diff --git a/lib/internal/fs/cp/cp.js b/lib/internal/fs/cp/cp.js
index f59bbdb1e59..f5add19e4eb 100644
--- a/lib/internal/fs/cp/cp.js
+++ b/lib/internal/fs/cp/cp.js
@@ -306,7 +306,14 @@ function onDir(srcStat, destStat, src, dest, opts) {
 }
 
 async function mkDirAndCopy(srcMode, src, dest, opts) {
-  await mkdir(dest);
+  try {
+    await mkdir(dest);
+  } catch (error) {
+    // If the folder already exists, skip it.
+    if (error.code === 'EEXIST' && !opts.errorOnExist); else
+      throw error;
+  }
+
   await copyDir(src, dest, opts);
   return setDestMode(dest, srcMode);
 }
diff --git a/test/parallel/test-fs-cp.mjs b/test/parallel/test-fs-cp.mjs
index 63bc813ae22..afe512fd424 100644
--- a/test/parallel/test-fs-cp.mjs
+++ b/test/parallel/test-fs-cp.mjs
@@ -933,6 +933,38 @@ if (!isWindows) {
   );
 }
 
+// It can ignore EEXIST error when the destination folder has been created by other file operations in parallel (#53534)
+{
+  const src = './test/fixtures/copy/kitchen-sink';
+  const dest = nextdir();
+
+  await Promise.all([
+    fs.promises.cp(src, dest, {
+      recursive: true,
+      errorOnExist: false
+    }),
+
+    fs.promises.mkdir(dest, { recursive: true }),
+  ]);
+
+  assertDirEquivalent(src, dest);
+
+  const dest2 = nextdir();
+
+  await assert.rejects(
+    async () =>
+      Promise.all([
+        fs.promises.cp(src, dest2, {
+          recursive: true,
+          errorOnExist: true
+        }),
+
+        fs.promises.mkdir(dest2, { recursive: true }),
+      ]),
+    { code: 'EEXIST' }
+  );
+}
+
 // It rejects if options is not object.
 {
   await assert.rejects(