diff --git a/CHANGELOG.md b/CHANGELOG.md
index f60d742574..53d6c312dd 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -28,6 +28,7 @@ and this project adheres to [Semantic Versioning](https://semver.org).
 ### Fixed
 
 - Xls Reader resolving absolute named ranges to relative ranges [Issue #2826](https://github.com/PHPOffice/PhpSpreadsheet/issues/2826) [PR #2827](https://github.com/PHPOffice/PhpSpreadsheet/pull/2827)
+- Null value handling in the Excel Math/Trig PRODUCT() function [Issue #2833](https://github.com/PHPOffice/PhpSpreadsheet/issues/2833) [PR #2834](https://github.com/PHPOffice/PhpSpreadsheet/pull/2834)
 
 
 ## 1.23.0 - 2022-04-24
diff --git a/src/PhpSpreadsheet/Calculation/MathTrig/Operations.php b/src/PhpSpreadsheet/Calculation/MathTrig/Operations.php
index 7fd302339f..44e1352627 100644
--- a/src/PhpSpreadsheet/Calculation/MathTrig/Operations.php
+++ b/src/PhpSpreadsheet/Calculation/MathTrig/Operations.php
@@ -108,7 +108,7 @@ public static function product(...$args)
         // Loop through arguments
         foreach (Functions::flattenArray($args) as $arg) {
             // Is it a numeric value?
-            if (is_numeric($arg)) {
+            if (is_numeric($arg) || $arg === null) {
                 if ($returnValue === null) {
                     $returnValue = $arg;
                 } else {
diff --git a/tests/data/Calculation/MathTrig/PRODUCT.php b/tests/data/Calculation/MathTrig/PRODUCT.php
index 0e7c408020..ab5009535b 100644
--- a/tests/data/Calculation/MathTrig/PRODUCT.php
+++ b/tests/data/Calculation/MathTrig/PRODUCT.php
@@ -48,6 +48,18 @@
         -6.7800000000000002,
         -2,
     ],
+    [
+        0,
+        12.5,
+        null,
+        2.5,
+    ],
+    [
+        0,
+        12.5,
+        2.5,
+        null,
+    ],
     ['#VALUE!', 1, 'y', 3],
     [6, 1, '2', 3],
 ];