diff --git a/isort/core.py b/isort/core.py
index 46bd77f1..a8e33738 100644
--- a/isort/core.py
+++ b/isort/core.py
@@ -244,7 +244,7 @@ def process(
                     code_sorting = stripped_line.split("isort: ")[1].strip()
                     code_sorting_indent = line[: -len(line.lstrip())]
                     not_imports = True
-                elif config.sort_reexports and stripped_line.startswith("__all__"):
+                elif config.sort_reexports and stripped_line.startswith("__all__") and "isort: skip" not in stripped_line:
                     _, rhs = stripped_line.split("=")
                     code_sorting = LITERAL_TYPE_MAPPING.get(rhs.lstrip()[0], "tuple")
                     code_sorting_indent = line[: -len(line.lstrip())]