diff --git a/mypy/constant_fold.py b/mypy/constant_fold.py
index 4582b2a7396d..7908260c4c3f 100644
--- a/mypy/constant_fold.py
+++ b/mypy/constant_fold.py
@@ -9,6 +9,7 @@
 
 from mypy.nodes import (
     ComplexExpr,
+    ConditionalExpr,
     Expression,
     FloatExpr,
     IntExpr,
@@ -73,6 +74,11 @@ def constant_fold_expr(expr: Expression, cur_mod_id: str) -> ConstantValue | Non
         value = constant_fold_expr(expr.expr, cur_mod_id)
         if value is not None:
             return constant_fold_unary_op(expr.op, value)
+    elif isinstance(expr, ConditionalExpr):
+        cond = constant_fold_expr(expr.cond, cur_mod_id)
+        if cond is not None:
+            value_expr = expr.if_expr if cond else expr.else_expr
+            return constant_fold_expr(value_expr, cur_mod_id)
     return None
 
 
diff --git a/mypyc/irbuild/constant_fold.py b/mypyc/irbuild/constant_fold.py
index 12a4b15dd40c..102f9ccf0fbf 100644
--- a/mypyc/irbuild/constant_fold.py
+++ b/mypyc/irbuild/constant_fold.py
@@ -16,6 +16,7 @@
 from mypy.nodes import (
     BytesExpr,
     ComplexExpr,
+    ConditionalExpr,
     Expression,
     FloatExpr,
     IntExpr,
@@ -72,6 +73,11 @@ def constant_fold_expr(builder: IRBuilder, expr: Expression) -> ConstantValue |
         value = constant_fold_expr(builder, expr.expr)
         if value is not None and not isinstance(value, bytes):
             return constant_fold_unary_op(expr.op, value)
+    elif isinstance(expr, ConditionalExpr):
+        cond = constant_fold_expr(builder, expr.cond)
+        if cond is not None:
+            value_expr = expr.if_expr if cond else expr.else_expr
+            return constant_fold_expr(builder, value_expr)
     return None
 
 
diff --git a/mypyc/irbuild/expression.py b/mypyc/irbuild/expression.py
index 59ecc4ac2c5c..f239f3a1fee7 100644
--- a/mypyc/irbuild/expression.py
+++ b/mypyc/irbuild/expression.py
@@ -653,6 +653,7 @@ def try_gen_slice_op(builder: IRBuilder, base: Value, index: SliceExpr) -> Value
     return None
 
 
+@folding_candidate
 def transform_conditional_expr(builder: IRBuilder, expr: ConditionalExpr) -> Value:
     if_body, else_body, next_block = BasicBlock(), BasicBlock(), BasicBlock()
 
diff --git a/mypyc/test-data/irbuild-constant-fold.test b/mypyc/test-data/irbuild-constant-fold.test
index cd953c84c541..f5e041cf2ceb 100644
--- a/mypyc/test-data/irbuild-constant-fold.test
+++ b/mypyc/test-data/irbuild-constant-fold.test
@@ -478,3 +478,16 @@ L0:
     r3 = (-1.5+2j)
     neg_2 = r3
     return 1
+
+[case testConditionalConstantFolding]
+from typing import Final
+
+constant: Final = 1
+
+def f() -> None:
+    a = "t" if constant else "f"
+[out]
+def f():
+    a :: str
+L0:
+    a = "t"