One embodiment of the present invention provides a system that facilitates efficiently resolving symbolic references in a virtual machine to support in-place execution. During operation, the system loads an in-place executable file into the virtual machine, and receives a pointer that points to an unresolved symbol value in the in-place executable file. This unresolved symbol value includes an offset value that points to a subsequent unresolved symbol value in a chain of unresolved symbol values within the in-place executable file, and a token value that can be used to look up a corresponding resolved reference value in an unresolved symbol table. The system then uses the token value to look up the corresponding resolved reference in the unresolved symbol table, and replaces the unresolved symbol value with the corresponding resolved reference.