diff --git a/python/src/com/jetbrains/python/codeInsight/intentions/PyQuotedStringIntention.java b/python/src/com/jetbrains/python/codeInsight/intentions/PyQuotedStringIntention.java
index 56f6fb530ebf..9e82f66286f7 100644
--- a/python/src/com/jetbrains/python/codeInsight/intentions/PyQuotedStringIntention.java
+++ b/python/src/com/jetbrains/python/codeInsight/intentions/PyQuotedStringIntention.java
@@ -89,7 +89,7 @@ public class PyQuotedStringIntention extends BaseIntentionAction {
       else if (ch == '\'') {
         stringBuilder.append("\\\'");
       }
-      else if (ch == '\\' && charArr[i+1] == '\"') {
+      else if (ch == '\\' && charArr[i+1] == '\"' && !(i+2 == charArr.length)) {
         skipNext = true;
         stringBuilder.append(charArr[i+1]);
       }
@@ -119,7 +119,7 @@ public class PyQuotedStringIntention extends BaseIntentionAction {
       else if (ch == '"') {
         stringBuilder.append("\\\"");
       }
-      else if (ch == '\\' && charArr[i+1] == '\'') {
+      else if (ch == '\\' && charArr[i+1] == '\'' && !(i+2 == charArr.length)) {
         skipNext = true;
         stringBuilder.append(charArr[i+1]);
       }
diff --git a/python/testData/intentions/afterQuotedStringDoubleSlash.py b/python/testData/intentions/afterQuotedStringDoubleSlash.py
new file mode 100644
index 000000000000..64799d5c6f6b
--- /dev/null
+++ b/python/testData/intentions/afterQuotedStringDoubleSlash.py
@@ -0,0 +1 @@
+data_path = dirname(realpath(__file__)).replace("\\", '/')
\ No newline at end of file
diff --git a/python/testData/intentions/beforeQuotedStringDoubleSlash.py b/python/testData/intentions/beforeQuotedStringDoubleSlash.py
new file mode 100644
index 000000000000..b6bc075cbb51
--- /dev/null
+++ b/python/testData/intentions/beforeQuotedStringDoubleSlash.py
@@ -0,0 +1 @@
+data_path = dirname(realpath(__file__)).replace('\<caret>\', '/')
\ No newline at end of file
diff --git a/python/testSrc/com/jetbrains/python/PyIntentionTest.java b/python/testSrc/com/jetbrains/python/PyIntentionTest.java
index 30a6fcd00d42..6a21242632eb 100644
--- a/python/testSrc/com/jetbrains/python/PyIntentionTest.java
+++ b/python/testSrc/com/jetbrains/python/PyIntentionTest.java
@@ -149,6 +149,10 @@ public class PyIntentionTest extends PyLightFixtureTestCase {
     doTest(PyBundle.message("INTN.quoted.string.double.to.single"));
   }
 
+  public void testQuotedStringDoubleSlash() {      //PY-3295
+    doTest(PyBundle.message("INTN.quoted.string.single.to.double"));
+  }
+
   public void testEscapedQuotedString() { //PY-2656
     doTest(PyBundle.message("INTN.quoted.string.single.to.double"));
   }