diff --git a/src/poetry/core/version/markers.py b/src/poetry/core/version/markers.py
index 9eebe0017..1b5630e55 100644
--- a/src/poetry/core/version/markers.py
+++ b/src/poetry/core/version/markers.py
@@ -734,9 +734,11 @@ def exclude(self, marker_name: str) -> BaseMarker:
                 continue
 
             marker = m.exclude(marker_name)
+            new_markers.append(marker)
 
-            if not marker.is_empty():
-                new_markers.append(marker)
+        if not new_markers:
+            # All markers were the excluded marker.
+            return AnyMarker()
 
         return self.of(*new_markers)
 
diff --git a/tests/version/test_markers.py b/tests/version/test_markers.py
index 9bf900c47..364cbed88 100644
--- a/tests/version/test_markers.py
+++ b/tests/version/test_markers.py
@@ -905,6 +905,8 @@ def test_parse_version_like_markers(marker: str, env: dict[str, str]) -> None:
             ' "pypy" or extra == "bar"',
             'python_version >= "3.6" or implementation_name == "pypy"',
         ),
+        ('extra == "foo"', ""),
+        ('extra == "foo" or extra == "bar"', ""),
     ],
 )
 def test_without_extras(marker: str, expected: str) -> None: