diff --git a/drf_spectacular/openapi.py b/drf_spectacular/openapi.py
index 84645516..e20449fb 100644
--- a/drf_spectacular/openapi.py
+++ b/drf_spectacular/openapi.py
@@ -808,12 +808,18 @@ def _get_response_for_code(self, serializer):
     def _get_serializer_name(self, serializer, direction):
         serializer_extension = OpenApiSerializerExtension.get_match(serializer)
         if serializer_extension and serializer_extension.get_name():
-            return serializer_extension.get_name()
-
-        name = serializer.__class__.__name__
+            # library override mechanisms
+            name = serializer_extension.get_name()
+        elif getattr(getattr(serializer, 'Meta', None), 'ref_name', None) is not None:
+            # local override mechanisms. for compatibility with drf-yasg we support meta ref_name,
+            # though we do not support the serializer inlining feature.
+            # https://drf-yasg.readthedocs.io/en/stable/custom_spec.html#serializer-meta-nested-class
+            name = serializer.Meta.ref_name
+        else:
+            name = serializer.__class__.__name__
+            if name.endswith('Serializer'):
+                name = name[:-10]
 
-        if name.endswith('Serializer'):
-            name = name[:-10]
         if self.method == 'PATCH' and not serializer.read_only and direction == 'request':
             name = 'Patched' + name
 
diff --git a/tests/test_regressions.py b/tests/test_regressions.py
index 5b001659..eb21d1c5 100644
--- a/tests/test_regressions.py
+++ b/tests/test_regressions.py
@@ -356,7 +356,7 @@ def pi(request, foo):
     assert parameter['schema']['type'] == 'integer'
 
 
-def test_serializer_naming_collision_resolution(no_warnings):
+def test_lib_serializer_naming_collision_resolution(no_warnings):
     """ parity test in tests.test_warnings.test_serializer_name_reuse """
     def x_lib1():
         class XSerializer(serializers.Serializer):
@@ -390,3 +390,35 @@ def get_name(self):
     assert request_component == '#/components/schemas/X'
     response_component = operation['responses']['200']['content']['application/json']['schema']['$ref']
     assert response_component == '#/components/schemas/RenamedLib2X'
+
+
+def test_owned_serializer_naming_override_with_ref_name(no_warnings):
+    def x_owned1():
+        class XSerializer(serializers.Serializer):
+            x = serializers.UUIDField()
+
+        return XSerializer
+
+    def x_owned2():
+        class XSerializer(serializers.Serializer):
+            x = serializers.IntegerField()
+
+            class Meta:
+                ref_name = 'Y'
+
+        return XSerializer
+
+    x_owned1, x_owned2 = x_owned1(), x_owned2()
+
+    class XAPIView(APIView):
+        @extend_schema(request=x_owned1, responses=x_owned2)
+        def post(self, request):
+            pass  # pragma: no cover
+
+    schema = generate_schema('/x', view=XAPIView)
+
+    operation = schema['paths']['/x']['post']
+    request_component = operation['requestBody']['content']['application/json']['schema']['$ref']
+    assert request_component == '#/components/schemas/X'
+    response_component = operation['responses']['200']['content']['application/json']['schema']['$ref']
+    assert response_component == '#/components/schemas/Y'
diff --git a/tests/test_warnings.py b/tests/test_warnings.py
index 5b6a86f2..8e21c7e1 100644
--- a/tests/test_warnings.py
+++ b/tests/test_warnings.py
@@ -2,6 +2,7 @@
 from rest_framework import serializers, mixins, viewsets, views
 from rest_framework.authentication import BaseAuthentication
 from rest_framework.decorators import action
+from rest_framework.views import APIView
 
 from drf_spectacular.utils import extend_schema
 from drf_spectacular.validation import validate_schema
@@ -39,6 +40,24 @@ class X2Viewset(mixins.ListModelMixin, viewsets.GenericViewSet):
     generator.get_schema(request=None, public=True)
 
 
+def test_owned_serializer_naming_override_with_ref_name_collision(warnings):
+    class XSerializer(serializers.Serializer):
+        x = serializers.UUIDField()
+
+    class YSerializer(serializers.Serializer):
+        x = serializers.IntegerField()
+
+        class Meta:
+            ref_name = 'X'  # already used above
+
+    class XAPIView(APIView):
+        @extend_schema(request=XSerializer, responses=YSerializer)
+        def post(self, request):
+            pass  # pragma: no cover
+
+    generate_schema('/x', view=XAPIView)
+
+
 def test_no_queryset_warn(capsys):
     class X1Serializer(serializers.Serializer):
         uuid = serializers.UUIDField()