diff --git a/graphene_django/fields.py b/graphene_django/fields.py
index 78efceb1c..faf470abf 100644
--- a/graphene_django/fields.py
+++ b/graphene_django/fields.py
@@ -147,21 +147,19 @@ def resolve_connection(cls, connection, args, iterable, max_limit=None):
 
         if isinstance(iterable, QuerySet):
             list_length = iterable.count()
-            list_slice_length = (
-                min(max_limit, list_length) if max_limit is not None else list_length
-            )
         else:
             list_length = len(iterable)
-            list_slice_length = (
-                min(max_limit, list_length) if max_limit is not None else list_length
-            )
+
+        list_slice_length = list_length
+        if max_limit is not None and "last" not in args:
+            list_slice_length = min(max_limit, list_length)
 
         # If after is higher than list_length, connection_from_list_slice
         # would try to do a negative slicing which makes django throw an
         # AssertionError
         after = min(get_offset_with_default(args.get("after"), -1) + 1, list_length)
 
-        if max_limit is not None and "first" not in args:
+        if max_limit is not None and "first" not in args and "last" not in args:
             args["first"] = max_limit
 
         connection = connection_from_list_slice(
diff --git a/graphene_django/tests/models.py b/graphene_django/tests/models.py
index 44a5d8a5c..7f29aa6c8 100644
--- a/graphene_django/tests/models.py
+++ b/graphene_django/tests/models.py
@@ -67,6 +67,9 @@ def __init__(self, *args, **kwargs):
     def some_method(self):
         return 123
 
+    class Meta:
+        ordering = ("id",)
+
 
 class CNNReporterManager(models.Manager):
     def get_queryset(self):
diff --git a/graphene_django/tests/test_query.py b/graphene_django/tests/test_query.py
index 6add0b863..adfe1de96 100644
--- a/graphene_django/tests/test_query.py
+++ b/graphene_django/tests/test_query.py
@@ -727,6 +727,58 @@ class Query(graphene.ObjectType):
     assert result.data == expected
 
 
+def test_should_return_last_page_if_more_than_max_limit(graphene_settings):
+    graphene_settings.RELAY_CONNECTION_MAX_LIMIT = 4
+
+    class ReporterType(DjangoObjectType):
+        class Meta:
+            model = Reporter
+            interfaces = (Node,)
+
+    class Query(graphene.ObjectType):
+        all_reporters = DjangoConnectionField(ReporterType)
+
+    assert Query.all_reporters.max_limit == 4
+
+    reporters = [Reporter(**kwargs) for kwargs in REPORTERS]
+    Reporter.objects.bulk_create(reporters)
+
+    r = Reporter.objects.create(
+        first_name="John", last_name="Doe", email="johndoe@example.com", a_choice=1
+    )
+
+    r2 = Reporter.objects.create(
+        first_name="Jane", last_name="Doe", email="janedoe@example.com", a_choice=2
+    )
+
+    schema = graphene.Schema(query=Query)
+    query = """
+        query NodeFilteringQuery {
+            allReporters(last: 2) {
+                edges {
+                    node {
+                        id
+                    }
+                }
+            }
+        }
+    """
+
+    expected = {
+        "allReporters": {
+            "edges": [
+                {"node": {"id": to_global_id("ReporterType", r.id)}},
+                {"node": {"id": to_global_id("ReporterType", r2.id)}},
+            ]
+        }
+    }
+
+    result = schema.execute(query)
+    assert not result.errors
+    assert len(result.data["allReporters"]["edges"]) == 2
+    assert result.data == expected
+
+
 def test_should_query_promise_connectionfields():
     from promise import Promise