diff --git a/CHANGELOG.md b/CHANGELOG.md
index e056ea33b35..792e073a307 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -25,6 +25,7 @@
 * [#7688](https://github.com/rubocop-hq/rubocop/issues/7688): Fix a bug in `Style/MethodCallWithArgsParentheses` that made `--auto-gen-config` crash. ([@buehmann][])
 * [#7203](https://github.com/rubocop-hq/rubocop/issues/7203): Fix an infinite loop error for `Style/TernaryParentheses` with `Style/RedundantParentheses` when using `EnforcedStyle: require_parentheses_when_complex`. ([@koic][])
 * [#7708](https://github.com/rubocop-hq/rubocop/issues/7708): Make it possible to use EOL `rubocop:disable` comments on comment lines. ([@jonas054][])
+* [#7712](https://github.com/rubocop-hq/rubocop/issues/7712): Fix an incorrect autocorrect for `Style/OrAssignment` when using `elsif` branch. ([@koic][])
 
 ### Changes
 
diff --git a/lib/rubocop/cop/style/or_assignment.rb b/lib/rubocop/cop/style/or_assignment.rb
index d7d8272f43a..fe3df4a73fe 100644
--- a/lib/rubocop/cop/style/or_assignment.rb
+++ b/lib/rubocop/cop/style/or_assignment.rb
@@ -34,7 +34,7 @@ class OrAssignment < Cop
             (if
               ({lvar ivar cvar gvar} _var)
               ({lvar ivar cvar gvar} _var)
-              _))
+              $_))
         PATTERN
 
         def_node_matcher :unless_assignment?, <<~PATTERN
@@ -51,7 +51,8 @@ def on_if(node)
         end
 
         def on_lvasgn(node)
-          return unless ternary_assignment?(node)
+          return unless (else_branch = ternary_assignment?(node))
+          return if else_branch.if_type?
 
           add_offense(node)
         end
diff --git a/spec/rubocop/cop/style/or_assignment_spec.rb b/spec/rubocop/cop/style/or_assignment_spec.rb
index fe0334ae09b..7ec9df90fcc 100644
--- a/spec/rubocop/cop/style/or_assignment_spec.rb
+++ b/spec/rubocop/cop/style/or_assignment_spec.rb
@@ -321,4 +321,18 @@
       RUBY
     end
   end
+
+  context 'when using `elsif` statement' do
+    it 'does not register an offense' do
+      expect_no_offenses(<<~RUBY)
+        foo = if foo
+                foo
+              elsif
+                bar
+              else
+                'default'
+              end
+      RUBY
+    end
+  end
 end