diff --git a/doc/source/whatsnew/v1.6.0.rst b/doc/source/whatsnew/v1.6.0.rst
index 2394d4721edfc..62605c6352ba0 100644
--- a/doc/source/whatsnew/v1.6.0.rst
+++ b/doc/source/whatsnew/v1.6.0.rst
@@ -216,6 +216,7 @@ Indexing
 Missing
 ^^^^^^^
 - Bug in :meth:`Index.equals` raising ``TypeError`` when :class:`Index` consists of tuples that contain ``NA`` (:issue:`48446`)
+- Bug when calling :meth:`Series.to_numpy` on a Series of ``object`` dtype containing ``pd.NA`` was raising even if ``na_value`` was valid (:issue:`48951`)
 -
 
 MultiIndex
diff --git a/pandas/core/base.py b/pandas/core/base.py
index 927a3ed6a601c..067b25de92c4d 100644
--- a/pandas/core/base.py
+++ b/pandas/core/base.py
@@ -537,12 +537,14 @@ def to_numpy(
                 f"to_numpy() got an unexpected keyword argument '{bad_keys}'"
             )
 
-        result = np.asarray(self._values, dtype=dtype)
         # TODO(GH-24345): Avoid potential double copy
         if copy or na_value is not lib.no_default:
-            result = result.copy()
+            result = self._values.copy()
             if na_value is not lib.no_default:
                 result[np.asanyarray(self.isna())] = na_value
+            result = np.asarray(result, dtype=dtype)
+        else:
+            result = np.asarray(self._values, dtype=dtype)
         return result
 
     @property
diff --git a/pandas/core/internals/managers.py b/pandas/core/internals/managers.py
index f3b7af0ea819d..05ca6c49d3c3a 100644
--- a/pandas/core/internals/managers.py
+++ b/pandas/core/internals/managers.py
@@ -1745,10 +1745,13 @@ def as_array(
                     dtype=dtype,
                     na_value=na_value,
                 ).reshape(blk.shape)
+            elif na_value is lib.no_default:
+                arr = np.asarray(blk.get_values(dtype))
             else:
-                arr = np.asarray(blk.get_values())
-                if dtype:
-                    arr = arr.astype(dtype, copy=False)
+                arr = np.asarray(blk.get_values().copy())
+                arr = np.where(~isna(arr), arr, na_value).astype(dtype)
+                # We've already copied the underlying data
+                copy = False
         else:
             arr = self._interleave(dtype=dtype, na_value=na_value)
             # The underlying data was copied within _interleave
@@ -1815,7 +1818,7 @@ def _interleave(
                 )
             else:
                 arr = blk.get_values(dtype)
-            result[rl.indexer] = arr
+            result[rl.indexer] = np.where(~isna(arr), arr, na_value)
             itemmask[rl.indexer] = 1
 
         if not itemmask.all():
diff --git a/pandas/tests/base/test_conversion.py b/pandas/tests/base/test_conversion.py
index 599aaae4d3527..4a2650708c461 100644
--- a/pandas/tests/base/test_conversion.py
+++ b/pandas/tests/base/test_conversion.py
@@ -398,6 +398,7 @@ def test_to_numpy_dtype(as_series):
     "values, dtype, na_value, expected",
     [
         ([1, 2, None], "float64", 0, [1.0, 2.0, 0.0]),
+        ([1, 2, pd.NA, 4], "int32", 0, [1, 2, 0, 4]),
         (
             [Timestamp("2000"), Timestamp("2000"), pd.NaT],
             None,
@@ -411,7 +412,7 @@ def test_to_numpy_na_value_numpy_dtype(
 ):
     obj = index_or_series(values)
     result = obj.to_numpy(dtype=dtype, na_value=na_value)
-    expected = np.array(expected)
+    expected = np.array(expected, dtype=dtype)
     tm.assert_numpy_array_equal(result, expected)
 
 
@@ -477,6 +478,7 @@ def test_to_numpy_kwargs_raises():
         {"a": [1, 2, 3], "b": [1, 2, None]},
         {"a": np.array([1, 2, 3]), "b": np.array([1, 2, np.nan])},
         {"a": pd.array([1, 2, 3]), "b": pd.array([1, 2, None])},
+        {"a": np.array([1, 2, 3]), "b": np.array([1, 2, pd.NA])},
     ],
 )
 @pytest.mark.parametrize("dtype, na_value", [(float, np.nan), (object, None)])
@@ -489,22 +491,34 @@ def test_to_numpy_dataframe_na_value(data, dtype, na_value):
 
 
 @pytest.mark.parametrize(
-    "data, expected",
+    "data, dtype, expected",
     [
         (
             {"a": pd.array([1, 2, None])},
+            float,
             np.array([[1.0], [2.0], [np.nan]], dtype=float),
         ),
+        (
+            {"a": np.array([1, 2, pd.NA])},
+            float,
+            np.array([[1.0], [2.0], [np.nan]]),
+        ),
+        (
+            {"a": np.array(["a", "b", pd.NA])},
+            object,
+            np.array([["a"], ["b"], [np.nan]], dtype=object),
+        ),
         (
             {"a": [1, 2, 3], "b": [1, 2, 3]},
+            float,
             np.array([[1, 1], [2, 2], [3, 3]], dtype=float),
         ),
     ],
 )
-def test_to_numpy_dataframe_single_block(data, expected):
+def test_to_numpy_dataframe_single_block(data, dtype, expected):
     # https://github.com/pandas-dev/pandas/issues/33820
     df = pd.DataFrame(data)
-    result = df.to_numpy(dtype=float, na_value=np.nan)
+    result = df.to_numpy(dtype=dtype, na_value=np.nan)
     tm.assert_numpy_array_equal(result, expected)