diff --git a/python/pyarrow/error.pxi b/python/pyarrow/error.pxi
index f9e45f238df21..2866848272ab6 100644
--- a/python/pyarrow/error.pxi
+++ b/python/pyarrow/error.pxi
@@ -188,8 +188,8 @@ cdef class SignalStopHandler:
                 if signal.getsignal(sig) not in (signal.SIG_DFL,
                                                  signal.SIG_IGN, None)]
 
+        self._stop_token = StopToken()
         if not self._signals.empty():
-            self._stop_token = StopToken()
             self._stop_token.init(GetResultValue(
                 SetSignalStopSource()).token())
             self._enabled = True
diff --git a/python/pyarrow/tests/test_csv.py b/python/pyarrow/tests/test_csv.py
index 395f9486315f5..34ab556b76990 100644
--- a/python/pyarrow/tests/test_csv.py
+++ b/python/pyarrow/tests/test_csv.py
@@ -942,6 +942,14 @@ def signal_from_thread():
         assert isinstance(e, pa.ArrowCancelled)
         assert e.signum == signal.SIGINT
 
+    def test_cancellation_disabled(self):
+        # ARROW-12622: reader would segfault when the cancelling signal
+        # handler was not enabled (e.g. if disabled, or if not on the
+        # main thread)
+        t = threading.Thread(target=lambda: self.read_bytes(b"f64\n0.1"))
+        t.start()
+        t.join()
+
 
 class TestSerialCSVRead(BaseTestCSVRead, unittest.TestCase):