diff --git a/build-common/src/org/jetbrains/kotlin/incremental/KotlinClassInfo.kt b/build-common/src/org/jetbrains/kotlin/incremental/KotlinClassInfo.kt
index 746300b280af5..f21f8c40f4814 100644
--- a/build-common/src/org/jetbrains/kotlin/incremental/KotlinClassInfo.kt
+++ b/build-common/src/org/jetbrains/kotlin/incremental/KotlinClassInfo.kt
@@ -180,7 +180,7 @@ private fun getExtraInfo(classHeader: KotlinClassHeader, classContents: ByteArra
 
     val constantSnapshots: Map<String, Long> = classNode.fields.associate { fieldNode ->
         // Note: `fieldNode` is a constant because we kept only fields that are (non-private) constants in `classNode`
-        fieldNode.name to (fieldNode.value?.let { ConstantValueExternalizer.toByteArray(it).hashToLong() } ?: 0L)
+        fieldNode.name to ConstantValueExternalizer.toByteArray(fieldNode.value!!).hashToLong()
     }
 
     val inlineFunctionOrAccessorSnapshots: Map<InlineFunctionOrAccessor, Long> = classNode.methods.associate { methodNode ->
@@ -210,7 +210,11 @@ class SelectiveClassVisitor(
 ) : ClassVisitor(Opcodes.API_VERSION, cv) {
 
     override fun visitField(access: Int, name: String, desc: String, signature: String?, value: Any?): FieldVisitor? {
-        return if (shouldVisitField(JvmMemberSignature.Field(name, desc), access.isPrivate(), access.isStaticFinal())) {
+        // Note: A constant's value must be not-null. A static final field with a `null` value at the bytecode declaration is not a constant
+        // (whether the value is initialized later in the static initializer or not, it won't be inlined by the compiler).
+        val isConstant = access.isStaticFinal() && value != null
+
+        return if (shouldVisitField(JvmMemberSignature.Field(name, desc), access.isPrivate(), isConstant)) {
             cv.visitField(access, name, desc, signature, value)
         } else null
     }
diff --git a/compiler/incremental-compilation-impl/test/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest.kt b/compiler/incremental-compilation-impl/test/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest.kt
index 7918ee5baf4d6..ac8a9c5c859d7 100644
--- a/compiler/incremental-compilation-impl/test/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest.kt
+++ b/compiler/incremental-compilation-impl/test/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest.kt
@@ -290,6 +290,19 @@ class KotlinOnlyClasspathChangesComputerTest : ClasspathChangesComputerTest() {
         ).assertEquals(changes)
     }
 
+    /** Regression test for KT-58986.*/
+    @Test
+    fun testDelegatedProperties() {
+        // Check that classpath changes computation doesn't fail
+        val changes = computeClasspathChanges(File(testDataDir, "KotlinOnly/testDelegatedProperties/src"), tmpDir)
+        Changes(
+            lookupSymbols = setOf(
+                LookupSymbol(name = "delegatedProperty", scope = "com.example"),
+            ),
+            fqNames = setOf("com.example")
+        ).assertEquals(changes)
+    }
+
     /** Tests [SupertypesInheritorsImpact]. */
     @Test
     override fun testImpactComputation_SupertypesInheritors() {
diff --git a/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/classes/current-classpath/com/example/Delegate.class b/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/classes/current-classpath/com/example/Delegate.class
new file mode 100644
index 0000000000000..56e95dc0b03a6
Binary files /dev/null and b/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/classes/current-classpath/com/example/Delegate.class differ
diff --git a/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/classes/current-classpath/com/example/FileFacadeKt.class b/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/classes/current-classpath/com/example/FileFacadeKt.class
new file mode 100644
index 0000000000000..861a3ff0d4e24
Binary files /dev/null and b/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/classes/current-classpath/com/example/FileFacadeKt.class differ
diff --git a/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/classes/previous-classpath/com/example/Delegate.class b/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/classes/previous-classpath/com/example/Delegate.class
new file mode 100644
index 0000000000000..e4f0529c480d7
Binary files /dev/null and b/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/classes/previous-classpath/com/example/Delegate.class differ
diff --git a/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/src/current-classpath/com/example/FileFacade.kt b/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/src/current-classpath/com/example/FileFacade.kt
new file mode 100644
index 0000000000000..693405e9dfd20
--- /dev/null
+++ b/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/src/current-classpath/com/example/FileFacade.kt
@@ -0,0 +1,15 @@
+package com.example
+
+import kotlin.reflect.KProperty
+
+var delegatedProperty: String by Delegate() // Added
+
+class Delegate {
+
+    operator fun getValue(thisRef: Any?, property: KProperty<*>): String {
+        return "<Delegated>"
+    }
+
+    operator fun setValue(thisRef: Any?, property: KProperty<*>, value: String) {
+    }
+}
\ No newline at end of file
diff --git a/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/src/previous-classpath/com/example/FileFacade.kt b/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/src/previous-classpath/com/example/FileFacade.kt
new file mode 100644
index 0000000000000..f5ec705b72ae3
--- /dev/null
+++ b/compiler/incremental-compilation-impl/testData/org/jetbrains/kotlin/incremental/classpathDiff/ClasspathChangesComputerTest/KotlinOnly/testDelegatedProperties/src/previous-classpath/com/example/FileFacade.kt
@@ -0,0 +1,13 @@
+package com.example
+
+import kotlin.reflect.KProperty
+
+class Delegate {
+
+    operator fun getValue(thisRef: Any?, property: KProperty<*>): String {
+        return "<Delegated>"
+    }
+
+    operator fun setValue(thisRef: Any?, property: KProperty<*>, value: String) {
+    }
+}
\ No newline at end of file