diff --git a/plugins/woocommerce/changelog/46321-update-hide-banner-from-preview b/plugins/woocommerce/changelog/46321-update-hide-banner-from-preview
new file mode 100644
index 00000000000..4cb9f0fe9f9
--- /dev/null
+++ b/plugins/woocommerce/changelog/46321-update-hide-banner-from-preview
@@ -0,0 +1,4 @@
+Significance: patch
+Type: update
+
+Hide coming soon banner from LYS preview frame
\ No newline at end of file
diff --git a/plugins/woocommerce/src/Admin/Features/LaunchYourStore.php b/plugins/woocommerce/src/Admin/Features/LaunchYourStore.php
index c76a845be81..09ca19607df 100644
--- a/plugins/woocommerce/src/Admin/Features/LaunchYourStore.php
+++ b/plugins/woocommerce/src/Admin/Features/LaunchYourStore.php
@@ -230,6 +230,11 @@ class LaunchYourStore {
 	 * - 'woocommerce_coming_soon' option value must be 'yes'
 	 */
 	public function maybe_add_coming_soon_banner_on_frontend() {
+		// Do not show the banner if the site is being previewed.
+		if ( isset( $_GET['site-preview'] ) ) { // @phpcs:ignore
+			return false;
+		}
+
 		// User must be an admin or editor.
 		// phpcs:ignore
 		if ( ! current_user_can( 'shop_manager' ) && ! current_user_can( 'administrator' ) ) {