diff --git a/esphome/components/esp32/__init__.py b/esphome/components/esp32/__init__.py
index 0c02f6fbee..90f6035aba 100644
--- a/esphome/components/esp32/__init__.py
+++ b/esphome/components/esp32/__init__.py
@@ -1467,7 +1467,7 @@ async def to_code(config):
                     [_format_framework_espidf_version(idf_ver, None)],
                 )
                 # Use stub package to skip downloading precompiled libs
-                stubs_dir = CORE.relative_build_path("arduino-libs-stub")
+                stubs_dir = CORE.relative_build_path("arduino_libs_stub")
                 cg.add_platformio_option(
                     "platform_packages", [f"{ARDUINO_LIBS_PKG}@file://{stubs_dir}"]
                 )