diff --git a/addons/spreadsheet/static/src/list/list_data_source.js b/addons/spreadsheet/static/src/list/list_data_source.js
index e41cc567baf..9a1c6036766 100644
--- a/addons/spreadsheet/static/src/list/list_data_source.js
+++ b/addons/spreadsheet/static/src/list/list_data_source.js
@@ -35,13 +35,22 @@ export default class ListDataSource extends OdooViewsDataSource {
      */
     constructor(services, params) {
         super(services, params);
-        this.limit = params.limit;
+        this.maxPosition = params.limit;
+        this.maxPositionFetched = 0;
         this.data = [];
     }
 
+    /**
+     * Increase the max position of the list
+     * @param {number} position
+     */
+    increaseMaxPosition(position) {
+        this.maxPosition = Math.max(this.maxPosition, position);
+    }
+
     async _load() {
         await super._load();
-        if (this.limit === 0) {
+        if (this.maxPosition === 0) {
             this.data = [];
             return;
         }
@@ -52,10 +61,11 @@ export default class ListDataSource extends OdooViewsDataSource {
             this._getFieldsToFetch(),
             {
                 order: orderByToString(orderBy),
-                limit: this.limit,
+                limit: this.maxPosition,
                 context,
             }
         );
+        this.maxPositionFetched = this.maxPosition;
     }
 
     /**
@@ -99,8 +109,8 @@ export default class ListDataSource extends OdooViewsDataSource {
      */
     getListCellValue(position, fieldName) {
         this._assertDataIsLoaded();
-        if (position >= this.limit) {
-            this.limit = position + 1;
+        if (position >= this.maxPositionFetched) {
+            this.increaseMaxPosition(position + 1);
             // A reload is needed because the asked position is not already loaded.
             this._triggerFetching();
             throw new LoadingDataError();
diff --git a/addons/spreadsheet/static/src/list/plugins/list_core_plugin.js b/addons/spreadsheet/static/src/list/plugins/list_core_plugin.js
index 685134bf975..d862af5aaf2 100644
--- a/addons/spreadsheet/static/src/list/plugins/list_core_plugin.js
+++ b/addons/spreadsheet/static/src/list/plugins/list_core_plugin.js
@@ -9,6 +9,7 @@ import { _t } from "@web/core/l10n/translation";
 import { globalFiltersFieldMatchers } from "@spreadsheet/global_filters/plugins/global_filters_core_plugin";
 import { sprintf } from "@web/core/utils/strings";
 import { checkFilterFieldMatching } from "@spreadsheet/global_filters/helpers";
+import { getFirstListFunction, getNumberOfListFormulas } from "../list_helpers";
 
 /**
  * @typedef {Object} ListDefinition
@@ -143,9 +144,51 @@ export default class ListCorePlugin extends CorePlugin {
             case "REMOVE_GLOBAL_FILTER":
                 this._onFilterDeletion(cmd.id);
                 break;
+
+            case "START":
+                for (const sheetId of this.getters.getSheetIds()) {
+                    const cells = this.getters.getCells(sheetId);
+                    for (const cell of Object.values(cells)) {
+                        if (cell.isFormula) {
+                            this._addListPositionToDataSource(cell.content);
+                        }
+                    }
+                }
+                break;
+            case "UPDATE_CELL":
+                if (cmd.content) {
+                    this._addListPositionToDataSource(cmd.content);
+                }
+                break;
         }
     }
 
+    /**
+     * Extract the position of the records asked in the given formula and
+     * increase the max position of the corresponding data source.
+     *
+     * @param {string} content Odoo list formula
+     */
+    _addListPositionToDataSource(content) {
+        if (getNumberOfListFormulas(content) !== 1) {
+            return;
+        }
+        const { functionName, args } = getFirstListFunction(content);
+        if (functionName !== "ODOO.LIST") {
+            return;
+        }
+        const [listId, positionArg] = args.map((arg) => arg.value.toString());
+        if (!(listId in this.lists)) {
+            return;
+        }
+        const position = parseInt(positionArg, 10);
+        if (isNaN(position)) {
+            return;
+        }
+        const dataSourceId = this.lists[listId].dataSourceId;
+        this.dataSources.get(dataSourceId).increaseMaxPosition(position);
+    }
+
     // -------------------------------------------------------------------------
     // Getters
     // -------------------------------------------------------------------------
diff --git a/addons/spreadsheet/static/tests/lists/list_plugin_test.js b/addons/spreadsheet/static/tests/lists/list_plugin_test.js
index b6329bdbda2..b5fb44cdba7 100644
--- a/addons/spreadsheet/static/tests/lists/list_plugin_test.js
+++ b/addons/spreadsheet/static/tests/lists/list_plugin_test.js
@@ -137,7 +137,7 @@ QUnit.module("spreadsheet > list plugin", {}, () => {
         const { model } = await createSpreadsheetWithList({ linesNumber: 2 });
         const [listId] = model.getters.getListIds();
         const dataSource = model.getters.getListDataSource(listId);
-        assert.strictEqual(dataSource.limit, 2);
+        assert.strictEqual(dataSource.maxPosition, 2);
     });
 
     QUnit.test("can select a List from cell formula within a formula", async function (assert) {
@@ -246,13 +246,9 @@ QUnit.module("spreadsheet > list plugin", {}, () => {
         model.dispatch("ACTIVATE_SHEET", { sheetIdFrom: "sheet1", sheetIdTo: "sheet2" });
         /*
          * Ask a first time the value => It will trigger a loading of the data source.
-         * As the list index limit is to 0, there is loading.
          */
         assert.equal(getCellValue(model, "A1"), "Loading...");
         await nextTick();
-        // Ask a second time the value => The list index limit is raised => reload
-        assert.equal(getCellValue(model, "A1"), "Loading...");
-        await nextTick();
         assert.equal(getCellValue(model, "A1"), 12);
         assert.verifySteps(["partner/fields_get", "partner/search_read"]);
     });
@@ -508,6 +504,42 @@ QUnit.module("spreadsheet > list plugin", {}, () => {
         });
     });
 
+    QUnit.test(
+        "List record limit is computed during the import and UPDATE_CELL",
+        async function (assert) {
+            const spreadsheetData = {
+                sheets: [
+                    {
+                        id: "sheet1",
+                        cells: {
+                            A1: { content: `=ODOO.LIST("1", "1", "foo")` },
+                        },
+                    },
+                ],
+                lists: {
+                    1: {
+                        id: 1,
+                        columns: ["foo", "contact_name"],
+                        domain: [],
+                        model: "partner",
+                        orderBy: [],
+                        context: {},
+                    },
+                },
+            };
+            const model = await createModelWithDataSource({ spreadsheetData });
+            const ds = model.getters.getListDataSource("1");
+            assert.strictEqual(ds.maxPosition, 1);
+            assert.strictEqual(ds.maxPositionFetched, 0);
+            setCellContent(model, "A1", `=ODOO.LIST("1", "42", "foo", 2)`);
+            assert.strictEqual(ds.maxPosition, 42);
+            assert.strictEqual(ds.maxPositionFetched, 0);
+            await waitForDataSourcesLoaded(model);
+            assert.strictEqual(ds.maxPosition, 42);
+            assert.strictEqual(ds.maxPositionFetched, 42);
+        }
+    );
+
     QUnit.test(
         "Load list spreadsheet with models that cannot be accessed",
         async function (assert) {