diff --git a/docs/reference/enhancements.md b/docs/reference/enhancements.md
index 70b1ab8..5143024 100644
--- a/docs/reference/enhancements.md
+++ b/docs/reference/enhancements.md
@@ -1008,7 +1008,7 @@ The `^ caption text` syntax adds captions to images, tables, and block quotes:
 - `^ ` marker at start of line triggers caption parsing
 - Can interrupt paragraphs (no blank line required before caption)
 - Blank line between element and caption is allowed for readability
-- Multi-line captions supported (continues until blank line or new block)
+- Multi-line captions supported (continues until blank line or new block; an adjacent `^ ` line is caption text with its caret preserved)
 - Full roundtrip support in HtmlToDjot converter
 
 **Multi-line caption example:**
diff --git a/src/Parser/BlockParser.php b/src/Parser/BlockParser.php
index 35cb232..ab8bfc5 100644
--- a/src/Parser/BlockParser.php
+++ b/src/Parser/BlockParser.php
@@ -3728,7 +3728,7 @@ protected function tryParseCaption(Node $parent, array $lines, int $start): ?int
                 break;
             }
             // Stop at block-level elements
-            if ($this->startsNewBlock($nextLine)) {
+            if ($this->startsNewBlock($nextLine) && !preg_match('/^\^ /', $nextLine)) {
                 break;
             }
             // Stop at new table
diff --git a/tests/TestCase/DjotConverterTest.php b/tests/TestCase/DjotConverterTest.php
index 96be866..aa42b4d 100644
--- a/tests/TestCase/DjotConverterTest.php
+++ b/tests/TestCase/DjotConverterTest.php
@@ -380,6 +380,15 @@ public function testTableCaptionWithBlankLine(): void
         $this->assertStringContainsString('<caption>Caption after blank line</caption>', $result);
     }
 
+    public function testBlankSeparatedSecondCaptionReplacesTheFirst(): void
+    {
+        $djot = "| A | B |\n|---|---|\n| 1 | 2 |\n^ First\n\n^ Second";
+        $expected = "<table>\n<caption>Second</caption>\n<tr>\n<th>A</th>\n<th>B</th>\n</tr>\n"
+            . "<tr>\n<td>1</td>\n<td>2</td>\n</tr>\n</table>\n";
+
+        $this->assertSame($expected, $this->converter->convert($djot));
+    }
+
     public function testTableCaptionMultiline(): void
     {
         $djot = "| A | B |\n|---|---|\n| 1 | 2 |\n^ This is a long caption\nthat continues on the next line";
@@ -390,6 +399,41 @@ public function testTableCaptionMultiline(): void
         $this->assertStringContainsString("<caption>This is a long caption\nthat continues on the next line</caption>", $result);
     }
 
+    public function testAdjacentCaptionMarkerIsLiteralTableCaptionText(): void
+    {
+        $djot = "| A | B |\n|---|---|\n| 1 | 2 |\n^ First\n^ Second";
+        $expected = "<table>\n<caption>First\n^ Second</caption>\n<tr>\n<th>A</th>\n<th>B</th>\n</tr>\n"
+            . "<tr>\n<td>1</td>\n<td>2</td>\n</tr>\n</table>\n";
+
+        $this->assertSame($expected, $this->converter->convert($djot));
+    }
+
+    public function testAdjacentCaptionMarkerIsLiteralImageCaptionText(): void
+    {
+        $djot = "![alt](image.png)\n^ First\n^ Second";
+        $expected = "<figure>\n<img alt=\"alt\" src=\"image.png\"><figcaption>First\n^ Second</figcaption>\n</figure>\n";
+
+        $this->assertSame($expected, $this->converter->convert($djot));
+    }
+
+    public function testAdjacentCaptionMarkerIsLiteralBlockquoteCaptionText(): void
+    {
+        $djot = "> q\n^ First\n^ Second";
+        $expected = "<figure>\n<blockquote>\n<p>q</p>\n</blockquote>\n<figcaption>First\n^ Second</figcaption>\n"
+            . "</figure>\n";
+
+        $this->assertSame($expected, $this->converter->convert($djot));
+    }
+
+    public function testTwoCaptionedTablesKeepTheirOwnCaptions(): void
+    {
+        $djot = "| A |\n|---|\n| 1 |\n^ First\n\n| B |\n|---|\n| 2 |\n^ Second";
+        $expected = "<table>\n<caption>First</caption>\n<tr>\n<th>A</th>\n</tr>\n<tr>\n<td>1</td>\n</tr>\n</table>\n"
+            . "<table>\n<caption>Second</caption>\n<tr>\n<th>B</th>\n</tr>\n<tr>\n<td>2</td>\n</tr>\n</table>\n";
+
+        $this->assertSame($expected, $this->converter->convert($djot));
+    }
+
     public function testReferenceLink(): void
     {
         $djot = "[Example][ex]\n\n[ex]: https://example.com";