) -> None:
+    """Test replaying retained messages.
+
+    When we have multiple subscriptions to the same wildcard topic,
+    SUBSCRIBE must be sent to the broker again
+    for it to resend any retained messages for new subscriptions.
+    Retained messages should only be replayed for new subscriptions, except
+    when the MQTT client is reconnection.
+    """
+    mqtt_mock = await mqtt_mock_entry()
+
+    # Fake that the client is connected
+    mqtt_mock().connected = True
+
+    calls_a: list[ReceiveMessage] = []
+    calls_b: list[ReceiveMessage] = []
+
+    def _callback_a(msg: ReceiveMessage) -> None:
+        calls_a.append(msg)
+
+    def _callback_b(msg: ReceiveMessage) -> None:
+        calls_b.append(msg)
+
+    await mqtt.async_subscribe(hass, "test/#", _callback_a)
+    # Simulate (retained) messages being played back on new subscriptions
+    async_fire_mqtt_message(hass, "test/state1", "new_value_1", qos=0, retain=True)
+    async_fire_mqtt_message(hass, "test/state2", "new_value_2", qos=0, retain=True)
+    await hass.async_block_till_done()
+    async_fire_time_changed(hass, utcnow() + timedelta(seconds=3))  # cooldown
+    await hass.async_block_till_done()
+    assert len(calls_a) == 2
+    mqtt_client_mock.subscribe.assert_called()
+    calls_a = []
+    mqtt_client_mock.reset_mock()
+
+    # resubscribe to the wild card topic again
+    await mqtt.async_subscribe(hass, "test/#", _callback_b)
+    # Simulate (retained) messages being played back on new subscriptions
+    async_fire_mqtt_message(hass, "test/state1", "initial_value_1", qos=0, retain=True)
+    async_fire_mqtt_message(hass, "test/state2", "initial_value_2", qos=0, retain=True)
+    await hass.async_block_till_done()
+    async_fire_time_changed(hass, utcnow() + timedelta(seconds=3))  # cooldown
+    await hass.async_block_till_done()
+    # The retained messages playback should only be processed for the new subscriptions
+    assert len(calls_a) == 0
+    assert len(calls_b) == 2
+    mqtt_client_mock.subscribe.assert_called()
+
+    calls_a = []
+    calls_b = []
+    mqtt_client_mock.reset_mock()
+
+    # Simulate new messages being received
+    async_fire_mqtt_message(hass, "test/state1", "update_value_1", qos=0, retain=False)
+    async_fire_mqtt_message(hass, "test/state2", "update_value_2", qos=0, retain=False)
+    await hass.async_block_till_done()
+    assert len(calls_a) == 2
+    assert len(calls_b) == 2
+
+    # Now simulate the broker was disconnected shortly
+    calls_a = []
+    calls_b = []
+    mqtt_client_mock.reset_mock()
+    mqtt_client_mock.on_disconnect(None, None, 0)
+    mqtt_client_mock.on_connect(None, None, None, 0)
+    await hass.async_block_till_done()
+    async_fire_time_changed(hass, utcnow() + timedelta(seconds=3))  # cooldown
+    await hass.async_block_till_done()
+    mqtt_client_mock.subscribe.assert_called()
+    # Simulate the (retained) messages are played back after reconnecting
+    # for all subscriptions
+    async_fire_mqtt_message(hass, "test/state1", "update_value_1", qos=0, retain=True)
+    async_fire_mqtt_message(hass, "test/state2", "update_value_2", qos=0, retain=True)
+    await hass.async_block_till_done()
+    async_fire_time_changed(hass, utcnow() + timedelta(seconds=3))  # cooldown
+    await hass.async_block_till_done()
+    # Both subscriptions should replay
+    assert len(calls_a) == 2
+    assert len(calls_b) == 2
+
+
 @patch("homeassistant.components.mqtt.client.INITIAL_SUBSCRIBE_COOLDOWN", 0.0)
 @patch("homeassistant.components.mqtt.client.DISCOVERY_COOLDOWN", 0.0)
 @patch("homeassistant.components.mqtt.client.SUBSCRIBE_COOLDOWN", 0.0)
@@ -3032,33 +3304,62 @@ async def test_debug_info_qos_retain(
     start_dt = datetime(2019, 1, 1, 0, 0, 0)
     with patch("homeassistant.util.dt.utcnow") as dt_utcnow:
         dt_utcnow.return_value = start_dt
+        # simulate the first message was replayed from the broker with retained flag
+        async_fire_mqtt_message(hass, "sensor/abc", "123", qos=0, retain=True)
+        # simulate an update message
         async_fire_mqtt_message(hass, "sensor/abc", "123", qos=0, retain=False)
+        # simpulate someone else subscribed and retained messages were replayed
         async_fire_mqtt_message(hass, "sensor/abc", "123", qos=1, retain=True)
+        # simulate an update message
+        async_fire_mqtt_message(hass, "sensor/abc", "123", qos=1, retain=False)
+        # simulate an update message
         async_fire_mqtt_message(hass, "sensor/abc", "123", qos=2, retain=False)
 
     debug_info_data = debug_info.info_for_device(hass, device.id)
     assert len(debug_info_data["entities"][0]["subscriptions"]) == 1
+    # The replayed retained payload was processed
+    messages = debug_info_data["entities"][0]["subscriptions"][0]["messages"]
+    assert {
+        "payload": "123",
+        "qos": 0,
+        "retain": True,
+        "time": start_dt,
+        "topic": "sensor/abc",
+    } in messages
+    # The not retained update was processed normally
     assert {
         "payload": "123",
         "qos": 0,
         "retain": False,
         "time": start_dt,
         "topic": "sensor/abc",
-    } in debug_info_data["entities"][0]["subscriptions"][0]["messages"]
+    } in messages
+    # Since the MQTT client has not lost the connection and has not resubscribed
+    # The retained payload is not replayed and filtered out as it already
+    # received a value and appears to be received on an existing subscription
     assert {
         "payload": "123",
         "qos": 1,
         "retain": True,
         "time": start_dt,
         "topic": "sensor/abc",
-    } in debug_info_data["entities"][0]["subscriptions"][0]["messages"]
+    } not in messages
+    # The not retained update was processed normally
+    assert {
+        "payload": "123",
+        "qos": 1,
+        "retain": False,
+        "time": start_dt,
+        "topic": "sensor/abc",
+    } in messages
+    # The not retained update was processed normally
     assert {
         "payload": "123",
         "qos": 2,
         "retain": False,
         "time": start_dt,
         "topic": "sensor/abc",
-    } in debug_info_data["entities"][0]["subscriptions"][0]["messages"]
+    } in messages
 
 
 async def test_publish_json_from_template(