diff --git a/CHANGELOG.md b/CHANGELOG.md
index 631a444866..39783a027e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -23,6 +23,7 @@
 
 ### Fixes
 
+- [#8869](https://github.com/blockscout/blockscout/pull/8869) - Limit TokenBalance fetcher timeout
 - [#8855](https://github.com/blockscout/blockscout/pull/8855) - All transactions count at top addresses page
 - [#8836](https://github.com/blockscout/blockscout/pull/8836) - Safe token update
 - [#8814](https://github.com/blockscout/blockscout/pull/8814) - Improve performance for EOA addresses in `/api/v2/addresses/{address_hash}`
diff --git a/apps/indexer/lib/indexer/fetcher/token_balance.ex b/apps/indexer/lib/indexer/fetcher/token_balance.ex
index c9507315bc..29b3bad043 100644
--- a/apps/indexer/lib/indexer/fetcher/token_balance.ex
+++ b/apps/indexer/lib/indexer/fetcher/token_balance.ex
@@ -28,6 +28,8 @@ defmodule Indexer.Fetcher.TokenBalance do
   @default_max_batch_size 100
   @default_max_concurrency 10
 
+  @timeout :timer.minutes(10)
+
   @max_retries 3
 
   @spec async_fetch([
@@ -156,7 +158,7 @@ defmodule Indexer.Fetcher.TokenBalance do
       address_current_token_balances: %{
         params: TokenBalances.to_address_current_token_balances(formatted_token_balances_params)
       },
-      timeout: :infinity
+      timeout: @timeout
     }
 
     case Chain.import(import_params) do