diff --git a/CHANGES b/CHANGES
index f0d75a45ce..a5e4f526ef 100644
--- a/CHANGES
+++ b/CHANGES
@@ -1,3 +1,4 @@
+    * Adds capability for cluster mode to await free connection instead of raising.
     * Move doctests (doc code examples) to main branch
     * Update `ResponseT` type hint
     * Allow to control the minimum SSL version
diff --git a/redis/asyncio/cluster.py b/redis/asyncio/cluster.py
index 40b2948a7f..7af155436f 100644
--- a/redis/asyncio/cluster.py
+++ b/redis/asyncio/cluster.py
@@ -1,5 +1,4 @@
 import asyncio
-import collections
 import random
 import socket
 import ssl
@@ -7,7 +6,6 @@
 from typing import (
     Any,
     Callable,
-    Deque,
     Dict,
     Generator,
     List,
@@ -65,9 +63,9 @@
     RedisClusterException,
     ResponseError,
     SlotNotCoveredError,
-    TimeoutError,
-    TryAgainError,
 )
+from redis.exceptions import TimeoutError as RedisTimeoutError
+from redis.exceptions import TryAgainError
 from redis.typing import AnyKeyT, EncodableT, KeyT
 from redis.utils import (
     deprecated_function,
@@ -264,6 +262,7 @@ def __init__(
         socket_timeout: Optional[float] = None,
         retry: Optional["Retry"] = None,
         retry_on_error: Optional[List[Type[Exception]]] = None,
+        wait_for_connections: bool = False,
         # SSL related kwargs
         ssl: bool = False,
         ssl_ca_certs: Optional[str] = None,
@@ -326,6 +325,7 @@ def __init__(
             "socket_timeout": socket_timeout,
             "retry": retry,
             "protocol": protocol,
+            "wait_for_connections": wait_for_connections,
             # Client cache related kwargs
             "cache_enabled": cache_enabled,
             "client_cache": client_cache,
@@ -364,7 +364,7 @@ def __init__(
             )
             if not retry_on_error:
                 # Default errors for retrying
-                retry_on_error = [ConnectionError, TimeoutError]
+                retry_on_error = [ConnectionError, RedisTimeoutError]
             self.retry.update_supported_errors(retry_on_error)
             kwargs.update({"retry": self.retry})
 
@@ -800,7 +800,7 @@ async def _execute_command(
                 return await target_node.execute_command(*args, **kwargs)
             except (BusyLoadingError, MaxConnectionsError):
                 raise
-            except (ConnectionError, TimeoutError):
+            except (ConnectionError, RedisTimeoutError):
                 # Connection retries are being handled in the node's
                 # Retry object.
                 # Remove the failed node from the startup nodes before we try
@@ -962,6 +962,7 @@ class ClusterNode:
     __slots__ = (
         "_connections",
         "_free",
+        "acquire_connection_timeout",
         "connection_class",
         "connection_kwargs",
         "host",
@@ -970,6 +971,7 @@ class ClusterNode:
         "port",
         "response_callbacks",
         "server_type",
+        "wait_for_connections",
     )
 
     def __init__(
@@ -980,6 +982,7 @@ def __init__(
         *,
         max_connections: int = 2**31,
         connection_class: Type[Connection] = Connection,
+        wait_for_connections: bool = False,
         **connection_kwargs: Any,
     ) -> None:
         if host == "localhost":
@@ -996,9 +999,11 @@ def __init__(
         self.connection_class = connection_class
         self.connection_kwargs = connection_kwargs
         self.response_callbacks = connection_kwargs.pop("response_callbacks", {})
+        self.acquire_connection_timeout = connection_kwargs.get("socket_timeout", 30)
 
         self._connections: List[Connection] = []
-        self._free: Deque[Connection] = collections.deque(maxlen=self.max_connections)
+        self._free: asyncio.Queue[Connection] = asyncio.Queue()
+        self.wait_for_connections = wait_for_connections
 
     def __repr__(self) -> str:
         return (
@@ -1039,14 +1044,24 @@ async def disconnect(self) -> None:
         if exc:
             raise exc
 
-    def acquire_connection(self) -> Connection:
+    async def acquire_connection(self) -> Connection:
         try:
-            return self._free.popleft()
-        except IndexError:
+            return self._free.get_nowait()
+        except asyncio.QueueEmpty:
             if len(self._connections) < self.max_connections:
                 connection = self.connection_class(**self.connection_kwargs)
                 self._connections.append(connection)
                 return connection
+            elif self.wait_for_connections:
+                try:
+                    connection = await asyncio.wait_for(
+                        self._free.get(), self.acquire_connection_timeout
+                    )
+                    return connection
+                except TimeoutError:
+                    raise RedisTimeoutError(
+                        "Timeout reached waiting for a free connection"
+                    )
 
             raise MaxConnectionsError()
 
@@ -1075,12 +1090,12 @@ async def parse_response(
 
     async def execute_command(self, *args: Any, **kwargs: Any) -> Any:
         # Acquire connection
-        connection = self.acquire_connection()
+        connection = await self.acquire_connection()
         keys = kwargs.pop("keys", None)
 
         response_from_cache = await connection._get_from_local_cache(args)
         if response_from_cache is not None:
-            self._free.append(connection)
+            await self._free.put(connection)
             return response_from_cache
         else:
             # Execute command
@@ -1094,11 +1109,11 @@ async def execute_command(self, *args: Any, **kwargs: Any) -> Any:
                 return response
             finally:
                 # Release connection
-                self._free.append(connection)
+                await self._free.put(connection)
 
     async def execute_pipeline(self, commands: List["PipelineCommand"]) -> bool:
         # Acquire connection
-        connection = self.acquire_connection()
+        connection = await self.acquire_connection()
 
         # Execute command
         await connection.send_packed_command(
@@ -1117,7 +1132,7 @@ async def execute_pipeline(self, commands: List["PipelineCommand"]) -> bool:
                 ret = True
 
         # Release connection
-        self._free.append(connection)
+        await self._free.put(connection)
 
         return ret
 
diff --git a/tests/test_asyncio/test_cluster.py b/tests/test_asyncio/test_cluster.py
index c16272bb5b..3889e60542 100644
--- a/tests/test_asyncio/test_cluster.py
+++ b/tests/test_asyncio/test_cluster.py
@@ -464,6 +464,28 @@ async def read_response_mocked(*args: Any, **kwargs: Any) -> None:
 
         await rc.aclose()
 
+    async def test_max_connections_waited(
+        self, create_redis: Callable[..., RedisCluster]
+    ) -> None:
+        rc = await create_redis(
+            cls=RedisCluster, max_connections=10, wait_for_connections=True
+        )
+        for node in rc.get_nodes():
+            assert node.max_connections == 10
+
+        with mock.patch.object(Connection, "read_response") as read_response:
+
+            async def read_response_mocked(*args: Any, **kwargs: Any) -> None:
+                await asyncio.sleep(1)
+
+            read_response.side_effect = read_response_mocked
+
+            await asyncio.gather(
+                *(rc.ping(target_nodes=RedisCluster.DEFAULT_NODE) for _ in range(20))
+            )
+        assert len(rc.get_default_node()._connections) == 10
+        await rc.aclose()
+
     async def test_execute_command_errors(self, r: RedisCluster) -> None:
         """
         Test that if no key is provided then exception should be raised.