diff --git a/Doc/library/functools.rst b/Doc/library/functools.rst
index 7da59cba5170b3..d5db1beb91e912 100644
--- a/Doc/library/functools.rst
+++ b/Doc/library/functools.rst
@@ -122,6 +122,51 @@ The :mod:`!functools` module defines the following functions:
       Python 3.12+ this locking is removed.
 
 
+.. decorator:: cached_method(func)
+               cached_method(maxsize=128, typed=False)
+
+   Decorator to wrap a method with a bounded or unbounded cache.
+
+   When :func:`cache` or :func:`lru_cache` are used on an instance method, the
+   instance (``self``) will be stored in the cache. As a result, instances cannot be
+   garbage collected until the relevant caches are cleared.
+   This decorator uses :func:`lru_cache`, but it wraps the unbound method to accept
+   a weakref and ensures that caches are cleared when instances are garbage collected.
+
+   This is useful for expensive computations which are consistent with respect to
+   an instance, for example, those which depend only on immutable attributes.
+
+   Example::
+
+       class DataSet:
+
+           def __init__(self, sequence_of_ints):
+               self._data = tuple(sequence_of_ints)
+
+           @cached_method
+           def shifted(self, shift):
+               return DataSet([value + shift for value in self._data])
+
+   On instances, :func:`cached_method` behaves very similarly to :func:`cache`,
+   providing :func:`!cache_info` and :func:`!cache_clear`.
+
+   The *cached_method* does not prevent all possible race conditions in
+   multi-threaded usage. The function could run more than once on the
+   same instance, with the same inputs, with the latest run setting the cached
+   value. The per-instance cache is lazily initialized on first access (via the
+   descriptor protocol), so parallel access on a single instance can race to
+   initialize.
+
+   This decorator requires that the each instance supports weak references.
+   Some immutable types and slotted classes without ``__weakref__`` as one of
+   the defined slots will encounter errors when the cached method is first used.
+
+   *maxsize* and *typed* are supported as keyword arguments to the decorator,
+   and are passed to the underlying :func:`lru_cache`.
+
+   .. versionadded:: 3.16
+
+
 .. function:: cmp_to_key(func)
 
    Transform an old-style comparison function to a :term:`key function`.  Used
diff --git a/Lib/functools.py b/Lib/functools.py
index 409b2c50478c40..23cd43165b8392 100644
--- a/Lib/functools.py
+++ b/Lib/functools.py
@@ -16,7 +16,7 @@
 
 from abc import get_cache_token
 from collections import namedtuple
-# import weakref  # Deferred to single_dispatch()
+# import weakref  # Deferred to single_dispatch() and cached_method()
 from operator import itemgetter
 from reprlib import recursive_repr
 from types import FunctionType, GenericAlias, MethodType, MappingProxyType, UnionType
@@ -1183,3 +1183,84 @@ def __get__(self, instance, owner=None):
         return val
 
     __class_getitem__ = classmethod(GenericAlias)
+
+################################################################################
+### cached_method -- a version of lru_cache() which uses `id(self)`
+################################################################################
+
+
+def _cached_method_weakref_callback(cache_dict, id_key):
+    def callback(ref):
+        cache_dict.pop(id_key)
+    return callback
+
+
+def _wrap_unbound_cached_method(ref, unbound_method, maxsize, typed):
+    @lru_cache(maxsize, typed)
+    def wrapped(*args, **kwargs):
+        return unbound_method(ref(), *args, **kwargs)
+    return wrapped
+
+
+class _cached_method:
+    """
+    A caching decorator for use on instance methods.
+
+    Using cache or lru_cache on methods is problematic because the instance is put into
+    the cache and cannot be garbage collected until the cache is cleared. This decorator
+    uses a cache based on `id(self)` and a weakref to clear cache entries.
+
+    The instance must be weak-referencable.
+
+    By default, this provides an infinite sized cache similar to functools.cache. Use
+    *maxsize* and *typed* to set these attributes of the underlying LRU cache.
+    """
+    def __init__(self, func, /, maxsize=None, typed=False):
+        self._function_table = {}
+
+        self._maxsize = maxsize
+        self._typed = typed
+
+        self.func = func
+        update_wrapper(self, func)
+
+    def __call__(self, instance, *args, **kwargs):
+        cached_func = self._get_or_create_cached_func(instance)
+        return cached_func(*args, **kwargs)
+
+    def __get__(self, instance, owner=None):
+        if instance is None:
+            return self
+        return self._get_or_create_cached_func(instance)
+
+    def _get_or_create_cached_func(self, instance):
+        # similar to singledispatch(), defer use of weakref until/unless it
+        # is needed
+        import weakref
+
+        instance_id = id(instance)
+
+        try:
+            ref, cached_func = self._function_table[instance_id]
+        except KeyError:
+            ref = weakref.ref(
+                instance,
+                _cached_method_weakref_callback(
+                    self._function_table, instance_id
+                ),
+            )
+            cached_func = _wrap_unbound_cached_method(
+                ref, self.func, self._maxsize, self._typed
+            )
+            self._function_table[instance_id] = ref, cached_func
+
+        return cached_func
+
+
+def cached_method(func=None, /, maxsize=None, typed=False):
+    if func is None:
+        def decorator(func):
+            return _cached_method(func, maxsize=maxsize, typed=typed)
+        return decorator
+    else:
+        return _cached_method(func, maxsize=maxsize, typed=typed)
diff --git a/Lib/test/test_functools.py b/Lib/test/test_functools.py
index c30386afe41849..6da1b0a1f37201 100644
--- a/Lib/test/test_functools.py
+++ b/Lib/test/test_functools.py
@@ -3810,5 +3810,65 @@ def prop(self):
         self.assertEqual(t.prop, 1)
 
 
+class CachedValueAdder:
+    def __init__(self, value):
+        self.value = value
+
+    @py_functools.cached_method
+    def add(self, other):
+        return self.value + other
+
+
+class TestCachedMethod(unittest.TestCase):
+    module = py_functools
+
+    def test_cached_usage(self):
+        one = CachedValueAdder(1)
+        self.assertEqual(one.add(2), 3)
+        one.value = 2
+        self.assertEqual(one.add(2), 3)  # still 3, not 4
+        one.add.cache_clear()
+        self.assertEqual(one.add(2), 4)  # now 4
+
+    def test_cache_info(self):
+        one = CachedValueAdder(1)
+        self.assertEqual(one.add.cache_info(),
+            self.module._CacheInfo(hits=0, misses=0, maxsize=None, currsize=0))
+        for _ in range(3):
+            for i in range(10):
+                one.add(i)
+        self.assertEqual(one.add.cache_info(),
+            self.module._CacheInfo(hits=20, misses=10, maxsize=None, currsize=10))
+        one.add.cache_clear()
+        self.assertEqual(one.add.cache_info(),
+            self.module._CacheInfo(hits=0, misses=0, maxsize=None, currsize=0))
+
+    def test_reapplication_is_allowed(self):
+        decorator = py_functools.cached_method(maxsize=10)
+
+        class MyObject:
+            @decorator
+            def a(self):
+                return 1
+
+            @decorator
+            def b(self):
+                return 2
+
+        x = MyObject()
+        self.assertEqual(x.a(), 1)
+        self.assertEqual(x.b(), 2)
+
+    def test_cached_method_under_property(self):
+        class MyObject:
+            @property
+            @py_functools.cached_method
+            def foo(self):
+                return 1
+
+        x = MyObject()
+        self.assertEqual(x.foo, 1)
+
+
 if __name__ == '__main__':
     unittest.main()
diff --git a/Misc/NEWS.d/next/Library/2026-05-18-11-34-16.gh-issue-102618.4y-SEm.rst b/Misc/NEWS.d/next/Library/2026-05-18-11-34-16.gh-issue-102618.4y-SEm.rst
new file mode 100644
index 00000000000000..bb13cb7b89fa90
--- /dev/null
+++ b/Misc/NEWS.d/next/Library/2026-05-18-11-34-16.gh-issue-102618.4y-SEm.rst
@@ -0,0 +1,2 @@
+Added a new ``functools.cached_method`` decorator, which uses weakrefs and
+avoids putting ``self`` into the cache.