diff --git a/src/util/viridentity.c b/src/util/viridentity.c
index 6f3baeeb11..9b8ba4ae24 100644
--- a/src/util/viridentity.c
+++ b/src/util/viridentity.c
@@ -111,15 +111,17 @@ int virIdentitySetCurrent(virIdentityPtr ident)
         return -1;
 
     old = virThreadLocalGet(&virIdentityCurrent);
-    virObjectUnref(old);
 
     if (virThreadLocalSet(&virIdentityCurrent,
                           virObjectRef(ident)) < 0) {
         virReportError(VIR_ERR_INTERNAL_ERROR, "%s",
                        _("Unable to set thread local identity"));
+        virObjectUnref(ident);
         return -1;
     }
 
+    virObjectUnref(old);
+
     return 0;
 }