diff --git a/ChangeLog b/ChangeLog
index 4ea98fedfd..14dea92439 100644
--- a/ChangeLog
+++ b/ChangeLog
@@ -16,6 +16,11 @@ Release date: TBA
 
   Refs PyCQA/pylint#2567
 
+* Treat ``typing.NewType()`` values as normal subclasses.
+
+  Closes PyCQA/pylint#2296
+  Closes PyCQA/pylint#3162
+
 What's New in astroid 2.12.13?
 ==============================
 Release date: 2022-11-19
diff --git a/astroid/brain/brain_typing.py b/astroid/brain/brain_typing.py
index b34b8bec50..f6111dc5fb 100644
--- a/astroid/brain/brain_typing.py
+++ b/astroid/brain/brain_typing.py
@@ -10,10 +10,11 @@
 from collections.abc import Iterator
 from functools import partial
 
-from astroid import context, extract_node, inference_tip
+from astroid import context, extract_node, inference_tip, nodes
 from astroid.builder import _extract_single_node
 from astroid.const import PY38_PLUS, PY39_PLUS
 from astroid.exceptions import (
+    AstroidImportError,
     AttributeInferenceError,
     InferenceError,
     UseInferenceDefault,
@@ -35,8 +36,6 @@
 from astroid.util import Uninferable
 
 TYPING_NAMEDTUPLE_BASENAMES = {"NamedTuple", "typing.NamedTuple"}
-TYPING_TYPEVARS = {"TypeVar", "NewType"}
-TYPING_TYPEVARS_QUALIFIED = {"typing.TypeVar", "typing.NewType"}
 TYPING_TYPE_TEMPLATE = """
 class Meta(type):
     def __getitem__(self, item):
@@ -49,6 +48,13 @@ def __args__(self):
 class {0}(metaclass=Meta):
     pass
 """
+# PEP484 suggests NewType is equivalent to this for typing purposes
+# https://www.python.org/dev/peps/pep-0484/#newtype-helper-function
+TYPING_NEWTYPE_TEMPLATE = """
+class {derived}({base}):
+    def __init__(self, val: {base}) -> None:
+        ...
+"""
 TYPING_MEMBERS = set(getattr(typing, "__all__", []))
 
 TYPING_ALIAS = frozenset(
@@ -103,24 +109,33 @@ def __class_getitem__(cls, item):
 """
 
 
-def looks_like_typing_typevar_or_newtype(node):
+def looks_like_typing_typevar(node: nodes.Call) -> bool:
     func = node.func
     if isinstance(func, Attribute):
-        return func.attrname in TYPING_TYPEVARS
+        return func.attrname == "TypeVar"
     if isinstance(func, Name):
-        return func.name in TYPING_TYPEVARS
+        return func.name == "TypeVar"
     return False
 
 
-def infer_typing_typevar_or_newtype(node, context_itton=None):
-    """Infer a typing.TypeVar(...) or typing.NewType(...) call"""
+def looks_like_typing_newtype(node: nodes.Call) -> bool:
+    func = node.func
+    if isinstance(func, Attribute):
+        return func.attrname == "NewType"
+    if isinstance(func, Name):
+        return func.name == "NewType"
+    return False
+
+
+def infer_typing_typevar(
+    node: nodes.Call, ctx: context.InferenceContext | None = None
+) -> Iterator[nodes.ClassDef]:
+    """Infer a typing.TypeVar(...) call"""
     try:
-        func = next(node.func.infer(context=context_itton))
+        next(node.func.infer(context=ctx))
     except (InferenceError, StopIteration) as exc:
         raise UseInferenceDefault from exc
 
-    if func.qname() not in TYPING_TYPEVARS_QUALIFIED:
-        raise UseInferenceDefault
     if not node.args:
         raise UseInferenceDefault
     # Cannot infer from a dynamic class name (f-string)
@@ -129,7 +144,135 @@ def infer_typing_typevar_or_newtype(node, context_itton=None):
 
     typename = node.args[0].as_string().strip("'")
     node = extract_node(TYPING_TYPE_TEMPLATE.format(typename))
-    return node.infer(context=context_itton)
+    return node.infer(context=ctx)
+
+
+def infer_typing_newtype(
+    node: nodes.Call, ctx: context.InferenceContext | None = None
+) -> Iterator[nodes.ClassDef]:
+    """Infer a typing.NewType(...) call"""
+    try:
+        next(node.func.infer(context=ctx))
+    except (InferenceError, StopIteration) as exc:
+        raise UseInferenceDefault from exc
+
+    if len(node.args) != 2:
+        raise UseInferenceDefault
+
+    # Cannot infer from a dynamic class name (f-string)
+    if isinstance(node.args[0], JoinedStr) or isinstance(node.args[1], JoinedStr):
+        raise UseInferenceDefault
+
+    derived, base = node.args
+    derived_name = derived.as_string().strip("'")
+    base_name = base.as_string().strip("'")
+
+    new_node: ClassDef = extract_node(
+        TYPING_NEWTYPE_TEMPLATE.format(derived=derived_name, base=base_name)
+    )
+    new_node.parent = node.parent
+
+    new_bases: list[NodeNG] = []
+
+    if not isinstance(base, nodes.Const):
+        # Base type arg is a normal reference, so no need to do special lookups
+        new_bases = [base]
+    elif isinstance(base, nodes.Const) and isinstance(base.value, str):
+        # If the base type is given as a string (e.g. for a forward reference),
+        # make a naive attempt to find the corresponding node.
+        _, resolved_base = node.frame().lookup(base_name)
+        if resolved_base:
+            base_node = resolved_base[0]
+
+            # If the value is from an "import from" statement, follow the import chain
+            if isinstance(base_node, nodes.ImportFrom):
+                ctx = ctx.clone() if ctx else context.InferenceContext()
+                ctx.lookupname = base_name
+                base_node = next(base_node.infer(context=ctx))
+
+            new_bases = [base_node]
+        elif "." in base.value:
+            possible_base = _try_find_imported_object_from_str(node, base.value, ctx)
+            if possible_base:
+                new_bases = [possible_base]
+
+    if new_bases:
+        new_node.postinit(
+            bases=new_bases, body=new_node.body, decorators=new_node.decorators
+        )
+
+    return new_node.infer(context=ctx)
+
+
+def _try_find_imported_object_from_str(
+    node: nodes.Call,
+    name: str,
+    ctx: context.InferenceContext | None,
+) -> nodes.NodeNG | None:
+    for statement_mod_name, _ in _possible_module_object_splits(name):
+        # Find import statements that may pull in the appropriate modules
+        # The name used to find this statement may not correspond to the name of the module actually being imported
+        # For example, "import email.charset" is found by lookup("email")
+        _, resolved_bases = node.frame().lookup(statement_mod_name)
+        if not resolved_bases:
+            continue
+
+        resolved_base = resolved_bases[0]
+        if isinstance(resolved_base, nodes.Import):
+            # Extract the names of the module as they are accessed from actual code
+            scope_names = {(alias or name) for (name, alias) in resolved_base.names}
+            aliases = {alias: name for (name, alias) in resolved_base.names if alias}
+
+            # Find potential mod_name, obj_name splits that work with the available names
+            # for the module in this scope
+            import_targets = [
+                (mod_name, obj_name)
+                for (mod_name, obj_name) in _possible_module_object_splits(name)
+                if mod_name in scope_names
+            ]
+            if not import_targets:
+                continue
+
+            import_target, name_in_mod = import_targets[0]
+            import_target = aliases.get(import_target, import_target)
+
+            # Try to import the module and find the object in it
+            try:
+                resolved_mod: nodes.Module = resolved_base.do_import_module(
+                    import_target
+                )
+            except AstroidImportError:
+                # If the module doesn't actually exist, try the next option
+                continue
+
+            # Try to find the appropriate ClassDef or other such node in the target module
+            _, object_results_in_mod = resolved_mod.lookup(name_in_mod)
+            if not object_results_in_mod:
+                continue
+
+            base_node = object_results_in_mod[0]
+
+            # If the value is from an "import from" statement, follow the import chain
+            if isinstance(base_node, nodes.ImportFrom):
+                ctx = ctx.clone() if ctx else context.InferenceContext()
+                ctx.lookupname = name_in_mod
+                base_node = next(base_node.infer(context=ctx))
+
+            return base_node
+
+    return None
+
+
+def _possible_module_object_splits(
+    dot_str: str,
+) -> Iterator[tuple[str, str]]:
+    components = dot_str.split(".")
+    popped = []
+
+    while components:
+        popped.append(components.pop())
+
+        yield ".".join(components), ".".join(reversed(popped))
 
 
 def _looks_like_typing_subscript(node):
@@ -404,8 +547,13 @@ def infer_typing_cast(
 
 AstroidManager().register_transform(
     Call,
-    inference_tip(infer_typing_typevar_or_newtype),
-    looks_like_typing_typevar_or_newtype,
+    inference_tip(infer_typing_typevar),
+    looks_like_typing_typevar,
+)
+AstroidManager().register_transform(
+    Call,
+    inference_tip(infer_typing_newtype),
+    looks_like_typing_newtype,
 )
 AstroidManager().register_transform(
     Subscript, inference_tip(infer_typing_attr), _looks_like_typing_subscript
diff --git a/tests/unittest_brain.py b/tests/unittest_brain.py
index 3789c3bf41..8466076966 100644
--- a/tests/unittest_brain.py
+++ b/tests/unittest_brain.py
@@ -1718,6 +1718,26 @@ def test_typing_types(self) -> None:
             inferred = next(node.infer())
             self.assertIsInstance(inferred, nodes.ClassDef, node.as_string())
 
+    def test_typing_typevar_bad_args(self) -> None:
+        ast_nodes = builder.extract_node(
+            """
+        from typing import TypeVar
+
+        T = TypeVar()
+        T #@
+
+        U = TypeVar(f"U")
+        U #@
+        """
+        )
+        assert isinstance(ast_nodes, list)
+
+        no_args_node = ast_nodes[0]
+        assert list(no_args_node.infer()) == [util.Uninferable]
+
+        fstr_node = ast_nodes[1]
+        assert list(fstr_node.infer()) == [util.Uninferable]
+
     def test_typing_type_without_tip(self):
         """Regression test for https://github.com/PyCQA/pylint/issues/5770"""
         node = builder.extract_node(
@@ -1729,7 +1749,337 @@ def make_new_type(t):
         """
         )
         with self.assertRaises(UseInferenceDefault):
-            astroid.brain.brain_typing.infer_typing_typevar_or_newtype(node.value)
+            astroid.brain.brain_typing.infer_typing_newtype(node.value)
+
+    def test_typing_newtype_attrs(self) -> None:
+        ast_nodes = builder.extract_node(
+            """
+        from typing import NewType
+        import decimal
+        from decimal import Decimal
+
+        NewType("Foo", str) #@
+        NewType("Bar", "int") #@
+        NewType("Baz", Decimal) #@
+        NewType("Qux", decimal.Decimal) #@
+        """
+        )
+        assert isinstance(ast_nodes, list)
+
+        # Base type given by reference
+        foo_node = ast_nodes[0]
+
+        # Should be unambiguous
+        foo_inferred_all = list(foo_node.infer())
+        assert len(foo_inferred_all) == 1
+
+        foo_inferred = foo_inferred_all[0]
+        assert isinstance(foo_inferred, astroid.ClassDef)
+
+        # Check base type method is inferred by accessing one of its methods
+        foo_base_class_method = foo_inferred.getattr("endswith")[0]
+        assert isinstance(foo_base_class_method, astroid.FunctionDef)
+        assert foo_base_class_method.qname() == "builtins.str.endswith"
+
+        # Base type given by string (i.e. "int")
+        bar_node = ast_nodes[1]
+        bar_inferred_all = list(bar_node.infer())
+        assert len(bar_inferred_all) == 1
+        bar_inferred = bar_inferred_all[0]
+        assert isinstance(bar_inferred, astroid.ClassDef)
+
+        bar_base_class_method = bar_inferred.getattr("bit_length")[0]
+        assert isinstance(bar_base_class_method, astroid.FunctionDef)
+        assert bar_base_class_method.qname() == "builtins.int.bit_length"
+
+        # Decimal may be reexported from an implementation-defined module. For
+        # example, in CPython 3.10 this is _decimal, but in PyPy 7.3 it's
+        # _pydecimal. So the expected qname needs to be grabbed dynamically.
+        decimal_quant_node = builder.extract_node(
+            """
+        from decimal import Decimal
+        Decimal.quantize #@
+        """
+        )
+        assert isinstance(decimal_quant_node, nodes.NodeNG)
+
+        # Just grab the first result, since infer() may return values for both
+        # _decimal and _pydecimal
+        decimal_quant_qname = next(decimal_quant_node.infer()).qname()
+
+        # Base type is from an "import from"
+        baz_node = ast_nodes[2]
+        baz_inferred_all = list(baz_node.infer())
+        assert len(baz_inferred_all) == 1
+        baz_inferred = baz_inferred_all[0]
+        assert isinstance(baz_inferred, astroid.ClassDef)
+
+        baz_base_class_method = baz_inferred.getattr("quantize")[0]
+        assert isinstance(baz_base_class_method, astroid.FunctionDef)
+        assert decimal_quant_qname == baz_base_class_method.qname()
+
+        # Base type is from an import
+        qux_node = ast_nodes[3]
+        qux_inferred_all = list(qux_node.infer())
+        qux_inferred = qux_inferred_all[0]
+        assert isinstance(qux_inferred, astroid.ClassDef)
+
+        qux_base_class_method = qux_inferred.getattr("quantize")[0]
+        assert isinstance(qux_base_class_method, astroid.FunctionDef)
+        assert decimal_quant_qname == qux_base_class_method.qname()
+
+    def test_typing_newtype_bad_args(self) -> None:
+        ast_nodes = builder.extract_node(
+            """
+        from typing import NewType
+
+        NoArgs = NewType()
+        NoArgs #@
+
+        OneArg = NewType("OneArg")
+        OneArg #@
+
+        ThreeArgs = NewType("ThreeArgs", int, str)
+        ThreeArgs #@
+
+        DynamicArg = NewType(f"DynamicArg", int)
+        DynamicArg #@
+
+        DynamicBase = NewType("DynamicBase", f"int")
+        DynamicBase #@
+        """
+        )
+        assert isinstance(ast_nodes, list)
+
+        node: nodes.NodeNG
+        for node in ast_nodes:
+            assert list(node.infer()) == [util.Uninferable]
+
+    def test_typing_newtype_user_defined(self) -> None:
+        ast_nodes = builder.extract_node(
+            """
+        from typing import NewType
+
+        class A:
+            def __init__(self, value: int):
+                self.value = value
+
+        a = A(5)
+        a #@
+
+        B = NewType("B", A)
+        b = B(5)
+        b #@
+        """
+        )
+        assert isinstance(ast_nodes, list)
+
+        for node in ast_nodes:
+            self._verify_node_has_expected_attr(node)
+
+    def test_typing_newtype_forward_reference(self) -> None:
+        # Similar to the test above, but using a forward reference for "A"
+        ast_nodes = builder.extract_node(
+            """
+        from typing import NewType
+
+        B = NewType("B", "A")
+
+        class A:
+            def __init__(self, value: int):
+                self.value = value
+
+        a = A(5)
+        a #@
+
+        b = B(5)
+        b #@
+        """
+        )
+        assert isinstance(ast_nodes, list)
+
+        for node in ast_nodes:
+            self._verify_node_has_expected_attr(node)
+
+    def _verify_node_has_expected_attr(self, node: nodes.NodeNG) -> None:
+        inferred_all = list(node.infer())
+        assert len(inferred_all) == 1
+        inferred = inferred_all[0]
+        assert isinstance(inferred, astroid.Instance)
+
+        # Should be able to infer that the "value" attr is present on both types
+        val = inferred.getattr("value")[0]
+        assert isinstance(val, astroid.AssignAttr)
+
+        # Sanity check: nonexistent attr is not inferred
+        with self.assertRaises(AttributeInferenceError):
+            inferred.getattr("bad_attr")
+
+    def test_typing_newtype_forward_reference_imported(self) -> None:
+        all_ast_nodes = builder.extract_node(
+            """
+        from typing import NewType
+
+        A = NewType("A", "decimal.Decimal")
+        B = NewType("B", "decimal_mod_alias.Decimal")
+        C = NewType("C", "Decimal")
+        D = NewType("D", "DecimalAlias")
+
+        import decimal
+        import decimal as decimal_mod_alias
+        from decimal import Decimal
+        from decimal import Decimal as DecimalAlias
+
+        Decimal #@
+
+        a = A(decimal.Decimal(2))
+        a #@
+        b = B(decimal_mod_alias.Decimal(2))
+        b #@
+        c = C(Decimal(2))
+        c #@
+        d = D(DecimalAlias(2))
+        d #@
+        """
+        )
+        assert isinstance(all_ast_nodes, list)
+
+        real_dec, *ast_nodes = all_ast_nodes
+
+        real_quantize = next(real_dec.infer()).getattr("quantize")
+
+        for node in ast_nodes:
+            all_inferred = list(node.infer())
+            assert len(all_inferred) == 1
+            inferred = all_inferred[0]
+            assert isinstance(inferred, astroid.Instance)
+
+            assert inferred.getattr("quantize") == real_quantize
+
+    def test_typing_newtype_forward_ref_bad_base(self) -> None:
+        ast_nodes = builder.extract_node(
+            """
+        from typing import NewType
+
+        A = NewType("A", "DoesntExist")
+
+        a = A()
+        a #@
+
+        # Valid name, but not actually imported
+        B = NewType("B", "decimal.Decimal")
+
+        b = B()
+        b #@
+
+        # AST works out, but can't import the module
+        import not_a_real_module
+
+        C = NewType("C", "not_a_real_module.SomeClass")
+        c = C()
+        c #@
+
+        # Real module, fake base class name
+        import email.charset
+
+        D = NewType("D", "email.charset.BadClassRef")
+        d = D()
+        d #@
+
+        # Real module, but aliased differently than used
+        import email.header as header_mod
+
+        E = NewType("E", "email.header.Header")
+        e = E(header_mod.Header())
+        e #@
+        """
+        )
+        assert isinstance(ast_nodes, list)
+
+        for ast_node in ast_nodes:
+            inferred = next(ast_node.infer())
+
+            with self.assertRaises(astroid.AttributeInferenceError):
+                inferred.getattr("value")
+
+    def test_typing_newtype_forward_ref_nested_module(self) -> None:
+        ast_nodes = builder.extract_node(
+            """
+        from typing import NewType
+
+        A = NewType("A", "email.charset.Charset")
+        B = NewType("B", "charset.Charset")
+
+        # header is unused in both cases, but verifies that module name is properly checked
+        import email.header, email.charset
+        from email import header, charset
+
+        real = charset.Charset()
+        real #@
+
+        a = A(email.charset.Charset())
+        a #@
+
+        b = B(charset.Charset())
+        """
+        )
+        assert isinstance(ast_nodes, list)
+
+        real, *newtypes = ast_nodes
+
+        real_inferred_all = list(real.infer())
+        assert len(real_inferred_all) == 1
+        real_inferred = real_inferred_all[0]
+
+        real_method = real_inferred.getattr("get_body_encoding")
+
+        for newtype_node in newtypes:
+            newtype_inferred_all = list(newtype_node.infer())
+            assert len(newtype_inferred_all) == 1
+            newtype_inferred = newtype_inferred_all[0]
+
+            newtype_method = newtype_inferred.getattr("get_body_encoding")
+
+            assert real_method == newtype_method
+
+    def test_typing_newtype_forward_ref_nested_class(self) -> None:
+        ast_nodes = builder.extract_node(
+            """
+        from typing import NewType
+
+        A = NewType("A", "SomeClass.Nested")
+
+        class SomeClass:
+            class Nested:
+                def method(self) -> None:
+                    pass
+
+        real = SomeClass.Nested()
+        real #@
+
+        a = A(SomeClass.Nested())
+        a #@
+        """
+        )
+        assert isinstance(ast_nodes, list)
+
+        real, newtype = ast_nodes
+
+        real_all_inferred = list(real.infer())
+        assert len(real_all_inferred) == 1
+        real_inferred = real_all_inferred[0]
+        real_method = real_inferred.getattr("method")
+
+        newtype_all_inferred = list(newtype.infer())
+        assert len(newtype_all_inferred) == 1
+        newtype_inferred = newtype_all_inferred[0]
+
+        # This could theoretically work, but for now just here to check that
+        # the "forward-declared module" inference doesn't totally break things
+        with self.assertRaises(astroid.AttributeInferenceError):
+            newtype_method = newtype_inferred.getattr("method")
+
+            assert real_method == newtype_method
 
     def test_namedtuple_nested_class(self):
         result = builder.extract_node(