diff --git a/drivers/net/phy/broadcom.c b/drivers/net/phy/broadcom.c
index 8e7fc3368380..fa0be591ae79 100644
--- a/drivers/net/phy/broadcom.c
+++ b/drivers/net/phy/broadcom.c
@@ -366,18 +366,24 @@ static int bcm54xx_config_init(struct phy_device *phydev)
 
 	bcm54xx_phydsp_config(phydev);
 
-	/* Encode link speed into LED1 and LED3 pair (green/amber).
+	/* For non-SFP setups, encode link speed into LED1 and LED3 pair
+	 * (green/amber).
 	 * Also flash these two LEDs on activity. This means configuring
 	 * them for MULTICOLOR and encoding link/activity into them.
+	 * Don't do this for devices on an SFP module, since some of these
+	 * use the LED outputs to control the SFP LOS signal, and changing
+	 * these settings will cause LOS to malfunction.
 	 */
-	val = BCM5482_SHD_LEDS1_LED1(BCM_LED_SRC_MULTICOLOR1) |
-		BCM5482_SHD_LEDS1_LED3(BCM_LED_SRC_MULTICOLOR1);
-	bcm_phy_write_shadow(phydev, BCM5482_SHD_LEDS1, val);
+	if (!phy_on_sfp(phydev)) {
+		val = BCM5482_SHD_LEDS1_LED1(BCM_LED_SRC_MULTICOLOR1) |
+			BCM5482_SHD_LEDS1_LED3(BCM_LED_SRC_MULTICOLOR1);
+		bcm_phy_write_shadow(phydev, BCM5482_SHD_LEDS1, val);
 
-	val = BCM_LED_MULTICOLOR_IN_PHASE |
-		BCM5482_SHD_LEDS1_LED1(BCM_LED_MULTICOLOR_LINK_ACT) |
-		BCM5482_SHD_LEDS1_LED3(BCM_LED_MULTICOLOR_LINK_ACT);
-	bcm_phy_write_exp(phydev, BCM_EXP_MULTICOLOR, val);
+		val = BCM_LED_MULTICOLOR_IN_PHASE |
+			BCM5482_SHD_LEDS1_LED1(BCM_LED_MULTICOLOR_LINK_ACT) |
+			BCM5482_SHD_LEDS1_LED3(BCM_LED_MULTICOLOR_LINK_ACT);
+		bcm_phy_write_exp(phydev, BCM_EXP_MULTICOLOR, val);
+	}
 
 	return 0;
 }