diff --git a/packages/block-editor/src/components/block-inspector/index.js b/packages/block-editor/src/components/block-inspector/index.js
index a91c072d94cc76..2a8f7ffeb40dbc 100644
--- a/packages/block-editor/src/components/block-inspector/index.js
+++ b/packages/block-editor/src/components/block-inspector/index.js
@@ -12,7 +12,7 @@ import {
 	PanelBody,
 	__experimentalUseSlot as useSlot,
 } from '@wordpress/components';
-import { withSelect } from '@wordpress/data';
+import { useSelect } from '@wordpress/data';
 
 /**
  * Internal dependencies
@@ -29,14 +29,40 @@ import useBlockDisplayInformation from '../use-block-display-information';
 import { store as blockEditorStore } from '../../store';
 
 const BlockInspector = ( {
-	blockType,
-	count,
-	hasBlockStyles,
-	selectedBlockClientId,
-	selectedBlockName,
 	showNoBlockSelectedMessage = true,
 	bubblesVirtually = true,
 } ) => {
+	const {
+		count,
+		hasBlockStyles,
+		selectedBlockName,
+		selectedBlockClientId,
+		blockType,
+	} = useSelect( ( select ) => {
+		const {
+			getSelectedBlockClientId,
+			getSelectedBlockCount,
+			getBlockName,
+		} = select( blockEditorStore );
+		const { getBlockStyles } = select( blocksStore );
+
+		const _selectedBlockClientId = getSelectedBlockClientId();
+		const _selectedBlockName =
+			_selectedBlockClientId && getBlockName( _selectedBlockClientId );
+		const _blockType =
+			_selectedBlockName && getBlockType( _selectedBlockName );
+		const blockStyles =
+			_selectedBlockName && getBlockStyles( _selectedBlockName );
+
+		return {
+			count: getSelectedBlockCount(),
+			selectedBlockClientId: _selectedBlockClientId,
+			selectedBlockName: _selectedBlockName,
+			blockType: _blockType,
+			hasBlockStyles: blockStyles && blockStyles.length > 0,
+		};
+	}, [] );
+
 	if ( count > 1 ) {
 		return (
 			<div className="block-editor-block-inspector">
@@ -133,25 +159,4 @@ const AdvancedControls = ( { slotName, bubblesVirtually } ) => {
 	);
 };
 
-export default withSelect( ( select ) => {
-	const {
-		getSelectedBlockClientId,
-		getSelectedBlockCount,
-		getBlockName,
-	} = select( blockEditorStore );
-	const { getBlockStyles } = select( blocksStore );
-	const selectedBlockClientId = getSelectedBlockClientId();
-	const selectedBlockName =
-		selectedBlockClientId && getBlockName( selectedBlockClientId );
-	const blockType =
-		selectedBlockClientId && getBlockType( selectedBlockName );
-	const blockStyles =
-		selectedBlockClientId && getBlockStyles( selectedBlockName );
-	return {
-		count: getSelectedBlockCount(),
-		hasBlockStyles: blockStyles && blockStyles.length > 0,
-		selectedBlockName,
-		selectedBlockClientId,
-		blockType,
-	};
-} )( BlockInspector );
+export default BlockInspector;
diff --git a/packages/block-editor/src/components/block-styles/index.js b/packages/block-editor/src/components/block-styles/index.js
index 2bcf224506e315..dd438e0bfbad66 100644
--- a/packages/block-editor/src/components/block-styles/index.js
+++ b/packages/block-editor/src/components/block-styles/index.js
@@ -25,17 +25,25 @@ import { getActiveStyle, replaceActiveStyle } from './utils';
 import BlockPreview from '../block-preview';
 import { store as blockEditorStore } from '../../store';
 
-const useGenericPreviewBlock = ( block, type ) =>
-	useMemo(
-		() =>
-			type.example
-				? getBlockFromExample( block.name, {
-						attributes: type.example.attributes,
-						innerBlocks: type.example.innerBlocks,
-				  } )
-				: cloneBlock( block ),
-		[ type.example ? block.name : block, type ]
-	);
+const EMPTY_OBJECT = {};
+
+function useGenericPreviewBlock( block, type ) {
+	return useMemo( () => {
+		const example = type?.example;
+		const blockName = type?.name;
+
+		if ( example && blockName ) {
+			return getBlockFromExample( blockName, {
+				attributes: example.attributes,
+				innerBlocks: example.innerBlocks,
+			} );
+		}
+
+		if ( block ) {
+			return cloneBlock( block );
+		}
+	}, [ type?.example ? block?.name : block, type ] );
+}
 
 function BlockStyles( {
 	clientId,
@@ -45,9 +53,14 @@ function BlockStyles( {
 } ) {
 	const selector = ( select ) => {
 		const { getBlock } = select( blockEditorStore );
-		const { getBlockStyles } = select( blocksStore );
 		const block = getBlock( clientId );
+
+		if ( ! block ) {
+			return EMPTY_OBJECT;
+		}
+
 		const blockType = getBlockType( block.name );
+		const { getBlockStyles } = select( blocksStore );
 		return {
 			block,
 			type: blockType,
diff --git a/packages/e2e-tests/specs/editor/various/reusable-blocks.test.js b/packages/e2e-tests/specs/editor/various/reusable-blocks.test.js
index d99aed303ba494..e1087a10fe3297 100644
--- a/packages/e2e-tests/specs/editor/various/reusable-blocks.test.js
+++ b/packages/e2e-tests/specs/editor/various/reusable-blocks.test.js
@@ -322,4 +322,36 @@ describe( 'Reusable blocks', () => {
 		// Check that there's only a paragraph.
 		expect( await getEditedPostContent() ).toMatchSnapshot();
 	} );
+
+	// Test for regressions of https://github.com/WordPress/gutenberg/issues/27243.
+	it( 'should allow a block with styles to be converted to a reusable block', async () => {
+		// Insert a quote and reload the page.
+		insertBlock( 'Quote' );
+		await saveDraft();
+		await page.reload();
+
+		// The quote block should have a visible preview in the sidebar for this test to be valid.
+		const quoteBlock = await page.waitForSelector(
+			'.block-editor-block-list__block[aria-label="Block: Quote"]'
+		);
+		await quoteBlock.click();
+		await openDocumentSettingsSidebar();
+		await page.waitForXPath(
+			'//*[@role="region"][@aria-label="Editor settings"]//button[.="Styles"]'
+		);
+
+		// Convert to reusable.
+		await clickBlockToolbarButton( 'Options' );
+		await clickMenuItem( 'Add to Reusable blocks' );
+		const nameInput = await page.waitForSelector(
+			reusableBlockNameInputSelector
+		);
+		await nameInput.click();
+		await page.keyboard.type( 'Block with styles' );
+		await page.keyboard.press( 'Enter' );
+		const reusableBlock = await page.waitForSelector(
+			'.block-editor-block-list__block[aria-label="Block: Reusable block"]'
+		);
+		expect( reusableBlock ).toBeTruthy();
+	} );
 } );