diff --git a/django/db/models/base.py b/django/db/models/base.py
index c3f6b32a5e..1e47ca7d1d 100644
--- a/django/db/models/base.py
+++ b/django/db/models/base.py
@@ -1561,7 +1561,7 @@ class Model(AltersData, metaclass=ModelBase):
 
         errors = {}
         for f in self._meta.fields:
-            if f.name in exclude:
+            if f.name in exclude or f.generated:
                 continue
             # Skip validation for empty fields with blank=True. The developer
             # is responsible for making sure they have a valid value.
diff --git a/docs/releases/5.0.2.txt b/docs/releases/5.0.2.txt
index a5e2b6eee4..05f80bb00f 100644
--- a/docs/releases/5.0.2.txt
+++ b/docs/releases/5.0.2.txt
@@ -15,3 +15,6 @@ Bugfixes
 
 * Fixed a regression in Django 5.0 where links in the admin had an incorrect
   color (:ticket:`35121`).
+
+* Fixed a bug in Django 5.0 that caused a crash of ``Model.full_clean()`` on
+  models with a ``GeneratedField`` (:ticket:`35127`).
diff --git a/tests/model_fields/models.py b/tests/model_fields/models.py
index 69b4e26145..e34f3c8947 100644
--- a/tests/model_fields/models.py
+++ b/tests/model_fields/models.py
@@ -502,7 +502,7 @@ class GeneratedModel(models.Model):
         output_field=models.IntegerField(),
         db_persist=True,
     )
-    fk = models.ForeignKey(Foo, on_delete=models.CASCADE, null=True)
+    fk = models.ForeignKey(Foo, on_delete=models.CASCADE, null=True, blank=True)
 
     class Meta:
         required_db_features = {"supports_stored_generated_columns"}
@@ -516,7 +516,7 @@ class GeneratedModelVirtual(models.Model):
         output_field=models.IntegerField(),
         db_persist=False,
     )
-    fk = models.ForeignKey(Foo, on_delete=models.CASCADE, null=True)
+    fk = models.ForeignKey(Foo, on_delete=models.CASCADE, null=True, blank=True)
 
     class Meta:
         required_db_features = {"supports_virtual_generated_columns"}
diff --git a/tests/model_fields/test_generatedfield.py b/tests/model_fields/test_generatedfield.py
index 589f78cbb0..a636e984fd 100644
--- a/tests/model_fields/test_generatedfield.py
+++ b/tests/model_fields/test_generatedfield.py
@@ -168,6 +168,14 @@ class GeneratedFieldTestMixin:
         with self.assertRaisesMessage(AttributeError, msg):
             m.field
 
+    def test_full_clean(self):
+        m = self.base_model(a=1, b=2)
+        # full_clean() ignores GeneratedFields.
+        m.full_clean()
+        m.save()
+        m = self._refresh_if_needed(m)
+        self.assertEqual(m.field, 3)
+
     def test_create(self):
         m = self.base_model.objects.create(a=1, b=2)
         m = self._refresh_if_needed(m)