diff --git a/vllm/core/evictor.py b/vllm/core/evictor.py
index ed7e06cab2996..44adc4158abec 100644
--- a/vllm/core/evictor.py
+++ b/vllm/core/evictor.py
@@ -1,6 +1,7 @@
 import enum
+import heapq
 from abc import ABC, abstractmethod
-from typing import OrderedDict, Tuple
+from typing import Dict, List, Tuple
 
 
 class EvictionPolicy(enum.Enum):
@@ -75,8 +76,14 @@ class LRUEvictor(Evictor):
     highest num_hashed_tokens value, then one will be chose arbitrarily
     """
 
+    # CLEANUP_THRESHOLD determines the maximum allowable size of the priority
+    # queue relative to the free table size. When this threshold is exceeded,
+    # a cleanup operation is triggered to reduce memory usage.
+    CLEANUP_THRESHOLD = 50
+
     def __init__(self):
-        self.free_table: OrderedDict[int, BlockMetaData] = OrderedDict()
+        self.free_table: Dict[int, BlockMetaData] = {}
+        self.priority_queue = []
 
     def __contains__(self, block_id: int) -> bool:
         return block_id in self.free_table
@@ -85,34 +92,50 @@ def evict(self) -> Tuple[int, int]:
         if len(self.free_table) == 0:
             raise ValueError("No usable cache memory left")
 
-        evicted_block, evicted_block_id = None, None
-        # The blocks with the lowest timestamps should be placed consecutively
-        # at the start of OrderedDict. Loop through all these blocks to
-        # find the one with maximum number of hashed tokens.
-        for _id, block in self.free_table.items():
-            if evicted_block is None:
-                evicted_block, evicted_block_id = block, _id
-                continue
-            if evicted_block.last_accessed < block.last_accessed:
-                break
-            if evicted_block.num_hashed_tokens < block.num_hashed_tokens:
-                evicted_block, evicted_block_id = block, _id
-
-        assert evicted_block is not None
-        assert evicted_block_id is not None
-        self.free_table.pop(evicted_block_id)
-
-        return evicted_block_id, evicted_block.content_hash
+        while self.priority_queue:
+            # We do not remove outdated entries from the priority queue at the
+            # time of updating the last_accessed timestamp. Instead, outdated
+            # entries are filtered out here during eviction. Outdated entries
+            # would either not in the free table, or have older last accessed
+            # time.
+            last_accessed, _, block_id, content_hash = heapq.heappop(
+                self.priority_queue)
+            if (block_id in self.free_table and
+                    self.free_table[block_id].last_accessed == last_accessed):
+                self.free_table.pop(block_id)
+                return block_id, content_hash
+
+        raise ValueError("No usable cache memory left")
 
     def add(self, block_id: int, content_hash: int, num_hashed_tokens: int,
             last_accessed: float):
         self.free_table[block_id] = BlockMetaData(content_hash,
                                                   num_hashed_tokens,
                                                   last_accessed)
+        heapq.heappush(
+            self.priority_queue,
+            (last_accessed, -num_hashed_tokens, block_id, content_hash))
+        self._cleanup_if_necessary()
 
     def update(self, block_id: int, last_accessed: float):
         self.free_table[block_id].last_accessed = last_accessed
 
+    def _cleanup_if_necessary(self):
+        if len(self.priority_queue) > LRUEvictor.CLEANUP_THRESHOLD * len(
+                self.free_table):
+            self._cleanup()
+
+    def _cleanup(self):
+        new_priority_queue: List[Tuple[float, int, int, int]] = []
+
+        for block_id, block in self.free_table.items():
+            new_priority_queue.append(
+                (block.last_accessed, -block.num_hashed_tokens, block_id,
+                 block.content_hash))
+        heapq.heapify(new_priority_queue)
+
+        self.priority_queue = new_priority_queue
+
     def remove(self, block_id: int):
         if block_id not in self.free_table:
             raise ValueError(