diff --git a/boards/riscv/hifive1_revb/hifive1_revb.dts b/boards/riscv/hifive1_revb/hifive1_revb.dts
index b7830fed2c6..f329286bb08 100644
--- a/boards/riscv/hifive1_revb/hifive1_revb.dts
+++ b/boards/riscv/hifive1_revb/hifive1_revb.dts
@@ -71,6 +71,11 @@
 	};
 };
 
+&coreclk {
+	clock-frequency = <DT_FREQ_M(16)>;
+	status = "okay";
+};
+
 &gpio0 {
 	status = "okay";
 };
diff --git a/soc/riscv/riscv-privilege/sifive-freedom/fe310_clock.c b/soc/riscv/riscv-privilege/sifive-freedom/fe310_clock.c
index 837643f5c3c..5a42ca66fed 100644
--- a/soc/riscv/riscv-privilege/sifive-freedom/fe310_clock.c
+++ b/soc/riscv/riscv-privilege/sifive-freedom/fe310_clock.c
@@ -8,19 +8,50 @@
 #include <init.h>
 #include "fe310_prci.h"
 
-BUILD_ASSERT(MHZ(16) == DT_PROP(DT_NODELABEL(coreclk), clock_frequency),
-	"Unsupported CORECLK frequency");
+#define CORECLK_HZ (DT_PROP(DT_NODELABEL(coreclk), clock_frequency))
 BUILD_ASSERT(DT_PROP(DT_NODELABEL(tlclk), clock_div) == 1,
 	"Unsupported TLCLK divider");
 
-/* Selects the 16MHz oscillator on the HiFive1 board, which provides a clock
- * that's accurate enough to actually drive serial ports off of.
- */
 static int fe310_clock_init(const struct device *dev)
 {
 	ARG_UNUSED(dev);
 
-	PRCI_REG(PRCI_PLLCFG) = PLL_REFSEL(1) | PLL_BYPASS(1);
+	/*
+	 * HFXOSC (16 MHz) is used to produce coreclk (and therefore tlclk /
+	 * peripheral clock). This code supports the following frequencies:
+	 * - 16 MHz (bypass HFPLL).
+	 * - 48 MHz - 320 MHz, in 8 MHz steps (use HFPLL).
+	 */
+	BUILD_ASSERT(MHZ(16) == CORECLK_HZ ||
+		(MHZ(48) <= CORECLK_HZ && MHZ(320) >= CORECLK_HZ &&
+		(CORECLK_HZ % MHZ(8)) == 0),
+		"Unsupported CORECLK frequency");
+
+	uint32_t prci;
+
+	if (MHZ(16) == CORECLK_HZ) {
+		/* Bypass HFPLL. */
+		prci = PLL_REFSEL(1) | PLL_BYPASS(1);
+	} else {
+		/* refr = 8 MHz. */
+		const int pll_r = 0x1;
+		int pll_q;
+
+		/* Select Q divisor to produce vco on [384 MHz, 768 MHz]. */
+		if (MHZ(768) / 8 >= CORECLK_HZ) {
+			pll_q = 0x3;
+		} else if (MHZ(768) / 4 >= CORECLK_HZ) {
+			pll_q = 0x2;
+		} else {
+			pll_q = 0x1;
+		}
+		/* Select F multiplier to produce vco target. */
+		const int pll_f = ((CORECLK_HZ / MHZ(1)) >> (4 - pll_q)) - 1;
+
+		prci = PLL_REFSEL(1) | PLL_R(pll_r) | PLL_F(pll_f) | PLL_Q(pll_q);
+	}
+
+	PRCI_REG(PRCI_PLLCFG) = prci;
 	PRCI_REG(PRCI_PLLDIV) = (PLL_FINAL_DIV_BY_1(1) | PLL_FINAL_DIV(0));
 	PRCI_REG(PRCI_PLLCFG) |= PLL_SEL(1);
 	PRCI_REG(PRCI_HFROSCCFG) &= ~ROSC_EN(1);