diff --git a/stdlib/concurrent/futures/_base.pyi b/stdlib/concurrent/futures/_base.pyi
index 1c28166ff..9ea4d5dff 100644
--- a/stdlib/concurrent/futures/_base.pyi
+++ b/stdlib/concurrent/futures/_base.pyi
@@ -4,7 +4,7 @@ from _typeshed import Unused
 from collections.abc import Callable, Iterable, Iterator
 from logging import Logger
 from types import TracebackType
-from typing import Any, Generic, Literal, NamedTuple, TypeVar
+from typing import Any, Generic, Literal, NamedTuple, Protocol, TypeVar
 from typing_extensions import ParamSpec, Self
 
 if sys.version_info >= (3, 9):
@@ -34,9 +34,15 @@ class InvalidStateError(Error): ...
 class BrokenExecutor(RuntimeError): ...
 
 _T = TypeVar("_T")
+_T_co = TypeVar("_T_co", covariant=True)
 _P = ParamSpec("_P")
 
 class Future(Generic[_T]):
+    _condition: threading.Condition
+    _state: str
+    _result: _T | None
+    _exception: BaseException | None
+    _waiters: list[_Waiter]
     def cancel(self) -> bool: ...
     def cancelled(self) -> bool: ...
     def running(self) -> bool: ...
@@ -69,7 +75,17 @@ class Executor:
         self, exc_type: type[BaseException] | None, exc_val: BaseException | None, exc_tb: TracebackType | None
     ) -> bool | None: ...
 
-def as_completed(fs: Iterable[Future[_T]], timeout: float | None = None) -> Iterator[Future[_T]]: ...
+class _AsCompletedFuture(Protocol[_T_co]):
+    # as_completed only mutates non-generic aspects of passed Futures and does not do any nominal
+    # checks. Therefore, we can use a Protocol here to allow as_completed to act covariantly.
+    # See the tests for concurrent.futures
+    _condition: threading.Condition
+    _state: str
+    _waiters: list[_Waiter]
+    # Not used by as_completed, but needed to propagate the generic type
+    def result(self, timeout: float | None = None) -> _T_co: ...
+
+def as_completed(fs: Iterable[_AsCompletedFuture[_T]], timeout: float | None = None) -> Iterator[Future[_T]]: ...
 
 class DoneAndNotDoneFutures(NamedTuple, Generic[_T]):
     done: set[Future[_T]]
diff --git a/test_cases/stdlib/check_concurrent_futures.py b/test_cases/stdlib/check_concurrent_futures.py
new file mode 100644
index 000000000..2698a51f6
--- /dev/null
+++ b/test_cases/stdlib/check_concurrent_futures.py
@@ -0,0 +1,32 @@
+from __future__ import annotations
+
+from collections.abc import Callable, Iterator
+from concurrent.futures import Future, ThreadPoolExecutor, as_completed
+from typing_extensions import assert_type
+
+
+class Parent:
+    ...
+
+
+class Child(Parent):
+    ...
+
+
+def check_as_completed_covariance() -> None:
+    with ThreadPoolExecutor() as executor:
+        f1 = executor.submit(lambda: Parent())
+        f2 = executor.submit(lambda: Child())
+        fs: list[Future[Parent] | Future[Child]] = [f1, f2]
+        assert_type(as_completed(fs), Iterator[Future[Parent]])
+        for future in as_completed(fs):
+            assert_type(future.result(), Parent)
+
+
+def check_future_invariance() -> None:
+    def execute_callback(callback: Callable[[], Parent], future: Future[Parent]) -> None:
+        future.set_result(callback())
+
+    fut: Future[Child] = Future()
+    execute_callback(lambda: Parent(), fut)  # type: ignore
+    assert isinstance(fut.result(), Child)