diff --git a/arch/arm64/kvm/hyp/nvhe/hyp-main.c b/arch/arm64/kvm/hyp/nvhe/hyp-main.c
index 06db299c37a8..02c5d6e5abcb 100644
--- a/arch/arm64/kvm/hyp/nvhe/hyp-main.c
+++ b/arch/arm64/kvm/hyp/nvhe/hyp-main.c
@@ -128,6 +128,9 @@ static void flush_hyp_vcpu(struct pkvm_hyp_vcpu *hyp_vcpu)
 
 	hyp_vcpu->vcpu.arch.ctxt	= host_vcpu->arch.ctxt;
 
+	/* __hyp_running_vcpu must be NULL in a guest context. */
+	hyp_vcpu->vcpu.arch.ctxt.__hyp_running_vcpu = NULL;
+
 	hyp_vcpu->vcpu.arch.mdcr_el2	= host_vcpu->arch.mdcr_el2;
 	hyp_vcpu->vcpu.arch.hcr_el2 &= ~(HCR_TWI | HCR_TWE);
 	hyp_vcpu->vcpu.arch.hcr_el2 |= READ_ONCE(host_vcpu->arch.hcr_el2) &