diff --git a/peep.c b/peep.c
index e9de45eb0a68..032fbbfc0728 100644
--- a/peep.c
+++ b/peep.c
@@ -3869,7 +3869,7 @@ Perl_rpeep(pTHX_ OP *o)
             break;
 
         case OP_SUBSTR: {
-            OP *expr, *offs, *len;
+            OP *expr, *offs, *len, *repl = NULL;
             /* Specialize substr($x, 0, $y) and substr($x,0,$y,"") */
             /* Does this substr have 3-4 args and amiable flags? */
             if (
@@ -3897,7 +3897,7 @@ Perl_rpeep(pTHX_ OP *o)
 
                 if (cMAXARG3x(o) == 4) {/* replacement */
                     /* Is the replacement string CONST ""? */
-                    OP *repl = OpSIBLING(len);
+                    repl = OpSIBLING(len);
                     if (repl->op_type != OP_CONST)
                         break;
                     SV *repl_sv = cSVOPx_sv(repl);
@@ -3908,12 +3908,10 @@ Perl_rpeep(pTHX_ OP *o)
                 break;
             }
             /* It's on! */
-            /* Take out the static LENGTH & REPLACMENT OPs */
+            /* Take out the static LENGTH OP.  */
             /* (The finalizer does not seem to change op_next here) */
             expr->op_next = offs->op_next;
             o->op_private = cMAXARG3x(o);
-            if (cMAXARG3x(o) == 4)
-                len->op_next = o;
 
             /* We have a problem if padrange pushes the expr OP for us,
              * then jumps straight to the offs CONST OP. For example:
@@ -3924,7 +3922,14 @@ Perl_rpeep(pTHX_ OP *o)
               * B::Deparse. :/  */
             op_null(offs);
 
-            /* repl status unchanged because it makes Deparsing easier. */
+            /* There can be multiple pointers to repl, see GH #22914.
+             *    substr $x, 0, $y ? 2 : 3, "";
+             * So instead of rewriting all of len, null out repl. */
+            if (repl) {
+                op_null(repl);
+                /* We can still rewrite the simple len case though.*/
+                len->op_next = o;
+            }
 
             /* Upgrade the SUBSTR to a SUBSTR_LEFT */
             OpTYPE_set(o, OP_SUBSTR_LEFT);
diff --git a/t/op/substr_left.t b/t/op/substr_left.t
index a9e37037fc0e..72a18332de0a 100644
--- a/t/op/substr_left.t
+++ b/t/op/substr_left.t
@@ -104,5 +104,12 @@ $str = "\x00\x01\x02\x03\x04\x05";
 $result = substr($str, 0, 3, "");
 is($result, "\x00\x01\x02", 'hex EXPR: returns correct characters');
 is($str, "\x03\x04\x05", 'hex EXPR: retains correct characters');
+# GH #22914. LEN has more than one pointer to REPL.
+$str = "perl";
+# Hopefully $INC[0] ne '/dev/random' is a reasonable test assumption...
+# (We need a condition that no future clever optimiser will strip)
+$result = substr($str, 0, $INC[0] eq '/dev/random' ? 2: 3, '');
+is($result, 'per', 'GH#22914: non-trivial LEN returns correct characters');
+is($str, 'l', 'GH#22914: non-trivial LEN retains correct characters');
 
 done_testing();
diff --git a/t/perf/opcount.t b/t/perf/opcount.t
index 0cac902a95fb..8695e162d16e 100644
--- a/t/perf/opcount.t
+++ b/t/perf/opcount.t
@@ -1034,7 +1034,7 @@ test_opcount(0, "substr with const zero offset and '' repl (void)",
                 {
                     substr       => 0,
                     substr_left  => 1,
-                    const        => 2,
+                    const        => 1,
                 });
 
 test_opcount(0, "substr with const zero offset and '' repl (lexical)",
@@ -1042,7 +1042,7 @@ test_opcount(0, "substr with const zero offset and '' repl (lexical)",
                 {
                     substr       => 0,
                     substr_left  => 1,
-                    const        => 2,
+                    const        => 1,
                     padsv        => 3,
                     sassign      => 1
                 });
@@ -1052,7 +1052,7 @@ test_opcount(0, "substr with const zero offset and '' repl (lexical TARGMY)",
                 {
                     substr       => 0,
                     substr_left  => 1,
-                    const        => 2,
+                    const        => 1,
                     padsv        => 3,
                     padsv_store  => 0,
                     sassign      => 0
@@ -1063,7 +1063,7 @@ test_opcount(0, "substr with const zero offset and '' repl (gv)",
                 {
                     substr       => 0,
                     substr_left  => 1,
-                    const        => 2,
+                    const        => 1,
                     gvsv         => 1,
                     sassign      => 1
                 });