diff --git a/newsfragments/5367.bugfix.rst b/newsfragments/5367.bugfix.rst
new file mode 100644
index 0000000000..b4242d7ed9
--- /dev/null
+++ b/newsfragments/5367.bugfix.rst
@@ -0,0 +1 @@
+Fixed a regression introduced in v84.2.0 that produced unimportable PyPy extension modules on Windows when ``py_limited_api=True`` by preserving PyPy's ABI-tagged extension suffix.
diff --git a/setuptools/command/build_ext.py b/setuptools/command/build_ext.py
index 0f797c270b..2d37390966 100644
--- a/setuptools/command/build_ext.py
+++ b/setuptools/command/build_ext.py
@@ -80,7 +80,8 @@ def get_abi3_suffix():
     suffix = get_config_var('EXT_SUFFIX')
     if not isinstance(suffix, str) or get_config_var('HAVE_DYNAMIC_LOADING') == 0:
         return None
-    if suffix.endswith('.pyd') and not suffix.startswith('_d'):
+    # PyPy also uses .pyd on Windows, but does not support CPython's stable ABI.
+    if suffix == '.pyd' or (suffix.startswith('.cp') and suffix.endswith('.pyd')):
         return '.pyd'
     if not suffix.startswith('.cpython-'):
         return None
diff --git a/setuptools/tests/test_build_ext.py b/setuptools/tests/test_build_ext.py
index a537e1b9a9..6a976a0ba9 100644
--- a/setuptools/tests/test_build_ext.py
+++ b/setuptools/tests/test_build_ext.py
@@ -63,7 +63,8 @@
         ({'EXT_SUFFIX': '_d.cp315-win_amd64.pyd'}, None),
         ({'EXT_SUFFIX': '_d.pyd'}, None),
         ({'EXT_SUFFIX': '.pypy310-pp73-x86_64-linux-gnu.so'}, None),
-        ({'EXT_SUFFIX': '.pypy310-pp73-win_amd64.pyd'}, '.pyd'),
+        ({'EXT_SUFFIX': '.pypy310-pp73-win_amd64.pyd'}, None),
+        ({'EXT_SUFFIX': '.pypy311-pp80-win_amd64.pyd'}, None),
         ({'EXT_SUFFIX': '.dll'}, None),
         (
             {'EXT_SUFFIX': '.cpython-312-x86_64-cygwin.dll', 'MACHDEP': 'cygwin'},
@@ -155,6 +156,27 @@ def test_abi3_filename_cross(self, monkeypatch, abi_flags):
             'spam', 'normal' + suffix
         )
 
+    @pytest.mark.parametrize(
+        'suffix',
+        [
+            '.pypy310-pp73-win_amd64.pyd',
+            '.pypy311-pp80-win_amd64.pyd',
+            '.pypy310-pp73-x86_64-linux-gnu.so',
+            '.pypy311-pp80-x86_64-linux-gnu.so',
+        ],
+    )
+    @pytest.mark.parametrize('limited_api', [False, True])
+    def test_pypy_ignores_limited_api(self, monkeypatch, suffix, limited_api):
+        """PyPy requires its own suffix even if an extension requests limited API."""
+        monkeypatch.delenv('SETUPTOOLS_EXT_SUFFIX', raising=False)
+        monkeypatch.setitem(get_config_vars(), 'EXT_SUFFIX', suffix)
+        extension = Extension('spam.eggs', ['eggs.c'], py_limited_api=limited_api)
+        cmd = build_ext(Distribution(dict(ext_modules=[extension])))
+        cmd.finalize_options()
+        assert cmd.get_ext_filename('spam.eggs') == os.path.join(
+            'spam', 'eggs' + suffix
+        )
+
     def test_ext_suffix_override(self):
         """
         SETUPTOOLS_EXT_SUFFIX variable always overrides