diff --git a/gem/lib/ruby_ui/select/select_value.rb b/gem/lib/ruby_ui/select/select_value.rb
index 80b8fe032..3def939a0 100644
--- a/gem/lib/ruby_ui/select/select_value.rb
+++ b/gem/lib/ruby_ui/select/select_value.rb
@@ -9,7 +9,8 @@ def initialize(placeholder: nil, **attrs)
 
     def view_template(&block)
       span(**attrs) do
-        block ? block.call : @placeholder
+        value = block ? block.call : @placeholder
+        value || @placeholder
       end
     end
 
diff --git a/gem/test/ruby_ui/select_test.rb b/gem/test/ruby_ui/select_test.rb
index b1f5b1be2..b51469043 100644
--- a/gem/test/ruby_ui/select_test.rb
+++ b/gem/test/ruby_ui/select_test.rb
@@ -29,4 +29,14 @@ def test_render_with_all_items
     assert_match(/John/, output)
     assert_match('name="NAME"', output)
   end
+
+  def test_select_value_renders_placeholder_when_block_returns_nil
+    output = phlex do
+      RubyUI.SelectValue(placeholder: "Placeholder") do
+        nil
+      end
+    end
+
+    assert_match(/Placeholder/, output)
+  end
 end