diff --git a/python/ray/_raylet.pxd b/python/ray/_raylet.pxd
index 98b445fc3abb..d87de681a360 100644
--- a/python/ray/_raylet.pxd
+++ b/python/ray/_raylet.pxd
@@ -72,6 +72,7 @@ cdef extern from "Python.h":
     ctypedef struct CPyThreadState "PyThreadState":
         int recursion_limit
         int recursion_remaining
+        int c_recursion_remaining
 
     # From Include/ceveal.h#67
     int Py_GetRecursionLimit()
diff --git a/python/ray/_raylet.pyx b/python/ray/_raylet.pyx
index b63cd91c0526..c40feb4f4f58 100644
--- a/python/ray/_raylet.pyx
+++ b/python/ray/_raylet.pyx
@@ -679,29 +679,63 @@ def compute_task_id(ObjectRef object_ref):
 
 
 cdef increase_recursion_limit():
-    """Double the recusion limit if current depth is close to the limit"""
+    """
+    Ray does some weird things with asio fibers and asyncio to run asyncio actors.
+    This results in the Python interpreter thinking there's a lot of recursion depth,
+    so we need to increase the limit when we start getting close.
+
+    0x30C0000 is Python 3.12
+        On 3.12, when recursion depth increases, c_recursion_remaining will decrease,
+        and that's what's actually compared to raise a RecursionError. So increasing
+        it by 1000 when it drops below 1000 will keep us from raising the RecursionError.
+        https://github.com/python/cpython/blob/bfb9e2f4a4e690099ec2ec53c08b90f4d64fde36/Python/pystate.c#L1353
+    0x30B00A4 is Python 3.11
+        On 3.11, the recursion depth can be calculated with recursion_limit - recursion_remaining.
+        We can get the current limit with Py_GetRecursionLimit and set it with Py_SetRecursionLimit.
+        We'll double the limit when there's less than 500 remaining.
+    On older versions
+        There's simply a recursion_depth variable and we'll increase the max the same
+        way we do for 3.11.
+    """
     cdef:
-        CPyThreadState * s = <CPyThreadState *> PyThreadState_Get()
-        int current_limit = Py_GetRecursionLimit()
-        int new_limit = current_limit * 2
         cdef extern from *:
             """
 #if PY_VERSION_HEX >= 0x30C0000
-    #define CURRENT_DEPTH(x) ((x)->py_recursion_limit - (x)->py_recursion_remaining)
+    bool IncreaseRecursionLimitIfNeeded(PyThreadState *x) {
+        if (x->c_recursion_remaining < 1000) {
+            x->c_recursion_remaining += 1000;
+            return true;
+        }
+        return false;
+    }
 #elif PY_VERSION_HEX >= 0x30B00A4
-    #define CURRENT_DEPTH(x)  ((x)->recursion_limit - (x)->recursion_remaining)
+    bool IncreaseRecursionLimitIfNeeded(PyThreadState *x) {
+        int current_limit = Py_GetRecursionLimit();
+        int current_depth = x->recursion_limit - x->recursion_remaining;
+        if (current_limit - current_depth < 500) {
+            Py_SetRecursionLimit(current_limit * 2);
+            return true;
+        }
+        return false;
+    }
 #else
-    #define CURRENT_DEPTH(x)  ((x)->recursion_depth)
+    bool IncreaseRecursionLimitIfNeeded(PyThreadState *x) {
+        int current_limit = Py_GetRecursionLimit();
+        if (current_limit - x->recursion_depth < 500) {
+            Py_SetRecursionLimit(current_limit * 2);
+            return true;
+        }
+        return false;
+    }
 #endif
             """
-            int CURRENT_DEPTH(CPyThreadState *x)
-
-        int current_depth = CURRENT_DEPTH(s)
-    if current_limit - current_depth < 500:
-        Py_SetRecursionLimit(new_limit)
-        logger.debug("Increasing Python recursion limit to {} "
-                     "current recursion depth is {}.".format(
-                         new_limit, current_depth))
+            c_bool IncreaseRecursionLimitIfNeeded(CPyThreadState *x)
+
+        CPyThreadState * s = <CPyThreadState *> PyThreadState_Get()
+        c_bool increased_recursion_limit = IncreaseRecursionLimitIfNeeded(s)
+
+    if increased_recursion_limit:
+        logger.debug("Increased Python recursion limit")
 
 
 cdef CObjectLocationPtrToDict(CObjectLocation* c_object_location):