diff --git a/CHANGES.md b/CHANGES.md
index 460f9c95114..223a07e8ef9 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -45,6 +45,8 @@
 
 <!-- Changes that improve Black's performance. -->
 
+- Avoid importing `IPython` in a case where we wouldn't need it (#3748)
+
 ### Output
 
 <!-- Changes to Black's terminal output and error messages -->
diff --git a/src/black/handle_ipynb_magics.py b/src/black/handle_ipynb_magics.py
index 9e1af757c32..2b6b9209211 100644
--- a/src/black/handle_ipynb_magics.py
+++ b/src/black/handle_ipynb_magics.py
@@ -58,8 +58,13 @@ class Replacement:
 @lru_cache()
 def jupyter_dependencies_are_installed(*, verbose: bool, quiet: bool) -> bool:
     try:
-        import IPython  # noqa:F401
+        # isort: off
+        # tokenize_rt is less commonly installed than IPython
+        # and IPython is expensive to import
         import tokenize_rt  # noqa:F401
+        import IPython  # noqa:F401
+
+        # isort: on
     except ModuleNotFoundError:
         if verbose or not quiet:
             msg = (