diff --git a/tools/pybind11Tools.cmake b/tools/pybind11Tools.cmake
index 49876eb9f6..11ea0dc580 100644
--- a/tools/pybind11Tools.cmake
+++ b/tools/pybind11Tools.cmake
@@ -183,7 +183,12 @@ function(pybind11_add_module target_name)
 
   if(CMAKE_VERSION VERSION_LESS 3.9 OR PYBIND11_CLASSIC_LTO)
     _pybind11_add_lto_flags(${target_name} ${ARG_THIN_LTO})
-  else()
+  elseif(NOT DEFINED CMAKE_INTERPROCEDURAL_OPTIMIZATION)
+    cmake_policy(GET CMP0069 IPO_POL)
+    if(CMP0069 STREQUAL "NEW")
+      cmake_policy(SET CMP0069 NEW)
+    endif()
+
     include(CheckIPOSupported)
     check_ipo_supported(RESULT supported OUTPUT error)
     if(supported)