diff --git a/drivers/net/phy/mdio-mux.c b/drivers/net/phy/mdio-mux.c
index c96ef3b3fa3a..ccb3ee704eb1 100644
--- a/drivers/net/phy/mdio-mux.c
+++ b/drivers/net/phy/mdio-mux.c
@@ -175,11 +175,15 @@ int mdio_mux_init(struct device *dev,
 		cb->mii_bus->write = mdio_mux_write;
 		r = of_mdiobus_register(cb->mii_bus, child_bus_node);
 		if (r) {
+			mdiobus_free(cb->mii_bus);
+			if (r == -EPROBE_DEFER) {
+				ret_val = r;
+				goto err_loop;
+			}
+			devm_kfree(dev, cb);
 			dev_err(dev,
 				"Error: Failed to register MDIO bus for child %pOF\n",
 				child_bus_node);
-			mdiobus_free(cb->mii_bus);
-			devm_kfree(dev, cb);
 		} else {
 			cb->next = pb->children;
 			pb->children = cb;