diff --git a/changelog/10702.bugfix.rst b/changelog/10702.bugfix.rst
new file mode 100644
index 000000000..4008cc882
--- /dev/null
+++ b/changelog/10702.bugfix.rst
@@ -0,0 +1 @@
+Fixed error assertion handling in :func:`pytest.approx` when ``None`` is an expected or received value when comparing dictionaries.
diff --git a/src/_pytest/python_api.py b/src/_pytest/python_api.py
index 0967ae8ec..35560f168 100644
--- a/src/_pytest/python_api.py
+++ b/src/_pytest/python_api.py
@@ -265,19 +265,20 @@ class ApproxMapping(ApproxBase):
             approx_side_as_map.items(), other_side.values()
         ):
             if approx_value != other_value:
-                max_abs_diff = max(
-                    max_abs_diff, abs(approx_value.expected - other_value)
-                )
-                if approx_value.expected == 0.0:
-                    max_rel_diff = math.inf
-                else:
-                    max_rel_diff = max(
-                        max_rel_diff,
-                        abs(
-                            (approx_value.expected - other_value)
-                            / approx_value.expected
-                        ),
+                if not any((approx_value.expected is None, other_value is None)):
+                    max_abs_diff = max(
+                        max_abs_diff, abs(approx_value.expected - other_value)
                     )
+                    if approx_value.expected == 0.0:
+                        max_rel_diff = math.inf
+                    else:
+                        max_rel_diff = max(
+                            max_rel_diff,
+                            abs(
+                                (approx_value.expected - other_value)
+                                / approx_value.expected
+                            ),
+                        )
                 different_ids.append(approx_key)
 
         message_data = [
diff --git a/testing/python/approx.py b/testing/python/approx.py
index 631e52b56..6ad411a3e 100644
--- a/testing/python/approx.py
+++ b/testing/python/approx.py
@@ -122,6 +122,23 @@ class TestApprox:
             ],
         )
 
+        assert_approx_raises_regex(
+            {"a": 1.0, "b": None, "c": None},
+            {
+                "a": None,
+                "b": 1000.0,
+                "c": None,
+            },
+            [
+                r"  comparison failed. Mismatched elements: 2 / 3:",
+                r"  Max absolute difference: -inf",
+                r"  Max relative difference: -inf",
+                r"  Index \| Obtained\s+\| Expected\s+",
+                rf"  a     \| {SOME_FLOAT} \| None",
+                rf"  b     \| None\s+\| {SOME_FLOAT} ± {SOME_FLOAT}",
+            ],
+        )
+
         assert_approx_raises_regex(
             [1.0, 2.0, 3.0, 4.0],
             [1.0, 3.0, 3.0, 5.0],