diff --git a/drivers/net/ethernet/renesas/sh_eth.c b/drivers/net/ethernet/renesas/sh_eth.c
index 4e190f5e32c3..b6e426d8014d 100644
--- a/drivers/net/ethernet/renesas/sh_eth.c
+++ b/drivers/net/ethernet/renesas/sh_eth.c
@@ -2033,8 +2033,6 @@ static int sh_eth_phy_init(struct net_device *ndev)
 		}
 	}
 
-	/* Indicate that the MAC is responsible for managing PHY PM */
-	phydev->mac_managed_pm = true;
 	phy_attached_info(phydev);
 
 	return 0;
@@ -3074,6 +3072,8 @@ static int sh_mdio_init(struct sh_eth_private *mdp,
 	struct bb_info *bitbang;
 	struct platform_device *pdev = mdp->pdev;
 	struct device *dev = &mdp->pdev->dev;
+	struct phy_device *phydev;
+	struct device_node *pn;
 
 	/* create bit control struct for PHY */
 	bitbang = devm_kzalloc(dev, sizeof(struct bb_info), GFP_KERNEL);
@@ -3108,6 +3108,14 @@ static int sh_mdio_init(struct sh_eth_private *mdp,
 	if (ret)
 		goto out_free_bus;
 
+	pn = of_parse_phandle(dev->of_node, "phy-handle", 0);
+	phydev = of_phy_find_device(pn);
+	if (phydev) {
+		phydev->mac_managed_pm = true;
+		put_device(&phydev->mdio.dev);
+	}
+	of_node_put(pn);
+
 	return 0;
 
 out_free_bus: