diff --git a/drivers/net/ieee802154/mac802154_hwsim.c b/drivers/net/ieee802154/mac802154_hwsim.c
index 6daa0f198b9f..a9bd1555d2dc 100644
--- a/drivers/net/ieee802154/mac802154_hwsim.c
+++ b/drivers/net/ieee802154/mac802154_hwsim.c
@@ -72,6 +72,8 @@ struct hwsim_phy {
 	struct ieee802154_hw *hw;
 	u32 idx;
 
+	/* Serializes phy->pib_updates. */
+	spinlock_t pib_lock;
 	struct hwsim_pib __rcu *pib;
 
 	bool suspended;
@@ -102,8 +104,6 @@ static int hwsim_update_pib(struct ieee802154_hw *hw, u8 page, u8 channel,
 	if (!pib)
 		return -ENOMEM;
 
-	pib_old = rtnl_dereference(phy->pib);
-
 	pib->page = page;
 	pib->channel = channel;
 	pib->filt.short_addr = filt->short_addr;
@@ -112,7 +112,10 @@ static int hwsim_update_pib(struct ieee802154_hw *hw, u8 page, u8 channel,
 	pib->filt.pan_coord = filt->pan_coord;
 	pib->filt_level = filt_level;
 
-	rcu_assign_pointer(phy->pib, pib);
+	spin_lock_bh(&phy->pib_lock);
+	pib_old = rcu_replace_pointer(phy->pib, pib,
+				      lockdep_is_held(&phy->pib_lock));
+	spin_unlock_bh(&phy->pib_lock);
 	kfree_rcu(pib_old, rcu);
 	return 0;
 }
@@ -952,6 +955,7 @@ static int hwsim_add_one(struct genl_info *info, struct device *dev,
 		goto err_pib;
 	}
 
+	spin_lock_init(&phy->pib_lock);
 	pib->channel = 13;
 	pib->filt.short_addr = cpu_to_le16(IEEE802154_ADDR_BROADCAST);
 	pib->filt.pan_id = cpu_to_le16(IEEE802154_PANID_BROADCAST);