diff --git a/lisp/emacs-lisp/bytecomp.el b/lisp/emacs-lisp/bytecomp.el
index f6150069e81..1b64a06fe42 100644
--- a/lisp/emacs-lisp/bytecomp.el
+++ b/lisp/emacs-lisp/bytecomp.el
@@ -4362,7 +4362,8 @@ Return (TAIL VAR TEST CASES), where:
               (and (or (eq var switch-var) (not switch-var))
                    (progn
                      (setq switch-var var)
-                     (setq switch-test 'eq)
+                     (setq switch-test
+                           (byte-compile--common-test switch-test 'eq))
                      (unless (memq nil keys)
                        (push nil keys)
                        (push (cons (list nil) (or body '(t))) cases))
diff --git a/test/lisp/emacs-lisp/bytecomp-tests.el b/test/lisp/emacs-lisp/bytecomp-tests.el
index 7c40f7ebca3..ee0f931c192 100644
--- a/test/lisp/emacs-lisp/bytecomp-tests.el
+++ b/test/lisp/emacs-lisp/bytecomp-tests.el
@@ -503,6 +503,12 @@
                  (:success 'good))
                (1+ x))))
       (funcall f 3))
+
+    ;; Check `not' in cond switch (bug#49746).
+    (mapcar (lambda (x) (cond ((equal x "a") 1)
+                              ((member x '("b" "c")) 2)
+                              ((not x) 3)))
+            '("a" "b" "c" "d" nil))
     )
   "List of expressions for cross-testing interpreted and compiled code.")