diff --git a/runtime/src/bank/builtins/core_bpf_migration/error.rs b/runtime/src/bank/builtins/core_bpf_migration/error.rs
index f3059ed4509fe7..1bf64d003518c0 100644
--- a/runtime/src/bank/builtins/core_bpf_migration/error.rs
+++ b/runtime/src/bank/builtins/core_bpf_migration/error.rs
@@ -21,6 +21,9 @@ pub enum CoreBpfMigrationError {
     /// Incorrect account owner
     #[error("Incorrect account owner for {0:?}")]
     IncorrectOwner(Pubkey),
+    /// Program account not executable
+    #[error("Program account not executable for program {0:?}")]
+    ProgramAccountNotExecutable(Pubkey),
     /// Program has a data account
     #[error("Data account exists for program {0:?}")]
     ProgramHasDataAccount(Pubkey),
diff --git a/runtime/src/bank/builtins/core_bpf_migration/mod.rs b/runtime/src/bank/builtins/core_bpf_migration/mod.rs
index 871b173e5fa772..6fecbdeba3640e 100644
--- a/runtime/src/bank/builtins/core_bpf_migration/mod.rs
+++ b/runtime/src/bank/builtins/core_bpf_migration/mod.rs
@@ -88,7 +88,9 @@ impl Bank {
         };
         let lamports =
             self.get_minimum_balance_for_rent_exemption(UpgradeableLoaderState::size_of_program());
-        let account = AccountSharedData::new_data(lamports, &state, &bpf_loader_upgradeable::id())?;
+        let mut account =
+            AccountSharedData::new_data(lamports, &state, &bpf_loader_upgradeable::id())?;
+        account.set_executable(true);
         Ok(account)
     }
 
@@ -557,6 +559,9 @@ pub(crate) mod tests {
             // Program account is owned by the upgradeable loader.
             assert_eq!(program_account.owner(), &bpf_loader_upgradeable::id());
 
+            // Program account is executable.
+            assert!(program_account.executable());
+
             // Program account has the correct state, with a pointer to its program
             // data address.
             let program_account_state: UpgradeableLoaderState = program_account.state().unwrap();
@@ -887,6 +892,7 @@ pub(crate) mod tests {
             let owner = &bpf_loader_upgradeable::id();
 
             let mut account = AccountSharedData::new(lamports, space, owner);
+            account.set_executable(true);
             account.data_as_mut_slice().copy_from_slice(&data);
             bank.store_account_and_update_capitalization(program_address, &account);
             account
diff --git a/runtime/src/bank/builtins/core_bpf_migration/target_core_bpf.rs b/runtime/src/bank/builtins/core_bpf_migration/target_core_bpf.rs
index a98a72528bb567..2e1e3ff484a82a 100644
--- a/runtime/src/bank/builtins/core_bpf_migration/target_core_bpf.rs
+++ b/runtime/src/bank/builtins/core_bpf_migration/target_core_bpf.rs
@@ -20,7 +20,8 @@ pub(crate) struct TargetCoreBpf {
 impl TargetCoreBpf {
     /// Collects the details of a Core BPF program and verifies it is properly
     /// configured.
-    /// The program account should exist with a pointer to its data account.
+    /// The program account should exist with a pointer to its data account
+    /// and it should be marked as executable.
     /// The program data account should exist with the correct state
     /// (a ProgramData header and the program ELF).
     pub(crate) fn new_checked(
@@ -39,6 +40,13 @@ impl TargetCoreBpf {
             return Err(CoreBpfMigrationError::IncorrectOwner(*program_address));
         }
 
+        // The program account should be executable.
+        if !program_account.executable() {
+            return Err(CoreBpfMigrationError::ProgramAccountNotExecutable(
+                *program_address,
+            ));
+        }
+
         // The program account should have a pointer to its data account.
         match program_account.deserialize_data::<UpgradeableLoaderState>()? {
             UpgradeableLoaderState::Program {
@@ -94,11 +102,11 @@ mod tests {
         solana_sdk::{account::WritableAccount, bpf_loader_upgradeable},
     };
 
-    fn store_account(bank: &Bank, address: &Pubkey, data: &[u8], owner: &Pubkey) {
+    fn store_account(bank: &Bank, address: &Pubkey, data: &[u8], owner: &Pubkey, executable: bool) {
         let space = data.len();
         let lamports = bank.get_minimum_balance_for_rent_exemption(space);
         let mut account = AccountSharedData::new(lamports, space, owner);
-        account.set_executable(true);
+        account.set_executable(executable);
         account.data_as_mut_slice().copy_from_slice(data);
         bank.store_account_and_update_capitalization(address, &account);
     }
@@ -125,18 +133,36 @@ mod tests {
             })
             .unwrap(),
             &Pubkey::new_unique(), // Not the upgradeable loader
+            true,
         );
         assert_matches!(
             TargetCoreBpf::new_checked(&bank, &program_address).unwrap_err(),
             CoreBpfMigrationError::IncorrectOwner(..)
         );
 
+        // Fail if the program account is not executable.
+        store_account(
+            &bank,
+            &program_address,
+            &bincode::serialize(&UpgradeableLoaderState::Program {
+                programdata_address: program_data_address,
+            })
+            .unwrap(),
+            &bpf_loader_upgradeable::id(),
+            false, // Not executable
+        );
+        assert_matches!(
+            TargetCoreBpf::new_checked(&bank, &program_address).unwrap_err(),
+            CoreBpfMigrationError::ProgramAccountNotExecutable(..)
+        );
+
         // Fail if the program account does not have the correct state.
         store_account(
             &bank,
             &program_address,
             &[4u8; 200], // Not the correct state
             &bpf_loader_upgradeable::id(),
+            true,
         );
         assert_matches!(
             TargetCoreBpf::new_checked(&bank, &program_address).unwrap_err(),
@@ -154,6 +180,7 @@ mod tests {
             })
             .unwrap(),
             &bpf_loader_upgradeable::id(),
+            true,
         );
         assert_matches!(
             TargetCoreBpf::new_checked(&bank, &program_address).unwrap_err(),
@@ -171,6 +198,7 @@ mod tests {
             })
             .unwrap(),
             &bpf_loader_upgradeable::id(),
+            true,
         );
 
         // Store the proper program account.
@@ -182,6 +210,7 @@ mod tests {
             })
             .unwrap(),
             &bpf_loader_upgradeable::id(),
+            true,
         );
 
         // Fail if the program data account does not exist.
@@ -200,6 +229,7 @@ mod tests {
             })
             .unwrap(),
             &Pubkey::new_unique(), // Not the upgradeable loader
+            false,
         );
         assert_matches!(
             TargetCoreBpf::new_checked(&bank, &program_address).unwrap_err(),
@@ -212,6 +242,7 @@ mod tests {
             &program_data_address,
             &[4u8; 200], // Not the correct state
             &bpf_loader_upgradeable::id(),
+            false,
         );
         assert_matches!(
             TargetCoreBpf::new_checked(&bank, &program_address).unwrap_err(),
@@ -228,6 +259,7 @@ mod tests {
             })
             .unwrap(),
             &bpf_loader_upgradeable::id(),
+            false,
         );
         assert_matches!(
             TargetCoreBpf::new_checked(&bank, &program_address).unwrap_err(),
@@ -257,6 +289,7 @@ mod tests {
                 &program_data_address,
                 &data,
                 &bpf_loader_upgradeable::id(),
+                false,
             );
 
             let target_core_bpf = TargetCoreBpf::new_checked(&bank, &program_address).unwrap();