diff --git a/src/main/java/org/springframework/data/redis/connection/lettuce/LettuceReactiveRedisConnection.java b/src/main/java/org/springframework/data/redis/connection/lettuce/LettuceReactiveRedisConnection.java
index fb720dfeb2..59b8b190de 100644
--- a/src/main/java/org/springframework/data/redis/connection/lettuce/LettuceReactiveRedisConnection.java
+++ b/src/main/java/org/springframework/data/redis/connection/lettuce/LettuceReactiveRedisConnection.java
@@ -43,6 +43,7 @@
 /**
  * @author Christoph Strobl
  * @author Mark Paluch
+ * @author sywu14
  * @since 2.0
  */
 @NullUnmarked
@@ -324,7 +325,9 @@ static class AsyncConnect<T extends io.lettuce.core.api.StatefulConnection<?, ?>
 			this.connectionPublisher = defer.doOnNext(it -> {
 
 				if (isClosing(STATE.get(this))) {
-					it.closeAsync();
+					// Connection arrived after close() was initiated. Release it back to the connection provider so a
+					// pooled connection is returned to the pool instead of being closed without releasing the pool slot.
+					connectionProvider.releaseAsync(it);
 				} else {
 					connection = it;
 				}
diff --git a/src/test/java/org/springframework/data/redis/connection/lettuce/LettuceReactiveRedisConnectionUnitTests.java b/src/test/java/org/springframework/data/redis/connection/lettuce/LettuceReactiveRedisConnectionUnitTests.java
index 54e9d02635..6765e58ef2 100644
--- a/src/test/java/org/springframework/data/redis/connection/lettuce/LettuceReactiveRedisConnectionUnitTests.java
+++ b/src/test/java/org/springframework/data/redis/connection/lettuce/LettuceReactiveRedisConnectionUnitTests.java
@@ -50,6 +50,7 @@
  * Unit tests for {@link LettuceReactiveRedisConnection}.
  *
  * @author Mark Paluch
+ * @author sywu14
  */
 @ExtendWith(MockitoExtension.class)
 @MockitoSettings(strictness = Strictness.LENIENT)
@@ -196,6 +197,32 @@ void shouldPropagateConnectionFailures() {
 		connection.getConnection().as(StepVerifier::create).expectError(RedisConnectionFailureException.class).verify();
 	}
 
+	@Test // GH-3371
+	@SuppressWarnings("unchecked")
+	void shouldReleaseConnectionArrivingAfterClose() throws Exception {
+
+		CompletableFuture<StatefulConnection<?, ?>> connectionFuture = new CompletableFuture<>();
+		reset(connectionProvider);
+		when(connectionProvider.getConnectionAsync(any())).thenReturn(connectionFuture);
+		when(connectionProvider.releaseAsync(any())).thenReturn(CompletableFuture.completedFuture(null));
+
+		LettuceReactiveRedisConnection connection = new LettuceReactiveRedisConnection(connectionProvider);
+
+		// connection request is in-flight, the connection has not arrived yet
+		CompletableFuture<StatefulConnection<ByteBuffer, ByteBuffer>> inFlight = (CompletableFuture) connection
+				.getConnection().toFuture();
+		assertThat(inFlight).isNotDone();
+
+		// the connection gets closed while the acquisition is still in progress
+		connection.close();
+
+		// the connection finally arrives from the provider
+		connectionFuture.complete(sharedConnection);
+
+		// the late-arriving connection must be released back to the provider (returned to the pool), not leaked
+		verify(connectionProvider, times(1)).releaseAsync(sharedConnection);
+	}
+
 	@Test // DATAREDIS-720, DATAREDIS-721
 	void shouldRejectCommandsAfterClose() {