diff --git a/drivers/net/ethernet/stmicro/stmmac/stmmac_main.c b/drivers/net/ethernet/stmicro/stmmac/stmmac_main.c
index ee44bd6f4d48..79b71466d5b0 100644
--- a/drivers/net/ethernet/stmicro/stmmac/stmmac_main.c
+++ b/drivers/net/ethernet/stmicro/stmmac/stmmac_main.c
@@ -1330,6 +1330,10 @@ static int stmmac_init_phy(struct net_device *dev)
 		struct phy_device *phydev;
 
 		if (addr < 0) {
+			/* If a custom PCS is in use, no PHY is needed */
+			if (priv->hw->phylink_pcs)
+				return 0;
+
 			netdev_err(priv->dev, "no phy found\n");
 			return -ENODEV;
 		}