diff --git a/Python/errors.c b/Python/errors.c
index 98910b44908764..2926ea1918e681 100644
--- a/Python/errors.c
+++ b/Python/errors.c
@@ -110,6 +110,7 @@ PyErr_SetObject(PyObject *exception, PyObject *value)
             fixed_value = _PyErr_CreateException(exception, value);
             Py_XDECREF(value);
             if (fixed_value == NULL) {
+                Py_DECREF(exc_value);
                 return;
             }