diff --git a/kotlinx-coroutines-core/jvm/src/scheduling/CoroutineScheduler.kt b/kotlinx-coroutines-core/jvm/src/scheduling/CoroutineScheduler.kt
index 3430ebadec..25b79b3ec8 100644
--- a/kotlinx-coroutines-core/jvm/src/scheduling/CoroutineScheduler.kt
+++ b/kotlinx-coroutines-core/jvm/src/scheduling/CoroutineScheduler.kt
@@ -798,7 +798,22 @@ internal class CoroutineScheduler(
              */
             while (inStack() && workerCtl.value == PARKED) { // Prevent spurious wakeups
                 if (isTerminated || state == WorkerState.TERMINATED) break
-                tryReleaseCpu(WorkerState.PARKING)
+                val hadCpu = tryReleaseCpu(WorkerState.PARKING)
+                if (hadCpu && !globalCpuQueue.isEmpty) {
+                    /*
+                     * Prevents the following race: consider corePoolSize = 1
+                     * - T_CPU holds the only CPU permit, scans the tasks, doesn't find anything,
+                     *   places itself on a stack
+                     * - T_CPU scans again, doesn't find anything again, a thread switch happens at tryPark()
+                     * - T_B (or several workers in BLOCKING mode) also put themselves on the stack, on top of the T_CPU
+                     * - T* (not a worker) dispatches CPU tasks, wakes up T_B
+                     * - T_B can't acquire a CPU permit, scans blocking queue, doesn't find anything, parks
+                     * - T_CPU releases the CPU permit, parks
+                     * - there are tasks in the CPU queue, but all workers are parked,
+                     *   so the scheduler won't make progress until there is another dispatch
+                     */
+                    break
+                }
                 interrupted() // Cleanup interruptions
                 park()
             }
diff --git a/kotlinx-coroutines-core/jvm/test/scheduling/CoroutineSchedulerLivenessStressTest.kt b/kotlinx-coroutines-core/jvm/test/scheduling/CoroutineSchedulerLivenessStressTest.kt
index 07b549f917..6150450636 100644
--- a/kotlinx-coroutines-core/jvm/test/scheduling/CoroutineSchedulerLivenessStressTest.kt
+++ b/kotlinx-coroutines-core/jvm/test/scheduling/CoroutineSchedulerLivenessStressTest.kt
@@ -1,7 +1,6 @@
 package kotlinx.coroutines.scheduling
 
 import kotlinx.coroutines.testing.*
-import kotlinx.coroutines.*
 import kotlinx.coroutines.scheduling.CoroutineScheduler.Companion.MAX_SUPPORTED_POOL_SIZE
 import org.junit.*
 import java.util.concurrent.*
diff --git a/kotlinx-coroutines-core/jvm/test/scheduling/CoroutineSchedulerLostCpuPermitStressTest.kt b/kotlinx-coroutines-core/jvm/test/scheduling/CoroutineSchedulerLostCpuPermitStressTest.kt
new file mode 100644
index 0000000000..a3d153b11e
--- /dev/null
+++ b/kotlinx-coroutines-core/jvm/test/scheduling/CoroutineSchedulerLostCpuPermitStressTest.kt
@@ -0,0 +1,40 @@
+package kotlinx.coroutines.scheduling
+
+import kotlinx.coroutines.testing.*
+import java.util.concurrent.*
+import kotlin.random.Random
+import kotlin.test.*
+
+class CoroutineSchedulerLostCpuPermitStressTest: TestBase() {
+
+    // See https://github.com/Kotlin/kotlinx.coroutines/issues/4491
+    @Test
+    fun testLostCpuPermit() {
+        // Sometimes, this test passes after a million iterations with the bug present!
+        val iterations = 100_000 * stressTestMultiplier
+        CoroutineScheduler(1, 2, Long.MAX_VALUE).use { scheduler ->
+            repeat(iterations) {
+                // Start a CPU worker
+                val cpuLatch = CountDownLatch(1)
+                scheduler.dispatch({
+                    cpuLatch.countDown()
+                }, NonBlockingContext, false)
+                val cpuInitiallyAvailable = cpuLatch.await(1, TimeUnit.SECONDS)
+                assertTrue(cpuInitiallyAvailable, "Failed to start CPU worker on iteration $it")
+                // The CPU worker has finished its task and put itself on the stack.
+                // Spawn another worker on top of it.
+                val ioLatch = CountDownLatch(1)
+                scheduler.dispatch({
+                    ioLatch.countDown()
+                }, BlockingContext, false)
+                ioLatch.await()
+                val finalLatch = CountDownLatch(1)
+                scheduler.dispatch({
+                    finalLatch.countDown()
+                }, NonBlockingContext, false)
+                val cpuAvailableAfterBlocking = finalLatch.await(1, TimeUnit.SECONDS)
+                assertTrue(cpuAvailableAfterBlocking, "Lost CPU permit on iteration $it")
+            }
+        }
+    }
+}