diff --git a/arch/arm/core/swap.S b/arch/arm/core/swap.S
index 28e9e5efa98..be148f9de8c 100644
--- a/arch/arm/core/swap.S
+++ b/arch/arm/core/swap.S
@@ -352,6 +352,12 @@ SECTION_FUNC(TEXT, _Swap)
     ldr r2, =_SCS_ICSR_PENDSV
     str r2, [r1, #0]
 
+#ifdef CONFIG_KERNEL_V2
+    /* load -EAGAIN as the default return value */
+    ldr r0, =_k_neg_eagain
+    ldr r0, [r0]
+#endif
+
     /* Unlock interrupts to allow PendSV, since it's running at prio 0xff
      *
      * PendSV handler will be called if there are no other interrupts