diff --git a/panel/models/quill.ts b/panel/models/quill.ts
index 40912a30c0..ec8dbead53 100644
--- a/panel/models/quill.ts
+++ b/panel/models/quill.ts
@@ -31,7 +31,10 @@ export class QuillInputView extends PanelHTMLBoxView {
       this.quill.enable(!this.model.disabled)
       this._editing = false
     })
-    const {mode, toolbar} = this.model.properties
+    const {mode, toolbar, placeholder} = this.model.properties
+    this.on_change([placeholder], () => {
+      this.quill.root.setAttribute('data-placeholder', this.model.placeholder)
+    })
     this.on_change([mode, toolbar], () => {
       this.render()
       this._layout_toolbar()