diff --git a/src/model/Global.ts b/src/model/Global.ts
index 32b8b769f9..eb072895de 100644
--- a/src/model/Global.ts
+++ b/src/model/Global.ts
@@ -141,7 +141,11 @@ const componetsMissingLogPrinted: Record<string, boolean> = {};
 
 function checkMissingComponents(option: ECUnitOption) {
     each(option, function (componentOption, mainType: ComponentMainType) {
-        if (!ComponentModel.hasClass(mainType)) {
+        // A `null`/`undefined` option value means the component is not actually
+        // used and should not be reported as missing. For example, `parseRawOption`
+        // injects an empty `timeline` entry into `baseOption` when using the
+        // `{ baseOption, media }` form without a `timeline`. See #21686.
+        if (componentOption != null && !ComponentModel.hasClass(mainType)) {
             const componentImportName = BUITIN_COMPONENTS_MAP[mainType as keyof typeof BUITIN_COMPONENTS_MAP];
             if (componentImportName && !componetsMissingLogPrinted[componentImportName]) {
                 error(`Component ${mainType} is used but not imported.
diff --git a/test/ut/spec/model/componentMissing.test.ts b/test/ut/spec/model/componentMissing.test.ts
index bfbe58a810..c7fa87e7c2 100644
--- a/test/ut/spec/model/componentMissing.test.ts
+++ b/test/ut/spec/model/componentMissing.test.ts
@@ -149,4 +149,33 @@ describe('model_componentMissing', function () {
 
         console.error = oldConsoleErr;
     });
+
+    it('Should not report timeline component missing error for media-only option without timeline', function () {
+        // See #21686: when using the full `{ baseOption, media }` form without a
+        // `timeline`, an empty `timeline` entry was injected into `baseOption`,
+        // which was wrongly reported as a missing `TimelineComponent`.
+        const chart = createChart();
+        console.error = jest.fn();
+        chart.setOption<EChartsOption>({
+            baseOption: {
+                series: [{
+                    type: 'pie'
+                }]
+            },
+            media: [{
+                query: { maxWidth: 500 },
+                option: {
+                    series: [{
+                        type: 'pie',
+                        radius: '50%'
+                    }]
+                }
+            }]
+        });
+        expect(console.error).not.toHaveBeenCalledWith(
+            makeComponentError('timeline', 'TimelineComponent')
+        );
+
+        console.error = oldConsoleErr;
+    });
 });
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