diff --git a/changes/4192-kylebamos.md b/changes/4192-kylebamos.md
new file mode 100644
index 0000000..daa518d
--- /dev/null
+++ b/changes/4192-kylebamos.md
@@ -0,0 +1 @@
+Update BaseModel.construct to work with aliased Fields
\ No newline at end of file
diff --git a/pydantic/main.py b/pydantic/main.py
index 5ce2674..fddacd9 100644
--- a/pydantic/main.py
+++ b/pydantic/main.py
@@ -588,7 +588,9 @@ class BaseModel(Representation, metaclass=ModelMetaclass):
         m = cls.__new__(cls)
         fields_values: Dict[str, Any] = {}
         for name, field in cls.__fields__.items():
-            if name in values:
+            if field.alt_alias and field.alias in values:
+                fields_values[name] = values[field.alias]
+            elif name in values:
                 fields_values[name] = values[name]
             elif not field.required:
                 fields_values[name] = field.get_default()
diff --git a/tests/test_aliases.py b/tests/test_aliases.py
index 53a08dc..f37daf1 100644
--- a/tests/test_aliases.py
+++ b/tests/test_aliases.py
@@ -1,5 +1,6 @@
 import re
-from typing import Any, List, Optional
+from contextlib import nullcontext as does_not_raise
+from typing import Any, ContextManager, List, Optional
 
 import pytest
 
@@ -345,3 +346,39 @@ def test_empty_string_alias():
     m = Model(**data)
     assert m.empty_string_key == 123
     assert m.dict(by_alias=True) == data
+
+
+@pytest.mark.parametrize(
+    'use_construct, allow_population_by_field_name_config, arg_name, expectation',
+    [
+        [False, True, 'bar', does_not_raise()],
+        [False, True, 'bar_', does_not_raise()],
+        [False, False, 'bar', does_not_raise()],
+        [False, False, 'bar_', pytest.raises(ValueError)],
+        [True, True, 'bar', does_not_raise()],
+        [True, True, 'bar_', does_not_raise()],
+        [True, False, 'bar', does_not_raise()],
+        [True, False, 'bar_', does_not_raise()],
+    ],
+)
+def test_allow_population_by_field_name_config(
+    use_construct: bool,
+    allow_population_by_field_name_config: bool,
+    arg_name: str,
+    expectation: ContextManager,
+):
+    expected_value: int = 7
+
+    class Foo(BaseModel):
+        bar_: int = Field(..., alias='bar')
+
+        class Config(BaseConfig):
+            allow_population_by_field_name = allow_population_by_field_name_config
+
+    with expectation:
+        if use_construct:
+            f = Foo.construct(**{arg_name: expected_value})
+        else:
+            f = Foo(**{arg_name: expected_value})
+
+        assert f.bar_ == expected_value