diff --git a/lib/liquid/block.rb b/lib/liquid/block.rb
index eed0475..d9547c7 100644
--- a/lib/liquid/block.rb
+++ b/lib/liquid/block.rb
@@ -1,5 +1,7 @@
 module Liquid
   class Block < Tag
+    MAX_DEPTH = 100
+
     def initialize(tag_name, markup, options)
       super
       @blank = true
@@ -48,17 +50,25 @@ module Liquid
     protected
 
     def parse_body(body, tokens)
-      body.parse(tokens, parse_context) do |end_tag_name, end_tag_params|
-        @blank &&= body.blank?
+      if parse_context.depth >= MAX_DEPTH
+        raise StackLevelError, "Nesting too deep".freeze
+      end
+      parse_context.depth += 1
+      begin
+        body.parse(tokens, parse_context) do |end_tag_name, end_tag_params|
+          @blank &&= body.blank?
 
-        return false if end_tag_name == block_delimiter
-        unless end_tag_name
-          raise SyntaxError.new(parse_context.locale.t("errors.syntax.tag_never_closed".freeze, block_name: block_name))
+          return false if end_tag_name == block_delimiter
+          unless end_tag_name
+            raise SyntaxError.new(parse_context.locale.t("errors.syntax.tag_never_closed".freeze, block_name: block_name))
+          end
+
+          # this tag is not registered with the system
+          # pass it to the current block for special handling or error reporting
+          unknown_tag(end_tag_name, end_tag_params, tokens)
         end
-
-        # this tag is not registered with the system
-        # pass it to the current block for special handling or error reporting
-        unknown_tag(end_tag_name, end_tag_params, tokens)
+      ensure
+        parse_context.depth -= 1
       end
 
       true
diff --git a/lib/liquid/context.rb b/lib/liquid/context.rb
index 566c5c6..34051a1 100644
--- a/lib/liquid/context.rb
+++ b/lib/liquid/context.rb
@@ -89,7 +89,7 @@ module Liquid
     # Push new local scope on the stack. use <tt>Context#stack</tt> instead
     def push(new_scope = {})
       @scopes.unshift(new_scope)
-      raise StackLevelError, "Nesting too deep".freeze if @scopes.length > 100
+      raise StackLevelError, "Nesting too deep".freeze if @scopes.length > Block::MAX_DEPTH
     end
 
     # Merge a hash of variables in the current local scope
diff --git a/lib/liquid/parse_context.rb b/lib/liquid/parse_context.rb
index 34986dd..abcdaeb 100644
--- a/lib/liquid/parse_context.rb
+++ b/lib/liquid/parse_context.rb
@@ -1,12 +1,13 @@
 module Liquid
   class ParseContext
-    attr_accessor :locale, :line_number, :trim_whitespace
+    attr_accessor :locale, :line_number, :trim_whitespace, :depth
     attr_reader :partial, :warnings, :error_mode
 
     def initialize(options = {})
       @template_options = options ? options.dup : {}
       @locale = @template_options[:locale] ||= I18n.new
       @warnings = []
+      self.depth = 0
       self.partial = false
     end
 
diff --git a/test/integration/security_test.rb b/test/integration/security_test.rb
index 0357498..f603ff0 100644
--- a/test/integration/security_test.rb
+++ b/test/integration/security_test.rb
@@ -63,4 +63,18 @@ class SecurityTest < Minitest::Test
 
     assert_equal [], (Symbol.all_symbols - current_symbols)
   end
+
+  def test_max_depth_nested_blocks_does_not_raise_exception
+    depth = Liquid::Block::MAX_DEPTH
+    code = "{% if true %}" * depth + "rendered" + "{% endif %}" * depth
+    assert_equal "rendered", Template.parse(code).render!
+  end
+
+  def test_more_than_max_depth_nested_blocks_raises_exception
+    depth = Liquid::Block::MAX_DEPTH + 1
+    code = "{% if true %}" * depth + "rendered" + "{% endif %}" * depth
+    assert_raises(Liquid::StackLevelError) do
+      Template.parse(code).render!
+    end
+  end
 end # SecurityTest
diff --git a/test/integration/tags/include_tag_test.rb b/test/integration/tags/include_tag_test.rb
index 25af662..1d854b0 100644
--- a/test/integration/tags/include_tag_test.rb
+++ b/test/integration/tags/include_tag_test.rb
@@ -137,7 +137,7 @@ class IncludeTagTest < Minitest::Test
 
     Liquid::Template.file_system = infinite_file_system.new
 
-    assert_raises(Liquid::StackLevelError, SystemStackError) do
+    assert_raises(Liquid::StackLevelError) do
       Template.parse("{% include 'loop' %}").render!
     end
   end