diff --git a/drivers/net/ethernet/intel/ice/ice.h b/drivers/net/ethernet/intel/ice/ice.h
index 367b613d92c0..97c2a5fb5dbf 100644
--- a/drivers/net/ethernet/intel/ice/ice.h
+++ b/drivers/net/ethernet/intel/ice/ice.h
@@ -493,7 +493,6 @@ enum ice_pf_flags {
 	ICE_FLAG_DCB_ENA,
 	ICE_FLAG_FD_ENA,
 	ICE_FLAG_PTP_SUPPORTED,		/* PTP is supported by NVM */
-	ICE_FLAG_PTP,			/* PTP is enabled by software */
 	ICE_FLAG_ADV_FEATURES,
 	ICE_FLAG_TC_MQPRIO,		/* support for Multi queue TC */
 	ICE_FLAG_CLS_FLOWER,
diff --git a/drivers/net/ethernet/intel/ice/ice_ethtool.c b/drivers/net/ethernet/intel/ice/ice_ethtool.c
index a19b06f18e40..55fcf17d503e 100644
--- a/drivers/net/ethernet/intel/ice/ice_ethtool.c
+++ b/drivers/net/ethernet/intel/ice/ice_ethtool.c
@@ -3360,7 +3360,7 @@ ice_get_ts_info(struct net_device *dev, struct ethtool_ts_info *info)
 	struct ice_pf *pf = ice_netdev_to_pf(dev);
 
 	/* only report timestamping if PTP is enabled */
-	if (!test_bit(ICE_FLAG_PTP, pf->flags))
+	if (pf->ptp.state != ICE_PTP_READY)
 		return ethtool_op_get_ts_info(dev, info);
 
 	info->so_timestamping = SOF_TIMESTAMPING_TX_SOFTWARE |
diff --git a/drivers/net/ethernet/intel/ice/ice_ptp.c b/drivers/net/ethernet/intel/ice/ice_ptp.c
index 3b6605c8585e..d7de65f8dd53 100644
--- a/drivers/net/ethernet/intel/ice/ice_ptp.c
+++ b/drivers/net/ethernet/intel/ice/ice_ptp.c
@@ -1430,7 +1430,7 @@ void ice_ptp_link_change(struct ice_pf *pf, u8 port, bool linkup)
 	struct ice_ptp_port *ptp_port;
 	struct ice_hw *hw = &pf->hw;
 
-	if (!test_bit(ICE_FLAG_PTP, pf->flags))
+	if (pf->ptp.state != ICE_PTP_READY)
 		return;
 
 	if (WARN_ON_ONCE(port >= ICE_NUM_EXTERNAL_PORTS))
@@ -2162,7 +2162,7 @@ int ice_ptp_get_ts_config(struct ice_pf *pf, struct ifreq *ifr)
 {
 	struct hwtstamp_config *config;
 
-	if (!test_bit(ICE_FLAG_PTP, pf->flags))
+	if (pf->ptp.state != ICE_PTP_READY)
 		return -EIO;
 
 	config = &pf->ptp.tstamp_config;
@@ -2232,7 +2232,7 @@ int ice_ptp_set_ts_config(struct ice_pf *pf, struct ifreq *ifr)
 	struct hwtstamp_config config;
 	int err;
 
-	if (!test_bit(ICE_FLAG_PTP, pf->flags))
+	if (pf->ptp.state != ICE_PTP_READY)
 		return -EAGAIN;
 
 	if (copy_from_user(&config, ifr->ifr_data, sizeof(config)))
@@ -2616,7 +2616,7 @@ static void ice_ptp_periodic_work(struct kthread_work *work)
 	struct ice_pf *pf = container_of(ptp, struct ice_pf, ptp);
 	int err;
 
-	if (!test_bit(ICE_FLAG_PTP, pf->flags))
+	if (pf->ptp.state != ICE_PTP_READY)
 		return;
 
 	err = ice_ptp_update_cached_phctime(pf);
@@ -2628,6 +2628,42 @@ static void ice_ptp_periodic_work(struct kthread_work *work)
 				   msecs_to_jiffies(err ? 10 : 500));
 }
 
+/**
+ * ice_ptp_prepare_for_reset - Prepare PTP for reset
+ * @pf: Board private structure
+ */
+void ice_ptp_prepare_for_reset(struct ice_pf *pf)
+{
+	struct ice_ptp *ptp = &pf->ptp;
+	u8 src_tmr;
+
+	if (ptp->state != ICE_PTP_READY)
+		return;
+
+	ptp->state = ICE_PTP_RESETTING;
+
+	/* Disable timestamping for both Tx and Rx */
+	ice_ptp_disable_timestamp_mode(pf);
+
+	kthread_cancel_delayed_work_sync(&ptp->work);
+
+	if (test_bit(ICE_PFR_REQ, pf->state))
+		return;
+
+	ice_ptp_release_tx_tracker(pf, &pf->ptp.port.tx);
+
+	/* Disable periodic outputs */
+	ice_ptp_disable_all_clkout(pf);
+
+	src_tmr = ice_get_ptp_src_clock_index(&pf->hw);
+
+	/* Disable source clock */
+	wr32(&pf->hw, GLTSYN_ENA(src_tmr), (u32)~GLTSYN_ENA_TSYN_ENA_M);
+
+	/* Acquire PHC and system timer to restore after reset */
+	ptp->reset_time = ktime_get_real_ns();
+}
+
 /**
  * ice_ptp_reset - Initialize PTP hardware clock support after reset
  * @pf: Board private structure
@@ -2640,6 +2676,16 @@ void ice_ptp_reset(struct ice_pf *pf)
 	int err, itr = 1;
 	u64 time_diff;
 
+	if (ptp->state != ICE_PTP_RESETTING) {
+		if (ptp->state == ICE_PTP_READY) {
+			ice_ptp_prepare_for_reset(pf);
+		} else {
+			err = -EINVAL;
+			dev_err(ice_pf_to_dev(pf), "PTP was not initialized\n");
+			goto err;
+		}
+	}
+
 	if (test_bit(ICE_PFR_REQ, pf->state) ||
 	    !ice_pf_src_tmr_owned(pf))
 		goto pfr;
@@ -2700,7 +2746,7 @@ void ice_ptp_reset(struct ice_pf *pf)
 	if (err)
 		goto err;
 
-	set_bit(ICE_FLAG_PTP, pf->flags);
+	ptp->state = ICE_PTP_READY;
 
 	/* Restart the PHY timestamping block */
 	if (!test_bit(ICE_PFR_REQ, pf->state) &&
@@ -2714,6 +2760,7 @@ void ice_ptp_reset(struct ice_pf *pf)
 	return;
 
 err:
+	ptp->state = ICE_PTP_ERROR;
 	dev_err(ice_pf_to_dev(pf), "PTP reset failed %d\n", err);
 }
 
@@ -2922,39 +2969,6 @@ int ice_ptp_clock_index(struct ice_pf *pf)
 	return clock ? ptp_clock_index(clock) : -1;
 }
 
-/**
- * ice_ptp_prepare_for_reset - Prepare PTP for reset
- * @pf: Board private structure
- */
-void ice_ptp_prepare_for_reset(struct ice_pf *pf)
-{
-	struct ice_ptp *ptp = &pf->ptp;
-	u8 src_tmr;
-
-	clear_bit(ICE_FLAG_PTP, pf->flags);
-
-	/* Disable timestamping for both Tx and Rx */
-	ice_ptp_disable_timestamp_mode(pf);
-
-	kthread_cancel_delayed_work_sync(&ptp->work);
-
-	if (test_bit(ICE_PFR_REQ, pf->state))
-		return;
-
-	ice_ptp_release_tx_tracker(pf, &pf->ptp.port.tx);
-
-	/* Disable periodic outputs */
-	ice_ptp_disable_all_clkout(pf);
-
-	src_tmr = ice_get_ptp_src_clock_index(&pf->hw);
-
-	/* Disable source clock */
-	wr32(&pf->hw, GLTSYN_ENA(src_tmr), (u32)~GLTSYN_ENA_TSYN_ENA_M);
-
-	/* Acquire PHC and system timer to restore after reset */
-	ptp->reset_time = ktime_get_real_ns();
-}
-
 /**
  * ice_ptp_init_owner - Initialize PTP_1588_CLOCK device
  * @pf: Board private structure
@@ -3195,6 +3209,8 @@ void ice_ptp_init(struct ice_pf *pf)
 	struct ice_hw *hw = &pf->hw;
 	int err;
 
+	ptp->state = ICE_PTP_INITIALIZING;
+
 	ice_ptp_init_phy_model(hw);
 
 	ice_ptp_init_tx_interrupt_mode(pf);
@@ -3219,12 +3235,13 @@ void ice_ptp_init(struct ice_pf *pf)
 	/* Configure initial Tx interrupt settings */
 	ice_ptp_cfg_tx_interrupt(pf);
 
-	set_bit(ICE_FLAG_PTP, pf->flags);
-	err = ice_ptp_init_work(pf, ptp);
+	err = ice_ptp_create_auxbus_device(pf);
 	if (err)
 		goto err;
 
-	err = ice_ptp_create_auxbus_device(pf);
+	ptp->state = ICE_PTP_READY;
+
+	err = ice_ptp_init_work(pf, ptp);
 	if (err)
 		goto err;
 
@@ -3237,7 +3254,7 @@ void ice_ptp_init(struct ice_pf *pf)
 		ptp_clock_unregister(ptp->clock);
 		pf->ptp.clock = NULL;
 	}
-	clear_bit(ICE_FLAG_PTP, pf->flags);
+	ptp->state = ICE_PTP_ERROR;
 	dev_err(ice_pf_to_dev(pf), "PTP failed %d\n", err);
 }
 
@@ -3250,9 +3267,11 @@ void ice_ptp_init(struct ice_pf *pf)
  */
 void ice_ptp_release(struct ice_pf *pf)
 {
-	if (!test_bit(ICE_FLAG_PTP, pf->flags))
+	if (pf->ptp.state != ICE_PTP_READY)
 		return;
 
+	pf->ptp.state = ICE_PTP_UNINIT;
+
 	/* Disable timestamping for both Tx and Rx */
 	ice_ptp_disable_timestamp_mode(pf);
 
@@ -3260,8 +3279,6 @@ void ice_ptp_release(struct ice_pf *pf)
 
 	ice_ptp_release_tx_tracker(pf, &pf->ptp.port.tx);
 
-	clear_bit(ICE_FLAG_PTP, pf->flags);
-
 	kthread_cancel_delayed_work_sync(&pf->ptp.work);
 
 	ice_ptp_port_phy_stop(&pf->ptp.port);
@@ -3271,6 +3288,9 @@ void ice_ptp_release(struct ice_pf *pf)
 		pf->ptp.kworker = NULL;
 	}
 
+	if (ice_pf_src_tmr_owned(pf))
+		ice_ptp_unregister_auxbus_driver(pf);
+
 	if (!pf->ptp.clock)
 		return;
 
@@ -3280,7 +3300,5 @@ void ice_ptp_release(struct ice_pf *pf)
 	ptp_clock_unregister(pf->ptp.clock);
 	pf->ptp.clock = NULL;
 
-	ice_ptp_unregister_auxbus_driver(pf);
-
 	dev_info(ice_pf_to_dev(pf), "Removed PTP clock\n");
 }
diff --git a/drivers/net/ethernet/intel/ice/ice_ptp.h b/drivers/net/ethernet/intel/ice/ice_ptp.h
index 087dd32d8762..2457380142e1 100644
--- a/drivers/net/ethernet/intel/ice/ice_ptp.h
+++ b/drivers/net/ethernet/intel/ice/ice_ptp.h
@@ -203,8 +203,17 @@ struct ice_ptp_port_owner {
 
 #define GLTSYN_TGT_H_IDX_MAX		4
 
+enum ice_ptp_state {
+	ICE_PTP_UNINIT = 0,
+	ICE_PTP_INITIALIZING,
+	ICE_PTP_READY,
+	ICE_PTP_RESETTING,
+	ICE_PTP_ERROR,
+};
+
 /**
  * struct ice_ptp - data used for integrating with CONFIG_PTP_1588_CLOCK
+ * @state: current state of PTP state machine
  * @tx_interrupt_mode: the TX interrupt mode for the PTP clock
  * @port: data for the PHY port initialization procedure
  * @ports_owner: data for the auxiliary driver owner
@@ -227,6 +236,7 @@ struct ice_ptp_port_owner {
  * @late_cached_phc_updates: number of times cached PHC update is late
  */
 struct ice_ptp {
+	enum ice_ptp_state state;
 	enum ice_ptp_tx_interrupt tx_interrupt_mode;
 	struct ice_ptp_port port;
 	struct ice_ptp_port_owner ports_owner;
