diff --git a/drivers/pwm/pwm_nrf5_sw.c b/drivers/pwm/pwm_nrf5_sw.c
index b48db8dd7cb..6e3cbb5fdd9 100644
--- a/drivers/pwm/pwm_nrf5_sw.c
+++ b/drivers/pwm/pwm_nrf5_sw.c
@@ -16,11 +16,22 @@
 #include <logging/log.h>
 LOG_MODULE_REGISTER(pwm_nrf5_sw);
 
+BUILD_ASSERT(DT_INST_NODE_HAS_PROP(0, timer_instance) !=
+	     DT_INST_NODE_HAS_PROP(0, generator),
+	     "Please define either the timer-instance or generator property, but not both");
+
+#if DT_INST_NODE_HAS_PROP(0, timer_instance)
+#define GENERATOR_ADDR	_CONCAT(NRF_TIMER, DT_INST_PROP(0, timer_instance))
+#define GENERATOR_CC_NUM \
+	_CONCAT(_CONCAT(TIMER, DT_INST_PROP(0, timer_instance)), _CC_NUM)
+#else /* DT_INST_NODE_HAS_PROP(0, timer_instance) */
+#define GENERATOR_NODE	DT_PHANDLE(DT_DRV_INST(0), generator)
+#define GENERATOR_ADDR	((NRF_TIMER_Type *) DT_REG_ADDR(GENERATOR_NODE))
+#define GENERATOR_CC_NUM	DT_PROP(GENERATOR_NODE, cc_num)
+#endif /* DT_INST_NODE_HAS_PROP(0, timer_instance) */
+
 /* One compare channel is needed to set the PWM period, hence +1. */
-#if ((DT_INST_PROP(0, channel_count) + 1) > \
-	(_CONCAT( \
-		_CONCAT(TIMER, DT_INST_PROP(0, timer_instance)), \
-		_CC_NUM)))
+#if ((DT_INST_PROP(0, channel_count) + 1) > GENERATOR_CC_NUM)
 #error "Invalid number of PWM channels configured."
 #endif
 #define PWM_0_MAP_SIZE DT_INST_PROP(0, channel_count)
@@ -257,7 +268,7 @@ static int pwm_nrf5_sw_init(const struct device *dev)
 }
 
 static const struct pwm_config pwm_nrf5_sw_0_config = {
-	.timer = _CONCAT(NRF_TIMER, DT_INST_PROP(0, timer_instance)),
+	.timer = GENERATOR_ADDR,
 	.ppi_base = DT_INST_PROP(0, ppi_base),
 	.gpiote_base = DT_INST_PROP(0, gpiote_base),
 	.map_size = PWM_0_MAP_SIZE,
diff --git a/dts/arm/nordic/nrf51822.dtsi b/dts/arm/nordic/nrf51822.dtsi
index 4d5e0bdd047..5ff092a6adb 100644
--- a/dts/arm/nordic/nrf51822.dtsi
+++ b/dts/arm/nordic/nrf51822.dtsi
@@ -231,7 +231,7 @@
 
 
 &sw_pwm {
-	timer-instance = <1>;
+	generator = <&timer1>;
 	channel-count = <3>;
 	clock-prescaler = <0>;
 	ppi-base = <7>;
diff --git a/dts/arm/nordic/nrf52805.dtsi b/dts/arm/nordic/nrf52805.dtsi
index f16c892274d..c1bfd3541da 100644
--- a/dts/arm/nordic/nrf52805.dtsi
+++ b/dts/arm/nordic/nrf52805.dtsi
@@ -219,7 +219,7 @@
 };
 
 &sw_pwm {
-	timer-instance = <2>;
+	generator = <&timer2>;
 	channel-count = <3>;
 	clock-prescaler = <0>;
 	ppi-base = <7>;
diff --git a/dts/arm/nordic/nrf52810.dtsi b/dts/arm/nordic/nrf52810.dtsi
index ec289234ab9..7030a266ba0 100644
--- a/dts/arm/nordic/nrf52810.dtsi
+++ b/dts/arm/nordic/nrf52810.dtsi
@@ -221,7 +221,7 @@
 };
 
 &sw_pwm {
-	timer-instance = <2>;
+	generator = <&timer2>;
 	channel-count = <3>;
 	clock-prescaler = <0>;
 	ppi-base = <14>;
diff --git a/dts/arm/nordic/nrf52811.dtsi b/dts/arm/nordic/nrf52811.dtsi
index a3337488ecf..6e764d8337c 100644
--- a/dts/arm/nordic/nrf52811.dtsi
+++ b/dts/arm/nordic/nrf52811.dtsi
@@ -244,7 +244,7 @@
 };
 
 &sw_pwm {
-	timer-instance = <2>;
+	generator = <&timer2>;
 	channel-count = <3>;
 	clock-prescaler = <0>;
 	ppi-base = <14>;
diff --git a/dts/arm/nordic/nrf52820.dtsi b/dts/arm/nordic/nrf52820.dtsi
index 765dc88aeb2..2ce680ee757 100644
--- a/dts/arm/nordic/nrf52820.dtsi
+++ b/dts/arm/nordic/nrf52820.dtsi
@@ -255,7 +255,7 @@
 };
 
 &sw_pwm {
-	timer-instance = <2>;
+	generator = <&timer2>;
 	channel-count = <3>;
 	clock-prescaler = <0>;
 	ppi-base = <14>;
diff --git a/dts/arm/nordic/nrf52832.dtsi b/dts/arm/nordic/nrf52832.dtsi
index 04a5f9f2dfc..b230753a94f 100644
--- a/dts/arm/nordic/nrf52832.dtsi
+++ b/dts/arm/nordic/nrf52832.dtsi
@@ -319,7 +319,7 @@
 };
 
 &sw_pwm {
-	timer-instance = <2>;
+	generator = <&timer2>;
 	channel-count = <3>;
 	clock-prescaler = <0>;
 	ppi-base = <14>;
diff --git a/dts/arm/nordic/nrf52833.dtsi b/dts/arm/nordic/nrf52833.dtsi
index e9d0ff4fd10..b9c6c6804f2 100644
--- a/dts/arm/nordic/nrf52833.dtsi
+++ b/dts/arm/nordic/nrf52833.dtsi
@@ -375,7 +375,7 @@
 };
 
 &sw_pwm {
-	timer-instance = <2>;
+	generator = <&timer2>;
 	channel-count = <3>;
 	clock-prescaler = <0>;
 	ppi-base = <14>;
diff --git a/dts/arm/nordic/nrf52840.dtsi b/dts/arm/nordic/nrf52840.dtsi
index 956ec7bbc8d..dcd3f151aa9 100644
--- a/dts/arm/nordic/nrf52840.dtsi
+++ b/dts/arm/nordic/nrf52840.dtsi
@@ -396,7 +396,7 @@
 };
 
 &sw_pwm {
-	timer-instance = <2>;
+	generator = <&timer2>;
 	channel-count = <3>;
 	clock-prescaler = <0>;
 	ppi-base = <14>;
diff --git a/dts/bindings/pwm/nordic,nrf-sw-pwm.yaml b/dts/bindings/pwm/nordic,nrf-sw-pwm.yaml
index 4ac833b2fe5..04b7e688990 100644
--- a/dts/bindings/pwm/nordic,nrf-sw-pwm.yaml
+++ b/dts/bindings/pwm/nordic,nrf-sw-pwm.yaml
@@ -5,10 +5,18 @@ compatible: "nordic,nrf-sw-pwm"
 include: [pwm-controller.yaml, base.yaml]
 
 properties:
+    generator:
+      type: phandle
+      description: Reference to TIMER instance for generating PWM output signals
+      required: false
+
     timer-instance:
       type: int
-      description: Timer instance to use for generating the PWM output signals
-      required: true
+      description: |
+        Timer instance to use for generating the PWM output signals. Deprecated
+        in favour of 'generator' property.
+      required: false
+      deprecated: true
 
     channel-count:
       type: int