diff --git a/crates/ruff_linter/resources/mdtest/pyupgrade/non-pep695-type-alias.md b/crates/ruff_linter/resources/mdtest/pyupgrade/non-pep695-type-alias.md
index f0ffa451244cd..64f3698c8ed30 100644
--- a/crates/ruff_linter/resources/mdtest/pyupgrade/non-pep695-type-alias.md
+++ b/crates/ruff_linter/resources/mdtest/pyupgrade/non-pep695-type-alias.md
@@ -32,3 +32,55 @@ from typing_extensions import TypeAliasType, TypeVar
 T = TypeVar("T", default=int)
 Alias = TypeAliasType("Alias", list[T], type_params=(T,))
 ```
+
+## `TypeVar` with unpacked keyword arguments
+
+When a `TypeVar` uses unpacked keyword arguments (e.g. `**{"default": Any}`), the fix cannot
+safely inline it into PEP 695 syntax and should not be offered.
+
+```toml
+target-version = "py314"
+[lint]
+preview = true
+select = ["UP040", "UP046", "UP047"]
+```
+
+### `TypeAliasType` — no fix offered
+
+```py
+from typing import Any, TypeAliasType, TypeVar
+
+T = TypeVar("T", **{"default": Any})
+AnyList = TypeAliasType("AnyList", list[T], type_params=(T,))
+```
+
+### `TypeAlias` — no fix offered
+
+```py
+from typing import Any, TypeAlias, TypeVar
+
+T = TypeVar("T", **{"default": Any})
+Alias: TypeAlias = list[T]
+```
+
+### Mixed `TypeAlias` — only non-unpacked TypeVar converted
+
+```py
+from typing import Any, TypeAlias, TypeVar
+
+T = TypeVar("T", **{"default": Any})
+U = TypeVar("U")
+MixedAlias: TypeAlias = tuple[T, U]
+```
+
+### Generic function — no fix offered
+
+```py
+from typing import Any, TypeVar
+
+T = TypeVar("T", **{"default": Any})
+U = TypeVar("U")
+
+def f(first: T, second: U) -> tuple[T, U]:
+    return first, second
+```
diff --git a/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/mod.rs b/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/mod.rs
index 109ccd762db48..2ae37e5156da0 100644
--- a/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/mod.rs
+++ b/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/mod.rs
@@ -234,6 +234,7 @@ struct TypeVarReferenceVisitor<'a> {
     /// Tracks whether any non-TypeVars have been seen to avoid replacing generic parameters when an
     /// unknown `TypeVar` is encountered.
     any_skipped: bool,
+    has_unpacked_kwargs: bool,
 }
 
 /// Recursively collects the names of type variable references present in an expression.
@@ -267,7 +268,9 @@ impl<'a> Visitor<'a> for TypeVarReferenceVisitor<'a> {
 
         match expr {
             Expr::Name(name) if name.ctx.is_load() => {
-                if let Some(var) = expr_name_to_type_var(self.semantic, name) {
+                if type_var_has_unpacked_kwargs(self.semantic, name) {
+                    self.has_unpacked_kwargs = true;
+                } else if let Some(var) = expr_name_to_type_var(self.semantic, name) {
                     self.vars.push(var);
                 } else {
                     self.any_skipped = true;
@@ -358,6 +361,32 @@ pub(crate) fn expr_name_to_type_var<'a>(
     None
 }
 
+/// Returns `true` if the name refers to a `TypeVar` with unpacked keyword arguments.
+pub(crate) fn type_var_has_unpacked_kwargs(semantic: &SemanticModel, name: &ExprName) -> bool {
+    let Some(StmtAssign { value, .. }) = semantic
+        .lookup_symbol(name.id.as_str())
+        .binding_id()
+        .and_then(|binding_id| semantic.binding(binding_id).source)
+        .map(|node_id| semantic.statement(node_id))
+        .and_then(|stmt| stmt.as_assign_stmt())
+    else {
+        return false;
+    };
+
+    let Expr::Call(ExprCall {
+        func, arguments, ..
+    }) = value.as_ref()
+    else {
+        return false;
+    };
+
+    if !semantic.match_typing_expr(func, "TypeVar") {
+        return false;
+    }
+
+    arguments.keywords.iter().any(|kw| kw.arg.is_none())
+}
+
 /// Check if the current statement is nested within another [`StmtClassDef`] or [`StmtFunctionDef`].
 fn in_nested_context(checker: &Checker) -> bool {
     checker
diff --git a/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_generic_class.rs b/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_generic_class.rs
index 44e74c8c878f4..fccdc537d7449 100644
--- a/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_generic_class.rs
+++ b/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_generic_class.rs
@@ -208,6 +208,7 @@ pub(crate) fn non_pep695_generic_class(checker: &Checker, class_def: &StmtClassD
         vars: vec![],
         semantic: checker.semantic(),
         any_skipped: false,
+        has_unpacked_kwargs: false,
     };
     visitor.visit_expr(slice);
 
@@ -231,7 +232,7 @@ pub(crate) fn non_pep695_generic_class(checker: &Checker, class_def: &StmtClassD
     // ```
     //
     // just because we can't confirm that `SomethingElse` is a `TypeVar`
-    if !visitor.any_skipped {
+    if !visitor.any_skipped && !visitor.has_unpacked_kwargs {
         let Some(type_vars) = check_type_vars(visitor.vars, checker) else {
             diagnostic.defuse();
             return;
diff --git a/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_generic_function.rs b/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_generic_function.rs
index 1f380060f44c7..288c45cca5a24 100644
--- a/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_generic_function.rs
+++ b/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_generic_function.rs
@@ -146,20 +146,23 @@ pub(crate) fn non_pep695_generic_function(checker: &Checker, function_def: &Stmt
     }
 
     let mut type_vars = Vec::new();
+    let mut has_unpacked_kwargs = false;
     for parameter in parameters {
         if let Some(annotation) = parameter.annotation() {
-            let vars = {
-                let mut visitor = TypeVarReferenceVisitor {
-                    vars: vec![],
-                    semantic: checker.semantic(),
-                    any_skipped: false,
-                };
-                visitor.visit_expr(annotation);
-                visitor.vars
+            let mut visitor = TypeVarReferenceVisitor {
+                vars: vec![],
+                semantic: checker.semantic(),
+                any_skipped: false,
+                has_unpacked_kwargs: false,
             };
-            type_vars.extend(vars);
+            visitor.visit_expr(annotation);
+            has_unpacked_kwargs |= visitor.has_unpacked_kwargs;
+            type_vars.extend(visitor.vars);
         }
     }
+    if has_unpacked_kwargs {
+        return;
+    }
 
     // Deduplicate type vars that appear in multiple parameter annotations
     let mut seen = FxHashSet::default();
diff --git a/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_type_alias.rs b/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_type_alias.rs
index e4224dc5859cf..f8eab1a2561c9 100644
--- a/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_type_alias.rs
+++ b/crates/ruff_linter/src/rules/pyupgrade/rules/pep695/non_pep695_type_alias.rs
@@ -13,8 +13,8 @@ use crate::{Applicability, Edit, Fix, FixAvailability, Violation};
 use ruff_python_ast::PythonVersion;
 
 use super::{
-    DisplayTypeVars, TypeParamKind, TypeVar, TypeVarReferenceVisitor, expr_name_to_type_var,
-    non_default_follows_default,
+    DisplayTypeVars, TypeVar, TypeVarReferenceVisitor, expr_name_to_type_var,
+    non_default_follows_default, type_var_has_unpacked_kwargs,
 };
 
 /// ## What it does
@@ -168,17 +168,20 @@ pub(crate) fn non_pep695_type_alias_type(checker: &Checker, stmt: &StmtAssign) {
         return;
     }
 
+    // Bail out if any type parameter has unpacked keyword arguments that
+    // cannot be represented in PEP 695 syntax.
+    if type_params.iter().any(|expr| {
+        expr.as_name_expr()
+            .is_some_and(|name| type_var_has_unpacked_kwargs(checker.semantic(), name))
+    }) {
+        return;
+    }
+
     let Some(vars) = type_params
         .iter()
         .map(|expr| {
-            expr.as_name_expr().map(|name| {
-                expr_name_to_type_var(checker.semantic(), name).unwrap_or(TypeVar {
-                    name: &name.id,
-                    restriction: None,
-                    kind: TypeParamKind::TypeVar,
-                    default: None,
-                })
-            })
+            expr.as_name_expr()
+                .and_then(|name| expr_name_to_type_var(checker.semantic(), name))
         })
         .collect::<Option<Vec<_>>>()
     else {
@@ -223,15 +226,17 @@ pub(crate) fn non_pep695_type_alias(checker: &Checker, stmt: &StmtAnnAssign) {
         return;
     };
 
-    let vars = {
-        let mut visitor = TypeVarReferenceVisitor {
-            vars: vec![],
-            semantic: checker.semantic(),
-            any_skipped: false,
-        };
-        visitor.visit_expr(value);
-        visitor.vars
+    let mut visitor = TypeVarReferenceVisitor {
+        vars: vec![],
+        semantic: checker.semantic(),
+        any_skipped: false,
+        has_unpacked_kwargs: false,
     };
+    visitor.visit_expr(value);
+    if visitor.has_unpacked_kwargs {
+        return;
+    }
+    let vars = visitor.vars;
 
     // Type variables must be unique; filter while preserving order.
     let vars = vars
@@ -317,4 +322,4 @@ fn create_diagnostic(
             stmt.range(),
         )
         .set_fix(Fix::applicable_edit(edit, applicability));
-}
+}
\ No newline at end of file