diff --git a/python/pyarrow/error.pxi b/python/pyarrow/error.pxi
index 2866848272a..882427f32ea 100644
--- a/python/pyarrow/error.pxi
+++ b/python/pyarrow/error.pxi
@@ -25,6 +25,8 @@ import os
 import signal
 import threading
 
+from pyarrow.util import _break_traceback_cycle_from_frame
+
 
 class ArrowException(Exception):
     pass
@@ -171,6 +173,10 @@ def enable_signal_handlers(c_bool enable):
 
 # For internal use
 
+# Whether we need a workaround for https://bugs.python.org/issue42248
+have_signal_refcycle = (sys.version_info < (3, 8, 10) or
+                        (3, 9) <= sys.version_info < (3, 9, 5))
+
 cdef class SignalStopHandler:
     cdef:
         StopToken _stop_token
@@ -180,13 +186,9 @@ cdef class SignalStopHandler:
     def __cinit__(self):
         self._enabled = False
 
-        tid = threading.current_thread().ident
-        if (signal_handlers_enabled and
-                threading.current_thread() is threading.main_thread()):
-            self._signals = [
-                sig for sig in (signal.SIGINT, signal.SIGTERM)
-                if signal.getsignal(sig) not in (signal.SIG_DFL,
-                                                 signal.SIG_IGN, None)]
+        self._init_signals()
+        if have_signal_refcycle:
+            _break_traceback_cycle_from_frame(sys._getframe(0))
 
         self._stop_token = StopToken()
         if not self._signals.empty():
@@ -194,6 +196,14 @@ cdef class SignalStopHandler:
                 SetSignalStopSource()).token())
             self._enabled = True
 
+    def _init_signals(self):
+        if (signal_handlers_enabled and
+                threading.current_thread() is threading.main_thread()):
+            self._signals = [
+                sig for sig in (signal.SIGINT, signal.SIGTERM)
+                if signal.getsignal(sig) not in (signal.SIG_DFL,
+                                                 signal.SIG_IGN, None)]
+
     def __enter__(self):
         if self._enabled:
             check_status(RegisterCancellingSignalHandler(self._signals))
diff --git a/python/pyarrow/tests/test_csv.py b/python/pyarrow/tests/test_csv.py
index 482973a7258..5faffd3e9f8 100644
--- a/python/pyarrow/tests/test_csv.py
+++ b/python/pyarrow/tests/test_csv.py
@@ -31,6 +31,7 @@
 import threading
 import time
 import unittest
+import weakref
 
 import pytest
 
@@ -1617,3 +1618,15 @@ def test_write_read_round_trip():
 
         read_options = ReadOptions(column_names=t.column_names)
         assert t == read_csv(buf, read_options=read_options)
+
+
+def test_read_csv_reference_cycle():
+    # ARROW-13187
+    def inner():
+        buf = io.BytesIO(b"a,b,c\n1,2,3\n4,5,6")
+        table = read_csv(buf)
+        return weakref.ref(table)
+
+    with util.disabled_gc():
+        wr = inner()
+        assert wr() is None
diff --git a/python/pyarrow/tests/test_util.py b/python/pyarrow/tests/test_util.py
new file mode 100644
index 00000000000..2b351a53442
--- /dev/null
+++ b/python/pyarrow/tests/test_util.py
@@ -0,0 +1,52 @@
+# Licensed to the Apache Software Foundation (ASF) under one
+# or more contributor license agreements.  See the NOTICE file
+# distributed with this work for additional information
+# regarding copyright ownership.  The ASF licenses this file
+# to you under the Apache License, Version 2.0 (the
+# "License"); you may not use this file except in compliance
+# with the License.  You may obtain a copy of the License at
+#
+#   http://www.apache.org/licenses/LICENSE-2.0
+#
+# Unless required by applicable law or agreed to in writing,
+# software distributed under the License is distributed on an
+# "AS IS" BASIS, WITHOUT WARRANTIES OR CONDITIONS OF ANY
+# KIND, either express or implied.  See the License for the
+# specific language governing permissions and limitations
+# under the License.
+
+import gc
+import signal
+import sys
+import weakref
+
+import pytest
+
+from pyarrow import util
+from pyarrow.tests.util import disabled_gc
+
+
+def exhibit_signal_refcycle():
+    # Put an object in the frame locals and return a weakref to it.
+    # If `signal.getsignal` has a bug where it creates a reference cycle
+    # keeping alive the current execution frames, `obj` will not be
+    # destroyed immediately when this function returns.
+    obj = set()
+    signal.getsignal(signal.SIGINT)
+    return weakref.ref(obj)
+
+
+def test_signal_refcycle():
+    # Test possible workaround for https://bugs.python.org/issue42248
+    with disabled_gc():
+        wr = exhibit_signal_refcycle()
+        if wr() is None:
+            pytest.skip(
+                "Python version does not have the bug we're testing for")
+
+    gc.collect()
+    with disabled_gc():
+        wr = exhibit_signal_refcycle()
+        assert wr() is not None
+        util._break_traceback_cycle_from_frame(sys._getframe(0))
+        assert wr() is None
diff --git a/python/pyarrow/tests/util.py b/python/pyarrow/tests/util.py
index 3425fe01c9b..558df8cf1b0 100644
--- a/python/pyarrow/tests/util.py
+++ b/python/pyarrow/tests/util.py
@@ -225,6 +225,15 @@ def change_cwd(path):
         os.chdir(curdir)
 
 
+@contextlib.contextmanager
+def disabled_gc():
+    gc.disable()
+    try:
+        yield
+    finally:
+        gc.enable()
+
+
 def _filesystem_uri(path):
     # URIs on Windows must follow 'file:///C:...' or 'file:/C:...' patterns.
     if os.name == 'nt':
diff --git a/python/pyarrow/util.py b/python/pyarrow/util.py
index 446e6733351..69bde250cac 100644
--- a/python/pyarrow/util.py
+++ b/python/pyarrow/util.py
@@ -19,8 +19,11 @@
 
 import contextlib
 import functools
+import gc
 import pathlib
 import socket
+import sys
+import types
 import warnings
 
 
@@ -150,3 +153,26 @@ def find_free_port():
 def guid():
     from uuid import uuid4
     return uuid4().hex
+
+
+def _break_traceback_cycle_from_frame(frame):
+    # Clear local variables in all inner frames, so as to break the
+    # reference cycle.
+    this_frame = sys._getframe(0)
+    refs = gc.get_referrers(frame)
+    while refs:
+        for frame in refs:
+            if frame is not this_frame and isinstance(frame, types.FrameType):
+                break
+        else:
+            # No frame found in referrers (finished?)
+            break
+        refs = None
+        # Clear the frame locals, to try and break the cycle (it is
+        # somewhere along the chain of execution frames).
+        frame.clear()
+        # To visit the inner frame, we need to find it among the
+        # referers of this frame (while `frame.f_back` would let
+        # us visit the outer frame).
+        refs = gc.get_referrers(frame)
+    refs = frame = this_frame = None