diff --git a/esphome/components/template/select/__init__.py b/esphome/components/template/select/__init__.py
index 566fb2996a..8de0b65c2d 100644
--- a/esphome/components/template/select/__init__.py
+++ b/esphome/components/template/select/__init__.py
@@ -10,7 +10,10 @@ from esphome.const import (
     CONF_OPTIONS,
     CONF_RESTORE_VALUE,
     CONF_SET_ACTION,
+    CONF_UPDATE_INTERVAL,
+    SCHEDULER_DONT_RUN,
 )
+from esphome.core import TimePeriodMilliseconds
 from esphome.cpp_generator import TemplateArguments
 
 from .. import template_ns
@@ -103,7 +106,13 @@ async def to_code(config):
         var_id,
         TemplateArguments(has_lambda, optimistic, restore_value, initial_option_index),
     )
-    await cg.register_component(var, config)
+    component_config = config.copy()
+    if not has_lambda:
+        # No point in polling if not using a lambda
+        component_config[CONF_UPDATE_INTERVAL] = TimePeriodMilliseconds(
+            milliseconds=SCHEDULER_DONT_RUN
+        )
+    await cg.register_component(var, component_config)
     await select.register_select(var, config, options=options)
 
     if CONF_LAMBDA in config:
diff --git a/esphome/components/template/select/template_select.cpp b/esphome/components/template/select/template_select.cpp
index 5a7b6400c6..f6871cf186 100644
--- a/esphome/components/template/select/template_select.cpp
+++ b/esphome/components/template/select/template_select.cpp
@@ -3,17 +3,17 @@
 
 namespace esphome::template_ {
 
-void dump_config_helper(BaseTemplateSelect *this_, bool optimistic, bool has_lambda, const size_t initial_option_index,
-                        bool restore_value) {
-  LOG_SELECT("", "Template Select", this_);
+void dump_config_helper(BaseTemplateSelect *sel_comp, bool optimistic, bool has_lambda,
+                        const size_t initial_option_index, bool restore_value) {
+  LOG_SELECT("", "Template Select", sel_comp);
   if (has_lambda) {
-    LOG_UPDATE_INTERVAL((PollingComponent *) this_);
+    LOG_UPDATE_INTERVAL(sel_comp);
   } else {
     ESP_LOGCONFIG(TAG,
                   "  Optimistic: %s\n"
                   "  Initial Option: %s\n"
                   "  Restore Value: %s",
-                  YESNO(optimistic), this_->option_at(initial_option_index), YESNO(restore_value));
+                  YESNO(optimistic), sel_comp->option_at(initial_option_index), YESNO(restore_value));
   }
 }
 }  // namespace esphome::template_
diff --git a/esphome/components/template/select/template_select.h b/esphome/components/template/select/template_select.h
index 8f1cacc5a0..739d13e298 100644
--- a/esphome/components/template/select/template_select.h
+++ b/esphome/components/template/select/template_select.h
@@ -12,7 +12,7 @@ static const char *const TAG = "template.select";
 struct Empty {};
 class BaseTemplateSelect : public select::Select, public PollingComponent {};
 
-void dump_config_helper(BaseTemplateSelect *this_, bool optimistic, bool has_lambda, size_t initial_option_index,
+void dump_config_helper(BaseTemplateSelect *sel_comp, bool optimistic, bool has_lambda, size_t initial_option_index,
                         bool restore_value);
 
 /// Base template select class - used when no set_action is configured