diff --git a/CHANGES b/CHANGES
index 4e98b2c8ab4..df5dd0afa78 100644
--- a/CHANGES
+++ b/CHANGES
@@ -38,6 +38,8 @@ Bugs fixed
 * #9456: html search: abbreation marks are inserted to the search result if
   failed to fetch the content of the page
 * #9267: html theme: CSS and JS files added by theme were loaded twice
+* #9585: py domain: ``:type:`` option for :rst:`dir:`py:property` directive does
+  not create a hyperlink
 * #9535 comment: C++, fix parsing of defaulted function parameters that are
   function pointers.
 * #9564: smartquotes: don't adjust typography for text with
diff --git a/sphinx/domains/python.py b/sphinx/domains/python.py
index e8330e81cf5..9875a9f4b65 100644
--- a/sphinx/domains/python.py
+++ b/sphinx/domains/python.py
@@ -861,7 +861,8 @@ def handle_signature(self, sig: str, signode: desc_signature) -> Tuple[str, str]
 
         typ = self.options.get('type')
         if typ:
-            signode += addnodes.desc_annotation(typ, ': ' + typ)
+            annotations = _parse_annotation(typ, self.env)
+            signode += addnodes.desc_annotation(typ, '', nodes.Text(': '), *annotations)
 
         return fullname, prefix