diff --git a/notes/2.0.0/missing-file-error.md b/notes/2.0.0/missing-file-error.md
new file mode 100644
index 000000000..27baec1dc
--- /dev/null
+++ b/notes/2.0.0/missing-file-error.md
@@ -0,0 +1,17 @@
+### Clearer error when a referenced file does not exist
+
+If a file added to a task's inputs/outputs (e.g. `Compile / resources += file("nope.txt")`)
+does not exist, tasks such as `package` previously failed while hashing the task's cache
+key with an opaque `sjsonnew.SerializationException` that dumped the entire input list, with
+the real cause (`NoSuchFileException`) buried several `Caused by:` levels down. This was
+routinely mistaken for a corrupt cache.
+
+sbt now reports the missing file directly:
+
+```
+[error] file referenced by the build does not exist: nope.txt
+```
+
+This addresses [#9217][i9217].
+
+[i9217]: https://github.com/sbt/sbt/issues/9217
diff --git a/util-cache/src/main/scala/sbt/util/ActionCache.scala b/util-cache/src/main/scala/sbt/util/ActionCache.scala
index ed36ac63c..376ed87d9 100644
--- a/util-cache/src/main/scala/sbt/util/ActionCache.scala
+++ b/util-cache/src/main/scala/sbt/util/ActionCache.scala
@@ -10,10 +10,18 @@ package sbt.util
 
 import java.io.{ File, IOException, PrintWriter }
 import java.nio.charset.StandardCharsets
-import java.nio.file.{ AtomicMoveNotSupportedException, Files, Path, Paths, StandardCopyOption }
+import java.nio.file.{
+  AtomicMoveNotSupportedException,
+  Files,
+  NoSuchFileException,
+  Path,
+  Paths,
+  StandardCopyOption
+}
 import sbt.internal.util.{
   ActionCacheEvent,
   CacheEventLog,
+  MessageOnlyException,
   SpawnExec,
   SpawnInput,
   StringVirtualFile1
@@ -295,10 +303,20 @@ object ActionCache:
       extraHash: Digest,
       cacheVersion: Long,
   ): Digest =
+    // Hashing serializes every task input; surface a missing input file directly rather than as an
+    // opaque serialization failure that buries it.
+    val inputHash =
+      try Hasher.hashUnsafe[I](key)
+      catch
+        case NonFatal(t) =>
+          findMissingFile(t) match
+            case Some(path) =>
+              throw MessageOnlyException(s"file referenced by the build does not exist: $path")
+            case None => throw t
     Digest.sha256Hash(
       (Vector(
         codeContentHash,
-        Digest.dummy(Hasher.hashUnsafe[I](key)),
+        Digest.dummy(inputHash),
         extraHash
       ) ++ {
         if cacheVersion == 0 then Vector.empty
@@ -306,6 +324,13 @@ object ActionCache:
       })*
     )
 
+  /** Walks `t`'s cause chain for a `NoSuchFileException`, returning the missing file's path. */
+  private[sbt] def findMissingFile(t: Throwable): Option[String] =
+    t match
+      case null                   => None
+      case e: NoSuchFileException => Option(e.getFile)
+      case _                      => findMissingFile(t.getCause)
+
   private inline def mkValuePath(inputDigest: Digest): String =
     s"$${OUT}/value/${inputDigest}.json"
 
diff --git a/util-cache/src/test/scala/sbt/util/ActionCacheTest.scala b/util-cache/src/test/scala/sbt/util/ActionCacheTest.scala
index 06bb870b2..5978aeee5 100644
--- a/util-cache/src/test/scala/sbt/util/ActionCacheTest.scala
+++ b/util-cache/src/test/scala/sbt/util/ActionCacheTest.scala
@@ -2,7 +2,7 @@ package sbt.util
 
 import java.io.{ IOException, InputStream }
 import java.nio.charset.StandardCharsets
-import java.nio.file.{ Files, Path, Paths }
+import java.nio.file.{ Files, NoSuchFileException, Path, Paths }
 import java.util.Optional
 import java.util.concurrent.{ CyclicBarrier, ExecutorService, Executors, TimeUnit }
 
@@ -27,6 +27,20 @@ import ActionCache.InternalActionResult
 object ActionCacheTest extends BasicTestSuite:
   val tags = CacheLevelTag.all.toList
 
+  test("findMissingFile extracts the path from a wrapped NoSuchFileException"):
+    val chain = new RuntimeException(
+      "error while writing LList",
+      new RuntimeException(
+        "error while writing the field sources",
+        new NoSuchFileException("not-exists.txt")
+      )
+    )
+    assert(ActionCache.findMissingFile(chain) == Some("not-exists.txt"))
+
+  test("findMissingFile returns None when no file is missing"):
+    val chain = new RuntimeException("boom", new IllegalStateException("unrelated"))
+    assert(ActionCache.findMissingFile(chain) == None)
+
   test("Disk cache can hold a blob"):
     withDiskCache(testHoldBlob)