diff --git a/django/db/models/sql/query.py b/django/db/models/sql/query.py
index 187349a460..20dbf7cfaa 100644
--- a/django/db/models/sql/query.py
+++ b/django/db/models/sql/query.py
@@ -10,7 +10,9 @@ all about the internals of models in order to get the information it needs.
 import copy
 import difflib
 import functools
+import inspect
 import sys
+import warnings
 from collections import Counter, namedtuple
 from collections.abc import Iterator, Mapping
 from itertools import chain, count, product
@@ -42,12 +44,17 @@ from django.db.models.query_utils import (
 from django.db.models.sql.constants import INNER, LOUTER, ORDER_DIR, SINGLE
 from django.db.models.sql.datastructures import BaseTable, Empty, Join, MultiJoin
 from django.db.models.sql.where import AND, OR, ExtraWhere, NothingNode, WhereNode
+from django.utils.deprecation import RemovedInDjango70Warning
 from django.utils.functional import cached_property
 from django.utils.regex_helper import _lazy_re_compile
 from django.utils.tree import Node
 
 __all__ = ["Query", "RawQuery"]
 
+# RemovedInDjango70Warning: When the deprecation ends, replace with:
+# Quotation marks ('"`[]), whitespace characters, semicolons, percent signs
+# or inline SQL comments are forbidden in column aliases.
+# FORBIDDEN_ALIAS_PATTERN = _lazy_re_compile(r"['`\"\]\[;\s]|%|--|/\*|\*/")
 # Quotation marks ('"`[]), whitespace characters, semicolons, or inline
 # SQL comments are forbidden in column aliases.
 FORBIDDEN_ALIAS_PATTERN = _lazy_re_compile(r"['`\"\]\[;\s]|--|/\*|\*/")
@@ -1206,9 +1213,23 @@ class Query(BaseExpression):
         return alias or seen[None]
 
     def check_alias(self, alias):
+        # RemovedInDjango70Warning: When the deprecation ends, remove.
+        if "%" in alias:
+            if "aggregate" in {frame.function for frame in inspect.stack()}:
+                stacklevel = 5
+            else:
+                # annotate() and alias().
+                stacklevel = 6
+            warnings.warn(
+                "Using percent signs in a column alias is deprecated.",
+                stacklevel=stacklevel,
+                category=RemovedInDjango70Warning,
+            )
         if FORBIDDEN_ALIAS_PATTERN.search(alias):
             raise ValueError(
                 "Column aliases cannot contain whitespace characters, quotation marks, "
+                # RemovedInDjango70Warning: When the deprecation ends, replace with:
+                # "semicolons, percent signs, or SQL comments."
                 "semicolons, or SQL comments."
             )
 
diff --git a/docs/internals/deprecation.txt b/docs/internals/deprecation.txt
index e6db513dae..fb37d43849 100644
--- a/docs/internals/deprecation.txt
+++ b/docs/internals/deprecation.txt
@@ -28,6 +28,9 @@ details on these changes.
 
 * The ``URLIZE_ASSUME_HTTPS`` transitional setting will be removed.
 
+* Using a percent sign in a column alias or annotation will raise
+  ``ValueError``.
+
 * Support for setting the ``ADMINS`` or ``MANAGERS`` settings to a list of
   (name, address) tuples will be removed.
 
diff --git a/docs/releases/6.0.txt b/docs/releases/6.0.txt
index 362ea70ea0..304343256f 100644
--- a/docs/releases/6.0.txt
+++ b/docs/releases/6.0.txt
@@ -375,6 +375,8 @@ Miscellaneous
   ``per_page`` argument of :class:`django.core.paginator.Paginator` and
   :class:`django.core.paginator.AsyncPaginator` is deprecated.
 
+* Using a percent sign in a column alias or annotation is deprecated.
+
 Features removed in 6.0
 =======================
 
diff --git a/tests/annotations/tests.py b/tests/annotations/tests.py
index 6c0d7b668c..eb077fcb57 100644
--- a/tests/annotations/tests.py
+++ b/tests/annotations/tests.py
@@ -39,6 +39,7 @@ from django.db.models.functions import (
 from django.db.models.sql.query import get_field_names_from_opts
 from django.test import TestCase, skipUnlessDBFeature
 from django.test.utils import register_lookup
+from django.utils.deprecation import RemovedInDjango70Warning
 
 from .models import (
     Author,
@@ -1157,6 +1158,11 @@ class NonAggregateAnnotationTestCase(TestCase):
 
     def test_alias_sql_injection(self):
         crafted_alias = """injected_name" from "annotations_book"; --"""
+        # RemovedInDjango70Warning: When the deprecation ends, replace with:
+        # msg = (
+        #    "Column aliases cannot contain whitespace characters, quotation marks, "
+        #    "semicolons, percent signs, or SQL comments."
+        # )
         msg = (
             "Column aliases cannot contain whitespace characters, quotation marks, "
             "semicolons, or SQL comments."
@@ -1176,10 +1182,17 @@ class NonAggregateAnnotationTestCase(TestCase):
             "ali/*as",
             "alias*/",
             "alias;",
+            # RemovedInDjango70Warning: When the deprecation ends, add this case.
+            # "alias%",
             # [] are used by MSSQL.
             "alias[",
             "alias]",
         ]
+        # RemovedInDjango70Warning: When the deprecation ends, replace with:
+        # msg = (
+        #    "Column aliases cannot contain whitespace characters, quotation marks, "
+        #    "semicolons, percent signs, or SQL comments."
+        # )
         msg = (
             "Column aliases cannot contain whitespace characters, quotation marks, "
             "semicolons, or SQL comments."
@@ -1189,6 +1202,11 @@ class NonAggregateAnnotationTestCase(TestCase):
                 with self.assertRaisesMessage(ValueError, msg):
                     Book.objects.annotate(**{crafted_alias: Value(1)})
 
+    def test_alias_containing_percent_sign_deprecation(self):
+        msg = "Using percent signs in a column alias is deprecated."
+        with self.assertRaisesMessage(RemovedInDjango70Warning, msg):
+            Book.objects.annotate(**{"alias%": Value(1)})
+
     @skipUnless(connection.vendor == "postgresql", "PostgreSQL tests")
     @skipUnlessDBFeature("supports_json_field")
     def test_set_returning_functions(self):
@@ -1476,6 +1494,11 @@ class AliasTests(TestCase):
 
     def test_alias_sql_injection(self):
         crafted_alias = """injected_name" from "annotations_book"; --"""
+        # RemovedInDjango70Warning: When the deprecation ends, replace with:
+        # msg = (
+        #    "Column aliases cannot contain whitespace characters, quotation marks, "
+        #    "semicolons, percent signs, or SQL comments."
+        # )
         msg = (
             "Column aliases cannot contain whitespace characters, quotation marks, "
             "semicolons, or SQL comments."