diff --git a/bindings/generated_docstrings/systems_analysis.h b/bindings/generated_docstrings/systems_analysis.h
index 0c5baf580c47..7c604af15faa 100644
--- a/bindings/generated_docstrings/systems_analysis.h
+++ b/bindings/generated_docstrings/systems_analysis.h
@@ -4340,6 +4340,11 @@ See also:
     Initialize(), AdvancePendingEvents(), SimulatorStatus,
     set_monitor())""";
         } AdvanceTo;
+        // Symbol: drake::systems::Simulator::EmplaceWithSharedContext
+        struct /* EmplaceWithSharedContext */ {
+          // Source: drake/systems/analysis/simulator.h
+          const char* doc = R"""()""";
+        } EmplaceWithSharedContext;
         // Symbol: drake::systems::Simulator::GetCurrentWitnessTimeIsolation
         struct /* GetCurrentWitnessTimeIsolation */ {
           // Source: drake/systems/analysis/simulator.h
@@ -4445,11 +4450,6 @@ Returns ``status``:
 See also:
     AdvanceTo(), AdvancePendingEvents(), SimulatorStatus)""";
         } Initialize;
-        // Symbol: drake::systems::Simulator::MakeWithSharedContext
-        struct /* MakeWithSharedContext */ {
-          // Source: drake/systems/analysis/simulator.h
-          const char* doc = R"""()""";
-        } MakeWithSharedContext;
         // Symbol: drake::systems::Simulator::ResetStatistics
         struct /* ResetStatistics */ {
           // Source: drake/systems/analysis/simulator.h
diff --git a/bindings/pydrake/multibody/inverse_kinematics_py_differential.cc b/bindings/pydrake/multibody/inverse_kinematics_py_differential.cc
index cb3544c06f99..a4a83e519bb2 100644
--- a/bindings/pydrake/multibody/inverse_kinematics_py_differential.cc
+++ b/bindings/pydrake/multibody/inverse_kinematics_py_differential.cc
@@ -334,15 +334,18 @@ void DefineDifferentialIkSystem(py::module_ m) {
 
   using Class = DifferentialInverseKinematicsSystem;
   cls  // BR
-      .def(py::init([](py::object recipe, std::string_view task_frame,
-                        py::object collision_checker, const DofMask& active_dof,
-                        double time_step, double K_VX,
-                        const SpatialVelocity<double>& Vd_TG_limit) {
-        return std::make_unique<Class>(
-            make_shared_ptr_from_py_object<Recipe>(recipe), task_frame,
-            make_shared_ptr_from_py_object<CollisionChecker>(collision_checker),
-            active_dof, time_step, K_VX, Vd_TG_limit);
-      }),
+      .def(
+          "__init__",
+          [](Class* self, py::object recipe, std::string_view task_frame,
+              py::object collision_checker, const DofMask& active_dof,
+              double time_step, double K_VX,
+              const SpatialVelocity<double>& Vd_TG_limit) {
+            new (self) Class(make_shared_ptr_from_py_object<Recipe>(recipe),
+                task_frame,
+                make_shared_ptr_from_py_object<CollisionChecker>(
+                    collision_checker),
+                active_dof, time_step, K_VX, Vd_TG_limit);
+          },
           py::arg("recipe"), py::arg("task_frame"),
           py::arg("collision_checker"), py::arg("active_dof"),
           py::arg("time_step"), py::arg("K_VX"), py::arg("Vd_TG_limit"),
diff --git a/bindings/pydrake/systems/analysis_py.cc b/bindings/pydrake/systems/analysis_py.cc
index 580bd545858e..794cafc54330 100644
--- a/bindings/pydrake/systems/analysis_py.cc
+++ b/bindings/pydrake/systems/analysis_py.cc
@@ -291,24 +291,28 @@ PYDRAKE_MODULE(analysis, m) {
     auto cls = DefineTemplateClassWithDefault<Simulator<T>>(
         m, "Simulator", GetPyParam<T>(), doc.Simulator.doc);
     cls  // BR
-        .def(py::init([](const System<T>& system, py::object py_context) {
-          // Handle the two cases for context ownership explicitly:
-          // 1. If py_context is None, create a new context and take ownership.
-          // 2. If py_context is provided, use the existing Python wrapper
-          //    directly (it already owns the C++ object).
-          if (py_context.is_none()) {
-            std::unique_ptr<Context<T>> context_ptr =
-                system.CreateDefaultContext();
-            // Use take_ownership because we just created this context and need
-            // Python to own it. The unique_ptr is released, leaving the raw
-            // pointer with no owner until take_ownership establishes Python
-            // ownership.
-            py_context =
-                py::cast(context_ptr.release(), py_rvp::take_ownership);
-          }
-          return Simulator<T>::MakeWithSharedContext(
-              system, make_shared_ptr_from_py_object<Context<T>>(py_context));
-        }),
+        .def(
+            "__init__",
+            [](Simulator<T>* self, const System<T>& system,
+                py::object py_context) {
+              // Handle the two cases for context ownership explicitly:
+              // 1. If py_context is None, create a new context and take
+              //    ownership.
+              // 2. If py_context is provided, use the existing Python wrapper
+              //    directly (it already owns the C++ object).
+              if (py_context.is_none()) {
+                std::unique_ptr<Context<T>> context_ptr =
+                    system.CreateDefaultContext();
+                // Use take_ownership because we just created this context and
+                // need Python to own it. The unique_ptr is released, leaving
+                // the raw pointer with no owner until take_ownership
+                // establishes Python ownership.
+                py_context =
+                    py::cast(context_ptr.release(), py_rvp::take_ownership);
+              }
+              Simulator<T>::EmplaceWithSharedContext(self, system,
+                  make_shared_ptr_from_py_object<Context<T>>(py_context));
+            },
             py::arg("system"), py::arg("context") = py::none(),
             // Keep alive, reference: `self` keeps `system` alive.
             py::keep_alive<1, 2>(),
diff --git a/systems/analysis/BUILD.bazel b/systems/analysis/BUILD.bazel
index 27388a47898b..b21ea728a231 100644
--- a/systems/analysis/BUILD.bazel
+++ b/systems/analysis/BUILD.bazel
@@ -522,6 +522,7 @@ drake_cc_googletest(
         ":implicit_euler_integrator",
         ":runge_kutta3_integrator",
         ":simulator",
+        "//common:scope_exit",
         "//common/test_utilities:expect_throws_message",
         "//common/test_utilities:is_dynamic_castable",
         "//systems/analysis/test_utilities:controlled_spring_mass_system",
diff --git a/systems/analysis/simulator.cc b/systems/analysis/simulator.cc
index cf91d763e494..012237eea516 100644
--- a/systems/analysis/simulator.cc
+++ b/systems/analysis/simulator.cc
@@ -22,11 +22,10 @@ Simulator<T>::Simulator(std::unique_ptr<const System<T>> owned_system,
     : Simulator(nullptr, std::move(owned_system), std::move(context), true) {}
 
 template <typename T>
-std::unique_ptr<Simulator<T>> Simulator<T>::MakeWithSharedContext(
-    const System<T>& system, std::shared_ptr<Context<T>> context) {
-  // This slightly odd spelling allows access to the private constructor.
-  return std::unique_ptr<Simulator<T>>(
-      new Simulator(&system, nullptr, std::move(context), false));
+void Simulator<T>::EmplaceWithSharedContext(
+    Simulator<T>* self, const System<T>& system,
+    std::shared_ptr<Context<T>> context) {
+  new (self) Simulator(&system, nullptr, std::move(context), false);
 }
 
 template <typename T>
diff --git a/systems/analysis/simulator.h b/systems/analysis/simulator.h
index 4e9d854507ca..252adfcb1fb2 100644
--- a/systems/analysis/simulator.h
+++ b/systems/analysis/simulator.h
@@ -275,14 +275,20 @@ class Simulator {
                      std::unique_ptr<Context<T>> context = nullptr);
 
 #ifndef DRAKE_DOXYGEN_CXX
-  // (Internal use only) Makes a Simulator which accepts a context via shared
-  // pointer.
+  // (Internal use only) Emplaces a Simulator which accepts a context via
+  // shared pointer.
+  //
+  // The `self` parameter should point to uninitialized storage of at least
+  // sizeof(Simulator<T>) bytes. It is the calling code's responsibility to
+  // eventually destroy the Simulator<T> instance, using (for example)
+  // std::destroy_at.
   //
   // The shared pointer signature is useful for implementing pydrake memory
   // management, because it permits supplying a custom deleter. The context is
   // not *actually* shared. The simulator will modify it at will.
-  static std::unique_ptr<Simulator<T>> MakeWithSharedContext(
-      const System<T>& system, std::shared_ptr<Context<T>> context);
+  static void EmplaceWithSharedContext(Simulator<T>* self,
+                                       const System<T>& system,
+                                       std::shared_ptr<Context<T>> context);
 #endif
 
   // TODO(sherm1) Make Initialize() attempt to satisfy constraints.
diff --git a/systems/analysis/test/simulator_test.cc b/systems/analysis/test/simulator_test.cc
index 5c972100fe37..a254c22253e0 100644
--- a/systems/analysis/test/simulator_test.cc
+++ b/systems/analysis/test/simulator_test.cc
@@ -18,6 +18,7 @@
 #include "drake/common/autodiff.h"
 #include "drake/common/drake_assert.h"
 #include "drake/common/drake_copyable.h"
+#include "drake/common/scope_exit.h"
 #include "drake/common/test_utilities/expect_throws_message.h"
 #include "drake/common/test_utilities/is_dynamic_castable.h"
 #include "drake/common/text_logging.h"
@@ -814,9 +815,9 @@ GTEST_TEST(SimulatorTest, SecondConstructor) {
   EXPECT_EQ(simulator.get_context().get_time(), 3.0);
 }
 
-// Tests the internal use (for Python) factory method that takes the context via
-// shared pointer.
-GTEST_TEST(SimulatorTest, SharedContextFactoryMethod) {
+// Tests in-place construction factory method that takes the context via shared
+// pointer. (This method is internal use only for Python.)
+GTEST_TEST(SimulatorTest, SharedContextEmplacementFactoryMethod) {
   // Create the spring-mass system and context.
   analysis_test::MySpringMassSystem<double> spring_mass(1.0, 1.0, 0.0);
   auto context = spring_mass.CreateDefaultContext();
@@ -825,9 +826,15 @@ GTEST_TEST(SimulatorTest, SharedContextFactoryMethod) {
   context->SetTime(7.0);
   std::shared_ptr<Context<double>> shared_context(std::move(context));
 
-  // Construct the simulator with the created context.
-  auto simulator = Simulator<double>::MakeWithSharedContext(
-      spring_mass, std::move(shared_context));
+  // Construct the simulator via placement new with the created context.
+  std::array<char, sizeof(Simulator<double>)> storage;
+  Simulator<double>* simulator =
+      reinterpret_cast<Simulator<double>*>(storage.data());
+  ScopeExit guard([&]() {
+    std::destroy_at(simulator);
+  });
+  Simulator<double>::EmplaceWithSharedContext(simulator, spring_mass,
+                                              std::move(shared_context));
 
   // Verify that context values are equivalent.
   EXPECT_EQ(simulator->get_context().get_time(), 7.0);