diff --git a/Lib/test/test_traceback.py b/Lib/test/test_traceback.py
index 9bb1786c5472f5..a0f7ad81bd540d 100644
--- a/Lib/test/test_traceback.py
+++ b/Lib/test/test_traceback.py
@@ -927,6 +927,17 @@ def f():
         ]
         self.assertEqual(actual, expected)
 
+    def test_memory_error(self):
+        def f():
+            raise MemoryError()
+
+        actual = self.get_exception(f)
+        expected = ['Traceback (most recent call last):',
+            f'  File "{__file__}", line {self.callable_line}, in get_exception',
+            '    callable()',
+            f'  File "{__file__}", line {f.__code__.co_firstlineno + 1}, in f',
+            '    raise MemoryError()']
+        self.assertEqual(actual, expected)
 
 
 @requires_debug_ranges()
diff --git a/Misc/NEWS.d/next/Core and Builtins/2023-10-16-12-12-48.gh-issue-110912.uEJGi_.rst b/Misc/NEWS.d/next/Core and Builtins/2023-10-16-12-12-48.gh-issue-110912.uEJGi_.rst
new file mode 100644
index 00000000000000..d70d45ebb931ea
--- /dev/null
+++ b/Misc/NEWS.d/next/Core and Builtins/2023-10-16-12-12-48.gh-issue-110912.uEJGi_.rst	
@@ -0,0 +1,2 @@
+Correctly display the traceback for :exc:`MemoryError` exceptions using the
+:mod:`traceback` module. Patch by Pablo Galindo
diff --git a/Python/pythonrun.c b/Python/pythonrun.c
index 74994295a9b23a..b915c063d0b456 100644
--- a/Python/pythonrun.c
+++ b/Python/pythonrun.c
@@ -1031,6 +1031,7 @@ print_exception_recursive(struct exception_print_context *ctx, PyObject *value)
 void
 _PyErr_Display(PyObject *file, PyObject *unused, PyObject *value, PyObject *tb)
 {
+    assert(value != NULL);
     assert(file != NULL && file != Py_None);
     if (PyExceptionInstance_Check(value)
         && tb != NULL && PyTraceBack_Check(tb)) {
@@ -1047,10 +1048,6 @@ _PyErr_Display(PyObject *file, PyObject *unused, PyObject *value, PyObject *tb)
 
     int unhandled_keyboard_interrupt = _PyRuntime.signals.unhandled_keyboard_interrupt;
 
-    if (!value || PyErr_GivenExceptionMatches(value, PyExc_MemoryError)) {
-        goto fallback;
-    }
-
     // Try first with the stdlib traceback module
     PyObject *traceback_module = PyImport_ImportModule("traceback");