diff --git a/subsys/pm/Kconfig b/subsys/pm/Kconfig
index 9cc972922f6..5b968c2756e 100644
--- a/subsys/pm/Kconfig
+++ b/subsys/pm/Kconfig
@@ -103,6 +103,14 @@ config PM_DEVICE_RUNTIME
 	  enabled, devices can be suspended or resumed based on the device
 	  usage even while the CPU or system is running.
 
+config PM_DEVICE_RUNTIME_EXCLUSIVE
+	depends on PM_DEVICE_RUNTIME
+	bool "Use only on Runtime Power Management on system suspend / resume"
+	default y
+	help
+	  On system suspend / resume do not trigger the Device PM hooks but
+	  only rely on Runtime PM to manage the devices power states.
+
 endif # PM_DEVICE
 
 endmenu
diff --git a/subsys/pm/pm.c b/subsys/pm/pm.c
index 5c3537f4f23..85b2820f6f5 100644
--- a/subsys/pm/pm.c
+++ b/subsys/pm/pm.c
@@ -43,7 +43,7 @@ static struct pm_state_info z_cpus_pm_forced_state[] = {
 
 static struct k_spinlock pm_forced_state_lock;
 
-#ifdef CONFIG_PM_DEVICE
+#if defined(CONFIG_PM_DEVICE) && !defined(CONFIG_PM_DEVICE_RUNTIME_EXCLUSIVE)
 static atomic_t z_cpus_active = ATOMIC_INIT(CONFIG_MP_NUM_CPUS);
 #endif
 static struct k_spinlock pm_notifier_lock;
@@ -52,6 +52,7 @@ static struct k_spinlock pm_notifier_lock;
 #ifdef CONFIG_PM_DEVICE
 extern const struct device *__pm_device_slots_start[];
 
+#if !defined(CONFIG_PM_DEVICE_RUNTIME_EXCLUSIVE)
 /* Number of devices successfully suspended. */
 static size_t num_susp;
 
@@ -105,6 +106,7 @@ static void pm_resume_devices(void)
 
 	num_susp = 0;
 }
+#endif  /* !CONFIG_PM_DEVICE_RUNTIME_EXCLUSIVE */
 #endif	/* CONFIG_PM_DEVICE */
 
 static inline void pm_exit_pos_ops(struct pm_state_info *info)
@@ -238,7 +240,7 @@ bool pm_system_suspend(int32_t ticks)
 				     true);
 	}
 
-#if CONFIG_PM_DEVICE
+#if defined(CONFIG_PM_DEVICE) && !defined(CONFIG_PM_DEVICE_RUNTIME_EXCLUSIVE)
 	if ((z_cpus_pm_state[id].state != PM_STATE_RUNTIME_IDLE) &&
 			(atomic_sub(&z_cpus_active, 1) == 1)) {
 		if (pm_suspend_devices()) {
@@ -269,7 +271,7 @@ bool pm_system_suspend(int32_t ticks)
 	pm_stats_stop();
 
 	/* Wake up sequence starts here */
-#if CONFIG_PM_DEVICE
+#if defined(CONFIG_PM_DEVICE) && !defined(CONFIG_PM_DEVICE_RUNTIME_EXCLUSIVE)
 	if (atomic_add(&z_cpus_active, 1) == 0) {
 		pm_resume_devices();
 	}
diff --git a/tests/subsys/pm/power_mgmt/prj.conf b/tests/subsys/pm/power_mgmt/prj.conf
index 2401fe109dd..7e9c0b8b7a1 100644
--- a/tests/subsys/pm/power_mgmt/prj.conf
+++ b/tests/subsys/pm/power_mgmt/prj.conf
@@ -4,3 +4,4 @@ CONFIG_PM_DEVICE=y
 CONFIG_PM_DEVICE_RUNTIME=y
 CONFIG_PM_POLICY_CUSTOM=y
 CONFIG_MP_NUM_CPUS=1
+CONFIG_PM_DEVICE_RUNTIME_EXCLUSIVE=n