diff --git a/mm/kasan/report.c b/mm/kasan/report.c
index 621782100eaa0..a05ff1922d499 100644
--- a/mm/kasan/report.c
+++ b/mm/kasan/report.c
@@ -92,7 +92,7 @@ static void end_report(unsigned long *flags)
 	pr_err("==================================================================\n");
 	add_taint(TAINT_BAD_PAGE, LOCKDEP_NOW_UNRELIABLE);
 	spin_unlock_irqrestore(&report_lock, *flags);
-	if (panic_on_warn)
+	if (panic_on_warn && !test_bit(KASAN_BIT_MULTI_SHOT, &kasan_flags))
 		panic("panic_on_warn set ...\n");
 	kasan_enable_current();
 }