diff --git a/include/chaiscript/dispatchkit/function_call_detail.hpp b/include/chaiscript/dispatchkit/function_call_detail.hpp
index f67a5a00..8bc2f366 100644
--- a/include/chaiscript/dispatchkit/function_call_detail.hpp
+++ b/include/chaiscript/dispatchkit/function_call_detail.hpp
@@ -55,10 +55,23 @@ namespace chaiscript::dispatch::detail {
       }
     }
 
+    template<typename T>
+    struct is_shared_ptr : std::false_type {};
+
+    template<typename T>
+    struct is_shared_ptr<std::shared_ptr<T>> : std::true_type {};
+
     template<typename P, typename Q>
     static Boxed_Value box(Q &&q) {
+      using bare_p = std::remove_cv_t<std::remove_reference_t<P>>;
       if constexpr (std::is_same_v<chaiscript::Boxed_Value, std::decay_t<Q>>) {
         return std::forward<Q>(q);
+      } else if constexpr (is_shared_ptr<bare_p>::value) {
+        // Pass shared_ptr arguments through by value rather than wrapping a
+        // reference. Boxed_Value's shared_ptr-aware overloads then record the
+        // bare type as the pointee, allowing dispatch to a C++ function that
+        // takes the same shared_ptr<T> on the other side.
+        return Boxed_Value(bare_p(std::forward<Q>(q)));
       } else if constexpr (std::is_reference_v<P>) {
         return Boxed_Value(std::ref(std::forward<Q>(q)));
       } else {
diff --git a/unittests/compiled_tests.cpp b/unittests/compiled_tests.cpp
index 844be6e9..65fd4b6e 100644
--- a/unittests/compiled_tests.cpp
+++ b/unittests/compiled_tests.cpp
@@ -354,6 +354,29 @@ TEST_CASE("Functor cast") {
   CHECK(d == 3 * 6);
 }
 
+namespace {
+  int shared_ptr_callback_observed_value = 0;
+
+  void shared_ptr_callback_accept(const std::shared_ptr<int> &ptr) { shared_ptr_callback_observed_value = ptr ? *ptr : 0; }
+
+  void shared_ptr_callback_call(const std::function<void(const std::shared_ptr<int> &)> &func) { func(std::make_shared<int>(42)); }
+} // namespace
+
+// Regression for https://github.com/ChaiScript/ChaiScript/issues/493 - shared_ptr
+// arguments could not be round-tripped from C++ through a std::function-wrapped
+// ChaiScript callback back into a C++ function expecting a shared_ptr.
+TEST_CASE("shared_ptr passed through std::function callback") {
+  chaiscript::ChaiScript_Basic chai(create_chaiscript_stdlib(), create_chaiscript_parser());
+
+  shared_ptr_callback_observed_value = 0;
+
+  chai.add(chaiscript::fun(&shared_ptr_callback_accept), "accept");
+  chai.add(chaiscript::fun(&shared_ptr_callback_call), "call");
+
+  CHECK_NOTHROW(chai.eval("call(accept)"));
+  CHECK(shared_ptr_callback_observed_value == 42);
+}
+
 TEST_CASE("Non-ASCII characters in the middle of string") {
   chaiscript::ChaiScript_Basic chai(create_chaiscript_stdlib(), create_chaiscript_parser());
   CHECK_THROWS_AS(chai.eval<std::string>("prin\xeft \"Hello World\""), chaiscript::exception::eval_error);