diff --git a/dask_expr/_expr.py b/dask_expr/_expr.py
index 7a2f2dcfe..620f13682 100644
--- a/dask_expr/_expr.py
+++ b/dask_expr/_expr.py
@@ -4,6 +4,7 @@
 import numbers
 import operator
 import os
+import weakref
 from collections import defaultdict
 from collections.abc import Generator, Mapping
 
@@ -34,6 +35,20 @@
 
 no_default = "__no_default__"
 
+_object_cache = weakref.WeakValueDictionary()
+
+
+def normalize_arg(arg):
+    if isinstance(arg, list):
+        return tuple(arg)
+    if isinstance(arg, dict):
+        return tuple(sorted(arg.items()))
+    if isinstance(arg, pd.core.base.PandasObject):
+        return (type(arg), id(arg))  # not quite safe
+    if isinstance(arg, np.ndarray):
+        return (type(arg), id(arg))  # not quite safe
+    return arg
+
 
 class Expr:
     """Primary class for all Expressions
@@ -46,7 +61,26 @@ class Expr:
     _defaults = {}
     _is_length_preserving = False
 
-    def __init__(self, *args, **kwargs):
+    def __new__(cls, *args, **kwargs):
+        key = (
+            cls,
+            tuple(map(normalize_arg, args)),
+            tuple(sorted(toolz.valmap(normalize_arg, kwargs).items())),
+        )
+
+        try:
+            return _object_cache[key]
+        except KeyError:
+            obj = object.__new__(cls)
+            cls._init(obj, *args, **kwargs)
+            _object_cache[key] = obj
+            return obj
+        except Exception:  # can not hash
+            obj = object.__new__(cls)
+            cls._init(obj, *args, **kwargs)
+            return obj
+
+    def _init(self, *args, **kwargs):
         operands = list(args)
         for parameter in type(self)._parameters[len(operands) :]:
             try:
diff --git a/dask_expr/tests/test_collection.py b/dask_expr/tests/test_collection.py
index 13a76e849..e5f7b1d43 100644
--- a/dask_expr/tests/test_collection.py
+++ b/dask_expr/tests/test_collection.py
@@ -1212,3 +1212,11 @@ def test_shape(df, pdf):
 
 def test_size(df, pdf):
     assert_eq(df.size, pdf.size)
+
+
+def test_object_caching(df):
+    a = df + 1
+    b = df + 1
+    assert a._expr is b._expr
+    assert a._meta is b._meta
+    del a, b