diff --git a/Lib/asyncio/graph.py b/Lib/asyncio/graph.py
index e240c6dd77d1245..94fcd33d7088a68 100644
--- a/Lib/asyncio/graph.py
+++ b/Lib/asyncio/graph.py
@@ -274,4 +274,5 @@ def print_call_graph(
     limit: int | None = None,
 ) -> None:
     """Print the async call graph for the current task or the provided Future."""
-    print(format_call_graph(future, depth=depth, limit=limit), file=file)
+    # gh-156327: print_call_graph() must not report its own frame
+    print(format_call_graph(future, depth=depth + 1, limit=limit), file=file)
diff --git a/Lib/test/test_asyncio/test_graph.py b/Lib/test/test_asyncio/test_graph.py
index 2c5bb2e8f52e668..50d528fb9fb2c51 100644
--- a/Lib/test/test_asyncio/test_graph.py
+++ b/Lib/test/test_asyncio/test_graph.py
@@ -41,7 +41,7 @@ def walk(s):
         return ret
 
     buf = io.StringIO()
-    asyncio.print_call_graph(fut, file=buf, depth=depth+1)
+    asyncio.print_call_graph(fut, file=buf, depth=depth)
 
     stack = asyncio.capture_call_graph(fut, depth=depth)
     return walk(stack), buf.getvalue()
@@ -484,6 +484,14 @@ def test_capture_call_graph_non_future(self):
         with self.assertRaises(TypeError):
             asyncio.capture_call_graph("not a future")
 
+    async def test_print_call_graph_innermost_frame(self):
+        # gh-156327: print_call_graph() must not report its own frame
+        buf = io.StringIO()
+        lineno = sys._getframe().f_lineno + 1
+        asyncio.print_call_graph(file=buf)
+        first_frame = buf.getvalue().splitlines()[2]
+        self.assertIn(f'File {__file__!r}, line {lineno},', first_frame)
+
     async def test_call_graph_finished_task(self):
         # gh-156408: the call graph must not record a finished coroutine's None frame
         async def boom():
diff --git a/Misc/NEWS.d/next/Library/2026-08-24-22-20-55.gh-issue-156327.arC8Ph.rst b/Misc/NEWS.d/next/Library/2026-08-24-22-20-55.gh-issue-156327.arC8Ph.rst
new file mode 100644
index 000000000000000..979db7a733a3eae
--- /dev/null
+++ b/Misc/NEWS.d/next/Library/2026-08-24-22-20-55.gh-issue-156327.arC8Ph.rst
@@ -0,0 +1,2 @@
+Fix :func:`asyncio.print_call_graph` including its own frame in the printed
+call stack.