diff --git a/doc/source/whatsnew/v1.2.1.rst b/doc/source/whatsnew/v1.2.1.rst
index c630fc26a93a2..769c195229bbd 100644
--- a/doc/source/whatsnew/v1.2.1.rst
+++ b/doc/source/whatsnew/v1.2.1.rst
@@ -14,7 +14,7 @@ including other versions of pandas.
 
 Fixed regressions
 ~~~~~~~~~~~~~~~~~
--
+- The deprecated attributes ``_AXIS_NAMES`` and ``_AXIS_NUMBERS`` of :class:`DataFrame` and :class:`Series` will no longer show up in ``dir`` or ``inspect.getmembers`` calls (:issue:`38740`)
 -
 
 .. ---------------------------------------------------------------------------
diff --git a/pandas/core/generic.py b/pandas/core/generic.py
index e43edf1e6577e..2f7e78d696d7c 100644
--- a/pandas/core/generic.py
+++ b/pandas/core/generic.py
@@ -172,7 +172,9 @@ class NDFrame(PandasObject, SelectionMixin, indexing.IndexingMixin):
     ]
     _internal_names_set: Set[str] = set(_internal_names)
     _accessors: Set[str] = set()
-    _hidden_attrs: FrozenSet[str] = frozenset(["get_values", "tshift"])
+    _hidden_attrs: FrozenSet[str] = frozenset(
+        ["_AXIS_NAMES", "_AXIS_NUMBERS", "get_values", "tshift"]
+    )
     _metadata: List[str] = []
     _is_copy = None
     _mgr: BlockManager
diff --git a/pandas/tests/frame/test_api.py b/pandas/tests/frame/test_api.py
index 157c8687808b3..a7e2fa760b7e4 100644
--- a/pandas/tests/frame/test_api.py
+++ b/pandas/tests/frame/test_api.py
@@ -1,7 +1,6 @@
 from copy import deepcopy
 import inspect
 import pydoc
-import warnings
 
 import numpy as np
 import pytest
@@ -330,19 +329,17 @@ def test_set_flags(self, allows_duplicate_labels, frame_or_series):
         result.iloc[key] = 10
         assert obj.iloc[key] == 0
 
-    @skip_if_no("jinja2")
     def test_constructor_expanddim_lookup(self):
         # GH#33628 accessing _constructor_expanddim should not
         #  raise NotImplementedError
         df = DataFrame()
 
-        with warnings.catch_warnings(record=True) as wrn:
-            # _AXIS_NUMBERS, _AXIS_NAMES lookups
-            inspect.getmembers(df)
-
-        # some versions give FutureWarning, others DeprecationWarning
-        assert len(wrn)
-        assert any(x.category in [FutureWarning, DeprecationWarning] for x in wrn)
-
         with pytest.raises(NotImplementedError, match="Not supported for DataFrames!"):
             df._constructor_expanddim(np.arange(27).reshape(3, 3, 3))
+
+    @skip_if_no("jinja2")
+    def test_inspect_getmembers(self):
+        # GH38740
+        df = DataFrame()
+        with tm.assert_produces_warning(None):
+            inspect.getmembers(df)