diff --git a/include/nanobind/nb_cast.h b/include/nanobind/nb_cast.h
index 3e0dc894..e74ee489 100644
--- a/include/nanobind/nb_cast.h
+++ b/include/nanobind/nb_cast.h
@@ -126,9 +126,11 @@ template <typename T>
 struct type_caster<T, enable_if_t<std::is_arithmetic_v<T> && !is_std_char_v<T>>> {
     NB_INLINE bool from_python(handle src, uint8_t flags, cleanup_list *) noexcept {
         if constexpr (std::is_floating_point_v<T>) {
-            if constexpr (sizeof(T) == 8) {
+            if constexpr (sizeof(T) == sizeof(double)) {
                 // Assume T, double, and Python float are all IEEE 754 binary64
                 return detail::load_f64(src.ptr(), flags, (double *) &value);
+            } else if constexpr (std::is_same_v<T, float>) {
+                return detail::load_f32(src.ptr(), flags, &value);
             } else {
                 double d;
                 if (!detail::load_f64(src.ptr(), flags, &d))
diff --git a/include/nanobind/nb_lib.h b/include/nanobind/nb_lib.h
index 058273e2..3541bce8 100644
--- a/include/nanobind/nb_lib.h
+++ b/include/nanobind/nb_lib.h
@@ -512,6 +512,7 @@ NB_CORE bool load_i32(PyObject *o, uint8_t flags, int32_t *out) noexcept;
 NB_CORE bool load_u32(PyObject *o, uint8_t flags, uint32_t *out) noexcept;
 NB_CORE bool load_i64(PyObject *o, uint8_t flags, int64_t *out) noexcept;
 NB_CORE bool load_u64(PyObject *o, uint8_t flags, uint64_t *out) noexcept;
+NB_CORE bool load_f32(PyObject *o, uint8_t flags, float *out) noexcept;
 NB_CORE bool load_f64(PyObject *o, uint8_t flags, double *out) noexcept;
 
 // ========================================================================
diff --git a/src/common.cpp b/src/common.cpp
index f3565921..e513567c 100644
--- a/src/common.cpp
+++ b/src/common.cpp
@@ -8,6 +8,7 @@
 */
 
 #include <nanobind/nanobind.h>
+#include <limits>
 #include "nb_internals.h"
 
 NAMESPACE_BEGIN(NB_NAMESPACE)
@@ -923,6 +924,40 @@ bool load_f64(PyObject *o, uint8_t flags, double *out) noexcept {
     return false;
 }
 
+bool load_f32(PyObject *o, uint8_t flags, float *out) noexcept {
+    static_assert(std::numeric_limits<float>::is_iec559);
+    static_assert(std::numeric_limits<double>::is_iec559);
+    bool is_float = PyFloat_CheckExact(o);
+    bool convert = flags & (uint8_t) cast_flags::convert;
+
+#if !defined(Py_LIMITED_API)
+    if (NB_LIKELY(is_float)) {
+        double d = PyFloat_AS_DOUBLE(o);
+        float result = static_cast<float>(d);
+        if (convert || static_cast<double>(result) == d || d != d) {
+            *out = result;
+            return true;
+        } else {
+            return false;
+        }
+    }
+#endif
+
+    if (is_float || convert) {
+        double d = PyFloat_AsDouble(o);
+        if (d != -1.0 || !PyErr_Occurred()) {
+            float result = static_cast<float>(d);
+            if (convert || static_cast<double>(result) == d || d != d) {
+                *out = result;
+                return true;
+            }
+        } else {
+            PyErr_Clear();
+        }
+    }
+
+    return false;
+}
 
 #if !defined(Py_LIMITED_API) && !defined(PYPY_VERSION) && PY_VERSION_HEX < 0x030c0000
 // Direct access for compact integers. These functions are
diff --git a/tests/test_functions.cpp b/tests/test_functions.cpp
index 45d182c9..d22a3f64 100644
--- a/tests/test_functions.cpp
+++ b/tests/test_functions.cpp
@@ -258,6 +258,10 @@ NB_MODULE(test_functions_ext, m) {
     m.def("test_21_g", []() { return nb::int_(1.5); });
     m.def("test_21_h", []() { return nb::int_(1e50); });
 
+    // Test floating-point
+    m.def("test_21_dnc", [](double d) { return d + 1.0; }, nb::arg().noconvert());
+    m.def("test_21_fnc", [](float f) { return f + 1.0f; }, nb::arg().noconvert());
+
     // Test capsule wrapper
     m.def("test_22", []() -> void * { return (void*) 1; });
     m.def("test_23", []() -> void * { return nullptr; });
diff --git a/tests/test_functions.py b/tests/test_functions.py
index cbd72235..026a4d1d 100644
--- a/tests/test_functions.py
+++ b/tests/test_functions.py
@@ -253,6 +253,18 @@ def test21_numpy_overloads():
     assert t.test_11_sll(np.int32(5)) == 5
     assert t.test_11_ull(np.int32(5)) == 5
 
+    with pytest.raises(TypeError) as excinfo:
+        t.test_21_dnc(np.float64(21.0))  # Python type is not exactly float
+    assert "incompatible function arguments" in str(excinfo.value)
+    assert t.test_21_dnc(float(np.float64(21.0))) == 22.0
+    assert t.test_21_dnc(float(np.float32(21.0))) == 22.0
+
+    assert t.test_21_fnc(float(np.float32(21.0))) == 22.0
+    with pytest.raises(TypeError) as excinfo:
+        t.test_21_fnc(float(np.float64(21.1)))  # Inexact narrowing to float32
+    assert "incompatible function arguments" in str(excinfo.value)
+    assert t.test_21_fnc(float(np.float32(21.1))) == np.float32(22.1)
+
 
 def test22_string_return():
     assert t.test_12("hello") == "hello"
diff --git a/tests/test_functions_ext.pyi.ref b/tests/test_functions_ext.pyi.ref
index 3a025ba1..b8d3298b 100644
--- a/tests/test_functions_ext.pyi.ref
+++ b/tests/test_functions_ext.pyi.ref
@@ -120,8 +120,12 @@ def test_20(arg: str, /) -> object: ...
 
 def test_21(arg: int, /) -> int: ...
 
+def test_21_dnc(arg: float) -> float: ...
+
 def test_21_f(arg: float, /) -> int: ...
 
+def test_21_fnc(arg: float) -> float: ...
+
 def test_21_g() -> int: ...
 
 def test_21_h() -> int: ...