diff --git a/CHANGES.md b/CHANGES.md
index 09954f2b738..7d2e0bc09d1 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -45,6 +45,9 @@
 
 <!-- Changes to Black's terminal output and error messages -->
 
+- Change from deprecated `asyncio.get_event_loop()` to create our event loop which
+  removes DeprecationWarning (#3164)
+
 ### Packaging
 
 <!-- Changes to how Black is packaged, such as dependency requirements -->
diff --git a/src/black/__init__.py b/src/black/__init__.py
index 2d04cf81910..d2df1cbee7c 100644
--- a/src/black/__init__.py
+++ b/src/black/__init__.py
@@ -773,7 +773,6 @@ def reformat_many(
     from concurrent.futures import Executor, ThreadPoolExecutor, ProcessPoolExecutor
 
     executor: Executor
-    loop = asyncio.get_event_loop()
     worker_count = workers if workers is not None else DEFAULT_WORKERS
     if sys.platform == "win32":
         # Work around https://bugs.python.org/issue26903
@@ -788,6 +787,8 @@ def reformat_many(
         # any good due to the Global Interpreter Lock)
         executor = ThreadPoolExecutor(max_workers=1)
 
+    loop = asyncio.new_event_loop()
+    asyncio.set_event_loop(loop)
     try:
         loop.run_until_complete(
             schedule_formatting(
@@ -801,7 +802,10 @@ def reformat_many(
             )
         )
     finally:
-        shutdown(loop)
+        try:
+            shutdown(loop)
+        finally:
+            asyncio.set_event_loop(None)
         if executor is not None:
             executor.shutdown()