diff --git a/CODEOWNERS b/CODEOWNERS
index c18adc71d67..536a7ae1bf6 100644
--- a/CODEOWNERS
+++ b/CODEOWNERS
@@ -344,6 +344,7 @@
 /drivers/serial/serial_test.c             @str4t0m
 /drivers/serial/Kconfig.xen               @lorc @firscity
 /drivers/serial/uart_hvc_xen.c            @lorc @firscity
+/drivers/serial/uart_hvc_xen_consoleio.c  @lorc @firscity
 /drivers/serial/Kconfig.it8xxx2           @GTLin08
 /drivers/serial/uart_ite_it8xxx2.c        @GTLin08
 /drivers/disk/                            @jfischer-no
diff --git a/boards/arm64/xenvm/Kconfig.defconfig b/boards/arm64/xenvm/Kconfig.defconfig
index 2e8d48bc8f6..bc04e6983b4 100644
--- a/boards/arm64/xenvm/Kconfig.defconfig
+++ b/boards/arm64/xenvm/Kconfig.defconfig
@@ -6,6 +6,12 @@ if BOARD_XENVM
 config BUILD_OUTPUT_BIN
 	default y
 
+config XEN_INITIAL_DOMAIN
+	bool "Zephyr as Xen Domain 0"
+	default n
+	help
+	  Built binary will be used as Xen privileged domain.
+
 config BOARD
 	default "xenvm"
 
diff --git a/drivers/serial/CMakeLists.txt b/drivers/serial/CMakeLists.txt
index 350c8c2f6c9..acb5195d73a 100644
--- a/drivers/serial/CMakeLists.txt
+++ b/drivers/serial/CMakeLists.txt
@@ -45,6 +45,7 @@ zephyr_library_sources_ifdef(CONFIG_UART_XEC uart_mchp_xec.c)
 zephyr_library_sources_ifdef(CONFIG_UART_NEORV32 uart_neorv32.c)
 zephyr_library_sources_ifdef(CONFIG_USART_GD32 usart_gd32.c)
 zephyr_library_sources_ifdef(CONFIG_UART_XEN_HVC uart_hvc_xen.c)
+zephyr_library_sources_ifdef(CONFIG_UART_XEN_HVC_CONSOLEIO uart_hvc_xen_consoleio.c)
 
 zephyr_library_sources_ifdef(CONFIG_USERSPACE   uart_handlers.c)
 
diff --git a/drivers/serial/Kconfig.xen b/drivers/serial/Kconfig.xen
index 82b191d8b35..da3bb66cfe3 100644
--- a/drivers/serial/Kconfig.xen
+++ b/drivers/serial/Kconfig.xen
@@ -5,17 +5,29 @@
 #
 
 config UART_XEN_HVC
-	bool "Xen hypervisor console UART Driver"
+	bool "Xen hypervisor DomU console UART driver"
 	select SERIAL_HAS_DRIVER
 	select SERIAL_SUPPORT_INTERRUPT
 	depends on BOARD_XENVM
+	depends on !XEN_INITIAL_DOMAIN
 	default y
 	help
-	  Enable Xen hypervisor console driver.
+	  Enable Xen ring buffer based hypervisor console driver. Used
+	  for Zephyr as unprivileged domain.
+
+config UART_XEN_HVC_CONSOLEIO
+	bool "Xen hypervisor Dom0 console UART driver"
+	select SERIAL_HAS_DRIVER
+	depends on BOARD_XENVM
+	depends on XEN_INITIAL_DOMAIN
+	default y
+	help
+	  Enable Xen hypervisor console driver. Used for Zephyr as
+	  privileged domain (Dom0).
 
 config XEN_HVC_INIT_PRIORITY
 	int "Xen hypervisor console init priority"
-	depends on UART_XEN_HVC
+	depends on UART_XEN_HVC || UART_XEN_HVC_CONSOLEIO
 	default 55
 	help
 	  Set init priority for Xen HVC, should be inited before UART
@@ -24,6 +36,7 @@ config XEN_HVC_INIT_PRIORITY
 config XEN_EARLY_CONSOLEIO
 	bool "Early printk/stdout through console_io Xen interface"
 	depends on BOARD_XENVM
+	depends on UART_XEN_HVC
 	default n
 	help
 	  Enable setting of console_io symbol hook for stdout and printk.
diff --git a/drivers/serial/uart_hvc_xen_consoleio.c b/drivers/serial/uart_hvc_xen_consoleio.c
new file mode 100644
index 00000000000..899fa740745
--- /dev/null
+++ b/drivers/serial/uart_hvc_xen_consoleio.c
@@ -0,0 +1,55 @@
+/*
+ * Copyright (c) 2021 EPAM Systems
+ *
+ * SPDX-License-Identifier: Apache-2.0
+ *
+ * This driver implements input/output API for Xen domain through the
+ * Xen consoleio interface. This should be used only for Zephyr as initial
+ * domain (Dom0). For unprivileged domains regular ring buffer HVC driver
+ * should be used (uart_hvc_xen.c), this console will not be available.
+ */
+
+#include <arch/arm64/hypercall.h>
+#include <xen/public/xen.h>
+
+#include <device.h>
+#include <drivers/uart.h>
+#include <init.h>
+#include <kernel.h>
+
+static int xen_consoleio_poll_in(const struct device *dev,
+			unsigned char *c)
+{
+	int ret = 0;
+	char temp;
+
+	ret = HYPERVISOR_console_io(CONSOLEIO_read, sizeof(temp), &temp);
+	if (!ret) {
+		/* Char was not received */
+		return -1;
+	}
+
+	*c = temp;
+	return 0;
+}
+
+static void xen_consoleio_poll_out(const struct device *dev,
+			unsigned char c)
+{
+	(void) HYPERVISOR_console_io(CONSOLEIO_write, sizeof(c), &c);
+}
+
+static const struct uart_driver_api xen_consoleio_hvc_api = {
+	.poll_in = xen_consoleio_poll_in,
+	.poll_out = xen_consoleio_poll_out,
+};
+
+int xen_consoleio_init(const struct device *dev)
+{
+	/* Nothing to do, but still needed for device API */
+	return 0;
+}
+
+DEVICE_DT_DEFINE(DT_NODELABEL(xen_consoleio_hvc), xen_consoleio_init, NULL, NULL,
+		NULL, PRE_KERNEL_1, CONFIG_XEN_HVC_INIT_PRIORITY,
+		&xen_consoleio_hvc_api);