diff --git a/projects/plugins/jetpack/changelog/fix-subscriptions-inline-styles-path b/projects/plugins/jetpack/changelog/fix-subscriptions-inline-styles-path
new file mode 100644
index 000000000000..0e3f5d3cd9c4
--- /dev/null
+++ b/projects/plugins/jetpack/changelog/fix-subscriptions-inline-styles-path
@@ -0,0 +1,4 @@
+Significance: patch
+Type: bugfix
+
+Subscriptions: fix `wp_maybe_inline_styles` notice for the `jetpack-subscriptions` stylesheet by registering a filesystem path instead of a URL.
diff --git a/projects/plugins/jetpack/modules/subscriptions/views.php b/projects/plugins/jetpack/modules/subscriptions/views.php
index f5b35e9ac42b..6a872e7c4dec 100644
--- a/projects/plugins/jetpack/modules/subscriptions/views.php
+++ b/projects/plugins/jetpack/modules/subscriptions/views.php
@@ -114,7 +114,15 @@ public function enqueue_style() {
 			array(),
 			JETPACK__VERSION
 		);
-		wp_style_add_data( 'jetpack-subscriptions', 'path', $path );
+
+		// `wp_maybe_inline_styles()` requires a filesystem path, not a URL.
+		$style_path = JETPACK__PLUGIN_DIR . (
+			/** This filter is documented in projects/plugins/jetpack/load-jetpack.php */
+			apply_filters( 'jetpack_should_use_minified_assets', true )
+				? '_inc/build/subscriptions/subscriptions.min.css'
+				: 'modules/subscriptions/subscriptions.css'
+		);
+		wp_style_add_data( 'jetpack-subscriptions', 'path', $style_path );
 	}
 
 	/**