diff --git a/mypy/checker.py b/mypy/checker.py
index 8973ade98228..5744a4ef4937 100644
--- a/mypy/checker.py
+++ b/mypy/checker.py
@@ -4305,7 +4305,7 @@ def visit_try_without_finally(self, s: TryStmt, try_frame: bool) -> None:
                     with self.binder.frame_context(can_skip=True, fall_through=4):
                         typ = s.types[i]
                         if typ:
-                            t = self.check_except_handler_test(typ)
+                            t = self.check_except_handler_test(typ, s.is_star)
                             var = s.vars[i]
                             if var:
                                 # To support local variables, we make this a definition line,
@@ -4325,7 +4325,7 @@ def visit_try_without_finally(self, s: TryStmt, try_frame: bool) -> None:
             if s.else_body:
                 self.accept(s.else_body)
 
-    def check_except_handler_test(self, n: Expression) -> Type:
+    def check_except_handler_test(self, n: Expression, is_star: bool) -> Type:
         """Type check an exception handler test clause."""
         typ = self.expr_checker.accept(n)
 
@@ -4341,22 +4341,47 @@ def check_except_handler_test(self, n: Expression) -> Type:
                 item = ttype.items[0]
                 if not item.is_type_obj():
                     self.fail(message_registry.INVALID_EXCEPTION_TYPE, n)
-                    return AnyType(TypeOfAny.from_error)
-                exc_type = item.ret_type
+                    return self.default_exception_type(is_star)
+                exc_type = erase_typevars(item.ret_type)
             elif isinstance(ttype, TypeType):
                 exc_type = ttype.item
             else:
                 self.fail(message_registry.INVALID_EXCEPTION_TYPE, n)
-                return AnyType(TypeOfAny.from_error)
+                return self.default_exception_type(is_star)
 
             if not is_subtype(exc_type, self.named_type("builtins.BaseException")):
                 self.fail(message_registry.INVALID_EXCEPTION_TYPE, n)
-                return AnyType(TypeOfAny.from_error)
+                return self.default_exception_type(is_star)
 
             all_types.append(exc_type)
 
+        if is_star:
+            new_all_types: list[Type] = []
+            for typ in all_types:
+                if is_proper_subtype(typ, self.named_type("builtins.BaseExceptionGroup")):
+                    self.fail(message_registry.INVALID_EXCEPTION_GROUP, n)
+                    new_all_types.append(AnyType(TypeOfAny.from_error))
+                else:
+                    new_all_types.append(typ)
+            return self.wrap_exception_group(new_all_types)
         return make_simplified_union(all_types)
 
+    def default_exception_type(self, is_star: bool) -> Type:
+        """Exception type to return in case of a previous type error."""
+        any_type = AnyType(TypeOfAny.from_error)
+        if is_star:
+            return self.named_generic_type("builtins.ExceptionGroup", [any_type])
+        return any_type
+
+    def wrap_exception_group(self, types: Sequence[Type]) -> Type:
+        """Transform except* variable type into an appropriate exception group."""
+        arg = make_simplified_union(types)
+        if is_subtype(arg, self.named_type("builtins.Exception")):
+            base = "builtins.ExceptionGroup"
+        else:
+            base = "builtins.BaseExceptionGroup"
+        return self.named_generic_type(base, [arg])
+
     def get_types_from_except_handler(self, typ: Type, n: Expression) -> list[Type]:
         """Helper for check_except_handler_test to retrieve handler types."""
         typ = get_proper_type(typ)
diff --git a/mypy/fastparse.py b/mypy/fastparse.py
index 0d42ef53f456..209ebb89f36b 100644
--- a/mypy/fastparse.py
+++ b/mypy/fastparse.py
@@ -1254,7 +1254,6 @@ def visit_Try(self, n: ast3.Try) -> TryStmt:
         return self.set_line(node, n)
 
     def visit_TryStar(self, n: TryStar) -> TryStmt:
-        # TODO: we treat TryStar exactly like Try, which makes mypy not crash. See #12840
         vs = [
             self.set_line(NameExpr(h.name), h) if h.name is not None else None for h in n.handlers
         ]
@@ -1269,6 +1268,7 @@ def visit_TryStar(self, n: TryStar) -> TryStmt:
             self.as_block(n.orelse, n.lineno),
             self.as_block(n.finalbody, n.lineno),
         )
+        node.is_star = True
         return self.set_line(node, n)
 
     # Assert(expr test, expr? msg)
diff --git a/mypy/message_registry.py b/mypy/message_registry.py
index c84ce120dbda..18acb2cd7a71 100644
--- a/mypy/message_registry.py
+++ b/mypy/message_registry.py
@@ -44,6 +44,9 @@ def with_additional_msg(self, info: str) -> ErrorMessage:
 NO_RETURN_EXPECTED: Final = ErrorMessage("Return statement in function which does not return")
 INVALID_EXCEPTION: Final = ErrorMessage("Exception must be derived from BaseException")
 INVALID_EXCEPTION_TYPE: Final = ErrorMessage("Exception type must be derived from BaseException")
+INVALID_EXCEPTION_GROUP: Final = ErrorMessage(
+    "Exception type in except* cannot derive from BaseExceptionGroup"
+)
 RETURN_IN_ASYNC_GENERATOR: Final = ErrorMessage(
     '"return" with value in async generator is not allowed'
 )
diff --git a/mypy/nodes.py b/mypy/nodes.py
index 9221ec48aa61..0ea89611dc1a 100644
--- a/mypy/nodes.py
+++ b/mypy/nodes.py
@@ -1529,9 +1529,9 @@ def accept(self, visitor: StatementVisitor[T]) -> T:
 
 
 class TryStmt(Statement):
-    __slots__ = ("body", "types", "vars", "handlers", "else_body", "finally_body")
+    __slots__ = ("body", "types", "vars", "handlers", "else_body", "finally_body", "is_star")
 
-    __match_args__ = ("body", "types", "vars", "handlers", "else_body", "finally_body")
+    __match_args__ = ("body", "types", "vars", "handlers", "else_body", "finally_body", "is_star")
 
     body: Block  # Try body
     # Plain 'except:' also possible
@@ -1540,6 +1540,8 @@ class TryStmt(Statement):
     handlers: list[Block]  # Except bodies
     else_body: Block | None
     finally_body: Block | None
+    # Whether this is try ... except* (added in Python 3.11)
+    is_star: bool
 
     def __init__(
         self,
@@ -1557,6 +1559,7 @@ def __init__(
         self.handlers = handlers
         self.else_body = else_body
         self.finally_body = finally_body
+        self.is_star = False
 
     def accept(self, visitor: StatementVisitor[T]) -> T:
         return visitor.visit_try_stmt(self)
diff --git a/mypy/strconv.py b/mypy/strconv.py
index 1acf7699316c..9b369618b88e 100644
--- a/mypy/strconv.py
+++ b/mypy/strconv.py
@@ -276,6 +276,8 @@ def visit_del_stmt(self, o: mypy.nodes.DelStmt) -> str:
 
     def visit_try_stmt(self, o: mypy.nodes.TryStmt) -> str:
         a: list[Any] = [o.body]
+        if o.is_star:
+            a.append("*")
 
         for i in range(len(o.vars)):
             a.append(o.types[i])
diff --git a/mypy/treetransform.py b/mypy/treetransform.py
index d7f159d02a22..c863db6b3dd5 100644
--- a/mypy/treetransform.py
+++ b/mypy/treetransform.py
@@ -373,7 +373,7 @@ def visit_raise_stmt(self, node: RaiseStmt) -> RaiseStmt:
         return RaiseStmt(self.optional_expr(node.expr), self.optional_expr(node.from_expr))
 
     def visit_try_stmt(self, node: TryStmt) -> TryStmt:
-        return TryStmt(
+        new = TryStmt(
             self.block(node.body),
             self.optional_names(node.vars),
             self.optional_expressions(node.types),
@@ -381,6 +381,8 @@ def visit_try_stmt(self, node: TryStmt) -> TryStmt:
             self.optional_block(node.else_body),
             self.optional_block(node.finally_body),
         )
+        new.is_star = node.is_star
+        return new
 
     def visit_with_stmt(self, node: WithStmt) -> WithStmt:
         new = WithStmt(
diff --git a/mypyc/irbuild/statement.py b/mypyc/irbuild/statement.py
index 371a305e67b9..a1d36c011aa1 100644
--- a/mypyc/irbuild/statement.py
+++ b/mypyc/irbuild/statement.py
@@ -616,6 +616,8 @@ def transform_try_stmt(builder: IRBuilder, t: TryStmt) -> None:
     # constructs that we compile separately. When we have a
     # try/except/else/finally, we treat the try/except/else as the
     # body of a try/finally block.
+    if t.is_star:
+        builder.error("Exception groups and except* cannot be compiled yet", t.line)
     if t.finally_body:
 
         def transform_try_body() -> None:
diff --git a/test-data/unit/check-python311.test b/test-data/unit/check-python311.test
index b98bccc9059d..9bf62b0c489d 100644
--- a/test-data/unit/check-python311.test
+++ b/test-data/unit/check-python311.test
@@ -1,6 +1,53 @@
-[case testTryStarDoesNotCrash]
+[case testTryStarSimple]
 try:
     pass
 except* Exception as e:
-    reveal_type(e)  # N: Revealed type is "builtins.Exception"
+    reveal_type(e)  # N: Revealed type is "builtins.ExceptionGroup[builtins.Exception]"
+[builtins fixtures/exception.pyi]
+
+[case testTryStarMultiple]
+try:
+    pass
+except* Exception as e:
+    reveal_type(e)  # N: Revealed type is "builtins.ExceptionGroup[builtins.Exception]"
+except* RuntimeError as e:
+    reveal_type(e)  # N: Revealed type is "builtins.ExceptionGroup[builtins.RuntimeError]"
+[builtins fixtures/exception.pyi]
+
+[case testTryStarBase]
+try:
+    pass
+except* BaseException as e:
+    reveal_type(e)  # N: Revealed type is "builtins.BaseExceptionGroup[builtins.BaseException]"
+[builtins fixtures/exception.pyi]
+
+[case testTryStarTuple]
+class Custom(Exception): ...
+
+try:
+    pass
+except* (RuntimeError, Custom) as e:
+    reveal_type(e)  # N: Revealed type is "builtins.ExceptionGroup[Union[builtins.RuntimeError, __main__.Custom]]"
+[builtins fixtures/exception.pyi]
+
+[case testTryStarInvalidType]
+class Bad: ...
+try:
+    pass
+except* (RuntimeError, Bad) as e:  # E: Exception type must be derived from BaseException
+    reveal_type(e)  # N: Revealed type is "builtins.ExceptionGroup[Any]"
+[builtins fixtures/exception.pyi]
+
+[case testTryStarGroupInvalid]
+try:
+    pass
+except* ExceptionGroup as e:  # E: Exception type in except* cannot derive from BaseExceptionGroup
+    reveal_type(e)  # N: Revealed type is "builtins.ExceptionGroup[Any]"
+[builtins fixtures/exception.pyi]
+
+[case testTryStarGroupInvalidTuple]
+try:
+    pass
+except* (RuntimeError, ExceptionGroup) as e:  # E: Exception type in except* cannot derive from BaseExceptionGroup
+    reveal_type(e)  # N: Revealed type is "builtins.ExceptionGroup[Union[builtins.RuntimeError, Any]]"
 [builtins fixtures/exception.pyi]
diff --git a/test-data/unit/fixtures/exception.pyi b/test-data/unit/fixtures/exception.pyi
index bf6d21c8716e..1c88723e7191 100644
--- a/test-data/unit/fixtures/exception.pyi
+++ b/test-data/unit/fixtures/exception.pyi
@@ -1,3 +1,4 @@
+import sys
 from typing import Generic, TypeVar
 T = TypeVar('T')
 
@@ -5,7 +6,8 @@ class object:
     def __init__(self): pass
 
 class type: pass
-class tuple(Generic[T]): pass
+class tuple(Generic[T]):
+    def __ge__(self, other: object) -> bool: ...
 class function: pass
 class int: pass
 class str: pass
@@ -13,11 +15,14 @@ class unicode: pass
 class bool: pass
 class ellipsis: pass
 
-# Note: this is a slight simplification. In Python 2, the inheritance hierarchy
-# is actually Exception -> StandardError -> RuntimeError -> ...
 class BaseException:
     def __init__(self, *args: object) -> None: ...
 class Exception(BaseException): pass
 class RuntimeError(Exception): pass
 class NotImplementedError(RuntimeError): pass
 
+if sys.version_info >= (3, 11):
+    _BT_co = TypeVar("_BT_co", bound=BaseException, covariant=True)
+    _T_co = TypeVar("_T_co", bound=Exception, covariant=True)
+    class BaseExceptionGroup(BaseException, Generic[_BT_co]): ...
+    class ExceptionGroup(BaseExceptionGroup[_T_co], Exception): ...