diff --git a/Doc/library/contextvars.rst b/Doc/library/contextvars.rst
index 2b1fb9fdd29cd8..3e3b30c724c631 100644
--- a/Doc/library/contextvars.rst
+++ b/Doc/library/contextvars.rst
@@ -101,6 +101,21 @@ Context Variables
    the value of the variable to what it was before the corresponding
    *set*.
 
+   The token supports :ref:`context manager protocol <context-managers>`
+   to restore the corresponding context variable value at the exit from
+   :keyword:`with` block::
+
+       var = ContextVar('var', default='default value')
+
+       with var.set('new value'):
+           assert var.get() == 'new value'
+
+       assert var.get() == 'default value'
+
+   .. versionadded:: next
+
+      Added support for usage as a context manager.
+
    .. attribute:: Token.var
 
       A read-only property.  Points to the :class:`ContextVar` object
diff --git a/Doc/whatsnew/3.14.rst b/Doc/whatsnew/3.14.rst
index 3c7cc1b4529d32..e40b597ee52157 100644
--- a/Doc/whatsnew/3.14.rst
+++ b/Doc/whatsnew/3.14.rst
@@ -1,4 +1,3 @@
-
 ****************************
   What's new in Python 3.14
 ****************************
@@ -362,6 +361,13 @@ concurrent.futures
   supplying a *mp_context* to :class:`concurrent.futures.ProcessPoolExecutor`.
   (Contributed by Gregory P.  Smith in :gh:`84559`.)
 
+contextvars
+-----------
+
+* Support context manager protocol by :class:`contextvars.Token`.
+  (Contributed by Andrew Svetlov in :gh:`129889`.)
+
+
 ctypes
 ------
 
diff --git a/Lib/test/test_context.py b/Lib/test/test_context.py
index 82d1797ab3b79e..f9cdcc3561e9d6 100644
--- a/Lib/test/test_context.py
+++ b/Lib/test/test_context.py
@@ -383,6 +383,115 @@ def sub(num):
             tp.shutdown()
         self.assertEqual(results, list(range(10)))
 
+    def test_token_contextmanager_with_default(self):
+        ctx = contextvars.Context()
+        c = contextvars.ContextVar('c', default=42)
+
+        def fun():
+            with c.set(36):
+                self.assertEqual(c.get(), 36)
+
+            self.assertEqual(c.get(), 42)
+
+        ctx.run(fun)
+
+    def test_token_contextmanager_without_default(self):
+        ctx = contextvars.Context()
+        c = contextvars.ContextVar('c')
+
+        def fun():
+            with c.set(36):
+                self.assertEqual(c.get(), 36)
+
+            with self.assertRaisesRegex(LookupError, "<ContextVar name='c'"):
+                c.get()
+
+        ctx.run(fun)
+
+    def test_token_contextmanager_on_exception(self):
+        ctx = contextvars.Context()
+        c = contextvars.ContextVar('c', default=42)
+
+        def fun():
+            with c.set(36):
+                self.assertEqual(c.get(), 36)
+                raise ValueError("custom exception")
+
+            self.assertEqual(c.get(), 42)
+
+        with self.assertRaisesRegex(ValueError, "custom exception"):
+            ctx.run(fun)
+
+    def test_token_contextmanager_reentrant(self):
+        ctx = contextvars.Context()
+        c = contextvars.ContextVar('c', default=42)
+
+        def fun():
+            token = c.set(36)
+            with self.assertRaisesRegex(
+                    RuntimeError,
+                    "<Token .+ has already been used once"
+            ):
+                with token:
+                    with token:
+                        self.assertEqual(c.get(), 36)
+
+            self.assertEqual(c.get(), 42)
+
+        ctx.run(fun)
+
+    def test_token_contextmanager_multiple_c_set(self):
+        ctx = contextvars.Context()
+        c = contextvars.ContextVar('c', default=42)
+
+        def fun():
+            with c.set(36):
+                self.assertEqual(c.get(), 36)
+                c.set(24)
+                self.assertEqual(c.get(), 24)
+                c.set(12)
+                self.assertEqual(c.get(), 12)
+
+            self.assertEqual(c.get(), 42)
+
+        ctx.run(fun)
+
+    def test_token_contextmanager_with_explicit_reset_the_same_token(self):
+        ctx = contextvars.Context()
+        c = contextvars.ContextVar('c', default=42)
+
+        def fun():
+            with self.assertRaisesRegex(
+                    RuntimeError,
+                    "<Token .+ has already been used once"
+            ):
+                with c.set(36) as token:
+                    self.assertEqual(c.get(), 36)
+                    c.reset(token)
+
+                    self.assertEqual(c.get(), 42)
+
+            self.assertEqual(c.get(), 42)
+
+        ctx.run(fun)
+
+    def test_token_contextmanager_with_explicit_reset_another_token(self):
+        ctx = contextvars.Context()
+        c = contextvars.ContextVar('c', default=42)
+
+        def fun():
+            with c.set(36):
+                self.assertEqual(c.get(), 36)
+
+                token = c.set(24)
+                self.assertEqual(c.get(), 24)
+                c.reset(token)
+                self.assertEqual(c.get(), 36)
+
+            self.assertEqual(c.get(), 42)
+
+        ctx.run(fun)
+
 
 # HAMT Tests
 
diff --git a/Misc/NEWS.d/next/Library/2025-02-10-09-45-49.gh-issue-129889.PBHXU5.rst b/Misc/NEWS.d/next/Library/2025-02-10-09-45-49.gh-issue-129889.PBHXU5.rst
new file mode 100644
index 00000000000000..f0880e5de8412e
--- /dev/null
+++ b/Misc/NEWS.d/next/Library/2025-02-10-09-45-49.gh-issue-129889.PBHXU5.rst
@@ -0,0 +1,2 @@
+Support context manager protocol by :class:`contextvars.Token`. Patch by
+Andrew Svetlov.
diff --git a/Python/clinic/context.c.h b/Python/clinic/context.c.h
index 71f05aa02a51e7..0adde76d7c3cb1 100644
--- a/Python/clinic/context.c.h
+++ b/Python/clinic/context.c.h
@@ -179,4 +179,55 @@ PyDoc_STRVAR(_contextvars_ContextVar_reset__doc__,
 
 #define _CONTEXTVARS_CONTEXTVAR_RESET_METHODDEF    \
     {"reset", (PyCFunction)_contextvars_ContextVar_reset, METH_O, _contextvars_ContextVar_reset__doc__},
-/*[clinic end generated code: output=444567eaf0df25e0 input=a9049054013a1b77]*/
+
+PyDoc_STRVAR(token_enter__doc__,
+"__enter__($self, /)\n"
+"--\n"
+"\n"
+"Enter into Token context manager.");
+
+#define TOKEN_ENTER_METHODDEF    \
+    {"__enter__", (PyCFunction)token_enter, METH_NOARGS, token_enter__doc__},
+
+static PyObject *
+token_enter_impl(PyContextToken *self);
+
+static PyObject *
+token_enter(PyObject *self, PyObject *Py_UNUSED(ignored))
+{
+    return token_enter_impl((PyContextToken *)self);
+}
+
+PyDoc_STRVAR(token_exit__doc__,
+"__exit__($self, type, val, tb, /)\n"
+"--\n"
+"\n"
+"Exit from Token context manager, restore the linked ContextVar.");
+
+#define TOKEN_EXIT_METHODDEF    \
+    {"__exit__", _PyCFunction_CAST(token_exit), METH_FASTCALL, token_exit__doc__},
+
+static PyObject *
+token_exit_impl(PyContextToken *self, PyObject *type, PyObject *val,
+                PyObject *tb);
+
+static PyObject *
+token_exit(PyObject *self, PyObject *const *args, Py_ssize_t nargs)
+{
+    PyObject *return_value = NULL;
+    PyObject *type;
+    PyObject *val;
+    PyObject *tb;
+
+    if (!_PyArg_CheckPositional("__exit__", nargs, 3, 3)) {
+        goto exit;
+    }
+    type = args[0];
+    val = args[1];
+    tb = args[2];
+    return_value = token_exit_impl((PyContextToken *)self, type, val, tb);
+
+exit:
+    return return_value;
+}
+/*[clinic end generated code: output=01987cdbf68a951a input=a9049054013a1b77]*/
diff --git a/Python/context.c b/Python/context.c
index bb1aa42b9c5e4f..dfdde7d1fa723f 100644
--- a/Python/context.c
+++ b/Python/context.c
@@ -1231,9 +1231,47 @@ static PyGetSetDef PyContextTokenType_getsetlist[] = {
     {NULL}
 };
 
+/*[clinic input]
+_contextvars.Token.__enter__ as token_enter
+
+Enter into Token context manager.
+[clinic start generated code]*/
+
+static PyObject *
+token_enter_impl(PyContextToken *self)
+/*[clinic end generated code: output=9af4d2054e93fb75 input=41a3d6c4195fd47a]*/
+{
+    return Py_NewRef(self);
+}
+
+/*[clinic input]
+_contextvars.Token.__exit__ as token_exit
+
+    type: object
+    val: object
+    tb: object
+    /
+
+Exit from Token context manager, restore the linked ContextVar.
+[clinic start generated code]*/
+
+static PyObject *
+token_exit_impl(PyContextToken *self, PyObject *type, PyObject *val,
+                PyObject *tb)
+/*[clinic end generated code: output=3e6a1c95d3da703a input=7f117445f0ccd92e]*/
+{
+    int ret = PyContextVar_Reset((PyObject *)self->tok_var, (PyObject *)self);
+    if (ret < 0) {
+        return NULL;
+    }
+    Py_RETURN_NONE;
+}
+
 static PyMethodDef PyContextTokenType_methods[] = {
     {"__class_getitem__",    Py_GenericAlias,
     METH_O|METH_CLASS,       PyDoc_STR("See PEP 585")},
+    TOKEN_ENTER_METHODDEF
+    TOKEN_EXIT_METHODDEF
     {NULL}
 };