diff --git a/gdb/ChangeLog b/gdb/ChangeLog
index 8381b8e842f..9179abf15b7 100644
--- a/gdb/ChangeLog
+++ b/gdb/ChangeLog
@@ -1,3 +1,8 @@
+2017-04-27  Simon Marchi  <simon.marchi@ericsson.com>
+
+	* python/py-inferior.c (inferior_to_inferior_object): Increment reference
+	count when creating the object.
+
 2017-04-27  Sangamesh Mallayya  <sangamesh.swamy@in.ibm.com>
 	    Ulrich Weigand  <uweigand@de.ibm.com>
 
diff --git a/gdb/python/py-inferior.c b/gdb/python/py-inferior.c
index 3d2cb1ddbeb..f6a24a090f2 100644
--- a/gdb/python/py-inferior.c
+++ b/gdb/python/py-inferior.c
@@ -223,11 +223,14 @@ inferior_to_inferior_object (struct inferior *inferior)
       inf_obj->threads = NULL;
       inf_obj->nthreads = 0;
 
+      /* PyObject_New initializes the new object with a refcount of 1.  This
+	 counts for the reference we are keeping in the inferior data.  */
       set_inferior_data (inferior, infpy_inf_data_key, inf_obj);
 
     }
-  else
-    Py_INCREF ((PyObject *)inf_obj);
+
+  /* We are returning a new reference.  */
+  Py_INCREF ((PyObject *)inf_obj);
 
   return (PyObject *) inf_obj;
 }