diff --git a/CHANGELOG.md b/CHANGELOG.md
index 130cfdad2da8..1deaa173c2f5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,7 @@
 
 ### Fixes
 
+- `[expect]` [**BREAKING**] Revise `expect.not.objectContaining()` to be the inverse of `expect.objectContaining()`, as documented. ([#10708](https://github.com/facebook/jest/pull/10708))
 - `[jest-resolve]` Replace read-pkg-up with escalade package ([#10781](https://github.com/facebook/jest/pull/10781))
 - `[jest-runtime]` [**BREAKING**] Do not inject `global` variable into module wrapper ([#10644](https://github.com/facebook/jest/pull/10644))
 - `[jest-runtime]` [**BREAKING**] remove long-deprecated `jest.addMatchers`, `jest.resetModuleRegistry`, and `jest.runTimersToTime` ([#9853](https://github.com/facebook/jest/pull/9853))
diff --git a/packages/expect/src/__tests__/asymmetricMatchers.test.ts b/packages/expect/src/__tests__/asymmetricMatchers.test.ts
index 6e1886b65409..ec48bc73a624 100644
--- a/packages/expect/src/__tests__/asymmetricMatchers.test.ts
+++ b/packages/expect/src/__tests__/asymmetricMatchers.test.ts
@@ -225,10 +225,21 @@ test('ObjectContaining does not mutate the sample', () => {
 
 test('ObjectNotContaining matches', () => {
   [
-    objectNotContaining({}).asymmetricMatch('jest'),
     objectNotContaining({foo: 'foo'}).asymmetricMatch({bar: 'bar'}),
     objectNotContaining({foo: 'foo'}).asymmetricMatch({foo: 'foox'}),
     objectNotContaining({foo: undefined}).asymmetricMatch({}),
+    objectNotContaining({
+      first: objectNotContaining({second: {}}),
+    }).asymmetricMatch({first: {second: {}}}),
+    objectNotContaining({first: {second: {}, third: {}}}).asymmetricMatch({
+      first: {second: {}},
+    }),
+    objectNotContaining({first: {second: {}}}).asymmetricMatch({
+      first: {second: {}, third: {}},
+    }),
+    objectNotContaining({foo: 'foo', jest: 'jest'}).asymmetricMatch({
+      foo: 'foo',
+    }),
   ].forEach(test => {
     jestExpect(test).toEqual(true);
   });
@@ -236,19 +247,43 @@ test('ObjectNotContaining matches', () => {
 
 test('ObjectNotContaining does not match', () => {
   [
+    objectNotContaining({}).asymmetricMatch('jest'),
     objectNotContaining({foo: 'foo'}).asymmetricMatch({
       foo: 'foo',
       jest: 'jest',
     }),
     objectNotContaining({foo: undefined}).asymmetricMatch({foo: undefined}),
+    objectNotContaining({first: {second: {}}}).asymmetricMatch({
+      first: {second: {}},
+    }),
     objectNotContaining({
-      first: objectNotContaining({second: {}}),
+      first: objectContaining({second: {}}),
     }).asymmetricMatch({first: {second: {}}}),
+    objectNotContaining({}).asymmetricMatch(null),
+    objectNotContaining({}).asymmetricMatch({}),
   ].forEach(test => {
     jestExpect(test).toEqual(false);
   });
 });
 
+test('ObjectNotContaining inverts ObjectContaining', () => {
+  [
+    [{}, null],
+    [{foo: 'foo'}, {foo: 'foo', jest: 'jest'}],
+    [{foo: 'foo', jest: 'jest'}, {foo: 'foo'}],
+    [{foo: undefined}, {foo: undefined}],
+    [{foo: undefined}, {}],
+    [{first: {second: {}}}, {first: {second: {}}}],
+    [{first: objectContaining({second: {}})}, {first: {second: {}}}],
+    [{first: objectNotContaining({second: {}})}, {first: {second: {}}}],
+    [{}, {foo: undefined}],
+  ].forEach(([sample, received]) => {
+    jestExpect(objectNotContaining(sample).asymmetricMatch(received)).toEqual(
+      !objectContaining(sample).asymmetricMatch(received),
+    );
+  });
+});
+
 test('ObjectNotContaining throws for non-objects', () => {
   jestExpect(() => objectNotContaining(1337).asymmetricMatch()).toThrow();
 });
diff --git a/packages/expect/src/asymmetricMatchers.ts b/packages/expect/src/asymmetricMatchers.ts
index b20f3052ca97..c906f247e742 100644
--- a/packages/expect/src/asymmetricMatchers.ts
+++ b/packages/expect/src/asymmetricMatchers.ts
@@ -7,7 +7,6 @@
  */
 
 import {equals, fnNameFor, hasProperty, isA, isUndefined} from './jasmineUtils';
-import {emptyObject} from './utils';
 
 export class AsymmetricMatcher<T> {
   protected sample: T;
@@ -162,31 +161,19 @@ class ObjectContaining extends AsymmetricMatcher<Record<string, unknown>> {
       );
     }
 
-    if (this.inverse) {
-      for (const property in this.sample) {
-        if (
-          hasProperty(other, property) &&
-          equals(this.sample[property], other[property]) &&
-          !emptyObject(this.sample[property]) &&
-          !emptyObject(other[property])
-        ) {
-          return false;
-        }
-      }
+    let result = true;
 
-      return true;
-    } else {
-      for (const property in this.sample) {
-        if (
-          !hasProperty(other, property) ||
-          !equals(this.sample[property], other[property])
-        ) {
-          return false;
-        }
+    for (const property in this.sample) {
+      if (
+        !hasProperty(other, property) ||
+        !equals(this.sample[property], other[property])
+      ) {
+        result = false;
+        break;
       }
-
-      return true;
     }
+
+    return this.inverse ? !result : result;
   }
 
   toString() {