diff --git a/changelog.d/19416.bugfix b/changelog.d/19416.bugfix
new file mode 100644
index 0000000000..f0c2872410
--- /dev/null
+++ b/changelog.d/19416.bugfix
@@ -0,0 +1 @@
+Fix memory leak caused by not cleaning up stopped looping calls. Introduced in v1.140.0.
diff --git a/synapse/util/clock.py b/synapse/util/clock.py
index 4355704f8a..a3872d6f93 100644
--- a/synapse/util/clock.py
+++ b/synapse/util/clock.py
@@ -15,10 +15,12 @@
 
 
 import logging
+from functools import wraps
 from typing import (
     Any,
     Callable,
 )
+from weakref import WeakSet
 
 from typing_extensions import ParamSpec
 from zope.interface import implementer
@@ -86,7 +88,7 @@ class Clock:
         self._delayed_call_id: int = 0
         """Unique ID used to track delayed calls"""
 
-        self._looping_calls: list[LoopingCall] = []
+        self._looping_calls: WeakSet[LoopingCall] = WeakSet()
         """List of active looping calls"""
 
         self._call_id_to_delayed_call: dict[int, IDelayedCall] = {}
@@ -193,6 +195,7 @@ class Clock:
         if now:
             looping_call_context_string = "looping_call_now"
 
+        @wraps(f)
         def wrapped_f(*args: P.args, **kwargs: P.kwargs) -> Deferred:
             clock_debug_logger.debug(
                 "%s(%s): Executing callback", looping_call_context_string, instance_id
@@ -240,7 +243,7 @@ class Clock:
         with context.PreserveLoggingContext():
             d = call.start(duration.as_secs(), now=now)
         d.addErrback(log_failure, "Looping call died", consumeErrors=False)
-        self._looping_calls.append(call)
+        self._looping_calls.add(call)
 
         clock_debug_logger.debug(
             "%s(%s): Scheduled looping call every %sms later",
@@ -302,6 +305,7 @@ class Clock:
         if self._is_shutdown:
             raise Exception("Cannot start delayed call. Clock has been shutdown")
 
+        @wraps(callback)
         def wrapped_callback(*args: Any, **kwargs: Any) -> None:
             clock_debug_logger.debug("call_later(%s): Executing callback", call_id)
 
diff --git a/tests/util/test_clock.py b/tests/util/test_clock.py
new file mode 100644
index 0000000000..6c5a1158f5
--- /dev/null
+++ b/tests/util/test_clock.py
@@ -0,0 +1,77 @@
+#
+# This file is licensed under the Affero General Public License (AGPL) version 3.
+#
+# Copyright (C) 2025 Element Creations Ltd
+#
+# This program is free software: you can redistribute it and/or modify
+# it under the terms of the GNU Affero General Public License as
+# published by the Free Software Foundation, either version 3 of the
+# License, or (at your option) any later version.
+#
+# See the GNU Affero General Public License for more details:
+# <https://www.gnu.org/licenses/agpl-3.0.html>.
+#
+#
+
+import weakref
+
+from synapse.util.duration import Duration
+
+from tests.unittest import HomeserverTestCase
+
+
+class ClockTestCase(HomeserverTestCase):
+    def test_looping_calls_are_gced(self) -> None:
+        """Test that looping calls are garbage collected after being stopped.
+
+        The `Clock` tracks looping calls so to allow stopping of all looping
+        calls via the clock.
+        """
+        clock = self.hs.get_clock()
+
+        # Create a new looping call, and take a weakref to it.
+        call = clock.looping_call(lambda: None, Duration(seconds=1))
+
+        weak_call = weakref.ref(call)
+
+        # Stop the looping call. It should get garbage collected after this.
+        call.stop()
+
+        # Delete our strong reference to the call (otherwise it won't get garbage collected).
+        del call
+
+        # Check that the call has been garbage collected.
+        self.assertIsNone(weak_call())
+
+    def test_looping_calls_stopped_on_clock_shutdown(self) -> None:
+        """Test that looping calls are stopped when the clock is shut down."""
+        clock = self.hs.get_clock()
+
+        was_called = False
+
+        def on_call() -> None:
+            nonlocal was_called
+            was_called = True
+
+        # Create a new looping call.
+        call = clock.looping_call(on_call, Duration(seconds=1))
+        weak_call = weakref.ref(call)
+        del call  # Remove our strong reference to the call.
+
+        # The call should still exist.
+        self.assertIsNotNone(weak_call())
+
+        # Advance the clock to trigger the call.
+        self.reactor.advance(2)
+        self.assertTrue(was_called)
+
+        # Shut down the clock, which should stop the looping call.
+        clock.shutdown()
+
+        # The call should have been garbage collected.
+        self.assertIsNone(weak_call())
+
+        # Advance the clock again; the call should not be called again.
+        was_called = False
+        self.reactor.advance(2)
+        self.assertFalse(was_called)