diff --git a/Lib/asyncio/base_events.py b/Lib/asyncio/base_events.py
index cec47ce67f3824..ea828c177285e9 100644
--- a/Lib/asyncio/base_events.py
+++ b/Lib/asyncio/base_events.py
@@ -59,7 +59,8 @@
 # Exceptions which must not call the exception handler in fatal error
 # methods (_fatal_error())
 _FATAL_ERROR_IGNORE = (BrokenPipeError,
-                       ConnectionResetError, ConnectionAbortedError)
+                       ConnectionResetError, ConnectionAbortedError,
+                       TimeoutError)
 
 if ssl is not None:
     _FATAL_ERROR_IGNORE = _FATAL_ERROR_IGNORE + (ssl.SSLCertVerificationError,)
diff --git a/Misc/NEWS.d/next/Library/2019-01-16-09-55-05.bpo-34148.J5A1QC.rst b/Misc/NEWS.d/next/Library/2019-01-16-09-55-05.bpo-34148.J5A1QC.rst
new file mode 100644
index 00000000000000..463fe459857d87
--- /dev/null
+++ b/Misc/NEWS.d/next/Library/2019-01-16-09-55-05.bpo-34148.J5A1QC.rst
@@ -0,0 +1,2 @@
+Don't log exception traceback when :exc:`TimeoutError` is occurred in
+asyncio transport.