diff --git a/docs/changelog.rst b/docs/changelog.rst
index e1c8a982..baa550a2 100644
--- a/docs/changelog.rst
+++ b/docs/changelog.rst
@@ -9,6 +9,13 @@ Compatibility
 
 * Official Django 6.1 support.
 
+Bugfixes
+^^^^^^^^
+
+* Honor the ``django_db_serialized_rollback`` fixture when a test also has a
+  ``django_db`` marker, so data from migrations is restored between transactional
+  tests even when the marker does not enable ``serialized_rollback``.
+
 v4.14.0 (2026-08-10)
 --------------------
 
diff --git a/pytest_django/fixtures.py b/pytest_django/fixtures.py
index 2acf0e2f..1ea8cf23 100644
--- a/pytest_django/fixtures.py
+++ b/pytest_django/fixtures.py
@@ -134,10 +134,11 @@ def _get_databases_for_test(test: pytest.Item) -> tuple[Iterable[str], bool]:
                 _available_apps,
             ) = validate_django_db(marker_db)
         elif "db" in fixtures or "transactional_db" in fixtures or "live_server" in fixtures:
-            serialized_rollback = "django_db_serialized_rollback" in fixtures
+            serialized_rollback = False
             databases = None
         else:
             return (), False
+        serialized_rollback = serialized_rollback or ("django_db_serialized_rollback" in fixtures)
     if databases is None:
         return (DEFAULT_DB_ALIAS,), serialized_rollback
     elif databases == "__all__":
diff --git a/tests/test_database.py b/tests/test_database.py
index aaff070e..c6f3b83c 100644
--- a/tests/test_database.py
+++ b/tests/test_database.py
@@ -179,6 +179,62 @@ def test_serialized_rollback_3():
         result = django_pytester.runpytest_subprocess("-v")
         assert result.ret == 0
 
+    @pytest.mark.parametrize(
+        "marker",
+        [
+            "@pytest.mark.django_db(transaction=True)",
+            "@pytest.mark.django_db(transaction=True, serialized_rollback=False)",
+            "",
+        ],
+        ids=["marker", "marker-false", "no-marker"],
+    )
+    @pytest.mark.parametrize("indirect", [False, True], ids=["direct", "dependency"])
+    def test_serialized_rollback_fixture_with_marker(
+        self,
+        django_pytester: DjangoPytester,
+        marker: str,
+        indirect: bool,
+    ) -> None:
+        django_pytester.create_app_file(
+            """
+            from django.db import migrations
+
+            def load_data(apps, schema_editor):
+                Item = apps.get_model("app", "Item")
+                Item.objects.create(name="loaded-in-migration")
+
+            class Migration(migrations.Migration):
+                dependencies = [("app", "0001_initial")]
+                operations = [migrations.RunPython(load_data)]
+            """,
+            "migrations/0002_data_migration.py",
+        )
+
+        fixture = "rollback_db" if indirect else "django_db_serialized_rollback"
+        django_pytester.create_test_module(
+            f"""
+            import pytest
+            from .app.models import Item
+
+            @pytest.fixture
+            def rollback_db(django_db_serialized_rollback):
+                pass
+
+            {marker}
+            def test_first(transactional_db, {fixture}):
+                assert Item.objects.filter(name="loaded-in-migration").exists()
+                Item.objects.create(name="test-only")
+
+            {marker}
+            def test_second(transactional_db, {fixture}):
+                assert Item.objects.filter(name="loaded-in-migration").exists()
+                assert not Item.objects.filter(name="test-only").exists()
+            """
+        )
+
+        result = django_pytester.runpytest_subprocess("-v")
+        result.assert_outcomes(passed=2)
+
     @pytest.fixture
     def mydb(self, all_dbs: None) -> None:  # noqa: ARG002
         # This fixture must be able to access the database