diff --git a/runtime/pack/dist/opt/netrw/autoload/netrw.vim b/runtime/pack/dist/opt/netrw/autoload/netrw.vim
index 1deda534d2..6226c5b51f 100644
--- a/runtime/pack/dist/opt/netrw/autoload/netrw.vim
+++ b/runtime/pack/dist/opt/netrw/autoload/netrw.vim
@@ -25,6 +25,7 @@
 " 2026 Apr 01 by Vim Project use fnameescape() with netrw#FileUrlEdit()
 " 2026 Apr 05 by Vim Project Fix netrw#RFC2396() #19913
 " 2026 Apr 15 by Vim Project Add missing escape()
+" 2026 Apr 19 by Vim Project expand ~ on Windows #20003
 " Copyright:  Copyright (C) 2016 Charles E. Campbell {{{1
 "             Permission is hereby granted to use and distribute this code,
 "             with or without modifications, provided that this copyright
@@ -530,8 +531,8 @@ function netrw#Explore(indx,dosplit,style,...)
   NetrwKeepj norm! 0
 
   if a:0 > 0
-    if a:1 =~ '^\~' && (has("unix") || g:netrw_cygwin)
-      let dirname= simplify(substitute(a:1,'\~',expand("$HOME"),''))
+    if a:1 =~ '^\~' && (has("unix") || has("win32") || g:netrw_cygwin)
+      let dirname= simplify(substitute(a:1,'^\~',escape(expand("$HOME"),'\&~'),''))
     elseif a:1 == '.'
       let dirname= simplify(exists("b:netrw_curdir")? b:netrw_curdir : getcwd())
       if dirname !~ '/$'
diff --git a/test/old/testdir/test_plugin_netrw.vim b/test/old/testdir/test_plugin_netrw.vim
index c33b3c307e..83b2d969f6 100644
--- a/test/old/testdir/test_plugin_netrw.vim
+++ b/test/old/testdir/test_plugin_netrw.vim
@@ -616,4 +616,10 @@ func Test_netrw_RFC2396()
   call assert_equal('a b', netrw#RFC2396(fname))
 endfunc
 
+func Test_netrw_Home_tilde()
+  Explore ~
+  call assert_match('Netrw Directory Listing', getline(2))
+  bw!
+endfunc
+
 " vim:ts=8 sts=2 sw=2 et