diff --git a/.changes/v1.15/BUG FIXES-20260603-172507.yaml b/.changes/v1.15/BUG FIXES-20260603-172507.yaml
new file mode 100644
index 0000000000..c8487e4044
--- /dev/null
+++ b/.changes/v1.15/BUG FIXES-20260603-172507.yaml	
@@ -0,0 +1,5 @@
+kind: BUG FIXES
+body: 'console: Fixed a panic caused by evaluating an expression involving deprecated values'
+time: 2026-06-03T17:25:07.111161+01:00
+custom:
+    Issue: "38676"
diff --git a/internal/repl/format.go b/internal/repl/format.go
index fd0bc4b20e..3f33352e1c 100644
--- a/internal/repl/format.go
+++ b/internal/repl/format.go
@@ -20,12 +20,21 @@ func FormatValue(v cty.Value, indent int) string {
 	if !v.IsKnown() {
 		return "(known after apply)"
 	}
+
+	// Any marks on the value must either be used to return
+	// early or be removed. In future marks may used to cause
+	// values to be annotated, but the mark will still need to be
+	// removed before we can get a string representation of the value.
 	if marks.Has(v, marks.Sensitive) {
 		return "(sensitive value)"
 	}
 	if marks.Has(v, marks.Ephemeral) {
 		return "(ephemeral value)"
 	}
+	if marks.Has(v, marks.Deprecation) {
+		// Mark doesn't impact formatting, so remove to unblock normal formatting below
+		v, _ = v.Unmark()
+	}
 	if v.IsNull() {
 		ty := v.Type()
 		switch {
diff --git a/internal/repl/format_test.go b/internal/repl/format_test.go
index 9e6e4c9b9f..89d40d1a23 100644
--- a/internal/repl/format_test.go
+++ b/internal/repl/format_test.go
@@ -181,6 +181,10 @@ EOT_`,
 			cty.StringVal("an ephemeral value").Mark(marks.Ephemeral),
 			"(ephemeral value)",
 		},
+		{
+			cty.StringVal("I'm a deprecated string value").Mark(marks.Deprecation),
+			`"I'm a deprecated string value"`, // We don't render deprecated values differently, but we need to ensure the deprecation mark doesn't interfere with formatting
+		},
 	}
 
 	for _, test := range tests {