diff --git a/CHANGES/3414.bugfix b/CHANGES/3414.bugfix
new file mode 100644
index 00000000000..d20a62ebf86
--- /dev/null
+++ b/CHANGES/3414.bugfix
@@ -0,0 +1,2 @@
+Fix `asyncio.TimeoutError` stack trace not logged, when it is caught
+in the handler.
diff --git a/CONTRIBUTORS.txt b/CONTRIBUTORS.txt
index 538b0d0f834..5cfd24d5a28 100644
--- a/CONTRIBUTORS.txt
+++ b/CONTRIBUTORS.txt
@@ -172,6 +172,7 @@ Paulius Šileikis
 Paulus Schoutsen
 Pavel Kamaev
 Pavel Polyakov
+Pawel Kowalski
 Pawel Miech
 Pepe Osca
 Philipp A.
diff --git a/aiohttp/web_protocol.py b/aiohttp/web_protocol.py
index bd98c4a7c4a..9399cf86b9a 100644
--- a/aiohttp/web_protocol.py
+++ b/aiohttp/web_protocol.py
@@ -408,8 +408,8 @@ async def start(self) -> None:
                 except asyncio.CancelledError:
                     self.log_debug('Ignored premature client disconnection')
                     break
-                except asyncio.TimeoutError:
-                    self.log_debug('Request handler timed out.')
+                except asyncio.TimeoutError as exc:
+                    self.log_debug('Request handler timed out.', exc_info=exc)
                     resp = self.handle_error(request, 504)
                 except Exception as exc:
                     resp = self.handle_error(request, 500, exc)
diff --git a/tests/test_web_protocol.py b/tests/test_web_protocol.py
index ab6f2472e3f..dc1edc842bb 100644
--- a/tests/test_web_protocol.py
+++ b/tests/test_web_protocol.py
@@ -581,6 +581,17 @@ async def test_handle_500(srv, buf, transport, request_handler) -> None:
     assert b'500 Internal Server Error' in buf
 
 
+async def test_handle_504(srv, buf, request_handler) -> None:
+    request_handler.side_effect = asyncio.TimeoutError
+
+    srv.data_received(
+        b'GET / HTTP/1.0\r\n'
+        b'Host: example.com\r\n\r\n')
+    await srv._task_handler
+
+    assert b'504 Gateway Timeout' in buf
+
+
 async def test_keep_alive(make_srv, transport, ceil) -> None:
     loop = asyncio.get_event_loop()
     srv = make_srv(keepalive_timeout=0.05)
diff --git a/tests/test_web_server.py b/tests/test_web_server.py
index 083a5f54128..7fe714b578e 100644
--- a/tests/test_web_server.py
+++ b/tests/test_web_server.py
@@ -53,7 +53,7 @@ async def handler(request):
     assert resp.status == 504
 
     await resp.text()
-    logger.debug.assert_called_with("Request handler timed out.")
+    logger.debug.assert_called_with("Request handler timed out.", exc_info=exc)
 
 
 async def test_raw_server_do_not_swallow_exceptions(aiohttp_raw_server,