diff --git a/CHANGES/7869.bugfix b/CHANGES/7869.bugfix
new file mode 100644
index 00000000000..23282fc3bb4
--- /dev/null
+++ b/CHANGES/7869.bugfix
@@ -0,0 +1 @@
+Fix ClientResponse.close releasing the connection instead of closing
diff --git a/aiohttp/client_reqrep.py b/aiohttp/client_reqrep.py
index f05a08637f2..21858fc345a 100644
--- a/aiohttp/client_reqrep.py
+++ b/aiohttp/client_reqrep.py
@@ -967,7 +967,9 @@ def close(self) -> None:
             return
 
         self._cleanup_writer()
-        self._release_connection()
+        if self._connection is not None:
+            self._connection.close()
+            self._connection = None
 
     def release(self) -> Any:
         if not self._released:
diff --git a/tests/test_client_functional.py b/tests/test_client_functional.py
index 38983244097..4f0d594cb1f 100644
--- a/tests/test_client_functional.py
+++ b/tests/test_client_functional.py
@@ -20,6 +20,7 @@
 from aiohttp import Fingerprint, ServerFingerprintMismatch, hdrs, web
 from aiohttp.abc import AbstractResolver
 from aiohttp.client_exceptions import TooManyRedirects
+from aiohttp.pytest_plugin import AiohttpClient, TestClient
 from aiohttp.test_utils import unused_port
 
 
@@ -3175,6 +3176,39 @@ async def handler(request):
         await client.get("/")
 
 
+async def test_read_timeout_closes_connection(aiohttp_client: AiohttpClient) -> None:
+    request_count = 0
+
+    async def handler(request):
+        nonlocal request_count
+        request_count += 1
+        if request_count < 3:
+            await asyncio.sleep(0.5)
+        return web.Response(body=f"request:{request_count}")
+
+    app = web.Application()
+    app.add_routes([web.get("/", handler)])
+
+    timeout = aiohttp.ClientTimeout(total=0.1)
+    client: TestClient = await aiohttp_client(app, timeout=timeout)
+    with pytest.raises(asyncio.TimeoutError):
+        await client.get("/")
+
+    # Make sure its really closed
+    assert not client.session.connector._conns
+
+    with pytest.raises(asyncio.TimeoutError):
+        await client.get("/")
+
+    # Make sure its really closed
+    assert not client.session.connector._conns
+    result = await client.get("/")
+    assert await result.read() == b"request:3"
+
+    # Make sure its not closed
+    assert client.session.connector._conns
+
+
 async def test_read_timeout_on_prepared_response(aiohttp_client: Any) -> None:
     async def handler(request):
         resp = aiohttp.web.StreamResponse()