diff --git a/src/main/kotlin/com/fasterxml/jackson/module/kotlin/KotlinValueInstantiator.kt b/src/main/kotlin/com/fasterxml/jackson/module/kotlin/KotlinValueInstantiator.kt
index 0b0c341d6..11e1d36ba 100644
--- a/src/main/kotlin/com/fasterxml/jackson/module/kotlin/KotlinValueInstantiator.kt
+++ b/src/main/kotlin/com/fasterxml/jackson/module/kotlin/KotlinValueInstantiator.kt
@@ -97,8 +97,13 @@ internal class KotlinValueInstantiator(
                 }
                 tempParamVal
             } else {
-                // trying to get suitable "missing" value provided by deserializer
-                jsonProp.valueDeserializer?.getNullValue(ctxt)
+                if(paramDef.type.isMarkedNullable) {
+                    // do not try to create any object if it is nullable
+                    null
+                } else {
+                    // trying to get suitable "missing" value provided by deserializer
+                    jsonProp.valueDeserializer?.getNullValue(ctxt)
+                }
             }
 
             if (paramVal == null && ((nullToEmptyCollection && jsonProp.type.isCollectionLikeType) || (nullToEmptyMap && jsonProp.type.isMapLikeType))) {
diff --git a/src/test/kotlin/com/fasterxml/jackson/module/kotlin/test/github/Github490.kt b/src/test/kotlin/com/fasterxml/jackson/module/kotlin/test/github/Github490.kt
new file mode 100644
index 000000000..c8bf67229
--- /dev/null
+++ b/src/test/kotlin/com/fasterxml/jackson/module/kotlin/test/github/Github490.kt
@@ -0,0 +1,58 @@
+package com.fasterxml.jackson.module.kotlin.test.github
+
+import com.fasterxml.jackson.databind.JsonNode
+import com.fasterxml.jackson.module.kotlin.jacksonObjectMapper
+import com.fasterxml.jackson.module.kotlin.readValue
+import org.hamcrest.CoreMatchers
+import org.hamcrest.MatcherAssert.assertThat
+import org.junit.Test
+
+class Github490 {
+
+    @Test
+    fun testKotlinDeserialization() {
+        val mapper = jacksonObjectMapper()
+        val value: DataClassWithAllNullableParams = mapper.readValue("{" +
+                "\"jsonNodeValueWithNullAsDefaultProvidedNull\":null, " +
+                "\"jsonNodeValueProvidedNull\":null}")
+        assertThat(
+            "Nullable missing Int value should be deserialized as null",
+            value.intValue,
+            CoreMatchers.nullValue()
+        )
+        assertThat(
+            "Nullable missing String value should be deserialized as null",
+            value.stringValue,
+            CoreMatchers.nullValue()
+        )
+        assertThat(
+            "Nullable missing JsonNode value should be deserialized as null and not as NullNode",
+            value.jsonNodeValue,
+            CoreMatchers.nullValue()
+        )
+        assertThat(
+            "Nullable missing JsonNode value should be deserialized as null and not as NullNode",
+            value.jsonNodeValueProvidedNull,
+            CoreMatchers.nullValue()
+        )
+        assertThat(
+            "Nullable by default missing JsonNode value should be deserialized as null and not as NullNode",
+            value.jsonNodeValueWithNullAsDefault,
+            CoreMatchers.nullValue()
+        )
+        assertThat(
+            "Nullable by default JsonNode with provided null value in payload should be deserialized as null and not as NullNode",
+            value.jsonNodeValueWithNullAsDefaultProvidedNull,
+            CoreMatchers.nullValue()
+        )
+    }
+}
+
+data class DataClassWithAllNullableParams(
+    val intValue: Int?,
+    val stringValue: String?,
+    val jsonNodeValue: JsonNode?,
+    val jsonNodeValueProvidedNull: JsonNode?,
+    val jsonNodeValueWithNullAsDefault: JsonNode? = null,
+    val jsonNodeValueWithNullAsDefaultProvidedNull: JsonNode? = null
+)
\ No newline at end of file