diff --git a/addon/initializers/install-function-helper-manager.ts b/addon/initializers/install-function-helper-manager.ts
index 64be1e1..0aa585b 100644
--- a/addon/initializers/install-function-helper-manager.ts
+++ b/addon/initializers/install-function-helper-manager.ts
@@ -3,7 +3,10 @@
 // typed-ember doesn't have types for `@ember/helper` yet
 // eslint-disable-next-line @typescript-eslint/ban-ts-comment
 // @ts-ignore
-import { capabilities as helperCapabilities, setHelperManager } from '@ember/helper';
+import {
+  capabilities as helperCapabilities,
+  setHelperManager,
+} from '@ember/helper';
 
 import type { Arguments } from '../-private/local-glimmer-interfaces-types';
 
@@ -18,6 +21,8 @@ export default {
   initialize,
 };
 
+type Owner = unknown;
+
 type FnArgs<Args extends Arguments = Arguments> =
   | [...Args['positional'], Args['named']]
   | [...Args['positional']];
@@ -36,6 +41,8 @@ export class FunctionHelperManager {
     hasScheduledEffect: false,
   });
 
+  owner?: Owner = undefined;
+
   createHelper(fn: AnyFunction, args: Arguments): State {
     return { fn, args };
   }
@@ -44,10 +51,10 @@ export class FunctionHelperManager {
     if (Object.keys(args.named).length > 0) {
       let argsForFn: FnArgs<Arguments> = [...args.positional, args.named];
 
-      return fn(...argsForFn);
+      return fn.apply(this.owner, argsForFn);
     }
 
-    return fn(...args.positional);
+    return fn.apply(this.owner, args.positional);
   }
 
   getDebugName(fn: AnyFunction): string {
@@ -61,4 +68,10 @@ export class FunctionHelperManager {
 
 const FUNCTIONAL_HELPER_MANAGER = new FunctionHelperManager();
 
-setHelperManager(() => FUNCTIONAL_HELPER_MANAGER, Function.prototype);
+setHelperManager(
+  (owner: Owner) =>
+    Object.create(FUNCTIONAL_HELPER_MANAGER, {
+      owner: { value: owner, writable: false, configurable: false },
+    }),
+  Function.prototype
+);
diff --git a/tests/rendering/functions-test.ts b/tests/rendering/functions-test.ts
index 4c4bc38..23ef64a 100644
--- a/tests/rendering/functions-test.ts
+++ b/tests/rendering/functions-test.ts
@@ -4,6 +4,16 @@ import { hbs } from 'ember-cli-htmlbars';
 import { module, test } from 'qunit';
 import { setupRenderingTest } from 'ember-qunit';
 
+interface Owner {
+  lookup(
+    key: string,
+    options?: {
+      singleton?: boolean | undefined;
+      instantiate?: boolean | undefined;
+    }
+  ): unknown;
+}
+
 module('function helpers', function (hooks) {
   setupRenderingTest(hooks);
 
@@ -100,4 +110,29 @@ module('function helpers', function (hooks) {
       'x is 4, and opts.a is 6',
     ]);
   });
+
+  test('the owner is bound as `this` context', async function (assert) {
+    function lookup(
+      this: Owner,
+      identifier: string,
+      options?: object
+    ): unknown {
+      return this.lookup(identifier, options);
+    }
+
+    const testIdentifier = 'test-value:foo';
+    const testValue = 'foo';
+
+    this.owner.register(
+      testIdentifier,
+      { string: testValue },
+      { instantiate: false }
+    );
+
+    this.setProperties({ lookup, testIdentifier });
+
+    await render(hbs`{{get (this.lookup this.testIdentifier) "string"}}`);
+
+    assert.dom().hasText(testValue);
+  });
 });