diff --git a/packages/eslint-plugin/src/rules/no-shadow.ts b/packages/eslint-plugin/src/rules/no-shadow.ts
index e8dc7a260f8d..3164b9cf794a 100644
--- a/packages/eslint-plugin/src/rules/no-shadow.ts
+++ b/packages/eslint-plugin/src/rules/no-shadow.ts
@@ -199,7 +199,7 @@ export default util.createRule<Options, MessageIds>({
       return methodDefinition.static;
     }
 
-    function isGenericOfClassDecl(variable: TSESLint.Scope.Variable): boolean {
+    function isGenericOfClass(variable: TSESLint.Scope.Variable): boolean {
       if (!('isTypeVariable' in variable)) {
         // this shouldn't happen...
         return false;
@@ -224,16 +224,17 @@ export default util.createRule<Options, MessageIds>({
         return false;
       }
       const classDecl = typeParameterDecl.parent;
-      return classDecl?.type === AST_NODE_TYPES.ClassDeclaration;
+      return (
+        classDecl?.type === AST_NODE_TYPES.ClassDeclaration ||
+        classDecl?.type === AST_NODE_TYPES.ClassExpression
+      );
     }
 
     function isGenericOfAStaticMethodShadow(
       variable: TSESLint.Scope.Variable,
       shadowed: TSESLint.Scope.Variable,
     ): boolean {
-      return (
-        isGenericOfStaticMethod(variable) && isGenericOfClassDecl(shadowed)
-      );
+      return isGenericOfStaticMethod(variable) && isGenericOfClass(shadowed);
     }
 
     function isImportDeclaration(
diff --git a/packages/eslint-plugin/tests/rules/no-shadow/no-shadow.test.ts b/packages/eslint-plugin/tests/rules/no-shadow/no-shadow.test.ts
index ae00139d9821..277233d88d68 100644
--- a/packages/eslint-plugin/tests/rules/no-shadow/no-shadow.test.ts
+++ b/packages/eslint-plugin/tests/rules/no-shadow/no-shadow.test.ts
@@ -220,6 +220,17 @@ export class Wrapper<Wrapped> {
   static create<Wrapped>(wrapped: Wrapped) {
     return new Wrapper<Wrapped>(wrapped);
   }
+}
+    `,
+    `
+function makeA() {
+  return class A<T> {
+    constructor(public value: T) {}
+
+    static make<T>(value: T) {
+      return new A<T>(value);
+    }
+  };
 }
     `,
     {