diff --git a/docs/source/type_narrowing.rst b/docs/source/type_narrowing.rst
index 25d6629aa694..035109df7e37 100644
--- a/docs/source/type_narrowing.rst
+++ b/docs/source/type_narrowing.rst
@@ -37,7 +37,8 @@ Type narrowing is contextual. For example, based on the condition, mypy will nar
       # Back outside of the ``if`` statement, the type isn't narrowed:
       reveal_type(arg)  # Revealed type: "builtins.object"
 
-Mypy understands the implications `return` or exception raising can have for what type an object could be:
+Mypy understands the implications ``return`` or exception raising can have
+for what type an object could be:
 
 .. code-block:: python
 
@@ -295,3 +296,35 @@ TypeGuards as methods
 
     def is_child(instance: Parent) -> TypeGuard[Child]:
         return isinstance(instance, Child)
+
+Assignment expressions as TypeGuards
+~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
+
+Sometimes you might need to create a new variable and narrow it
+to some specific type at the same time.
+This can be achieved by using ``TypeGuard`` together
+with `:= operator <https://docs.python.org/3/whatsnew/3.8.html#assignment-expressions>`_.
+
+.. code-block:: python
+
+  from typing import TypeGuard  # use `typing_extensions` for `python<3.10`
+
+  def is_float(a: object) -> TypeGuard[float]:
+      return isinstance(a, float)
+
+  def main(a: object) -> None:
+      if is_float(x := a):
+          reveal_type(x)  # N: Revealed type is 'builtins.float'
+          reveal_type(a)  # N: Revealed type is 'builtins.object'
+      reveal_type(x)  # N: Revealed type is 'builtins.object'
+      reveal_type(a)  # N: Revealed type is 'builtins.object'
+
+What happens here?
+
+1. We create a new variable ``x`` and assign a value of ``a`` to it
+2. We run ``is_float()`` type guard on ``x``
+3. It narrows ``x`` to be ``float`` in the ``if`` context and does not touch ``a``
+
+.. note::
+
+  The same will work with ``isinstance(x := a, float)`` as well.