diff --git a/python/src/com/jetbrains/python/console/PyConsoleStartFolding.java b/python/src/com/jetbrains/python/console/PyConsoleStartFolding.java
new file mode 100644
index 000000000000..289fcdbd7c82
--- /dev/null
+++ b/python/src/com/jetbrains/python/console/PyConsoleStartFolding.java
@@ -0,0 +1,105 @@
+/*
+ * Copyright 2000-2016 JetBrains s.r.o.
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ * http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+package com.jetbrains.python.console;
+
+import com.intellij.openapi.editor.Document;
+import com.intellij.openapi.editor.FoldRegion;
+import com.intellij.openapi.editor.FoldingModel;
+import com.intellij.openapi.editor.event.DocumentAdapter;
+import com.intellij.openapi.editor.event.DocumentEvent;
+import com.intellij.openapi.editor.ex.FoldingListener;
+import com.intellij.util.DocumentUtil;
+import com.jetbrains.python.console.pydev.ConsoleCommunicationListener;
+import org.jetbrains.annotations.NotNull;
+
+public class PyConsoleStartFolding extends DocumentAdapter implements ConsoleCommunicationListener, FoldingListener {
+  private PythonConsoleView myConsoleView;
+  private boolean isFirstCommandWasExecuted = false;
+  private boolean doNotAddFoldingAgain = false;
+  private FoldRegion myStartFoldRegion;
+  private static final String DEFAULT_FOLDING_MESSAGE = "Python Console";
+  private int startLineOffset = 0;
+
+  public PyConsoleStartFolding(PythonConsoleView consoleView) {
+    super();
+    myConsoleView = consoleView;
+  }
+
+  public void setStartLineOffset(int startLineOffset) {
+    this.startLineOffset = startLineOffset;
+  }
+
+  @Override
+  public void documentChanged(DocumentEvent event) {
+    addFolding();
+  }
+
+  private void addFolding() {
+    Document document = myConsoleView.getEditor().getDocument();
+    if (doNotAddFoldingAgain || document.getTextLength() == 0) {
+      return;
+    }
+    FoldingModel foldingModel = myConsoleView.getEditor().getFoldingModel();
+    foldingModel.runBatchFoldingOperation(() -> {
+      int start = startLineOffset;
+      String placeholderText = DEFAULT_FOLDING_MESSAGE;
+      int firstLine = document.getLineNumber(startLineOffset);
+      for (int line = firstLine; line < document.getLineCount(); line++) {
+        String lineText = document.getText(DocumentUtil.getLineTextRange(document, line));
+        if (lineText.startsWith("Python")) {
+          placeholderText = lineText;
+          start = document.getLineStartOffset(line);
+          break;
+        }
+      }
+
+      if (myStartFoldRegion != null) {
+        foldingModel.removeFoldRegion(myStartFoldRegion);
+      }
+      FoldRegion foldRegion = foldingModel.addFoldRegion(start, document.getTextLength() - 1, placeholderText);
+      if (foldRegion != null) {
+        foldRegion.setExpanded(false);
+        myStartFoldRegion = foldRegion;
+      }
+    });
+    if (isFirstCommandWasExecuted) {
+      document.removeDocumentListener(this);
+    }
+  }
+
+  @Override
+  public void commandExecuted(boolean more) {
+    isFirstCommandWasExecuted = true;
+  }
+
+  @Override
+  public void inputRequested() {
+
+  }
+
+  @Override
+  public void onFoldRegionStateChange(@NotNull FoldRegion region) {
+    if (region.equals(myStartFoldRegion) && region.isExpanded()) {
+      myConsoleView.getEditor().getComponent().updateUI();
+      doNotAddFoldingAgain = true;
+    }
+  }
+
+  @Override
+  public void onFoldProcessingEnd() {
+
+  }
+}
diff --git a/python/src/com/jetbrains/python/console/PydevConsoleRunnerImpl.java b/python/src/com/jetbrains/python/console/PydevConsoleRunnerImpl.java
index b551bc98f5b9..50231dbe5f59 100644
--- a/python/src/com/jetbrains/python/console/PydevConsoleRunnerImpl.java
+++ b/python/src/com/jetbrains/python/console/PydevConsoleRunnerImpl.java
@@ -588,7 +588,6 @@ public class PydevConsoleRunnerImpl implements PydevConsoleRunner {
       myConsoleView.attachToProcess(myProcessHandler);
       createContentDescriptorAndActions();
 
-
       // Run
       myProcessHandler.startNotify();
     });
@@ -635,6 +634,7 @@ public class PydevConsoleRunnerImpl implements PydevConsoleRunner {
     final List<AnAction> actions = fillToolBarActions(toolbarActions, contentDescriptor);
     registerActionShortcuts(actions, myConsoleView.getConsoleEditor().getComponent());
     registerActionShortcuts(actions, panel);
+    getConsoleView().addConsoleFolding(false);
 
     showContentDescriptor(contentDescriptor);
   }
diff --git a/python/src/com/jetbrains/python/console/PythonConsoleView.java b/python/src/com/jetbrains/python/console/PythonConsoleView.java
index 2fef442ee2df..cf2734e57a2c 100644
--- a/python/src/com/jetbrains/python/console/PythonConsoleView.java
+++ b/python/src/com/jetbrains/python/console/PythonConsoleView.java
@@ -33,6 +33,7 @@ import com.intellij.openapi.editor.colors.EditorColorsManager;
 import com.intellij.openapi.editor.colors.EditorColorsScheme;
 import com.intellij.openapi.editor.ex.DocumentEx;
 import com.intellij.openapi.editor.ex.EditorEx;
+import com.intellij.openapi.editor.ex.FoldingModelEx;
 import com.intellij.openapi.editor.ex.util.LexerEditorHighlighter;
 import com.intellij.openapi.editor.highlighter.EditorHighlighter;
 import com.intellij.openapi.editor.markup.HighlighterTargetArea;
@@ -114,6 +115,30 @@ public class PythonConsoleView extends LanguageConsoleImpl implements Observable
     getFile().putCopyableUserData(PydevConsoleRunner.CONSOLE_KEY, communication);
   }
 
+  private PyConsoleStartFolding createConsoleFolding() {
+    PyConsoleStartFolding startFolding = new PyConsoleStartFolding(this);
+    myExecuteActionHandler.getConsoleCommunication().addCommunicationListener(startFolding);
+    getEditor().getDocument().addDocumentListener(startFolding);
+    ((FoldingModelEx)getEditor().getFoldingModel()).addListener(startFolding, this);
+    return startFolding;
+  }
+
+  public void addConsoleFolding(boolean isDebugConsole) {
+    try {
+      if (isDebugConsole && myExecuteActionHandler != null) {
+        PyConsoleStartFolding folding = createConsoleFolding();
+        // in debug console we should add folding from the place where the folding was turned on
+        folding.setStartLineOffset(getEditor().getDocument().getTextLength());
+      }
+      else {
+        myInitialized.doWhenDone(this::createConsoleFolding);
+      }
+    }
+    catch (Exception e) {
+      LOG.error(e.getMessage());
+    }
+  }
+
   public void setExecutionHandler(@NotNull PydevConsoleExecuteActionHandler consoleExecuteActionHandler) {
     myExecuteActionHandler = consoleExecuteActionHandler;
   }
diff --git a/python/src/com/jetbrains/python/console/PythonDebugLanguageConsoleView.java b/python/src/com/jetbrains/python/console/PythonDebugLanguageConsoleView.java
index 076c268cc7c7..04129d41ce12 100644
--- a/python/src/com/jetbrains/python/console/PythonDebugLanguageConsoleView.java
+++ b/python/src/com/jetbrains/python/console/PythonDebugLanguageConsoleView.java
@@ -73,6 +73,7 @@ public class PythonDebugLanguageConsoleView extends DuplexConsoleView<ConsoleVie
 
     if (!primary && !isPrimaryConsoleEnabled()) {
       PythonConsoleView console = getPydevConsoleView();
+      console.addConsoleFolding(true);
       console.showStartMessageForFirstExecution(DEBUG_CONSOLE_START_COMMAND);
 
       IdeFocusManager.findInstance().requestFocus(console.getConsoleEditor().getContentComponent(), true);