diff --git a/environment.yml b/environment.yml
index bc5bfcd162500..b56e5c1e25d01 100644
--- a/environment.yml
+++ b/environment.yml
@@ -77,6 +77,7 @@ dependencies:
   - bottleneck>=1.2.1
   - ipykernel
   - ipython>=7.11.1
+  - decorator=4  # temporary pin (dependency of IPython), see GH-40768
   - jinja2  # pandas.Styler
   - matplotlib>=2.2.2  # pandas.plotting, Series.plot, DataFrame.plot
   - numexpr>=2.6.8
diff --git a/requirements-dev.txt b/requirements-dev.txt
index 98a149eb5d412..b190a6cdb7c2e 100644
--- a/requirements-dev.txt
+++ b/requirements-dev.txt
@@ -49,6 +49,7 @@ blosc
 bottleneck>=1.2.1
 ipykernel
 ipython>=7.11.1
+decorator==4
 jinja2
 matplotlib>=2.2.2
 numexpr>=2.6.8