diff --git a/include/exec/ram_addr.h b/include/exec/ram_addr.h
index cf2446a176..51ec153a57 100644
--- a/include/exec/ram_addr.h
+++ b/include/exec/ram_addr.h
@@ -27,6 +27,7 @@ struct RAMBlock {
     struct rcu_head rcu;
     struct MemoryRegion *mr;
     uint8_t *host;
+    uint8_t *colo_cache; /* For colo, VM's ram cache */
     ram_addr_t offset;
     ram_addr_t used_length;
     ram_addr_t max_length;
diff --git a/migration/migration.c b/migration/migration.c
index d57a23dcfd..a17f81a245 100644
--- a/migration/migration.c
+++ b/migration/migration.c
@@ -441,6 +441,10 @@ static void process_incoming_migration_co(void *opaque)
             error_report_err(local_err);
             exit(EXIT_FAILURE);
         }
+        if (colo_init_ram_cache() < 0) {
+            error_report("Init ram cache failed");
+            exit(EXIT_FAILURE);
+        }
         mis->migration_incoming_co = qemu_coroutine_self();
         qemu_thread_create(&mis->colo_incoming_thread, "COLO incoming",
              colo_process_incoming_thread, mis, QEMU_THREAD_JOINABLE);
@@ -449,6 +453,8 @@ static void process_incoming_migration_co(void *opaque)
 
         /* Wait checkpoint incoming thread exit before free resource */
         qemu_thread_join(&mis->colo_incoming_thread);
+        /* We hold the global iothread lock, so it is safe here */
+        colo_release_ram_cache();
     }
 
     if (ret < 0) {
diff --git a/migration/ram.c b/migration/ram.c
index cd5f55117d..30cc83996f 100644
--- a/migration/ram.c
+++ b/migration/ram.c
@@ -2858,6 +2858,20 @@ static inline void *host_from_ram_block_offset(RAMBlock *block,
     return block->host + offset;
 }
 
+static inline void *colo_cache_from_block_offset(RAMBlock *block,
+                                                 ram_addr_t offset)
+{
+    if (!offset_in_ramblock(block, offset)) {
+        return NULL;
+    }
+    if (!block->colo_cache) {
+        error_report("%s: colo_cache is NULL in block :%s",
+                     __func__, block->idstr);
+        return NULL;
+    }
+    return block->colo_cache + offset;
+}
+
 /**
  * ram_handle_compressed: handle the zero page case
  *
@@ -3062,6 +3076,58 @@ static void decompress_data_with_multi_threads(QEMUFile *f,
     qemu_mutex_unlock(&decomp_done_lock);
 }
 
+/*
+ * colo cache: this is for secondary VM, we cache the whole
+ * memory of the secondary VM, it is need to hold the global lock
+ * to call this helper.
+ */
+int colo_init_ram_cache(void)
+{
+    RAMBlock *block;
+
+    rcu_read_lock();
+    QLIST_FOREACH_RCU(block, &ram_list.blocks, next) {
+        block->colo_cache = qemu_anon_ram_alloc(block->used_length,
+                                                NULL,
+                                                false);
+        if (!block->colo_cache) {
+            error_report("%s: Can't alloc memory for COLO cache of block %s,"
+                         "size 0x" RAM_ADDR_FMT, __func__, block->idstr,
+                         block->used_length);
+            goto out_locked;
+        }
+        memcpy(block->colo_cache, block->host, block->used_length);
+    }
+    rcu_read_unlock();
+    return 0;
+
+out_locked:
+    QLIST_FOREACH_RCU(block, &ram_list.blocks, next) {
+        if (block->colo_cache) {
+            qemu_anon_ram_free(block->colo_cache, block->used_length);
+            block->colo_cache = NULL;
+        }
+    }
+
+    rcu_read_unlock();
+    return -errno;
+}
+
+/* It is need to hold the global lock to call this helper */
+void colo_release_ram_cache(void)
+{
+    RAMBlock *block;
+
+    rcu_read_lock();
+    QLIST_FOREACH_RCU(block, &ram_list.blocks, next) {
+        if (block->colo_cache) {
+            qemu_anon_ram_free(block->colo_cache, block->used_length);
+            block->colo_cache = NULL;
+        }
+    }
+    rcu_read_unlock();
+}
+
 /**
  * ram_load_setup: Setup RAM for migration incoming side
  *
@@ -3078,6 +3144,7 @@ static int ram_load_setup(QEMUFile *f, void *opaque)
 
     xbzrle_load_setup();
     ramblock_recv_map_init();
+
     return 0;
 }
 
@@ -3091,6 +3158,7 @@ static int ram_load_cleanup(void *opaque)
         g_free(rb->receivedmap);
         rb->receivedmap = NULL;
     }
+
     return 0;
 }
 
@@ -3324,13 +3392,24 @@ static int ram_load(QEMUFile *f, void *opaque, int version_id)
                      RAM_SAVE_FLAG_COMPRESS_PAGE | RAM_SAVE_FLAG_XBZRLE)) {
             RAMBlock *block = ram_block_from_stream(f, flags);
 
-            host = host_from_ram_block_offset(block, addr);
+            /*
+             * After going into COLO, we should load the Page into colo_cache.
+             */
+            if (migration_incoming_in_colo_state()) {
+                host = colo_cache_from_block_offset(block, addr);
+            } else {
+                host = host_from_ram_block_offset(block, addr);
+            }
             if (!host) {
                 error_report("Illegal RAM offset " RAM_ADDR_FMT, addr);
                 ret = -EINVAL;
                 break;
             }
-            ramblock_recv_bitmap_set(block, host);
+
+            if (!migration_incoming_in_colo_state()) {
+                ramblock_recv_bitmap_set(block, host);
+            }
+
             trace_ram_load_loop(block->idstr, (uint64_t)addr, flags, host);
         }
 
diff --git a/migration/ram.h b/migration/ram.h
index d386f4d641..d5e81d4d48 100644
--- a/migration/ram.h
+++ b/migration/ram.h
@@ -70,4 +70,8 @@ int64_t ramblock_recv_bitmap_send(QEMUFile *file,
                                   const char *block_name);
 int ram_dirty_bitmap_reload(MigrationState *s, RAMBlock *rb);
 
+/* ram cache */
+int colo_init_ram_cache(void);
+void colo_release_ram_cache(void);
+
 #endif
diff --git a/migration/savevm.c b/migration/savevm.c
index 3e5b85636f..fe9ca86a78 100644
--- a/migration/savevm.c
+++ b/migration/savevm.c
@@ -1929,7 +1929,7 @@ static int loadvm_handle_recv_bitmap(MigrationIncomingState *mis,
 static int loadvm_process_enable_colo(MigrationIncomingState *mis)
 {
     migration_incoming_enable_colo();
-    return 0;
+    return colo_init_ram_cache();
 }
 
 /*
