diff --git a/CHANGELOG.md b/CHANGELOG.md
index b963cfddc2..038706f35c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -39,6 +39,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ### Fixed
 
+- `opentelemetry-instrumentation-dbapi` Fix compatibility with Psycopg3 to extract libpq build version (#2500)[https://github.com/open-telemetry/opentelemetry-python-contrib/pull/2500]
 - `opentelemetry-instrumentation-grpc` AioClientInterceptor should propagate with a Metadata object
   ([#2363](https://github.com/open-telemetry/opentelemetry-python-contrib/pull/2363))
 - `opentelemetry-instrumentation-boto3sqs` Instrument Session and resource
@@ -126,7 +127,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
   ([#1959](https://github.com/open-telemetry/opentelemetry-python-contrib/pull/1959))
 - `opentelemetry-resource-detector-azure` Added dependency for Cloud Resource ID attribute
   ([#2072](https://github.com/open-telemetry/opentelemetry-python-contrib/pull/2072))
-  
+
 ## Version 1.21.0/0.42b0 (2023-11-01)
 
 ### Added
@@ -1540,4 +1541,3 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 - `opentelemetry-resource-detector-azure` Suppress instrumentation for `urllib` call
   ([#2178](https://github.com/open-telemetry/opentelemetry-python-contrib/pull/2178))
 - AwsLambdaInstrumentor handles and re-raises function exception ([#2245](https://github.com/open-telemetry/opentelemetry-python-contrib/pull/2245))
-
diff --git a/instrumentation/opentelemetry-instrumentation-dbapi/src/opentelemetry/instrumentation/dbapi/__init__.py b/instrumentation/opentelemetry-instrumentation-dbapi/src/opentelemetry/instrumentation/dbapi/__init__.py
index b0acbed185..0857d2989b 100644
--- a/instrumentation/opentelemetry-instrumentation-dbapi/src/opentelemetry/instrumentation/dbapi/__init__.py
+++ b/instrumentation/opentelemetry-instrumentation-dbapi/src/opentelemetry/instrumentation/dbapi/__init__.py
@@ -427,12 +427,19 @@ def traced_execution(
             if args and self._commenter_enabled:
                 try:
                     args_list = list(args)
+                    if hasattr(self._connect_module, "__libpq_version__"):
+                        libpq_version = self._connect_module.__libpq_version__
+                    else:
+                        libpq_version = (
+                            self._connect_module.pq.__build_version__
+                        )
+
                     commenter_data = {
                         # Psycopg2/framework information
                         "db_driver": f"psycopg2:{self._connect_module.__version__.split(' ')[0]}",
                         "dbapi_threadsafety": self._connect_module.threadsafety,
                         "dbapi_level": self._connect_module.apilevel,
-                        "libpq_version": self._connect_module.__libpq_version__,
+                        "libpq_version": libpq_version,
                         "driver_paramstyle": self._connect_module.paramstyle,
                     }
                     if self._commenter_options.get(
diff --git a/instrumentation/opentelemetry-instrumentation-dbapi/tests/test_dbapi_integration.py b/instrumentation/opentelemetry-instrumentation-dbapi/tests/test_dbapi_integration.py
index 0d19ce8373..d0835e93e6 100644
--- a/instrumentation/opentelemetry-instrumentation-dbapi/tests/test_dbapi_integration.py
+++ b/instrumentation/opentelemetry-instrumentation-dbapi/tests/test_dbapi_integration.py
@@ -275,6 +275,32 @@ def test_executemany_comment(self):
             r"Select 1 /\*dbapi_threadsafety=123,driver_paramstyle='test',libpq_version=123,traceparent='\d{1,2}-[a-zA-Z0-9_]{32}-[a-zA-Z0-9_]{16}-\d{1,2}'\*/;",
         )
 
+    def test_compatible_build_version_psycopg_psycopg2_libpq(self):
+        connect_module = mock.MagicMock()
+        connect_module.__version__ = mock.MagicMock()
+        connect_module.pq = mock.MagicMock()
+        connect_module.pq.__build_version__ = 123
+        connect_module.apilevel = 123
+        connect_module.threadsafety = 123
+        connect_module.paramstyle = "test"
+
+        db_integration = dbapi.DatabaseApiIntegration(
+            "testname",
+            "testcomponent",
+            enable_commenter=True,
+            commenter_options={"db_driver": False, "dbapi_level": False},
+            connect_module=connect_module,
+        )
+        mock_connection = db_integration.wrapped_connection(
+            mock_connect, {}, {}
+        )
+        cursor = mock_connection.cursor()
+        cursor.executemany("Select 1;")
+        self.assertRegex(
+            cursor.query,
+            r"Select 1 /\*dbapi_threadsafety=123,driver_paramstyle='test',libpq_version=123,traceparent='\d{1,2}-[a-zA-Z0-9_]{32}-[a-zA-Z0-9_]{16}-\d{1,2}'\*/;",
+        )
+
     def test_executemany_flask_integration_comment(self):
         connect_module = mock.MagicMock()
         connect_module.__version__ = mock.MagicMock()