diff --git a/mypy/expandtype.py b/mypy/expandtype.py
index 891ea4d89a80..7f95b2e25320 100644
--- a/mypy/expandtype.py
+++ b/mypy/expandtype.py
@@ -3,7 +3,7 @@
 from collections.abc import Iterable, Mapping
 from typing import Final, TypeVar, cast, overload
 
-from mypy.nodes import ARG_STAR, FakeInfo, Var
+from mypy.nodes import ARG_STAR, ArgKind, FakeInfo, Var
 from mypy.state import state
 from mypy.types import (
     ANY_STRATEGY,
@@ -270,19 +270,95 @@ def visit_param_spec(self, t: ParamSpecType) -> Type:
                 ),
             )
         elif isinstance(repl, Parameters):
-            assert t.flavor == ParamSpecFlavor.BARE
-            return Parameters(
-                self.expand_types(t.prefix.arg_types) + repl.arg_types,
-                t.prefix.arg_kinds + repl.arg_kinds,
-                t.prefix.arg_names + repl.arg_names,
-                variables=[*t.prefix.variables, *repl.variables],
-                imprecise_arg_kinds=repl.imprecise_arg_kinds,
-            )
+            assert isinstance(t.upper_bound, ProperType) and isinstance(t.upper_bound, Instance)
+            if t.flavor == ParamSpecFlavor.BARE:
+                return Parameters(
+                    self.expand_types(t.prefix.arg_types) + repl.arg_types,
+                    t.prefix.arg_kinds + repl.arg_kinds,
+                    t.prefix.arg_names + repl.arg_names,
+                    variables=[*t.prefix.variables, *repl.variables],
+                    imprecise_arg_kinds=repl.imprecise_arg_kinds,
+                )
+            elif t.flavor == ParamSpecFlavor.ARGS:
+                assert all(k.is_positional() for k in t.prefix.arg_kinds)
+                return self._possible_callable_varargs(
+                    repl, list(t.prefix.arg_types), t.upper_bound
+                )
+            else:
+                assert t.flavor == ParamSpecFlavor.KWARGS
+                return self._possible_callable_kwargs(repl, t.upper_bound)
         else:
             # We could encode Any as trivial parameters etc., but it would be too verbose.
             # TODO: assert this is a trivial type, like Any, Never, or object.
             return repl
 
+    @classmethod
+    def _possible_callable_varargs(
+        cls, repl: Parameters, required_prefix: list[Type], tuple_type: Instance
+    ) -> ProperType:
+        """Given a callable, extract all parameters that can be passed as `*args`.
+
+        This builds a union of all (possibly variadic) tuples representing all possible
+        argument sequences that can be passed positionally. Each such tuple starts with
+        all required (pos-only without a default) arguments, followed by some prefix
+        of other arguments that can be passed positionally.
+        """
+        required_posargs = required_prefix
+        if repl.variables:
+            # We will tear the callable apart, do not leak type variables
+            return tuple_type
+        optional_posargs: list[Type] = []
+        for kind, name, type in zip(repl.arg_kinds, repl.arg_names, repl.arg_types):
+            if kind == ArgKind.ARG_POS and name is None:
+                if optional_posargs:
+                    # May happen following Unpack expansion without kinds correction
+                    required_posargs += optional_posargs
+                    optional_posargs = []
+                required_posargs.append(type)
+            elif kind.is_positional():
+                optional_posargs.append(type)
+            elif kind == ArgKind.ARG_STAR:
+                if isinstance(type, UnpackType):
+                    optional_posargs.append(type)
+                else:
+                    optional_posargs.append(UnpackType(Instance(tuple_type.type, [type])))
+                break
+        return UnionType.make_union(
+            [
+                TupleType(required_posargs + optional_posargs[:i], fallback=tuple_type)
+                for i in range(len(optional_posargs) + 1)
+            ]
+        )
+
+    @classmethod
+    def _possible_callable_kwargs(cls, repl: Parameters, dict_type: Instance) -> ProperType:
+        """Given a callable, extract all parameters that can be passed as `**kwargs`.
+
+        If the function only accepts **kwargs, this will be a `dict[str, KwargsValueType]`.
+        Otherwise, this will be a `TypedDict` containing all explicit args and ignoring
+        `**kwargs` (until PEP 728 `extra_items` is supported). TypedDict entries will
+        be required iff the corresponding argument is kw-only and has no default.
+        """
+        if repl.variables:
+            # We will tear the callable apart, do not leak type variables
+            return dict_type
+        kwargs = {}
+        required_names = set()
+        extra_items: Type = UninhabitedType()
+        for kind, name, type in zip(repl.arg_kinds, repl.arg_names, repl.arg_types):
+            if kind == ArgKind.ARG_NAMED and name is not None:
+                kwargs[name] = type
+                required_names.add(name)
+            elif kind == ArgKind.ARG_STAR2:
+                # Unpack[TypedDict] is normalized early, it isn't stored as Unpack
+                extra_items = type
+            elif not kind.is_star() and name is not None:
+                kwargs[name] = type
+        if not kwargs:
+            return Instance(dict_type.type, [dict_type.args[0], extra_items])
+        # TODO: when PEP 728 is implemented, pass extra_items below.
+        return TypedDictType(kwargs, required_names, set(), fallback=dict_type)
+
     def visit_type_var_tuple(self, t: TypeVarTupleType) -> Type:
         # Sometimes solver may need to expand a type variable with (a copy of) itself
         # (usually together with other TypeVars, but it is hard to filter out TypeVarTuples).
diff --git a/test-data/unit/check-parameter-specification.test b/test-data/unit/check-parameter-specification.test
index 25a8dbe387de..41a6c5b33cb9 100644
--- a/test-data/unit/check-parameter-specification.test
+++ b/test-data/unit/check-parameter-specification.test
@@ -2599,3 +2599,160 @@ def run3(predicate: Callable[Concatenate[int, str, _P], None], *args: _P.args, *
                                            # E: Argument 1 has incompatible type "*tuple[int | str, ...]"; expected "str" \
                                            # E: Argument 1 has incompatible type "*tuple[int | str, ...]"; expected "_P.args"
 [builtins fixtures/paramspec.pyi]
+
+[case testRevealBoundParamSpecArgs]
+from typing import Callable, Generic, ParamSpec
+from typing_extensions import Concatenate, TypeVarTuple, Unpack
+
+P = ParamSpec("P")
+Ts = TypeVarTuple("Ts")
+
+class Sneaky(Generic[P]):
+    def __init__(self, fn: Callable[P, object], *args: P.args, **kwargs: P.kwargs) -> None:
+        self.fn = fn
+        self.args = args
+        self.kwargs = kwargs
+
+class SneakyPrefix(Generic[P]):
+    def __init__(self, fn: Callable[Concatenate[int, P], object], _: int, *args: P.args, **kwargs: P.kwargs) -> None:
+        self.fn = fn
+        self.args = args
+        self.kwargs = kwargs
+
+def f1() -> int:
+    return 0
+def f2(x: int) -> int:
+    return 0
+def f3(x: int, /) -> int:
+    return 0
+def f4(*, x: int) -> int:
+    return 0
+def f5(x: int, y: int = 0) -> int:
+    return 0
+def f6(x: int, *args: int) -> int:
+    return 0
+def f7(x: int, *args: Unpack[Ts]) -> int:
+    return 0
+def f8(x: int, *args: Unpack[tuple[str, ...]]) -> int:
+    return 0
+def f9(x: int, *args: Unpack[tuple[str, int]]) -> int:
+    return 0
+def f10(x: int=0, *args: Unpack[tuple[str, ...]]) -> int:
+    return 0
+def f11(x: int = 0, /) -> int:
+    return 0
+
+reveal_type(Sneaky(f1).args)  # N: Revealed type is "tuple[()]"
+reveal_type(SneakyPrefix(f1).args)  # E: Missing positional argument "_" in call to "SneakyPrefix" \
+                                    # N: Revealed type is "tuple[()]" \
+                                    # E: Argument 1 to "SneakyPrefix" has incompatible type "Callable[[], int]"; expected "Callable[[int], object]"
+
+reveal_type(Sneaky(f2, 1).args)  # N: Revealed type is "tuple[()] | tuple[builtins.int]"
+reveal_type(SneakyPrefix(f2, 1).args)  # N: Revealed type is "tuple[()]"
+
+reveal_type(Sneaky(f3, 1).args)  # N: Revealed type is "tuple[builtins.int]"
+reveal_type(SneakyPrefix(f3, 1).args)  # N: Revealed type is "tuple[()]"
+
+reveal_type(Sneaky(f4, x=1).args)  # N: Revealed type is "tuple[()]"
+
+reveal_type(Sneaky(f5, 1).args)  # N: Revealed type is "tuple[()] | tuple[builtins.int] | tuple[builtins.int, builtins.int]"
+reveal_type(SneakyPrefix(f5, 1).args)  # N: Revealed type is "tuple[()] | tuple[builtins.int]"
+reveal_type(Sneaky(f5, 1, 2).args)  # N: Revealed type is "tuple[()] | tuple[builtins.int] | tuple[builtins.int, builtins.int]"
+reveal_type(SneakyPrefix(f5, 1, 2).args)  # N: Revealed type is "tuple[()] | tuple[builtins.int]"
+
+reveal_type(Sneaky(f6, 1).args)  # N: Revealed type is "tuple[()] | tuple[builtins.int] | tuple[builtins.int, Unpack[builtins.tuple[builtins.int, ...]]]"
+reveal_type(SneakyPrefix(f6, 1).args)  # N: Revealed type is "tuple[()] | tuple[Unpack[builtins.tuple[builtins.int, ...]]]"
+reveal_type(Sneaky(f6, 1, 2).args)  # N: Revealed type is "tuple[()] | tuple[builtins.int] | tuple[builtins.int, Unpack[builtins.tuple[builtins.int, ...]]]"
+reveal_type(SneakyPrefix(f6, 1, 2).args)  # N: Revealed type is "tuple[()] | tuple[Unpack[builtins.tuple[builtins.int, ...]]]"
+
+reveal_type(Sneaky(f7, 1, 2).args)  # N: Revealed type is "tuple[Literal[1]?, Literal[2]?]"
+reveal_type(SneakyPrefix(f7, 1, 2).args)  # N: Revealed type is "tuple[Literal[2]?]"
+
+reveal_type(Sneaky(f8, 1, '').args)  # N: Revealed type is "tuple[()] | tuple[builtins.int] | tuple[builtins.int, Unpack[builtins.tuple[builtins.str, ...]]]"
+reveal_type(SneakyPrefix(f8, 1, '').args)  # N: Revealed type is "tuple[()] | tuple[Unpack[builtins.tuple[builtins.str, ...]]]"
+
+reveal_type(Sneaky(f9, 1, '', 0).args)  # N: Revealed type is "tuple[builtins.int, builtins.str, builtins.int]"
+reveal_type(SneakyPrefix(f9, 1, '', 0).args)  # N: Revealed type is "tuple[builtins.str, builtins.int]"
+
+reveal_type(Sneaky(f10, 1, '', '').args)  # N: Revealed type is "tuple[()] | tuple[builtins.int] | tuple[builtins.int, Unpack[builtins.tuple[builtins.str, ...]]]"
+reveal_type(SneakyPrefix(f10, 1, '', '').args)  # N: Revealed type is "tuple[()] | tuple[Unpack[builtins.tuple[builtins.str, ...]]]"
+
+reveal_type(Sneaky(f11).args)  # N: Revealed type is "tuple[()] | tuple[builtins.int]"
+[builtins fixtures/paramspec.pyi]
+
+[case testRevealBoundParamSpecGeneric]
+from typing import Callable, Generic, ParamSpec, TypeVar
+from typing_extensions import TypeVarTuple, Unpack
+
+T = TypeVar("T")
+P = ParamSpec("P")
+Ts = TypeVarTuple("Ts")
+
+class SplitSneaky(Generic[P]):
+    def __init__(self, target: Callable[P, None]) -> None:
+        ...
+
+    def run(self, *args: P.args, **kwargs: P.kwargs) -> None:
+        self.args = args
+        self.kwargs = kwargs
+
+def f1(x: T) -> None: ...
+def f2(*xs: Unpack[Ts]) -> None: ...
+def f3(fn: Callable[P, None]) -> None: ...
+
+reveal_type(SplitSneaky(f1).args)  # N: Revealed type is "builtins.tuple[builtins.object, ...]"
+reveal_type(SplitSneaky(f1).kwargs)  # N: Revealed type is "builtins.dict[builtins.str, builtins.object]"
+reveal_type(SplitSneaky(f2).args)  # N: Revealed type is "builtins.tuple[builtins.object, ...]"
+reveal_type(SplitSneaky(f2).kwargs)  # N: Revealed type is "builtins.dict[builtins.str, builtins.object]"
+reveal_type(SplitSneaky(f3).args)  # N: Revealed type is "builtins.tuple[builtins.object, ...]"
+reveal_type(SplitSneaky(f3).kwargs)  # N: Revealed type is "builtins.dict[builtins.str, builtins.object]"
+[builtins fixtures/paramspec.pyi]
+
+[case testRevealBoundParamSpecKwargs]
+from typing import Callable, Generic, ParamSpec
+from typing_extensions import Unpack, NotRequired, TypedDict
+
+P = ParamSpec("P")
+
+class Sneaky(Generic[P]):
+    def __init__(self, fn: Callable[P, object], *args: P.args, **kwargs: P.kwargs) -> None:
+        self.fn = fn
+        self.args = args
+        self.kwargs = kwargs
+
+class Opt(TypedDict):
+    y: int
+    z: NotRequired[str]
+
+def f1() -> int:
+    return 0
+def f2(x: int) -> int:
+    return 0
+def f3(x: int, /) -> int:
+    return 0
+def f4(*, x: int) -> int:
+    return 0
+def f5(x: int, y: int = 0) -> int:
+    return 0
+def f6(**kwargs: int) -> int:
+    return 0
+def f7(x: int, **kwargs: str) -> int:
+    return 0
+def f8(x: int, /, **kwargs: str) -> int:
+    return 0
+def f9(x: int, **kwargs: Unpack[Opt]) -> int:
+    return 0
+
+reveal_type(Sneaky(f1).kwargs)  # N: Revealed type is "builtins.dict[builtins.str, Never]"
+reveal_type(Sneaky(f2, 1).kwargs)  # N: Revealed type is "TypedDict('builtins.dict', {'x'?: builtins.int})"
+reveal_type(Sneaky(f3, 1).kwargs)  # N: Revealed type is "builtins.dict[builtins.str, Never]"
+reveal_type(Sneaky(f4, x=1).kwargs)  # N: Revealed type is "TypedDict('builtins.dict', {'x': builtins.int})"
+reveal_type(Sneaky(f5, 1).kwargs)  # N: Revealed type is "TypedDict('builtins.dict', {'x'?: builtins.int, 'y'?: builtins.int})"
+reveal_type(Sneaky(f5, 1, 2).kwargs)  # N: Revealed type is "TypedDict('builtins.dict', {'x'?: builtins.int, 'y'?: builtins.int})"
+reveal_type(Sneaky(f6, x=1).kwargs)  # N: Revealed type is "builtins.dict[builtins.str, builtins.int]"
+reveal_type(Sneaky(f6, x=1, y=2).kwargs)  # N: Revealed type is "builtins.dict[builtins.str, builtins.int]"
+reveal_type(Sneaky(f7, 1, y='').kwargs)  # N: Revealed type is "TypedDict('builtins.dict', {'x'?: builtins.int})"
+reveal_type(Sneaky(f8, 1, y='').kwargs)  # N: Revealed type is "builtins.dict[builtins.str, builtins.str]"
+reveal_type(Sneaky(f9, 1, y=0).kwargs)  # N: Revealed type is "TypedDict('builtins.dict', {'x'?: builtins.int, 'y': builtins.int, 'z'?: builtins.str})"
+reveal_type(Sneaky(f9, 1, y=0, z='').kwargs)  # N: Revealed type is "TypedDict('builtins.dict', {'x'?: builtins.int, 'y': builtins.int, 'z'?: builtins.str})"
+[builtins fixtures/paramspec.pyi]