diff --git a/mm/damon/paddr.c b/mm/damon/paddr.c
index c834aa217835..1a89920efce9 100644
--- a/mm/damon/paddr.c
+++ b/mm/damon/paddr.c
@@ -92,12 +92,20 @@ static bool damon_folio_young_one(struct folio *folio,
 {
 	bool *accessed = arg;
 	DEFINE_FOLIO_VMA_WALK(pvmw, folio, vma, addr, 0);
+	pte_t pte;
 
 	*accessed = false;
 	while (page_vma_mapped_walk(&pvmw)) {
 		addr = pvmw.address;
 		if (pvmw.pte) {
-			*accessed = pte_young(ptep_get(pvmw.pte)) ||
+			pte = ptep_get(pvmw.pte);
+
+			/*
+			 * PFN swap PTEs, such as device-exclusive ones, that
+			 * actually map pages are "old" from a CPU perspective.
+			 * The MMU notifier takes care of any device aspects.
+			 */
+			*accessed = (pte_present(pte) && pte_young(pte)) ||
 				!folio_test_idle(folio) ||
 				mmu_notifier_test_young(vma->vm_mm, addr);
 		} else {