diff --git a/doc/whatsnew/fragments/8753.bugfix b/doc/whatsnew/fragments/8753.bugfix
new file mode 100644
index 0000000000..7b0ba8cc78
--- /dev/null
+++ b/doc/whatsnew/fragments/8753.bugfix
@@ -0,0 +1,3 @@
+Fix a false positive for ``method-hidden`` when using ``cached_property`` decorator.
+
+Closes #8753
diff --git a/pylint/checkers/classes/class_checker.py b/pylint/checkers/classes/class_checker.py
index bdfb0968a4..377673f4b7 100644
--- a/pylint/checkers/classes/class_checker.py
+++ b/pylint/checkers/classes/class_checker.py
@@ -49,6 +49,7 @@
 _AccessNodes = Union[nodes.Attribute, nodes.AssignAttr]
 
 INVALID_BASE_CLASSES = {"bool", "range", "slice", "memoryview"}
+ALLOWED_PROPERTIES = {"bultins.property", "functools.cached_property"}
 BUILTIN_DECORATORS = {"builtins.property", "builtins.classmethod"}
 ASTROID_TYPE_COMPARATORS = {
     nodes.Const: lambda a, b: a.value == b.value,
@@ -1252,11 +1253,15 @@ def visit_functiondef(self, node: nodes.FunctionDef) -> None:
                     # attribute affectation will call this method, not hiding it
                     return
                 if isinstance(decorator, nodes.Name):
-                    if decorator.name == "property":
+                    if decorator.name in ALLOWED_PROPERTIES:
                         # attribute affectation will either call a setter or raise
                         # an attribute error, anyway not hiding the function
                         return
 
+                if isinstance(decorator, nodes.Attribute):
+                    if self._check_functools_or_not(decorator):
+                        return
+
                 # Infer the decorator and see if it returns something useful
                 inferred = safe_infer(decorator)
                 if not inferred:
@@ -1454,6 +1459,24 @@ def _check_invalid_overridden_method(
                 node=function_node,
             )
 
+    def _check_functools_or_not(self, decorator: nodes.Attribute) -> bool:
+        if decorator.attrname != "cached_property":
+            return False
+
+        if not isinstance(decorator.expr, nodes.Name):
+            return False
+
+        _, import_nodes = decorator.expr.lookup(decorator.expr.name)
+
+        if not import_nodes:
+            return False
+        import_node = import_nodes[0]
+
+        if not isinstance(import_node, (astroid.Import, astroid.ImportFrom)):
+            return False
+
+        return "functools" in dict(import_node.names)
+
     def _check_slots(self, node: nodes.ClassDef) -> None:
         if "__slots__" not in node.locals:
             return
diff --git a/tests/functional/m/method_hidden.py b/tests/functional/m/method_hidden.py
index ea94b3ca26..19fd60c722 100644
--- a/tests/functional/m/method_hidden.py
+++ b/tests/functional/m/method_hidden.py
@@ -2,6 +2,8 @@
 # pylint: disable=unused-private-member
 """check method hiding ancestor attribute
 """
+import functools as ft
+import something_else as functools  # pylint: disable=import-error
 
 
 class Abcd:
@@ -106,6 +108,7 @@ def default(self, o):
 class Parent:
     def __init__(self):
         self._protected = None
+        self._protected_two = None
 
 
 class Child(Parent):
@@ -113,6 +116,16 @@ def _protected(self):  # [method-hidden]
         pass
 
 
+class CachedChild(Parent):
+    @ft.cached_property
+    def _protected(self):
+        pass
+
+    @functools.cached_property
+    def _protected_two(self):
+        pass
+
+
 class ParentTwo:
     def __init__(self):
         self.__private = None
diff --git a/tests/functional/m/method_hidden.txt b/tests/functional/m/method_hidden.txt
index abce3cd407..41a3c2bb5b 100644
--- a/tests/functional/m/method_hidden.txt
+++ b/tests/functional/m/method_hidden.txt
@@ -1,3 +1,3 @@
-method-hidden:17:4:17:12:Cdef.abcd:An attribute defined in functional.m.method_hidden line 11 hides this method:UNDEFINED
-method-hidden:85:4:85:11:One.one:An attribute defined in functional.m.method_hidden line 83 hides this method:UNDEFINED
-method-hidden:112:4:112:18:Child._protected:An attribute defined in functional.m.method_hidden line 108 hides this method:UNDEFINED
+method-hidden:19:4:19:12:Cdef.abcd:An attribute defined in functional.m.method_hidden line 13 hides this method:UNDEFINED
+method-hidden:87:4:87:11:One.one:An attribute defined in functional.m.method_hidden line 85 hides this method:UNDEFINED
+method-hidden:115:4:115:18:Child._protected:An attribute defined in functional.m.method_hidden line 110 hides this method:UNDEFINED
diff --git a/tests/functional/m/method_hidden_py39.py b/tests/functional/m/method_hidden_py39.py
new file mode 100644
index 0000000000..ac087d0d6c
--- /dev/null
+++ b/tests/functional/m/method_hidden_py39.py
@@ -0,0 +1,16 @@
+# pylint: disable=too-few-public-methods,missing-docstring
+"""check method hiding ancestor attribute
+"""
+import something_else as functools  # pylint: disable=import-error
+
+
+class Parent:
+    def __init__(self):
+        self._protected = None
+
+
+class Child(Parent):
+    @functools().cached_property
+    def _protected(self):
+        # This test case is only valid for python3.9 and above
+        pass
diff --git a/tests/functional/m/method_hidden_py39.rc b/tests/functional/m/method_hidden_py39.rc
new file mode 100644
index 0000000000..15ad50f5ab
--- /dev/null
+++ b/tests/functional/m/method_hidden_py39.rc
@@ -0,0 +1,2 @@
+[testoptions]
+min_pyver = 3.9