diff --git a/apps/server/src/services/import/markdown.spec.ts b/apps/server/src/services/import/markdown.spec.ts
index 103c3fc6f..8768d3252 100644
--- a/apps/server/src/services/import/markdown.spec.ts
+++ b/apps/server/src/services/import/markdown.spec.ts
@@ -194,9 +194,43 @@ second line 2</code></pre><ul><li>Hello</li><li>world</li></ul><ol><li>Hello</li
         expect(markdownService.renderToHtml(input, "Title")).toStrictEqual(expected);
     });
 
+    it("converts multi-line display math expressions into Mathtex format", () => {
+        const input = `$$
+\\sqrt{x^{2}+1} \\
++ \\frac{1}{2}
+$$`;
+        const expected = /*html*/`<span class="math-tex">\\[
+\\sqrt{x^{2}+1} \\
++ \\frac{1}{2}
+\\]</span>`;
+        expect(markdownService.renderToHtml(input, "Title")).toStrictEqual(expected);
+    });
+
+    it("ignores math formulas inside code blocks and converts inline math expressions correctly", () => {
+        const result = markdownService.renderToHtml(trimIndentation`\
+            \`\`\`unknownlanguage
+            $$a+b$$
+            \`\`\`
+        `, "title");
+        expect(result).toBe(trimIndentation`\
+            <pre><code class="language-text-x-trilium-auto">$$a+b$$</code></pre>`);
+    });
+
+    it("converts specific inline math expression into Mathtex format", () => {
+        const input = `This is a formula: $\\mathcal{L}_{task} + \\mathcal{L}_{od}$ inside a sentence.`;
+        const expected = /*html*/`<p>This is a formula: <span class="math-tex">\\(\\mathcal{L}_{task} + \\mathcal{L}_{od}\\)</span> inside a sentence.</p>`;
+        expect(markdownService.renderToHtml(input, "Title")).toStrictEqual(expected);
+    });
+
+    it("converts math expressions inside list items into Mathtex format", () => {
+        const input = `- First item with formula: $E = mc^2$`;
+        const expected = /*html*/`<ul><li>First item with formula: <span class="math-tex">\\(E = mc^2\\)</span></li></ul>`;
+        expect(markdownService.renderToHtml(input, "Title")).toStrictEqual(expected);
+    });
+
     it("converts display math expressions into Mathtex format", () => {
         const input = `$$\sqrt{x^{2}+1}$$`;
-        const expected = /*html*/`<p><span class="math-tex">\\[\sqrt{x^{2}+1}\\]</span></p>`;
+        const expected = /*html*/`<span class="math-tex">\\[\sqrt{x^{2}+1}\\]</span>`;
         expect(markdownService.renderToHtml(input, "Title")).toStrictEqual(expected);
     });
 
@@ -240,7 +274,7 @@ second line 2</code></pre><ul><li>Hello</li><li>world</li></ul><ol><li>Hello</li
     });
 
     it("imports todo lists properly", () => {
-         const input = trimIndentation`\
+        const input = trimIndentation`\
             - [x] Hello
             - [ ] World`;
         const expected = `<ul class="todo-list"><li><label class="todo-list__label"><input type="checkbox" checked="checked" disabled="disabled"><span class="todo-list__label__description">Hello</span></label></li><li><label class="todo-list__label"><input type="checkbox" disabled="disabled"><span class="todo-list__label__description">World</span></label></li></ul>`;
diff --git a/apps/server/src/services/import/markdown.ts b/apps/server/src/services/import/markdown.ts
index 8d1e7ed34..e9ad6c4ae 100644
--- a/apps/server/src/services/import/markdown.ts
+++ b/apps/server/src/services/import/markdown.ts
@@ -23,19 +23,7 @@ class CustomMarkdownRenderer extends Renderer {
     }
 
     paragraph(data: Tokens.Paragraph): string {
-        let text = super.paragraph(data).trimEnd();
-
-        if (text.includes("$")) {
-            // Display math
-            text = text.replaceAll(/(?<!\\)\$\$(.+)\$\$/g,
-                `<span class="math-tex">\\\[$1\\\]</span>`);
-
-            // Inline math
-            text = text.replaceAll(/(?<!\\)\$(.+?)\$/g,
-                `<span class="math-tex">\\\($1\\\)</span>`);
-        }
-
-        return text;
+        return super.paragraph(data).trimEnd();
     }
 
     code({ text, lang }: Tokens.Code): string {
@@ -133,11 +121,17 @@ function renderToHtml(content: string, title: string) {
     // Double-escape slashes in math expression because they are otherwise consumed by the parser somewhere.
     content = content.replaceAll("\\$", "\\\\$");
 
-    let html = parse(content, {
+    // Extract formulas and replace them with placeholders to prevent interference from Markdown rendering
+    const { processedText, placeholderMap: formulaMap } = extractFormulas(content);
+
+    let html = parse(processedText, {
         async: false,
         renderer: renderer
     }) as string;
 
+    // After rendering, replace placeholders back with the formula HTML
+    html = restoreFromMap(html, formulaMap);
+
     // h1 handling needs to come before sanitization
     html = importUtils.handleH1(html, title);
     html = htmlSanitizer.sanitize(html);
@@ -165,6 +159,59 @@ function getNormalizedMimeFromMarkdownLanguage(language: string | undefined) {
     return MIME_TYPE_AUTO;
 }
 
+function extractCodeBlocks(text: string): { processedText: string, placeholderMap: Map<string, string> } {
+    const codeMap = new Map<string, string>();
+    let id = 0;
+    const timestamp = Date.now();
+
+    // Multi-line code block and Inline code
+    text = text.replace(/```[\s\S]*?```/g, (m) => {
+        const key = `<!--CODE_BLOCK_${timestamp}_${id++}-->`;
+        codeMap.set(key, m);
+        return key;
+    }).replace(/`[^`\n]+`/g, (m) => {
+        const key = `<!--INLINE_CODE_${timestamp}_${id++}-->`;
+        codeMap.set(key, m);
+        return key;
+    });
+
+    return { processedText: text, placeholderMap: codeMap };
+}
+
+function extractFormulas(text: string): { processedText: string, placeholderMap: Map<string, string> } {
+    // Protect the $ signs inside code blocks from being recognized as formulas.
+    const { processedText: noCodeText, placeholderMap: codeMap } = extractCodeBlocks(text);
+
+    const formulaMap = new Map<string, string>();
+    let id = 0;
+    const timestamp = Date.now();
+
+    // Display math and Inline math
+    let processedText = noCodeText.replace(/(?<!\\)\$\$((?:(?!\n{2,})[\s\S])+?)\$\$/g, (_, formula) => {
+        const key = `<!--FORMULA_BLOCK_${timestamp}_${id++}-->`;
+        const rendered = `<span class="math-tex">\\[${formula}\\]</span>`;
+        formulaMap.set(key, rendered);
+        return key;
+    }).replace(/(?<!\\)\$(.+?)\$/g, (_, formula) => {
+        const key = `<!--FORMULA_INLINE_${timestamp}_${id++}-->`;
+        const rendered = `<span class="math-tex">\\(${formula}\\)</span>`;
+        formulaMap.set(key, rendered);
+        return key;
+    });
+
+    processedText = restoreFromMap(processedText, codeMap);
+
+    return { processedText, placeholderMap: formulaMap };
+}
+
+function restoreFromMap(text: string, map: Map<string, string>): string {
+    if (map.size === 0) return text;
+    const pattern = [...map.keys()]
+        .map(k => k.replace(/[.*+?^${}()|[\]\\]/g, '\\$&'))
+        .join('|');
+    return text.replace(new RegExp(pattern, 'g'), match => map.get(match) ?? match);
+}
+
 const renderer = new CustomMarkdownRenderer({ async: false });
 
 export default {