diff --git a/core/lib/Drupal/Core/Action/Plugin/Action/EmailAction.php b/core/lib/Drupal/Core/Action/Plugin/Action/EmailAction.php
index b345418d37..6d709397e4 100644
--- a/core/lib/Drupal/Core/Action/Plugin/Action/EmailAction.php
+++ b/core/lib/Drupal/Core/Action/Plugin/Action/EmailAction.php
@@ -2,7 +2,6 @@
 
 namespace Drupal\Core\Action\Plugin\Action;
 
-use Drupal\Component\Render\PlainTextOutput;
 use Drupal\Component\Utility\EmailValidatorInterface;
 use Drupal\Core\Access\AccessResult;
 use Drupal\Core\Action\ConfigurableActionBase;
@@ -124,7 +123,7 @@ public function execute($entity = NULL) {
       $this->configuration['node'] = $entity;
     }
 
-    $recipient = PlainTextOutput::renderFromHtml($this->token->replace($this->configuration['recipient'], $this->configuration));
+    $recipient = $this->token->replacePlain($this->configuration['recipient'], $this->configuration);
 
     // If the recipient is a registered user with a language preference, use
     // the recipient's preferred language. Otherwise, use the system default
diff --git a/core/lib/Drupal/Core/Utility/Token.php b/core/lib/Drupal/Core/Utility/Token.php
index a250d5892b..0725492ad9 100644
--- a/core/lib/Drupal/Core/Utility/Token.php
+++ b/core/lib/Drupal/Core/Utility/Token.php
@@ -4,6 +4,7 @@
 
 use Drupal\Component\Render\HtmlEscapedText;
 use Drupal\Component\Render\MarkupInterface;
+use Drupal\Component\Render\PlainTextOutput;
 use Drupal\Core\Cache\CacheableDependencyInterface;
 use Drupal\Core\Cache\CacheBackendInterface;
 use Drupal\Core\Cache\CacheTagsInvalidatorInterface;
@@ -12,6 +13,7 @@
 use Drupal\Core\Language\LanguageManagerInterface;
 use Drupal\Core\Render\AttachmentsInterface;
 use Drupal\Core\Render\BubbleableMetadata;
+use Drupal\Core\Render\Markup;
 use Drupal\Core\Render\RendererInterface;
 
 /**
@@ -134,12 +136,10 @@ public function __construct(ModuleHandlerInterface $module_handler, CacheBackend
   }
 
   /**
-   * Replaces all tokens in a given string with appropriate values.
+   * Replaces all tokens in given unsafe markup with appropriate values.
    *
-   * @param string $text
-   *   An HTML string containing replaceable tokens. The caller is responsible
-   *   for calling \Drupal\Component\Utility\Html::escape() in case the $text
-   *   was plain text.
+   * @param string|null $unsafe
+   *   Unsafe markup string.
    * @param array $data
    *   (optional) An array of keyed objects. For simple replacement scenarios
    *   'node', 'user', and others are common keys, with an accompanying node or
@@ -174,15 +174,83 @@ public function __construct(ModuleHandlerInterface $module_handler, CacheBackend
    *   Renderer's currently active render context.
    *
    * @return string
-   *   The token result is the entered HTML text with tokens replaced. The
-   *   caller is responsible for choosing the right escaping / sanitization. If
-   *   the result is intended to be used as plain text, using
-   *   PlainTextOutput::renderFromHtml() is recommended. If the result is just
-   *   printed as part of a template relying on Twig autoescaping is possible,
-   *   otherwise for example the result can be put into #markup, in which case
-   *   it would be sanitized by Xss::filterAdmin().
+   *   The entered unsafe markup with tokens replaced. The caller is
+   *   responsible for choosing the right sanitization, for example the result
+   *   can be put into #markup, in which case it would be sanitized by
+   *   Xss::filterAdmin().
+   *
+   * @see static::replaceMarkup()
+   * @see static::replacePlain()
    */
-  public function replace($text, array $data = [], array $options = [], BubbleableMetadata $bubbleable_metadata = NULL) {
+  public function replace($unsafe, array $data = [], array $options = [], BubbleableMetadata $bubbleable_metadata = NULL) {
+    if ($unsafe instanceof MarkupInterface) {
+      @trigger_error('Passing MarkupInterface to Token::replace() is deprecated in drupal:9.3.0 and is removed from drupal:10.0.0. Use replaceMarkup() or replacePlain() instead. See https://www.drupal.org/node/3232491', E_USER_DEPRECATED);
+    }
+    return $this->doReplace(TRUE, $unsafe, $data, $options, $bubbleable_metadata);
+  }
+
+  /**
+   * Replaces all tokens in given safe markup with appropriate values.
+   *
+   * @param \Drupal\Component\Render\MarkupInterface $markup
+   *   Safe markup.
+   * @param array $data
+   *   (optional) An array of keyed objects. See replace().
+   * @param array $options
+   *   (optional) A keyed array of options. See replace().
+   * @param \Drupal\Core\Render\BubbleableMetadata|null $bubbleable_metadata
+   *   (optional) Target for adding metadata. See replace().
+   *
+   * @return \Drupal\Component\Render\MarkupInterface
+   *   The entered HTML markup with tokens replaced.
+   */
+  public function replaceMarkup(MarkupInterface $markup, array $data = [], array $options = [], BubbleableMetadata $bubbleable_metadata = NULL) {
+    $result = $this->doReplace(TRUE, $markup, $data, $options, $bubbleable_metadata);
+    // All replacements were escaped and the input string is safe so the return
+    // string is also safe.
+    return Markup::create($result);
+  }
+
+  /**
+   * Replaces all tokens in a given plain text string with appropriate values.
+   *
+   * @param string $plain
+   *   Plain text string.
+   * @param array $data
+   *   (optional) An array of keyed objects. See replace().
+   * @param array $options
+   *   (optional) A keyed array of options. See replace().
+   * @param \Drupal\Core\Render\BubbleableMetadata|null $bubbleable_metadata
+   *   (optional) Target for adding metadata. See replace().
+   *
+   * @return string
+   *   The entered plain text with tokens replaced.
+   */
+  public function replacePlain(string $plain, array $data = [], array $options = [], BubbleableMetadata $bubbleable_metadata = NULL) {
+    return $this->doReplace(FALSE, $plain, $data, $options, $bubbleable_metadata);
+  }
+
+  /**
+   * Replaces all tokens in a given string with appropriate values.
+   *
+   * @param bool $markup
+   *   TRUE to convert token values to markup, FALSE to convert to plain text.
+   * @param string|\Drupal\Component\Render\MarkupInterface|null $text
+   *   A string containing replaceable tokens.
+   * @param array $data
+   *   An array of keyed objects. See replace().
+   * @param array $options
+   *   A keyed array of options. See replace().
+   * @param \Drupal\Core\Render\BubbleableMetadata|null $bubbleable_metadata
+   *   (optional) Target for adding metadata. See replace().
+   *
+   * @return string
+   *   The token result is the entered HTML text with tokens replaced. In case
+   *   of unsafe markup, the caller is responsible for choosing the right
+   *   sanitization. If the result is intended to be used as plain text, using
+   *   PlainTextOutput::renderFromHtml() is recommended.
+   */
+  protected function doReplace(bool $markup, $text, array $data, array $options, BubbleableMetadata $bubbleable_metadata = NULL) {
     $text_tokens = $this->scan($text);
     if (empty($text_tokens)) {
       return $text;
@@ -199,9 +267,15 @@ public function replace($text, array $data = [], array $options = [], Bubbleable
       }
     }
 
-    // Escape the tokens, unless they are explicitly markup.
     foreach ($replacements as $token => $value) {
-      $replacements[$token] = $value instanceof MarkupInterface ? $value : new HtmlEscapedText($value);
+      if ($markup) {
+        // Escape the tokens, unless they are explicitly markup.
+        $replacements[$token] = $value instanceof MarkupInterface ? $value : new HtmlEscapedText($value);
+      }
+      else {
+        // Convert tokens to plain text if they are explicitly markup.
+        $replacements[$token] = $value instanceof MarkupInterface ? PlainTextOutput::renderFromHtml($value) : $value;
+      }
     }
 
     // Optionally alter the list of replacement values.
diff --git a/core/modules/file/src/Plugin/Field/FieldType/FileItem.php b/core/modules/file/src/Plugin/Field/FieldType/FileItem.php
index 99bfae4b27..e99e29ed54 100644
--- a/core/modules/file/src/Plugin/Field/FieldType/FileItem.php
+++ b/core/modules/file/src/Plugin/Field/FieldType/FileItem.php
@@ -3,7 +3,6 @@
 namespace Drupal\file\Plugin\Field\FieldType;
 
 use Drupal\Component\Utility\Bytes;
-use Drupal\Component\Render\PlainTextOutput;
 use Drupal\Component\Utility\Environment;
 use Drupal\Component\Utility\Random;
 use Drupal\Core\Field\FieldDefinitionInterface;
@@ -297,9 +296,8 @@ public function getUploadLocation($data = []) {
   protected static function doGetUploadLocation(array $settings, $data = []) {
     $destination = trim($settings['file_directory'], '/');
 
-    // Replace tokens. As the tokens might contain HTML we convert it to plain
-    // text.
-    $destination = PlainTextOutput::renderFromHtml(\Drupal::token()->replace($destination, $data));
+    // Replace tokens as plain text.
+    $destination = \Drupal::token()->replacePlain($destination, $data);
     return $settings['uri_scheme'] . '://' . $destination;
   }
 
diff --git a/core/modules/file/src/Plugin/rest/resource/FileUploadResource.php b/core/modules/file/src/Plugin/rest/resource/FileUploadResource.php
index 0d5425009c..0ba936b104 100644
--- a/core/modules/file/src/Plugin/rest/resource/FileUploadResource.php
+++ b/core/modules/file/src/Plugin/rest/resource/FileUploadResource.php
@@ -527,9 +527,8 @@ protected function prepareFilename($filename, array &$validators) {
   protected function getUploadLocation(array $settings) {
     $destination = trim($settings['file_directory'], '/');
 
-    // Replace tokens. As the tokens might contain HTML we convert it to plain
-    // text.
-    $destination = PlainTextOutput::renderFromHtml($this->token->replace($destination, []));
+    // Replace tokens as plain text.
+    $destination = $this->token->replacePlain($destination, []);
     return $settings['uri_scheme'] . '://' . $destination;
   }
 
diff --git a/core/modules/file/tests/src/Functional/FileTokenReplaceTest.php b/core/modules/file/tests/src/Functional/FileTokenReplaceTest.php
index 71b9e71f8e..67f7f8558d 100644
--- a/core/modules/file/tests/src/Functional/FileTokenReplaceTest.php
+++ b/core/modules/file/tests/src/Functional/FileTokenReplaceTest.php
@@ -99,7 +99,7 @@ public function testFileTokenReplacement() {
     $tests['[file:size]'] = format_size($file->getSize());
 
     foreach ($tests as $input => $expected) {
-      $output = $token_service->replace($input, ['file' => $file], ['langcode' => $language_interface->getId(), 'sanitize' => FALSE]);
+      $output = $token_service->replace($input, ['file' => $file], ['langcode' => $language_interface->getId()]);
       $this->assertEquals($expected, $output, new FormattableMarkup('Unsanitized file token %token replaced.', ['%token' => $input]));
     }
   }
diff --git a/core/modules/jsonapi/src/Controller/TemporaryJsonapiFileFieldUploader.php b/core/modules/jsonapi/src/Controller/TemporaryJsonapiFileFieldUploader.php
index d07b4562ec..cb6c6cf418 100644
--- a/core/modules/jsonapi/src/Controller/TemporaryJsonapiFileFieldUploader.php
+++ b/core/modules/jsonapi/src/Controller/TemporaryJsonapiFileFieldUploader.php
@@ -18,7 +18,6 @@
 use Drupal\Core\Render\BubbleableMetadata;
 use Drupal\Core\Session\AccountInterface;
 use Drupal\Core\Utility\Token;
-use Drupal\Component\Render\PlainTextOutput;
 use Drupal\Core\Entity\EntityConstraintViolationList;
 use Drupal\file\Entity\File;
 use Drupal\file\Plugin\Field\FieldType\FileFieldItemList;
@@ -461,9 +460,8 @@ protected function prepareFilename($filename, array &$validators) {
   protected function getUploadLocation(array $settings) {
     $destination = trim($settings['file_directory'], '/');
 
-    // Replace tokens. As the tokens might contain HTML we convert it to plain
-    // text.
-    $destination = PlainTextOutput::renderFromHtml($this->token->replace($destination, [], [], new BubbleableMetadata()));
+    // Replace tokens as plain text.
+    $destination = $this->token->replacePlain($destination, [], [], new BubbleableMetadata());
     return $settings['uri_scheme'] . '://' . $destination;
   }
 
diff --git a/core/modules/locale/tests/src/Kernel/LocaleStringIsSafeTest.php b/core/modules/locale/tests/src/Kernel/LocaleStringIsSafeTest.php
index 5d0df06da3..6e77e92491 100644
--- a/core/modules/locale/tests/src/Kernel/LocaleStringIsSafeTest.php
+++ b/core/modules/locale/tests/src/Kernel/LocaleStringIsSafeTest.php
@@ -2,6 +2,7 @@
 
 namespace Drupal\Tests\locale\Kernel;
 
+use Drupal\Component\Render\MarkupInterface;
 use Drupal\KernelTests\KernelTestBase;
 
 /**
@@ -54,19 +55,21 @@ public function testLocalizedTokenizedString() {
     $tests_to_do = [
       1 => [
         'original' => 'Go to the <a href="[locale_test:security_test1]">frontpage</a>',
-        'replaced' => 'Go to the &lt;a href=&quot;javascript:alert(&amp;#039;Mooooh!&amp;#039;);&quot;&gt;frontpage&lt;/a&gt;',
+        'replaced' => 'Go to the <a href="javascript:alert(&#039;Mooooh!&#039;);">frontpage</a>',
       ],
       2 => [
         'original' => 'Hello <strong>[locale_test:security_test2]</strong>!',
-        'replaced' => 'Hello &lt;strong&gt;&amp;lt;script&amp;gt;alert(&amp;#039;Mooooh!&amp;#039;);&amp;lt;/script&amp;gt;&lt;/strong&gt;!',
+        'replaced' => 'Hello <strong>&lt;script&gt;alert(&#039;Mooooh!&#039;);&lt;/script&gt;</strong>!',
       ],
     ];
 
     foreach ($tests_to_do as $i => $test) {
       $original_string = $test['original'];
+      $this->assertFalse($original_string instanceof MarkupInterface);
       $rendered_original_string = \Drupal::theme()->render('locale_test_tokenized', ['content' => $original_string]);
       // Twig assumes that strings are unsafe so it escapes them, and so the
       // original and the rendered version should be different.
+      $this->assertTrue($rendered_original_string instanceof MarkupInterface);
       $this->assertNotEquals(
         $original_string . "\n",
         $rendered_original_string,
@@ -75,18 +78,23 @@ public function testLocalizedTokenizedString() {
 
       // Pass the original string to the t() function to get it marked as safe.
       $safe_string = t($original_string);
+      $this->assertTrue($safe_string instanceof MarkupInterface);
       $rendered_safe_string = \Drupal::theme()->render('locale_test_tokenized', ['content' => $safe_string]);
       // t() function always marks the string as safe so it won't be escaped,
       // and should be the same as the original.
+      $this->assertTrue($rendered_safe_string instanceof MarkupInterface);
       $this->assertEquals($original_string . "\n", $rendered_safe_string, 'Security test ' . $i . ' after translation before token replacement');
 
       // Replace tokens in the safe string to inject it with dangerous content.
       // @see locale_test_tokens().
-      $unsafe_string = \Drupal::token()->replace($safe_string);
-      $rendered_unsafe_string = \Drupal::theme()->render('locale_test_tokenized', ['content' => $unsafe_string]);
-      // Token replacement changes the string so it is not marked as safe
-      // anymore. Check it is escaped the way we expect.
-      $this->assertEquals($test['replaced'] . "\n", $rendered_unsafe_string, 'Security test ' . $i . ' after translation  after token replacement');
+      $tokenized_string = \Drupal::token()->replaceMarkup($safe_string);
+      $this->assertTrue($tokenized_string instanceof MarkupInterface);
+      $this->assertTrue($tokenized_string !== $safe_string, 'New markup object created from original');
+      $rendered_tokenized_string = \Drupal::theme()->render('locale_test_tokenized', ['content' => $tokenized_string]);
+      // After token replacement, string should still be marked as safe. Check
+      // it is escaped the way we expect.
+      $this->assertTrue($rendered_tokenized_string instanceof MarkupInterface);
+      $this->assertEquals($test['replaced'] . "\n", $rendered_tokenized_string, 'Security test ' . $i . ' after translation after token replacement');
     }
   }
 
diff --git a/core/modules/system/system.module b/core/modules/system/system.module
index bb91e01716..132c96546e 100644
--- a/core/modules/system/system.module
+++ b/core/modules/system/system.module
@@ -7,7 +7,6 @@
 
 use Drupal\Component\FileSecurity\FileSecurity;
 use Drupal\Component\Gettext\PoItem;
-use Drupal\Component\Render\PlainTextOutput;
 use Drupal\Component\Utility\UrlHelper;
 use Drupal\Core\Asset\AttachedAssetsInterface;
 use Drupal\Core\Block\BlockPluginInterface;
@@ -1091,7 +1090,7 @@ function system_mail($key, &$message, $params) {
 
   $context = $params['context'];
 
-  $subject = PlainTextOutput::renderFromHtml($token_service->replace($context['subject'], $context));
+  $subject = $token_service->replacePlain($context['subject'], $context);
   $body = $token_service->replace($context['message'], $context);
 
   $message['subject'] .= str_replace(["\r", "\n"], '', $subject);
diff --git a/core/modules/user/user.module b/core/modules/user/user.module
index 47ed7536b2..918b4b456a 100644
--- a/core/modules/user/user.module
+++ b/core/modules/user/user.module
@@ -7,7 +7,6 @@
 
 use Drupal\Component\Assertion\Inspector;
 use Drupal\Component\Utility\Crypt;
-use Drupal\Component\Render\PlainTextOutput;
 use Drupal\Component\Utility\Unicode;
 use Drupal\Core\Access\AccessibleInterface;
 use Drupal\Core\Asset\AttachedAssetsInterface;
@@ -784,7 +783,7 @@ function user_mail($key, &$message, $params) {
   $mail_config = \Drupal::config('user.mail');
 
   $token_options = ['langcode' => $langcode, 'callback' => 'user_mail_tokens', 'clear' => TRUE];
-  $message['subject'] .= PlainTextOutput::renderFromHtml($token_service->replace($mail_config->get($key . '.subject'), $variables, $token_options));
+  $message['subject'] .= $token_service->replacePlain($mail_config->get($key . '.subject'), $variables, $token_options);
   $message['body'][] = $token_service->replace($mail_config->get($key . '.body'), $variables, $token_options);
 
   $language_manager->setConfigOverrideLanguage($original_language);
diff --git a/core/modules/views/src/Plugin/views/area/Text.php b/core/modules/views/src/Plugin/views/area/Text.php
index aafcbf2095..dd557029dd 100644
--- a/core/modules/views/src/Plugin/views/area/Text.php
+++ b/core/modules/views/src/Plugin/views/area/Text.php
@@ -62,7 +62,7 @@ public function render($empty = FALSE) {
     if (!$empty || !empty($this->options['empty'])) {
       return [
         '#type' => 'processed_text',
-        '#text' => $this->tokenizeValue($this->options['content']['value']),
+        '#text' => $this->tokenizeValue((string) $this->options['content']['value']),
         '#format' => $format,
       ];
     }
diff --git a/core/tests/Drupal/Tests/Core/Utility/TokenTest.php b/core/tests/Drupal/Tests/Core/Utility/TokenTest.php
index 730f555331..7a9f8d2fab 100644
--- a/core/tests/Drupal/Tests/Core/Utility/TokenTest.php
+++ b/core/tests/Drupal/Tests/Core/Utility/TokenTest.php
@@ -2,6 +2,7 @@
 
 namespace Drupal\Tests\Core\Utility;
 
+use Drupal\Component\Render\MarkupInterface;
 use Drupal\Component\Utility\Html;
 use Drupal\Core\Cache\Context\CacheContextsManager;
 use Drupal\Core\DependencyInjection\ContainerBuilder;
@@ -294,4 +295,34 @@ public function providerTestReplaceEscaping() {
     return $data;
   }
 
+  /**
+   * @covers ::replaceMarkup
+   * @covers ::replacePlain
+   */
+  public function testMarkupPlain() {
+    // The site name is plain text, but the slogan is markup.
+    $tokens = [
+      '[site:name]' => 'Your <best> buys',
+      '[site:slogan]' => Markup::Create('We are <b>best</b>'),
+    ];
+
+    $this->moduleHandler->expects($this->any())
+      ->method('invokeAll')
+      ->willReturn($tokens);
+
+    $plain_base = 'Wow, great "[site:name]" has a slogan "[site:slogan]"';
+    $plain = $this->token->replacePlain($plain_base);
+    $this->assertFalse($plain instanceof MarkupInterface);
+    $this->assertEquals($plain, 'Wow, great "Your <best> buys" has a slogan "We are best"');
+
+    $markup_base = Markup::create('<p>Wow, <b>great</b> "[site:name]" has a slogan "[site:slogan]"</p>');
+    $markup = $this->token->replaceMarkup($markup_base);
+    $this->assertTrue($markup instanceof MarkupInterface);
+    $this->assertEquals((string) $markup, '<p>Wow, <b>great</b> "Your &lt;best&gt; buys" has a slogan "We are <b>best</b>"</p>');
+
+    $unsafe_markup = $this->token->replace((string) $markup_base);
+    $this->assertFalse($unsafe_markup instanceof MarkupInterface);
+    $this->assertEquals($unsafe_markup, '<p>Wow, <b>great</b> "Your &lt;best&gt; buys" has a slogan "We are <b>best</b>"</p>');
+  }
+
 }