diff --git a/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/jira_params.test.tsx b/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/jira_params.test.tsx
index a05db00f141ab..812c234e80d9e 100644
--- a/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/jira_params.test.tsx
+++ b/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/jira_params.test.tsx
@@ -95,6 +95,10 @@ describe('JiraParamsFields renders', () => {
       description: { allowedValues: [], defaultValue: {} },
     },
   };
+  const useGetFieldsByIssueTypeResponseLoading = {
+    isLoading: true,
+    fields: {},
+  };
 
   beforeEach(() => {
     jest.clearAllMocks();
@@ -421,5 +425,19 @@ describe('JiraParamsFields renders', () => {
       expect(editAction.mock.calls[0][1].incident.priority).toEqual('Medium');
       expect(editAction.mock.calls[1][1].incident.priority).toEqual(null);
     });
+
+    test('Preserve priority when the issue type fields are loading and hasPriority becomes stale', () => {
+      useGetFieldsByIssueTypeMock
+        .mockReturnValueOnce(useGetFieldsByIssueTypeResponseLoading)
+        .mockReturnValue(useGetFieldsByIssueTypeResponse);
+      const wrapper = mount(<JiraParamsFields {...defaultProps} />);
+
+      expect(editAction).not.toBeCalled();
+
+      wrapper.setProps({ ...defaultProps }); // just to force component call useGetFieldsByIssueType again
+
+      expect(editAction).toBeCalledTimes(1);
+      expect(editAction.mock.calls[0][1].incident.priority).toEqual('Medium');
+    });
   });
 });
diff --git a/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/jira_params.tsx b/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/jira_params.tsx
index 834892f2bf374..32390c163cf2a 100644
--- a/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/jira_params.tsx
+++ b/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/jira_params.tsx
@@ -147,11 +147,11 @@ const JiraParamsFields: React.FunctionComponent<ActionParamsProps<JiraActionPara
   }, [editSubActionProperty, fields, incident.issueType, incident.priority]);
 
   useEffect(() => {
-    if (!hasPriority && incident.priority != null) {
+    if (!isLoadingFields && !hasPriority && incident.priority != null) {
       editSubActionProperty('priority', null);
     }
     // eslint-disable-next-line react-hooks/exhaustive-deps
-  }, [hasPriority]);
+  }, [hasPriority, isLoadingFields]);
 
   const labelOptions = useMemo(
     () => (incident.labels ? incident.labels.map((label: string) => ({ label })) : []),
diff --git a/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/use_get_fields_by_issue_type.tsx b/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/use_get_fields_by_issue_type.tsx
index 38be618119c4a..61db73c129db6 100644
--- a/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/use_get_fields_by_issue_type.tsx
+++ b/x-pack/plugins/triggers_actions_ui/public/application/components/builtin_action_types/jira/use_get_fields_by_issue_type.tsx
@@ -62,8 +62,8 @@ export const useGetFieldsByIssueType = ({
         });
 
         if (!didCancel) {
-          setIsLoading(false);
           setFields(res.data ?? {});
+          setIsLoading(false);
           if (res.status && res.status === 'error') {
             toastNotifications.addDanger({
               title: i18n.FIELDS_API_ERROR,