diff --git a/Include/object.h b/Include/object.h
index 1c7d7f407fe23e..bdc07d9e8d7f83 100644
--- a/Include/object.h
+++ b/Include/object.h
@@ -327,7 +327,15 @@ static inline int Py_IS_TYPE(PyObject *ob, PyTypeObject *type) {
 #endif
 
 
+// Py_SET_REFCNT() implementation for stable ABI
+PyAPI_FUNC(void) _Py_SetRefcnt(PyObject *ob, Py_ssize_t refcnt);
+
 static inline void Py_SET_REFCNT(PyObject *ob, Py_ssize_t refcnt) {
+#if defined(Py_LIMITED_API) && Py_LIMITED_API+0 >= 0x030d0000
+    // Stable ABI implements Py_SET_REFCNT() as a function call
+    // on limited C API version 3.13 and newer.
+    _Py_SetRefcnt(ob, refcnt);
+#else
     // This immortal check is for code that is unaware of immortal objects.
     // The runtime tracks these objects and we should avoid as much
     // as possible having extensions inadvertently change the refcnt
@@ -335,7 +343,7 @@ static inline void Py_SET_REFCNT(PyObject *ob, Py_ssize_t refcnt) {
     if (_Py_IsImmortal(ob)) {
         return;
     }
-#if !defined(Py_NOGIL)
+#ifndef Py_NOGIL
     ob->ob_refcnt = refcnt;
 #else
     if (_Py_IsOwnedByCurrentThread(ob)) {
@@ -352,7 +360,8 @@ static inline void Py_SET_REFCNT(PyObject *ob, Py_ssize_t refcnt) {
         ob->ob_ref_local = 0;
         ob->ob_ref_shared = _Py_REF_SHARED(refcnt, _Py_REF_MERGED);
     }
-#endif
+#endif  // Py_NOGIL
+#endif  // Py_LIMITED_API+0 < 0x030d0000
 }
 #if !defined(Py_LIMITED_API) || Py_LIMITED_API+0 < 0x030b0000
 #  define Py_SET_REFCNT(ob, refcnt) Py_SET_REFCNT(_PyObject_CAST(ob), (refcnt))
diff --git a/Lib/test/test_stable_abi_ctypes.py b/Lib/test/test_stable_abi_ctypes.py
index 88bc0fd4025a17..85a63c44b49431 100644
--- a/Lib/test/test_stable_abi_ctypes.py
+++ b/Lib/test/test_stable_abi_ctypes.py
@@ -907,6 +907,7 @@ def test_windows_feature_macros(self):
     "_Py_IncRef",
     "_Py_NoneStruct",
     "_Py_NotImplementedStruct",
+    "_Py_SetRefcnt",
     "_Py_SwappedOp",
     "_Py_TrueStruct",
     "_Py_VaBuildValue_SizeT",
diff --git a/Misc/NEWS.d/next/C API/2023-10-30-18-13-01.gh-issue-111506.EUdO22.rst b/Misc/NEWS.d/next/C API/2023-10-30-18-13-01.gh-issue-111506.EUdO22.rst
new file mode 100644
index 00000000000000..f4d71fd008241a
--- /dev/null
+++ b/Misc/NEWS.d/next/C API/2023-10-30-18-13-01.gh-issue-111506.EUdO22.rst	
@@ -0,0 +1,2 @@
+In the limited C API version 3.13, :c:func:`Py_SET_REFCNT` function is now
+implemented as an opaque function call. Patch by Victor Stinner.
diff --git a/Misc/stable_abi.toml b/Misc/stable_abi.toml
index 0601de20fe0f46..b55bb599d71dcc 100644
--- a/Misc/stable_abi.toml
+++ b/Misc/stable_abi.toml
@@ -2480,3 +2480,6 @@
     added = '3.13'
 [function.PyUnicode_AsUTF8]
     added = '3.13'
+[function._Py_SetRefcnt]
+    added = '3.13'
+    abi_only = true
diff --git a/Objects/object.c b/Objects/object.c
index 35c7e7bf33b135..1cc3f914646709 100644
--- a/Objects/object.c
+++ b/Objects/object.c
@@ -2931,3 +2931,11 @@ int Py_IsFalse(PyObject *x)
 {
     return Py_Is(x, Py_False);
 }
+
+
+// Py_SET_REFCNT() implementation for stable ABI
+void
+_Py_SetRefcnt(PyObject *ob, Py_ssize_t refcnt)
+{
+    Py_SET_REFCNT(ob, refcnt);
+}
diff --git a/PC/python3dll.c b/PC/python3dll.c
index 7f5d97ae4dc83f..fa6bf1f0282b0a 100755
--- a/PC/python3dll.c
+++ b/PC/python3dll.c
@@ -19,6 +19,7 @@ EXPORT_FUNC(_Py_Dealloc)
 EXPORT_FUNC(_Py_DecRef)
 EXPORT_FUNC(_Py_IncRef)
 EXPORT_FUNC(_Py_NegativeRefcount)
+EXPORT_FUNC(_Py_SetRefcnt)
 EXPORT_FUNC(_Py_VaBuildValue_SizeT)
 EXPORT_FUNC(_PyArg_Parse_SizeT)
 EXPORT_FUNC(_PyArg_ParseTuple_SizeT)