diff --git a/.changes/unreleased/Fixes-20241018-150256.yaml b/.changes/unreleased/Fixes-20241018-150256.yaml
new file mode 100644
index 00000000000..bf830ea40c0
--- /dev/null
+++ b/.changes/unreleased/Fixes-20241018-150256.yaml
@@ -0,0 +1,6 @@
+kind: Fixes
+body: Prevent dbt compile from overwriting files that are passed in as absolute paths
+time: 2024-10-18T15:02:56.289808-07:00
+custom:
+    Author: Myles1
+    Issue: "10886"
diff --git a/core/dbt/contracts/graph/nodes.py b/core/dbt/contracts/graph/nodes.py
index 2d9ff77b385..196d902e59c 100644
--- a/core/dbt/contracts/graph/nodes.py
+++ b/core/dbt/contracts/graph/nodes.py
@@ -251,7 +251,7 @@ def get_target_write_path(
         # This is called for both the "compiled" subdirectory of "target" and the "run" subdirectory
         if os.path.basename(self.path) == os.path.basename(self.original_file_path):
             # One-to-one relationship of nodes to files.
-            path = self.original_file_path
+            path = self.path
         else:
             #  Many-to-one relationship of nodes to files.
             path = os.path.join(self.original_file_path, self.path)
diff --git a/tests/functional/adapter/simple_seed/test_seed.py b/tests/functional/adapter/simple_seed/test_seed.py
index 536ed7ad017..18c25713ebf 100644
--- a/tests/functional/adapter/simple_seed/test_seed.py
+++ b/tests/functional/adapter/simple_seed/test_seed.py
@@ -386,3 +386,27 @@ def test_empty_seeds(self, project):
 
 class TestEmptySeed(BaseTestEmptySeed):
     pass
+
+
+class TestAbsoluteSeedPaths:
+    """
+    This is a regression test for issue #10886.
+    We're ensuring that dbt will not overwrite files that are passed in as asbolute paths in dbt_project.yml
+    """
+
+    @pytest.fixture(scope="class")
+    def project_config_update(self, project_root):
+        # Assign an absolute path to seed-paths
+        return {
+            "seed-paths": [str(Path(project_root) / "seeds")],
+        }
+
+    @pytest.fixture(scope="class")
+    def seeds(self):
+        return {"my_seed.csv": seed__with_dots_csv}
+
+    def test_absolute_seeds_paths(self, project):
+        results = run_dbt(["seed"])
+        assert len(results) == 1
+        # Should not fail due to file being overwritten
+        results = run_dbt(["seed"])