diff --git a/lib/sentry/client_report.ex b/lib/sentry/client_report.ex
index 4552b010..2649f37b 100644
--- a/lib/sentry/client_report.ex
+++ b/lib/sentry/client_report.ex
@@ -27,7 +27,8 @@ defmodule Sentry.ClientReport do
     :insufficient_data,
     :backpressure,
     :send_error,
-    :internal_sdk_error
+    :internal_sdk_error,
+    :ignored
   ]
 
   @typedoc """
diff --git a/lib/sentry/config.ex b/lib/sentry/config.ex
index 8a98e673..bd050e24 100644
--- a/lib/sentry/config.ex
+++ b/lib/sentry/config.ex
@@ -340,6 +340,24 @@ defmodule Sentry.Config do
       This value is also used to determine if tracing is enabled: if it's not `nil`, tracing is enabled.
       """
     ],
+    traces_ignore_http_status_codes: [
+      type: {:custom, __MODULE__, :__validate_traces_ignore_http_status_codes__, []},
+      default: [404],
+      type_doc: "list of `t:integer/0` or `t:Range.t/0`",
+      doc: """
+      HTTP statuses to keep out of tracing. An incoming request answered with one of these
+      is not reported as a transaction, and neither is any work that outlives it. Takes
+      status codes and ranges, like `[404, 500..599]`.
+
+      Defaults to `[404]`, so *404 Not Found* requests are not traced. Set it to `[]` to
+      trace them again.
+
+      Outgoing requests are not affected, and the trace is still propagated to the services
+      this one calls.
+
+      *Available since 14.0.0*.
+      """
+    ],
     included_environments: [
       type: {:or, [{:in, [:all]}, {:list, {:or, [:atom, :string]}}]},
       deprecated: "Use :dsn to control whether to send events to Sentry.",
@@ -1084,6 +1102,9 @@ defmodule Sentry.Config do
   @spec traces_sampler() :: traces_sampler_function() | nil
   def traces_sampler, do: get(:traces_sampler)
 
+  @spec traces_ignore_http_status_codes() :: [integer() | Range.t()]
+  def traces_ignore_http_status_codes, do: fetch!(:traces_ignore_http_status_codes)
+
   @spec finch_pool_opts() :: keyword()
   def finch_pool_opts, do: fetch!(:finch_pool_opts)
 
@@ -1436,6 +1457,26 @@ defmodule Sentry.Config do
      "expected :traces_sampler to be nil, a function with arity 1, or a {module, function} tuple, got: #{inspect(other)}"}
   end
 
+  def __validate_traces_ignore_http_status_codes__(codes) when is_list(codes) do
+    case Enum.reject(codes, &valid_trace_status_code?/1) do
+      [] -> {:ok, codes}
+      [invalid | _rest] -> invalid_trace_status_code_error(invalid)
+    end
+  end
+
+  def __validate_traces_ignore_http_status_codes__(other) do
+    invalid_trace_status_code_error(other)
+  end
+
+  defp valid_trace_status_code?(%Range{}), do: true
+  defp valid_trace_status_code?(code) when is_integer(code), do: true
+  defp valid_trace_status_code?(_other), do: false
+
+  defp invalid_trace_status_code_error(value) do
+    {:error,
+     "expected :traces_ignore_http_status_codes to be a list of status codes and ranges, got: #{inspect(value)}"}
+  end
+
   def __validate_json_library__(nil) do
     {:error, "nil is not a valid value for the :json_library option"}
   end
diff --git a/lib/sentry/opentelemetry/span_processor.ex b/lib/sentry/opentelemetry/span_processor.ex
index c162e247..888ab31e 100644
--- a/lib/sentry/opentelemetry/span_processor.ex
+++ b/lib/sentry/opentelemetry/span_processor.ex
@@ -10,7 +10,7 @@ if Sentry.OpenTelemetry.VersionChecker.tracing_compatible?() do
     alias OpenTelemetry.SemConv.Incubating.URLAttributes, as: URLAttributes
     require OpenTelemetry.SemConv.Incubating.MessagingAttributes, as: MessagingAttributes
 
-    alias Sentry.{ClientError, LoggerUtils}
+    alias Sentry.{ClientError, ClientReport, Config, LoggerUtils}
 
     alias Sentry.{Transaction, OpenTelemetry.SpanStorage, OpenTelemetry.SpanRecord}
     alias Sentry.Interfaces.Span
@@ -83,13 +83,16 @@ if Sentry.OpenTelemetry.VersionChecker.tracing_compatible?() do
 
         # No parent = definitely a root
         span_record.parent_span_id == nil ->
-          build_and_send_transaction(span_record)
+          finalize_transaction(span_record)
+
+        SpanStorage.span_excluded?(span_record.parent_span_id) ->
+          finalize_transaction(span_record, parent_already_sent?: true, excluded?: true)
 
         # The parent's transaction was already sent, so this span cannot be
         # attached to it anymore - report it as a follow-up transaction of
         # the same trace instead
         SpanStorage.span_sent?(span_record.parent_span_id) ->
-          build_and_send_transaction(span_record, parent_already_sent?: true)
+          finalize_transaction(span_record, parent_already_sent?: true)
 
         # Parent exists locally - this is a child span, not a transaction root
         has_local_parent_span?(span_record.parent_span_id) ->
@@ -103,12 +106,12 @@ if Sentry.OpenTelemetry.VersionChecker.tracing_compatible?() do
         # Compared to true explicitly because the field is :undefined for
         # parentless spans, which is truthy.
         span_record.parent_span_is_remote == true ->
-          build_and_send_transaction(span_record)
+          finalize_transaction(span_record)
 
         # Parent is remote (distributed tracing) - treat server spans as
         # transaction roots
         server_span?(span_record) ->
-          build_and_send_transaction(span_record)
+          finalize_transaction(span_record)
 
         true ->
           LoggerUtils.debug(fn ->
@@ -148,7 +151,7 @@ if Sentry.OpenTelemetry.VersionChecker.tracing_compatible?() do
       Map.get(attributes, to_string(MessagingAttributes.messaging_system())) == :oban
     end
 
-    defp build_and_send_transaction(span_record, opts \\ []) do
+    defp finalize_transaction(span_record, opts \\ []) do
       # Children still running when the root ends are excluded from the
       # payload: a reported span must have an end timestamp. Their records
       # stay in storage until they finish.
@@ -157,8 +160,6 @@ if Sentry.OpenTelemetry.VersionChecker.tracing_compatible?() do
         |> SpanStorage.get_child_spans()
         |> Enum.filter(& &1.end_time)
 
-      transaction = build_transaction(span_record, child_span_records, opts)
-
       # Every span of the transaction gets a marker - late spans may continue
       # the trace from any of them, not just the root. Markers must precede
       # the send: a span ending while the send is in flight must already see
@@ -166,30 +167,15 @@ if Sentry.OpenTelemetry.VersionChecker.tracing_compatible?() do
       # was finalized locally - not that delivery succeeded - since once the
       # records are removed below, later spans can never be attached to this
       # transaction either way.
-      sent_span_ids = [span_record.span_id | Enum.map(child_span_records, & &1.span_id)]
-      :ok = SpanStorage.mark_spans_sent(sent_span_ids)
+      finalized_span_ids = [span_record.span_id | Enum.map(child_span_records, & &1.span_id)]
 
       result =
-        case Sentry.send_transaction(transaction) do
-          {:ok, _id} ->
-            true
-
-          :ignored ->
-            true
-
-          :excluded ->
-            true
-
-          {:error, %ClientError{reason: :rate_limited} = error} ->
-            LoggerUtils.debug(fn ->
-              "Failed to send transaction to Sentry: #{inspect(error)}"
-            end)
-
-            {:error, :invalid_span}
-
-          {:error, error} ->
-            LoggerUtils.log(fn -> "Failed to send transaction to Sentry: #{inspect(error)}" end)
-            {:error, :invalid_span}
+        if Keyword.get(opts, :excluded?, false) or ignored_response_status?(span_record) do
+          :ok = SpanStorage.mark_spans_excluded(finalized_span_ids)
+          discard_transaction(build_transaction(span_record, child_span_records, opts))
+        else
+          :ok = SpanStorage.mark_spans_sent(finalized_span_ids)
+          send_transaction(build_transaction(span_record, child_span_records, opts))
         end
 
       :ok =
@@ -201,6 +187,53 @@ if Sentry.OpenTelemetry.VersionChecker.tracing_compatible?() do
       result
     end
 
+    # Only incoming requests are matched. An outgoing call can become a
+    # transaction root of its own when it outlives the request that made it,
+    # and the option is not meant to drop those.
+    defp ignored_response_status?(%{kind: :server, attributes: attributes}) do
+      case Map.get(attributes, to_string(HTTPAttributes.http_response_status_code())) do
+        status when is_integer(status) ->
+          Enum.any?(Config.traces_ignore_http_status_codes(), &status_matches?(&1, status))
+
+        _other ->
+          false
+      end
+    end
+
+    defp ignored_response_status?(_span_record), do: false
+
+    defp status_matches?(%Range{} = range, status), do: status in range
+    defp status_matches?(code, status), do: code == status
+
+    defp discard_transaction(transaction) do
+      ClientReport.Sender.record_discarded_events(:ignored, [transaction])
+      true
+    end
+
+    defp send_transaction(transaction) do
+      case Sentry.send_transaction(transaction) do
+        {:ok, _id} ->
+          true
+
+        :ignored ->
+          true
+
+        :excluded ->
+          true
+
+        {:error, %ClientError{reason: :rate_limited} = error} ->
+          LoggerUtils.debug(fn ->
+            "Failed to send transaction to Sentry: #{inspect(error)}"
+          end)
+
+          {:error, :invalid_span}
+
+        {:error, error} ->
+          LoggerUtils.log(fn -> "Failed to send transaction to Sentry: #{inspect(error)}" end)
+          {:error, :invalid_span}
+      end
+    end
+
     defp build_transaction(root_span_record, child_span_records, opts) do
       root_span = build_span(root_span_record)
       child_spans = Enum.map(child_span_records, &build_span(&1))
diff --git a/lib/sentry/opentelemetry/span_storage.ex b/lib/sentry/opentelemetry/span_storage.ex
index 4a313b39..a36e539c 100644
--- a/lib/sentry/opentelemetry/span_storage.ex
+++ b/lib/sentry/opentelemetry/span_storage.ex
@@ -63,10 +63,19 @@ if Sentry.OpenTelemetry.VersionChecker.tracing_compatible?() do
 
     @spec mark_spans_sent([String.t()], keyword()) :: :ok
     def mark_spans_sent(span_ids, opts \\ []) do
+      mark_spans(span_ids, :sent, opts)
+    end
+
+    @spec mark_spans_excluded([String.t()], keyword()) :: :ok
+    def mark_spans_excluded(span_ids, opts \\ []) do
+      mark_spans(span_ids, :excluded, opts)
+    end
+
+    defp mark_spans(span_ids, outcome, opts) do
       table_name = Keyword.get(opts, :table_name, default_table_name())
       stored_at = System.system_time(:second)
 
-      :ets.insert(table_name, Enum.map(span_ids, &{{:sent_span, &1}, stored_at}))
+      :ets.insert(table_name, Enum.map(span_ids, &{{:sent_span, &1}, stored_at, outcome}))
 
       :ok
     end
@@ -78,6 +87,16 @@ if Sentry.OpenTelemetry.VersionChecker.tracing_compatible?() do
       :ets.member(table_name, {:sent_span, span_id})
     end
 
+    @spec span_excluded?(String.t(), keyword()) :: boolean()
+    def span_excluded?(span_id, opts \\ []) do
+      table_name = Keyword.get(opts, :table_name, default_table_name())
+
+      case :ets.lookup(table_name, {:sent_span, span_id}) do
+        [{{:sent_span, ^span_id}, _stored_at, :excluded}] -> true
+        _other -> false
+      end
+    end
+
     @doc """
     Retrieves a span by its ID, regardless of whether it's a root or child span.
     Returns nil if the span is not found.
@@ -243,7 +262,7 @@ if Sentry.OpenTelemetry.VersionChecker.tracing_compatible?() do
       sent_cutoff_time = now - @sent_span_ttl
 
       sent_match_spec = [
-        {{{:sent_span, :_}, :"$1"}, [{:<, :"$1", sent_cutoff_time}], [true]}
+        {{{:sent_span, :_}, :"$1", :_}, [{:<, :"$1", sent_cutoff_time}], [true]}
       ]
 
       :ets.select_delete(table_name, sent_match_spec)
diff --git a/test/sentry/config_test.exs b/test/sentry/config_test.exs
index 3a96f9f6..969c2419 100644
--- a/test/sentry/config_test.exs
+++ b/test/sentry/config_test.exs
@@ -83,6 +83,16 @@ defmodule Sentry.ConfigTest do
       end
     end
 
+    test ":traces_ignore_http_status_codes rejects anything that is not a status code or a range" do
+      assert_raise ArgumentError,
+                   ~r/expected :traces_ignore_http_status_codes to be a list of status codes and ranges, got: "404"/,
+                   fn -> Config.validate!(traces_ignore_http_status_codes: [404, "404"]) end
+
+      assert_raise ArgumentError,
+                   ~r/expected :traces_ignore_http_status_codes to be a list of status codes and ranges, got: 404/,
+                   fn -> Config.validate!(traces_ignore_http_status_codes: 404) end
+    end
+
     test ":logs is nil by default" do
       assert Config.validate!([])[:logs] == nil
       assert Config.validate!(logs: nil)[:logs] == nil
diff --git a/test/sentry/opentelemetry/span_storage_test.exs b/test/sentry/opentelemetry/span_storage_test.exs
index 6bfcd108..88aaa635 100644
--- a/test/sentry/opentelemetry/span_storage_test.exs
+++ b/test/sentry/opentelemetry/span_storage_test.exs
@@ -360,7 +360,7 @@ defmodule Sentry.OpenTelemetry.SpanStorageTest do
     @tag span_storage: true
     test "markers expire after their TTL", %{table_name: table_name, server_name: server_name} do
       old_time = System.system_time(:second) - 6 * 60
-      :ets.insert(table_name, {{:sent_span, "old_marker"}, old_time})
+      :ets.insert(table_name, {{:sent_span, "old_marker"}, old_time, :sent})
 
       SpanStorage.mark_spans_sent(["fresh_marker"], table_name: table_name)
 
diff --git a/test_integrations/phoenix_app/lib/phoenix_app_web/controllers/response_status_controller.ex b/test_integrations/phoenix_app/lib/phoenix_app_web/controllers/response_status_controller.ex
new file mode 100644
index 00000000..af004383
--- /dev/null
+++ b/test_integrations/phoenix_app/lib/phoenix_app_web/controllers/response_status_controller.ex
@@ -0,0 +1,48 @@
+defmodule PhoenixAppWeb.ResponseStatusController do
+  use PhoenixAppWeb, :controller
+
+  require OpenTelemetry.Tracer, as: Tracer
+
+  alias OpenTelemetry.SemConv.Incubating.HTTPAttributes
+
+  def show(conn, %{"status" => status} = params) do
+    start_upstream_call(params["test_process"], params["upstream_status"])
+
+    conn
+    |> put_status(String.to_integer(status))
+    |> json(%{status: status})
+  end
+
+  defp start_upstream_call(nil, _upstream_status), do: :ok
+
+  defp start_upstream_call(test_process, upstream_status) do
+    notify = String.to_existing_atom(test_process)
+    ctx = :otel_ctx.get_current()
+
+    {:ok, _pid} =
+      Task.start(fn ->
+        token = :otel_ctx.attach(ctx)
+
+        try do
+          Tracer.with_span "GET /upstream", %{
+            kind: :client,
+            attributes: %{
+              HTTPAttributes.http_response_status_code() => String.to_integer(upstream_status)
+            }
+          } do
+            send(notify, {:upstream_call, self()})
+
+            receive do
+              :finish_upstream_call -> :ok
+            end
+          end
+
+          send(notify, :upstream_call_finished)
+        after
+          :otel_ctx.detach(token)
+        end
+      end)
+
+    :ok
+  end
+end
diff --git a/test_integrations/phoenix_app/lib/phoenix_app_web/router.ex b/test_integrations/phoenix_app/lib/phoenix_app_web/router.ex
index 977df461..0e4ba353 100644
--- a/test_integrations/phoenix_app/lib/phoenix_app_web/router.ex
+++ b/test_integrations/phoenix_app/lib/phoenix_app_web/router.ex
@@ -72,6 +72,7 @@ defmodule PhoenixAppWeb.Router do
     post "/function-clause-error-cleared", PageController, :function_clause_error_cleared
     post "/generic-clause-error", PageController, :generic_clause_error
     post "/checkout", PageController, :checkout
+    get "/responses/:status", ResponseStatusController, :show
     get "/api/data", PageController, :api_data
     post "/api/oban-job", PageController, :api_oban_job
     put "/sentry-test-config", TestConfigController, :update
diff --git a/test_integrations/phoenix_app/test/phoenix_app/ignored_status_traces_test.exs b/test_integrations/phoenix_app/test/phoenix_app/ignored_status_traces_test.exs
new file mode 100644
index 00000000..9807ff35
--- /dev/null
+++ b/test_integrations/phoenix_app/test/phoenix_app/ignored_status_traces_test.exs
@@ -0,0 +1,133 @@
+defmodule PhoenixApp.IgnoredStatusTracesTest do
+  use ExUnit.Case, async: false
+
+  import Sentry.TestHelpers
+
+  @port 4102
+  @base_url "http://localhost:#{@port}"
+
+  setup do
+    start_supervised!({Bandit, plug: PhoenixAppWeb.Endpoint, scheme: :http, port: @port})
+    Sentry.Test.setup_sentry(collect_envelopes: true, traces_sample_rate: 1.0)
+  end
+
+  test "a request answered with an ignored status is not traced", %{ref: ref} do
+    put_test_config(traces_ignore_http_status_codes: [410])
+
+    assert request("/responses/410") == 410
+    assert request("/responses/200") == 200
+
+    assert traced_paths(ref) == ["/responses/200"]
+  end
+
+  test "a request answered with 404 is not traced by default", %{ref: ref} do
+    assert request("/responses/404") == 404
+    assert request("/responses/200") == 200
+
+    assert traced_paths(ref) == ["/responses/200"]
+  end
+
+  test "a request answered with 404 is traced when no status is ignored", %{ref: ref} do
+    put_test_config(traces_ignore_http_status_codes: [])
+
+    assert request("/responses/404") == 404
+
+    assert traced_paths(ref) == ["/responses/404"]
+  end
+
+  test "a request answered with a status inside an ignored range is not traced", %{ref: ref} do
+    put_test_config(traces_ignore_http_status_codes: [500..599])
+
+    assert request("/responses/503") == 503
+    assert request("/responses/404") == 404
+
+    assert traced_paths(ref) == ["/responses/404"]
+  end
+
+  test "work outliving a request answered with an ignored status is not traced", %{ref: ref} do
+    put_test_config(traces_ignore_http_status_codes: [410])
+    test_process = register_test_process()
+
+    assert request("/responses/410?test_process=#{test_process}&upstream_status=200") == 410
+    assert reported_transactions(ref) == []
+
+    finish_upstream_call()
+
+    assert reported_transactions(ref) == []
+  end
+
+  test "an outgoing call answered with an ignored status outliving its request is traced", %{
+    ref: ref
+  } do
+    put_test_config(traces_ignore_http_status_codes: [410])
+    test_process = register_test_process()
+
+    assert request("/responses/200?test_process=#{test_process}&upstream_status=410") == 200
+    assert traced_paths(ref) == ["/responses/200"]
+
+    finish_upstream_call()
+
+    assert [upstream_tx] = reported_transactions(ref)
+    assert upstream_tx["transaction"] == "GET /upstream"
+  end
+
+  test "a request answered with an ignored status is reported as discarded telemetry", %{
+    ref: ref,
+    client_report_sender: sender
+  } do
+    put_test_config(traces_ignore_http_status_codes: [410])
+
+    assert request("/responses/410") == 410
+    assert reported_transactions(ref) == []
+
+    assert discarded_outcomes(sender, ref, "ignored") == %{"transaction" => 1, "span" => 1}
+  end
+
+  defp request(path) do
+    {:ok, {{_version, status, _reason}, _headers, _body}} =
+      :httpc.request(:get, {String.to_charlist(@base_url <> path), []}, [], [])
+
+    status
+  end
+
+  defp register_test_process do
+    name = :"ignored_status_traces_#{System.unique_integer([:positive])}"
+    Process.register(self(), name)
+    name
+  end
+
+  defp finish_upstream_call do
+    assert_receive {:upstream_call, upstream_pid}, 1000
+    send(upstream_pid, :finish_upstream_call)
+    assert_receive :upstream_call_finished, 1000
+  end
+
+  defp reported_transactions(ref) do
+    collect_sentry_transactions(ref, 100, timeout: 1000)
+  end
+
+  defp traced_paths(ref) do
+    Enum.map(reported_transactions(ref), & &1["contexts"]["trace"]["data"]["url.path"])
+  end
+
+  defp discarded_outcomes(sender, ref, reason) do
+    :ok = Sentry.ClientReport.Sender.flush(sender)
+
+    for outcome <- await_client_report(ref)["discarded_events"],
+        outcome["reason"] == reason,
+        into: %{},
+        do: {outcome["category"], outcome["quantity"]}
+  end
+
+  defp await_client_report(ref) do
+    receive do
+      {:bypass_envelope, ^ref, body} ->
+        case decode_envelope!(body) do
+          [{%{"type" => "client_report"}, client_report}] -> client_report
+          _other -> await_client_report(ref)
+        end
+    after
+      2000 -> flunk("no client report envelope received")
+    end
+  end
+end