diff --git a/drivers/net/ovpn/peer.c b/drivers/net/ovpn/peer.c
index 1844d97154ce..2b6096d8b1cc 100644
--- a/drivers/net/ovpn/peer.c
+++ b/drivers/net/ovpn/peer.c
@@ -1284,8 +1284,10 @@ static time64_t ovpn_peer_keepalive_work_single(struct ovpn_peer *peer,
 		netdev_dbg(peer->ovpn->dev,
 			   "sending keepalive to peer %u\n",
 			   peer->id);
-		if (schedule_work(&peer->keepalive_work))
-			ovpn_peer_hold(peer);
+		if (WARN_ON(!ovpn_peer_hold(peer)))
+			return 0;
+		if (!schedule_work(&peer->keepalive_work))
+			ovpn_peer_put(peer);
 	}
 
 	if (next_run1 < next_run2)