diff --git a/flask_discord/models/guild.py b/flask_discord/models/guild.py
index e8a6c8d..1bbb319 100644
--- a/flask_discord/models/guild.py
+++ b/flask_discord/models/guild.py
@@ -32,5 +32,7 @@ class Guild(object):
 
     @property
     def icon_url(self):
-        """A property returning direct URL to the guild's icon."""
+        """A property returning direct URL to the guild's icon. Returns None if guild has no icon set."""
+        if not self.icon_hash:
+            return
         return configs.GUILD_ICON_BASE_URL.format(guild_id=self.id, icon_hash=self.icon_hash)