diff --git a/crates/ty_python_semantic/resources/mdtest/annotations/self.md b/crates/ty_python_semantic/resources/mdtest/annotations/self.md
index 4be59a5a63..57690b3dc3 100644
--- a/crates/ty_python_semantic/resources/mdtest/annotations/self.md
+++ b/crates/ty_python_semantic/resources/mdtest/annotations/self.md
@@ -232,6 +232,32 @@ class C:
 reveal_type(not_a_method)  # revealed: def not_a_method(self) -> Unknown
 ```
 
+## Different occurrences of `Self` represent different types
+
+Here, both `Foo.foo` and `Bar.bar` use `Self`. When accessing a bound method, we replace any
+occurrences of `Self` with the bound `self` type. In this example, when we access `x.foo`, we only
+want to substitute the occurrences of `Self` in `Foo.foo` — that is, occurrences of `Self@foo`. The
+fact that `x` is an instance of `Foo[Self@bar]` (a completely different `Self` type) should not
+affect that subtitution. If we blindly substitute all occurrences of `Self`, we would get
+`Foo[Self@bar]` as the return type of the bound method.
+
+```py
+from typing import Self
+
+class Foo[T]:
+    def foo(self: Self) -> T:
+        raise NotImplementedError
+
+class Bar:
+    def bar(self: Self, x: Foo[Self]):
+        # revealed: bound method Foo[Self@bar].foo() -> Self@bar
+        reveal_type(x.foo)
+
+def f[U: Bar](x: Foo[U]):
+    # revealed: bound method Foo[U@f].foo() -> U@f
+    reveal_type(x.foo)
+```
+
 ## typing_extensions
 
 ```toml
diff --git a/crates/ty_python_semantic/src/types.rs b/crates/ty_python_semantic/src/types.rs
index 494f4efa83..7c65a4715e 100644
--- a/crates/ty_python_semantic/src/types.rs
+++ b/crates/ty_python_semantic/src/types.rs
@@ -7550,10 +7550,9 @@ impl<'db> Type<'db> {
         // If we are binding `typing.Self`, and this type is what we are binding `Self` to, return
         // early. This is not just an optimization, it also prevents us from infinitely expanding
         // the type, if it's something that can contain a `Self` reference.
-        if let TypeMapping::BindSelf(self_type) = type_mapping
-            && self == *self_type
-        {
-            return self;
+        match type_mapping {
+            TypeMapping::BindSelf { self_type, .. } if self == *self_type => return self,
+            _ => {}
         }
 
         match self {
@@ -7568,7 +7567,7 @@ impl<'db> Type<'db> {
                         TypeMapping::Specialization(_) |
                         TypeMapping::PartialSpecialization(_) |
                         TypeMapping::PromoteLiterals(_) |
-                        TypeMapping::BindSelf(_) |
+                        TypeMapping::BindSelf { .. } |
                         TypeMapping::ReplaceSelf { .. } |
                         TypeMapping::Materialize(_) |
                         TypeMapping::ReplaceParameterDefaults |
@@ -7744,7 +7743,7 @@ impl<'db> Type<'db> {
                 TypeMapping::Specialization(_) |
                 TypeMapping::PartialSpecialization(_) |
                 TypeMapping::BindLegacyTypevars(_) |
-                TypeMapping::BindSelf(_) |
+                TypeMapping::BindSelf { .. } |
                 TypeMapping::ReplaceSelf { .. } |
                 TypeMapping::Materialize(_) |
                 TypeMapping::ReplaceParameterDefaults |
@@ -7757,7 +7756,7 @@ impl<'db> Type<'db> {
                 TypeMapping::Specialization(_) |
                 TypeMapping::PartialSpecialization(_) |
                 TypeMapping::BindLegacyTypevars(_) |
-                TypeMapping::BindSelf(_) |
+                TypeMapping::BindSelf { .. } |
                 TypeMapping::ReplaceSelf { .. } |
                 TypeMapping::PromoteLiterals(_) |
                 TypeMapping::ReplaceParameterDefaults |
@@ -8421,7 +8420,10 @@ pub enum TypeMapping<'a, 'db> {
     /// being used in.
     BindLegacyTypevars(BindingContext<'db>),
     /// Binds any `typing.Self` typevar with a particular `self` class.
-    BindSelf(Type<'db>),
+    BindSelf {
+        self_type: Type<'db>,
+        binding_context: Option<BindingContext<'db>>,
+    },
     /// Replaces occurrences of `typing.Self` with a new `Self` type variable with the given upper bound.
     ReplaceSelf { new_upper_bound: Type<'db> },
     /// Create the top or bottom materialization of a type.
@@ -8449,7 +8451,7 @@ impl<'db> TypeMapping<'_, 'db> {
             | TypeMapping::Materialize(_)
             | TypeMapping::ReplaceParameterDefaults
             | TypeMapping::EagerExpansion => context,
-            TypeMapping::BindSelf(_) => GenericContext::from_typevar_instances(
+            TypeMapping::BindSelf { .. } => GenericContext::from_typevar_instances(
                 db,
                 context
                     .variables(db)
@@ -8482,7 +8484,7 @@ impl<'db> TypeMapping<'_, 'db> {
             TypeMapping::Specialization(_)
             | TypeMapping::PartialSpecialization(_)
             | TypeMapping::BindLegacyTypevars(_)
-            | TypeMapping::BindSelf(_)
+            | TypeMapping::BindSelf { .. }
             | TypeMapping::ReplaceSelf { .. }
             | TypeMapping::ReplaceParameterDefaults
             | TypeMapping::EagerExpansion => self.clone(),
@@ -9837,8 +9839,13 @@ impl<'db> BoundTypeVarInstance<'db> {
             TypeMapping::PartialSpecialization(partial) => {
                 partial.get(db, self).unwrap_or(Type::TypeVar(self))
             }
-            TypeMapping::BindSelf(self_type) => {
-                if self.typevar(db).is_self(db) {
+            TypeMapping::BindSelf {
+                self_type,
+                binding_context,
+            } => {
+                if self.typevar(db).is_self(db)
+                    && binding_context.is_none_or(|context| self.binding_context(db) == context)
+                {
                     *self_type
                 } else {
                     Type::TypeVar(self)
diff --git a/crates/ty_python_semantic/src/types/signatures.rs b/crates/ty_python_semantic/src/types/signatures.rs
index 738fcfb971..d091b8a53f 100644
--- a/crates/ty_python_semantic/src/types/signatures.rs
+++ b/crates/ty_python_semantic/src/types/signatures.rs
@@ -29,9 +29,10 @@ use crate::types::generics::{
 };
 use crate::types::infer::nearest_enclosing_class;
 use crate::types::{
-    ApplyTypeMappingVisitor, BoundTypeVarInstance, ClassLiteral, FindLegacyTypeVarsVisitor,
-    HasRelationToVisitor, IsDisjointVisitor, IsEquivalentVisitor, KnownClass, MaterializationKind,
-    NormalizedVisitor, TypeContext, TypeMapping, TypeRelation, VarianceInferable, todo_type,
+    ApplyTypeMappingVisitor, BindingContext, BoundTypeVarInstance, ClassLiteral,
+    FindLegacyTypeVarsVisitor, HasRelationToVisitor, IsDisjointVisitor, IsEquivalentVisitor,
+    KnownClass, MaterializationKind, NormalizedVisitor, TypeContext, TypeMapping, TypeRelation,
+    VarianceInferable, todo_type,
 };
 use crate::{Db, FxOrderSet};
 use ruff_python_ast::{self as ast, name::Name};
@@ -667,19 +668,18 @@ impl<'db> Signature<'db> {
         let mut parameters = Parameters::new(db, parameters);
         let mut return_ty = self.return_ty;
         if let Some(self_type) = self_type {
+            let self_mapping = TypeMapping::BindSelf {
+                self_type,
+                binding_context: self.definition.map(BindingContext::Definition),
+            };
             parameters = parameters.apply_type_mapping_impl(
                 db,
-                &TypeMapping::BindSelf(self_type),
+                &self_mapping,
                 TypeContext::default(),
                 &ApplyTypeMappingVisitor::default(),
             );
-            return_ty = return_ty.map(|ty| {
-                ty.apply_type_mapping(
-                    db,
-                    &TypeMapping::BindSelf(self_type),
-                    TypeContext::default(),
-                )
-            });
+            return_ty = return_ty
+                .map(|ty| ty.apply_type_mapping(db, &self_mapping, TypeContext::default()));
         }
         Self {
             generic_context: self.generic_context,
@@ -690,19 +690,19 @@ impl<'db> Signature<'db> {
     }
 
     pub(crate) fn apply_self(&self, db: &'db dyn Db, self_type: Type<'db>) -> Self {
+        let self_mapping = TypeMapping::BindSelf {
+            self_type,
+            binding_context: self.definition.map(BindingContext::Definition),
+        };
         let parameters = self.parameters.apply_type_mapping_impl(
             db,
-            &TypeMapping::BindSelf(self_type),
+            &self_mapping,
             TypeContext::default(),
             &ApplyTypeMappingVisitor::default(),
         );
-        let return_ty = self.return_ty.map(|ty| {
-            ty.apply_type_mapping(
-                db,
-                &TypeMapping::BindSelf(self_type),
-                TypeContext::default(),
-            )
-        });
+        let return_ty = self
+            .return_ty
+            .map(|ty| ty.apply_type_mapping(db, &self_mapping, TypeContext::default()));
         Self {
             generic_context: self.generic_context,
             definition: self.definition,