diff --git a/python/psi-api/src/com/jetbrains/python/PyTokenTypes.java b/python/psi-api/src/com/jetbrains/python/PyTokenTypes.java
index 0e93006168e1..63b80160a75b 100644
--- a/python/psi-api/src/com/jetbrains/python/PyTokenTypes.java
+++ b/python/psi-api/src/com/jetbrains/python/PyTokenTypes.java
@@ -169,6 +169,7 @@ public class PyTokenTypes {
   public static final TokenSet NUMERIC_LITERALS = TokenSet.create(FLOAT_LITERAL, INTEGER_LITERAL, IMAGINARY_LITERAL);
   public static final TokenSet BOOL_LITERALS = TokenSet.create(TRUE_KEYWORD, FALSE_KEYWORD);
   public static final TokenSet SCALAR_LITERALS = TokenSet.orSet(BOOL_LITERALS, NUMERIC_LITERALS, TokenSet.create(NONE_KEYWORD));
+  public static final TokenSet EXPRESSION_KEYWORDS = TokenSet.create(TRUE_KEYWORD, FALSE_KEYWORD, NONE_KEYWORD);
 
   public static final TokenSet AUG_ASSIGN_OPERATIONS = TokenSet.create(PLUSEQ, MINUSEQ, MULTEQ, ATEQ, DIVEQ,
       PERCEQ, EXPEQ, GTGTEQ, LTLTEQ, ANDEQ, OREQ, XOREQ, FLOORDIVEQ);
diff --git a/python/src/com/jetbrains/python/validation/HighlightingAnnotator.java b/python/src/com/jetbrains/python/validation/HighlightingAnnotator.java
index 488d27ac6859..1dadf823d2ca 100644
--- a/python/src/com/jetbrains/python/validation/HighlightingAnnotator.java
+++ b/python/src/com/jetbrains/python/validation/HighlightingAnnotator.java
@@ -17,7 +17,9 @@ package com.jetbrains.python.validation;
 
 import com.intellij.lang.ASTNode;
 import com.intellij.openapi.editor.colors.TextAttributesKey;
+import com.intellij.psi.PsiElement;
 import com.intellij.psi.util.PsiTreeUtil;
+import com.jetbrains.python.PyTokenTypes;
 import com.jetbrains.python.highlighting.PyHighlighter;
 import com.jetbrains.python.psi.*;
 
@@ -78,4 +80,14 @@ public class HighlightingAnnotator extends PyAnnotator {
       addHighlightingAnnotation(value, PyHighlighter.PY_ANNOTATION);
     }
   }
+
+  @Override
+  public void visitElement(PsiElement element) {
+    // Highlight None, True and False as keywords once again inside annotations after PyHighlighter
+    // to keep their original color
+    if (PyTokenTypes.EXPRESSION_KEYWORDS.contains(element.getNode().getElementType()) &&
+        PsiTreeUtil.getParentOfType(element, PyAnnotation.class) != null) {
+      addHighlightingAnnotation(element, PyHighlighter.PY_KEYWORD);
+    }
+  }
 }
diff --git a/python/testData/highlighting/annotations.py b/python/testData/highlighting/annotations.py
index 9fa0e365b05d..b2fa48600ae5 100644
--- a/python/testData/highlighting/annotations.py
+++ b/python/testData/highlighting/annotations.py
@@ -2,5 +2,5 @@ TOP_LEVEL: <info descr="PY.ANNOTATION"><info descr="PY.BUILTIN_NAME">str</info><
 
 class <info descr="PY.CLASS_DEFINITION">C</info>:
     attr: <info descr="PY.ANNOTATION">Optional[Any]</info> = None
-    def <info descr="PY.FUNC_DEFINITION">method</info>(<info descr="PY.SELF_PARAMETER">self</info>, <info descr="PY.PARAMETER">xs</info>: <info descr="PY.ANNOTATION">List[<info descr="PY.BUILTIN_NAME">int</info>]</info>) -> <info descr="PY.ANNOTATION">None</info>:
+    def <info descr="PY.FUNC_DEFINITION">method</info>(<info descr="PY.SELF_PARAMETER">self</info>, <info descr="PY.PARAMETER">xs</info>: <info descr="PY.ANNOTATION">List[<info descr="PY.BUILTIN_NAME">int</info>]</info>) -> <info descr="PY.ANNOTATION"><info descr="PY.KEYWORD">None</info></info>:
         pass