diff --git a/changelog.d/12313.misc b/changelog.d/12313.misc
new file mode 100644
index 0000000000..f59f6cdc40
--- /dev/null
+++ b/changelog.d/12313.misc
@@ -0,0 +1 @@
+Fix compatibility with the recently-released Jinja 3.1.
diff --git a/synapse/push/mailer.py b/synapse/push/mailer.py
index 649a4f49d0..5ccdd88364 100644
--- a/synapse/push/mailer.py
+++ b/synapse/push/mailer.py
@@ -18,6 +18,7 @@ from typing import TYPE_CHECKING, Dict, Iterable, List, Optional, TypeVar
 
 import bleach
 import jinja2
+from markupsafe import Markup
 
 from synapse.api.constants import EventTypes, Membership, RoomTypes
 from synapse.api.errors import StoreError
@@ -867,7 +868,7 @@ class Mailer:
         )
 
 
-def safe_markup(raw_html: str) -> jinja2.Markup:
+def safe_markup(raw_html: str) -> Markup:
     """
     Sanitise a raw HTML string to a set of allowed tags and attributes, and linkify any bare URLs.
 
@@ -877,7 +878,7 @@ def safe_markup(raw_html: str) -> jinja2.Markup:
     Returns:
         A Markup object ready to safely use in a Jinja template.
     """
-    return jinja2.Markup(
+    return Markup(
         bleach.linkify(
             bleach.clean(
                 raw_html,
@@ -891,7 +892,7 @@ def safe_markup(raw_html: str) -> jinja2.Markup:
     )
 
 
-def safe_text(raw_text: str) -> jinja2.Markup:
+def safe_text(raw_text: str) -> Markup:
     """
     Sanitise text (escape any HTML tags), and then linkify any bare URLs.
 
@@ -901,7 +902,7 @@ def safe_text(raw_text: str) -> jinja2.Markup:
     Returns:
         A Markup object ready to safely use in a Jinja template.
     """
-    return jinja2.Markup(
+    return Markup(
         bleach.linkify(bleach.clean(raw_text, tags=[], attributes=[], strip=False))
     )
 
diff --git a/synapse/python_dependencies.py b/synapse/python_dependencies.py
index 79ae06ce5d..8419ab3aca 100644
--- a/synapse/python_dependencies.py
+++ b/synapse/python_dependencies.py
@@ -74,8 +74,10 @@ REQUIREMENTS = [
     # Note: 21.1.0 broke `/sync`, see #9936
     "attrs>=19.2.0,!=21.1.0",
     "netaddr>=0.7.18",
-    # Jinja2 3.1.0 removes the deprecated jinja2.Markup class, which we rely on.
-    "Jinja2<3.1.0",
+    # Jinja 2.x is incompatible with MarkupSafe>=2.1. To ensure that admins do not
+    # end up with a broken installation, with recent MarkupSafe but old Jinja, we
+    # add a lower bound to the Jinja2 dependency.
+    "Jinja2>=3.0",
     "bleach>=1.4.3",
     # We use `ParamSpec`, which was added in `typing-extensions` 3.10.0.0.
     "typing-extensions>=3.10.0",