diff --git a/CHANGELOG.md b/CHANGELOG.md
index f126e45d1..8cca87815 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -16,6 +16,7 @@ This change log adheres to standards from [Keep a CHANGELOG](http://keepachangel
 - [`order`]/[`newline-after-import`]: ignore TypeScript's "export import object" ([#1830], thanks [@be5invis])
 - [`dynamic-import-chunkname`]/TypeScript: supports `@typescript-eslint/parser` ([#1833], thanks [@noelebrun])
 - [`order`]/TypeScript: ignore ordering of object imports ([#1831], thanks [@manuth])
+- [`namespace`]: do not report on shadowed import names ([#518], thanks [@ljharb])
 
 ### Changed
 - [`no-extraneous-dependencies`]: add tests for importing types ([#1824], thanks [@taye])
@@ -887,6 +888,7 @@ for info on changes for earlier releases.
 [#555]: https://github.com/benmosher/eslint-plugin-import/pull/555
 [#538]: https://github.com/benmosher/eslint-plugin-import/pull/538
 [#527]: https://github.com/benmosher/eslint-plugin-import/pull/527
+[#518]: https://github.com/benmosher/eslint-plugin-import/pull/518
 [#509]: https://github.com/benmosher/eslint-plugin-import/pull/509
 [#508]: https://github.com/benmosher/eslint-plugin-import/pull/508
 [#503]: https://github.com/benmosher/eslint-plugin-import/pull/503
diff --git a/src/rules/namespace.js b/src/rules/namespace.js
index 013e04d72..90784c076 100644
--- a/src/rules/namespace.js
+++ b/src/rules/namespace.js
@@ -106,6 +106,7 @@ module.exports = {
       MemberExpression(dereference) {
         if (dereference.object.type !== 'Identifier') return
         if (!namespaces.has(dereference.object.name)) return
+        if (declaredScope(context, dereference.object.name) !== 'module') return
 
         if (dereference.parent.type === 'AssignmentExpression' && dereference.parent.left === dereference) {
             context.report(
diff --git a/tests/files/color.js b/tests/files/color.js
new file mode 100644
index 000000000..dcdbf84ac
--- /dev/null
+++ b/tests/files/color.js
@@ -0,0 +1 @@
+export const example = 'example';
diff --git a/tests/src/rules/namespace.js b/tests/src/rules/namespace.js
index 1f594dbbd..93d503eb4 100644
--- a/tests/src/rules/namespace.js
+++ b/tests/src/rules/namespace.js
@@ -164,6 +164,14 @@ const valid = [
   ]),
 
   ...SYNTAX_CASES,
+
+  test({
+    code: `
+    import * as color from './color';
+    export const getBackgroundFromColor = (color) => color.bg;
+    export const getExampleColor = () => color.example
+    `,
+  }),
 ]
 
 const invalid = [