diff --git a/Doc/c-api/code.rst b/Doc/c-api/code.rst
index a6eb86f1a0b514..9054e7ee3181a5 100644
--- a/Doc/c-api/code.rst
+++ b/Doc/c-api/code.rst
@@ -115,51 +115,3 @@ bound into a function.
    the free variables. On error, ``NULL`` is returned and an exception is raised.
 
    .. versionadded:: 3.11
-
-.. c:function:: int PyCode_AddWatcher(PyCode_WatchCallback callback)
-
-   Register *callback* as a code object watcher for the current interpreter.
-   Return an ID which may be passed to :c:func:`PyCode_ClearWatcher`.
-   In case of error (e.g. no more watcher IDs available),
-   return ``-1`` and set an exception.
-
-   .. versionadded:: 3.12
-
-.. c:function:: int PyCode_ClearWatcher(int watcher_id)
-
-   Clear watcher identified by *watcher_id* previously returned from
-   :c:func:`PyCode_AddWatcher` for the current interpreter.
-   Return ``0`` on success, or ``-1`` and set an exception on error
-   (e.g. if the given *watcher_id* was never registered.)
-
-   .. versionadded:: 3.12
-
-.. c:type:: PyCodeEvent
-
-   Enumeration of possible code object watcher events:
-   - ``PY_CODE_EVENT_CREATE``
-   - ``PY_CODE_EVENT_DESTROY``
-
-   .. versionadded:: 3.12
-
-.. c:type:: int (*PyCode_WatchCallback)(PyCodeEvent event, PyCodeObject* co)
-
-   Type of a code object watcher callback function.
-
-   If *event* is ``PY_CODE_EVENT_CREATE``, then the callback is invoked
-   after `co` has been fully initialized. Otherwise, the callback is invoked
-   before the destruction of *co* takes place, so the prior state of *co*
-   can be inspected.
-
-   Users of this API should not rely on internal runtime implementation
-   details. Such details may include, but are not limited to, the exact
-   order and timing of creation and destruction of code objects. While
-   changes in these details may result in differences observable by watchers
-   (including whether a callback is invoked or not), it does not change
-   the semantics of the Python code being executed.
-
-   If the callback returns with an exception set, it must return ``-1``; this
-   exception will be printed as an unraisable exception using
-   :c:func:`PyErr_WriteUnraisable`. Otherwise it should return ``0``.
-
-   .. versionadded:: 3.12
diff --git a/Doc/whatsnew/3.12.rst b/Doc/whatsnew/3.12.rst
index 6f5ce818d961a5..44f98b2baa6579 100644
--- a/Doc/whatsnew/3.12.rst
+++ b/Doc/whatsnew/3.12.rst
@@ -777,10 +777,6 @@ New Features
   callbacks to receive notification on changes to a type.
   (Contributed by Carl Meyer in :gh:`91051`.)
 
-* Added :c:func:`PyCode_AddWatcher` and :c:func:`PyCode_ClearWatcher`
-  APIs to register callbacks to receive notification on creation and
-  destruction of code objects.
-  (Contributed by Itamar Ostricher in :gh:`91054`.)
 
 * Add :c:func:`PyFrame_GetVar` and :c:func:`PyFrame_GetVarString` functions to
   get a frame variable by its name.
diff --git a/Include/cpython/code.h b/Include/cpython/code.h
index f11d099e0379ef..fd57e0035bc09a 100644
--- a/Include/cpython/code.h
+++ b/Include/cpython/code.h
@@ -181,41 +181,6 @@ PyAPI_FUNC(int) PyCode_Addr2Line(PyCodeObject *, int);
 
 PyAPI_FUNC(int) PyCode_Addr2Location(PyCodeObject *, int, int *, int *, int *, int *);
 
-typedef enum PyCodeEvent {
-  PY_CODE_EVENT_CREATE,
-  PY_CODE_EVENT_DESTROY
-} PyCodeEvent;
-
-
-/*
- * A callback that is invoked for different events in a code object's lifecycle.
- *
- * The callback is invoked with a borrowed reference to co, after it is
- * created and before it is destroyed.
- *
- * If the callback returns with an exception set, it must return -1. Otherwise
- * it should return 0.
- */
-typedef int (*PyCode_WatchCallback)(
-  PyCodeEvent event,
-  PyCodeObject* co);
-
-/*
- * Register a per-interpreter callback that will be invoked for code object
- * lifecycle events.
- *
- * Returns a handle that may be passed to PyCode_ClearWatcher on success,
- * or -1 and sets an error if no more handles are available.
- */
-PyAPI_FUNC(int) PyCode_AddWatcher(PyCode_WatchCallback callback);
-
-/*
- * Clear the watcher associated with the watcher_id handle.
- *
- * Returns 0 on success or -1 if no watcher exists for the provided id.
- */
-PyAPI_FUNC(int) PyCode_ClearWatcher(int watcher_id);
-
 /* for internal use only */
 struct _opaque {
     int computed_line;
diff --git a/Include/internal/pycore_code.h b/Include/internal/pycore_code.h
index 357fc85a95cf15..80c1bfb6c9afa2 100644
--- a/Include/internal/pycore_code.h
+++ b/Include/internal/pycore_code.h
@@ -4,8 +4,6 @@
 extern "C" {
 #endif
 
-#define CODE_MAX_WATCHERS 8
-
 /* PEP 659
  * Specialization and quickening structs and helper functions
  */
diff --git a/Include/internal/pycore_interp.h b/Include/internal/pycore_interp.h
index b5c46773c90fd3..857ffd06f1c980 100644
--- a/Include/internal/pycore_interp.h
+++ b/Include/internal/pycore_interp.h
@@ -191,9 +191,6 @@ struct _is {
 
     PyObject *audit_hooks;
     PyType_WatchCallback type_watchers[TYPE_MAX_WATCHERS];
-    PyCode_WatchCallback code_watchers[CODE_MAX_WATCHERS];
-    // One bit is set for each non-NULL entry in code_watchers
-    uint8_t active_code_watchers;
 
     struct _Py_unicode_state unicode;
     struct _Py_float_state float_state;
diff --git a/Lib/test/test_capi/test_watchers.py b/Lib/test/test_capi/test_watchers.py
index ebe7d2783189a3..5e4f42a86006bd 100644
--- a/Lib/test/test_capi/test_watchers.py
+++ b/Lib/test/test_capi/test_watchers.py
@@ -336,74 +336,6 @@ def test_no_more_ids_available(self):
                 self.add_watcher()
 
 
-class TestCodeObjectWatchers(unittest.TestCase):
-    @contextmanager
-    def code_watcher(self, which_watcher):
-        wid = _testcapi.add_code_watcher(which_watcher)
-        try:
-            yield wid
-        finally:
-            _testcapi.clear_code_watcher(wid)
-
-    def assert_event_counts(self, exp_created_0, exp_destroyed_0,
-                            exp_created_1, exp_destroyed_1):
-        self.assertEqual(
-            exp_created_0, _testcapi.get_code_watcher_num_created_events(0))
-        self.assertEqual(
-            exp_destroyed_0, _testcapi.get_code_watcher_num_destroyed_events(0))
-        self.assertEqual(
-            exp_created_1, _testcapi.get_code_watcher_num_created_events(1))
-        self.assertEqual(
-            exp_destroyed_1, _testcapi.get_code_watcher_num_destroyed_events(1))
-
-    def test_code_object_events_dispatched(self):
-        # verify that all counts are zero before any watchers are registered
-        self.assert_event_counts(0, 0, 0, 0)
-
-        # verify that all counts remain zero when a code object is
-        # created and destroyed with no watchers registered
-        co1 = _testcapi.code_newempty("test_watchers", "dummy1", 0)
-        self.assert_event_counts(0, 0, 0, 0)
-        del co1
-        self.assert_event_counts(0, 0, 0, 0)
-
-        # verify counts are as expected when first watcher is registered
-        with self.code_watcher(0):
-            self.assert_event_counts(0, 0, 0, 0)
-            co2 = _testcapi.code_newempty("test_watchers", "dummy2", 0)
-            self.assert_event_counts(1, 0, 0, 0)
-            del co2
-            self.assert_event_counts(1, 1, 0, 0)
-
-            # again with second watcher registered
-            with self.code_watcher(1):
-                self.assert_event_counts(1, 1, 0, 0)
-                co3 = _testcapi.code_newempty("test_watchers", "dummy3", 0)
-                self.assert_event_counts(2, 1, 1, 0)
-                del co3
-                self.assert_event_counts(2, 2, 1, 1)
-
-        # verify counts remain as they were after both watchers are cleared
-        co4 = _testcapi.code_newempty("test_watchers", "dummy4", 0)
-        self.assert_event_counts(2, 2, 1, 1)
-        del co4
-        self.assert_event_counts(2, 2, 1, 1)
-
-    def test_clear_out_of_range_watcher_id(self):
-        with self.assertRaisesRegex(ValueError, r"Invalid code watcher ID -1"):
-            _testcapi.clear_code_watcher(-1)
-        with self.assertRaisesRegex(ValueError, r"Invalid code watcher ID 8"):
-            _testcapi.clear_code_watcher(8)  # CODE_MAX_WATCHERS = 8
-
-    def test_clear_unassigned_watcher_id(self):
-        with self.assertRaisesRegex(ValueError, r"No code watcher set for ID 1"):
-            _testcapi.clear_code_watcher(1)
-
-    def test_allocate_too_many_watchers(self):
-        with self.assertRaisesRegex(RuntimeError, r"no more code watcher IDs available"):
-            _testcapi.allocate_too_many_code_watchers()
-
-
 class TestFuncWatchers(unittest.TestCase):
     @contextmanager
     def add_watcher(self, func):
diff --git a/Misc/ACKS b/Misc/ACKS
index d50cb3c2d1ee4f..5d97067b85d3d4 100644
--- a/Misc/ACKS
+++ b/Misc/ACKS
@@ -1320,7 +1320,6 @@ Michele Orrù
 Tomáš Orsava
 Oleg Oshmyan
 Denis Osipov
-Itamar Ostricher
 Denis S. Otkidach
 Peter Otten
 Michael Otteneder
@@ -1628,7 +1627,6 @@ Silas Sewell
 Ian Seyer
 Dmitry Shachnev
 Anish Shah
-Jaineel Shah
 Daniel Shahaf
 Hui Shang
 Geoff Shannon
diff --git a/Misc/NEWS.d/next/Core and Builtins/2022-11-27-13-50-13.gh-issue-91054.oox_kW.rst b/Misc/NEWS.d/next/Core and Builtins/2022-11-27-13-50-13.gh-issue-91054.oox_kW.rst
deleted file mode 100644
index c46459c15b9e65..00000000000000
--- a/Misc/NEWS.d/next/Core and Builtins/2022-11-27-13-50-13.gh-issue-91054.oox_kW.rst	
+++ /dev/null
@@ -1,3 +0,0 @@
-Add :c:func:`PyCode_AddWatcher` and :c:func:`PyCode_ClearWatcher` APIs to
-register callbacks to receive notification on creation and destruction of
-code objects.
diff --git a/Modules/_testcapi/watchers.c b/Modules/_testcapi/watchers.c
index f0e51fd462e70e..608cd780d12a26 100644
--- a/Modules/_testcapi/watchers.c
+++ b/Modules/_testcapi/watchers.c
@@ -2,7 +2,6 @@
 
 #define Py_BUILD_CORE
 #include "pycore_function.h"  // FUNC_MAX_WATCHERS
-#include "pycore_code.h"  // CODE_MAX_WATCHERS
 
 // Test dict watching
 static PyObject *g_dict_watch_events;
@@ -278,126 +277,6 @@ unwatch_type(PyObject *self, PyObject *args)
     Py_RETURN_NONE;
 }
 
-
-// Test code object watching
-
-#define NUM_CODE_WATCHERS 2
-static int num_code_object_created_events[NUM_CODE_WATCHERS] = {0, 0};
-static int num_code_object_destroyed_events[NUM_CODE_WATCHERS] = {0, 0};
-
-static int
-handle_code_object_event(int which_watcher, PyCodeEvent event, PyCodeObject *co) {
-    if (event == PY_CODE_EVENT_CREATE) {
-        num_code_object_created_events[which_watcher]++;
-    }
-    else if (event == PY_CODE_EVENT_DESTROY) {
-        num_code_object_destroyed_events[which_watcher]++;
-    }
-    else {
-        return -1;
-    }
-    return 0;
-}
-
-static int
-first_code_object_callback(PyCodeEvent event, PyCodeObject *co)
-{
-    return handle_code_object_event(0, event, co);
-}
-
-static int
-second_code_object_callback(PyCodeEvent event, PyCodeObject *co)
-{
-    return handle_code_object_event(1, event, co);
-}
-
-static int
-noop_code_event_handler(PyCodeEvent event, PyCodeObject *co)
-{
-    return 0;
-}
-
-static PyObject *
-add_code_watcher(PyObject *self, PyObject *which_watcher)
-{
-    int watcher_id;
-    assert(PyLong_Check(which_watcher));
-    long which_l = PyLong_AsLong(which_watcher);
-    if (which_l == 0) {
-        watcher_id = PyCode_AddWatcher(first_code_object_callback);
-    }
-    else if (which_l == 1) {
-        watcher_id = PyCode_AddWatcher(second_code_object_callback);
-    }
-    else {
-        return NULL;
-    }
-    if (watcher_id < 0) {
-        return NULL;
-    }
-    return PyLong_FromLong(watcher_id);
-}
-
-static PyObject *
-clear_code_watcher(PyObject *self, PyObject *watcher_id)
-{
-    assert(PyLong_Check(watcher_id));
-    long watcher_id_l = PyLong_AsLong(watcher_id);
-    if (PyCode_ClearWatcher(watcher_id_l) < 0) {
-        return NULL;
-    }
-    Py_RETURN_NONE;
-}
-
-static PyObject *
-get_code_watcher_num_created_events(PyObject *self, PyObject *watcher_id)
-{
-    assert(PyLong_Check(watcher_id));
-    long watcher_id_l = PyLong_AsLong(watcher_id);
-    assert(watcher_id_l >= 0 && watcher_id_l < NUM_CODE_WATCHERS);
-    return PyLong_FromLong(num_code_object_created_events[watcher_id_l]);
-}
-
-static PyObject *
-get_code_watcher_num_destroyed_events(PyObject *self, PyObject *watcher_id)
-{
-    assert(PyLong_Check(watcher_id));
-    long watcher_id_l = PyLong_AsLong(watcher_id);
-    assert(watcher_id_l >= 0 && watcher_id_l < NUM_CODE_WATCHERS);
-    return PyLong_FromLong(num_code_object_destroyed_events[watcher_id_l]);
-}
-
-static PyObject *
-allocate_too_many_code_watchers(PyObject *self, PyObject *args)
-{
-    int watcher_ids[CODE_MAX_WATCHERS + 1];
-    int num_watchers = 0;
-    for (unsigned long i = 0; i < sizeof(watcher_ids) / sizeof(int); i++) {
-        int watcher_id = PyCode_AddWatcher(noop_code_event_handler);
-        if (watcher_id == -1) {
-            break;
-        }
-        watcher_ids[i] = watcher_id;
-        num_watchers++;
-    }
-    PyObject *type, *value, *traceback;
-    PyErr_Fetch(&type, &value, &traceback);
-    for (int i = 0; i < num_watchers; i++) {
-        if (PyCode_ClearWatcher(watcher_ids[i]) < 0) {
-            PyErr_WriteUnraisable(Py_None);
-            break;
-        }
-    }
-    if (type) {
-        PyErr_Restore(type, value, traceback);
-        return NULL;
-    }
-    else if (PyErr_Occurred()) {
-        return NULL;
-    }
-    Py_RETURN_NONE;
-}
-
 // Test function watchers
 
 #define NUM_FUNC_WATCHERS 2
@@ -630,16 +509,6 @@ static PyMethodDef test_methods[] = {
     {"unwatch_type",             unwatch_type,            METH_VARARGS, NULL},
     {"get_type_modified_events", get_type_modified_events, METH_NOARGS, NULL},
 
-    // Code object watchers.
-    {"add_code_watcher",         add_code_watcher,        METH_O,       NULL},
-    {"clear_code_watcher",       clear_code_watcher,      METH_O,       NULL},
-    {"get_code_watcher_num_created_events",
-     get_code_watcher_num_created_events,                 METH_O,       NULL},
-    {"get_code_watcher_num_destroyed_events",
-     get_code_watcher_num_destroyed_events,               METH_O,       NULL},
-    {"allocate_too_many_code_watchers",
-     (PyCFunction) allocate_too_many_code_watchers,       METH_NOARGS,  NULL},
-
     // Function watchers.
     {"add_func_watcher",         add_func_watcher,        METH_O,       NULL},
     {"clear_func_watcher",       clear_func_watcher,      METH_O,       NULL},
diff --git a/Objects/codeobject.c b/Objects/codeobject.c
index 0c197d767b0a23..f5d90cf65fcec3 100644
--- a/Objects/codeobject.c
+++ b/Objects/codeobject.c
@@ -12,66 +12,6 @@
 #include "clinic/codeobject.c.h"
 
 
-static void
-notify_code_watchers(PyCodeEvent event, PyCodeObject *co)
-{
-    PyInterpreterState *interp = _PyInterpreterState_GET();
-    if (interp->active_code_watchers) {
-        assert(interp->_initialized);
-        for (int i = 0; i < CODE_MAX_WATCHERS; i++) {
-            PyCode_WatchCallback cb = interp->code_watchers[i];
-            if ((cb != NULL) && (cb(event, co) < 0)) {
-                PyErr_WriteUnraisable((PyObject *) co);
-            }
-        }
-    }
-}
-
-int
-PyCode_AddWatcher(PyCode_WatchCallback callback)
-{
-    PyInterpreterState *interp = _PyInterpreterState_GET();
-    assert(interp->_initialized);
-
-    for (int i = 0; i < CODE_MAX_WATCHERS; i++) {
-        if (!interp->code_watchers[i]) {
-            interp->code_watchers[i] = callback;
-            interp->active_code_watchers |= (1 << i);
-            return i;
-        }
-    }
-
-    PyErr_SetString(PyExc_RuntimeError, "no more code watcher IDs available");
-    return -1;
-}
-
-static inline int
-validate_watcher_id(PyInterpreterState *interp, int watcher_id)
-{
-    if (watcher_id < 0 || watcher_id >= CODE_MAX_WATCHERS) {
-        PyErr_Format(PyExc_ValueError, "Invalid code watcher ID %d", watcher_id);
-        return -1;
-    }
-    if (!interp->code_watchers[watcher_id]) {
-        PyErr_Format(PyExc_ValueError, "No code watcher set for ID %d", watcher_id);
-        return -1;
-    }
-    return 0;
-}
-
-int
-PyCode_ClearWatcher(int watcher_id)
-{
-    PyInterpreterState *interp = _PyInterpreterState_GET();
-    assert(interp->_initialized);
-    if (validate_watcher_id(interp, watcher_id) < 0) {
-        return -1;
-    }
-    interp->code_watchers[watcher_id] = NULL;
-    interp->active_code_watchers &= ~(1 << watcher_id);
-    return 0;
-}
-
 /******************
  * generic helpers
  ******************/
@@ -415,7 +355,6 @@ init_code(PyCodeObject *co, struct _PyCodeConstructor *con)
     }
     co->_co_firsttraceable = entry_point;
     _PyCode_Quicken(co);
-    notify_code_watchers(PY_CODE_EVENT_CREATE, co);
 }
 
 static int
@@ -1676,8 +1615,6 @@ code_new_impl(PyTypeObject *type, int argcount, int posonlyargcount,
 static void
 code_dealloc(PyCodeObject *co)
 {
-    notify_code_watchers(PY_CODE_EVENT_DESTROY, co);
-
     if (co->co_extra != NULL) {
         PyInterpreterState *interp = _PyInterpreterState_GET();
         _PyCodeObjectExtra *co_extra = co->co_extra;
diff --git a/Python/pystate.c b/Python/pystate.c
index 0fdcdf1e3569b1..943102a53b13cd 100644
--- a/Python/pystate.c
+++ b/Python/pystate.c
@@ -466,11 +466,6 @@ interpreter_clear(PyInterpreterState *interp, PyThreadState *tstate)
     }
     interp->active_func_watchers = 0;
 
-    for (int i=0; i < CODE_MAX_WATCHERS; i++) {
-        interp->code_watchers[i] = NULL;
-    }
-    interp->active_code_watchers = 0;
-
     // XXX Once we have one allocator per interpreter (i.e.
     // per-interpreter GC) we must ensure that all of the interpreter's
     // objects have been cleaned up at the point.