diff --git a/python/helpers/py2ipnb_converter.py b/python/helpers/py2ipnb_converter.py
new file mode 100644
index 000000000000..5d538379cede
--- /dev/null
+++ b/python/helpers/py2ipnb_converter.py
@@ -0,0 +1,32 @@
+import sys
+import nbformat
+from nbformat.v4 import new_code_cell, new_notebook
+
+import codecs
+
+name = sys.argv[-1][:-3]
+source = name + ".py"
+target = name + ".ipynb"
+
+
+def parse_python(file):
+    with open(file, "r") as file_descriptor:
+        lines = []
+        for line in file_descriptor:
+            line = line.strip()
+            if line.startswith('# In[') and line.endswith(']:') and lines:
+                yield "".join(lines)
+                lines = []
+                continue
+            lines.append(line)
+        if lines:
+            yield "".join(lines)
+
+cells = []
+for cell_content in parse_python(source):
+    cells.append(new_code_cell(source=cell_content))
+
+nb0 = new_notebook(cells=cells, metadata={'language': 'python',})
+
+with codecs.open(target, encoding='utf-8', mode='w') as f:
+    nbformat.write(nb0, f, 4)
diff --git a/python/ipnb/resources/META-INF/ipython-notebook.xml b/python/ipnb/resources/META-INF/ipython-notebook.xml
index 36f48a4a803f..1b96878b62f2 100644
--- a/python/ipnb/resources/META-INF/ipython-notebook.xml
+++ b/python/ipnb/resources/META-INF/ipython-notebook.xml
@@ -49,6 +49,11 @@
     <action class="org.jetbrains.plugins.ipnb.editor.actions.IpnbConvertToPythonAction" id="IpnbConvertToPythonAction"
             text="Convert to Python Script"/>
 
+    <action class="org.jetbrains.plugins.ipnb.editor.actions.IpnbConvertFromPythonAction" id="IpnbConvertFromPythonAction"
+            text="Convert to Jupyter Notebook">
+      <add-to-group group-id="ToolsMenu" anchor="last"/>
+    </action>
+
     <action class="org.jetbrains.plugins.ipnb.editor.actions.IpnbMoveCellDownAction" id="IpnbMoveCellDownAction" text="Move Cell Down">
       <keyboard-shortcut keymap="$default" first-keystroke="ctrl shift DOWN"/>
     </action>
diff --git a/python/ipnb/src/org/jetbrains/plugins/ipnb/editor/actions/IpnbConvertFromPythonAction.java b/python/ipnb/src/org/jetbrains/plugins/ipnb/editor/actions/IpnbConvertFromPythonAction.java
new file mode 100644
index 000000000000..db58f56ddc7a
--- /dev/null
+++ b/python/ipnb/src/org/jetbrains/plugins/ipnb/editor/actions/IpnbConvertFromPythonAction.java
@@ -0,0 +1,69 @@
+package org.jetbrains.plugins.ipnb.editor.actions;
+
+import com.intellij.openapi.actionSystem.AnAction;
+import com.intellij.openapi.actionSystem.AnActionEvent;
+import com.intellij.openapi.actionSystem.CommonDataKeys;
+import com.intellij.openapi.actionSystem.DataContext;
+import com.intellij.openapi.module.Module;
+import com.intellij.openapi.project.Project;
+import com.intellij.openapi.projectRoots.Sdk;
+import com.intellij.openapi.roots.ProjectFileIndex;
+import com.intellij.openapi.vfs.VfsUtil;
+import com.intellij.openapi.vfs.VirtualFile;
+import com.intellij.psi.PsiFile;
+import com.jetbrains.python.PythonHelpersLocator;
+import com.jetbrains.python.psi.PyFile;
+import com.jetbrains.python.sdk.PySdkUtil;
+import com.jetbrains.python.sdk.PythonSdkType;
+import icons.PythonIcons;
+import org.jetbrains.annotations.NotNull;
+
+public class IpnbConvertFromPythonAction extends AnAction {
+  public IpnbConvertFromPythonAction() {
+    super(PythonIcons.Python.IpythonNotebook);
+  }
+
+  @Override
+  public void actionPerformed(@NotNull AnActionEvent event) {
+    final DataContext context = event.getDataContext();
+    final VirtualFile virtualFile = CommonDataKeys.VIRTUAL_FILE.getData(context);
+    final Project project = CommonDataKeys.PROJECT.getData(context);
+    convertFromPythonScript(virtualFile, project);
+  }
+
+  @Override
+  public void update(AnActionEvent e) {
+    e.getPresentation().setEnabled(true);
+    e.getPresentation().setVisible(true);
+
+    final DataContext context = e.getDataContext();
+    final PsiFile psiFile = CommonDataKeys.PSI_FILE.getData(context);
+    if (!(psiFile instanceof PyFile)) {
+      e.getPresentation().setEnabled(false);
+      e.getPresentation().setVisible(false);
+    }
+    final VirtualFile virtualFile = CommonDataKeys.VIRTUAL_FILE.getData(context);
+    final Project project = CommonDataKeys.PROJECT.getData(context);
+    if (virtualFile == null || project == null) {
+      e.getPresentation().setEnabled(false);
+    }
+  }
+
+  public static void convertFromPythonScript(VirtualFile virtualFile, Project project) {
+    Module module = ProjectFileIndex.SERVICE.getInstance(project).getModuleForFile(virtualFile);
+    if (module == null) return;
+
+    final Sdk sdk = PythonSdkType.findPythonSdk(module);
+    if (sdk == null) {
+      return;
+    }
+    final String homePath = sdk.getHomePath();
+    if (homePath == null) {
+      return;
+    }
+
+    PySdkUtil.getProcessOutput(virtualFile.getParent().getPath(), new String[]{homePath,
+      PythonHelpersLocator.getHelperPath("py2ipnb_converter.py"), virtualFile.getPath()});
+    VfsUtil.markDirtyAndRefresh(true, false, true, virtualFile.getParent());
+  }
+}