diff --git a/panel/io/server.py b/panel/io/server.py
index f7cade70f0..80f4a15da2 100644
--- a/panel/io/server.py
+++ b/panel/io/server.py
@@ -522,11 +522,17 @@ def create_static_handler(prefix, key, app):
 
 # Bokeh 2.4.x patches the asyncio event loop policy but Tornado 6.1
 # support the WindowsProactorEventLoopPolicy so we restore it.
+try:
+    JUPYTER_CONTEXT = get_ipython() is not None # noqa
+except Exception:
+    JUPYTER_CONTEXT = False
+
 if (
     sys.platform == 'win32' and
     sys.version_info[:3] >= (3, 8, 0) and
     tornado.version_info >= (6, 1) and
-    type(asyncio.get_event_loop_policy()) is asyncio.WindowsSelectorEventLoopPolicy
+    type(asyncio.get_event_loop_policy()) is asyncio.WindowsSelectorEventLoopPolicy and
+    not JUPYTER_CONTEXT
 ):
     asyncio.set_event_loop_policy(asyncio.WindowsProactorEventLoopPolicy())