diff --git a/CHANGES/1490.bugfix b/CHANGES/1490.bugfix
new file mode 100644
index 000000000..8c222a2f4
--- /dev/null
+++ b/CHANGES/1490.bugfix
@@ -0,0 +1 @@
+aioredis.TimeoutError inherits only builtins.TimeoutError when Python asyncio.TimeoutError == builtins.TimeoutError.
diff --git a/CONTRIBUTORS.txt b/CONTRIBUTORS.txt
index 36953225a..37bbe5ed6 100644
--- a/CONTRIBUTORS.txt
+++ b/CONTRIBUTORS.txt
@@ -37,6 +37,7 @@ Ivan Antonyuck
 James Hilliard
 Jan Špaček
 Jeff Moser
+Jeong, YunWon <youknowone>
 Joongi Kim <achimnol>
 Kyrylo Dehtyarenko
 Leonid Shvechikov
diff --git a/aioredis/exceptions.py b/aioredis/exceptions.py
index e4c2ed1e4..9cf3a3a3d 100644
--- a/aioredis/exceptions.py
+++ b/aioredis/exceptions.py
@@ -10,9 +10,12 @@ class RedisError(Exception):
 class ConnectionError(RedisError):
     pass
 
-
-class TimeoutError(asyncio.TimeoutError, builtins.TimeoutError, RedisError):
-    pass
+if asyncio.TimeoutError is builtins.TimeoutError:  # >= Python 3.11
+    class TimeoutError(builtins.TimeoutError, RedisError):
+        pass
+else:
+    class TimeoutError(asyncio.TimeoutError, builtins.TimeoutError, RedisError):
+        pass
 
 
 class AuthenticationError(ConnectionError):