diff --git a/include/zephyr/pm/device.h b/include/zephyr/pm/device.h
index 023d35b3d37..ebff9696197 100644
--- a/include/zephyr/pm/device.h
+++ b/include/zephyr/pm/device.h
@@ -123,7 +123,7 @@ struct pm_device {
 	/** Pointer to the device */
 	const struct device *dev;
 	/** Lock to synchronize the get/put operations */
-	struct k_mutex lock;
+	struct k_sem lock;
 	/** Event var to listen to the sync request events */
 	struct k_event event;
 	/** Device usage count */
@@ -147,7 +147,7 @@ struct pm_device {
 
 #ifdef CONFIG_PM_DEVICE_RUNTIME
 #define Z_PM_DEVICE_RUNTIME_INIT(obj)			\
-	.lock = Z_MUTEX_INITIALIZER(obj.lock),		\
+	.lock = Z_SEM_INITIALIZER(obj.lock, 1, 1),	\
 	.event = Z_EVENT_INITIALIZER(obj.event),
 #else
 #define Z_PM_DEVICE_RUNTIME_INIT(obj)
diff --git a/include/zephyr/pm/device_runtime.h b/include/zephyr/pm/device_runtime.h
index 8a403a1a924..d14aa2fee6e 100644
--- a/include/zephyr/pm/device_runtime.h
+++ b/include/zephyr/pm/device_runtime.h
@@ -114,13 +114,14 @@ int pm_device_runtime_put(const struct device *dev);
  * this case, the function will be blocking (equivalent to
  * pm_device_runtime_put()).
  *
- * @funcprops \pre_kernel_ok, \async
+ * @funcprops \pre_kernel_ok, \async, \isr_ok
  *
  * @param dev Device instance.
  *
  * @retval 0 If it succeeds. In case device runtime PM is not enabled or not
  * available this function will be a no-op and will also return 0.
  * @retval -ENOTSUP If the device does not support PM.
+ * @retval -EBUSY If the device is busy.
  * @retval -EALREADY If device is already suspended (can only happen if get/put
  * calls are unbalanced).
  *
diff --git a/subsys/pm/device_runtime.c b/subsys/pm/device_runtime.c
index 55cc645faee..fb759cf2821 100644
--- a/subsys/pm/device_runtime.c
+++ b/subsys/pm/device_runtime.c
@@ -39,6 +39,7 @@ LOG_MODULE_DECLARE(pm_device, CONFIG_PM_DEVICE_LOG_LEVEL);
  * @retval 0 If device has been suspended or queued for suspend.
  * @retval -EALREADY If device is already suspended (can only happen if get/put
  * calls are unbalanced).
+ * @retval -EBUSY If the device is busy.
  * @retval -errno Other negative errno, result of the action callback.
  */
 static int runtime_suspend(const struct device *dev, bool async)
@@ -49,7 +50,10 @@ static int runtime_suspend(const struct device *dev, bool async)
 	if (k_is_pre_kernel()) {
 		async = false;
 	} else {
-		(void)k_mutex_lock(&pm->lock, K_FOREVER);
+		ret = k_sem_take(&pm->lock, k_is_in_isr() ? K_NO_WAIT : K_FOREVER);
+		if (ret < 0) {
+			return -EBUSY;
+		}
 	}
 
 	if (!atomic_test_bit(&pm->flags, PM_DEVICE_FLAG_RUNTIME_ENABLED)) {
@@ -84,7 +88,7 @@ static int runtime_suspend(const struct device *dev, bool async)
 
 unlock:
 	if (!k_is_pre_kernel()) {
-		k_mutex_unlock(&pm->lock);
+		k_sem_give(&pm->lock);
 	}
 
 	return ret;
@@ -98,7 +102,7 @@ static void runtime_suspend_work(struct k_work *work)
 
 	ret = pm->action_cb(pm->dev, PM_DEVICE_ACTION_SUSPEND);
 
-	(void)k_mutex_lock(&pm->lock, K_FOREVER);
+	(void)k_sem_take(&pm->lock, K_FOREVER);
 	if (ret < 0) {
 		pm->usage++;
 		pm->state = PM_DEVICE_STATE_ACTIVE;
@@ -106,7 +110,7 @@ static void runtime_suspend_work(struct k_work *work)
 		pm->state = PM_DEVICE_STATE_SUSPENDED;
 	}
 	k_event_set(&pm->event, BIT(pm->state));
-	k_mutex_unlock(&pm->lock);
+	k_sem_give(&pm->lock);
 
 	/*
 	 * On async put, we have to suspend the domain when the device
@@ -131,7 +135,7 @@ int pm_device_runtime_get(const struct device *dev)
 	SYS_PORT_TRACING_FUNC_ENTER(pm, device_runtime_get, dev);
 
 	if (!k_is_pre_kernel()) {
-		(void)k_mutex_lock(&pm->lock, K_FOREVER);
+		(void)k_sem_take(&pm->lock, K_FOREVER);
 	}
 
 	if (!atomic_test_bit(&pm->flags, PM_DEVICE_FLAG_RUNTIME_ENABLED)) {
@@ -160,11 +164,11 @@ int pm_device_runtime_get(const struct device *dev)
 	if (!k_is_pre_kernel()) {
 		/* wait until possible async suspend is completed */
 		while (pm->state == PM_DEVICE_STATE_SUSPENDING) {
-			k_mutex_unlock(&pm->lock);
+			k_sem_give(&pm->lock);
 
 			k_event_wait(&pm->event, EVENT_MASK, true, K_FOREVER);
 
-			(void)k_mutex_lock(&pm->lock, K_FOREVER);
+			(void)k_sem_take(&pm->lock, K_FOREVER);
 		}
 	}
 
@@ -182,7 +186,7 @@ int pm_device_runtime_get(const struct device *dev)
 
 unlock:
 	if (!k_is_pre_kernel()) {
-		k_mutex_unlock(&pm->lock);
+		k_sem_give(&pm->lock);
 	}
 
 	SYS_PORT_TRACING_FUNC_EXIT(pm, device_runtime_get, dev, ret);
@@ -194,6 +198,8 @@ int pm_device_runtime_put(const struct device *dev)
 {
 	int ret;
 
+	__ASSERT(!k_is_in_isr(), "use pm_device_runtime_put_async() in ISR");
+
 	if (dev->pm == NULL) {
 		return -ENOTSUP;
 	}
@@ -244,7 +250,7 @@ int pm_device_runtime_enable(const struct device *dev)
 	}
 
 	if (!k_is_pre_kernel()) {
-		(void)k_mutex_lock(&pm->lock, K_FOREVER);
+		(void)k_sem_take(&pm->lock, K_FOREVER);
 	}
 
 	if (atomic_test_bit(&pm->flags, PM_DEVICE_FLAG_RUNTIME_ENABLED)) {
@@ -271,7 +277,7 @@ int pm_device_runtime_enable(const struct device *dev)
 
 unlock:
 	if (!k_is_pre_kernel()) {
-		k_mutex_unlock(&pm->lock);
+		k_sem_give(&pm->lock);
 	}
 
 end:
@@ -291,7 +297,7 @@ int pm_device_runtime_disable(const struct device *dev)
 	SYS_PORT_TRACING_FUNC_ENTER(pm, device_runtime_disable, dev);
 
 	if (!k_is_pre_kernel()) {
-		(void)k_mutex_lock(&pm->lock, K_FOREVER);
+		(void)k_sem_take(&pm->lock, K_FOREVER);
 	}
 
 	if (!atomic_test_bit(&pm->flags, PM_DEVICE_FLAG_RUNTIME_ENABLED)) {
@@ -301,11 +307,11 @@ int pm_device_runtime_disable(const struct device *dev)
 	/* wait until possible async suspend is completed */
 	if (!k_is_pre_kernel()) {
 		while (pm->state == PM_DEVICE_STATE_SUSPENDING) {
-			k_mutex_unlock(&pm->lock);
+			k_sem_give(&pm->lock);
 
 			k_event_wait(&pm->event, EVENT_MASK, true, K_FOREVER);
 
-			(void)k_mutex_lock(&pm->lock, K_FOREVER);
+			(void)k_sem_take(&pm->lock, K_FOREVER);
 		}
 	}
 
@@ -323,7 +329,7 @@ int pm_device_runtime_disable(const struct device *dev)
 
 unlock:
 	if (!k_is_pre_kernel()) {
-		k_mutex_unlock(&pm->lock);
+		k_sem_give(&pm->lock);
 	}
 
 	SYS_PORT_TRACING_FUNC_EXIT(pm, device_runtime_disable, dev, ret);