diff --git a/mysql-test/main/create_or_replace.result b/mysql-test/main/create_or_replace.result
index 142856d603f..d9ca4102b06 100644
--- a/mysql-test/main/create_or_replace.result
+++ b/mysql-test/main/create_or_replace.result
@@ -847,3 +847,19 @@ t2	CREATE TABLE `t2` (
   `a` varchar(2300) DEFAULT NULL
 ) ENGINE=Aria DEFAULT CHARSET=latin1 PAGE_CHECKSUM=1
 drop tables t2, t1;
+#
+# MDEV-28956 Locking is broken if CREATE OR REPLACE fails under LOCK TABLES
+#
+# Atomic CREATE OR REPLACE part:
+#
+create table t1 (pk int primary key) engine=innodb;
+create or replace table t2 (a int primary key references t1 (pk)) engine=innodb;
+lock tables t1 write, t2 write;
+create or replace table t2 (c1 int not null, c1 varchar(255) ) engine=innodb;
+ERROR 42S21: Duplicate column name 'c1'
+select * from t1;
+pk
+select * from t2;
+a
+unlock tables;
+drop tables t2, t1;
diff --git a/mysql-test/main/create_or_replace.test b/mysql-test/main/create_or_replace.test
index c18c8b9eb7c..316d904e591 100644
--- a/mysql-test/main/create_or_replace.test
+++ b/mysql-test/main/create_or_replace.test
@@ -638,3 +638,20 @@ create or replace table t2 engine aria select * from t1;
 select * from t2;
 show create table t2;
 drop tables t2, t1;
+
+--echo #
+--echo # MDEV-28956 Locking is broken if CREATE OR REPLACE fails under LOCK TABLES
+--echo #
+--echo # Atomic CREATE OR REPLACE part:
+--echo #
+create table t1 (pk int primary key) engine=innodb;
+create or replace table t2 (a int primary key references t1 (pk)) engine=innodb;
+
+lock tables t1 write, t2 write;
+--error ER_DUP_FIELDNAME
+create or replace table t2 (c1 int not null, c1 varchar(255) ) engine=innodb;
+select * from t1;
+select * from t2;
+unlock tables;
+
+drop tables t2, t1;
diff --git a/mysql-test/main/create_or_replace2.result b/mysql-test/main/create_or_replace2.result
index f7bbb7417e6..dd183441e42 100644
--- a/mysql-test/main/create_or_replace2.result
+++ b/mysql-test/main/create_or_replace2.result
@@ -72,3 +72,22 @@ ERROR 42000: Duplicate key name 'k'
 create or replace table t1 (a int, b int, key k (a), key k (b));
 ERROR 42000: Duplicate key name 'k'
 drop table t1;
+#
+# MDEV-28956 Locking is broken if CREATE OR REPLACE fails under LOCK TABLES
+#
+# Non-atomic CREATE OR REPLACE part:
+#
+set @saved_debug_dbug= @@session.debug_dbug;
+set @@debug_dbug="+d,ddl_log_expensive_rename";
+create table t1 (pk int primary key) engine=innodb;
+create or replace table t2 (a int primary key references t1 (pk)) engine=innodb;
+lock tables t1 write, t2 write;
+create or replace table t2 (c1 int not null, c1 varchar(255) ) engine=innodb;
+ERROR 42S21: Duplicate column name 'c1'
+select * from t1;
+pk
+select * from t2;
+ERROR HY000: Table 't2' was not locked with LOCK TABLES
+unlock tables;
+drop tables t1;
+set @@debug_dbug= @saved_debug_dbug;
diff --git a/mysql-test/main/create_or_replace2.test b/mysql-test/main/create_or_replace2.test
index 227aff226d5..bd82d13f1d1 100644
--- a/mysql-test/main/create_or_replace2.test
+++ b/mysql-test/main/create_or_replace2.test
@@ -65,3 +65,24 @@ create or replace table t1 (a int, b int, key k (a), key k (b));
 --error ER_DUP_KEYNAME
 create or replace table t1 (a int, b int, key k (a), key k (b));
 drop table t1;
+
+--echo #
+--echo # MDEV-28956 Locking is broken if CREATE OR REPLACE fails under LOCK TABLES
+--echo #
+--echo # Non-atomic CREATE OR REPLACE part:
+--echo #
+set @saved_debug_dbug= @@session.debug_dbug;
+set @@debug_dbug="+d,ddl_log_expensive_rename";
+create table t1 (pk int primary key) engine=innodb;
+create or replace table t2 (a int primary key references t1 (pk)) engine=innodb;
+
+lock tables t1 write, t2 write;
+--error ER_DUP_FIELDNAME
+create or replace table t2 (c1 int not null, c1 varchar(255) ) engine=innodb;
+select * from t1;
+--error ER_TABLE_NOT_LOCKED
+select * from t2;
+unlock tables;
+
+drop tables t1;
+set @@debug_dbug= @saved_debug_dbug;
diff --git a/sql/handler.h b/sql/handler.h
index 1abe66448aa..d4ea7687f15 100644
--- a/sql/handler.h
+++ b/sql/handler.h
@@ -2382,7 +2382,7 @@ struct HA_CREATE_INFO: public Table_scope_and_contents_source_st,
   }
   bool finalize_atomic_replace(THD *thd, TABLE_LIST *orig_table);
   void finalize_ddl(THD *thd, bool roll_back);
-  bool finalize_locked_tables(THD *thd);
+  bool finalize_locked_tables(THD *thd, bool operation_failed);
   bool make_tmp_table_list(THD *thd, TABLE_LIST **create_table,
                            int *create_table_mode);
 };
diff --git a/sql/sql_insert.cc b/sql/sql_insert.cc
index 6fc46e5818c..163dd45f50c 100644
--- a/sql/sql_insert.cc
+++ b/sql/sql_insert.cc
@@ -5414,7 +5414,8 @@ bool select_create::send_eof()
     mysql_unlock_tables(thd, lock);
   }
   else if (atomic_replace && create_info->pos_in_locked_tables &&
-           create_info->finalize_locked_tables(thd))
+           /* send_eof() is done on success, passing false here */
+           create_info->finalize_locked_tables(thd, false))
     DBUG_RETURN(true);
 
   send_ok_packet();
@@ -5526,6 +5527,7 @@ void select_create::abort_result_set()
     thd->locked_tables_list.unlock_locked_table(thd, create_info->mdl_ticket);
   }
   else if (atomic_replace && create_info->pos_in_locked_tables)
-    (void) create_info->finalize_locked_tables(thd);
+    /* abort_result_set() is done on error, passing true here */
+    (void) create_info->finalize_locked_tables(thd, true);
   DBUG_VOID_RETURN;
 }
diff --git a/sql/sql_table.cc b/sql/sql_table.cc
index 0d76a50f4ce..5855c21bbb3 100644
--- a/sql/sql_table.cc
+++ b/sql/sql_table.cc
@@ -4509,27 +4509,47 @@ void HA_CREATE_INFO::finalize_ddl(THD *thd, bool roll_back)
 }
 
 
-bool HA_CREATE_INFO::finalize_locked_tables(THD *thd)
+/**
+  Finalize operation of LOCK TABLES mode for CREATE TABLE family of commands.
+
+  @param  operation_failed   Notify if the callee CREATE fails the operation
+  @return                    true on error, false on success
+*/
+bool HA_CREATE_INFO::finalize_locked_tables(THD *thd, bool operation_failed)
 {
   DBUG_ASSERT(pos_in_locked_tables);
   DBUG_ASSERT(thd->locked_tables_mode);
   DBUG_ASSERT(thd->variables.option_bits & OPTION_TABLE_LOCK);
-  /*
-    Add back the deleted table and re-created table as a locked table
-    This should always work as we have a meta lock on the table.
-  */
-  thd->locked_tables_list.add_back_last_deleted_lock(pos_in_locked_tables);
+  if (!operation_failed)
+  {
+    /*
+      Add back the deleted table and re-created table as a locked table
+      This should always work as we have a meta lock on the table.
+    */
+    thd->locked_tables_list.add_back_last_deleted_lock(pos_in_locked_tables);
+  }
   if (thd->locked_tables_list.reopen_tables(thd, false))
   {
     thd->locked_tables_list.unlink_all_closed_tables(thd, NULL, 0);
     return true;
   }
-  /*
-    The lock was made exclusive in create_table_impl(). We have now
-    to bring it back to it's orginal state
-  */
-  TABLE *table= pos_in_locked_tables->table;
-  table->mdl_ticket->downgrade_lock(MDL_SHARED_NO_READ_WRITE);
+  if (is_atomic_replace() || !operation_failed)
+  {
+    /*
+      The lock was made exclusive in create_table_impl(). We have now
+      to bring it back to it's orginal state.
+    */
+    TABLE *table= pos_in_locked_tables->table;
+    table->mdl_ticket->downgrade_lock(MDL_SHARED_NO_READ_WRITE);
+  }
+  else
+  {
+    /*
+       In failed non-atomic we have nothing to downgrade:
+       original table was deleted and the lock was already removed.
+    */
+    DBUG_ASSERT(!pos_in_locked_tables->table);
+  }
 
   return false;
 }
@@ -5278,7 +5298,7 @@ err:
   */
   if (thd->locked_tables_mode && pos_in_locked_tables &&
       create_info->or_replace())
-    result|= (int) create_info->finalize_locked_tables(thd);
+    result|= (int) create_info->finalize_locked_tables(thd, result);
 
   DBUG_RETURN(result);
 }
@@ -6023,7 +6043,7 @@ err:
   */
   if (thd->locked_tables_mode && pos_in_locked_tables &&
       create_info->or_replace())
-    res|= (int) local_create_info.finalize_locked_tables(thd);
+    res|= (int) local_create_info.finalize_locked_tables(thd, res);
 
   DBUG_RETURN(res != 0);
 }