diff --git a/packages/eslint-plugin/tests/rules/no-unused-vars/no-unused-vars.test.ts b/packages/eslint-plugin/tests/rules/no-unused-vars/no-unused-vars.test.ts
index e13dfc6f8496..fb7eadb47b71 100644
--- a/packages/eslint-plugin/tests/rules/no-unused-vars/no-unused-vars.test.ts
+++ b/packages/eslint-plugin/tests/rules/no-unused-vars/no-unused-vars.test.ts
@@ -1576,6 +1576,33 @@ export const ComponentFoo = () => {
         },
       ],
     },
+    // https://github.com/typescript-eslint/typescript-eslint/issues/3303
+    {
+      code: `
+import React from 'react';
+
+export const ComponentFoo = () => {
+  return <div>Foo Foo</div>;
+};
+      `,
+      parserOptions: {
+        ecmaFeatures: {
+          jsx: true,
+        },
+        jsxPragma: null,
+      },
+      errors: [
+        {
+          messageId: 'unusedVar',
+          line: 2,
+          data: {
+            varName: 'React',
+            action: 'defined',
+            additional: '',
+          },
+        },
+      ],
+    },
     {
       code: `
 declare module 'foo' {
diff --git a/packages/parser/README.md b/packages/parser/README.md
index 70ca5bf63d64..d76219e1ae9f 100644
--- a/packages/parser/README.md
+++ b/packages/parser/README.md
@@ -55,7 +55,7 @@ interface ParserOptions {
   };
   ecmaVersion?: number;
 
-  jsxPragma?: string;
+  jsxPragma?: string | null;
   jsxFragmentName?: string | null;
   lib?: string[];
 
@@ -111,7 +111,7 @@ Specifies the version of ECMAScript syntax you want to use. This is used by the
 Default `'React'`
 
 The identifier that's used for JSX Elements creation (after transpilation).
-If you're using a library other than React (like `preact`), then you should change this value.
+If you're using a library other than React (like `preact`), then you should change this value. If you are using the [new JSX transform](https://reactjs.org/blog/2020/09/22/introducing-the-new-jsx-transform.html) you can set this to `null`.
 
 This should not be a member expression - just the root identifier (i.e. use `"React"` instead of `"React.createElement"`).
 
diff --git a/packages/scope-manager/src/analyze.ts b/packages/scope-manager/src/analyze.ts
index 1aaf874049fc..9845a3c17505 100644
--- a/packages/scope-manager/src/analyze.ts
+++ b/packages/scope-manager/src/analyze.ts
@@ -38,7 +38,7 @@ interface AnalyzeOptions {
    * This should not be a member expression - just the root identifier (i.e. use "React" instead of "React.createElement").
    * Defaults to `"React"`.
    */
-  jsxPragma?: string;
+  jsxPragma?: string | null;
 
   /**
    * The identifier that's used for JSX fragment elements (after transpilation).
@@ -108,7 +108,10 @@ function analyze(
     globalReturn: providedOptions?.globalReturn ?? DEFAULT_OPTIONS.globalReturn,
     impliedStrict:
       providedOptions?.impliedStrict ?? DEFAULT_OPTIONS.impliedStrict,
-    jsxPragma: providedOptions?.jsxPragma ?? DEFAULT_OPTIONS.jsxPragma,
+    jsxPragma:
+      providedOptions?.jsxPragma === undefined
+        ? DEFAULT_OPTIONS.jsxPragma
+        : providedOptions.jsxPragma,
     jsxFragmentName:
       providedOptions?.jsxFragmentName ?? DEFAULT_OPTIONS.jsxFragmentName,
     sourceType: providedOptions?.sourceType ?? DEFAULT_OPTIONS.sourceType,
diff --git a/packages/scope-manager/src/referencer/Referencer.ts b/packages/scope-manager/src/referencer/Referencer.ts
index f35830e6acda..df4c318daddb 100644
--- a/packages/scope-manager/src/referencer/Referencer.ts
+++ b/packages/scope-manager/src/referencer/Referencer.ts
@@ -22,7 +22,7 @@ import { lib as TSLibraries } from '../lib';
 import { Scope, GlobalScope } from '../scope';
 
 interface ReferencerOptions extends VisitorOptions {
-  jsxPragma: string;
+  jsxPragma: string | null;
   jsxFragmentName: string | null;
   lib: Lib[];
   emitDecoratorMetadata: boolean;
@@ -30,7 +30,7 @@ interface ReferencerOptions extends VisitorOptions {
 
 // Referencing variables and creating bindings.
 class Referencer extends Visitor {
-  #jsxPragma: string;
+  #jsxPragma: string | null;
   #jsxFragmentName: string | null;
   #hasReferencedJsxFactory = false;
   #hasReferencedJsxFragmentFactory = false;
@@ -120,7 +120,7 @@ class Referencer extends Visitor {
   }
 
   private referenceJsxPragma(): void {
-    if (this.#hasReferencedJsxFactory) {
+    if (this.#jsxPragma === null || this.#hasReferencedJsxFactory) {
       return;
     }
     this.#hasReferencedJsxFactory = this.referenceInSomeUpperScope(
diff --git a/packages/types/src/parser-options.ts b/packages/types/src/parser-options.ts
index 850086e1c5b7..9a761a37b97d 100644
--- a/packages/types/src/parser-options.ts
+++ b/packages/types/src/parser-options.ts
@@ -29,7 +29,7 @@ interface ParserOptions {
   ecmaVersion?: EcmaVersion;
 
   // scope-manager specific
-  jsxPragma?: string;
+  jsxPragma?: string | null;
   jsxFragmentName?: string | null;
   lib?: Lib[];