diff --git a/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/PDEUIMessages.java b/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/PDEUIMessages.java
index 40f3c7d6d9d..7780e958585 100644
--- a/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/PDEUIMessages.java
+++ b/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/PDEUIMessages.java
@@ -1095,6 +1095,7 @@ public class PDEUIMessages extends NLS {
 
 	public static String TracingBlock_restore_default;
 	public static String TracingBlock_restore_default_selected;
+	public static String TracingBlock_initializing_tracing;
 
 	public static String TracingLauncherTab_name;
 	public static String TracingLauncherTab_tracing;
diff --git a/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/launcher/TracingBlock.java b/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/launcher/TracingBlock.java
index dee79437636..590b3c5238e 100644
--- a/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/launcher/TracingBlock.java
+++ b/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/launcher/TracingBlock.java
@@ -18,6 +18,7 @@
 
 import static org.eclipse.swt.events.SelectionListener.widgetSelectedAdapter;
 
+import java.lang.reflect.InvocationTargetException;
 import java.util.ArrayList;
 import java.util.Enumeration;
 import java.util.HashMap;
@@ -28,9 +29,12 @@
 import java.util.StringTokenizer;
 
 import org.eclipse.core.runtime.CoreException;
+import org.eclipse.core.runtime.IProgressMonitor;
 import org.eclipse.debug.core.ILaunchConfiguration;
 import org.eclipse.debug.core.ILaunchConfigurationWorkingCopy;
 import org.eclipse.jface.dialogs.IDialogSettings;
+import org.eclipse.jface.operation.IRunnableContext;
+import org.eclipse.jface.operation.IRunnableWithProgress;
 import org.eclipse.jface.viewers.ArrayContentProvider;
 import org.eclipse.jface.viewers.CheckboxTableViewer;
 import org.eclipse.jface.viewers.IStructuredSelection;
@@ -276,17 +280,24 @@ protected int createPropertySheet(Composite parent) {
 		return style == SWT.NULL ? 2 : 0;
 	}
 
-	public void initializeFrom(ILaunchConfiguration config) {
+	public void initializeFrom(ILaunchConfiguration config, IRunnableContext context) {
 		fMasterOptions.clear();
 		disposePropertySources();
 		try {
 			fTracingCheck.setSelection(config.getAttribute(IPDELauncherConstants.TRACING, false));
 			Map<String, String> options = config.getAttribute(IPDELauncherConstants.TRACING_OPTIONS, (Map<String, String>) null);
-			if (options == null) {
-				fMasterOptions.putAll(PDECore.getDefault().getTracingOptionsManager().getTracingTemplateCopy());
-			} else {
-				fMasterOptions.putAll(PDECore.getDefault().getTracingOptionsManager().getTracingOptions(options));
-			}
+
+			// Calculating the tracing properties might be expensive
+			runShowingProgress(context, progressMonitor -> {
+				progressMonitor.beginTask(PDEUIMessages.TracingBlock_initializing_tracing, IProgressMonitor.UNKNOWN);
+
+				final Properties properties = (options == null)
+						? PDECore.getDefault().getTracingOptionsManager().getTracingTemplateCopy()
+						: PDECore.getDefault().getTracingOptionsManager().getTracingOptions(options);
+
+				fMasterOptions.putAll(properties);
+			});
+
 			masterCheckChanged(false);
 			String checked = config.getAttribute(IPDELauncherConstants.TRACING_CHECKED, (String) null);
 			if (checked == null) {
@@ -323,6 +334,14 @@ public void initializeFrom(ILaunchConfiguration config) {
 		}
 	}
 
+	private void runShowingProgress(IRunnableContext context, IRunnableWithProgress runnable) {
+		try {
+			context.run(true, false, runnable);
+		} catch (InvocationTargetException | InterruptedException e) {
+			PDEPlugin.logException(e);
+		}
+	}
+
 	public void performApply(ILaunchConfigurationWorkingCopy config) {
 		boolean tracingEnabled = fTracingCheck.getSelection();
 		config.setAttribute(IPDELauncherConstants.TRACING, tracingEnabled);
diff --git a/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/pderesources.properties b/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/pderesources.properties
index b7fc95737c7..a5b57c10f67 100644
--- a/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/pderesources.properties
+++ b/ui/org.eclipse.pde.ui/src/org/eclipse/pde/internal/ui/pderesources.properties
@@ -601,6 +601,7 @@ TracingTab_AttributeLabel_TracingNone=Tracing select none
 
 TracingBlock_restore_default=Restore &All to Defaults
 TracingBlock_restore_default_selected=Restore &Selected to Defaults
+TracingBlock_initializing_tracing=Initializing tracing
 TracingLauncherTab_name = Trac&ing
 TracingLauncherTab_tracing =&Enable tracing
 TracingLauncherTab_enableAll = E&nable All
diff --git a/ui/org.eclipse.pde.ui/src/org/eclipse/pde/ui/launcher/TracingTab.java b/ui/org.eclipse.pde.ui/src/org/eclipse/pde/ui/launcher/TracingTab.java
index 75aa4308a82..80668ba5424 100644
--- a/ui/org.eclipse.pde.ui/src/org/eclipse/pde/ui/launcher/TracingTab.java
+++ b/ui/org.eclipse.pde.ui/src/org/eclipse/pde/ui/launcher/TracingTab.java
@@ -81,7 +81,7 @@ public void dispose() {
 
 	@Override
 	public void initializeFrom(ILaunchConfiguration config) {
-		fTracingBlock.initializeFrom(config);
+		fTracingBlock.initializeFrom(config, getLaunchConfigurationDialog());
 	}
 
 	@Override