diff --git a/kernel/pipe.c b/kernel/pipe.c
index c4e19e1a450..9adfd270368 100644
--- a/kernel/pipe.c
+++ b/kernel/pipe.c
@@ -35,7 +35,7 @@ static inline bool pipe_empty(struct k_pipe *pipe)
 }
 
 static int wait_for(_wait_q_t *waitq, struct k_pipe *pipe, k_spinlock_key_t *key,
-		    k_timepoint_t time_limit)
+		    k_timepoint_t time_limit, bool *need_resched)
 {
 	k_timeout_t timeout = sys_timepoint_timeout(time_limit);
 	int rc;
@@ -45,6 +45,7 @@ static int wait_for(_wait_q_t *waitq, struct k_pipe *pipe, k_spinlock_key_t *key
 	}
 
 	pipe->waiting++;
+	*need_resched = false;
 	SYS_PORT_TRACING_OBJ_FUNC_BLOCKING(k_pipe, read, pipe, timeout);
 	rc = z_pend_curr(&pipe->lock, *key, waitq, timeout);
 	*key = k_spin_lock(&pipe->lock);
@@ -85,7 +86,7 @@ struct pipe_buf_spec {
 	size_t used;
 };
 
-static size_t copy_to_pending_readers(struct k_pipe *pipe,
+static size_t copy_to_pending_readers(struct k_pipe *pipe, bool *need_resched,
 				      const uint8_t *data, size_t len)
 {
 	struct k_thread *reader;
@@ -132,6 +133,7 @@ static size_t copy_to_pending_readers(struct k_pipe *pipe,
 			/* rest of thread wake-up outside the scheduler lock */
 			z_thread_return_value_set_with_data(reader, 0, NULL);
 			z_ready_thread(reader);
+			*need_resched = true;
 		}
 	} while (reader != NULL && written < len);
 
@@ -144,6 +146,7 @@ int z_impl_k_pipe_write(struct k_pipe *pipe, const uint8_t *data, size_t len, k_
 	size_t written = 0;
 	k_timepoint_t end = sys_timepoint_calc(timeout);
 	k_spinlock_key_t key = k_spin_lock(&pipe->lock);
+	bool need_resched = false;
 
 	SYS_PORT_TRACING_OBJ_FUNC_ENTER(k_pipe, write, pipe, data, len, timeout);
 
@@ -160,7 +163,8 @@ int z_impl_k_pipe_write(struct k_pipe *pipe, const uint8_t *data, size_t len, k_
 
 		if (pipe_empty(pipe)) {
 			if (pipe->waiting != 0) {
-				written += copy_to_pending_readers(pipe, &data[written],
+				written += copy_to_pending_readers(pipe, &need_resched,
+								   &data[written],
 								   len - written);
 				if (written >= len) {
 					rc = written;
@@ -179,7 +183,7 @@ int z_impl_k_pipe_write(struct k_pipe *pipe, const uint8_t *data, size_t len, k_
 			break;
 		}
 
-		rc = wait_for(&pipe->space, pipe, &key, end);
+		rc = wait_for(&pipe->space, pipe, &key, end, &need_resched);
 		if (rc != 0) {
 			if (rc == -EAGAIN) {
 				rc = written ? written : -EAGAIN;
@@ -189,7 +193,11 @@ int z_impl_k_pipe_write(struct k_pipe *pipe, const uint8_t *data, size_t len, k_
 	}
 exit:
 	SYS_PORT_TRACING_OBJ_FUNC_EXIT(k_pipe, write, pipe, rc);
-	k_spin_unlock(&pipe->lock, key);
+	if (need_resched) {
+		z_reschedule(&pipe->lock, key);
+	} else {
+		k_spin_unlock(&pipe->lock, key);
+	}
 	return rc;
 }
 
@@ -199,6 +207,7 @@ int z_impl_k_pipe_read(struct k_pipe *pipe, uint8_t *data, size_t len, k_timeout
 	int rc;
 	k_timepoint_t end = sys_timepoint_calc(timeout);
 	k_spinlock_key_t key = k_spin_lock(&pipe->lock);
+	bool need_resched = false;
 
 	SYS_PORT_TRACING_OBJ_FUNC_ENTER(k_pipe, read, pipe, data, len, timeout);
 
@@ -209,7 +218,8 @@ int z_impl_k_pipe_read(struct k_pipe *pipe, uint8_t *data, size_t len, k_timeout
 
 	for (;;) {
 		if (pipe_full(pipe)) {
-			z_sched_wake(&pipe->space, 0, NULL);
+			/* One or more pending writers may exist. */
+			need_resched = z_sched_wake_all(&pipe->space, 0, NULL);
 		}
 
 		buf.used += ring_buf_get(&pipe->buf, &data[buf.used], len - buf.used);
@@ -226,7 +236,7 @@ int z_impl_k_pipe_read(struct k_pipe *pipe, uint8_t *data, size_t len, k_timeout
 		/* provide our "direct copy" info to potential writers */
 		_current->base.swap_data = &buf;
 
-		rc = wait_for(&pipe->data, pipe, &key, end);
+		rc = wait_for(&pipe->data, pipe, &key, end, &need_resched);
 		if (rc != 0) {
 			if (rc == -EAGAIN) {
 				rc = buf.used ? buf.used : -EAGAIN;
@@ -236,7 +246,11 @@ int z_impl_k_pipe_read(struct k_pipe *pipe, uint8_t *data, size_t len, k_timeout
 	}
 exit:
 	SYS_PORT_TRACING_OBJ_FUNC_EXIT(k_pipe, read, pipe, rc);
-	k_spin_unlock(&pipe->lock, key);
+	if (need_resched) {
+		z_reschedule(&pipe->lock, key);
+	} else {
+		k_spin_unlock(&pipe->lock, key);
+	}
 	return rc;
 }