diff --git a/Doc/c-api/dict.rst b/Doc/c-api/dict.rst
index 49a78583a6f..b4fdf47bc91 100644
--- a/Doc/c-api/dict.rst
+++ b/Doc/c-api/dict.rst
@@ -290,6 +290,17 @@ Dictionary Objects
           Py_DECREF(o);
       }
 
+   The function is not thread-safe in the :term:`free-threaded <free threading>`
+   build without external synchronization.  You can use
+   :c:macro:`Py_BEGIN_CRITICAL_SECTION` to lock the dictionary while iterating
+   over it::
+
+      Py_BEGIN_CRITICAL_SECTION(self->dict);
+      while (PyDict_Next(self->dict, &pos, &key, &value)) {
+          ...
+      }
+      Py_END_CRITICAL_SECTION();
+
 
 .. c:function:: int PyDict_Merge(PyObject *a, PyObject *b, int override)
 
diff --git a/Doc/howto/free-threading-extensions.rst b/Doc/howto/free-threading-extensions.rst
index 080170de1e5..1ba91b09516 100644
--- a/Doc/howto/free-threading-extensions.rst
+++ b/Doc/howto/free-threading-extensions.rst
@@ -114,6 +114,24 @@ Containers like :c:struct:`PyListObject`,
 in the free-threaded build.  For example, the :c:func:`PyList_Append` will
 lock the list before appending an item.
 
+.. _PyDict_Next:
+
+``PyDict_Next``
+'''''''''''''''
+
+A notable exception is :c:func:`PyDict_Next`, which does not lock the
+dictionary.  You should use :c:macro:`Py_BEGIN_CRITICAL_SECTION` to protect
+the dictionary while iterating over it if the dictionary may be concurrently
+modified::
+
+    Py_BEGIN_CRITICAL_SECTION(dict);
+    PyObject *key, *value;
+    Py_ssize_t pos = 0;
+    while (PyDict_Next(dict, &pos, &key, &value)) {
+        ...
+    }
+    Py_END_CRITICAL_SECTION();
+
 
 Borrowed References
 ===================
@@ -141,7 +159,7 @@ that return :term:`strong references <strong reference>`.
 +-----------------------------------+-----------------------------------+
 | :c:func:`PyDict_SetDefault`       | :c:func:`PyDict_SetDefaultRef`    |
 +-----------------------------------+-----------------------------------+
-| :c:func:`PyDict_Next`             | no direct replacement             |
+| :c:func:`PyDict_Next`             | none (see :ref:`PyDict_Next`)     |
 +-----------------------------------+-----------------------------------+
 | :c:func:`PyWeakref_GetObject`     | :c:func:`PyWeakref_GetRef`        |
 +-----------------------------------+-----------------------------------+
diff --git a/Misc/NEWS.d/next/C API/2024-06-21-16-41-21.gh-issue-120858.Z5_-Mn.rst b/Misc/NEWS.d/next/C API/2024-06-21-16-41-21.gh-issue-120858.Z5_-Mn.rst
new file mode 100644
index 00000000000..b5df2a567b9
--- /dev/null
+++ b/Misc/NEWS.d/next/C API/2024-06-21-16-41-21.gh-issue-120858.Z5_-Mn.rst	
@@ -0,0 +1,3 @@
+:c:func:`PyDict_Next` no longer locks the dictionary in the free-threaded
+build.  The locking needs to be done by the caller around the entire iteration
+loop.
diff --git a/Objects/dictobject.c b/Objects/dictobject.c
index 5529e527d8b..5d325465608 100644
--- a/Objects/dictobject.c
+++ b/Objects/dictobject.c
@@ -2808,8 +2808,6 @@ _PyDict_Next(PyObject *op, Py_ssize_t *ppos, PyObject **pkey,
     if (!PyDict_Check(op))
         return 0;
 
-    ASSERT_DICT_LOCKED(op);
-
     mp = (PyDictObject *)op;
     i = *ppos;
     if (_PyDict_HasSplitTable(mp)) {
@@ -2882,11 +2880,7 @@ _PyDict_Next(PyObject *op, Py_ssize_t *ppos, PyObject **pkey,
 int
 PyDict_Next(PyObject *op, Py_ssize_t *ppos, PyObject **pkey, PyObject **pvalue)
 {
-    int res;
-    Py_BEGIN_CRITICAL_SECTION(op);
-    res = _PyDict_Next(op, ppos, pkey, pvalue, NULL);
-    Py_END_CRITICAL_SECTION();
-    return res;
+    return _PyDict_Next(op, ppos, pkey, pvalue, NULL);
 }