diff --git a/packages/grafana-ui/src/components/Monaco/CodeEditor.mdx b/packages/grafana-ui/src/components/Monaco/CodeEditor.mdx
index f229f70172f..cf7b81bbe9b 100644
--- a/packages/grafana-ui/src/components/Monaco/CodeEditor.mdx
+++ b/packages/grafana-ui/src/components/Monaco/CodeEditor.mdx
@@ -1,5 +1,5 @@
 import { Meta, Story, Preview, Props } from '@storybook/addon-docs/blocks';
-import { CodeEditor } from './CodeEditorLazy';
+import { CodeEditor } from './CodeEditor';
 
 <Meta title="MDX|CodeEditor" component={CodeEditor} />
 
diff --git a/packages/grafana-ui/src/components/Monaco/CodeEditor.story.internal.tsx b/packages/grafana-ui/src/components/Monaco/CodeEditor.story.internal.tsx
index 87e8934b10e..507693571f0 100644
--- a/packages/grafana-ui/src/components/Monaco/CodeEditor.story.internal.tsx
+++ b/packages/grafana-ui/src/components/Monaco/CodeEditor.story.internal.tsx
@@ -3,7 +3,7 @@ import { Meta, Story } from '@storybook/react';
 import { action } from '@storybook/addon-actions';
 import { withCenteredStory } from '../../utils/storybook/withCenteredStory';
 import mdx from './CodeEditor.mdx';
-import { CodeEditor } from './CodeEditorLazy';
+import { CodeEditor } from './CodeEditor';
 
 export default {
   title: 'CodeEditor',
diff --git a/packages/grafana-ui/src/components/Monaco/CodeEditor.tsx b/packages/grafana-ui/src/components/Monaco/CodeEditor.tsx
index 16026ffd0a1..ec056ad9cc5 100644
--- a/packages/grafana-ui/src/components/Monaco/CodeEditor.tsx
+++ b/packages/grafana-ui/src/components/Monaco/CodeEditor.tsx
@@ -1,6 +1,6 @@
 import React from 'react';
 import { css } from '@emotion/css';
-import MonacoEditor, { loader as monacoEditorLoader } from '@monaco-editor/react';
+import { ReactMonacoEditorLazy } from './ReactMonacoEditorLazy';
 import type * as monacoType from 'monaco-editor/esm/vs/editor/editor.api';
 import { selectors } from '@grafana/e2e-selectors';
 import { GrafanaTheme2, monacoLanguageRegistry } from '@grafana/data';
@@ -14,27 +14,12 @@ import defineThemes from './theme';
 
 type Props = CodeEditorProps & Themeable2;
 
-let initalized = false;
-function initMonoco() {
-  if (initalized) {
-    return;
-  }
-
-  monacoEditorLoader.config({
-    paths: {
-      vs: (window.__grafana_public_path__ ?? 'public/') + 'lib/monaco/min/vs',
-    },
-  });
-  initalized = true;
-}
-
 class UnthemedCodeEditor extends React.PureComponent<Props> {
   completionCancel?: monacoType.IDisposable;
   monaco?: Monaco;
 
   constructor(props: Props) {
     super(props);
-    initMonoco();
   }
 
   componentWillUnmount() {
@@ -154,7 +139,7 @@ class UnthemedCodeEditor extends React.PureComponent<Props> {
 
     return (
       <div className={styles.container} onBlur={this.onBlur} aria-label={selectors.components.CodeEditor.container}>
-        <MonacoEditor
+        <ReactMonacoEditorLazy
           width={width}
           height={height}
           language={language}
@@ -172,7 +157,7 @@ class UnthemedCodeEditor extends React.PureComponent<Props> {
   }
 }
 
-export default withTheme2(UnthemedCodeEditor);
+export const CodeEditor = withTheme2(UnthemedCodeEditor);
 
 const getStyles = (theme: GrafanaTheme2) => {
   return {
diff --git a/packages/grafana-ui/src/components/Monaco/CodeEditorLazy.tsx b/packages/grafana-ui/src/components/Monaco/CodeEditorLazy.tsx
deleted file mode 100644
index 918416c8f27..00000000000
--- a/packages/grafana-ui/src/components/Monaco/CodeEditorLazy.tsx
+++ /dev/null
@@ -1,27 +0,0 @@
-import React from 'react';
-import { useAsyncDependency } from '../../utils/useAsyncDependency';
-import { ErrorWithStack, LoadingPlaceholder } from '..';
-import { CodeEditorProps } from './types';
-
-export const CodeEditor: React.FC<CodeEditorProps> = (props) => {
-  const { loading, error, dependency } = useAsyncDependency(
-    import(/* webpackChunkName: "code-editor" */ './CodeEditor')
-  );
-
-  if (loading) {
-    return <LoadingPlaceholder text={''} />;
-  }
-
-  if (error) {
-    return (
-      <ErrorWithStack
-        title="Code editor failed to load"
-        error={error}
-        errorInfo={{ componentStack: error?.stack || '' }}
-      />
-    );
-  }
-
-  const CodeEditor = dependency.default;
-  return <CodeEditor {...props} />;
-};
diff --git a/packages/grafana-ui/src/components/Monaco/ReactMonacoEditor.tsx b/packages/grafana-ui/src/components/Monaco/ReactMonacoEditor.tsx
new file mode 100644
index 00000000000..61de48cc74e
--- /dev/null
+++ b/packages/grafana-ui/src/components/Monaco/ReactMonacoEditor.tsx
@@ -0,0 +1,21 @@
+import React from 'react';
+import MonacoEditor, { loader as monacoEditorLoader, EditorProps as MonacoEditorProps } from '@monaco-editor/react';
+
+let initalized = false;
+function initMonaco() {
+  if (initalized) {
+    return;
+  }
+
+  monacoEditorLoader.config({
+    paths: {
+      vs: (window.__grafana_public_path__ ?? 'public/') + 'lib/monaco/min/vs',
+    },
+  });
+  initalized = true;
+}
+
+export const ReactMonacoEditor = (props: MonacoEditorProps) => {
+  initMonaco();
+  return <MonacoEditor {...props} />;
+};
diff --git a/packages/grafana-ui/src/components/Monaco/ReactMonacoEditorLazy.tsx b/packages/grafana-ui/src/components/Monaco/ReactMonacoEditorLazy.tsx
new file mode 100644
index 00000000000..073b0d1d643
--- /dev/null
+++ b/packages/grafana-ui/src/components/Monaco/ReactMonacoEditorLazy.tsx
@@ -0,0 +1,32 @@
+import React from 'react';
+import { useAsyncDependency } from '../../utils/useAsyncDependency';
+import { ErrorWithStack, LoadingPlaceholder } from '..';
+// we only use import type so it will not be included in the bundle
+import type { EditorProps } from '@monaco-editor/react';
+
+/**
+ * @internal
+ * Experimental export
+ **/
+export const ReactMonacoEditorLazy = (props: EditorProps) => {
+  const { loading, error, dependency } = useAsyncDependency(
+    import(/* webpackChunkName: "react-monaco-editor" */ './ReactMonacoEditor')
+  );
+
+  if (loading) {
+    return <LoadingPlaceholder text={''} />;
+  }
+
+  if (error) {
+    return (
+      <ErrorWithStack
+        title="React Monaco Editor failed to load"
+        error={error}
+        errorInfo={{ componentStack: error?.stack || '' }}
+      />
+    );
+  }
+
+  const ReactMonacoEditor = dependency.ReactMonacoEditor;
+  return <ReactMonacoEditor {...props} />;
+};
diff --git a/packages/grafana-ui/src/components/index.ts b/packages/grafana-ui/src/components/index.ts
index 9de67699ed4..9cd19f0741d 100644
--- a/packages/grafana-ui/src/components/index.ts
+++ b/packages/grafana-ui/src/components/index.ts
@@ -41,7 +41,10 @@ export { ConfirmModal, ConfirmModalProps } from './ConfirmModal/ConfirmModal';
 export { QueryField } from './QueryField/QueryField';
 
 // Code editor
-export { CodeEditor } from './Monaco/CodeEditorLazy';
+export { CodeEditor } from './Monaco/CodeEditor';
+
+export { ReactMonacoEditorLazy as ReactMonacoEditor } from './Monaco/ReactMonacoEditorLazy';
+
 export {
   Monaco,
   monacoTypes,