diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6032f41ce522..69e8776ad92f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -17,6 +17,7 @@ Compatibility:
 * Warn when a global variable is not initialized (#2595, @andrykonchin).
 * Fix escaping of `/` by `Regexp#source` (#2569, @andrykonchin).
 * Range literals of integers are now created at parse time like in CRuby (#2622, @aardvark179).
+* Fix `IO.pipe` - allow overriding `IO.new` that is used to create new pipes (#2692, @andykonchin).
 
 Performance:
 
diff --git a/spec/ruby/core/io/fixtures/classes.rb b/spec/ruby/core/io/fixtures/classes.rb
index 067ab59d9301..204a2a101b00 100644
--- a/spec/ruby/core/io/fixtures/classes.rb
+++ b/spec/ruby/core/io/fixtures/classes.rb
@@ -7,6 +7,18 @@ module IOSpecs
   class SubIO < IO
   end
 
+  class SubIOWithRedefinedNew < IO
+    def self.new(...)
+      ScratchPad << :redefined_new_called
+      super
+    end
+
+    def initialize(...)
+      ScratchPad << :call_original_initialize
+      super
+    end
+  end
+
   def self.collector
     Proc.new { |x| ScratchPad << x }
   end
diff --git a/spec/ruby/core/io/pipe_spec.rb b/spec/ruby/core/io/pipe_spec.rb
index 2f2cf06f4d32..aee0d9003f4e 100644
--- a/spec/ruby/core/io/pipe_spec.rb
+++ b/spec/ruby/core/io/pipe_spec.rb
@@ -25,6 +25,17 @@
     @r.should be_an_instance_of(IOSpecs::SubIO)
     @w.should be_an_instance_of(IOSpecs::SubIO)
   end
+
+  it "does not use IO.new method to create pipes and allows its overriding" do
+    ScratchPad.record []
+
+    # so redefined .new is not called, but original #initialize is
+    @r, @w = IOSpecs::SubIOWithRedefinedNew.pipe
+    ScratchPad.recorded.should == [:call_original_initialize, :call_original_initialize] # called 2 times - for each pipe (r and w)
+
+    @r.should be_an_instance_of(IOSpecs::SubIOWithRedefinedNew)
+    @w.should be_an_instance_of(IOSpecs::SubIOWithRedefinedNew)
+  end
 end
 
 describe "IO.pipe" do
diff --git a/src/main/java/org/truffleruby/core/klass/ClassNodes.java b/src/main/java/org/truffleruby/core/klass/ClassNodes.java
index 61029eb8fead..b044af1d9d92 100644
--- a/src/main/java/org/truffleruby/core/klass/ClassNodes.java
+++ b/src/main/java/org/truffleruby/core/klass/ClassNodes.java
@@ -283,7 +283,6 @@ protected RubyClass newSingletonInstance(
         }
     }
 
-
     @CoreMethod(names = "initialize", optional = 1)
     public abstract static class InitializeNode extends CoreMethodArrayArgumentsNode {
         @Specialization
diff --git a/src/main/ruby/truffleruby/core/truffle/io_operations.rb b/src/main/ruby/truffleruby/core/truffle/io_operations.rb
index ce3187969131..de961c6a708b 100644
--- a/src/main/ruby/truffleruby/core/truffle/io_operations.rb
+++ b/src/main/ruby/truffleruby/core/truffle/io_operations.rb
@@ -99,6 +99,8 @@ def self.pipe_end_setup(io)
       io
     end
 
+    CLASS_NEW = Class.instance_method(:new)
+
     def self.create_pipe(read_class, write_class, external = nil, internal = nil, options = nil)
       fds = Truffle::FFI::MemoryPointer.new(:int, 2) do |ptr|
         res = Truffle::POSIX.pipe(ptr)
@@ -106,8 +108,8 @@ def self.create_pipe(read_class, write_class, external = nil, internal = nil, op
         ptr.read_array_of_int(2)
       end
 
-      lhs = pipe_end_setup(read_class.new(fds[0], IO::RDONLY))
-      rhs = pipe_end_setup(write_class.new(fds[1], IO::WRONLY))
+      lhs = pipe_end_setup(CLASS_NEW.bind_call(read_class, fds[0], IO::RDONLY))
+      rhs = pipe_end_setup(CLASS_NEW.bind_call(write_class, fds[1], IO::WRONLY))
 
       lhs.set_encoding external || Encoding.default_external,
                        internal || Encoding.default_internal, options