diff --git a/airflow-core/src/airflow/dag_processing/collection.py b/airflow-core/src/airflow/dag_processing/collection.py
index 1d60c32020fc3..96f3c89f8623a 100644
--- a/airflow-core/src/airflow/dag_processing/collection.py
+++ b/airflow-core/src/airflow/dag_processing/collection.py
@@ -1101,7 +1101,8 @@ def add_asset_trigger_references(
                 asset_model.watchers = [
                     watcher
                     for watcher in asset_model.watchers
-                    if BaseEventTrigger.hash(watcher.trigger.classpath, watcher.trigger.kwargs)
+                    if watcher.trigger is not None
+                    and BaseEventTrigger.hash(watcher.trigger.classpath, watcher.trigger.kwargs)
                     not in trigger_hashes
                 ]