diff --git a/__tests__/preprocess-embedded-templates-tests.js b/__tests__/preprocess-embedded-templates-tests.js
index 8a70fd03..6d238c18 100644
--- a/__tests__/preprocess-embedded-templates-tests.js
+++ b/__tests__/preprocess-embedded-templates-tests.js
@@ -245,6 +245,55 @@ describe('htmlbars-inline-precompile: preprocessEmbeddedTemplates', () => {
       `);
     });
 
+    it('it does not process templates or tokens in comments', () => {
+      let preprocessed = preprocessEmbeddedTemplates(
+        stripIndent`
+          // <template></template>
+          /* <template></template> */
+          /*
+            <template></template>
+            other tokens
+            \`"'/
+          */
+
+          <template></template>
+        `,
+        TEMPLATE_TAG_CONFIG
+      );
+
+      expect(preprocessed).toMatchInlineSnapshot(`
+        Object {
+          "output": "// <template></template>
+        /* <template></template> */
+        /*
+          <template></template>
+          other tokens
+          \`\\"'/
+        */
+
+        [GLIMMER_TEMPLATE(\`\`)]",
+          "replacements": Array [
+            Object {
+              "index": 106,
+              "newLength": 19,
+              "oldLength": 10,
+              "originalCol": 1,
+              "originalLine": 9,
+              "type": "start",
+            },
+            Object {
+              "index": 116,
+              "newLength": 3,
+              "oldLength": 11,
+              "originalCol": 11,
+              "originalLine": 9,
+              "type": "end",
+            },
+          ],
+        }
+      `);
+    });
+
     it('works with class templates', () => {
       let preprocessed = preprocessEmbeddedTemplates(
         stripIndent`
@@ -621,6 +670,59 @@ describe('htmlbars-inline-precompile: preprocessEmbeddedTemplates', () => {
       `);
     });
 
+    it('it does not process templates or tokens in comments', () => {
+      let preprocessed = preprocessEmbeddedTemplates(
+        stripIndent`
+          import { hbs } from 'ember-template-imports';
+
+          // hbs\`hello\`
+          /* hbs\`hello\` */
+          /*
+            hbs\`hello\`
+            other tokens
+            \`"'/
+          */
+
+          export default hbs\`hello\`;
+        `,
+        TEMPLATE_LITERAL_CONFIG
+      );
+
+      expect(preprocessed).toMatchInlineSnapshot(`
+        Object {
+          "output": "import { hbs } from 'ember-template-imports';
+
+        // hbs\`hello\`
+        /* hbs\`hello\` */
+        /*
+          hbs\`hello\`
+          other tokens
+          \`\\"'/
+        */
+
+        export default hbs(\`hello\`);",
+          "replacements": Array [
+            Object {
+              "index": 135,
+              "newLength": 5,
+              "oldLength": 4,
+              "originalCol": 16,
+              "originalLine": 11,
+              "type": "start",
+            },
+            Object {
+              "index": 144,
+              "newLength": 2,
+              "oldLength": 1,
+              "originalCol": 25,
+              "originalLine": 11,
+              "type": "end",
+            },
+          ],
+        }
+      `);
+    });
+
     it('exposes template identifiers', () => {
       let preprocessed = preprocessEmbeddedTemplates(
         stripIndent`
diff --git a/src/parse-templates.ts b/src/parse-templates.ts
index cf43a58f..6d1d6761 100644
--- a/src/parse-templates.ts
+++ b/src/parse-templates.ts
@@ -19,6 +19,11 @@ export interface TemplateLiteralMatch {
 const escapeChar = '\\';
 const stringOrRegexDelimiter = /['"/]/;
 
+const singleLineCommentStart = /\/\//;
+const newLine = /\n/;
+const multiLineCommentStart = /\/\*/;
+const multiLineCommentEnd = /\*\//;
+
 const templateLiteralStart = /([$a-zA-Z_][0-9a-zA-Z_$]*)?`/;
 const templateLiteralEnd = /`/;
 
@@ -70,7 +75,20 @@ export function parseTemplates(
   const argumentsMatchRegex = new RegExp(`<${templateTag}[^<]*\\S[^<]*>`);
 
   const allTokens = new RegExp(
-    `["'\`/]|([$a-zA-Z_][0-9a-zA-Z_$]*)\`|\\\${|{|}|<${templateTag}[^<]*?>|<\\/${templateTag}>`,
+    [
+      singleLineCommentStart.source,
+      newLine.source,
+      multiLineCommentStart.source,
+      multiLineCommentEnd.source,
+      stringOrRegexDelimiter.source,
+      templateLiteralStart.source,
+      templateLiteralEnd.source,
+      dynamicSegmentStart.source,
+      dynamicSegmentEnd.source,
+      blockStart.source,
+      templateTagStart.source,
+      templateTagEnd.source,
+    ].join('|'),
     'g'
   );
 
@@ -93,21 +111,21 @@ export function parseTemplates(
     tokens: RegExpMatchArray[],
     isTopLevel = false
   ) {
-    if (token[0].match(stringOrRegexDelimiter)) {
-      parseStringOrRegex(results, template, token, tokens);
-    }
-
-    if (token[0].match(templateLiteralStart)) {
+    if (token[0].match(multiLineCommentStart)) {
+      parseMultiLineComment(results, template, token, tokens);
+    } else if (token[0].match(singleLineCommentStart)) {
+      parseSingleLineComment(results, template, token, tokens);
+    } else if (token[0].match(templateLiteralStart)) {
       parseTemplateLiteral(results, template, token, tokens, isTopLevel);
-    }
-
-    if (
+    } else if (
       isTopLevel &&
       templateTag !== undefined &&
       templateTagStart &&
       token[0].match(templateTagStart)
     ) {
       parseTemplateTag(results, template, token, tokens);
+    } else if (token[0].match(stringOrRegexDelimiter)) {
+      parseStringOrRegex(results, template, token, tokens);
     }
   }
 
@@ -130,6 +148,44 @@ export function parseTemplates(
     }
   }
 
+  /**
+   * Parse a string or a regex. All tokens within a string or regex are ignored
+   * since there are no dynamic segments within these.
+   */
+  function parseSingleLineComment(
+    _results: TemplateMatch[],
+    _template: string,
+    _startToken: RegExpMatchArray,
+    tokens: RegExpMatchArray[]
+  ) {
+    while (tokens.length > 0) {
+      const currentToken = expect(tokens.shift(), 'expected token');
+
+      if (currentToken[0] === '\n') {
+        return;
+      }
+    }
+  }
+
+  /**
+   * Parse a string or a regex. All tokens within a string or regex are ignored
+   * since there are no dynamic segments within these.
+   */
+  function parseMultiLineComment(
+    _results: TemplateMatch[],
+    _template: string,
+    _startToken: RegExpMatchArray,
+    tokens: RegExpMatchArray[]
+  ) {
+    while (tokens.length > 0) {
+      const currentToken = expect(tokens.shift(), 'expected token');
+
+      if (currentToken[0] === '*/') {
+        return;
+      }
+    }
+  }
+
   /**
    * Parse a template literal. If a dynamic segment is found, enters the dynamic
    * segment and parses it recursively. If no dynamic segments are found and the