diff --git a/.gitignore b/.gitignore
index 1799fa8e..38e890c0 100644
--- a/.gitignore
+++ b/.gitignore
@@ -18,7 +18,7 @@
 # misc
 .DS_Store
 .vscode
-.idea/
+.idea
 
 # umi
 .umi
diff --git a/docs/demo/initialValues.md b/docs/demo/initialValues.md
new file mode 100644
index 00000000..575c4ca9
--- /dev/null
+++ b/docs/demo/initialValues.md
@@ -0,0 +1,4 @@
+## initialValues
+
+
+<code src="../examples/initialValues.tsx" />
diff --git a/docs/examples/initialValues.tsx b/docs/examples/initialValues.tsx
new file mode 100644
index 00000000..28ff4372
--- /dev/null
+++ b/docs/examples/initialValues.tsx
@@ -0,0 +1,67 @@
+/* eslint-disable react/prop-types */
+
+import React, { useState } from 'react';
+import Form from 'rc-field-form';
+import Input from './components/Input';
+
+const { Field, List } = Form;
+
+const formValue = {
+  test: "test",
+  users: [{ first: "aaa", last: "bbb" }]
+};
+
+export default () => {
+  const [form] = Form.useForm();
+  const [show, setShow] = useState<boolean>(false);
+
+  return (
+    <>
+      <button onClick={() => setShow((prev) => !prev)}>switch show</button>
+      {show && (
+        <Form
+          form={form}
+          initialValues={formValue}
+          preserve={false}
+          onFinish={values => {
+            console.log('Submit:', values);
+          }}
+        >
+          <Field shouldUpdate>
+            {() => (
+              <Field name="test" preserve={false}>
+                <Input/>
+              </Field>
+            )}
+          </Field>
+          <List name="users">
+            {(fields) => (
+              <>
+                {fields.map(({ key, name, ...restField }) => (
+                  <>
+                    <Field
+                      {...restField}
+                      name={[name, "first"]}
+                      rules={[
+                        { required: true, message: "Missing first name" }
+                      ]}
+                    >
+                      <Input placeholder="First Name" />
+                    </Field>
+                    <Field
+                      {...restField}
+                      name={[name, "last"]}
+                      rules={[{ required: true, message: "Missing last name" }]}
+                    >
+                      <Input placeholder="Last Name" />
+                    </Field>
+                  </>
+                ))}
+              </>
+            )}
+          </List>
+        </Form>
+      )}
+    </>
+  );
+};
diff --git a/src/useForm.ts b/src/useForm.ts
index 8432a807..a94e7ff7 100644
--- a/src/useForm.ts
+++ b/src/useForm.ts
@@ -35,6 +35,7 @@ import {
   setValue,
   setValues,
 } from './utils/valueUtil';
+import cloneDeep from './utils/cloneDeep';
 
 type InvalidateFieldEntity = { INVALIDATE_NAME_PATH: InternalNamePath };
 
@@ -129,11 +130,13 @@ export class FormStore {
   private setInitialValues = (initialValues: Store, init: boolean) => {
     this.initialValues = initialValues || {};
     if (init) {
-      this.store = setValues({}, initialValues, this.store);
+      this.store = setValues({}, this.store, initialValues);
     }
   };
 
-  private getInitialValue = (namePath: InternalNamePath) => getValue(this.initialValues, namePath);
+  private getInitialValue = (namePath: InternalNamePath) => {
+    return cloneDeep(getValue(this.initialValues, namePath));
+  };
 
   private setCallbacks = (callbacks: Callbacks) => {
     this.callbacks = callbacks;
@@ -549,14 +552,13 @@ export class FormStore {
     // un-register field callback
     return (isListField?: boolean, preserve?: boolean, subNamePath: InternalNamePath = []) => {
       this.fieldEntities = this.fieldEntities.filter(item => item !== entity);
-
       // Clean up store value if not preserve
       const mergedPreserve = preserve !== undefined ? preserve : this.preserve;
 
       if (mergedPreserve === false && (!isListField || subNamePath.length > 1)) {
         const namePath = entity.getNamePath();
 
-        const defaultValue = isListField ? undefined : getValue(this.initialValues, namePath);
+        const defaultValue = isListField ? undefined : this.getInitialValue(namePath);
 
         if (
           namePath.length &&
diff --git a/src/utils/cloneDeep.ts b/src/utils/cloneDeep.ts
new file mode 100644
index 00000000..d12467b2
--- /dev/null
+++ b/src/utils/cloneDeep.ts
@@ -0,0 +1,25 @@
+function cloneDeep(val) {
+  if (Array.isArray(val)) {
+    return cloneArrayDeep(val);
+  } else if (typeof val === 'object' && val !== null) {
+    return cloneObjectDeep(val);
+  }
+  return val;
+}
+
+function cloneObjectDeep(val) {
+  if (Object.getPrototypeOf(val) === Object.prototype) {
+    const res = {};
+    for (const key in val) {
+      res[key] = cloneDeep(val[key]);
+    }
+    return res;
+  }
+  return val;
+}
+
+function cloneArrayDeep(val) {
+  return val.map(item => cloneDeep(item));
+}
+
+export default cloneDeep;
diff --git a/src/utils/valueUtil.ts b/src/utils/valueUtil.ts
index dd342ad7..25527bd6 100644
--- a/src/utils/valueUtil.ts
+++ b/src/utils/valueUtil.ts
@@ -2,6 +2,7 @@ import get from 'rc-util/lib/utils/get';
 import set from 'rc-util/lib/utils/set';
 import type { InternalNamePath, NamePath, Store, StoreValue, EventArgs } from '../interface';
 import { toArray } from './typeUtil';
+import cloneDeep from '../utils/cloneDeep';
 
 /**
  * Convert name to internal supported format.
@@ -64,7 +65,8 @@ function internalSetValues<T>(store: T, values: T): T {
 
     // If both are object (but target is not array), we use recursion to set deep value
     const recursive = isObject(prevValue) && isObject(value);
-    newStore[key] = recursive ? internalSetValues(prevValue, value || {}) : value;
+
+    newStore[key] = recursive ? internalSetValues(prevValue, value || {}) : cloneDeep(value); // Clone deep for arrays
   });
 
   return newStore;
diff --git a/tests/index.test.js b/tests/index.test.js
index 3168dc39..5870598a 100644
--- a/tests/index.test.js
+++ b/tests/index.test.js
@@ -726,4 +726,81 @@ describe('Form.Basic', () => {
       wrapper.find('Input').simulate('change', { event: { target: { value: 'Light' } } });
     }).not.toThrowError();
   });
+
+  it('setFieldsValue for List should work', () => {
+    const Demo = () => {
+      const [form] = useForm();
+
+      const handelReset = () => {
+        form.setFieldsValue({
+          users: [],
+        });
+      };
+
+      const initialValues = {
+        users: [{ name: '11' }, { name: '22' }],
+      };
+
+      return (
+        <Form
+          form={form}
+          initialValues={initialValues}
+          name="dynamic_form_nest_item"
+          autoComplete="off"
+        >
+          <Form.List name="users">
+            {(fields, { add, remove }) => (
+              <>
+                {fields.map(({ key, name, ...restField }) => (
+                  <Field
+                    key={key}
+                    {...restField}
+                    name={[name, 'name']}
+                    rules={[{ required: true, message: 'Missing name' }]}
+                  >
+                    <Input placeholder="Name" />
+                  </Field>
+                ))}
+              </>
+            )}
+          </Form.List>
+          <Field>
+            <button className="reset-btn" onClick={handelReset}>
+              reset
+            </button>
+          </Field>
+        </Form>
+      );
+    };
+
+    const wrapper = mount(<Demo />);
+    expect(wrapper.find('input').first().getDOMNode().value).toBe('11');
+    wrapper.find('.reset-btn').first().simulate('click');
+    expect(wrapper.find('input').length).toBe(0);
+  });
+
+  it('setFieldsValue should work for multiple Select', () => {
+    const Select = ({ value, defaultValue }) => {
+      return <div className="select-div">{(value || defaultValue || []).toString()}</div>;
+    };
+
+    const Demo = () => {
+      const [formInstance] = Form.useForm();
+
+      React.useEffect(() => {
+        formInstance.setFieldsValue({ selector: ['K1', 'K2'] });
+      }, [formInstance]);
+
+      return (
+        <Form form={formInstance}>
+          <Field initialValue="K1" name="selector">
+            <Select />
+          </Field>
+        </Form>
+      );
+    };
+
+    const wrapper = mount(<Demo />);
+    expect(wrapper.find('.select-div').text()).toBe('K1,K2');
+  });
 });
diff --git a/tests/initialValue.test.js b/tests/initialValue.test.js
index f6ced1eb..80a8162f 100644
--- a/tests/initialValue.test.js
+++ b/tests/initialValue.test.js
@@ -1,7 +1,7 @@
-import React from 'react';
+import React, { useState } from 'react';
 import { mount } from 'enzyme';
 import { resetWarned } from 'rc-util/lib/warning';
-import Form, { Field, useForm } from '../src';
+import Form, { Field, useForm, List } from '../src';
 import { Input } from './common/InfoField';
 import { changeValue, getField } from './common';
 
@@ -47,16 +47,8 @@ describe('Form.InitialValues', () => {
         path2: 'Bamboo',
       },
     });
-    expect(
-      getField(wrapper, 'username')
-        .find('input')
-        .props().value,
-    ).toEqual('Light');
-    expect(
-      getField(wrapper, ['path1', 'path2'])
-        .find('input')
-        .props().value,
-    ).toEqual('Bamboo');
+    expect(getField(wrapper, 'username').find('input').props().value).toEqual('Light');
+    expect(getField(wrapper, ['path1', 'path2']).find('input').props().value).toEqual('Bamboo');
   });
 
   it('update and reset should use new initialValues', () => {
@@ -91,11 +83,7 @@ describe('Form.InitialValues', () => {
     expect(form.getFieldsValue()).toEqual({
       username: 'Bamboo',
     });
-    expect(
-      getField(wrapper, 'username')
-        .find('input')
-        .props().value,
-    ).toEqual('Bamboo');
+    expect(getField(wrapper, 'username').find('input').props().value).toEqual('Bamboo');
 
     // Should not change it
     wrapper.setProps({ initialValues: { username: 'Light' } });
@@ -103,11 +91,7 @@ describe('Form.InitialValues', () => {
     expect(form.getFieldsValue()).toEqual({
       username: 'Bamboo',
     });
-    expect(
-      getField(wrapper, 'username')
-        .find('input')
-        .props().value,
-    ).toEqual('Bamboo');
+    expect(getField(wrapper, 'username').find('input').props().value).toEqual('Bamboo');
 
     // Should change it
     form.resetFields();
@@ -116,11 +100,68 @@ describe('Form.InitialValues', () => {
     expect(form.getFieldsValue()).toEqual({
       username: 'Light',
     });
-    expect(
-      getField(wrapper, 'username')
-        .find('input')
-        .props().value,
-    ).toEqual('Light');
+    expect(getField(wrapper, 'username').find('input').props().value).toEqual('Light');
+  });
+
+  it(`initialValues shouldn't be modified if preserve is false`, () => {
+    const formValue = {
+      test: 'test',
+      users: [{ first: 'aaa', last: 'bbb' }],
+    };
+
+    const Demo = () => {
+      const [form] = Form.useForm();
+      const [show, setShow] = useState(false);
+
+      return (
+        <>
+          <button onClick={() => setShow(prev => !prev)}>switch show</button>
+          {show && (
+            <Form form={form} initialValues={formValue} preserve={false}>
+              <Field shouldUpdate>
+                {() => (
+                  <Field name="test" preserve={false}>
+                    <Input />
+                  </Field>
+                )}
+              </Field>
+              <List name="users">
+                {fields => (
+                  <>
+                    {fields.map(({ key, name, ...restField }) => (
+                      <>
+                        <Field
+                          {...restField}
+                          name={[name, 'first']}
+                          rules={[{ required: true, message: 'Missing first name' }]}
+                        >
+                          <Input className="first-name-input" placeholder="First Name" />
+                        </Field>
+                        <Field
+                          {...restField}
+                          name={[name, 'last']}
+                          rules={[{ required: true, message: 'Missing last name' }]}
+                        >
+                          <Input placeholder="Last Name" />
+                        </Field>
+                      </>
+                    ))}
+                  </>
+                )}
+              </List>
+            </Form>
+          )}
+        </>
+      );
+    };
+
+    const wrapper = mount(<Demo />);
+    wrapper.find('button').simulate('click');
+    expect(formValue.users[0].last).toEqual('bbb');
+    wrapper.find('button').simulate('click');
+    expect(formValue.users[0].last).toEqual('bbb');
+    wrapper.find('button').simulate('click');
+    expect(wrapper.find('.first-name-input').first().find('input').instance().value).toEqual('aaa');
   });
 
   describe('Field with initialValue', () => {
@@ -237,21 +278,12 @@ describe('Form.InitialValues', () => {
       expect(wrapper.find('input').props().value).toEqual('story');
 
       // First reset will get nothing
-      wrapper
-        .find('button')
-        .first()
-        .simulate('click');
+      wrapper.find('button').first().simulate('click');
       expect(wrapper.find('input').props().value).toEqual('');
 
       // Change field initialValue and reset
-      wrapper
-        .find('button')
-        .last()
-        .simulate('click');
-      wrapper
-        .find('button')
-        .first()
-        .simulate('click');
+      wrapper.find('button').last().simulate('click');
+      wrapper.find('button').first().simulate('click');
       expect(wrapper.find('input').props().value).toEqual('light');
     });
 
diff --git a/tests/utils.test.js b/tests/utils.test.js
index 6d727a8b..7bc47894 100644
--- a/tests/utils.test.js
+++ b/tests/utils.test.js
@@ -1,5 +1,6 @@
 import { move, isSimilar, setValues } from '../src/utils/valueUtil';
 import NameMap from '../src/utils/NameMap';
+import cloneDeep from '../src/utils/cloneDeep';
 
 describe('utils', () => {
   describe('arrayMove', () => {
@@ -71,4 +72,12 @@ describe('utils', () => {
       });
     });
   });
+
+  describe('clone deep', () => {
+    it('should not deep clone Class', () => {
+      const data = { a: new Date() };
+      const clonedData = cloneDeep(data);
+      expect(data.a === clonedData.a).toBeTruthy();
+    });
+  });
 });