diff --git a/docs/news.rst b/docs/news.rst
index 83641a75..b4e2f5e9 100644
--- a/docs/news.rst
+++ b/docs/news.rst
@@ -17,6 +17,15 @@ Backwards Compatibility Notes
 * cibuildwheel upgrade required us to drop generating the CPython 3.13 free-threaded
   wheels.
 
+Bug Fixes
+---------
+
+* The CFFI backend no longer crashes or fails with ``Dictionary mismatch``
+  when multiple ``ZstdDecompressor`` instances use the same
+  ``ZstdCompressionDict``. It used to create a new decompression dictionary for
+  every decompressor and operation, freeing the previous one while other
+  decompressors could still be using it. (#361)
+
 0.25.0 (released 2025-09-14)
 ============================
 
diff --git a/tests/test_decompressor_decompress.py b/tests/test_decompressor_decompress.py
index 602df6fe..07a82545 100644
--- a/tests/test_decompressor_decompress.py
+++ b/tests/test_decompressor_decompress.py
@@ -158,6 +158,35 @@ def test_dictionary_multiple(self):
             decompressed = dctx.decompress(compressed[i])
             self.assertEqual(decompressed, sources[i])
 
+    def test_dictionary_shared_by_decompressors(self):
+        samples = []
+        for i in range(128):
+            samples.append(b"foo" * 64)
+            samples.append(b"bar" * 64)
+            samples.append(b"foobar" * 64)
+            samples.append(b"qwert" * 64)
+            samples.append(b"yuiop" * 64)
+            samples.append(b"asdfg" * 64)
+            samples.append(b"hijkl" * 64)
+
+        d = zstd.train_dictionary(8192, samples)
+
+        orig = b"foobar" * 16384
+        cctx = zstd.ZstdCompressor(level=1, dict_data=d)
+        compressed = cctx.compress(orig)
+
+        for _ in range(8):
+            # The reader's decompression context is bound to the dictionary
+            # when the reader is created. Creating another decompressor for
+            # the same dictionary must not invalidate it.
+            reader = zstd.ZstdDecompressor(dict_data=d).stream_reader(
+                compressed
+            )
+            dctx = zstd.ZstdDecompressor(dict_data=d)
+
+            self.assertEqual(reader.read(), orig)
+            self.assertEqual(dctx.decompress(compressed), orig)
+
     def test_max_window_size(self):
         with open(__file__, "rb") as fh:
             source = fh.read()
diff --git a/zstandard/backend_cffi.py b/zstandard/backend_cffi.py
index 9d830cf1..10058139 100644
--- a/zstandard/backend_cffi.py
+++ b/zstandard/backend_cffi.py
@@ -85,6 +85,7 @@
 
 import io
 import os
+import threading
 
 from ._cffi import (  # type: ignore
     ffi,
@@ -2593,6 +2594,10 @@ def get_frame_parameters(data, format=FORMAT_ZSTD1):
     return FrameParameters(params[0])
 
 
+# Serializes the lazy creation of ZstdCompressionDict._ddict.
+_DDICT_LOCK = threading.Lock()
+
+
 class ZstdCompressionDict(object):
     """Represents a computed compression dictionary.
 
@@ -2747,21 +2752,35 @@ def precompute_compress(self, level=0, compression_params=None):
 
     @property
     def _ddict(self):
-        ddict = lib.ZSTD_createDDict_advanced(
-            self._data,
-            len(self._data),
-            lib.ZSTD_dlm_byRef,
-            self._dict_type,
-            lib.ZSTD_defaultCMem,
-        )
+        # Like the C backend, create the DDict once and keep it as long as
+        # the dictionary: decompression contexts only reference it, so
+        # replacing it would free a DDict that another decompressor may
+        # still be using. The property takes precedence over the instance
+        # __dict__, so the cached value must be looked up explicitly.
+        ddict = self.__dict__.get("_ddict")
+        if ddict is not None:
+            return ddict
+
+        with _DDICT_LOCK:
+            ddict = self.__dict__.get("_ddict")
+            if ddict is not None:
+                return ddict
+
+            ddict = lib.ZSTD_createDDict_advanced(
+                self._data,
+                len(self._data),
+                lib.ZSTD_dlm_byRef,
+                self._dict_type,
+                lib.ZSTD_defaultCMem,
+            )
 
-        if ddict == ffi.NULL:
-            raise ZstdError("could not create decompression dict")
+            if ddict == ffi.NULL:
+                raise ZstdError("could not create decompression dict")
 
-        ddict = ffi.gc(
-            ddict, lib.ZSTD_freeDDict, size=lib.ZSTD_sizeof_DDict(ddict)
-        )
-        self.__dict__["_ddict"] = ddict
+            ddict = ffi.gc(
+                ddict, lib.ZSTD_freeDDict, size=lib.ZSTD_sizeof_DDict(ddict)
+            )
+            self.__dict__["_ddict"] = ddict
 
         return ddict