diff --git a/.changes/next-release/bugfix-NettyNIOAsyncHTTPClient-b5e47f7.json b/.changes/next-release/bugfix-NettyNIOAsyncHTTPClient-b5e47f7.json
new file mode 100644
index 000000000000..3c7f4b8ed0f4
--- /dev/null
+++ b/.changes/next-release/bugfix-NettyNIOAsyncHTTPClient-b5e47f7.json
@@ -0,0 +1,6 @@
+{
+    "category": "Netty NIO Async HTTP Client", 
+    "contributor": "", 
+    "type": "bugfix", 
+    "description": "Fixed an issue in Netty async http client where NPE was thrown when the execution got cancelled before executionId was attached to the channel."
+}
diff --git a/http-clients/netty-nio-client/src/main/java/software/amazon/awssdk/http/nio/netty/internal/FutureCancelHandler.java b/http-clients/netty-nio-client/src/main/java/software/amazon/awssdk/http/nio/netty/internal/FutureCancelHandler.java
index 66e94f0fc759..a3d434664a4b 100644
--- a/http-clients/netty-nio-client/src/main/java/software/amazon/awssdk/http/nio/netty/internal/FutureCancelHandler.java
+++ b/http-clients/netty-nio-client/src/main/java/software/amazon/awssdk/http/nio/netty/internal/FutureCancelHandler.java
@@ -21,6 +21,7 @@
 import io.netty.channel.ChannelHandler;
 import io.netty.channel.ChannelHandlerContext;
 import io.netty.channel.ChannelInboundHandlerAdapter;
+import io.netty.util.Attribute;
 import java.io.IOException;
 import software.amazon.awssdk.annotations.SdkInternalApi;
 import software.amazon.awssdk.http.nio.netty.internal.utils.NettyClientLogger;
@@ -46,7 +47,17 @@ public void exceptionCaught(ChannelHandlerContext ctx, Throwable e) {
 
         FutureCancelledException cancelledException = (FutureCancelledException) e;
 
-        if (currentRequestCancelled(ctx, cancelledException)) {
+        Long channelExecutionId = executionId(ctx);
+
+        if (channelExecutionId == null) {
+            RequestContext requestContext = ctx.channel().attr(REQUEST_CONTEXT_KEY).get();
+            LOG.warn(ctx.channel(), () -> String.format("Received a cancellation exception on a channel that doesn't have an "
+                                                         + "execution Id attached. Exception's execution ID is %d. "
+                                                         + "Exception is being ignored. Closing the channel",
+                                                         executionId(ctx)));
+            ctx.close();
+            requestContext.channelPool().release(ctx.channel());
+        } else if (currentRequestCancelled(channelExecutionId, cancelledException)) {
             RequestContext requestContext = ctx.channel().attr(REQUEST_CONTEXT_KEY).get();
             requestContext.handler().onError(e);
             ctx.fireExceptionCaught(new IOException("Request cancelled"));
@@ -65,11 +76,16 @@ public static FutureCancelHandler getInstance() {
         return INSTANCE;
     }
 
-    private boolean currentRequestCancelled(ChannelHandlerContext ctx, FutureCancelledException e) {
-        return e.getExecutionId() == executionId(ctx);
+    private static boolean currentRequestCancelled(long executionId, FutureCancelledException e) {
+        return e.getExecutionId() == executionId;
     }
 
-    private Long executionId(ChannelHandlerContext ctx) {
-        return ctx.channel().attr(EXECUTION_ID_KEY).get();
+    private static Long executionId(ChannelHandlerContext ctx) {
+        Attribute<Long> attr = ctx.channel().attr(EXECUTION_ID_KEY);
+        if (attr == null) {
+            return null;
+        }
+
+        return attr.get();
     }
 }
diff --git a/http-clients/netty-nio-client/src/main/java/software/amazon/awssdk/http/nio/netty/internal/NettyRequestExecutor.java b/http-clients/netty-nio-client/src/main/java/software/amazon/awssdk/http/nio/netty/internal/NettyRequestExecutor.java
index 94ae238f91e7..5d5f9a794677 100644
--- a/http-clients/netty-nio-client/src/main/java/software/amazon/awssdk/http/nio/netty/internal/NettyRequestExecutor.java
+++ b/http-clients/netty-nio-client/src/main/java/software/amazon/awssdk/http/nio/netty/internal/NettyRequestExecutor.java
@@ -42,6 +42,7 @@
 import io.netty.handler.codec.http.HttpVersion;
 import io.netty.handler.timeout.ReadTimeoutHandler;
 import io.netty.handler.timeout.WriteTimeoutHandler;
+import io.netty.util.Attribute;
 import io.netty.util.concurrent.Future;
 import io.netty.util.concurrent.GenericFutureListener;
 import io.netty.util.concurrent.Promise;
@@ -130,8 +131,9 @@ private CompletableFuture<Void> createExecutionFuture(Promise<Channel> channelPr
                 Channel ch = channelPromise.getNow();
                 try {
                     ch.eventLoop().submit(() -> {
-                        if (ch.attr(IN_USE).get()) {
-                            ch.pipeline().fireExceptionCaught(new FutureCancelledException(executionId, t));
+                        Attribute<Long> executionIdKey = ch.attr(EXECUTION_ID_KEY);
+                        if (ch.attr(IN_USE) != null && ch.attr(IN_USE).get() && executionIdKey != null) {
+                            ch.pipeline().fireExceptionCaught(new FutureCancelledException(this.executionId, t));
                         } else {
                             ch.close().addListener(closeFuture -> context.channelPool().release(ch));
                         }
diff --git a/http-clients/netty-nio-client/src/test/java/software/amazon/awssdk/http/nio/netty/internal/FutureCancelHandlerTest.java b/http-clients/netty-nio-client/src/test/java/software/amazon/awssdk/http/nio/netty/internal/FutureCancelHandlerTest.java
index b80cd8e809d0..885eb8ac6644 100644
--- a/http-clients/netty-nio-client/src/test/java/software/amazon/awssdk/http/nio/netty/internal/FutureCancelHandlerTest.java
+++ b/http-clients/netty-nio-client/src/test/java/software/amazon/awssdk/http/nio/netty/internal/FutureCancelHandlerTest.java
@@ -16,6 +16,8 @@
 package software.amazon.awssdk.http.nio.netty.internal;
 
 import static org.assertj.core.api.Assertions.assertThat;
+import static org.mockito.Matchers.any;
+import static org.mockito.Mockito.never;
 import static org.mockito.Mockito.verify;
 import static org.mockito.Mockito.when;
 import static software.amazon.awssdk.http.nio.netty.internal.ChannelAttributeKey.EXECUTION_ID_KEY;
@@ -23,6 +25,7 @@
 
 import io.netty.channel.Channel;
 import io.netty.channel.ChannelHandlerContext;
+import io.netty.channel.DefaultChannelId;
 import io.netty.channel.EventLoopGroup;
 import io.netty.util.DefaultAttributeMap;
 import java.io.IOException;
@@ -75,6 +78,7 @@ public void methodSetup() {
         when(ctx.channel()).thenReturn(channel);
         when(channel.attr(EXECUTION_ID_KEY)).thenReturn(attrMap.attr(EXECUTION_ID_KEY));
         when(channel.attr(REQUEST_CONTEXT_KEY)).thenReturn(attrMap.attr(REQUEST_CONTEXT_KEY));
+        when(channel.id()).thenReturn(DefaultChannelId.newInstance());
     }
 
     @Test
@@ -98,4 +102,15 @@ public void forwardsExceptionIfNotCancelledException() {
         verify(ctx).fireExceptionCaught(exceptionCaptor.capture());
         assertThat(exceptionCaptor.getValue()).isEqualTo(err);
     }
+
+    @Test
+    public void cancelledException_executionIdNull_shouldIgnoreExceptionAndCloseChannel() {
+        when(channel.attr(EXECUTION_ID_KEY)).thenReturn(null);
+
+        FutureCancelledException cancelledException = new FutureCancelledException(1L, new CancellationException());
+        handler.exceptionCaught(ctx, cancelledException);
+
+        verify(ctx, never()).fireExceptionCaught(any(Throwable.class));
+        verify(ctx).close();
+    }
 }