diff --git a/server/src/main/java/org/elasticsearch/action/support/RetryableAction.java b/server/src/main/java/org/elasticsearch/action/support/RetryableAction.java
index a8916837b996e..ba57364aa0e3b 100644
--- a/server/src/main/java/org/elasticsearch/action/support/RetryableAction.java
+++ b/server/src/main/java/org/elasticsearch/action/support/RetryableAction.java
@@ -25,6 +25,7 @@
 import org.elasticsearch.action.ActionRunnable;
 import org.elasticsearch.common.Randomness;
 import org.elasticsearch.common.unit.TimeValue;
+import org.elasticsearch.threadpool.Scheduler;
 import org.elasticsearch.threadpool.ThreadPool;
 
 import java.util.ArrayDeque;
@@ -48,6 +49,8 @@ public abstract class RetryableAction<Response> {
     private final ActionListener<Response> finalListener;
     private final String executor;
 
+    private volatile Scheduler.ScheduledCancellable retryTask;
+
     public RetryableAction(Logger logger, ThreadPool threadPool, TimeValue initialDelay, TimeValue timeoutValue,
                            ActionListener<Response> listener) {
         this(logger, threadPool, initialDelay, timeoutValue, listener, ThreadPool.Names.SAME);
@@ -75,6 +78,10 @@ public void run() {
 
     public void cancel(Exception e) {
         if (isDone.compareAndSet(false, true)) {
+            Scheduler.ScheduledCancellable localRetryTask = this.retryTask;
+            if (localRetryTask != null) {
+                localRetryTask.cancel();
+            }
             finalListener.onFailure(e);
         }
     }
@@ -84,11 +91,16 @@ private Runnable createRunnable(RetryingListener retryingListener) {
 
             @Override
             protected void doRun() {
-                tryAction(listener);
+                retryTask = null;
+                // It is possible that the task was cancelled in between the retry being dispatched and now
+                if (isDone.get() == false) {
+                    tryAction(listener);
+                }
             }
 
             @Override
             public void onRejection(Exception e) {
+                retryTask = null;
                 // TODO: The only implementations of this class use SAME which means the execution will not be
                 //  rejected. Future implementations can adjust this functionality as needed.
                 onFailure(e);
@@ -140,7 +152,7 @@ public void onFailure(Exception e) {
                     if (isDone.get() == false) {
                         final TimeValue delay = TimeValue.timeValueMillis(delayMillis);
                         logger.debug(() -> new ParameterizedMessage("retrying action that failed in {}", delay), e);
-                        threadPool.schedule(runnable, delay, executor);
+                        retryTask = threadPool.schedule(runnable, delay, executor);
                     }
                 }
             } else {
diff --git a/server/src/test/java/org/elasticsearch/action/support/RetryableActionTests.java b/server/src/test/java/org/elasticsearch/action/support/RetryableActionTests.java
index 96b523aee56db..22ac8acf2402b 100644
--- a/server/src/test/java/org/elasticsearch/action/support/RetryableActionTests.java
+++ b/server/src/test/java/org/elasticsearch/action/support/RetryableActionTests.java
@@ -201,7 +201,8 @@ public boolean shouldRetry(Exception e) {
         retryableAction.cancel(new ElasticsearchException("Cancelled"));
         taskQueue.runAllRunnableTasks();
 
-        assertEquals(2, executedCount.get());
+        // A second run will not occur because it is cancelled
+        assertEquals(1, executedCount.get());
         expectThrows(ElasticsearchException.class, future::actionGet);
     }
 }