diff --git a/packages/shiki/src/renderer.ts b/packages/shiki/src/renderer.ts
index bc6a948d8..48fc37874 100644
--- a/packages/shiki/src/renderer.ts
+++ b/packages/shiki/src/renderer.ts
@@ -33,5 +33,5 @@ export function renderToHtml(lines: IThemedToken[][], options: HtmlRendererOptio
 }
 
 function escapeHtml(html: string) {
-  return html.replace(/</g, '&lt;').replace(/>/g, '&gt;')
+  return html.replace(/&/g, '&amp;').replace(/</g, '&lt;').replace(/>/g, '&gt;')
 }
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