diff --git a/drivers/net/usb/lan78xx.c b/drivers/net/usb/lan78xx.c
index a39518f..d0d8790 100644
--- a/drivers/net/usb/lan78xx.c
+++ b/drivers/net/usb/lan78xx.c
@@ -2002,7 +2002,7 @@
 			netdev_warn(dev->net, "timeout waiting for PHY Reset");
 			return -EIO;
 		}
-	} while (buf & PMT_CTL_PHY_RST_);
+	} while ((buf & PMT_CTL_PHY_RST_) || !(buf & PMT_CTL_READY_));
 
 	lan78xx_mii_init(dev);