diff --git a/CHANGELOG.md b/CHANGELOG.md
index 650b8e61..3229833b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -20,6 +20,13 @@ Other changes:
 * Y038 now flags `from typing_extensions import AbstractSet` as well as
   `from typing import AbstractSet`.
 * Y022 and Y037 now flag more imports from `typing_extensions`.
+* Y034 now attempts to avoid flagging methods inside classes that inherit from
+  `builtins.type`, `abc.ABCMeta` and/or `enum.EnumMeta`. Classes that have one
+  or more of these as bases are metaclasses, and PEP 673
+  [forbids the use of `typing(_extensions).Self`](https://peps.python.org/pep-0673/#valid-locations-for-self)
+  for metaclasses. While reliably determining whether a class is a metaclass in
+  all cases would be impossible for flake8-pyi, the new heuristics should
+  reduce the number of false positives from this check.
 
 ## 23.10.0
 
diff --git a/pyi.py b/pyi.py
index eff7ccbd..cccdc31f 100644
--- a/pyi.py
+++ b/pyi.py
@@ -479,6 +479,11 @@ def _has_bad_hardcoded_returns(
     method: ast.FunctionDef | ast.AsyncFunctionDef, *, classdef: ast.ClassDef
 ) -> bool:
     """Return `True` if `function` should be rewritten with `typing_extensions.Self`."""
+    # PEP 673 forbids the use of `typing(_extensions).Self` in metaclasses.
+    # Do our best to avoid false positives here:
+    if _is_metaclass(classdef):
+        return False
+
     # Much too complex for our purposes to worry
     # about overloaded functions or abstractmethods
     if any(
@@ -818,6 +823,29 @@ def _is_enum_class(node: ast.ClassDef) -> bool:
     return any(_is_enum_base(base) for base in node.bases)
 
 
+_COMMON_METACLASSES = {
+    "type": "builtins",
+    "ABCMeta": "abc",
+    "EnumMeta": "enum",
+    "EnumType": "enum",
+}
+
+
+def _is_metaclass_base(node: ast.expr) -> bool:
+    if isinstance(node, ast.Name):
+        return node.id in _COMMON_METACLASSES
+    return (
+        isinstance(node, ast.Attribute)
+        and node.attr in _COMMON_METACLASSES
+        and _is_name(node.value, _COMMON_METACLASSES[node.attr])
+    )
+
+
+def _is_metaclass(node: ast.ClassDef) -> bool:
+    """Best-effort attempt to determine if a class is a metaclass or not."""
+    return any(_is_metaclass_base(base) for base in node.bases)
+
+
 @dataclass
 class NestingCounter:
     """Class to help the PyiVisitor keep track of internal state"""
diff --git a/tests/classdefs.pyi b/tests/classdefs.pyi
index 2cc44632..452d0de3 100644
--- a/tests/classdefs.pyi
+++ b/tests/classdefs.pyi
@@ -3,8 +3,9 @@
 import abc
 import builtins
 import collections.abc
+import enum
 import typing
-from abc import abstractmethod
+from abc import ABCMeta, abstractmethod
 from collections.abc import (
     AsyncGenerator,
     AsyncIterable,
@@ -14,6 +15,7 @@ from collections.abc import (
     Iterable,
     Iterator,
 )
+from enum import EnumMeta
 from typing import Any, Generic, TypeVar, overload
 
 import typing_extensions
@@ -126,6 +128,30 @@ class AsyncIteratorReturningSimpleAsyncGenerator2:
 class AsyncIteratorReturningComplexAsyncGenerator:
     def __aiter__(self) -> AsyncGenerator[str, int]: ...
 
+class MetaclassInWhichSelfCannotBeUsed(type):
+    def __new__(cls) -> MetaclassInWhichSelfCannotBeUsed: ...
+    def __enter__(self) -> MetaclassInWhichSelfCannotBeUsed: ...
+    async def __aenter__(self) -> MetaclassInWhichSelfCannotBeUsed: ...
+    def __isub__(self, other: MetaclassInWhichSelfCannotBeUsed) -> MetaclassInWhichSelfCannotBeUsed: ...
+
+class MetaclassInWhichSelfCannotBeUsed2(EnumMeta):
+    def __new__(cls) -> MetaclassInWhichSelfCannotBeUsed2: ...
+    def __enter__(self) -> MetaclassInWhichSelfCannotBeUsed2: ...
+    async def __aenter__(self) -> MetaclassInWhichSelfCannotBeUsed2: ...
+    def __isub__(self, other: MetaclassInWhichSelfCannotBeUsed2) -> MetaclassInWhichSelfCannotBeUsed2: ...
+
+class MetaclassInWhichSelfCannotBeUsed3(enum.EnumType):
+    def __new__(cls) -> MetaclassInWhichSelfCannotBeUsed3: ...
+    def __enter__(self) -> MetaclassInWhichSelfCannotBeUsed3: ...
+    async def __aenter__(self) -> MetaclassInWhichSelfCannotBeUsed3: ...
+    def __isub__(self, other: MetaclassInWhichSelfCannotBeUsed3) -> MetaclassInWhichSelfCannotBeUsed3: ...
+
+class MetaclassInWhichSelfCannotBeUsed4(ABCMeta):
+    def __new__(cls) -> MetaclassInWhichSelfCannotBeUsed4: ...
+    def __enter__(self) -> MetaclassInWhichSelfCannotBeUsed4: ...
+    async def __aenter__(self) -> MetaclassInWhichSelfCannotBeUsed4: ...
+    def __isub__(self, other: MetaclassInWhichSelfCannotBeUsed4) -> MetaclassInWhichSelfCannotBeUsed4: ...
+
 class Abstract(Iterator[str]):
     @abstractmethod
     def __iter__(self) -> Iterator[str]: ...