diff --git a/drivers/net/ethernet/mellanox/mlxsw/spectrum.c b/drivers/net/ethernet/mellanox/mlxsw/spectrum.c
index 2394c425b47d..8ed15199eb4f 100644
--- a/drivers/net/ethernet/mellanox/mlxsw/spectrum.c
+++ b/drivers/net/ethernet/mellanox/mlxsw/spectrum.c
@@ -1209,6 +1209,9 @@ static void update_stats_cache(struct work_struct *work)
 			     periodic_hw_stats.update_dw.work);
 
 	if (!netif_carrier_ok(mlxsw_sp_port->dev))
+		/* Note: mlxsw_sp_port_down_wipe_counters() clears the cache as
+		 * necessary when port goes down.
+		 */
 		goto out;
 
 	mlxsw_sp_port_get_hw_stats(mlxsw_sp_port->dev,
@@ -4318,6 +4321,15 @@ static int mlxsw_sp_port_unsplit(struct mlxsw_core *mlxsw_core, u8 local_port,
 	return 0;
 }
 
+static void
+mlxsw_sp_port_down_wipe_counters(struct mlxsw_sp_port *mlxsw_sp_port)
+{
+	int i;
+
+	for (i = 0; i < TC_MAX_QUEUE; i++)
+		mlxsw_sp_port->periodic_hw_stats.xstats.backlog[i] = 0;
+}
+
 static void mlxsw_sp_pude_event_func(const struct mlxsw_reg_info *reg,
 				     char *pude_pl, void *priv)
 {
@@ -4339,6 +4351,7 @@ static void mlxsw_sp_pude_event_func(const struct mlxsw_reg_info *reg,
 	} else {
 		netdev_info(mlxsw_sp_port->dev, "link down\n");
 		netif_carrier_off(mlxsw_sp_port->dev);
+		mlxsw_sp_port_down_wipe_counters(mlxsw_sp_port);
 	}
 }