diff --git a/drivers/net/ethernet/xilinx/xilinx_axienet_mdio.c b/drivers/net/ethernet/xilinx/xilinx_axienet_mdio.c
index 16c3bfbe1992..757a3b37ae8a 100644
--- a/drivers/net/ethernet/xilinx/xilinx_axienet_mdio.c
+++ b/drivers/net/ethernet/xilinx/xilinx_axienet_mdio.c
@@ -218,6 +218,7 @@ int axienet_mdio_setup(struct axienet_local *lp, struct device_node *np)
 	ret = of_mdiobus_register(bus, np1);
 	if (ret) {
 		mdiobus_free(bus);
+		lp->mii_bus = NULL;
 		return ret;
 	}
 	return 0;