diff --git a/changelog/69442.fixed.md b/changelog/69442.fixed.md
new file mode 100644
index 00000000000..64f4dcf983e
--- /dev/null
+++ b/changelog/69442.fixed.md
@@ -0,0 +1 @@
+Fixed `AsyncAuth._authenticate()` on the minion to honour `auth_tries` as an outer-loop cap, so a minion that keeps getting `retry` responses from `sign_in()` bails out with `SaltClientError` instead of looping silently forever.
diff --git a/salt/crypt.py b/salt/crypt.py
index ac8667589c0..a1905579a17 100644
--- a/salt/crypt.py
+++ b/salt/crypt.py
@@ -773,7 +773,10 @@ def _authenticate(self):
             self.opts, crypt="clear", io_loop=self.io_loop
         ) as channel:
             error = None
+            attempts = 0
+            auth_tries = self.opts.get("auth_tries", 0)
             while True:
+                attempts += 1
                 try:
                     creds = yield self.sign_in(channel=channel)
                 except SaltClientError as exc:
@@ -783,6 +786,11 @@ def _authenticate(self):
                     if self.opts.get("detect_mode") is True:
                         error = SaltClientError("Detect mode is on")
                         break
+                    if auth_tries > 0 and attempts >= auth_tries:
+                        error = SaltClientError(
+                            f"Failed to authenticate with the master after {attempts} attempts"
+                        )
+                        break
                     if self.opts.get("caller"):
                         # We have a list of masters, so we should break
                         # and try the next one in the list.
diff --git a/tests/pytests/unit/test_crypt.py b/tests/pytests/unit/test_crypt.py
index 2ac1a3cee2b..e52c71f3875 100644
--- a/tests/pytests/unit/test_crypt.py
+++ b/tests/pytests/unit/test_crypt.py
@@ -5,6 +5,7 @@
 
 import salt.crypt as crypt
 import salt.exceptions
+import salt.ext.tornado.gen
 from tests.support.mock import patch
 
 
@@ -350,3 +351,59 @@ def test_verify_master_caches_clean_key_on_first_contact(
 
     assert result == "aes-key"
     assert m_pub_fn.read_text() == cached_pub_key
+
+
+async def test_authenticate_caps_retry_loop_with_auth_tries_69442(minion_root, io_loop):
+    """
+    Regression test for https://github.com/saltstack/salt/issues/69442
+
+    When ``sign_in()`` keeps returning ``"retry"`` (for example because the
+    master has not yet accepted the minion key, the master AES key is in
+    flux, or the master is reachable but rejecting auth), the outer
+    ``AsyncAuth._authenticate()`` loop must bail out after ``auth_tries``
+    attempts with a ``SaltClientError`` whose message names the attempt
+    count.
+
+    On 3006.x/3007.x the loop had no outer-attempts cap and the minion
+    spun forever with exponential backoff up to ``acceptance_wait_time_max``
+    with no operator-visible error log. This test asserts the
+    backported cap: with ``auth_tries=3`` and ``sign_in`` returning
+    ``"retry"`` on every call, the loop runs exactly 3 attempts and the
+    future resolves to a ``SaltClientError`` carrying the
+    ``"Failed to authenticate with the master after 3 attempts"`` message.
+    """
+    pki_dir = minion_root / "etc" / "salt" / "pki"
+    opts = {
+        "id": "minion",
+        "__role": "minion",
+        "pki_dir": str(pki_dir),
+        "master_uri": "tcp://127.0.0.1:4505",
+        "keysize": 4096,
+        # Zero out the inter-attempt sleep so the test doesn't actually
+        # wait ``acceptance_wait_time * attempts`` seconds before
+        # observing the cap.
+        "acceptance_wait_time": 0,
+        "acceptance_wait_time_max": 0,
+        "auth_tries": 3,
+    }
+    crypt.gen_keys(pki_dir, "minion", opts["keysize"])
+
+    auth = crypt.AsyncAuth(opts, io_loop)
+
+    call_count = 0
+
+    @salt.ext.tornado.gen.coroutine
+    def mock_sign_in(*args, **kwargs):
+        nonlocal call_count
+        call_count += 1
+        return "retry"
+
+    auth.sign_in = mock_sign_in
+
+    with pytest.raises(salt.exceptions.SaltClientError) as exc_info:
+        await auth.authenticate()
+
+    assert call_count == 3
+    assert "Failed to authenticate with the master after 3 attempts" in str(
+        exc_info.value
+    )