diff --git a/drivers/net/phy/phylink.c b/drivers/net/phy/phylink.c
index 390d3eb3e6f7..8ecf2dec3a7d 100644
--- a/drivers/net/phy/phylink.c
+++ b/drivers/net/phy/phylink.c
@@ -2615,11 +2615,17 @@ EXPORT_SYMBOL_GPL(phylink_start);
  *
  * This will synchronously bring down the link if the link is not already
  * down (in other words, it will trigger a mac_link_down() method call.)
+ * It may also be called after phylink_suspend() if the MAC cannot resume
+ * and the network device must be closed instead.
  */
 void phylink_stop(struct phylink *pl)
 {
 	ASSERT_RTNL();
 
+	/* phylink_suspend() already stops the link without MAC WoL. */
+	if (test_bit(PHYLINK_DISABLE_STOPPED, &pl->phylink_disable_state))
+		return;
+
 	if (pl->sfp_bus)
 		sfp_upstream_stop(pl->sfp_bus);
 	if (pl->phydev)
@@ -2632,6 +2638,16 @@ void phylink_stop(struct phylink *pl)
 
 	phylink_run_resolve_and_disable(pl, PHYLINK_DISABLE_STOPPED);
 
+	if (test_bit(PHYLINK_DISABLE_MAC_WOL, &pl->phylink_disable_state)) {
+		/* Finish the link-down deferred by MAC WoL, without restarting. */
+		flush_work(&pl->resolve);
+		mutex_lock(&pl->state_mutex);
+		if (pl->suspend_link_up)
+			phylink_link_down(pl);
+		__clear_bit(PHYLINK_DISABLE_MAC_WOL, &pl->phylink_disable_state);
+		mutex_unlock(&pl->state_mutex);
+	}
+
 	pl->pcs_state = PCS_STATE_DOWN;
 
 	phylink_pcs_disable(pl->pcs);