diff --git a/airflow/jobs/scheduler_job.py b/airflow/jobs/scheduler_job.py
index 2fedf807958c2..490d5077be66e 100644
--- a/airflow/jobs/scheduler_job.py
+++ b/airflow/jobs/scheduler_job.py
@@ -375,6 +375,17 @@ def _executable_task_instances_to_queued(self, max_tis: int, session: Session =
                     # Many dags don't have a task_concurrency, so where we can avoid loading the full
                     # serialized DAG the better.
                     serialized_dag = self.dagbag.get_dag(dag_id, session=session)
+                    # If the dag is missing, fail the task and continue to the next task.
+                    if not serialized_dag:
+                        self.log.error(
+                            "DAG '%s' for task instance %s not found in serialized_dag table",
+                            dag_id,
+                            task_instance,
+                        )
+                        session.query(TI).filter(TI.dag_id == dag_id, TI.state == State.SCHEDULED).update(
+                            {TI.state: State.FAILED}, synchronize_session='fetch'
+                        )
+                        continue
                     if serialized_dag.has_task(task_instance.task_id):
                         task_concurrency_limit = serialized_dag.get_task(
                             task_instance.task_id
diff --git a/tests/jobs/test_scheduler_job.py b/tests/jobs/test_scheduler_job.py
index a308029a7da1c..718572004016e 100644
--- a/tests/jobs/test_scheduler_job.py
+++ b/tests/jobs/test_scheduler_job.py
@@ -610,6 +610,34 @@ def test_find_executable_task_instances_in_default_pool(self, dag_maker):
         session.rollback()
         session.close()
 
+    def test_queued_task_instances_fails_with_missing_dag(self, dag_maker, session):
+        """Check that task instances of missing DAGs are failed"""
+        dag_id = 'SchedulerJobTest.test_find_executable_task_instances_not_in_dagbag'
+        task_id_1 = 'dummy'
+        task_id_2 = 'dummydummy'
+
+        with dag_maker(dag_id=dag_id, session=session, default_args={"max_active_tis_per_dag": 1}):
+            DummyOperator(task_id=task_id_1)
+            DummyOperator(task_id=task_id_2)
+
+        self.scheduler_job = SchedulerJob(subdir=os.devnull)
+        self.scheduler_job.dagbag = mock.MagicMock()
+        self.scheduler_job.dagbag.get_dag.return_value = None
+
+        dr = dag_maker.create_dagrun(state=DagRunState.RUNNING)
+
+        tis = dr.task_instances
+        for ti in tis:
+            ti.state = State.SCHEDULED
+            session.merge(ti)
+        session.flush()
+        res = self.scheduler_job._executable_task_instances_to_queued(max_tis=32, session=session)
+        session.flush()
+        assert 0 == len(res)
+        tis = dr.get_task_instances(session=session)
+        assert len(tis) == 2
+        assert all(ti.state == State.FAILED for ti in tis)
+
     def test_nonexistent_pool(self, dag_maker):
         dag_id = 'SchedulerJobTest.test_nonexistent_pool'
         with dag_maker(dag_id=dag_id, max_active_tasks=16):