diff --git a/core/config/engine.h b/core/config/engine.h
index 7e617d8773a..ddb11116d1f 100644
--- a/core/config/engine.h
+++ b/core/config/engine.h
@@ -62,7 +62,9 @@ private:
 
 	int ips = 60;
 	double physics_jitter_fix = 0.5;
-	double _fps = 1;
+	// Assume to be rendering at 60 FPS at first, so that the FPS counter can
+	// smoothly interpolate from that value (which is more realistic than going up from 1 FPS).
+	double _fps = 60;
 	int _max_fps = 0;
 	int _audio_output_latency = 0;
 	double _time_scale = 1.0;
diff --git a/core/math/math_defs.h b/core/math/math_defs.h
index fe53121a038..cb0b9a7067b 100644
--- a/core/math/math_defs.h
+++ b/core/math/math_defs.h
@@ -56,7 +56,7 @@
 #define UNIT_EPSILON 0.001
 #endif
 
-#define USEC_TO_SEC(m_usec) ((m_usec) / 1000000.0)
+#define USEC_TO_SEC(m_usec) ((m_usec) * 0.000'001)
 
 enum ClockDirection {
 	CLOCKWISE,
diff --git a/doc/classes/Engine.xml b/doc/classes/Engine.xml
index ca78054875b..b85bf2c3e49 100644
--- a/doc/classes/Engine.xml
+++ b/doc/classes/Engine.xml
@@ -64,7 +64,8 @@
 		<method name="get_frames_per_second" qualifiers="const">
 			<return type="float" />
 			<description>
-				Returns the average frames rendered every second (FPS), also known as the framerate.
+				Returns the average frames rendered every second (FPS), also known as the framerate. This uses an averaging algorithm to smooth out the reported FPS over (roughly) the last second.¨
+				[b]Note:[/b] Comparing performance is usually better done using [i]milliseconds per frame[/i] (mspf) instead of [i]frames per second[/i], as mspf measurements are linear across the entire spectrum of values. To get the milliseconds per frame, use [code]1000.0 / Engine.get_frames_per_second()[/code].
 			</description>
 		</method>
 		<method name="get_license_info" qualifiers="const">
diff --git a/main/main.cpp b/main/main.cpp
index e1d53e7f1be..ea35cadb07b 100644
--- a/main/main.cpp
+++ b/main/main.cpp
@@ -4141,7 +4141,13 @@ bool Main::iteration() {
 	frames++;
 	Engine::get_singleton()->_process_frames++;
 
-	if (frame > 1000000) {
+	// Smoothly update FPS over time, while ensuring the speed at which FPS stabilizes is not dependent on FPS.
+	// The FPS smooth factor is tuned to always *mostly* converge within a second.
+	constexpr int FPS_SMOOTH_FACTOR = 5;
+	const double ratio = MIN(1.0, FPS_SMOOTH_FACTOR * USEC_TO_SEC(ticks_elapsed));
+	Engine::get_singleton()->_fps = Engine::get_singleton()->_fps * (1 - ratio) + ratio * 1'000'000.0 / ticks_elapsed;
+
+	if (frame > 1'000'000) {
 		// Wait a few seconds before printing FPS, as FPS reporting just after the engine has started is inaccurate.
 		if (hide_print_fps_attempts == 0) {
 			if (editor || project_manager) {
@@ -4155,7 +4161,6 @@ bool Main::iteration() {
 			hide_print_fps_attempts--;
 		}
 
-		Engine::get_singleton()->_fps = frames;
 		performance->set_process_time(USEC_TO_SEC(process_max));
 		performance->set_physics_process_time(USEC_TO_SEC(physics_process_max));
 		performance->set_navigation_process_time(USEC_TO_SEC(navigation_process_max));
@@ -4163,7 +4168,7 @@ bool Main::iteration() {
 		physics_process_max = 0;
 		navigation_process_max = 0;
 
-		frame %= 1000000;
+		frame %= 1'000'000;
 		frames = 0;
 	}
 
diff --git a/main/performance.cpp b/main/performance.cpp
index 8eda697b16d..3c66a40ba2e 100644
--- a/main/performance.cpp
+++ b/main/performance.cpp
@@ -150,7 +150,7 @@ String Performance::get_monitor_name(Monitor p_monitor) const {
 double Performance::get_monitor(Monitor p_monitor) const {
 	switch (p_monitor) {
 		case TIME_FPS:
-			return Engine::get_singleton()->get_frames_per_second();
+			return Math::round(Engine::get_singleton()->get_frames_per_second());
 		case TIME_PROCESS:
 			return _process_time;
 		case TIME_PHYSICS_PROCESS: