diff --git a/kernel/time/timer.c b/kernel/time/timer.c
index a3ec21be3b14..e87e638c31bd 100644
--- a/kernel/time/timer.c
+++ b/kernel/time/timer.c
@@ -1738,11 +1738,14 @@ static inline void __run_timers(struct timer_base *base)
 	       time_after_eq(jiffies, base->next_expiry)) {
 		levels = collect_expired_timers(base, heads);
 		/*
-		 * The only possible reason for not finding any expired
-		 * timer at this clk is that all matching timers have been
-		 * dequeued.
+		 * The two possible reasons for not finding any expired
+		 * timer at this clk are that all matching timers have been
+		 * dequeued or no timer has been queued since
+		 * base::next_expiry was set to base::clk +
+		 * NEXT_TIMER_MAX_DELTA.
 		 */
-		WARN_ON_ONCE(!levels && !base->next_expiry_recalc);
+		WARN_ON_ONCE(!levels && !base->next_expiry_recalc
+			     && base->timers_pending);
 		base->clk++;
 		base->next_expiry = __next_timer_interrupt(base);