diff --git a/packages/block-editor/src/components/rich-text/use-paste-handler.js b/packages/block-editor/src/components/rich-text/use-paste-handler.js
index 5f3b93a0ecc0e9..75a58bffd9aee1 100644
--- a/packages/block-editor/src/components/rich-text/use-paste-handler.js
+++ b/packages/block-editor/src/components/rich-text/use-paste-handler.js
@@ -139,10 +139,14 @@ export function usePasteHandler( props ) {
 
 			let mode = onReplace && onSplit ? 'AUTO' : 'INLINE';
 
+			const trimmedPlainText = plainText.trim();
+
 			if (
 				__unstableEmbedURLOnPaste &&
 				isEmpty( value ) &&
-				isURL( plainText.trim() )
+				isURL( trimmedPlainText ) &&
+				// For the link pasting feature, allow only http(s) protocols.
+				/^https?:/.test( trimmedPlainText )
 			) {
 				mode = 'BLOCKS';
 			}
diff --git a/packages/format-library/src/link/index.js b/packages/format-library/src/link/index.js
index 1596da055cc402..9faa90628e3c3b 100644
--- a/packages/format-library/src/link/index.js
+++ b/packages/format-library/src/link/index.js
@@ -144,7 +144,8 @@ export const link = {
 			.trim();
 
 		// A URL was pasted, turn the selection into a link.
-		if ( ! isURL( pastedText ) ) {
+		// For the link pasting feature, allow only http(s) protocols.
+		if ( ! isURL( pastedText ) || ! /^https?:/.test( pastedText ) ) {
 			return value;
 		}
 
diff --git a/test/e2e/specs/editor/various/copy-cut-paste.spec.js b/test/e2e/specs/editor/various/copy-cut-paste.spec.js
index 4c249349243669..2a2fd95636e7fa 100644
--- a/test/e2e/specs/editor/various/copy-cut-paste.spec.js
+++ b/test/e2e/specs/editor/various/copy-cut-paste.spec.js
@@ -496,4 +496,53 @@ test.describe( 'Copy/cut/paste', () => {
 		await page.keyboard.type( 'y' );
 		expect( await editor.getEditedPostContent() ).toMatchSnapshot();
 	} );
+
+	test( 'should link selection', async ( { pageUtils, editor } ) => {
+		await editor.insertBlock( {
+			name: 'core/paragraph',
+			attributes: {
+				content: 'a',
+			},
+		} );
+		await pageUtils.pressKeys( 'primary+a' );
+		pageUtils.setClipboardData( {
+			plainText: 'https://wordpress.org/gutenberg',
+			html: '<a href="https://wordpress.org/gutenberg">https://wordpress.org/gutenberg</a>',
+		} );
+		await pageUtils.pressKeys( 'primary+v' );
+		expect( await editor.getBlocks() ).toMatchObject( [
+			{
+				name: 'core/paragraph',
+				attributes: {
+					content: '<a href="https://wordpress.org/gutenberg">a</a>',
+				},
+			},
+		] );
+	} );
+
+	test( 'should not link selection for non http(s) protocol', async ( {
+		pageUtils,
+		editor,
+	} ) => {
+		await editor.insertBlock( {
+			name: 'core/paragraph',
+			attributes: {
+				content: 'a',
+			},
+		} );
+		await pageUtils.pressKeys( 'primary+a' );
+		pageUtils.setClipboardData( {
+			plainText: 'movie: b',
+			html: 'movie: b',
+		} );
+		await pageUtils.pressKeys( 'primary+v' );
+		expect( await editor.getBlocks() ).toMatchObject( [
+			{
+				name: 'core/paragraph',
+				attributes: {
+					content: 'movie: b',
+				},
+			},
+		] );
+	} );
 } );